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
Financial Management Network Inc
Latest filing Dec 19, 2025
First filing on the tape May 1, 2012 · 44 filings
SEC status approved since Dec 31, 1991
RAUM
$2.1B
reported, Item 5.F
Discretionary
73%
of RAUM
Private clients
71%
$1.5B individuals and HNW
Advisors
21
registered through the firm on IAPD
RAUM per advisor
$102M
derived; firm RAUM over IAPD count
Employees
50
21 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
44 filings and snapshots on the tape
RAUM$2.1B as of Dec 19, 2025
Jan 2, 2013$432M then
HNW client RAUM$1.3B as of Dec 19, 2025
Dec 20, 2017$451M then
State-registered IARs (5.B.3)21 as of Dec 19, 2025
Jan 2, 201319 then
Employees (5.A)50 as of Dec 19, 2025
Jan 2, 201319 then
Private funds: no history
RAUM +45% over the last fiscal year+12% a year over threeIARs 18 to 21offices 1 to 2
Practice profile
derived from the filing of Dec 19, 2025; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
- RAUM per advisor
- $102MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 66derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.7MderivedHNW RAUM over HNW clients
- Average account
- $479,135derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 73%derivedof RAUM
- Institutional
- 29%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.4derivedItem 5.A over advisors
- Advisors per office
- 7.0derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +22%derivedbetween the last two annual amendments
- Advisor growth, one year
- +11%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -0.2%derived
- Compensation
- percentage of assets, hourly, fixed fees, otherreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consultingreportedItem 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
- is an insurance broker or agent (6.A.6)
- 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)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$1.3B59%
- Pension and profit-sharing plans$598M28%
- Individuals$261M12%
- Insurance companies$14.9M0.7%
- Corporations and businesses$6.2M0.3%
- Individual clients
- 919reported
- HNW clients
- 460reported
- Pension plan clients
- 131reported
- Charitable clients
- 0reported
- Accounts
- 4,474reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.71 fund_share=0.0 institutional_share=0.29 related_bd=true related_bank=false bd_reps=21.0derived
Advisors registered through the firm
21 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Matthew Scott MerwinCertified Financial Planner | Orlando, Fl | Feb 2, 1992 | 36 y | 0 |
| Curtis Steven FarrellCertified Financial Planner | Mission Viejo, Ca | Jul 8, 1997 | 41 y | 0 |
| Mark Forrest DonahueCertified Financial Planner, Chartered Financial Consultant | Mission Viejo, Ca | Dec 15, 1997 | 32 y | 0 |
| Lisa Lynn Banning | Mission Viejo, Ca | Oct 29, 2004 | 27 y | 0 |
| Richard James RangCertified Financial Planner | Mission Viejo, Ca | Oct 29, 2004 | 31 y | 0 |
| Kevin Lee Darger | Mission Viejo, Ca | Apr 25, 2006 | 31 y | 0 |
| Tracy Reinhold Olson | Mission Viejo, Ca | Dec 7, 2007 | 36 y | 0 |
| Matthew Scott ConnerCertified Financial Planner | Mission Viejo, Ca | Oct 16, 2008 | 30 y | 2 |
| Joseph Anthony Cavallo | Mission Viejo, Ca | May 20, 2009 | 19 y | 0 |
| Jeffrey Macdonald Holt | Mission Viejo, Ca | Nov 19, 2009 | 41 y | 1 |
| Steve James Friedman | Mission Viejo, Ca | Jul 26, 2011 | 33 y | 1 |
| Jeffrey George Merwin | Mission Viejo, Ca | Nov 6, 2013 | 17 y | 0 |
| Matthew Michael MerwinCertified Financial Planner | Mission Viejo, Ca | Nov 1, 2016 | 15 y | 0 |
