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
Boulay Wealth
Legal name Boulay Financial Advisors, LLC
Latest filing Aug 19, 2026
First filing on the tape Feb 15, 2012 · 43 filings
SEC status approved since Apr 17, 2001
RAUM
$3.0B
reported, Item 5.F
Discretionary
97%
of RAUM
Private clients
97%
$2.9B individuals and HNW
Advisors
33
registered through the firm on IAPD
RAUM per advisor
$91.2M
derived; firm RAUM over IAPD count
Employees
45
31 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
43 filings and snapshots on the tape
RAUM$3.0B as of Aug 19, 2026
Aug 30, 2012$227M then
HNW client RAUM$2.7B as of Aug 19, 2026
Aug 30, 2018$513M then
State-registered IARs (5.B.3)33 as of Aug 19, 2026
Aug 19, 20139 then
Employees (5.A)45 as of Aug 19, 2026
Aug 19, 201311 then
Private funds: no history
RAUM +61% over the last fiscal year+14% a year over threeIARs 17 to 33offices 1 to 0
Practice profile
derived from the filing of Aug 19, 2026; every figure names its basis
- RAUM per advisor
- $91.2MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 33derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $4.3MderivedHNW RAUM over HNW clients
- Average account
- $686,388derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 97%derivedof RAUM
- Institutional
- 2.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.4derivedItem 5.A over advisors
- Advisors per office
- 33.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +14%derivedbetween the last two annual amendments
- Advisor growth, one year
- +47%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -6.0%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, educational seminars, otherreportedItem 5.G
- Custody
- $1.8B, 2,732 clientsreportedItem 9.A
- Ownership
- controlled by a public reporting companyderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- is an insurance broker or agent (6.A.6)
- 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)
- controlled by a public reporting company (10.A)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$2.7B90%
- Individuals$209M6.9%
- Pension and profit-sharing plans$54.9M1.8%
- Charitable organizations$15.8M0.5%
- Corporations and businesses$12.4M0.4%
- Individual clients
- 466reported
- HNW clients
- 630reported
- Pension plan clients
- 14reported
- Charitable clients
- n/areported
- Accounts
- 4,384reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- $1.8B for 2,732 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.97 fund_share=0.0 institutional_share=0.02 related_bd=false related_bank=false bd_reps=3.0derived
Advisors registered through the firm
31 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| David Edgar BremerCertified Financial Planner | Minneapolis, Mn | Nov 17, 2004 | 45 y | 0 |
| Nathan Daniel FaithCertified Financial Planner | Eden Prairie, Mn | Jan 20, 2014 | 16 y | 0 |
| Chad Michael Carlson | Eden Prairie, Mn | Jan 23, 2014 | 26 y | 0 |
| Patrick Kelly Schneeman | Eden Prairie, Mn | Nov 3, 2014 | 12 y | 1 |
| Jon James MelanderCertified Financial Planner | Eden Prairie, Mn | Mar 4, 2015 | 29 y | 4 |
| Ellen R HoranCertified Financial Planner | Eden Prairie, Mn | Nov 15, 2016 | 14 y | 0 |
| Jay Robert BrownCertified Financial Planner, Chartered Financial Consultant | Eden Prairie, Mn | Apr 19, 2017 | 25 y | 2 |
