DFX Intelligence

Data Factory

RIA / WealthRegistered adviserindependent wealth managerSEC registeredRAUM 100m 1b

NEPSIS, INC.

CRD 141203

MINNEAPOLIS, MN

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:71d09740-c423-8c12-ac18-d4d5e2d76bcf

Data as of Feb 4, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 6:24 PM UTC and rebuilt at most every 15 minutes.

Relationships: 36
Dated events: 17
On other graphs: 0
Observed: Nov 18, 2011 to Feb 4, 2026
60 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: independent wealth managerderivedprivate_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0
Regulatory AUM: $345MItem 5.F on the latest filing (2026-02-04); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $345M
Private client RAUM: $343MderivedItem 5.D individuals plus high net worth individuals
Private client share: 100%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 12
RAUM per advisor: $28.7Mderivedthe firm's RAUM over its IAPD headcount: a firm average, never a person's book
Employees: 37
Advisory employees: 18
Offices: 3Schedule D 1.F, beyond the principal office
Accounts: 1,267
Individual clients: 494
High net worth clients: 96
SEC number: 801-67023
CIK: 1587643
CRD: 141203
Filings on the tape: 60
First filed: Nov 18, 2011
Latest filed: Feb 4, 2026
Organised: Corporation, MN
Website: instagram

Advisors on IAPD

current investment adviser representatives on the IAPD individual feed, longest tenure first

Advisor	Designations	Branch	Years here	In industry	Prior firms	Dual registered
MARK WILLIAM PEARSON	n/a	MINNEAPOLIS, MN	12	31	1	no
KEVIN M DISTAD	n/a	Bloomington, MN \| MINNEAPOLIS, MN	11	21	1	no
MATTHEW THOMAS PEARSON	n/a	MINNEAPOLIS, MN	11	11	n/a	no
JOSHUA MICHAEL ENGLUND	n/a	Bloomington, MN \| MINNEAPOLIS, MN	10	13	2	no
THOMAS DONALD SCHMID	n/a	Bloomington, MN \| MINNEAPOLIS, MN	10	19	2	no
Charles Darwin Etzweiler	Certified Financial Planner	MINNEAPOLIS, MN \| Temecula, CA	8	21	3	no
ROBERT J LEWIS	n/a	MINNEAPOLIS, MN	8	30	4	no
DAVID JOHN CHRISTIANSON	Certified Financial Planner	MINNEAPOLIS, MN	5	10	1	no
DAVID EUGENE PARADISE	n/a	MINNEAPOLIS, MN	5	12	2	no
KURT JAMES OBERMILLER	n/a	Minneapolis, MN \| MINNEAPOLIS, MN	4	14	4	no
DARRYL JOSEPH CHOUINARD	n/a	Seattle, WA \| MINNEAPOLIS, MN	3	21	6	no
Nathan Diercks	n/a	MINNEAPOLIS, MN	3	10	n/a	no

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
PEARSON, MARK, WILLIAM	PRESIDENT & CHIEF COMPLIANCE OFFICER	E	yes	02/2001	Nov 18, 2011	Oct 8, 2024

Affiliates (Item 7.A)

as filed on Item 7.A; a related person with a CRD on the graph links to its own page

Related person	Type	Class on the graph	Its RAUM	Control	Common control	State
NEPSIS ADVISOR SERVICES, INC.	n/a	Former SEC adviser	$0	Y	yes	n/a
NEPSIS INSURANCE SERVICES, INC.	n/a	n/a	n/a	N	yes	n/a
NEPSIS TAX SOLUTIONS, LLC	n/a	n/a	n/a	N	yes	n/a

Offices

Schedule D 1.F offices beyond the principal office; street addresses are not published

City	State	Country	Employees	Also broker-dealer
Bloomington	Mn	United States	3	no
Bloomington	IL	United States	2	no
n/a	n/a	n/a	1	no

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line; showing 15 of 16

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2025	Feb 4, 2026	$345M	$345M	37	18	3	n/a	n/a
2024	Mar 31, 2025	$498M	$498M	43	25	4	n/a	n/a
2023	Mar 21, 2024	$351M	$351M	23	15	2	n/a	n/a
2022	Mar 20, 2023	$298M	$298M	19	13	2	n/a	n/a
2021	Mar 31, 2022	$350M	$350M	18	12	2	n/a	n/a
2020	Mar 3, 2021	$370M	$370M	18	10	2	n/a	n/a
2019	Mar 19, 2020	$209M	$204M	17	12	2	n/a	n/a
2018	Mar 1, 2019	$227M	$223M	17	12	2	n/a	n/a
2017	Mar 30, 2018	$263M	$263M	5	3	1	n/a	n/a
2016	Feb 16, 2017	$270M	$270M	4	4	n/a	n/a	n/a
2015	Mar 28, 2016	$262M	$262M	4	4	n/a	n/a	n/a
2014	Mar 12, 2015	$252M	$252M	4	4	n/a	n/a	n/a
2013	Mar 28, 2014	$214M	$214M	13	9	n/a	n/a	n/a
2012	Mar 21, 2013	$185M	$185M	13	9	n/a	n/a	n/a
2011	Jan 17, 2012	$160M	$160M	n/a	n/a	n/a	n/a	n/a

