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

Zermatt Wealth Partners

Independent wealth managerSan Diego, CaliforniaCRD 105736SEC 801-17502website IAPD

Legal name Zermatt Wealth Partners LLC

Latest filing Jul 24, 2026

First filing on the tape Apr 2, 2012 · 50 filings

SEC status approved since Aug 18, 1982

RAUM

$158M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

97%

$153M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$52.8M

derived; firm RAUM over IAPD count

Employees

4 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

50 filings and snapshots on the tape

RAUM$158M as of Jul 24, 2026

Apr 2, 2012$188M then

HNW client RAUM$129M as of Jul 24, 2026

Feb 21, 2018$213M then

State-registered IARs (5.B.3)4 as of Jul 24, 2026

Apr 1, 20136 then

Employees (5.A)6 as of Jul 24, 2026

Apr 1, 20138 then

Private funds: no history

RAUM +36% over the last fiscal year+20% a year over threeIARs 4 to 4

Practice profile

derived from the filing of Jul 24, 2026; every figure names its basis

Archetypes, each a printed rule

HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
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

RAUM per advisor: $52.8MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 70derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $1.5MderivedHNW RAUM over HNW clients
Average account: $298,234derivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 0.6%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 2.0derivedItem 5.A over advisors
Advisors per office: 1.5derived2 offices incl. principal (1.F.5)
RAUM growth, one year: +36%derivedbetween the last two annual amendments
Advisor growth, one year: +0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year: +67%derived
Compensation: percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities: portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 5.G
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)

Where the RAUM sits

Form ADV Item 5.D, latest filing

High-net-worth individuals$129M81%
Individuals$24.3M15%
Corporations and businesses$4.3M2.7%
Pension and profit-sharing plans$915,4770.6%

Individual clients: 124reported
HNW clients: 85reported
Pension plan clients: 1reported
Charitable clients: 0reported
Accounts: 531reported
Financial planning clients: 1-10reported
Wrap fee programs: noreported
Custody of client assets: noreported
Compensation: % of AUM, fixed, hourlyreported
Class basis: private_client_share=0.97 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
Louis David Dworsky	Wilmington, Nc	Feb 14, 2025	39 y	10
Andrew Marshall Jensen	San Diego, Ca	Jan 2, 2026	16 y	2
Austin Joseph Griffie	Wilmington, Nc	Apr 21, 2026	13 y	2

Advisor movement

2 left, 1 joined in 12 months

net -1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 67% of current headcount5 left over 36 months

Left, latest

Grant Michael Sylvester to Farther
Apr 2, 2026 · RIA to RIA
Christopher Ryan Thomas to Farther
Apr 2, 2026 · RIA to RIA
Michael Lee Hudson to Farther
May 17, 2024 · RIA to RIA
Brian Patrick Fleming to Farther
May 17, 2024 · RIA to RIA
Noah Baum to UBS Financial Services Inc.
Nov 29, 2023 · RIA to wirehouse
Robert K Britton to Tcg Advisors, LP
Mar 3, 2020 · Other
Brooke Elizabeth Warner to Hoylecohen, LLC
Nov 15, 2017 · Other
Sean Patrick Nisil to Simplifi, Inc.
May 30, 2014 · Other
Anders Johan Norrman to Spreckels Wealth Management
Mar 21, 2014 · Other
Frederick Vinup Brooks to Blankinship & Foster, LLC
Nov 4, 2004 · Other

Joined, latest

Austin Joseph Griffie from Raymond James & Associates, Inc.
Apr 21, 2026 · Affiliated broker-dealer or bank to independent RIA
Christopher Ryan Thomas from Cambridge Investment Research Advisors, Inc.
Jun 5, 2025 · Affiliated broker-dealer or bank to independent RIA
Louis David Dworsky from Hayden Royal
Dec 12, 2021 · RIA to RIA
Michael Lee Hudson from Hayden Royal
Jul 20, 2021 · RIA to RIA
Brian Patrick Fleming from Hayden Royal
Jul 20, 2021 · RIA to RIA
Joseph Phillip Arce from Brandes Investment Partners, LP
Jan 15, 2015 · Other
Robert K Britton from Wells Fargo Investments, LLC
Oct 2, 2014 · Other
Brooke Elizabeth Warner from Equitable Advisors, LLC
Jul 2, 2014 · Other