| Michael Joseph Johnson | Eden Prairie, Mn | Dec 16, 2019 | 11 y | 0 |
| Scott Eric NelsonCertified Financial Planner, Chartered Financial Analyst | Eden Prairie, Mn | Jan 3, 2020 | 12 y | 2 |
| Rachel Marie RiceCertified Financial Planner | Eden Prairie, Mn | Jan 8, 2021 | 10 y | 0 |
| Matthew Heilmer | Eden Prairie, Mn | Jun 2, 2021 | 24 y | 2 |
| Chase Michael Siegfried | Eden Prairie, Mn | Aug 18, 2022 | 10 y | 0 |
| Matthew Ryan DelaneyCertified Financial Planner | Eden Prairie, Mn | Jun 6, 2023 | 12 y | 1 |
| Abigail Marie EvensonCertified Financial Planner | Eden Prairie, Mn | Aug 21, 2023 | 13 y | 0 |
| Catherine Ann Hogan | Eden Prairie, Mn | Aug 22, 2023 | 32 y | 0 |
| Zachariah Robert Haire | Eden Prairie, Mn | Aug 24, 2023 | 13 y | 0 |
| Mary Kathryn Bauman | Eden Prairie, Mn | May 24, 2024 | 11 y | 0 |
| Rose Abigail CumminsCertified Financial Planner | Eden Prairie, Mn | Jul 12, 2024 | 13 y | 0 |
| Anika Sarah LundeCertified Financial Planner | Eden Prairie, Mn | Oct 8, 2024 | 11 y | 0 |
| Aidan L ChaconCertified Financial Planner | Eden Prairie, Mn | Nov 1, 2024 | 11 y | 0 |
| Thomas Russell PargettCertified Financial Planner | Eden Prairie, Mn | Mar 21, 2025 | 13 y | 7 |
| Christopher ClaussenCertified Financial Planner | Eden Prairie, Mn | Apr 15, 2025 | 14 y | 0 |
| Timothy James Rockford | Eden Prairie, Mn | May 13, 2025 | 10 y | 0 |
| Laura Ann StenzelCertified Financial Planner | Eden Prairie, Mn | May 16, 2025 | 12 y | 0 |
| Gerson Jesus Diaz | Eden Prairie, Mn | Jul 14, 2025 | 11 y | 0 |
| Calli Rose Glass | Eden Prairie, Mn | Nov 20, 2025 | 12 y | 0 |
| William Gregory Schleicher | Eden Prairie, Mn | Feb 12, 2026 | 10 y | 0 |
| Jeremy Joseph Mcdaniel | Eden Prairie, Mn | Mar 4, 2026 | 10 y | 0 |
| Blake Brian FaustCertified Financial Planner | Eden Prairie, Mn | May 4, 2026 | 13 y | 2 |
| Ava Renae Nelson | Eden Prairie, Mn | May 20, 2026 | 11 y | 0 |
| Christina Elise UlsbyCertified Financial Planner | Eden Prairie, Mn | Sep 8, 2026 | 10 y | 0 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount1 left over 36 months
Left, latest
- Carter James Morrissette to Berger Financial GroupNov 4, 2024 · RIA to RIA
- Heather Croke to Commonwealth Financial NetworkFeb 7, 2023 · RIA to affiliated broker-dealer or bank
- Katherine Manahan to RBC Capital Markets, LLCMar 22, 2022 · RIA to affiliated broker-dealer or bank
- Braden Charles Ellis to Ameriprise Financial Services, LLCJul 22, 2019 · RIA to affiliated broker-dealer or bank
Joined, latest
- Blake Brian Faust from Abbey StreetMay 4, 2026 · RIA to RIA
- Thomas Russell Pargett from Cwm, LLCMar 21, 2025 · Affiliated broker-dealer or bank to independent RIA
- Matthew Ryan Delaney from Cliftonlarsonallen Wealth Advisors, LLCJun 6, 2023 · Affiliated broker-dealer or bank to independent RIA
- Katherine Manahan from Merrill Lynch, Pierce, Fenner & Smith IncorporatedSep 24, 2021 · Wirehouse to independent RIA
- Matthew Heilmer from Fidelity Personal And Workplace AdvisorsJun 2, 2021 · Affiliated broker-dealer or bank to independent RIA
- Scott Eric Nelson from Robert Steffen & AssociatesJan 3, 2020 · Other
- Jon James Melander from Valmark Advisers, Inc.Mar 4, 2015 · Other
- Patrick Kelly Schneeman from 1st Global Advisors IncNov 3, 2014 · Other
