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.

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Former SEC-registered adviser

L••••••• W••••• M••••••••• L••

Former SEC-registered adviserBillings, MontanaCRD 110024SEC 801-110266IAPD
Latest filing Mar 25, 2022
First filing on the tape Mar 29, 2012 · 17 filings
RAUM
$265M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$265M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
3
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
17 filings and snapshots on the tape
RAUM$265M as of Mar 25, 2022
Mar 29, 2012$57.5M then
HNW client RAUM$175M as of Mar 25, 2022
Mar 28, 2018$83.1M then
State-registered IARs (5.B.3)3 as of Mar 25, 2022
Mar 29, 20120 then
Employees (5.A)3 as of Mar 25, 2022
Mar 28, 20183 then
Private funds: no history
RAUM +29% over the last fiscal year+24% a year over threeIARs 3 to 3
Practice profile
derived from the filing of Mar 25, 2022; every figure names its basis
RAUM per advisor
$88.2MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
106derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.1MderivedHNW RAUM over HNW clients
Average account
$370,585derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.0derivedItem 5.A over advisors
Advisors per office
3.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+29%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+7.4%derived
Compensation
percentage of assets, hourlyreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, educational seminarsreportedItem 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$175M66%
  • Individuals$89.3M34%
Individual clients
234reported
HNW clients
85reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
714reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, 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
Joined, latest
none on the tape
    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
      • L•••••••• D•••••• S••••• · Owner & Chief Compliance Officercontrol
        since 09/2004 · owns 75% or more
      • R•••••• M•••••••• A• · Chief Financial Officercontrol
        since 07/2016 · owns less than 5%
      • S••••••••• B•••• · Chief Operations Officercontrol
        since 07/2016 · owns 10% to 25%
      • L•••••••• D•••••• S••••• · President & Chairman Of The Boardcontrol
        since 12/2012 · owns 75% or more of B••• I••.
      Entity owners
      • B••• I•• · Sub S Corp, D••••• S. L••••••• Owns 100% Of The Shares
        direct · owns 10% to 25%
      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 · 635 to 714
        Jul 27, 2021 to Mar 25, 2022
      • HNW clients · 80 to 85
        Jul 27, 2021 to Mar 25, 2022
      • Individual clients · 217 to 234
        Jul 27, 2021 to Mar 25, 2022
      • Discretionary RAUM · $206M to $265M
        Jul 27, 2021 to Mar 25, 2022
      • HNW RAUM · $155M to $175M
        Jul 27, 2021 to Mar 25, 2022
      • Individual RAUM · $50.5M to $89.3M
        Jul 27, 2021 to Mar 25, 2022
      • RAUM · $206M to $265M
        Jul 27, 2021 to Mar 25, 2022
      • HNW clients · 60 to 80
        Mar 12, 2021 to Apr 1, 2021
      • Individual clients · 214 to 217
        Mar 12, 2021 to Apr 1, 2021
      • Discretionary RAUM · $183M to $206M
        Mar 12, 2021 to Apr 1, 2021
      • HNW RAUM · $100M to $155M
        Mar 12, 2021 to Apr 1, 2021
      • Individual RAUM · $83.1M to $50.5M
        Mar 12, 2021 to Apr 1, 2021
      • RAUM · $183M to $206M
        Mar 12, 2021 to Apr 1, 2021
      • Advisory employees · 4 to 3
        Jul 14, 2020 to Nov 10, 2020
      • Employees · 4 to 3
        Jul 14, 2020 to Nov 10, 2020
      • State-registered IARs · 4 to 3
        Jul 14, 2020 to Nov 10, 2020
      • Accounts · 568 to 635
        Apr 17, 2019 to Mar 25, 2020
      • Advisory activities · 4 to 3
        Apr 17, 2019 to Mar 25, 2020
      • HNW clients · 54 to 60
        Apr 17, 2019 to Mar 25, 2020
      • Individual clients · 203 to 214
        Apr 17, 2019 to Mar 25, 2020
      • Discretionary RAUM · $139M to $183M
        Apr 17, 2019 to Mar 25, 2020
      • HNW RAUM · $97.0M to $100M
        Apr 17, 2019 to Mar 25, 2020
      • Individual RAUM · $42.2M to $83.1M
        Apr 17, 2019 to Mar 25, 2020
      • RAUM · $139M to $183M
        Apr 17, 2019 to Mar 25, 2020
      • Accounts · 549 to 568
        Mar 28, 2018 to Mar 27, 2019
      • Advisory employees · 3 to 4
        Mar 28, 2018 to Mar 27, 2019
      • HNW clients · 45 to 54
        Mar 28, 2018 to Mar 27, 2019
      • Individual clients · 197 to 203
        Mar 28, 2018 to Mar 27, 2019
      • Employees · 3 to 4
        Mar 28, 2018 to Mar 27, 2019
      • State-registered IARs · 3 to 4
        Mar 28, 2018 to Mar 27, 2019
      • Discretionary RAUM · $139M to $139M
        Mar 28, 2018 to Mar 27, 2019
      • HNW RAUM · $83.1M to $97.0M
        Mar 28, 2018 to Mar 27, 2019
      • Individual RAUM · $56.1M to $42.2M
        Mar 28, 2018 to Mar 27, 2019
      • RAUM · $139M to $139M
        Mar 28, 2018 to Mar 27, 2019
      • Accounts · 523 to 549
        Mar 24, 2017 to Mar 28, 2018
      • HNW clients · unset to 45.0
        Mar 24, 2017 to Mar 28, 2018
      • Individual clients · unset to 197.0
        Mar 24, 2017 to Mar 28, 2018
      • Other offices · unset to 0.0
        Mar 24, 2017 to Mar 28, 2018
      • Discretionary RAUM · $121M to $139M
        Mar 24, 2017 to Mar 28, 2018
      • HNW RAUM · unset to 83100000.0
        Mar 24, 2017 to Mar 28, 2018
      Signals
      5 dated events
      • M••••••• A• R••••• left L••••••• W••••• M••••••••• L•• for D••••• W•••••• L•• (registered 2022-06-30)
        Jul 28, 2022 · Advisor changed firm · fact
      • B•••• S•••••••• left L••••••• W••••• M••••••••• L•• for D••••• W•••••• L•• (registered 2022-06-30)
        Jul 28, 2022 · Advisor changed firm · fact
      • D••••• S••••• L••••••• left L••••••• W••••• M••••••••• L•• for D••••• W•••••• L•• (registered 2022-06-30)
        Jul 28, 2022 · Advisor changed firm · fact
      • L••••••• W••••• M••••••••• L••'s advisors moved to D••••• W•••••• L•• (Billings, MT): 3 of 3 registered, on the same day
        Jul 28, 2022 · Firm absorbed (people side) · derived
      • L••••••• W••••• M••••••••• L•• filed its initial SEC registration (Form ADV)
        Mar 24, 2017 · First SEC registration · 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