Classic Asset Management, Llc
- Regulatory AUM
- $189M
- Discretionary
- $187M
- Clients
- 659
- Avg AUM / client
- $287K
- Accounts
- 1,346
- Employees
- 10
AUM over time
Annual snapshots from Form ADV filings · as of May 05, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 602 | $121M | 64.0% |
| High net worth individuals | 57 | $66.0M | 34.9% |
| Charitable organizations | Fewer than 5 clients | $2.1M | 1.11% |
| Corporations and other businesses | Fewer than 5 clients | $85.0K | 0.04% |
People (4)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Craig Alan Rottman | Managing Member | Jul 2006 (20y) | ≈ 18.75% – 50% via Classic Holdings, Llc | |
| Douglas Gene Schmitz | Member | Jul 2006 (20y) | ≈ 18.75% – 50% via Classic Holdings, Llc | |
| Michael Victor Young | Cco And Managing Member | CFP | Jul 2006 (20y) | ≈ 18.75% – 50% via Classic Holdings, Llc |
| Austin Thomas Avery | Registered representative | Mar 2022 (4y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Classic Holdings, Llc | Holding Company/Owner | Jan 2013 | A | 75% or more |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Craig Alan Rottman: 25% – 50% of Classic Holdings, Llc × 75% – 100% direct ≈ 18.75% – 50% of the firm
- Douglas Gene Schmitz: 25% – 50% of Classic Holdings, Llc × 75% – 100% direct ≈ 18.75% – 50% of the firm
- Michael Victor Young: 25% – 50% of Classic Holdings, Llc × 75% – 100% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 05/05/2026 | 1.25 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Allegations: THE SEC CONDUCTED AN INVESTIGATION AND EXAMINATION OF CLASSIC ASSET MANAGEMENT, LLC ("CAM") AND ONE OF ITS IARS REGARDING SALES PRACTICES RELATING TO THE TO RECOMMENDATION, SALE, AND USE OF LEVERAGED EXCHANGE TRADED FUNDS ("LEVERAGED ETFS"). ULTIMATELY, THE SEC CHARGED CAM AND DOUGLAS SCHMITZ WITH A VIOLATION OF SECTION 206(2) OF THE INVESTMENT ADVISERS ACT OF 1930, AND CHARGED CAM WITH A VIOLATION OF SECTION 206(4) OF THE INVESTMENT ADVISER'S ACT OF 1930 AND SEC RULE 206(4)-7 RELATED TO INSUFFICIENT POLICIES AND PROCEDURES GOVERNING THE SALE AND MONITORING OF LEVERAGED ETF PRODUCTS. Status: Final Sanction Detail: CLASSIC ASSET MANAGEMENT (CAM) AND DOUG SCHMITZ, INDIRECT OWNER AND IAR WERE ORDERED TO CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF SECTION 206(2) OF THE ADVISERS ACT AND SECTION 206(4) OF THE ADVISERS ACT AND RULE 206(4)-7 PROMULGATED THEREUNDER. CAM AND DOUG SCHMITZ WERE CENSURED AND REQUIRED TO PAY DISGORGEMENT, PREJUDGMENT INTEREST AND A CIVIL MONETARY PENALTY. Summary: AS REQUIRED BY THE SEC'S ORDER, CAM AND SCHMITZ ARE IN THE PROCESS OF PROVIDING REMEDIATION TO QUALIFIED INVESTORS.
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Percentage of assets under management
- • Hourly charges
- • Fixed fees
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Selection of other advisers
- • Other services
Custody
Reported custodians
- Axos Clearing $163M (86% of AUM) May 2026
- E*TRADE (Morgan Stanley) $138M (83% of AUM) Aug 2021
- Trust Company Of America $113M (74% of AUM) Aug 2018
- Charles Schwab & Co. $26.2M (14% of AUM) May 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: May 05, 2026.
View current Form ADV (SEC/IAPD) ↗