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
Iron Financial LLC
Latest filing Jul 1, 2026
First filing on the tape Mar 16, 2012 · 38 filings
SEC status approved since May 18, 1994
RAUM
$489M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
94%
$462M individuals and HNW
Advisors
4
registered through the firm on IAPD
RAUM per advisor
$122M
derived; firm RAUM over IAPD count
Employees
10
9 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
reported on Schedule D
History
38 filings and snapshots on the tape
RAUM$489M as of Jul 1, 2026
Mar 16, 2012$1.4B then
HNW client RAUM$421M as of Jul 1, 2026
Mar 2, 2018$333M then
State-registered IARs (5.B.3)4 as of Jul 1, 2026
Mar 21, 20130 then
Employees (5.A)10 as of Jul 1, 2026
Mar 21, 201330 then
Private funds3 as of Jul 1, 2026
May 1, 20252 then
RAUM n/a over the last fiscal year+5.8% a year over three
Practice profile
derived from the filing of Jul 1, 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
- RIA with private funds · a wealth manager (private-client share at least 50 percent) that reports at least one private fund on Schedule D 7.B.(1)
- RAUM per advisor
- $122MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 58derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.9MderivedHNW RAUM over HNW clients
- Average account
- $753,722derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 1.7%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.5derivedItem 5.A over advisors
- Advisors per office
- 4.0derived1 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, performance-basedreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- a related person has custody of client securities (9.B.1.b)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$421M86%
- Individuals$40.9M8.4%
- Corporations and businesses$18.9M3.9%
- Pension and profit-sharing plans$8.5M1.7%
- Individual clients
- 124reported
- HNW clients
- 108reported
- Pension plan clients
- 1reported
- Charitable clients
- 0reported
- Accounts
- 649reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.94 fund_share=0.0 institutional_share=0.02 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
4 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Aaron Bruce Izenstark | Northbrook, Il | Oct 27, 1997 | 32 y | 0 |
| Richard Louis Lakin | Northbrook, Il | Nov 26, 2001 | 38 y | 0 |
| Timothy Robert ZiembaCertified Financial Planner, Chartered Financial Analyst | Northbrook, Il | Feb 5, 2019 | 12 y | 1 |
| Zachary Sirota | Northbrook, Il | May 9, 2025 | 12 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- Edward Connolly to Essex LLCApr 7, 2021 · RIA to RIA
- Jason Andrew Woon to Creative PlanningJan 4, 2021 · Other
- Steven James Weil to Creative PlanningJan 4, 2021 · Other
- Richard Philip Friedman to Creative PlanningJan 4, 2021 · Other
- Eric Egan Kirste to Wipfli Financial Advisors, LLCAug 10, 2016 · Other
- Mark C Dziuba to Wildermuth Advisory, LLCMar 1, 2016 · Other
- David Alan Sternberg to Vivaldi Capital Management LPDec 1, 2008 · Other
Joined, latest
- Timothy Robert Ziemba from Life Line Wealth Management LLCFeb 5, 2019 · Other
- Jason Andrew Woon from Wespac Advisors, LLCJul 28, 2015 · Other
- Mark C Dziuba from Morgan StanleyNov 19, 2014 · Other
- Eric Egan Kirste from Citigroup Global Markets Inc.May 4, 2011 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 3 left for Creative PlanningJan 4, 2021 · Northbrook, Il
Private funds
1 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Iron Private Series, LLC | Private Equity Fund | $4.3M | 12 | Jul 11, 2024 |
Owners and control persons
Schedule A and B, latest filing
- Bruce Aaron Izenstark · President, Chief Investment Officercontrolsince 01/1994 · owns less than 5%
- Lee Howard Nixon · Ceo, Secretarycontrolsince 01/2018 · owns less than 5%
- Robert Timothy Ziemba · Chief Compliance Officercontrolsince 08/2021 · owns less than 5%
- Owen Fred Goldman · Trusteecontrolsince 02/2024 · owns F of Daniel Asher Descendants Trust
- Bruce Aaron Izenstark · Cio, Presidentcontrolsince 06/2008 · owns 50% to 75% of Iron Financial Management Inc
- Lee Howard Nixon · Seccontrolsince 06/2008 · owns 50% to 75% of Iron Financial Management Inc
- Carl John Rijo · Membersince 02/2024 · owns 75% or more of Calangia LLC
- Joseph Andrew Russell · Membersince 02/2024 · owns 75% or more of Stairway Capital Advisors LLC
Entity owners
- Iron Wealth Holdings LLC · Sole Memberdirect · owns 75% or more
- Iron Financial Management Inc · Holding Companyindirect · owns 75% or more of Iron Holdings LLC
