DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Highland Capital Management, LLC
Latest filing Jul 8, 2026
First filing on the tape Mar 2, 2012 · 43 filings
SEC status approved since Jul 21, 1972
RAUM
$3.9B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
33%
$1.3B individuals and HNW
Advisors
12
registered through the firm on IAPD
RAUM per advisor
$323M
derived; firm RAUM over IAPD count
Employees
21
13 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
43 filings and snapshots on the tape
RAUM$3.9B as of Jul 8, 2026
Mar 2, 2012$1.2B then
HNW client RAUM$1.2B as of Jul 8, 2026
Mar 28, 2018$614M then
State-registered IARs (5.B.3)12 as of Jul 8, 2026
Mar 28, 20135 then
Employees (5.A)21 as of Jul 8, 2026
Mar 28, 201311 then
Private funds: no history
RAUM +9.6% over the last fiscal year+7.8% a year over threeIARs 12 to 12
Practice profile
derived from the filing of Jul 8, 2026; every figure names its basis
Archetypes, each a printed rule
- Dual wealth and asset manager · private-client share 20 to 60 percent and fund or institutional share at least 30 percent
- RAUM per advisor
- $323MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 55derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.7MderivedHNW RAUM over HNW clients
- Average account
- $4.1MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 59%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.8derivedItem 5.A over advisors
- Advisors per office
- 6.0derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +8.3%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +1.1%derived
- Compensation
- percentage of assets, performance-based, otherreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for investment companies, otherreportedItem 5.G
- Wrap fee program
- participatesreportedItem 5.I
- Custody
- $455M, 145 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- has custody of client cash or bank accounts (9.A.1.a)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- a related person acts as qualified custodian (9.D.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$1.2B32%
- State and municipal entities$903M24%
- Pension and profit-sharing plans$891M24%
- Charitable organizations$499M13%
- Corporations and businesses$112M3.0%
- Individuals$82.7M2.2%
- Investment companies$74.9M2.0%
- Pooled investment vehicles$1.8M0.0%
- Individual clients
- 206reported
- HNW clients
- 450reported
- Pension plan clients
- 85reported
- Charitable clients
- 77reported
- Accounts
- 957reported
- Financial planning clients
- 0reported
- Wrap fee programs
- $0 sponsored, $5.1M managedreported
- Custody of client assets
- $455M for 145 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.33 fund_share=0.02 institutional_share=0.59 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
12 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Mark Joseph CroninChartered Financial Analyst | Memphis, Tn | Mar 18, 2004 | 41 y | 0 |
| David Lee ThompsonChartered Financial Analyst | Memphis, Tn | Mar 22, 2004 | 31 y | 0 |
| Steven Wishnia | Memphis, Tn | Mar 31, 2004 | 39 y | 0 |
| Scott Eric Notowich | Memphis, Tn | Feb 19, 2014 | 37 y | 3 |
| Steven Michael Stack | Lake Mary, Fl | Jul 6, 2015 | 22 y | 1 |
| Todd Ian Wishnia | Memphis, Tn | Oct 28, 2016 | 11 y | 0 |
| Andrew Travis O'SullivanChartered Financial Analyst | Memphis, Tn | Mar 29, 2017 | 11 y | 0 |
| Bart Nmi Mcmurry | Castle Rock, Co | Nov 20, 2019 | 32 y | 1 |
| Benjamin Joseph GrangerChartered Financial Analyst | Memphis, Tn | Oct 1, 2024 | 22 y | 0 |
| Lelia Woodley Coggins | Memphis, Tn | Feb 27, 2025 | 17 y | 1 |
