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RIA / WealthRegistered adviserformer SEC advisernot on rosterRAUM 100m 1b

ADVANTAGE INVESTMENT MANAGEMENT, LLC

CRD 146236

CEDAR RAPIDS, IA

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:cbd6cbf7-50a7-2dfa-43bf-5457ed570d7a

Data as of Nov 7, 2019 (this record's last observation) from federal regulator filings. Page built Sep 19, 2026, 5:44 AM UTC and rebuilt at most every 15 minutes.

Relationships: 96
Dated events: 3
On other graphs: 0
Observed: Dec 22, 2011 to Nov 7, 2019
33 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: former SEC adviserderivedabsent from the latest SEC roster
Regulatory AUM: $386MItem 5.F on the latest filing (2019-11-07); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $321M
Private client RAUM: $372MderivedItem 5.D individuals plus high net worth individuals
Private client share: 97%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 0
Employees: 30
Advisory employees: 28
Offices: 15Schedule D 1.F, beyond the principal office
Accounts: 2,524
Individual clients: 2,477
High net worth clients: 28
SEC number: 801-69551
CRD: 146236
Filings on the tape: 33
First filed: Dec 22, 2011
Latest filed: Nov 7, 2019
Organised: Limited Liability Company, Iowa

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
ADVANTAGE FINANCIAL GROUP, INC.	Member	E	yes	01/2001	Dec 22, 2011	Nov 7, 2019
AUERBACH, CHARLES, NMN	Director	Na	yes	07/2008	Dec 22, 2011	Nov 7, 2019
DARDEN, MELISSA, ANN	BOARD SECRETARY/DIRECTOR/EVP	Na	yes	07/2008	Dec 22, 2011	Nov 7, 2019
HOLDER, DOUGLAS, BRYAN	DIRECTOR/PRESIDENT	Na	yes	03/2013	Mar 28, 2013	Nov 7, 2019
RUSSO, JOSEPH, ROY	Ceo	C	yes	01/2001	Dec 22, 2011	Nov 7, 2019
RUSSO, JOSEPH, ROY	Chairman	Na	yes	07/2008	Dec 22, 2011	Nov 7, 2019
SCHERRMAN, MICHAEL, EMMETT	CHIEF COMPLIANCE OFFICER	Na	yes	09/2018	Dec 12, 2018	Nov 7, 2019

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
ROSS BARBATTI	n/a	n/a	n/a	N	no	n/a

Offices

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

City	State	Country	Employees	Also broker-dealer
Cordova	Tn	United States	6	no
Lafayette	In	United States	4	no
Springfield	Oh	United States	3	no
Naples	FL	United States	2	no
Waterloo	Ia	United States	2	no
Escanaba	Mi	United States	2	no
SHEFFIELD VILLAGE	Oh	United States	2	no
COSTA MESA	CA	United States	1	no
Geneva	IL	United States	1	no
Greencastle	In	United States	1	no
Columbus	Oh	United States	1	no
Blakely	Pa	United States	1	no
Knoxville	Tn	United States	1	no
Mequon	Wi	United States	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

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2018	Mar 29, 2019	$386M	$321M	30	28	15	n/a	n/a
2017	Apr 2, 2018	$881M	$851M	50	50	19	n/a	n/a
2016	Mar 31, 2017	$689M	$660M	51	51	n/a	n/a	n/a
2015	Mar 29, 2016	$564M	$550M	53	53	n/a	n/a	n/a
2014	Mar 24, 2015	$537M	$523M	50	50	n/a	n/a	n/a
2013	Apr 1, 2014	$450M	$432M	46	46	n/a	n/a	n/a
2012	Mar 28, 2013	$312M	$17.6M	39	39	n/a	n/a	n/a
2011	Mar 30, 2012	$297M	$199M	n/a	n/a	n/a	n/a	n/a

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
2018	$386M	$881M	-56.2%	$564M	-11.9%	30	50	15	19

