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
Accredited Investors Wealth Management
Legal name Accredited Investors Inc
Latest filing Aug 6, 2026
First filing on the tape Jan 11, 2012 · 24 filings
SEC status approved since Jan 9, 1989
RAUM
$4.4B
reported, Item 5.F
Discretionary
91%
of RAUM
Private clients
99%
$4.4B individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$1.5B
derived; firm RAUM over IAPD count
Employees
53
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
24 filings and snapshots on the tape
RAUM$4.4B as of Aug 6, 2026
Jan 11, 2012$914M then
HNW client RAUM$4.3B as of Aug 6, 2026
Mar 27, 2018$1.9B then
State-registered IARs (5.B.3)4 as of Aug 6, 2026
Jan 11, 20120 then
Employees (5.A)53 as of Aug 6, 2026
Mar 22, 201333 then
Private funds: no history
RAUM +19% over the last fiscal year+14% a year over threeIARs 4 to 4
Practice profile
derived from the filing of Aug 6, 2026; every figure names its basis
Archetypes, each a printed rule
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- Planning-led practice · financial planning activity (5.G.1), at least 100 financial planning clients (5.H), and hourly, fixed or subscription compensation (5.E)
- Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
- RAUM per advisor
- $1.5BderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 314derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $6.1MderivedHNW RAUM over HNW clients
- Average account
- $869,192derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 91%derivedof RAUM
- Institutional
- 0.5%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 17.7derivedItem 5.A over advisors
- Advisors per office
- 3.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +19%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +4.7%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, selection of other advisersreportedItem 5.G
- Financial planning clients
- 817reportedItem 5.H
- Custody
- $2.3B, 727 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)
- 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
- High-net-worth individuals$4.3B97%
- Individuals$92.0M2.1%
- Charitable organizations$23.7M0.5%
- Individual clients
- 233reported
- HNW clients
- 709reported
- Pension plan clients
- n/areported
- Charitable clients
- 5reported
- Accounts
- 5,077reported
- Financial planning clients
- 817reported
- Wrap fee programs
- noreported
- Custody of client assets
- $2.3B for 727 clientsreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=0.99 fund_share=0.0 institutional_share=0.01 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Jacob WolkowitzChartered Financial Analyst | Edina, Mn | Aug 22, 2012 | 15 y | 0 |
| Sean Patrick SmithChartered Financial Analyst | Edina, Mn | Jan 30, 2014 | 23 y | 1 |
| Ross LevinCertified Financial Planner | Edina, Mn | Jan 30, 2014 | 44 y | 1 |
Advisor movement
1 left, 0 joined in 12 months
net -1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 33% of current headcount1 left over 36 months
Left, latest
- Frederick Robert Semmer to Caissa Wealth StrategiesMay 19, 2026 · RIA to RIA
Joined, latest
- Sean Patrick Smith from Stifel, Nicolaus & Company, IncorporatedJan 30, 2014 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Joel Jeremy Heckman · Shareholder/Directorcontrolsince 01/2021 · owns 5% to 10%
- Theo Willis Heupel · Shareholder/Directorcontrolsince 10/1988 · owns 5% to 10%
- Marie Jenna Holm · Chief Compliance Officer/Shareholdercontrolsince 02/2017 · owns less than 5%
- Amelia Jessica Jones · Chief Operating Officer/Shareholdercontrolsince 07/2026 · owns less than 5%
- Mary Rebecca Krieger · Managing Partner/Officer/Shareholder/Directorcontrolsince 02/2017 · owns 10% to 25%
- Ross Levin · Shareholder/Directorcontrolsince 03/1986 · owns 5% to 10%
- Gregory Brian Martin · Managing Partner/Officer/Shareholder/Directorcontrolsince 02/2017 · owns 10% to 25%
- Jacob Wolkowitz · Chief Investment Officer/Shareholdercontrolsince 02/2017 · owns 5% to 10%
- Scott Steven Gilbertson · Shareholdersince 01/2021 · owns 5% to 10%
- Richard Brandon Jones · Shareholdersince 01/2021 · owns 5% to 10%
- Patrick Sean Smith · Shareholdersince 01/2023 · owns 5% to 10%
Entity owners
- Wil Heupel 2024 Grantor · Shareholderdirect · owns 5% to 10%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Edina, Mn · principal | 3 | 0 | 1 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
5 against comparable advisers; where to look, not conclusions
- very high RAUM per advisorStatic outlier · filing Aug 6, 2026RAUM per registered advisor of $1,470,962,079 against a peer median of $146,413,945 (1221 comparable advisers, 100.0th percentile, 13.4 robust deviations)peers: independent wealth managers, $1B to $5B (1,221) · 100% percentile
