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.

Former SEC-registered adviser

The Clifton Group Investment Management Company

Former SEC-registered adviserMinneapolis, MinnesotaCRD 105370SEC 801-8809IAPD
Latest filing Jan 18, 2013
First filing on the tape Dec 20, 2011 · 6 filings
RAUM
$31B
reported, Item 5.F
Discretionary
84%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
45
19 advisory (5.B.1)
Offices
n/a
beyond the principal office
Private funds
6
$427M gross assets
History
6 filings and snapshots on the tape
RAUM$31B as of Jan 18, 2013
Dec 20, 2011$31B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Jan 18, 2013
Dec 20, 20110 then
Employees (5.A): 45
Private funds6 as of Jan 18, 2013
Mar 30, 20121 then
RAUM n/a over the last fiscal year
Practice profile
derived from the filing of Jan 18, 2013; every figure names its basis
RAUM per advisor
unknownderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$180MderivedRAUM over accounts (5.F.2.f)
Discretionary
84%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived2 offices incl. principal (1.F.5)
RAUM growth, one year
unknownderivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, fixed fees, performance-basedreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, portfolio management for investment companies, publicationsreportedItem 5.G
Custody
$409M, 6 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)
  • has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
This filing has no Item 5.D breakdown (filings before 2017 reported ranges, not amounts).
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
172reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
$409M for 6 clientsreported
Compensation
% of AUM, fixed, performancereported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Every departureEvery arrival
      Private funds
      No private fund reported.
      Owners and control persons
      Schedule A and B, latest filing
      • Joseph Thomas Abood · Secretary, Director, Chairmancontrol
        since 04/1996 · owns 10% to 25%
      • Young Orison Chaffee · Managing Principal, Presidentcontrol
        since 09/2008 · owns 5% to 10%
      • Emmett Michael Dougherty · Shareholdercontrol
        since 04/1996 · owns 25% to 50%
      • Legare Jack Hansen · Principal, Evp, Chief Investment Officer And Directorcontrol
        since 06/1985 · owns 5% to 10%
      • Bernard Thomas Lee · Principal, Senior Portfolio Managercontrol
        since 06/1994 · owns 5% to 10%
      • Marie Michelle Sandberg · Treasurer, Directorcontrol
        since 07/1997 · owns less than 5%
      • Anne Kathleen Dougherty · Shareholder
        since 12/2010 · owns 5% to 10%
      • Kay Reinitz Pamela Ziermann · Sr Vice President,Compliance, Chief Compliance Officer
        since 04/1996 · owns less than 5%
      Entity owners
      • Gerald A. Kraut, Trustee Of The Gerald A. Kraut Qualified Subchapter S Trust · Shareholder
        direct · owns 10% to 25%
      • Kathleen A. Dougherty Irrevocable Trust Agreement Dated December 20th, 2010 · Non-Voting Shareholder Trust
        direct · owns 10% to 25%
      • Michael E. Dougherty Irrevocable Trust Agreement Dated December 20th, 2010 · Non-Voting Shareholder Trust
        direct · owns 10% to 25%
      Related persons
      Schedule D 7.A
      Offices
      Schedule D 1.F, the 25 largest
      • ,
      What changed
      consecutive filings, newest first
      • Advisory employees · unset to 19.0
        Aug 23, 2012 to Jan 18, 2013
      • Employees · unset to 45.0
        Aug 23, 2012 to Jan 18, 2013
      • Assets in custody · $226M to $409M
        Apr 13, 2012 to Aug 23, 2012
      • Private funds · 3 to 6
        Apr 13, 2012 to Aug 23, 2012
      • Private funds · 1 to 3
        Mar 30, 2012 to Apr 13, 2012
      • Accounts · 150 to 172
        Dec 20, 2011 to Mar 30, 2012
      • Advisory activities · 4 to 5
        Dec 20, 2011 to Mar 30, 2012
      • Assets in custody · $0 to $226M
        Dec 20, 2011 to Mar 30, 2012
      • Insurance-licensed employees · unset to 0.0
        Dec 20, 2011 to Mar 30, 2012
      • Private funds · unset to 1
        Dec 20, 2011 to Mar 30, 2012
      • Discretionary RAUM · $29B to $26B
        Dec 20, 2011 to Mar 30, 2012
      • Non-discretionary RAUM · $2.9B to $5.1B
        Dec 20, 2011 to Mar 30, 2012
      • RAUM · $31B to $31B
        Dec 20, 2011 to Mar 30, 2012
      • Related bank · false to true
        Dec 20, 2011 to Mar 30, 2012
      Signals
      No event on the tape.
      Across DFX
      shared identifiers only, never a name match
      No identifier-backed link to the venture, private equity, family office or sponsor graphs.
      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
      Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
      RAUM per advisor
      n/aderivedfirm RAUM over the IAPD count; not a book size
      Loaded
      Sep 14, 2026