- Joseph Daniel Bloodgood from 1st Global Advisors IncAug 28, 2014 · Other
- Braden Charles Ellis from Park Avenue Securities LLCAug 27, 2014 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Leigh Erik Allen · Governor, Treasurercontrolsince 03/2022 · owns less than 5%
- Lynn Boyd Laura Beise · Governercontrolsince 01/2023 · owns less than 5%
- Robert Jay Brown · President, Chief Executive Officer, Partner, Governorcontrolsince 03/2022 · owns less than 5%
- Ann Catherine Hogan · Board Secretary, Chief Compliance Officer, Chief Operating Officercontrolsince 08/2025 · owns less than 5%
- Brent Thomas Johnson · Governorcontrolsince 03/2022 · owns less than 5%
- Robert Dan Markowitz · Governorcontrolsince 06/2026 · owns less than 5%
- James Jon Melander · Partner, Board Chair, Governorcontrolsince 06/2023 · owns less than 5%
- Alan Tim Beversdorf · Membercontrolsince 03/2022 · owns F of Bfa Holdings, LLC
- Daniel Joseph Bloodgood · Membercontrolsince 03/2022 · owns F of Bfa Holdings, LLC
- Edgar David Bremer · Founding Partnercontrolsince 06/2023 · owns F of Bfa Holdings, LLC
- Robert Jay Brown · Membercontrolsince 03/2022 · owns F of Bfa Holdings, LLC
- Daniel Nathan Faith · Membercontrolsince 03/2022 · owns F of Bfa Holdings, LLC
- Marie Meghan Hanes · Membercontrolsince 06/2024 · owns F of Bfa Holdings, LLC
- Ann Catherine Hogan · Membercontrolsince 06/2024 · owns F of Bfa Holdings, LLC
- R Ellen Horan · Membercontrolsince 06/2023 · owns F of Bfa Holdings, LLC
- James Jon Melander · Membercontrolsince 03/2022 · owns 25% to 50% of Bfa Holdings, LLC
- Kelly Patrick Schneeman · Membercontrolsince 06/2024 · owns F of Bfa Holdings, LLC
Entity owners
- Bfa Holdings, LLC · Ownerdirect · owns 50% to 75%
- Boulay, Pllp · Ownerdirect · owns 25% to 50%
Related persons
Schedule D 7.A
- Andrew Kramer, Attorneyn
- Boulay Insurance Solutions, LLCreal estatey
- Boulay, Heutmaker, Zibell& Co. Pllpinsurancey
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Eden Prairie, Mn · principal | 32 | 6 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Minneapolis, MN1 employees
ADV anomalies
9 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Aug 19, 2026Markowitz, Dan, Robert (GOVERNOR) appeared on Schedule A between the filings of 2024-08-27 and 2026-08-19peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 19, 2026BREMER, DAVID, EDGAR (FOUNDING PARTNER) left Schedule A between the filings of 2024-08-27 and 2026-08-19peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 19, 2026BEVERSDORF, TIM, ALAN (MEMBER) left Schedule A between the filings of 2024-08-27 and 2026-08-19peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 19, 2026JOHNSON, THOMAS, BRENT (GOVERNOR) left Schedule A between the filings of 2024-08-27 and 2026-08-19peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 19, 2026SCHNEEMAN, PATRICK, KELLY (MEMBER) left Schedule A between the filings of 2024-08-27 and 2026-08-19peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 19, 2026HANES, MEGHAN, MARIE (MEMBER) left Schedule A between the filings of 2024-08-27 and 2026-08-19peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 19, 2026BLOODGOOD, JOSEPH, DANIEL (MEMBER) left Schedule A between the filings of 2024-08-27 and 2026-08-19peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 19, 2026FAITH, NATHAN, DANIEL (MEMBER) left Schedule A between the filings of 2024-08-27 and 2026-08-19peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 19, 2026HORAN, ELLEN, R (MEMBER) left Schedule A between the filings of 2024-08-27 and 2026-08-19peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Accounts · 4,260 to 4,384Aug 29, 2025 to Aug 19, 2026
