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

Pinnacle Advisory Group, Inc.

Former SEC-registered adviserColumbia, MarylandCRD 107757SEC 801-43156IAPD
Latest filing Mar 9, 2021
First filing on the tape Mar 26, 2012 · 32 filings
RAUM
$2.3B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
77%
$1.8B individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
45
23 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
32 filings and snapshots on the tape
RAUM$2.3B as of Mar 9, 2021
Mar 26, 2012$897M then
HNW client RAUM$1.5B as of Mar 9, 2021
Mar 28, 2018$302M then
State-registered IARs (5.B.3)19 as of Mar 9, 2021
Feb 12, 201314 then
Employees (5.A)45 as of Mar 9, 2021
Feb 12, 201330 then
Private funds: no history
RAUM +8.5% over the last fiscal year+4.2% a year over threeIARs 20 to 19offices 2 to 1
Practice profile
derived from the filing of Mar 9, 2021; every figure names its basis
RAUM per advisor
$122MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
61derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.7MderivedHNW RAUM over HNW clients
Average account
$403,691derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
2.4derivedItem 5.A over advisors
Advisors per office
9.5derived2 offices incl. principal (1.F.5)
RAUM growth, one year
+8.5%derivedbetween the last two annual amendments
Advisor growth, one year
-5.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+1.2%derived
Compensation
percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisers, publications, educational seminarsreportedItem 5.G
Financial planning clients
1,200reportedItem 5.H
Wrap fee program
participatesreportedItem 5.I
Custody
$555M, 579 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
  • High-net-worth individuals$1.5B64%
  • Other investment advisers$515M22%
  • Individuals$289M12%
  • Pension and profit-sharing plans$13.1M0.6%
  • Corporations and businesses$6.0M0.3%
  • Charitable organizations$5.4M0.2%
Individual clients
612reported
HNW clients
554reported
Pension plan clients
7reported
Charitable clients
n/areported
Accounts
5,742reported
Financial planning clients
1,200reported
Wrap fee programs
$0 sponsored, $23.6M managedreported
Custody of client assets
$555M for 579 clientsreported
Compensation
% of AUM, fixed, hourlyreported
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
  • Patrick Sean Dillon · Chief Investment Strategistcontrol
    since 09/2020 · owns less than 5%
  • Robert John Hill · Chief Executive Officercontrol
    since 07/2004 · owns 25% to 50%
  • Brad David Kauffman · Partner / Executivecontrol
    since 05/2016 · owns less than 5%
  • Cloud Debra Kriebel · Partner / Executivecontrol
    since 07/2004 · owns less than 5%
  • Akeroyd Joshua Mason · Partner / Executivecontrol
    since 01/2013 · owns less than 5%
  • Andrew Dwight Mikulis · Managing Partnercontrol
    since 07/2004 · owns 25% to 50%
  • Wesley Carl Noble · Chief Investment Officercontrol
    since 09/2020 · owns less than 5%
  • Reid Kenneth Solow · Chairman Of The Investment Committeecontrol
    since 07/2004 · owns 25% to 50%
  • Keith Jeffrey Troll · Partner / Executivecontrol
    since 05/2016 · owns less than 5%
  • Marie Erin Wendell · Chief Compliance Officer, Chief Financial Officercontrol
    since 01/2017 · owns less than 5%
  • Ernest Michael Kitces · Partner
    since 01/2012 · owns less than 5%
  • Donald Richard Vollaro · Partner
    since 01/2008 · owns less than 5%
Related persons
Schedule D 7.A
No related person reported.