| Alan M EricksonChartered Financial Analyst | Memphis, Tn | Aug 19, 2025 | 36 y | 0 |
| Shibahn Singh Rodda | Memphis, Tn | Feb 24, 2026 | 17 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount1 left over 36 months
Left, latest
- Jed F Miller to Agincourt Capital Management, LLCJul 2, 2025 · Other
- Reed David Walters to Sector Capital Management, L.L.C.Oct 16, 2013 · Other
- Kenneth Louis Riffle to Sector Capital Management, L.L.C.Oct 16, 2013 · Other
- Cecil Adair Godman to First Tennessee Advisory Services, Inc.Apr 1, 2011 · Other
- Mark Christopher Fleck to Patten And Patten, Inc.Jan 2, 2008 · Other
Joined, latest
- Lelia Woodley Coggins from Raymond James & Associates, Inc.Feb 27, 2025 · Affiliated broker-dealer or bank to independent RIA
- Bart Nmi Mcmurry from Icc Capital Management IncNov 20, 2019 · Other
- Steven Michael Stack from Icc Capital Management IncJul 6, 2015 · Other
- Scott Eric Notowich from Oppenheimer & Co. Inc.Feb 19, 2014 · Other
- Kenneth Louis Riffle from Sector Capital Management, L.L.C.Jun 18, 2013 · Other
- Reed David Walters from Sector Capital Management, L.L.C.Apr 15, 2013 · Other
- Cecil Adair Godman from First Horizon Advisors, IncDec 17, 2010 · Other
- Jed F Miller from Consulting Services Group, LLCDec 16, 2010 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Icc Capital Management IncMay 15, 2015 · Orlando, Fl
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Nelms Lori Montgomery · Chief Compliance Officercontrolsince 02/2023 · owns less than 5%
- Lee David Thompson · Chief Investment Officer/Director Of Private Wealthcontrolsince 04/2015 · owns less than 5%
- Heflin Michael Tindal · Director Of Taft-Hartley Servicescontrolsince 04/2015 · owns less than 5%
- Steven Wishnia · President & Ceocontrolsince 12/2012 · owns less than 5%
Entity owners
- Argent Financial Group, Inc · Member 100%direct · owns 75% or more
Related persons
Schedule D 7.A
- Ameritrust Corporationn
- Ameritrust Investment Advisors Incinvestment adviserLP sponsornRAUM $64.3M
- Argent Advisors, Inc.investment adviserLP sponsornRAUM $1.7B
- Argent Institutional Trust Companycustodiann
- Argent Insurance Services, LLCreal estaten
- Argent Retirement Plan Advisors, LLCinvestment adviserLP sponsornRAUM $683M
- Argent Trust Companycustodiann
- Argent Trust Company Of Oklahoman
- Argent Wealth, LLCinvestment advisernRAUM $487M
- Orleans Capital Management Corpinvestment advisernRAUM $2.1B
- Wynden Capital Management, LLCinvestment advisernRAUM $27.0M
Advisers that list Highland Capital Management, LLC as a related person
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Memphis, Tn · principal | 10 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Lake Mary, FL1 employees
ADV anomalies
3 against comparable advisers; where to look, not conclusions
- high institutional concentrationStatic outlier · filing Jul 8, 2026institutional share of RAUM of 59% against a peer median of 3% (1360 comparable advisers, 98.0th percentile, 14.0 robust deviations)peers: independent wealth managers, $1B to $5B (1,360) · 98% percentile
- business activity changedChange between filings · filing Jul 8, 2026portfolio management for pooled vehicles (Item 5.G.4): yes on the filing of 2026-03-25, no on the filing of 2026-07-08peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Jul 8, 2026MONTGOMERY, LORI, NELMS (CHIEF COMPLIANCE OFFICER) left Schedule A between the filings of 2023-03-03 and 2026-07-08peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Accounts · 956 to 957Mar 25, 2026 to Jul 8, 2026
- Discretionary RAUM · $3.8B to $3.9BMar 25, 2026 to Jul 8, 2026
- HNW RAUM · $1.2B to $1.2BMar 25, 2026 to Jul 8, 2026