| Aran Garis Sahagun | Mission Viejo, Ca | Apr 25, 2017 | 23 y | 3 |
| John Michael Randall | Cedar Park, Tx | Jul 18, 2019 | 30 y | 4 |
| Matthew Aaron JordanCertified Financial Planner | Mission Viejo, Ca | Sep 28, 2020 | 11 y | 0 |
| Nicholas Joseph Cavallo | Mission Viejo, Ca | Nov 20, 2020 | 16 y | 0 |
| Joshua David ValdiviaCertified Financial Planner | Mission Viejo, Ca | Jul 20, 2021 | 12 y | 0 |
| Jeffrey David Stanga | Mission Viejo, Ca | May 16, 2022 | 20 y | 1 |
| John J Merwin | Mission Viejo, Ca | Nov 27, 2023 | 10 y | 0 |
| Brandon Charles Decapite | Mission Viejo, Ca | Jan 22, 2025 | 18 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 headcount1 left over 36 months
Left, latest
- Gary Arnold Tickel to Futu Wealth Advisors, Inc.Jun 17, 2024 · Other
- Timothy James Merwin to Voya Financial Advisors, Inc.Oct 21, 2022 · RIA to affiliated broker-dealer or bank
- Robert Pagliarini to Beacon Pointe Advisors, LLCFeb 7, 2018 · RIA to RIA
- Ryan Matthew Maroney to Anchor CapitalFeb 1, 2017 · Other
- Bart Adrian Zandbergen to Optivest, Inc.Dec 8, 2016 · Other
- Rory Jacob Dale Hart to Level Four Advisory ServicesDec 8, 2016 · Other
- John Joseph Link to Level Four Advisory ServicesDec 8, 2016 · Other
Joined, latest
- John Michael Randall from StashJul 18, 2019 · Other
- Aran Garis Sahagun from LPL Financial LLCApr 25, 2017 · Other
- Rory Jacob Dale Hart from United Capital Financial AdvisorsNov 25, 2014 · Other
- John Joseph Link from Pence Wealth Management, Inc.Nov 25, 2014 · Other
- Steve James Friedman from Securian Financial Services, Inc.Jul 26, 2011 · Other
- Jeffrey Macdonald Holt from Citigroup Global Markets Inc.Nov 19, 2009 · Other
- Robert Pagliarini from Pacifica Wealth Advisors, Inc.Aug 4, 2009 · Other
- Matthew Scott Conner from Applied Financial Planning, Inc.Oct 16, 2008 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 left for Level Four Advisory ServicesDec 8, 2016 · Mission Viejo, Ca
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- George Jeffrey Merwin · Managing Partner/Ttee"/Chief Compliance Officercontrolsince 12/2021 · owns less than 5%
- Michael Matthew Merwin · Managing Partner/Trusteecontrolsince 12/2021 · owns less than 5%
- J John Merwin · Trusteesince 12/2021 · owns less than 5%
- Scott Matthew Merwin · Managing Partner / Advisory Board Membersince 12/2021 · owns less than 5%
- Jane Kathy Merwin · Trusteesince 04/2001 · owns 50% to 75% of Merwin Family Trust Dated April 5, 2001
Entity owners
- Jeffrey G Merwin Irrevocable Trust, · Trustdirect · owns 25% to 50%
- Jeffrey G Merwin Irrevocable Trust, Dated December 29, 2021 · Trustdirect · owns 25% to 50%
- John J Merwin Irrevocable Trust, Dated December 28, 2021 · Trustdirect · owns less than 5%
- Matthew M. Merwin Irrevocable Trust · Trustdirect · owns 25% to 50%
- Matthew M. Merwin Irrevocable Trust Dated December 28, 2021 · Trustdirect · owns 25% to 50%
- Merwin Family Trust Dated April 5, 2001 · Trustdirect · owns 10% to 25%
- Fmn Esop Utd 09/22/2006 · Trust Compliance Officerdirect · owns 10% to 25%
Related persons
Schedule D 7.A
- Fmn Capital Corporationbroker-dealerreal estaten
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Mission Viejo, Ca · principal | 19 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Dec 19, 2025MERWIN, JEFFREY, GEORGE (MANAGING PARTNER/TTEE"/CHIEF COMPLIANCE OFFICER) left Schedule A between the filings of 2022-01-09 and 2025-12-19peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Accounts · 4,200 to 4,474Apr 21, 2025 to Dec 19, 2025
- Corporate clients · 23 to 11Apr 21, 2025 to Dec 19, 2025