Every departure Every arrival

Teams: two or more advisors moving together within fourteen days, from one state

2 left for Farther
Apr 2, 2026 · Wilmington, Nc

2 joined from Hayden Royal
Jul 19, 2021 · Charlotte, Nc

Teams out Teams in

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

David Louis Dworsky · Ceo & Chief Compliance Officercontrol
since 06/2020 · owns less than 5%
David Louis Dworsky · Partnercontrol
since 01/2018 · owns 25% to 50% of Zermatt Holdings, LLC
Edwin Meyer Dworsky · Partnercontrol
since 01/2018 · owns 25% to 50% of Zermatt Holdings, LLC
Thomas Ralph Mayes · Partnercontrol
since 01/2018 · owns 25% to 50% of Zermatt Holdings, LLC

Entity owners

Zermatt Holdings, LLC · Owner
direct · owns 75% or more

Related persons

Schedule D 7.A

Wfa Of San Diego
investment advisernRAUM $207M

Advisers that list Zermatt Wealth Partners as a related person

Office movement

IAPD branch city; joins and departures in 12 months

Office	Advisors	Joined	Left	Teams out	Forming
Wilmington, Nc	2	1	2	1
San Diego, Ca · principal	2	1	0

Offices

Schedule D 1.F, the 25 largest

Wilmington, NC3 employees

ADV anomalies

8 against comparable advisers; where to look, not conclusions

institutional to wealth shiftCombination · filing Mar 31, 2026
institutional share fell 15 points or more while private-client share rose 15 points or more. RAUM $116,022,167 to $158,362,396, advisors 4 to 4, private clients 125 to 209, offices 1 to 1 (2025-03-31 to 2026-03-31)
peers: independent wealth managers, $100M to $500M (5,676)
account count surgeChange between filings · filing Mar 31, 2026
accounts (Item 5.F.2.f) moved from 254.0 to 531.0 (+109.0%) between the annual amendments of 2025-03-31 and 2026-03-31; the peer median change was +5.0% (3688 comparable advisers, 98.0th percentile of changes)
peers: independent wealth managers, $100M to $500M (3,688) · 98% percentile
client count surgeChange between filings · filing Mar 31, 2026
individual and HNW clients (Item 5.D) moved from 125.0 to 209.0 (+67.0%) between the annual amendments of 2025-03-31 and 2026-03-31; the peer median change was +3.0% (3310 comparable advisers, 98.0th percentile of changes)
peers: independent wealth managers, $100M to $500M (3,310) · 98% percentile
client mix shiftChange between filings · filing Mar 31, 2026
private-client share of RAUM moved from 71.0% to 97.0% between the annual amendments of 2025-03-31 and 2026-03-31
peers: independent wealth managers, $100M to $500M (5,676)
HNW share shiftChange between filings · filing Mar 31, 2026
HNW share of RAUM moved from 62.0% to 81.0% between the annual amendments of 2025-03-31 and 2026-03-31
peers: independent wealth managers, $100M to $500M (5,676)
institutional asset share shiftChange between filings · filing Mar 31, 2026
institutional share of RAUM moved from 29.0% to 3.0% between the annual amendments of 2025-03-31 and 2026-03-31
peers: independent wealth managers, $100M to $500M (5,676)
discretionary share shiftChange between filings · filing Mar 31, 2026
discretionary share of RAUM moved from 69.0% to 100.0% between the annual amendments of 2025-03-31 and 2026-03-31
peers: independent wealth managers, $100M to $500M (5,676)
RAUM up 25 %Change between filings · filing Mar 31, 2026
RAUM (Item 5.F) moved from $116,022,167 to $158,362,396 (+36.0%) between the annual amendments of 2025-03-31 and 2026-03-31; the peer median change was +15.0% (4551 comparable advisers, 91.0th percentile of changes)
peers: independent wealth managers, $100M to $500M (4,551) · 91% percentile

