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

Ipi Wealth Management, Inc.

Broker-dealer affiliated wealth managerDecatur, IllinoisCRD 111872SEC 801-56878websiteIAPD
Legal name Koshinski Asset Management, Inc.-Dba Ipi Asset Management, Inc.
Latest filing Mar 20, 2026
First filing on the tape Feb 14, 2012 · 49 filings
SEC status approved since Nov 1, 1999
RAUM
$2.7B
reported, Item 5.F
Discretionary
93%
of RAUM
Private clients
96%
$2.5B individuals and HNW
Advisors
68
registered through the firm on IAPD
RAUM per advisor
$39.1M
derived; firm RAUM over IAPD count
Employees
67
65 advisory (5.B.1)
Offices
39
beyond the principal office
Private funds
0
reported on Schedule D
History
49 filings and snapshots on the tape
RAUM$2.7B as of Mar 20, 2026
Feb 14, 2012$628M then
HNW client RAUM$927M as of Mar 20, 2026
Mar 1, 2018$47.9M then
State-registered IARs (5.B.3)67 as of Mar 20, 2026
Apr 3, 20137 then
Employees (5.A)67 as of Mar 20, 2026
Apr 3, 201312 then
Private funds: no history
RAUM +18% over the last fiscal year+14% a year over threeIARs 73 to 67offices 40 to 39
Practice profile
derived from the filing of Mar 20, 2026; every figure names its basis
Archetypes, each a printed rule
  • Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
  • Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
RAUM per advisor
$39.1MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
193derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.1MderivedHNW RAUM over HNW clients
Average account
$200,263derivedRAUM over accounts (5.F.2.f)
Discretionary
93%derivedof RAUM
Institutional
1.7%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.0derivedItem 5.A over advisors
Advisors per office
1.7derived40 offices incl. principal (1.F.5)
RAUM growth, one year
+18%derivedbetween the last two annual amendments
Advisor growth, one year
-8.2%derivedItem 5.B.3 between annual amendments
Client growth, one year
+23%derived
Compensation
percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisers, educational seminarsreportedItem 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
  • 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)
  • a related person has custody of client cash (9.B.1.a)
  • an independent public accountant performs a surprise examination (9.C.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$1.6B61%
  • High-net-worth individuals$927M35%
  • Corporations and businesses$68.2M2.6%
  • Pension and profit-sharing plans$42.5M1.6%
  • Charitable organizations$2.3M0.1%
Individual clients
12,703reported
HNW clients
435reported
Pension plan clients
51reported
Charitable clients
28reported
Accounts
13,260reported
Financial planning clients
26-50reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.96 fund_share=0.0 institutional_share=0.02 related_bd=true related_bank=false bd_reps=62.0derived
Advisors registered through the firm
68 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
David Paul KoshinskiDecatur, IlJan 13, 199834 y0
James Walter MintonDecatur, IlJan 13, 199834 y0
Joseph Lawrence HutmacherDecatur, Il Jan 13, 199935 y0
John Michael LaveryQuincy, IlSep 6, 200031 y0
Chris Charles HammannCarlinville, IlNov 1, 200033 y0
