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

Horan Capital Management,LLC

Former SEC-registered adviserHunt Valley, MarylandCRD 106415SEC 801-48749IAPD
Latest filing May 13, 2020
First filing on the tape Mar 26, 2012 · 21 filings
RAUM
$723M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
95%
$689M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
10
6 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
21 filings and snapshots on the tape
RAUM$723M as of Feb 10, 2020
Mar 26, 2012$396M then
HNW client RAUM$523M as of Feb 10, 2020
Feb 28, 2018$383M then
State-registered IARs (5.B.3)2 as of Feb 10, 2020
Mar 26, 20120 then
Employees (5.A)10 as of Feb 10, 2020
Feb 21, 201310 then
Private funds: no history
RAUM +26% over the last fiscal year+14% a year over threeIARs 2 to 2
Practice profile
derived from the filing of May 13, 2020; every figure names its basis
RAUM per advisor
$362MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
338derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.2MderivedHNW RAUM over HNW clients
Average account
$527,234derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
3.3%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
5.0derivedItem 5.A over advisors
Advisors per office
2.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+26%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
-4.1%derived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
Financial planning clients
1,000reportedItem 5.H
Custody
$182M, 244 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$523M72%
  • Individuals$166M23%
  • Pension and profit-sharing plans$20.0M2.8%
  • Corporations and businesses$10.8M1.5%
  • Charitable organizations$3.8M0.5%
Individual clients
433reported
HNW clients
242reported
Pension plan clients
11reported
Charitable clients
n/areported
Accounts
1,372reported
Financial planning clients
1,000reported
Wrap fee programs
noreported
Custody of client assets
$182M for 244 clientsreported
Compensation
% of AUMreported
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
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
    • Gordon John Heinlein · Chief Executive Officer And Portfolio Managercontrol
      since 02/1995 · owns 75% or more
    • Matt Rockstroh · Chief Operating Officer And Chief Compliance Officercontrol
      since 03/2014 · owns less than 5%
    Entity owners
    • Horan Enterprises, Inc. · General Partner
      direct · owns less than 5%
    Related persons
    Schedule D 7.A
    No related person reported.
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Accounts · 1,422 to 1,372
      Nov 12, 2019 to Feb 10, 2020
    • Corporate clients · 7 to 8
      Nov 12, 2019 to Feb 10, 2020
    • HNW clients · 185 to 242
      Nov 12, 2019 to Feb 10, 2020
    • Individual clients · 519 to 433
      Nov 12, 2019 to Feb 10, 2020
    • Assets in custody · $162M to $182M
      Nov 12, 2019 to Feb 10, 2020
    • Discretionary RAUM · $575M to $723M
      Nov 12, 2019 to Feb 10, 2020
    • HNW RAUM · $364M to $523M
      Nov 12, 2019 to Feb 10, 2020
    • Individual RAUM · $189M to $166M
      Nov 12, 2019 to Feb 10, 2020
    • Pension RAUM · $12.5M to $20.0M
      Nov 12, 2019 to Feb 10, 2020
    • RAUM · $575M to $723M
      Nov 12, 2019 to Feb 10, 2020
    • Accounts · 1,421 to 1,422
      Feb 28, 2018 to Feb 6, 2019
    • Corporate clients · 5 to 7
      Feb 28, 2018 to Feb 6, 2019
    • HNW clients · 193 to 185
      Feb 28, 2018 to Feb 6, 2019
    • Individual clients · 529 to 519
      Feb 28, 2018 to Feb 6, 2019
    • Pension plan clients · 9 to 11
      Feb 28, 2018 to Feb 6, 2019
    • Assets in custody · $141M to $162M
      Feb 28, 2018 to Feb 6, 2019
    • Discretionary RAUM · $605M to $575M
      Feb 28, 2018 to Feb 6, 2019
    • HNW RAUM · $383M to $364M
      Feb 28, 2018 to Feb 6, 2019
    • Individual RAUM · $202M to $189M
      Feb 28, 2018 to Feb 6, 2019
    • Pension RAUM · $11.0M to $12.5M
      Feb 28, 2018 to Feb 6, 2019
    • RAUM · $605M to $575M
      Feb 28, 2018 to Feb 6, 2019
    • Accounts · 1,297 to 1,421
      Mar 1, 2017 to Feb 28, 2018
    • Corporate clients · unset to 5.0
      Mar 1, 2017 to Feb 28, 2018
    • HNW clients · unset to 193.0
      Mar 1, 2017 to Feb 28, 2018
    • Individual clients · unset to 529.0
      Mar 1, 2017 to Feb 28, 2018
    • Pension plan clients · unset to 9.0
      Mar 1, 2017 to Feb 28, 2018
    • Assets in custody · unset to 141263315.0
      Mar 1, 2017 to Feb 28, 2018
    • Custody of client assets · false to true
      Mar 1, 2017 to Feb 28, 2018
    • Employees · 11 to 10
      Mar 1, 2017 to Feb 28, 2018
    • Financial planning clients · 251-500 to More than 500
      Mar 1, 2017 to Feb 28, 2018
    • Other offices · unset to 0.0
      Mar 1, 2017 to Feb 28, 2018
    • Discretionary RAUM · $485M to $605M
      Mar 1, 2017 to Feb 28, 2018
    • HNW RAUM · unset to 382600243.0
      Mar 1, 2017 to Feb 28, 2018
    • Individual RAUM · unset to 201600548.0
      Mar 1, 2017 to Feb 28, 2018
    • Pension RAUM · unset to 10958711.0
      Mar 1, 2017 to Feb 28, 2018
    • RAUM · $485M to $605M
      Mar 1, 2017 to Feb 28, 2018
    • Accounts · 1,274 to 1,297
      Jun 20, 2016 to Mar 1, 2017
    • Employees · 12 to 11
      Jun 20, 2016 to Mar 1, 2017
    • Financial planning clients · More than 500 to 251-500
      Jun 20, 2016 to Mar 1, 2017
    • Discretionary RAUM · $442M to $485M
      Jun 20, 2016 to Mar 1, 2017
    Signals
    1 dated events
    • Horan Capital Management,Llc reported RAUM $723.4M, up 26% from $575.0M (2019-11-12 to 2020-02-10)
      Feb 10, 2020 · RAUM change · derived
    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