Piper Sandler & Co.

Registered investment adviser · Minneapolis, MN · CRD #665

Form ADV data as of 2026-09-01

Regulatory assets

$1.28 billion

Total accounts

Employees

1,402

Disclosure events

Firm details

Website: http://www.pipersandler.com
Telephone: 612-303-6000
SEC file number: 801-108049
Most recent Form ADV filing: 2026-03-23
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm reports 4 disclosure questions answered Yes, covering 4 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.

SEC or CFTC found a violation of its regulations or statutes
SEC or CFTC entered an order in connection with investment-related activity
SEC or CFTC imposed a civil money penalty or a cease-and-desist order
A self-regulatory organization found a violation of its rules

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$0
Non-discretionary regulatory assets under management	$1.28 billion
Total regulatory assets under management	$1.28 billion
Discretionary accounts	0
Non-discretionary accounts	1
Total accounts	1
Regulatory assets under management attributable to non-U.S. persons	$0

People

Total employees (excluding clerical)	1,402
Employees performing investment advisory functions (including research)	31
Employees who are registered representatives of a broker-dealer	1,402
Employees registered as investment adviser representatives with a state	26
Employees registered as IARs for another investment adviser	0
Employees who are licensed insurance agents	0
Firms or persons who solicit advisory clients on the firm's behalf	0

Custody

Has custody of client cash or bank accounts	No
Has custody of client securities	No
A related person has custody of client cash or bank accounts	No
A related person has custody of client securities	No
The firm acts as a qualified custodian	No
A related person acts as a qualified custodian	No

How the firm is compensated

A percentage of assets under managementFixed fees (other than subscription fees)Commissions

Advisory services offered

Portfolio management for investment companiesPortfolio management for businesses or institutional clientsOther

Other business activities

Broker-dealer (registered or unregistered)Commodity pool operator or commodity trading advisorRegistered municipal advisor

Affiliated related persons

Broker-dealer, municipal securities dealer, or government securities broker or dealerOther investment adviser (including financial planners)Sponsor, general partner, or managing member of pooled investment vehicles

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Buys securities from or sells securities to advisory clients (principal transactions)
Buys or sells for itself securities it also recommends to clients
Recommends securities in which it has another proprietary interest
Executes agency cross transactions involving advisory client securities
Recommends securities for which it serves as underwriter or general partner
Recommends securities in which it has another sales interest
Brokers or dealers selected under 8.C.(3) are related persons
Recommends brokers or dealers to clients
Brokers or dealers recommended under 8.E. are related persons
Receives soft dollar benefits
Compensates a non-employee for client referrals
Provides employee compensation specifically for obtaining clients
Receives compensation from others for client referrals

Client types

Type of client	Clients	Assets
Banking or thrift institutions	16	$0
Investment companies	1	$0
State or municipal government entities (including government pension plans)	2	$1.28 billion
Corporations or other businesses not listed above	1	$0