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
Disciplined Growth Investors Inc
Latest filing Mar 27, 2026
First filing on the tape Mar 30, 2012 · 19 filings
SEC status approved since Dec 11, 1996
RAUM
$5.5B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
26%
$1.4B individuals and HNW
Advisors
2
registered through the firm on IAPD
RAUM per advisor
$2.7B
derived; firm RAUM over IAPD count
Employees
21
10 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
reported on Schedule D
History
19 filings and snapshots on the tape
RAUM$5.5B as of Mar 27, 2026
Mar 30, 2012$2.4B then
HNW client RAUM$1.4B as of Mar 27, 2026
Mar 30, 2018$774M then
State-registered IARs (5.B.3)0 as of Mar 27, 2026
Mar 30, 20120 then
Employees (5.A)21 as of Mar 27, 2026
Apr 1, 201317 then
Private funds3 as of Mar 27, 2026
Mar 30, 20122 then
RAUM -4.7% over the last fiscal year+10% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 27, 2026; every figure names its basis
Archetypes, each a printed rule
- Dual wealth and asset manager · private-client share 20 to 60 percent and fund or institutional share at least 30 percent
- RAUM per advisor
- $2.7BderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 51derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $13.8MderivedHNW RAUM over HNW clients
- Average account
- $38.1MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 32%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 10.5derivedItem 5.A over advisors
- Advisors per office
- 2.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- -4.7%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- +3.0%derived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, portfolio management for investment companiesreportedItem 5.G
- Wrap fee program
- participatesreportedItem 5.I
- Custody
- $866M, 3 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- 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
- Pooled investment vehicles$1.5B26%
- High-net-worth individuals$1.4B26%
- Charitable organizations$1.1B21%
- Investment companies$571M10%
- Pension and profit-sharing plans$363M6.6%
- State and municipal entities$257M4.7%
- Other investment advisers$186M3.4%
- Corporations and businesses$112M2.0%
- Individual clients
- 0reported
- HNW clients
- 102reported
- Pension plan clients
- 8reported
- Charitable clients
- 11reported
- Accounts
- 144reported
- Financial planning clients
- reported
- Wrap fee programs
- $0 sponsored, $7.5M managedreported
- Custody of client assets
- $866M for 3 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.26 fund_share=0.4 institutional_share=0.32 related_bd=false related_bank=false bd_reps=10.0derived
Advisors registered through the firm
2 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Scott David Link | Minneapolis, Mn | Apr 26, 2006 | 29 y | 0 |
| Frederick Kane Martin | Minneapolis, Mn | Apr 26, 2006 | 34 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
none on the tape
Joined, latest
none on the tape
Private funds
3 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Compass Investors LP | Hedge Fund | $644M | 90 | Mar 30, 2012 |
| Navigator Investors LP | Other Private Fund | $348M | 100 | Mar 30, 2012 |
| The Outlier Fund, L.P. | Hedge Fund | $45.8M | 23 | Mar 29, 2024 |
Owners and control persons
Schedule A and B, latest filing
- Kane Frederick Martin · Founder & Lead Portfolio Manager Officercontrolsince 05/2001 · owns 10% to 25%
- Lee Ricki Martin · Chief Executive Officercontrolsince 02/2017 · owns 10% to 25%
- Gordon Peter Rieke · Chief Compliance Officercontrolsince 10/2008 · owns less than 5%