How anomalies are measured

What changed

consecutive filings, newest first

Accounts · 254 to 531
Jan 12, 2026 to Mar 31, 2026
Corporate clients · 0 to 1
Jan 12, 2026 to Mar 31, 2026
HNW clients · 35 to 85
Jan 12, 2026 to Mar 31, 2026
Individual clients · 90 to 124
Jan 12, 2026 to Mar 31, 2026
Pension plan clients · 2 to 1
Jan 12, 2026 to Mar 31, 2026
Discretionary RAUM · $80.6M to $158M
Jan 12, 2026 to Mar 31, 2026
HNW RAUM · $71.5M to $129M
Jan 12, 2026 to Mar 31, 2026
Individual RAUM · $11.2M to $24.3M
Jan 12, 2026 to Mar 31, 2026
Non-discretionary RAUM · $35.4M to $0
Jan 12, 2026 to Mar 31, 2026
Pension RAUM · $33.3M to $915,477
Jan 12, 2026 to Mar 31, 2026
RAUM · $116M to $158M
Jan 12, 2026 to Mar 31, 2026
Accounts · 581 to 254
Feb 6, 2025 to Mar 31, 2025
Advisory employees · 5 to 4
Feb 6, 2025 to Mar 31, 2025
BD registered reps · 3 to 0
Feb 6, 2025 to Mar 31, 2025
HNW clients · 55 to 35
Feb 6, 2025 to Mar 31, 2025
Individual clients · 482 to 90
Feb 6, 2025 to Mar 31, 2025
Employees · 7 to 6
Feb 6, 2025 to Mar 31, 2025
Insurance-licensed employees · 3 to 1
Feb 6, 2025 to Mar 31, 2025
Financial planning clients · 1-10 to 1-10
Feb 6, 2025 to Mar 31, 2025
State-registered IARs · 5 to 4
Feb 6, 2025 to Mar 31, 2025
Discretionary RAUM · $150M to $80.6M
Feb 6, 2025 to Mar 31, 2025
HNW RAUM · $67.6M to $71.5M
Feb 6, 2025 to Mar 31, 2025
Individual RAUM · $52.8M to $11.2M
Feb 6, 2025 to Mar 31, 2025
Non-discretionary RAUM · $0 to $35.4M
Feb 6, 2025 to Mar 31, 2025
Pension RAUM · $29.6M to $33.3M
Feb 6, 2025 to Mar 31, 2025
RAUM · $150M to $116M
Feb 6, 2025 to Mar 31, 2025
Accounts · 301 to 581
Nov 29, 2023 to Mar 29, 2024
Advisory employees · 6 to 5
Nov 29, 2023 to Mar 29, 2024
HNW clients · 60 to 55
Nov 29, 2023 to Mar 29, 2024
Individual clients · 207 to 482
Nov 29, 2023 to Mar 29, 2024
Pension plan clients · 34 to 2
Nov 29, 2023 to Mar 29, 2024
Employees · 8 to 7
Nov 29, 2023 to Mar 29, 2024
State-registered IARs · 6 to 5
Nov 29, 2023 to Mar 29, 2024
Discretionary RAUM · $94.1M to $150M
Nov 29, 2023 to Mar 29, 2024
HNW RAUM · $38.7M to $67.6M
Nov 29, 2023 to Mar 29, 2024
Individual RAUM · $26.0M to $52.8M
Nov 29, 2023 to Mar 29, 2024
Pension RAUM · $29.3M to $29.6M
Nov 29, 2023 to Mar 29, 2024
RAUM · $94.1M to $150M
Nov 29, 2023 to Mar 29, 2024
Accounts · 524 to 301
Apr 21, 2023 to Aug 11, 2023
HNW clients · 47 to 60
Apr 21, 2023 to Aug 11, 2023