- Advisory employees · 32 to 31Aug 29, 2025 to Aug 19, 2026
- Charity clients · 5.0 to unsetAug 29, 2025 to Aug 19, 2026
- Corporate clients · 16 to 13Aug 29, 2025 to Aug 19, 2026
- HNW clients · 534 to 630Aug 29, 2025 to Aug 19, 2026
- Individual clients · 572 to 466Aug 29, 2025 to Aug 19, 2026
- Pension plan clients · 8 to 14Aug 29, 2025 to Aug 19, 2026
- Assets in custody · $1.6B to $1.8BAug 29, 2025 to Aug 19, 2026
- Employees · 44 to 45Aug 29, 2025 to Aug 19, 2026
- State-registered IARs · 32 to 33Aug 29, 2025 to Aug 19, 2026
- Other offices · 1 to 0Aug 29, 2025 to Aug 19, 2026
- Discretionary RAUM · $2.3B to $2.9BAug 29, 2025 to Aug 19, 2026
- HNW RAUM · $2.1B to $2.7BAug 29, 2025 to Aug 19, 2026
- Individual RAUM · $236M to $209MAug 29, 2025 to Aug 19, 2026
- Non-discretionary RAUM · $82.5M to $93.1MAug 29, 2025 to Aug 19, 2026
- Pension RAUM · $13.0M to $54.9MAug 29, 2025 to Aug 19, 2026
- RAUM · $2.4B to $3.0BAug 29, 2025 to Aug 19, 2026
- Accounts · 3,878 to 4,260Aug 27, 2024 to Aug 29, 2025
- Advisory employees · 27 to 32Aug 27, 2024 to Aug 29, 2025
- Business name · BOULAY FINANCIAL ADVISORS, LLC to BOULAY WEALTHAug 27, 2024 to Aug 29, 2025
- Corporate clients · 9 to 16Aug 27, 2024 to Aug 29, 2025
- HNW clients · 467 to 534Aug 27, 2024 to Aug 29, 2025
- Individual clients · 566 to 572Aug 27, 2024 to Aug 29, 2025
- Pension plan clients · 9 to 8Aug 27, 2024 to Aug 29, 2025
- Assets in custody · $1.5B to $1.6BAug 27, 2024 to Aug 29, 2025
- Custody of client assets · false to trueAug 27, 2024 to Aug 29, 2025
- Employees · 40 to 44Aug 27, 2024 to Aug 29, 2025
- Financial planning clients · 11-25 to 1-10Aug 27, 2024 to Aug 29, 2025
- State-registered IARs · 25 to 32Aug 27, 2024 to Aug 29, 2025
- Discretionary RAUM · $2.0B to $2.3BAug 27, 2024 to Aug 29, 2025
- HNW RAUM · $1.9B to $2.1BAug 27, 2024 to Aug 29, 2025
- Individual RAUM · $220M to $236MAug 27, 2024 to Aug 29, 2025
- Non-discretionary RAUM · $167M to $82.5MAug 27, 2024 to Aug 29, 2025
- Pension RAUM · $15.3M to $13.0MAug 27, 2024 to Aug 29, 2025
- RAUM · $2.1B to $2.4BAug 27, 2024 to Aug 29, 2025
- Accounts · 3,853 to 3,878Aug 29, 2023 to Aug 27, 2024
- Advisory employees · 22 to 27Aug 29, 2023 to Aug 27, 2024
- Charity clients · 3 to 5Aug 29, 2023 to Aug 27, 2024
- Corporate clients · 8 to 9Aug 29, 2023 to Aug 27, 2024
- HNW clients · 434 to 467Aug 29, 2023 to Aug 27, 2024
Signals
23 dated events
- Carter James Morrissette left Boulay Wealth for Berger Financial Group (registered 2024-10-04)Nov 4, 2024 · Advisor changed firm · fact
- Ann Catherine Hogan (Board Secretary) appeared on Schedule A of Boulay WealthAug 27, 2024 · Control person joined · fact
- Kelly Patrick Schneeman (Member) appeared on Schedule A of Boulay WealthAug 27, 2024 · Control person joined · fact
- Marie Meghan Hanes (Member) appeared on Schedule A of Boulay WealthAug 27, 2024 · Control person joined · fact
