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.

Former SEC-registered adviser

Grunden Financial Advisory, Inc.

Former SEC-registered adviserDenton, TexasCRD 111595SEC 801-58252websiteIAPD
Latest filing Mar 10, 2025
First filing on the tape Feb 16, 2012 · 31 filings
SEC status approved since Dec 29, 2000
RAUM
$435M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
99%
$432M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
6
4 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$435M as of Mar 10, 2025
Mar 23, 2012$94.2M then
HNW client RAUM$360M as of Mar 10, 2025
Mar 30, 2018$140M then
State-registered IARs (5.B.3)4 as of Mar 10, 2025
Mar 23, 20120 then
Employees (5.A)6 as of Mar 10, 2025
Feb 14, 20133 then
Private funds: no history
RAUM +19% over the last fiscal year+11% a year over threeIARs 3 to 4
Practice profile
derived from the filing of Mar 10, 2025; every figure names its basis
RAUM per advisor
$109MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
65derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$3.5MderivedHNW RAUM over HNW clients
Average account
$1.7MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.6%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.5derivedItem 5.A over advisors
Advisors per office
4.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+19%derivedbetween the last two annual amendments
Advisor growth, one year
+33%derivedItem 5.B.3 between annual amendments
Client growth, one year
+11%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, selection of other advisersreportedItem 5.G
Custody
$149M, 132 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
  • 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)
  • 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)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$360M83%
  • Individuals$71.6M16%
  • Pension and profit-sharing plans$2.0M0.5%
  • Charitable organizations$749,6910.2%
Individual clients
157reported
HNW clients
102reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
262reported
Financial planning clients
26-50reported
Wrap fee programs
noreported
Custody of client assets
$149M for 132 clientsreported
Compensation
% of AUM, fixedreported
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
4 left, 0 joined in 12 months
net -4 in 12 months0 left in 90 days0 joined in 90 days4 left over 36 months
Left, latest
Joined, latest
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
    • Lee Ricky Grunden · President / Ceocontrol
      since 12/2002 · owns 50% to 75%
    • Ashley David Ragan · Vice President And Ccocontrol
      since 03/2018 · owns 25% to 50%
    • Marie Susannah Thomas · Financial Planning Specialist
      since 12/2017 · owns 10% to 25%
    Related persons
    Schedule D 7.A
    No related person reported.
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Denton, Tx · principal004
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Accounts · 833 to 262
      Jun 3, 2024 to Mar 10, 2025
    • HNW clients · 96 to 102
      Jun 3, 2024 to Mar 10, 2025
    • Individual clients · 138 to 157
      Jun 3, 2024 to Mar 10, 2025
    • Assets in custody · $140M to $149M
      Jun 3, 2024 to Mar 10, 2025
    • Financial planning clients · 26-50 to 26-50
      Jun 3, 2024 to Mar 10, 2025
    • State-registered IARs · 3 to 4
      Jun 3, 2024 to Mar 10, 2025
    • Discretionary RAUM · $365M to $435M
      Jun 3, 2024 to Mar 10, 2025
    • HNW RAUM · $306M to $360M
      Jun 3, 2024 to Mar 10, 2025