Advisor flows

derived: registrations beginning and ending at this CRD on IAPD, bulk corporate re-registrations excluded; the rate is departures over IAPD headcount

Joined, 12m	Left, 12m	Net, 12m	Departure rate, 12m	Joined, 90d	Left, 90d	Left, no destination yet	Joined, 36m	Left, 36m
0	8	-8	66.7%	0	1	0	4	11

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2025	$345M	$498M	-30.8%	$298M	5.0%	37	43	3	4

Teams out

two or more advisors whose registrations ended here and began at one firm together: a fact of two dates, not a prediction

Other firm	Advisors	First left	Last joined	From	Kind	Move type	Share of firm
STRONG RETIREMENT SOLUTIONS	2	Jul 16, 2025	May 9, 2025	MINNEAPOLIS, MN	Team lift out	RIA to new firm	8.7%

Teams in

teams that arrived here from one firm together

Other firm	Advisors	First left	Last joined	From	Kind	Move type	Share of firm
NEPSIS ADVISOR SERVICES, INC.	4	Dec 31, 2015	Feb 6, 2016	MINNEAPOLIS, MN	Firm absorbed	Other	50.0%

Relationships

Affiliated with (2)

→ NEPSIS ADVISOR SERVICES, INC.Registered adviserother investment adviser, control, common control
factForm ADV
← NEPSIS ADVISOR SERVICES, INC.Registered adviserother investment adviser, common control
factForm ADV

Registered with (28)

← Nathan DiercksAdvisorregistration: current employment
May 9, 2023 to presentfactForm ADV
← DARRYL JOSEPH CHOUINARDAdvisorregistration: current employment
Jan 23, 2023 to presentfactForm ADV
← KURT JAMES OBERMILLERAdvisorregistration: current employment
Jun 7, 2022 to presentfactForm ADV
← DAVID EUGENE PARADISEAdvisorregistration: current employment
Jul 21, 2021 to presentfactForm ADV
← DAVID JOHN CHRISTIANSONAdvisorregistration: current employment
Dec 1, 2020 to presentfactForm ADV
← ROBERT J LEWISAdvisorregistration: current employment
Sep 6, 2018 to presentfactForm ADV
← Charles Darwin EtzweilerAdvisorregistration: previous registration
Jan 17, 2012 to Sep 25, 2015factForm ADV
← THOMAS DONALD SCHMIDAdvisorregistration: previous registration
Jun 17, 2010 to Jun 18, 2013factForm ADV
← JOSHUA MICHAEL ENGLUNDAdvisorregistration: current employment
Dec 23, 2015 to presentfactForm ADV
← MATTHEW THOMAS PEARSONAdvisorregistration: current employment
Aug 21, 2015 to presentfactForm ADV
← KEVIN M DISTADAdvisorregistration: current employment
Jul 13, 2015 to presentfactForm ADV
← MARK WILLIAM PEARSONAdvisorregistration: current employment
Dec 9, 2013 to presentfactForm ADV
← Craig Michael GoldenAdvisorregistration: previous registration
Apr 5, 2024 to Jul 8, 2026factForm ADV
← Malia M HaskinsAdvisorregistration: previous registration
Jul 12, 2024 to Jun 11, 2026factForm ADV
← Edward Robert StoberAdvisorregistration: previous registration
Feb 6, 2024 to Apr 7, 2026factForm ADV
← LAURA ROSE HAUPTAdvisorregistration: previous registration
Oct 31, 2024 to Feb 11, 2026factForm ADV
← Trenton T HazenAdvisorregistration: previous registration
Apr 15, 2024 to Jan 22, 2026factForm ADV
← Marcos RivasAdvisorregistration: previous registration
Aug 24, 2024 to Nov 7, 2025factForm ADV
← Krew Michael BarberAdvisorregistration: previous registration
Jun 3, 2024 to Nov 7, 2025factForm ADV
← Brooks Michael AllenAdvisorregistration: previous registration
Jun 3, 2024 to Nov 7, 2025factForm ADV
← JEFFREY LYNN AUGSPURGERAdvisorregistration: previous registration
Feb 6, 2016 to Jul 16, 2025factForm ADV
← MATTHEW LYNN AUGSPURGERAdvisorregistration: previous registration
Dec 23, 2015 to Jul 16, 2025factForm ADV
← Jason StroughAdvisorregistration: previous registration
Jan 24, 2022 to Jul 16, 2025factForm ADV
← Benjamin Daniel RonesAdvisorregistration: previous registration
Dec 7, 2017 to Feb 24, 2020factForm ADV
← Joseph David DeZielAdvisorregistration: previous registration
Jun 9, 2016 to Apr 4, 2017factForm ADV
← MARK RAY CLARKAdvisorregistration: previous registration
Apr 13, 2012 to Aug 4, 2015factForm ADV
← SHARON ELAINE SYKESAdvisorregistration: previous registration
Oct 24, 2011 to Jul 22, 2015factForm ADV
← JONATHAN TODD LOCKLEARAdvisorregistration: previous registration
Nov 7, 2011 to Apr 24, 2013factForm ADV

