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.
The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.
Latest filing Jul 16, 2026
First filing on the tape Mar 13, 2012 · 30 filings
SEC status approved since Dec 10, 1981
RAUM
$474M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
11%
$51.4M individuals and HNW
Advisors
5
registered through the firm on IAPD
RAUM per advisor
$94.7M
derived; firm RAUM over IAPD count
Employees
9
4 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
2
reported on Schedule D
History
30 filings and snapshots on the tape
RAUM$474M as of Jul 16, 2026
Mar 13, 2012$308M then
HNW client RAUM$51.4M as of Jul 16, 2026
Mar 29, 2018$399M then
State-registered IARs (5.B.3)6 as of Jul 16, 2026
Mar 13, 20120 then
Employees (5.A)9 as of Jul 16, 2026
Mar 22, 20137 then
Private funds2 as of Jul 16, 2026
Mar 13, 20122 then
RAUM -22% over the last fiscal year-15% a year over threeIARs 5 to 6
Practice profile
derived from the filing of Jul 16, 2026; every figure names its basis
- RAUM per advisor
- $94.7MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 3derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.0MderivedHNW RAUM over HNW clients
- Average account
- $15.3MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 21%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.8derivedItem 5.A over advisors
- Advisors per office
- 2.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- -22%derivedbetween the last two annual amendments
- Advisor growth, one year
- +20%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -71%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
- $46.3M, 1 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)
- a related person has custody of client cash (9.B.1.a)
- 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
- Investment companies$169M36%
- Pooled investment vehicles$153M32%
- Charitable organizations$73.2M15%
- High-net-worth individuals$51.4M11%
- State and municipal entities$23.5M5.0%
- Pension and profit-sharing plans$4.4M0.9%
- Individual clients
- 0reported
- HNW clients
- 17reported
- Pension plan clients
- 1reported
- Charitable clients
- 7reported
- Accounts
- 31reported
- Financial planning clients
- 0reported
- Wrap fee programs
- $0 sponsored, $23.5M managedreported
- Custody of client assets
- $46.3M for 1 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.11 fund_share=0.68 institutional_share=0.21 related_bd=false related_bank=true bd_reps=0.0derived
Advisors registered through the firm
5 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| C••••••••• D••• T•••• | Denver, Co | Mar 11, 1996 | 31 y | 0 |
| P•••• J•••• L••••Chartered Financial Analyst | Denver, Co | Sep 12, 2001 | 32 y | 0 |
| G•••••• L•••• B•••••••••Chartered Financial Analyst | Denver, Co | Sep 17, 2019 | 11 y | 0 |
| B••••• C•••••• M•••••• | Denver, Co | Apr 15, 2025 | 10 y | 0 |
| B•••• J••••••• M••••Chartered Financial Analyst | Denver, Co | Nov 14, 2025 | 16 y | 1 |
Advisor movement
1 left, 1 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 20% of current headcount2 left over 36 months
Left, latest
- J•••• M•••••• S•••••• to J••• M••••• S••••••••• L••Jun 8, 2026 · Other
- J••• M••••••• G••••• to J••• M••••• S••••••••• L••Apr 17, 2024 · RIA to wirehouse
Joined, latest
- B•••• J••••••• M•••• from Q•••••• C•••••• M•••••••••Nov 14, 2025 · Other
Private funds
4 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| T•••• C•••••• P••••••• I•• L•no longer reported | Other Private Fund | $106M | 30 | Mar 13, 2012 |
| T•••• C•••••• P•••••••• L• | Other Private Fund | $74.5M | 61 | Mar 13, 2012 |
| T•••• E•••••••• M••••• F•••• L• | Hedge Fund | $59.1M | 38 | Mar 31, 2022 |
| T•••• I••••••••• P•••••••• L•no longer reported | Hedge Fund | $382,462 | 2 | Mar 27, 2019 |
Owners and control persons
Schedule A and B, latest filing
- S••••••• J••••• M•••••• · Head Of Private Funds; Secretarycontrolsince 10/2021 · owns less than 5%
- T••••• C••••••••• D••• · Chief Executive Officer; Director; Trustee Of T•• W•••• T••••controlsince 07/2009 · owns 25% to 50%
- T••••• C••••••••• D••• · Sole Owner Of W••••••• LLCcontrolsince 01/2022 · owns 75% or more of W•••••••• L••
- B••••••••• G••••••• L•••• · Directorsince 03/2024 · owns less than 5%
- H••••••••• C•••• A•• · Chief Compliance Officersince 10/2021 · owns less than 5%
- M••••••• B•••••• C•••••• · Head Of Business Operations; Treasurersince 04/2022 · owns less than 5%
Entity owners
- T•• W•••• T•••• · Ownership Trustdirect · owns 25% to 50%
- W•••••••• L•• · Ownership Entitydirect · owns 50% to 75%