- R Ellen Horan (Member) appeared on Schedule A of Boulay WealthAug 29, 2023 · Control person joined · fact
- Lynn Boyd Laura Beise (Governer) appeared on Schedule A of Boulay WealthAug 29, 2023 · Control person joined · fact
- Dawn Heather Croke (Member) no longer on Schedule A of Boulay Wealth (listed 2022-11-18, absent 2023-08-29)Aug 29, 2023 · Control person left · inference
- Cashman Molly Sebold (Member) no longer on Schedule A of Boulay Wealth (listed 2022-11-18, absent 2023-08-29)Aug 29, 2023 · Control person left · inference
- Heather Croke left Boulay Wealth for Commonwealth Financial Network (registered 2024-07-01)Feb 7, 2023 · Advisor changed firm · fact
- Daniel Joseph Bloodgood (Member) appeared on Schedule A of Boulay WealthMar 30, 2022 · Control person joined · fact
- Alan Tim Beversdorf (Member) appeared on Schedule A of Boulay WealthMar 30, 2022 · Control person joined · fact
- Dawn Heather Croke (Member) appeared on Schedule A of Boulay WealthMar 30, 2022 · Control person joined · fact
- Daniel Nathan Faith (Member) appeared on Schedule A of Boulay WealthMar 30, 2022 · Control person joined · fact
- James Jon Melander (Member) appeared on Schedule A of Boulay WealthMar 30, 2022 · Control person joined · fact
- Cashman Molly Sebold (Member) appeared on Schedule A of Boulay WealthMar 30, 2022 · Control person joined · fact
- Brent Thomas Johnson (Governor) appeared on Schedule A of Boulay WealthMar 30, 2022 · Control person joined · fact
- Leigh Erik Allen (Governor, Treasurer) appeared on Schedule A of Boulay WealthMar 30, 2022 · Control person joined · fact
- Katherine Manahan left Boulay Wealth for Rbc Capital Markets, Llc (registered 2022-03-23)Mar 22, 2022 · Advisor changed firm · fact
- Boulay Wealth reported RAUM $2.0B, up 35% from $1.5B (2020-08-31 to 2021-08-26)Aug 26, 2021 · RAUM change · derived
- Boulay Wealth reported 18 state-registered advisory representatives, up from 8 (2020-06-29 to 2020-08-31)Aug 31, 2020 · Advisor headcount change · derived
- Boulay Wealth reported RAUM $1.5B, up 95% from $760.9M (2020-06-29 to 2020-08-31)Aug 31, 2020 · RAUM change · derived
- Edgar David Bremer (Ceo) appeared on Schedule A of Boulay WealthAug 26, 2019 · Control person joined · fact
- Edgar David Bremer (Chief Executive Officer) no longer on Schedule A of Boulay Wealth (listed 2019-01-09, absent 2019-08-21)Aug 21, 2019 · Control person left · inference
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 email
- learnmore@boulaygroup.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- kwittmers@boulaygroup.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 952-209-3985reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 952-209-5686reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 952-209-5895reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- LINKEDIN.COM/COMPANY/BOULAYGROUPreportedpublic record, Form ADV, Sep 17, 2026
- Website
- BOULAYGROUP.COM/SERVICES/WEALTH-MANAGEMENTreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 952-893-9320reportedpublic record, Form ADV, Aug 19, 2026
- Contact form
- boulaygroup.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- boulaygroup.com/partnersreportedpublished 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
- $91.2Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026