Controls (1)

← PEARSON, MARK, WILLIAMOwnerPRESIDENT & CHIEF COMPLIANCE OFFICER, ownership code E, individual
Nov 18, 2011 to Oct 8, 2024factForm ADV

Moved with (1)

← NEPSIS ADVISOR SERVICES, INC.Registered adviser4 advisors, firm absorbed, same day
Dec 31, 2015 to Feb 6, 2016factForm ADV

Dated events

2 bookkeeping events (roster, classification and holdings changes) folded below

Occurred
Jul 8, 2026
Advisor changed firm
Craig Michael Golden left Nepsis, Inc. for Cio Complete (registered 2026-08-31)
Form ADVobserved 5 days ago
Occurred
Jun 11, 2026
Advisor changed firm
Malia M Haskins left Nepsis, Inc. for Edward Jones (registered 2026-06-16)
Form ADVobserved 5 days ago
Occurred
Apr 7, 2026
Advisor changed firm
Edward Robert Stober left Nepsis, Inc. for Cliftonlarsonallen Wealth Advisors, Llc (registered 2026-05-13)
Form ADVobserved 5 days ago
Occurred
Feb 11, 2026
Advisor changed firm
Laura Rose Haupt left Nepsis, Inc. for Jnba Financial Advisors, Llc (registered 2026-06-15)
Form ADVobserved 5 days ago
Occurred
Jan 22, 2026
Advisor changed firm
Trenton T Hazen left Nepsis, Inc. for Kestra Advisory Services, Llc (registered 2026-01-26)
Form ADVobserved 5 days ago
Occurred
Jan 13, 2026
Regulatory AUM changed
Nepsis, Inc. reported RAUM $344.5M, down 31% from $497.8M (2025-09-18 to 2026-01-13)
Form ADVobserved 5 days ago
$-153M
Occurred
Nov 7, 2025
Advisor changed firm
Marcos Rivas left Nepsis, Inc. for Fisher Investments (registered 2026-02-11)
Form ADVobserved 5 days ago
Occurred
Nov 7, 2025
Advisor changed firm
Krew Michael Barber left Nepsis, Inc. for Guardian Wealth Advisors, Llc (registered 2026-01-14)
Form ADVobserved 5 days ago
Occurred
Nov 7, 2025
Advisor changed firm
Brooks Michael Allen left Nepsis, Inc. for Cresset Asset Management, Llc (registered 2025-12-10)
Form ADVobserved 5 days ago
Occurred
Jul 16, 2025
Team lift-out
2 advisors left Nepsis, Inc. (Minneapolis, MN) for Strong Retirement Solutions on the same day
Form ADVobserved 4 days ago
2 advisors
Occurred
Jul 16, 2025
Advisor changed firm
Jason Strough left Nepsis, Inc. for Strong Retirement Solutions (registered 2025-05-09)
Form ADVobserved 5 days ago
Occurred
Jul 16, 2025
Advisor changed firm
Jeffrey Lynn Augspurger left Nepsis, Inc. for Strong Retirement Solutions (registered 2025-05-09)
Form ADVobserved 5 days ago
Occurred
Jul 16, 2025
Advisor changed firm
Matthew Lynn Augspurger left Nepsis, Inc. for Strong Retirement Solutions (registered 2025-05-09)
Form ADVobserved 5 days ago
Occurred
Mar 31, 2025
Regulatory AUM changed
Nepsis, Inc. reported RAUM $497.8M, up 42% from $350.8M (2024-10-08 to 2025-03-31)
Form ADVobserved 5 days ago
$147M
Occurred
Mar 3, 2021
Regulatory AUM changed
Nepsis, Inc. reported RAUM $370.0M, up 77% from $208.9M (2021-01-08 to 2021-03-03)
Form ADVobserved 5 days ago
$161M