Signals

19 dated events

Grant Michael Sylvester left Zermatt Wealth Partners for Farther (registered 2026-04-02)
Apr 2, 2026 · Advisor changed firm · fact
Christopher Ryan Thomas left Zermatt Wealth Partners for Farther (registered 2026-03-24)
Apr 2, 2026 · Advisor changed firm · fact
2 advisors left Zermatt Wealth Partners (Wilmington, NC) for Farther on the same day
Apr 2, 2026 · Team lift-out · derived
Michael Lee Hudson left Zermatt Wealth Partners for Farther (registered 2024-06-03)
May 17, 2024 · Advisor changed firm · fact
Brian Patrick Fleming left Zermatt Wealth Partners for Farther (registered 2024-06-03)
May 17, 2024 · Advisor changed firm · fact
Lee Michael Hudson (Chief Compliance Officer) no longer on Schedule A of Zermatt Wealth Partners (listed 2024-05-15, absent 2024-05-17)
May 17, 2024 · Control person left · inference
Noah Baum left Zermatt Wealth Partners for Ubs Financial Services Inc. (registered 2023-12-07)
Nov 29, 2023 · Advisor changed firm · fact
Lee Michael Hudson (Chief Compliance Officer) appeared on Schedule A of Zermatt Wealth Partners
Nov 29, 2023 · Control person joined · fact
Perdue Alisha Dowell (Chief Compliance Officer) no longer on Schedule A of Zermatt Wealth Partners (listed 2023-08-11, absent 2023-11-29)
Nov 29, 2023 · Control person left · inference
Perdue Alisha Dowell (Chief Compliance Officer) appeared on Schedule A of Zermatt Wealth Partners
Apr 21, 2023 · Control person joined · fact
Thomas Ralph Mayes (Partner) appeared on Schedule A of Zermatt Wealth Partners
Jul 22, 2021 · Control person joined · fact
Edwin Meyer Dworsky (Partner) appeared on Schedule A of Zermatt Wealth Partners
Jul 22, 2021 · Control person joined · fact
Wfa Wealth Managers reported succeeding to the business of Another Adviser (Form ADV Item 4)
Mar 31, 2021 · Succession (Item 4) · fact
Zermatt Wealth Partners reported RAUM $8.4M, down 97% from $288.6M (2020-08-21 to 2021-03-31)
Mar 31, 2021 · RAUM change · derived
Ryder Peter Wheeler (Chief Executive Officer) no longer on Schedule A of Zermatt Wealth Partners (listed 2020-03-06, absent 2020-06-30)
Jun 30, 2020 · Control person left · inference
Grover Kenneth Frost (Chief Investment Officer) no longer on Schedule A of Zermatt Wealth Partners (listed 2020-03-06, absent 2020-06-30)
Jun 30, 2020 · Control person left · inference
Phipps David White (Vice President) no longer on Schedule A of Zermatt Wealth Partners (listed 2020-03-06, absent 2020-06-30)
Jun 30, 2020 · Control person left · inference
Phillip Joseph Arce (Chief Compliance Officer / Chief Operating Officer) no longer on Schedule A of Zermatt Wealth Partners (listed 2020-03-06, absent 2020-06-30)
Jun 30, 2020 · Control person left · inference
David Louis Dworsky (Ceo And Cco) appeared on Schedule A of Zermatt Wealth Partners
Jun 30, 2020 · Control person joined · fact

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

Business phone: 888-426-6066reportedpublished by the firm, firm site, Sep 16, 2026
Business phone: 910-222-3926reportedpublished by the firm, firm site, Sep 16, 2026
Firm profile: LINKEDIN.COM/COMPANY/zermatt-wealth-partnersreportedpublic record, Form ADV, Sep 17, 2026
Website: zermattwealthpartners.comreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone: 619-491-0225reportedpublic record, Form ADV, Jul 24, 2026
Contact form: zermattwealthpartners.com/contact-usreportedpublished by the firm, firm site, Sep 16, 2026
Team page: zermattwealthpartners.com/teamreportedpublished by the firm, firm site, Sep 16, 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: $52.8Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026