- HNW clients · 398 to 460Apr 21, 2025 to Dec 19, 2025
- Individual clients · 756 to 919Apr 21, 2025 to Dec 19, 2025
- Pension plan clients · 151 to 131Apr 21, 2025 to Dec 19, 2025
- Employees · 49 to 50Apr 21, 2025 to Dec 19, 2025
- State-registered IARs · 20 to 21Apr 21, 2025 to Dec 19, 2025
- Other offices · 1 to 2Apr 21, 2025 to Dec 19, 2025
- Discretionary RAUM · $1.4B to $1.6BApr 21, 2025 to Dec 19, 2025
- HNW RAUM · $1.0B to $1.3BApr 21, 2025 to Dec 19, 2025
- Individual RAUM · $307M to $261MApr 21, 2025 to Dec 19, 2025
- Non-discretionary RAUM · $402M to $584MApr 21, 2025 to Dec 19, 2025
- Pension RAUM · $432M to $598MApr 21, 2025 to Dec 19, 2025
- RAUM · $1.8B to $2.1BApr 21, 2025 to Dec 19, 2025
- Financial planning clients · 51-100 to 51-100Dec 18, 2024 to Apr 21, 2025
- Accounts · 4,072 to 4,200Mar 26, 2024 to Dec 18, 2024
- Corporate clients · 13 to 23Mar 26, 2024 to Dec 18, 2024
- HNW clients · 340 to 398Mar 26, 2024 to Dec 18, 2024
- Individual clients · 816 to 756Mar 26, 2024 to Dec 18, 2024
- Pension plan clients · 136 to 151Mar 26, 2024 to Dec 18, 2024
- Employees · 48 to 49Mar 26, 2024 to Dec 18, 2024
- Financial planning clients · 26-50 to 51-100Mar 26, 2024 to Dec 18, 2024
- State-registered IARs · 18 to 20Mar 26, 2024 to Dec 18, 2024
- Discretionary RAUM · $1.1B to $1.4BMar 26, 2024 to Dec 18, 2024
- HNW RAUM · $791M to $1.0BMar 26, 2024 to Dec 18, 2024
- Individual RAUM · $292M to $307MMar 26, 2024 to Dec 18, 2024
- Non-discretionary RAUM · $347M to $402MMar 26, 2024 to Dec 18, 2024
- Pension RAUM · $375M to $432MMar 26, 2024 to Dec 18, 2024
- RAUM · $1.5B to $1.8BMar 26, 2024 to Dec 18, 2024
- Accounts · 4,275 to 4,072Oct 23, 2023 to Dec 22, 2023
- Corporate clients · 11 to 13Oct 23, 2023 to Dec 22, 2023
- HNW clients · 291 to 340Oct 23, 2023 to Dec 22, 2023
- Individual clients · 892 to 816Oct 23, 2023 to Dec 22, 2023
- Pension plan clients · 144 to 136Oct 23, 2023 to Dec 22, 2023
- Employees · 47 to 48Oct 23, 2023 to Dec 22, 2023
- Financial planning clients · 51-100 to 26-50Oct 23, 2023 to Dec 22, 2023
- Discretionary RAUM · $987M to $1.1BOct 23, 2023 to Dec 22, 2023
- HNW RAUM · $666M to $791MOct 23, 2023 to Dec 22, 2023
- Individual RAUM · $316M to $292MOct 23, 2023 to Dec 22, 2023
- Non-discretionary RAUM · $340M to $347MOct 23, 2023 to Dec 22, 2023
Signals
5 dated events
- Gary Arnold Tickel left Financial Management Network Inc for Futu Wealth Advisors, Inc. (registered 2022-10-04)Jun 17, 2024 · Advisor changed firm · fact
- Timothy James Merwin left Financial Management Network Inc for Voya Financial Advisors, Inc. (registered 2022-12-08)Oct 21, 2022 · Advisor changed firm · fact
- Michael Matthew Merwin (Managing Partner/Trustee) appeared on Schedule A of Financial Management Network IncJan 9, 2022 · Control person joined · fact
- Financial Management Network Inc reported RAUM $1.5B, up 26% from $1.2B (2021-01-04 to 2021-12-23)Dec 23, 2021 · RAUM change · derived
- Financial Management Network Inc reported RAUM $986.5M, up 42% from $695.8M (2019-05-12 to 2019-12-24)Dec 24, 2019 · 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.
How to reach
public business contact points only, each with its source
- Business phone
- 949-455-0300reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 949-716-7413reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- piplan.orgreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 949-455-0300reportedpublic record, Form ADV, Dec 19, 2025
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
- $102Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026