Show 2 bookkeeping events

Occurred
Mar 31, 2025
Nepsis, Inc. reported 25 state-registered advisory representatives, up from 15 (2024-10-08 to 2025-03-31)
Occurred
Mar 1, 2019
Nepsis, Inc. reported 12 state-registered advisory representatives, up from 2 (2019-01-11 to 2019-03-01)

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:71d09740-c423-8c12-ac18-d4d5e2d76bcf
First observed: Nov 18, 2011
Last observed: Feb 4, 2026 7 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

NEPSIS, INC.

CRD 141203

MINNEAPOLIS, MN

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:71d09740-c423-8c12-ac18-d4d5e2d76bcf

Data as of Feb 4, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 6:24 PM UTC and rebuilt at most every 15 minutes.

Advisor

Designations

Branch

Years here

In industry

Prior firms

Dual registered

MARK WILLIAM PEARSON

n/a

MINNEAPOLIS, MN

KEVIN M DISTAD

n/a

Bloomington, MN | MINNEAPOLIS, MN

MATTHEW THOMAS PEARSON

n/a

MINNEAPOLIS, MN

n/a

JOSHUA MICHAEL ENGLUND

n/a

Bloomington, MN | MINNEAPOLIS, MN

THOMAS DONALD SCHMID

n/a

Bloomington, MN | MINNEAPOLIS, MN

Charles Darwin Etzweiler

Certified Financial Planner

MINNEAPOLIS, MN | Temecula, CA

ROBERT J LEWIS

n/a

MINNEAPOLIS, MN

DAVID JOHN CHRISTIANSON

Certified Financial Planner

MINNEAPOLIS, MN

DAVID EUGENE PARADISE

n/a

MINNEAPOLIS, MN

KURT JAMES OBERMILLER

n/a

Minneapolis, MN | MINNEAPOLIS, MN

DARRYL JOSEPH CHOUINARD

n/a

Seattle, WA | MINNEAPOLIS, MN

Nathan Diercks

n/a

MINNEAPOLIS, MN

n/a

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

PEARSON, MARK, WILLIAM

PRESIDENT & CHIEF COMPLIANCE OFFICER

yes

02/2001

Nov 18, 2011

Oct 8, 2024

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

NEPSIS ADVISOR SERVICES, INC.

n/a

Former SEC adviser

yes

n/a

NEPSIS INSURANCE SERVICES, INC.

n/a

yes

n/a

NEPSIS TAX SOLUTIONS, LLC

n/a

yes

n/a

City

State

Country

Employees

Also broker-dealer

Bloomington

United States

Bloomington

United States

n/a

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Feb 4, 2026

$345M

n/a

2024

Mar 31, 2025

$498M

n/a

2023

Mar 21, 2024

$351M

n/a

2022

Mar 20, 2023

$298M

n/a

2021

Mar 31, 2022

$350M

n/a

2020

Mar 3, 2021

$370M

n/a

2019

Mar 19, 2020

$209M

$204M

n/a

2018

Mar 1, 2019

$227M

$223M

n/a

2017

Mar 30, 2018

$263M

n/a

2016

Feb 16, 2017

$270M

n/a

2015

Mar 28, 2016

$262M

n/a

2014

Mar 12, 2015

$252M

n/a

2013

Mar 28, 2014

$214M

n/a

2012

Mar 21, 2013

$185M

n/a

2011

Jan 17, 2012

$160M

n/a

Joined, 12m

Left, 12m

Net, 12m

Departure rate, 12m

Joined, 90d

Left, 90d

Left, no destination yet

Joined, 36m

Left, 36m

-8

66.7%

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$345M

$498M

-30.8%

$298M

5.0%

Other firm

Advisors

First left

Last joined

From

Kind

Move type

Share of firm

STRONG RETIREMENT SOLUTIONS

Jul 16, 2025

May 9, 2025

MINNEAPOLIS, MN

Team lift out

RIA to new firm

8.7%

Other firm

Advisors

First left

Last joined

From

Kind

Move type

Share of firm

NEPSIS ADVISOR SERVICES, INC.

Dec 31, 2015

Feb 6, 2016

MINNEAPOLIS, MN

Firm absorbed

Other

50.0%