Offices
Schedule D 1.F, the 25 largest
  • Miami, FL4 employees
What changed
consecutive filings, newest first
  • Accounts · 5,840 to 5,742
    Nov 14, 2020 to Mar 9, 2021
  • Advisory employees · 24 to 23
    Nov 14, 2020 to Mar 9, 2021
  • Corporate clients · 15 to 8
    Nov 14, 2020 to Mar 9, 2021
  • HNW clients · 517 to 554
    Nov 14, 2020 to Mar 9, 2021
  • Individual clients · 635 to 612
    Nov 14, 2020 to Mar 9, 2021
  • Pension plan clients · 8 to 7
    Nov 14, 2020 to Mar 9, 2021
  • Assets in custody · $505M to $555M
    Nov 14, 2020 to Mar 9, 2021
  • Employees · 48 to 45
    Nov 14, 2020 to Mar 9, 2021
  • State-registered IARs · 20 to 19
    Nov 14, 2020 to Mar 9, 2021
  • Discretionary RAUM · $2.1B to $2.3B
    Nov 14, 2020 to Mar 9, 2021
  • HNW RAUM · $1.4B to $1.5B
    Nov 14, 2020 to Mar 9, 2021
  • Individual RAUM · $298M to $289M
    Nov 14, 2020 to Mar 9, 2021
  • Pension RAUM · $16.5M to $13.1M
    Nov 14, 2020 to Mar 9, 2021
  • RAUM · $2.1B to $2.3B
    Nov 14, 2020 to Mar 9, 2021
  • Wrap assets (manager) · $22.5M to $23.6M
    Nov 14, 2020 to Mar 9, 2021
  • Other offices · 2 to 1
    Jun 24, 2020 to Jul 21, 2020
  • Accounts · 5,994 to 5,840
    Jan 13, 2020 to Mar 18, 2020
  • Advisory employees · 28 to 24
    Jan 13, 2020 to Mar 18, 2020
  • Advisory activities · 6 to 7
    Jan 13, 2020 to Mar 18, 2020
  • Corporate clients · 13 to 15
    Jan 13, 2020 to Mar 18, 2020
  • HNW clients · 489 to 517
    Jan 13, 2020 to Mar 18, 2020
  • Individual clients · 696 to 635
    Jan 13, 2020 to Mar 18, 2020
  • Pension plan clients · 15 to 8
    Jan 13, 2020 to Mar 18, 2020
  • Assets in custody · $491M to $505M
    Jan 13, 2020 to Mar 18, 2020
  • Employees · 50 to 48
    Jan 13, 2020 to Mar 18, 2020
  • Discretionary RAUM · $2.0B to $2.1B
    Jan 13, 2020 to Mar 18, 2020
  • HNW RAUM · $1.2B to $1.4B
    Jan 13, 2020 to Mar 18, 2020
  • Individual RAUM · $305M to $298M
    Jan 13, 2020 to Mar 18, 2020
  • Pension RAUM · $18.6M to $16.5M
    Jan 13, 2020 to Mar 18, 2020
  • RAUM · $2.0B to $2.1B
    Jan 13, 2020 to Mar 18, 2020
  • Wrap assets (manager) · $22.6M to $22.5M
    Jan 13, 2020 to Mar 18, 2020
  • Advisory activities · 5 to 6
    Nov 21, 2019 to Jan 10, 2020
  • Other offices · 3 to 2
    Nov 21, 2019 to Jan 10, 2020
  • Accounts · 5,848 to 5,994
    Jan 22, 2019 to Mar 18, 2019
  • HNW clients · 724 to 489
    Jan 22, 2019 to Mar 18, 2019
  • Individual clients · 525 to 696
    Jan 22, 2019 to Mar 18, 2019
  • Assets in custody · $472M to $491M
    Jan 22, 2019 to Mar 18, 2019
  • Employees · 54 to 50
    Jan 22, 2019 to Mar 18, 2019
  • State-registered IARs · 19 to 20
    Jan 22, 2019 to Mar 18, 2019
  • Other offices · 2 to 3
    Jan 22, 2019 to Mar 18, 2019
Signals
2 dated events
  • Wesley Carl Noble (Chief Investment Officer) appeared on Schedule A of Pinnacle Advisory Group, Inc.
    Oct 1, 2020 · Control person joined · fact
  • Patrick Sean Dillon (Chief Investment Strategist) appeared on Schedule A of Pinnacle Advisory Group, Inc.
    Oct 1, 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.
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