- control person changedChange between filings · filing Aug 6, 2026JONES, JESSICA, AMELIA (CHIEF OPERATING OFFICER/SHAREHOLDER) appeared on Schedule A between the filings of 2023-03-03 and 2026-08-06peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 6, 2026WOLKOWITZ, JACOB (CHIEF INVESTMENT OFFICER/SHAREHOLDER) left Schedule A between the filings of 2023-03-03 and 2026-08-06peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 6, 2026HECKMAN, JEREMY, JOEL (SHAREHOLDER/DIRECTOR) left Schedule A between the filings of 2023-03-03 and 2026-08-06peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 6, 2026Holm, Jenna, Marie (CHIEF COMPLIANCE OFFICER/SHAREHOLDER) left Schedule A between the filings of 2023-03-03 and 2026-08-06peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Accounts · 4,848 to 5,077Jan 5, 2026 to Mar 12, 2026
- Charity clients · unset to 5.0Jan 5, 2026 to Mar 12, 2026
- HNW clients · 662 to 709Jan 5, 2026 to Mar 12, 2026
- Individual clients · 238 to 233Jan 5, 2026 to Mar 12, 2026
- Assets in custody · $2.0B to $2.3BJan 5, 2026 to Mar 12, 2026
- Employees · 54 to 53Jan 5, 2026 to Mar 12, 2026
- Discretionary RAUM · $3.4B to $4.0BJan 5, 2026 to Mar 12, 2026
- HNW RAUM · $3.6B to $4.3BJan 5, 2026 to Mar 12, 2026
- Individual RAUM · $103M to $92.0MJan 5, 2026 to Mar 12, 2026
- Non-discretionary RAUM · $312M to $386MJan 5, 2026 to Mar 12, 2026
- RAUM · $3.7B to $4.4BJan 5, 2026 to Mar 12, 2026
- Accounts · 4,519 to 4,848Mar 13, 2024 to Apr 21, 2025
- HNW clients · 519 to 662Mar 13, 2024 to Apr 21, 2025
- Individual clients · 78 to 238Mar 13, 2024 to Apr 21, 2025
- Assets in custody · $1.7B to $2.0BMar 13, 2024 to Apr 21, 2025
- Employees · 52 to 54Mar 13, 2024 to Apr 21, 2025
- Financial planning clients · More than 500 to More than 500Mar 13, 2024 to Apr 21, 2025
- Discretionary RAUM · $3.1B to $3.4BMar 13, 2024 to Apr 21, 2025
- HNW RAUM · $3.3B to $3.6BMar 13, 2024 to Apr 21, 2025
- Individual RAUM · $39.4M to $103MMar 13, 2024 to Apr 21, 2025
- Non-discretionary RAUM · $237M to $312MMar 13, 2024 to Apr 21, 2025
- RAUM · $3.4B to $3.7BMar 13, 2024 to Apr 21, 2025
- Accounts · 4,410 to 4,519Mar 3, 2023 to Mar 13, 2024
- HNW clients · 509 to 519Mar 3, 2023 to Mar 13, 2024
- Individual clients · 81 to 78Mar 3, 2023 to Mar 13, 2024
- Assets in custody · $1.3B to $1.7BMar 3, 2023 to Mar 13, 2024
- Employees · 54 to 52Mar 3, 2023 to Mar 13, 2024
- Discretionary RAUM · $2.8B to $3.1BMar 3, 2023 to Mar 13, 2024
- HNW RAUM · $2.9B to $3.3BMar 3, 2023 to Mar 13, 2024
- Individual RAUM · $37.5M to $39.4MMar 3, 2023 to Mar 13, 2024
- Non-discretionary RAUM · $184M to $237MMar 3, 2023 to Mar 13, 2024
- RAUM · $3.0B to $3.4BMar 3, 2023 to Mar 13, 2024
- Accounts · 4,416 to 4,410Mar 31, 2022 to Mar 3, 2023
- HNW clients · 506 to 509Mar 31, 2022 to Mar 3, 2023
- Individual clients · 76 to 81Mar 31, 2022 to Mar 3, 2023
- Assets in custody · $1.6B to $1.3BMar 31, 2022 to Mar 3, 2023
- Employees · 49 to 54Mar 31, 2022 to Mar 3, 2023
- Discretionary RAUM · $3.2B to $2.8BMar 31, 2022 to Mar 3, 2023
- HNW RAUM · $3.3B to $2.9BMar 31, 2022 to Mar 3, 2023
- Individual RAUM · $35.6M to $37.5MMar 31, 2022 to Mar 3, 2023
Signals
3 dated events
- Frederick Robert Semmer left Accredited Investors Wealth Management for Caissa Wealth Strategies (registered 2026-06-04)May 19, 2026 · Advisor changed firm · fact
- Accredited Investors Wealth Management reported RAUM $3.4B, up 26% from $2.7B (2021-03-15 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- Scott Steven Gilbertson (Shareholder/Director) appeared on Schedule A of Accredited Investors Wealth ManagementMar 15, 2021 · Control person joined · fact
Across DFX
shared identifiers only, never a name match
- Accredited Investors Wealth Management · Private Equityshared crd · intermediary
How to reach
public business contact points only, each with its source
- Business phone
- 952-841-2222reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- LINKEDIN.COM/COMPANY/ACCREDITED-INVESTORS-INC-reportedpublic record, Form ADV, Sep 17, 2026
- Website
- ACCREDITED.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 952-841-2222reportedpublic record, Form ADV, Aug 6, 2026
- Contact form
- ACCREDITED.COM/contact-usreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- ACCREDITED.COM/our-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
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $1.5Bderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026