Related persons
Schedule D 7.A
- T•••• F••• M••••••••• L••pooled vehicle sponsory
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Denver, Co · principal | 5 | 1 | 1 | ||
| St Louis, Mo | 0 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- client mix shiftChange between filings · filing Mar 31, 2026private-client share of RAUM moved from 39.0% to 11.0% between the annual amendments of 2025-03-31 and 2026-03-31peers: other advisers, $100M to $500M (212)
- HNW share shiftChange between filings · filing Mar 31, 2026HNW share of RAUM moved from 39.0% to 11.0% between the annual amendments of 2025-03-31 and 2026-03-31peers: other advisers, $100M to $500M (212)
What changed
consecutive filings, newest first
- Accounts · 74 to 31May 19, 2025 to Mar 31, 2026
- Advisory employees · 5 to 4May 19, 2025 to Mar 31, 2026
- Corporate clients · 2 to 0May 19, 2025 to Mar 31, 2026
- HNW clients · 58 to 17May 19, 2025 to Mar 31, 2026
- Assets in custody · $60.8M to $46.3MMay 19, 2025 to Mar 31, 2026
- State-registered IARs · 5 to 6May 19, 2025 to Mar 31, 2026
- Discretionary RAUM · $609M to $474MMay 19, 2025 to Mar 31, 2026
- HNW RAUM · $240M to $51.4MMay 19, 2025 to Mar 31, 2026
- Pension RAUM · $4.2M to $4.4MMay 19, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $148M to $153MMay 19, 2025 to Mar 31, 2026
- RAUM · $609M to $474MMay 19, 2025 to Mar 31, 2026
- Wrap assets (manager) · $30.9M to $23.5MMay 19, 2025 to Mar 31, 2026
- Financial planning clients · 0 to 0Mar 31, 2025 to May 19, 2025
- Accounts · 82 to 74Oct 1, 2024 to Mar 31, 2025
- Charity clients · 11 to 7Oct 1, 2024 to Mar 31, 2025
- Corporate clients · 0 to 2Oct 1, 2024 to Mar 31, 2025
- HNW clients · 62 to 58Oct 1, 2024 to Mar 31, 2025
- Individual clients · 1 to 0Oct 1, 2024 to Mar 31, 2025
- Assets in custody · $74.5M to $60.8MOct 1, 2024 to Mar 31, 2025
- Employees · 10 to 9Oct 1, 2024 to Mar 31, 2025
- State-registered IARs · 6 to 5Oct 1, 2024 to Mar 31, 2025
- Other offices · 3 to 1Oct 1, 2024 to Mar 31, 2025
- Discretionary RAUM · $879M to $609MOct 1, 2024 to Mar 31, 2025
- HNW RAUM · $308M to $240MOct 1, 2024 to Mar 31, 2025
- Individual RAUM · $520,368 to $0Oct 1, 2024 to Mar 31, 2025
- Pension RAUM · $4.6M to $4.2MOct 1, 2024 to Mar 31, 2025
- Pooled vehicle RAUM · $178M to $148MOct 1, 2024 to Mar 31, 2025
- RAUM · $879M to $609MOct 1, 2024 to Mar 31, 2025
- Wrap assets (manager) · $31.9M to $30.9MOct 1, 2024 to Mar 31, 2025
- Accounts · 80 to 82Jan 10, 2024 to Mar 28, 2024
- Charity clients · 12 to 11Jan 10, 2024 to Mar 28, 2024
- HNW clients · 59 to 62Jan 10, 2024 to Mar 28, 2024
- Assets in custody · $82.9M to $74.5MJan 10, 2024 to Mar 28, 2024
- Discretionary RAUM · $773M to $879MJan 10, 2024 to Mar 28, 2024
- HNW RAUM · $248M to $308MJan 10, 2024 to Mar 28, 2024
- Individual RAUM · $416,720 to $520,368Jan 10, 2024 to Mar 28, 2024
- Pension RAUM · $3.9M to $4.6MJan 10, 2024 to Mar 28, 2024
- Pooled vehicle RAUM · $172M to $178MJan 10, 2024 to Mar 28, 2024
- RAUM · $773M to $879MJan 10, 2024 to Mar 28, 2024
- Wrap assets (manager) · $26.6M to $31.9MJan 10, 2024 to Mar 28, 2024
Signals
7 dated events
- J•••• M•••••• S•••••• left T•••• • C• for J••• M••••• S••••••••• L•• (registered 2026-08-21)Jun 8, 2026 · Advisor changed firm · fact
- T•••• • C• reported RAUM $608.7M, down 31% from $879.3M (2024-10-01 to 2025-03-31)Mar 31, 2025 · RAUM change · derived
- J••• M••••••• G••••• left T•••• • C• for J••• M••••• S••••••••• L•• (registered 2024-04-25)Apr 17, 2024 · Advisor changed firm · fact
- Wright Joseph Bradley (Chief Operating Officer And Director Of Client Relations) no longer on Schedule A of T•••• • C• (listed 2022-03-31, absent 2022-06-29)Jun 29, 2022 · Control person left · inference
- Ellwood Joseph Towle (Chairman) no longer on Schedule A of T•••• • C• (listed 2021-07-26, absent 2021-11-09)Nov 9, 2021 · Control person left · inference
- Matthew James Shields (Head Of Private Funds) appeared on Schedule A of T•••• • C•Nov 9, 2021 · Control person joined · fact
- T•••• • C• reported RAUM $1.0B, up 36% from $766.3M (2017-03-31 to 2018-03-29)Mar 29, 2018 · 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
- Firm profile
- linkedin.com/company/towle-&-co.reportedpublic record, Form ADV, Sep 18, 2026
- Website
- towleetfs.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 303-731-2494reportedpublic record, Form ADV, Jul 16, 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
- Other adviserderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $94.7Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026