- Iron Holdings LLC · Memberindirect · owns 50% to 75% of Iron Wealth Holdings LLC
- Stairway Collaborative LLC · Memberindirect · owns 50% to 75% of Iron Wealth Holdings LLC
- Calangia LLC · Memberindirect · owns 25% to 50% of Stairway Collaborative LLC
- Daniel Asher Descendants Trust · Memberindirect · owns 25% to 50% of Stairway Collaborative LLC
- Stairway Capital Advisors LLC · Memberindirect · owns 25% to 50% of Stairway Collaborative LLC
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 |
|---|---|---|---|---|---|
| Northbrook, Il · principal | 4 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 657 to 649Oct 24, 2025 to Mar 20, 2026
- Corporate clients · 14 to 13Oct 24, 2025 to Mar 20, 2026
- HNW clients · 99 to 108Oct 24, 2025 to Mar 20, 2026
- Individual clients · 135 to 124Oct 24, 2025 to Mar 20, 2026
- Employees · 11 to 10Oct 24, 2025 to Mar 20, 2026
- Private funds · 2 to 3Oct 24, 2025 to Mar 20, 2026
- Discretionary RAUM · $464M to $489MOct 24, 2025 to Mar 20, 2026
- HNW RAUM · $381M to $421MOct 24, 2025 to Mar 20, 2026
- Individual RAUM · $48.9M to $40.9MOct 24, 2025 to Mar 20, 2026
- Non-discretionary RAUM · $8.4M to $0Oct 24, 2025 to Mar 20, 2026
- Pension RAUM · $7.6M to $8.5MOct 24, 2025 to Mar 20, 2026
- RAUM · $472M to $489MOct 24, 2025 to Mar 20, 2026
- Financial planning clients · 1-10 to 1-10May 1, 2025 to Jun 27, 2025
- Accounts · 609 to 657Jul 11, 2024 to May 1, 2025
- Advisory employees · 8 to 9Jul 11, 2024 to May 1, 2025
- Corporate clients · 12 to 14Jul 11, 2024 to May 1, 2025
- HNW clients · 95 to 99Jul 11, 2024 to May 1, 2025
- Individual clients · 148 to 135Jul 11, 2024 to May 1, 2025
- Employees · 10 to 11Jul 11, 2024 to May 1, 2025
- Financial planning clients · 0 to 1-10Jul 11, 2024 to May 1, 2025
- State-registered IARs · 3 to 4Jul 11, 2024 to May 1, 2025
- Private funds · 1 to 2Jul 11, 2024 to May 1, 2025
- Discretionary RAUM · $421M to $464MJul 11, 2024 to May 1, 2025
- HNW RAUM · $337M to $381MJul 11, 2024 to May 1, 2025
- Individual RAUM · $54.2M to $48.9MJul 11, 2024 to May 1, 2025
- Non-discretionary RAUM · $0 to $8.4MJul 11, 2024 to May 1, 2025
- Pension RAUM · $7.0M to $7.6MJul 11, 2024 to May 1, 2025
- RAUM · $421M to $472MJul 11, 2024 to May 1, 2025
- Advisory activities · 4 to 5Mar 27, 2024 to Jul 11, 2024
- Private funds · unset to 1Mar 27, 2024 to Jul 11, 2024
- Accounts · 650 to 609Sep 25, 2023 to Feb 29, 2024
- Advisory activities · 2 to 4Sep 25, 2023 to Feb 29, 2024
- Corporate clients · 11 to 12Sep 25, 2023 to Feb 29, 2024
- HNW clients · 92 to 95Sep 25, 2023 to Feb 29, 2024
- Individual clients · 180 to 148Sep 25, 2023 to Feb 29, 2024
- Financial planning clients · unset to 0Sep 25, 2023 to Feb 29, 2024
- Discretionary RAUM · $413M to $421MSep 25, 2023 to Feb 29, 2024
- HNW RAUM · $307M to $337MSep 25, 2023 to Feb 29, 2024
- Individual RAUM · $66.8M to $54.2MSep 25, 2023 to Feb 29, 2024
- Pension RAUM · $6.0M to $7.0MSep 25, 2023 to Feb 29, 2024
Signals
6 dated events
- Owen Fred Goldman (Trustee) appeared on Schedule A of Iron Financial LlcFeb 29, 2024 · Control person joined · fact
- Robert Timothy Ziemba (Chief Compliance Officer) appeared on Schedule A of Iron Financial LlcAug 4, 2021 · Control person joined · fact
- Louis Richard Lakin (Chief Compliance Officer) no longer on Schedule A of Iron Financial Llc (listed 2021-07-01, absent 2021-08-04)Aug 4, 2021 · Control person left · inference
- Iron Financial Llc reported RAUM $564.5M, down 90% from $5.4B (2020-08-11 to 2021-03-01)Mar 1, 2021 · RAUM change · derived
- Iron Financial Llc reported RAUM $5.4B, up 32% from $4.1B (2019-03-18 to 2020-02-28)Feb 28, 2020 · RAUM change · derived
- Iron Financial Llc reported RAUM $3.7B, up 32% from $2.8B (2017-09-29 to 2018-03-02)Mar 2, 2018 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
- Iron Financial LLC · Independent Sponsorsshared crd · capital_provider
- Iron Financial LLC · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Business phone
- 847-715-3200reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 847-715-3299reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/iron-financial-llcreportedpublic record, Form ADV, Sep 17, 2026
- Website
- ironfinancial.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 847-715-3200reportedpublic record, Form ADV, Jul 1, 2026
- Team page
- ironfinancial.com/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
- $122Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026