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
Westchester Capital Management Inc
Latest filing Sep 23, 2025
First filing on the tape Mar 30, 2012 · 31 filings
SEC status approved since Dec 19, 1986
RAUM
$556M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
90%
$502M individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$185M
derived; firm RAUM over IAPD count
Employees
7
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
31 filings and snapshots on the tape
RAUM$556M as of Sep 23, 2025
Sep 28, 2012$226M then
HNW client RAUM$437M as of Sep 23, 2025
Sep 28, 2018$212M then
State-registered IARs (5.B.3)3 as of Sep 23, 2025
Sep 28, 20120 then
Employees (5.A)7 as of Sep 23, 2025
Sep 25, 20138 then
Private funds: no history
RAUM +23% over the last fiscal year+8.8% a year over threeIARs 3 to 3
Practice profile
derived from the filing of Sep 23, 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
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
- RAUM per advisor
- $185MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 148derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.2MderivedHNW RAUM over HNW clients
- Average account
- $846,732derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 4.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.3derivedItem 5.A over advisors
- Advisors per office
- 3.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +11%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -0.7%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
- Custody
- $9.3M, 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)
- 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$437M79%
- Individuals$65.0M12%
- Corporations and businesses$30.3M5.4%
- Pension and profit-sharing plans$23.9M4.3%
- Charitable organizations$267,3110.0%
- Individual clients
- 247reported
- HNW clients
- 198reported
- Pension plan clients
- 9reported
- Charitable clients
- n/areported
- Accounts
- 657reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $9.3M for 1 clientsreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.9 fund_share=0.0 institutional_share=0.04 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Cindy Lou Christensen | Omaha, Ne | Feb 2, 1995 | 31 y | 0 |
| Donna Charlotte Erickson-Nelson | Omaha, Ne | Feb 5, 1998 | 28 y | 0 |
| Maximilian Wilhelm VogtChartered Financial Analyst | Omaha, Ne | Dec 20, 2016 | 10 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
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Lou Cindy Christensen · President And Chief Executive Officercontrolsince 02/2016 · owns 75% or more
- Charlotte Donna Erickson-Nelson · Chief Compliance Officer, Executive Vice President And Chief Operating Officercontrolsince 09/2019 · owns less than 5%
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 |
|---|---|---|---|---|---|
| Omaha, Ne · principal | 3 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 641 to 657Sep 27, 2024 to Sep 23, 2025
- Corporate clients · 14 to 13Sep 27, 2024 to Sep 23, 2025
- HNW clients · 184 to 198Sep 27, 2024 to Sep 23, 2025
- Individual clients · 261 to 247Sep 27, 2024 to Sep 23, 2025
- Assets in custody · $7.9M to $9.3MSep 27, 2024 to Sep 23, 2025
- Employees · 9 to 7Sep 27, 2024 to Sep 23, 2025
- Financial planning clients · unset to Sep 27, 2024 to Sep 23, 2025
- Discretionary RAUM · $503M to $556MSep 27, 2024 to Sep 23, 2025
- HNW RAUM · $386M to $437MSep 27, 2024 to Sep 23, 2025
- Individual RAUM · $65.8M to $65.0MSep 27, 2024 to Sep 23, 2025
- Pension RAUM · $20.5M to $23.9MSep 27, 2024 to Sep 23, 2025
- RAUM · $503M to $556MSep 27, 2024 to Sep 23, 2025
- Accounts · 612 to 641Feb 9, 2024 to Sep 27, 2024
- HNW clients · 163 to 184Feb 9, 2024 to Sep 27, 2024
- Individual clients · 285 to 261Feb 9, 2024 to Sep 27, 2024
- Pension plan clients · 10 to 9Feb 9, 2024 to Sep 27, 2024
- Assets in custody · $6.7M to $7.9MFeb 9, 2024 to Sep 27, 2024
- Employees · 8 to 9Feb 9, 2024 to Sep 27, 2024
- Discretionary RAUM · $452M to $503MFeb 9, 2024 to Sep 27, 2024
- HNW RAUM · $327M to $386MFeb 9, 2024 to Sep 27, 2024
- Individual RAUM · $68.0M to $65.8MFeb 9, 2024 to Sep 27, 2024
- Pension RAUM · $30.1M to $20.5MFeb 9, 2024 to Sep 27, 2024
- RAUM · $452M to $503MFeb 9, 2024 to Sep 27, 2024
- Accounts · 585 to 612Jan 9, 2023 to Sep 21, 2023
- Corporate clients · 13 to 14Jan 9, 2023 to Sep 21, 2023
- HNW clients · 167 to 163Jan 9, 2023 to Sep 21, 2023
- Individual clients · 269 to 285Jan 9, 2023 to Sep 21, 2023
- Assets in custody · $6.0M to $6.7MJan 9, 2023 to Sep 21, 2023
- Discretionary RAUM · $427M to $452MJan 9, 2023 to Sep 21, 2023
- HNW RAUM · $301M to $327MJan 9, 2023 to Sep 21, 2023
- Individual RAUM · $64.1M to $68.0MJan 9, 2023 to Sep 21, 2023
- Pension RAUM · $37.7M to $30.1MJan 9, 2023 to Sep 21, 2023
- RAUM · $427M to $452MJan 9, 2023 to Sep 21, 2023
- Accounts · 548 to 585Dec 6, 2021 to Sep 22, 2022
- HNW clients · 162 to 167Dec 6, 2021 to Sep 22, 2022
- Individual clients · 254 to 269Dec 6, 2021 to Sep 22, 2022
- Pension plan clients · 11 to 10Dec 6, 2021 to Sep 22, 2022
- Assets in custody · $5.7M to $6.0MDec 6, 2021 to Sep 22, 2022
- Discretionary RAUM · $432M to $427MDec 6, 2021 to Sep 22, 2022
- HNW RAUM · $307M to $301MDec 6, 2021 to Sep 22, 2022
Signals
1 dated events
- Charlotte Donna Erickson-Nelson (Chief Compliance Officer, Executive Vice President And Chief Operating Officer) appeared on Schedule A of Westchester Capital Management IncSep 27, 2019 · 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.
How to reach
public business contact points only, each with its source
- Business phone
- 402-392-2166reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 402-392-2418reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- WESTCHESTERCAPITAL.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 402-392-2418reportedpublic record, Form ADV, Sep 23, 2025
- Contact form
- westchestercapital.com/contact-us.htmlreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- westchestercapital.com/management-fees-and-custody.htmlreportedpublished by the firm, firm site, Sep 15, 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
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $185Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026