- George Nicholas Hansen · Lead Portfolio Managersince 01/2023 · owns 5% to 10%
- Ann Sheryl Lietzke · Director Of Client Relationshipssince 01/2022 · owns 5% to 10%
- Joseph Rob Nicoski · Chief Investment Officersince 10/2022 · owns 25% to 50%
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 |
|---|---|---|---|---|---|
| Minneapolis, Mn · principal | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Mar 27, 2026RIEKE, PETER, GORDON (CHIEF COMPLIANCE OFFICER) left Schedule A between the filings of 2023-04-05 and 2026-03-27peers: independent wealth managers, $5B to $20B (289)
What changed
consecutive filings, newest first
- Accounts · 142 to 144Mar 31, 2025 to Mar 27, 2026
- BD registered reps · 9 to 10Mar 31, 2025 to Mar 27, 2026
- HNW clients · 99 to 102Mar 31, 2025 to Mar 27, 2026
- Pension plan clients · 10 to 8Mar 31, 2025 to Mar 27, 2026
- Pooled vehicle clients · 8 to 9Mar 31, 2025 to Mar 27, 2026
- Assets in custody · $487M to $866MMar 31, 2025 to Mar 27, 2026
- Employees · 22 to 21Mar 31, 2025 to Mar 27, 2026
- Discretionary RAUM · $5.8B to $5.5BMar 31, 2025 to Mar 27, 2026
- HNW RAUM · $1.5B to $1.4BMar 31, 2025 to Mar 27, 2026
- Pension RAUM · $781M to $363MMar 31, 2025 to Mar 27, 2026
- Pooled vehicle RAUM · $1.2B to $1.5BMar 31, 2025 to Mar 27, 2026
- RAUM · $5.8B to $5.5BMar 31, 2025 to Mar 27, 2026
- Accounts · 135 to 142Mar 29, 2024 to Mar 31, 2025
- Charity clients · 9 to 11Mar 29, 2024 to Mar 31, 2025
- Corporate clients · unset to 6.0Mar 29, 2024 to Mar 31, 2025
- HNW clients · 95 to 99Mar 29, 2024 to Mar 31, 2025
- Pension plan clients · 11 to 10Mar 29, 2024 to Mar 31, 2025
- Pooled vehicle clients · 9 to 8Mar 29, 2024 to Mar 31, 2025
- Employees · 21 to 22Mar 29, 2024 to Mar 31, 2025
- Financial planning clients · unset to Mar 29, 2024 to Mar 31, 2025
- Discretionary RAUM · $4.8B to $5.8BMar 29, 2024 to Mar 31, 2025
- HNW RAUM · $1.2B to $1.5BMar 29, 2024 to Mar 31, 2025
- Pension RAUM · $780M to $781MMar 29, 2024 to Mar 31, 2025
- Pooled vehicle RAUM · $1.0B to $1.2BMar 29, 2024 to Mar 31, 2025
- RAUM · $4.8B to $5.8BMar 29, 2024 to Mar 31, 2025
- Wrap assets (manager) · unset to 7463574.0Mar 29, 2024 to Mar 31, 2025
- Wrap assets (sponsor) · unset to 0.0Mar 29, 2024 to Mar 31, 2025
- Accounts · 137 to 135Apr 5, 2023 to Mar 29, 2024
- Charity clients · 8 to 9Apr 5, 2023 to Mar 29, 2024
- HNW clients · 96 to 95Apr 5, 2023 to Mar 29, 2024
- Pension plan clients · 13 to 11Apr 5, 2023 to Mar 29, 2024
- Pooled vehicle clients · 8 to 9Apr 5, 2023 to Mar 29, 2024
- Employees · 20 to 21Apr 5, 2023 to Mar 29, 2024
- Private funds · 2 to 3Apr 5, 2023 to Mar 29, 2024
- Discretionary RAUM · $4.1B to $4.8BApr 5, 2023 to Mar 29, 2024
- HNW RAUM · $875M to $1.2BApr 5, 2023 to Mar 29, 2024
- Pension RAUM · $658M to $780MApr 5, 2023 to Mar 29, 2024
- Pooled vehicle RAUM · $693M to $1.0BApr 5, 2023 to Mar 29, 2024
- RAUM · $4.1B to $4.8BApr 5, 2023 to Mar 29, 2024
- Accounts · 132 to 137Mar 31, 2022 to Apr 5, 2023
Signals
No event on the tape.
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
- 612-317-4100reportedpublished by the firm, firm site, Sep 17, 2026
- Website
- DGINV.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 612-317-4100reportedpublic record, Form ADV, Mar 27, 2026
- Contact form
- dginv.com/contact-usreportedpublished by the firm, firm site, Sep 17, 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
- Wealth manager with institutional or fund businessderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $2.7Bderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026