John Patrick MurphyCasey, IlNov 30, 200029 y0
Charles Roger SkempDubuque, IaMar 11, 200241 y0
Timothy Allen NoblesSpirit Lake, IaMar 26, 200227 y0
Bart Wilkins JonesBrentwood, TnJan 9, 200428 y0
Scott Douglas WintersBrentwood, TnJan 23, 200429 y0
Nathan Lee RewertsDecatur, Il May 5, 200629 y2
Eddie Dean HartBurlington, Ia Oct 23, 200641 y0
James Edward HamiltonDecatur, Il Jan 5, 200728 y1
Julie-Anne PickettMacomb, Il Nov 13, 200728 y0
Jennifer Kay LarsonCertified Financial Planner, Chartered Financial ConsultantDecatur, Il Apr 21, 200818 y0
David Wayne RuthsCertified Financial PlannerChicago, IlSep 8, 200826 y0
Gregory James McginnDecatur, Il Jun 2, 200940 y1
John M HartDecatur, Il Apr 23, 201018 y1
Alan FulkSpringfield, Il Mar 27, 201226 y2
Randall Stuart LaneSavoy, IlJan 3, 201320 y0
Craig Wayne MonceyChartered Financial ConsultantQuincy, Il Jan 9, 201427 y2
Garrick George BatleyDecatur, Il Jan 10, 201414 y0
Michelle Suzanne HancockDecatur, IlJul 1, 201421 y1
David Jerry VolanteSouth Lyon, MiMar 13, 201539 y1
Monte Rhae HazelbakerCincinnati, OhJan 4, 201627 y0
Sean Patrick CraigBloomington, IlMay 3, 201630 y3
Barbara Ann MutsaersZagaroloNov 4, 201633 y0
Elizabeth Anne MeierSt. Louis, MoJan 20, 201735 y0
Jerry Roy YockeyDecatur, Il Apr 21, 201733 y3
Allen Bayard ClosserCertified Financial PlannerDecatur, IlFeb 23, 201843 y1
Teanna L AndersonDecatur, IlAug 3, 201810 y0
Lori Lea FuerstenbergDecatur, IlNov 13, 201826 y4
Gregory James SmithDecatur, Il Mar 26, 201938 y2
Jason Bradley SchwiederDecatur, Il Apr 4, 201928 y1
Aaron Kent EberhartDecatur, Il Sep 4, 201910 y0
Jennifer DefriesBloomington, Il Jan 2, 202010 y2
Charles Thomas BrownDecatur, Il Jan 29, 202040 y0
Joe David MyersSurprise, Az Mar 31, 202038 y3
Garvis Kelby OwensDecatur, Il Apr 1, 202010 y1
Andrew L DejongDecatur, Il Jul 20, 202022 y4
All 68 advisors at Ipi Wealth Management, Inc.
Advisor movement
4 left, 2 joined in 12 months
net -2 in 12 months1 left in 90 days1 joined in 90 daysdeparture rate 5.9% of current headcount18 left over 36 months
Left, latest
Joined, latest
Teams: two or more advisors moving together within fourteen days, from one state
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • Bayard Allen Closser · Presidentcontrol
    since 06/2017 · owns 10% to 25%
  • Lea Lori Fuerstenberg · Chief Compliance Officercontrol
    since 11/2018 · owns less than 5%
  • Suzanne Michelle Hancock · Chief Operations Officercontrol
    since 08/2025 · owns less than 5%
  • Paul David Koshinski · Ceocontrol
    since 01/1996 · owns 75% or more
Related persons
Schedule D 7.A
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Decatur, Il · principal5143
Quincy, Il1040
San Juan, Pr400
Brentwood, Tn300
Yankton, Sd200
Springfield, Il200
Bloomington, Il200
Shelbyville, Il210
Dubuque, Ia200
Topeka, Ks200
Las Vegas, Nv100
Bowling Green, Ky100
Orlando, Fl001
Briarcliff Manor, Ny000
Dallas, Tx000
Englewood, Co000
Franklin, Ky000
Murfreesboro, Tn000
New Waterford, Oh000
Offices
Schedule D 1.F, the 25 largest
  • Quincy, IL5 employees
  • Dubuque, IA4 employees
  • San Juan, PR3 employees
  • Bowling Green, KY3 employees
  • Brentwood, TN2 employees
  • Quincy, IL2 employees
  • Fortville, IN2 employees