    • Individual RAUM · $56.8M to $71.6M
      Jun 3, 2024 to Mar 10, 2025
    • Pension RAUM · $1.2M to $2.0M
      Jun 3, 2024 to Mar 10, 2025
    • RAUM · $365M to $435M
      Jun 3, 2024 to Mar 10, 2025
    • Accounts · 896 to 833
      Oct 3, 2023 to Mar 11, 2024
    • Advisory employees · 3 to 4
      Oct 3, 2023 to Mar 11, 2024
    • HNW clients · 95 to 96
      Oct 3, 2023 to Mar 11, 2024
    • Individual clients · 143 to 138
      Oct 3, 2023 to Mar 11, 2024
    • Assets in custody · $145M to $140M
      Oct 3, 2023 to Mar 11, 2024
    • Employees · 5 to 6
      Oct 3, 2023 to Mar 11, 2024
    • Discretionary RAUM · $349M to $365M
      Oct 3, 2023 to Mar 11, 2024
    • HNW RAUM · $295M to $306M
      Oct 3, 2023 to Mar 11, 2024
    • Individual RAUM · $51.9M to $56.8M
      Oct 3, 2023 to Mar 11, 2024
    • Pension RAUM · $954,050 to $1.2M
      Oct 3, 2023 to Mar 11, 2024
    • RAUM · $349M to $365M
      Oct 3, 2023 to Mar 11, 2024
    • Accounts · 1,108 to 896
      Jul 21, 2022 to Mar 3, 2023
    • HNW clients · 90 to 95
      Jul 21, 2022 to Mar 3, 2023
    • Individual clients · 128 to 143
      Jul 21, 2022 to Mar 3, 2023
    • Assets in custody · $276M to $145M
      Jul 21, 2022 to Mar 3, 2023
    • Employees · 4 to 5
      Jul 21, 2022 to Mar 3, 2023
    • Discretionary RAUM · $318M to $349M
      Jul 21, 2022 to Mar 3, 2023
    • HNW RAUM · $267M to $295M
      Jul 21, 2022 to Mar 3, 2023
    • Individual RAUM · $48.0M to $51.9M
      Jul 21, 2022 to Mar 3, 2023
    • Pension RAUM · $1.1M to $954,050
      Jul 21, 2022 to Mar 3, 2023
    • RAUM · $318M to $349M
      Jul 21, 2022 to Mar 3, 2023
    • Accounts · 1,002 to 1,108
      Mar 23, 2021 to Mar 18, 2022
    • HNW clients · 82 to 90
      Mar 23, 2021 to Mar 18, 2022
    • Assets in custody · $225M to $276M
      Mar 23, 2021 to Mar 18, 2022
    • Employees · 5 to 4
      Mar 23, 2021 to Mar 18, 2022
    • Discretionary RAUM · $287M to $318M
      Mar 23, 2021 to Mar 18, 2022
    • HNW RAUM · $237M to $267M
      Mar 23, 2021 to Mar 18, 2022
    • Individual RAUM · $47.8M to $48.0M
      Mar 23, 2021 to Mar 18, 2022
    • Pension RAUM · $925,567 to $1.1M
      Mar 23, 2021 to Mar 18, 2022
    Signals
    7 dated events
    • Grunden Financial Advisory, Inc. no longer on the SEC adviser roster (last listed 2026-01-02, RAUM $434.7M)
      Feb 2, 2026 · Left the SEC roster · derived
    • Ricky Lee Grunden left Grunden Financial Advisory, Inc. for Allworth Financial, L.P. (registered 2026-01-15)
      Jan 28, 2026 · Advisor changed firm · fact
    • David Ashley Ragan left Grunden Financial Advisory, Inc. for Allworth Financial, L.P. (registered 2026-01-15)
      Jan 28, 2026 · Advisor changed firm · fact
    • Robert William Thomas left Grunden Financial Advisory, Inc. for Allworth Financial, L.P. (registered 2026-01-15)
      Jan 28, 2026 · Advisor changed firm · fact
    • Susannah Marie Thomas left Grunden Financial Advisory, Inc. for Allworth Financial, L.P. (registered 2026-01-15)
      Jan 28, 2026 · Advisor changed firm · fact
    • Grunden Financial Advisory, Inc.'s advisors moved to Allworth Financial, L.P. (Denton, TX): 4 of 4 registered, on the same day
      Jan 28, 2026 · Firm absorbed (people side) · derived
    • Grunden Financial Advisory, Inc. reported RAUM $286.8M, up 57% from $182.5M (2020-06-15 to 2021-03-23)
      Mar 23, 2021 · 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.
    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