We want you to feel good about your future.


John M. Murphy, Jr.

Chairman, Portfolio Manager

fl: 941-964-2434

mn: 952-681-7641

cell: 612-810-8752


Prior to founding Somerset Group, John was Chairman, of Somerset Asset Management, Chief Investment Officer of US Bancorp Institutional Financial Services as well as US Bank Trust, N.A. and US Bancorp Asset Management.  He earned a BS in Economics from Regis University in Denver.  


He was a member of Minnesota Medical Foundation, Advisory Board Member for the National Kidney Foundation, Advisory Member of the UofM Investment Endowment and an Advisory Member of Blue Cross Blue Shield of Minnesota.

John is currently serving on the board of the Boca Grande Health Clinic and was Vice Chairman of the Boca Grande Health Clinic Foundation.


Arlene Kielley

President, Portfolio Manager



Prior to founding Somerset Group, Arlene was Senior Vice President, Portfolio Manager of Somerset Asset Management, 18 years at US Bank in the portfolio management and private wealth group. She has more than 30 years of experience in financial services, investment management and portfolio construction. She is committed to developing custom solutions for individuals and select institutions. Her perspective, attention to detail, and passion make her a critical member of our investment team and positive influence in our client’s long-term financial well-being.    


Arlene received her BS degree in Business Administration from St. Catherine’s University.

Julie Toelle

Treasurer, Head of Operations



Julie Toelle is head of operations for both Wayzata, MN and Boca Grande, Florida offices.  She came to Somerset Group in 2012 after spending 9 years at Somerset Asset Management. Julie has over 24 years of experience in investment management operations and is well known for her strong attention to detail and commitment to Somerset clients.      


Julie received a BA in Business Administration from Belmont College in Nashville, Tennessee.


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