- RAUM · $3.8B to $3.9BMar 25, 2026 to Jul 8, 2026
- Accounts · 1,042 to 956Mar 13, 2025 to Mar 25, 2026
- Advisory activities · 3 to 4Mar 13, 2025 to Mar 25, 2026
- Charity clients · 79 to 77Mar 13, 2025 to Mar 25, 2026
- Corporate clients · 16 to 15Mar 13, 2025 to Mar 25, 2026
- HNW clients · 449 to 450Mar 13, 2025 to Mar 25, 2026
- Individual clients · 200 to 206Mar 13, 2025 to Mar 25, 2026
- Pension plan clients · 171 to 85Mar 13, 2025 to Mar 25, 2026
- Assets in custody · $633M to $455MMar 13, 2025 to Mar 25, 2026
- Discretionary RAUM · $3.5B to $3.8BMar 13, 2025 to Mar 25, 2026
- HNW RAUM · $1.1B to $1.2BMar 13, 2025 to Mar 25, 2026
- Individual RAUM · $72.9M to $82.7MMar 13, 2025 to Mar 25, 2026
- Pension RAUM · $943M to $891MMar 13, 2025 to Mar 25, 2026
- Pooled vehicle RAUM · $0 to $1.8MMar 13, 2025 to Mar 25, 2026
- RAUM · $3.5B to $3.8BMar 13, 2025 to Mar 25, 2026
- Wrap assets (manager) · $13.9M to $5.1MMar 13, 2025 to Mar 25, 2026
- Financial planning clients · 0 to 0May 20, 2024 to Mar 13, 2025
- Accounts · 1,038 to 1,042May 20, 2024 to Mar 13, 2025
- Advisory employees · 12 to 13May 20, 2024 to Mar 13, 2025
- Charity clients · 70 to 79May 20, 2024 to Mar 13, 2025
- Corporate clients · 12 to 16May 20, 2024 to Mar 13, 2025
- HNW clients · 459 to 449May 20, 2024 to Mar 13, 2025
- Individual clients · 187 to 200May 20, 2024 to Mar 13, 2025
- Pension plan clients · 181 to 171May 20, 2024 to Mar 13, 2025
- Pooled vehicle clients · 0 to 2May 20, 2024 to Mar 13, 2025
- Assets in custody · $645M to $633MMay 20, 2024 to Mar 13, 2025
- Employees · 19 to 21May 20, 2024 to Mar 13, 2025
- State-registered IARs · 10 to 12May 20, 2024 to Mar 13, 2025
- Discretionary RAUM · $3.4B to $3.5BMay 20, 2024 to Mar 13, 2025
- HNW RAUM · $962M to $1.1BMay 20, 2024 to Mar 13, 2025
- Individual RAUM · $63.9M to $72.9MMay 20, 2024 to Mar 13, 2025
- Pension RAUM · $1.1B to $943MMay 20, 2024 to Mar 13, 2025
- RAUM · $3.4B to $3.5BMay 20, 2024 to Mar 13, 2025
- Wrap assets (manager) · $13.3M to $13.9MMay 20, 2024 to Mar 13, 2025
- Accounts · 953 to 1,038Jan 3, 2024 to Mar 27, 2024
- Advisory employees · 11 to 12Jan 3, 2024 to Mar 27, 2024
- Charity clients · 62 to 70Jan 3, 2024 to Mar 27, 2024
Signals
4 dated events
- Jed F Miller left Highland Capital Management, Llc for Agincourt Capital Management, Llc (registered 2025-08-18)Jul 2, 2025 · Advisor changed firm · fact
- Michael Steven Stack (Coo / Director Of Public Funds) no longer on Schedule A of Highland Capital Management, Llc (listed 2023-08-03, absent 2024-01-03)Jan 3, 2024 · Control person left · inference
- Nelms Lori Montgomery (Chief Compliance Officer) appeared on Schedule A of Highland Capital Management, LlcMar 3, 2023 · Control person joined · fact
- Marie Denise Spivey (Chief Compliance Officer) no longer on Schedule A of Highland Capital Management, Llc (listed 2022-04-01, absent 2023-01-26)Jan 26, 2023 · Control person left · inference
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/highland-capital-management-llcreportedpublic record, Form ADV, Sep 17, 2026
- Website
- HIGHLANDCAP.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 901-761-9500reportedpublic record, Form ADV, Jul 8, 2026
- Contact form
- highlandcap.com/get-in-touchreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- highlandcap.com/meet-the-teamreportedpublished by the firm, firm site, Sep 15, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Wealth manager with institutional or fund businessderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $323Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026