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

Rowland Carmichael Advisors Inc

Former SEC-registered adviserScottsdale, ArizonaCRD 105766SEC 801-31188IAPD
Latest filing Jan 13, 2021
First filing on the tape Apr 2, 2012 · 24 filings
RAUM
$266M
reported, Item 5.F
Discretionary
94%
of RAUM
Private clients
89%
$237M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
7
7 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$266M as of Mar 23, 2020
Apr 2, 2012$387M then
HNW client RAUM$194M as of Mar 23, 2020
Mar 21, 2018$159M then
State-registered IARs (5.B.3)7 as of Mar 23, 2020
Apr 2, 20120 then
Employees (5.A)7 as of Mar 23, 2020
Mar 25, 201311 then
Private funds: no history
RAUM -17% over the last fiscal year+10% a year over threeIARs 6 to 7
Practice profile
derived from the filing of Jan 13, 2021; every figure names its basis
RAUM per advisor
$38.1MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
27derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.7MderivedHNW RAUM over HNW clients
Average account
$452,218derivedRAUM over accounts (5.F.2.f)
Discretionary
94%derivedof RAUM
Institutional
8.9%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.0derivedItem 5.A over advisors
Advisors per office
7.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
-17%derivedbetween the last two annual amendments
Advisor growth, one year
+17%derivedItem 5.B.3 between annual amendments
Client growth, one year
+3.2%derived
Compensation
percentage of assets, hourly, fixed fees, commissionsreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisersreportedItem 5.G
Custody
$86.4M, 120 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
  • is an insurance broker or agent (6.A.6)
  • 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$194M73%
  • Individuals$43.1M16%
  • Charitable organizations$19.6M7.4%
  • Corporations and businesses$5.2M1.9%
  • Pension and profit-sharing plans$4.2M1.6%
Individual clients
119reported
HNW clients
72reported
Pension plan clients
6reported
Charitable clients
7reported
Accounts
589reported
Financial planning clients
1-10reported
Wrap fee programs
noreported
Custody of client assets
$86.4M for 120 clientsreported
Compensation
% of AUM, fixed, hourly, commissionsreported
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
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • Marshall Corey Bird · Principal And Wealth Managercontrol
      since 01/2017 · owns less than 5%
    • Lee David Carmichael · President And Founding Principalcontrol
      since 07/1986 · owns less than 5%
    • David Jaron Carmichael · Principal And Wealth Managercontrol
      since 01/2017 · owns less than 5%
    • Lee Timothly Rowland · Chairman And Founding Principalcontrol
      since 07/1986 · owns less than 5%
    • Lee Janice Orick · Vice President Of Operations And Chief Compliance Officer
      since 09/1998 · owns less than 5%
    Entity owners
    • Mercer Global Advisors Inc. · Parent Company
      direct · owns 75% or more
    Related persons
    Schedule D 7.A
    • Rowland Carmichael Advisors Inc
      investment companyreal estatey
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Accounts · 625 to 589
      Mar 26, 2019 to Mar 23, 2020
    • Advisory employees · 6 to 7
      Mar 26, 2019 to Mar 23, 2020
    • Charity clients · 4 to 7
      Mar 26, 2019 to Mar 23, 2020
    • HNW clients · 59 to 72
      Mar 26, 2019 to Mar 23, 2020
    • Individual clients · 126 to 119
      Mar 26, 2019 to Mar 23, 2020
    • Pension plan clients · 19 to 6
      Mar 26, 2019 to Mar 23, 2020
    • Assets in custody · $37.6M to $86.4M
      Mar 26, 2019 to Mar 23, 2020
    • Employees · 8 to 7
      Mar 26, 2019 to Mar 23, 2020
    • Financial planning clients · 51-100 to 1-10
      Mar 26, 2019 to Mar 23, 2020
    • State-registered IARs · 6 to 7
      Mar 26, 2019 to Mar 23, 2020
    • Discretionary RAUM · $319M to $250M
      Mar 26, 2019 to Mar 23, 2020
    • HNW RAUM · $177M to $194M
      Mar 26, 2019 to Mar 23, 2020
    • Individual RAUM · $43.4M to $43.1M
      Mar 26, 2019 to Mar 23, 2020
    • Non-discretionary RAUM · $2.6M to $16.8M
      Mar 26, 2019 to Mar 23, 2020
    • Pension RAUM · $82.8M to $4.2M
      Mar 26, 2019 to Mar 23, 2020
    • RAUM · $322M to $266M
      Mar 26, 2019 to Mar 23, 2020
    • Accounts · 588 to 625
      Oct 5, 2018 to Mar 26, 2019
    • Advisory employees · 5 to 6
      Oct 5, 2018 to Mar 26, 2019
    • Charity clients · 1 to 4
      Oct 5, 2018 to Mar 26, 2019
    • Corporate clients · 5 to 6
      Oct 5, 2018 to Mar 26, 2019
    • HNW clients · 52 to 59
      Oct 5, 2018 to Mar 26, 2019
    • Individual clients · 128 to 126
      Oct 5, 2018 to Mar 26, 2019
    • Pension plan clients · 7 to 19
      Oct 5, 2018 to Mar 26, 2019
    • Pooled vehicle clients · unset to 0.0
      Oct 5, 2018 to Mar 26, 2019
    • Assets in custody · $86.1M to $37.6M
      Oct 5, 2018 to Mar 26, 2019
    • Employees · 9 to 8
      Oct 5, 2018 to Mar 26, 2019
    • Discretionary RAUM · $228M to $319M
      Oct 5, 2018 to Mar 26, 2019
    • HNW RAUM · $159M to $177M
      Oct 5, 2018 to Mar 26, 2019
    • Individual RAUM · $49.4M to $43.4M
      Oct 5, 2018 to Mar 26, 2019
    • Non-discretionary RAUM · $9.2M to $2.6M
      Oct 5, 2018 to Mar 26, 2019
    • Pension RAUM · $12.0M to $82.8M
      Oct 5, 2018 to Mar 26, 2019
    • RAUM · $237M to $322M
      Oct 5, 2018 to Mar 26, 2019
    • Assets in custody · unset to 86057015.0
      Mar 21, 2018 to Oct 5, 2018
    • Custody of client assets · false to true
      Mar 21, 2018 to Oct 5, 2018
    • Accounts · 574 to 588
      Sep 22, 2017 to Mar 21, 2018
    • Advisory employees · 7 to 5
      Sep 22, 2017 to Mar 21, 2018
    • Advisory activities · 4 to 5
      Sep 22, 2017 to Mar 21, 2018
    • Charity clients · unset to 1.0
      Sep 22, 2017 to Mar 21, 2018
    • Corporate clients · unset to 5.0
      Sep 22, 2017 to Mar 21, 2018
    • HNW clients · unset to 52.0
      Sep 22, 2017 to Mar 21, 2018
    Signals
    No event on the tape.
    Across DFX
    shared identifiers only, never a name match
    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