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
PRIVATE ADVISOR GROUP, LLC	4	Dec 31, 2019	Jul 22, 2024	CEDAR RAPIDS, IA	Team lift out	RIA to RIA	30.8%
PRIVATE ADVISOR GROUP, LLC	3	Dec 31, 2019	Oct 24, 2019	WEST LAFAYETTE, IN	Team lift out	RIA to RIA	23.1%
SEQUOIA WEALTH MANAGEMENT, LLC	2	Oct 2, 2019	Oct 1, 2019	SHEFFILED VILLAGE, OH	Team lift out	RIA to RIA	13.3%
MAS ADVISORS LLC	2	Sep 30, 2019	Oct 4, 2019	CORDOVA, TN	Team lift out	Other	11.1%
SOUDERS FINANCIAL ADVISORS, LLC	4	Aug 20, 2019	Aug 25, 2019	SPRINGFIELD, OH	Team lift out	RIA to RIA	17.4%
SOUDERS FINANCIAL ADVISORS, LLC	5	Jun 11, 2018	Jun 21, 2018	CINCINNATI, OH	Team lift out	RIA to new firm	13.5%
LPL FINANCIAL LLC	3	Jun 11, 2018	Sep 20, 2016	CINCINNATI, OH	Team lift out	RIA to RIA	8.1%
COMMONWEALTH FINANCIAL NETWORK	3	May 15, 2018	May 15, 2018	SOUTHGATE, MI	Team lift out	RIA to ibd	7.3%
CAMBRIDGE INVESTMENT RESEARCH ADVISORS, INC.	3	Jan 2, 2018	Jan 2, 2018	ANDERSON, SC	Team lift out	Other	7.1%

Teams in

teams that arrived here from one firm together

Other firm	Advisors	First left	Last joined	From	Kind	Move type	Share of firm
NATIONAL PLANNING CORPORATION ("NPC OF AMERICA" IN FL & NY)	2	Nov 3, 2017	Oct 25, 2011	LOS ANGELES, CA	Team lift out	Other	0.4%
NATIONAL PLANNING CORPORATION ("NPC OF AMERICA" IN FL & NY)	2	Nov 1, 2017	Jul 21, 2009	NAPERVILLE, IL	Team lift out	Other	0.4%
NATIONAL PLANNING CORPORATION ("NPC OF AMERICA" IN FL & NY)	4	Oct 24, 2017	Jun 24, 2011	ST PETERSBURG, FL	Team lift out	Other	0.6%

Relationships

showing 80 of 96

Controls (6)

← SCHERRMAN, MICHAEL, EMMETTOwnerCHIEF COMPLIANCE OFFICER, ownership code NA, individual
Dec 12, 2018 to presentfactForm ADV
← AUERBACH, CHARLES, NMNOwnerDIRECTOR, ownership code NA, individual
Dec 22, 2011 to presentfactForm ADV
← DARDEN, MELISSA, ANNOwnerBOARD SECRETARY/DIRECTOR/EVP, ownership code NA, individual
Dec 22, 2011 to presentfactForm ADV
← HOLDER, DOUGLAS, BRYANOwnerDIRECTOR/PRESIDENT, ownership code NA, individual
Mar 28, 2013 to presentfactForm ADV
← RUSSO, JOSEPH, ROYOwnerCEO, ownership code C, individual
Dec 22, 2011 to presentfactForm ADV
← ADVANTAGE FINANCIAL GROUP, INC.OwnerMEMBER, ownership code E, domestic entity
Dec 22, 2011 to presentfactForm ADV

Moved with (7)

→ PRIVATE ADVISOR GROUP, LLCRegistered adviser4 advisors, team lift out, same day
Dec 31, 2019 to Jul 22, 2024factForm ADV
→ MAS ADVISORS LLCRegistered adviser2 advisors, team lift out, same day
Sep 30, 2019 to Oct 4, 2019factForm ADV
→ SEQUOIA WEALTH MANAGEMENT, LLCRegistered adviser2 advisors, team lift out, same day
Oct 2, 2019 to Oct 1, 2019factForm ADV
→ SOUDERS FINANCIAL ADVISORS, LLCRegistered adviser4 advisors, team lift out, same day
Aug 20, 2019 to Aug 25, 2019factForm ADV
→ COMMONWEALTH FINANCIAL NETWORKRegistered adviser3 advisors, team lift out, same day
May 15, 2018 to May 15, 2018factForm ADV
→ CAMBRIDGE INVESTMENT RESEARCH ADVISORS, INC.Registered adviser3 advisors, team lift out, same day
Jan 2, 2018 to Jan 2, 2018factForm ADV
→ LPL FINANCIAL LLCRegistered adviser3 advisors, team lift out, same day
Jun 11, 2018 to Sep 20, 2016factForm ADV

Registered with (63)

← ROBERT MORRIS HOFFMANAdvisorregistration: previous registration
May 6, 2014 to Dec 31, 2019factForm ADV
← TERRY DONALD SCHNAREAdvisorregistration: previous registration
Apr 3, 2014 to Dec 31, 2019factForm ADV
← MICHAEL DOUGLAS OLESENAdvisorregistration: previous registration
Jul 14, 2017 to Dec 31, 2019factForm ADV
← MELISSA ANN DARDENAdvisorregistration: previous registration
Dec 4, 2008 to Dec 31, 2019factForm ADV
← DENNIS EDWARD SYNESAELAdvisorregistration: previous registration
Nov 25, 2009 to Dec 31, 2019factForm ADV
← HENRY THOMAS BOLENAdvisorregistration: previous registration
Jul 30, 2012 to Dec 31, 2019factForm ADV
← STEVEN JAMES TACKMANAdvisorregistration: previous registration
Jun 25, 2010 to Dec 31, 2019factForm ADV
← DOUGLAS BRYAN HOLDERAdvisorregistration: previous registration
May 5, 2009 to Dec 31, 2019factForm ADV
← JOSEPH ROY RUSSOAdvisorregistration: previous registration
Sep 22, 2008 to Dec 31, 2019factForm ADV
← JAMES MURRAY PAULAdvisorregistration: previous registration
Jul 31, 2012 to Dec 31, 2019factForm ADV
← ROSS JAMES BARBATTIAdvisorregistration: previous registration
Dec 1, 2008 to Dec 31, 2019factForm ADV
← GARRETT RYAN CHENEYAdvisorregistration: previous registration
Mar 10, 2015 to Dec 31, 2019factForm ADV
← MARILYN L QUINNAdvisorregistration: previous registration
Aug 10, 2015 to Dec 31, 2019factForm ADV
← CHERYL PATRICIA JANIKAdvisorregistration: previous registration
Jul 12, 2011 to Oct 2, 2019factForm ADV
← RENEE LOUISE DIETZAdvisorregistration: previous registration
Jul 14, 2011 to Oct 2, 2019factForm ADV
← Charles AuerbachAdvisorregistration: previous registration
Jan 21, 2009 to Sep 30, 2019factForm ADV
← Stephen Douglass StampsAdvisorregistration: previous registration
Nov 30, 2015 to Sep 30, 2019factForm ADV
← Bruce MartinAdvisorregistration: previous registration
Apr 24, 2015 to Sep 30, 2019factForm ADV
← Vernon Grant StewartAdvisorregistration: previous registration
Jan 25, 2018 to Sep 17, 2019factForm ADV
← Catherine C ZainoAdvisorregistration: previous registration
Sep 12, 2013 to Aug 20, 2019factForm ADV
← PHILIP STEVEN SCOTTAdvisorregistration: previous registration
Jul 12, 2012 to Aug 20, 2019factForm ADV
← RODNEY TRACEY FLANNERYAdvisorregistration: previous registration
Jul 24, 2012 to Aug 20, 2019factForm ADV
← Clark Alan EngleAdvisorregistration: previous registration
Feb 15, 2018 to Aug 20, 2019factForm ADV
← LOUISE DOROTHY HOLTZAdvisorregistration: previous registration
Sep 29, 2008 to Jul 24, 2019factForm ADV
← KENNETH ERNEST SCHMOCKERAdvisorregistration: previous registration
Mar 10, 2009 to Feb 26, 2019factForm ADV
← ANDREW CHRISTOPHER TENGBLADAdvisorregistration: previous registration
Jan 15, 2015 to Feb 26, 2019factForm ADV
← CHRISTOPHER THOMAS SAUVEAdvisorregistration: previous registration
Jul 1, 2013 to Feb 22, 2019factForm ADV
← MICHAEL EUGENE MOFFITTAdvisorregistration: previous registration
Jan 29, 2009 to Oct 2, 2018factForm ADV
← JEREMY ALAN LYONSAdvisorregistration: previous registration
Sep 5, 2018 to Oct 2, 2018factForm ADV
← RYAN PAT BONAVENTURAAdvisorregistration: previous registration
Apr 9, 2009 to Jun 14, 2018factForm ADV
and 33 more

Dated events

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

Occurred
Dec 12, 2018
Regulatory AUM changed
Advantage Investment Management, Llc reported RAUM $465.9M, down 47% from $881.0M (2018-04-02 to 2018-12-12)
Form ADVobserved 4 days ago
$-415M
Occurred
Apr 2, 2018
Regulatory AUM changed
Advantage Investment Management, Llc reported RAUM $881.0M, up 28% from $689.2M (2017-03-31 to 2018-04-02)
Form ADVobserved 4 days ago
$192M

Show 1 bookkeeping events

Occurred
Dec 12, 2018
Advantage Investment Management, Llc reported 34 state-registered advisory representatives, down from 50 (2018-04-02 to 2018-12-12)

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:cbd6cbf7-50a7-2dfa-43bf-5457ed570d7a
First observed: Dec 22, 2011
Last observed: Nov 7, 2019 83 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.

ADVANTAGE INVESTMENT MANAGEMENT, LLC

CRD 146236

CEDAR RAPIDS, IA

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:cbd6cbf7-50a7-2dfa-43bf-5457ed570d7a

Data as of Nov 7, 2019 (this record's last observation) from federal regulator filings. Page built Sep 19, 2026, 5:44 AM UTC and rebuilt at most every 15 minutes.

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

ADVANTAGE FINANCIAL GROUP, INC.

Member

yes

01/2001

Dec 22, 2011

Nov 7, 2019

AUERBACH, CHARLES, NMN

Director

yes

07/2008

Dec 22, 2011

Nov 7, 2019

DARDEN, MELISSA, ANN

BOARD SECRETARY/DIRECTOR/EVP

yes

07/2008

Dec 22, 2011

Nov 7, 2019

HOLDER, DOUGLAS, BRYAN

DIRECTOR/PRESIDENT

yes

03/2013

Mar 28, 2013

Nov 7, 2019

RUSSO, JOSEPH, ROY

Ceo

yes

01/2001

Dec 22, 2011

Nov 7, 2019

RUSSO, JOSEPH, ROY

Chairman

yes

07/2008

Dec 22, 2011

Nov 7, 2019

SCHERRMAN, MICHAEL, EMMETT

CHIEF COMPLIANCE OFFICER

yes

09/2018

Dec 12, 2018

Nov 7, 2019

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

ROSS BARBATTI

n/a

City

State

Country

Employees

Also broker-dealer

Cordova

United States

Lafayette

United States

Springfield

United States

Naples

United States

Waterloo

United States

Escanaba

United States

SHEFFIELD VILLAGE

United States

COSTA MESA

United States

Geneva

United States

Greencastle

United States

Columbus

United States

Blakely

United States

Knoxville

United States

Mequon

United States

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2018

Mar 29, 2019

$386M

$321M

n/a

2017

Apr 2, 2018

$881M

$851M

n/a

2016

Mar 31, 2017

$689M

$660M

n/a

2015

Mar 29, 2016

$564M

$550M

n/a

2014

Mar 24, 2015

$537M

$523M

n/a

2013

Apr 1, 2014

$450M

$432M

n/a

2012

Mar 28, 2013

$312M

$17.6M

n/a

2011

Mar 30, 2012

$297M

$199M

n/a

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2018

$386M

$881M

-56.2%

$564M

-11.9%

Other firm

Advisors

First left

Last joined

From

Kind

Move type

Share of firm

PRIVATE ADVISOR GROUP, LLC

Dec 31, 2019

Jul 22, 2024

CEDAR RAPIDS, IA

Team lift out

RIA to RIA

30.8%

PRIVATE ADVISOR GROUP, LLC

Dec 31, 2019

Oct 24, 2019

WEST LAFAYETTE, IN

Team lift out

RIA to RIA

23.1%

SEQUOIA WEALTH MANAGEMENT, LLC

Oct 2, 2019

Oct 1, 2019

SHEFFILED VILLAGE, OH

Team lift out

RIA to RIA

13.3%

MAS ADVISORS LLC

Sep 30, 2019

Oct 4, 2019

CORDOVA, TN

Team lift out

Other

11.1%

SOUDERS FINANCIAL ADVISORS, LLC

Aug 20, 2019

Aug 25, 2019

SPRINGFIELD, OH

Team lift out

RIA to RIA

17.4%

SOUDERS FINANCIAL ADVISORS, LLC

Jun 11, 2018

Jun 21, 2018

CINCINNATI, OH

Team lift out

RIA to new firm

13.5%

LPL FINANCIAL LLC

Jun 11, 2018

Sep 20, 2016

CINCINNATI, OH

Team lift out

RIA to RIA

8.1%

COMMONWEALTH FINANCIAL NETWORK

May 15, 2018

SOUTHGATE, MI

Team lift out

RIA to ibd

7.3%

CAMBRIDGE INVESTMENT RESEARCH ADVISORS, INC.

Jan 2, 2018

ANDERSON, SC

Team lift out

Other

7.1%

Other firm

Advisors

First left

Last joined

From

Kind

Move type

Share of firm

NATIONAL PLANNING CORPORATION ("NPC OF AMERICA" IN FL & NY)

Nov 3, 2017

Oct 25, 2011

LOS ANGELES, CA

Team lift out

Other

0.4%

NATIONAL PLANNING CORPORATION ("NPC OF AMERICA" IN FL & NY)

Nov 1, 2017

Jul 21, 2009

NAPERVILLE, IL

Team lift out

Other

0.4%

NATIONAL PLANNING CORPORATION ("NPC OF AMERICA" IN FL & NY)

Oct 24, 2017

Jun 24, 2011

ST PETERSBURG, FL

Team lift out

Other

0.6%