  • , 2 employees
  • , 2 employees
  • Yankton, SD2 employees
  • Nashville, TN2 employees
  • Macomb, IL2 employees
  • Dallas, TX2 employees
  • , 1 employees
  • Burlington, IA1 employees
  • , 1 employees
  • , 1 employees
  • Mt Zion, IL1 employees
  • , 1 employees
  • Neenah, WI1 employees
  • Alton, IL1 employees
  • Bloomington, IL1 employees
  • Shelbyville, IL1 employees
  • Greensburg, IN1 employees
  • , 1 employees
What changed
consecutive filings, newest first
  • Accounts · 10,743 to 13,260
    Jun 9, 2025 to Mar 20, 2026
  • Advisory employees · 71 to 65
    Jun 9, 2025 to Mar 20, 2026
  • BD registered reps · 63 to 62
    Jun 9, 2025 to Mar 20, 2026
  • Charity clients · 24 to 28
    Jun 9, 2025 to Mar 20, 2026
  • Corporate clients · 34 to 43
    Jun 9, 2025 to Mar 20, 2026
  • HNW clients · 321 to 435
    Jun 9, 2025 to Mar 20, 2026
  • Individual clients · 10,345 to 12,703
    Jun 9, 2025 to Mar 20, 2026
  • Pension plan clients · 19 to 51
    Jun 9, 2025 to Mar 20, 2026
  • Employees · 73 to 67
    Jun 9, 2025 to Mar 20, 2026
  • State-registered IARs · 73 to 67
    Jun 9, 2025 to Mar 20, 2026
  • Other offices · 40 to 39
    Jun 9, 2025 to Mar 20, 2026
  • Discretionary RAUM · $2.1B to $2.5B
    Jun 9, 2025 to Mar 20, 2026
  • HNW RAUM · $673M to $927M
    Jun 9, 2025 to Mar 20, 2026
  • Individual RAUM · $1.5B to $1.6B
    Jun 9, 2025 to Mar 20, 2026
  • Non-discretionary RAUM · $112M to $182M
    Jun 9, 2025 to Mar 20, 2026
  • Pension RAUM · $15.9M to $42.5M
    Jun 9, 2025 to Mar 20, 2026
  • RAUM · $2.2B to $2.7B
    Jun 9, 2025 to Mar 20, 2026
  • Financial planning clients · 26-50 to 26-50
    Mar 24, 2025 to Jun 9, 2025
  • Accounts · 10,573 to 10,743
    Apr 8, 2024 to Mar 24, 2025
  • Advisory employees · 75 to 71
    Apr 8, 2024 to Mar 24, 2025
  • BD registered reps · 61 to 63
    Apr 8, 2024 to Mar 24, 2025
  • Charity clients · 19 to 24
    Apr 8, 2024 to Mar 24, 2025
  • Corporate clients · 29 to 34
    Apr 8, 2024 to Mar 24, 2025
  • HNW clients · 324 to 321
    Apr 8, 2024 to Mar 24, 2025
  • Individual clients · 10,144 to 10,345
    Apr 8, 2024 to Mar 24, 2025
  • Pension plan clients · 55 to 19
    Apr 8, 2024 to Mar 24, 2025
  • Employees · 78 to 73
    Apr 8, 2024 to Mar 24, 2025
  • State-registered IARs · 78 to 73
    Apr 8, 2024 to Mar 24, 2025
  • Other offices · 43 to 40
    Apr 8, 2024 to Mar 24, 2025
  • Discretionary RAUM · $2.0B to $2.1B
    Apr 8, 2024 to Mar 24, 2025
  • HNW RAUM · $751M to $673M
    Apr 8, 2024 to Mar 24, 2025
  • Individual RAUM · $1.3B to $1.5B
    Apr 8, 2024 to Mar 24, 2025
  • Non-discretionary RAUM · $192M to $112M
    Apr 8, 2024 to Mar 24, 2025
  • Pension RAUM · $93.1M to $15.9M
    Apr 8, 2024 to Mar 24, 2025
  • RAUM · $2.1B to $2.2B
    Apr 8, 2024 to Mar 24, 2025
  • Accounts · 9,785 to 10,573
    Jan 3, 2024 to Mar 22, 2024
  • Advisory employees · 78 to 75
    Jan 3, 2024 to Mar 22, 2024
  • Advisory activities · 4 to 5
    Jan 3, 2024 to Mar 22, 2024
  • BD registered reps · 62 to 61
    Jan 3, 2024 to Mar 22, 2024
  • Charity clients · 17 to 19
    Jan 3, 2024 to Mar 22, 2024
Signals
27 dated events
  • Robert Matthew Sweas left Ipi Wealth Management, Inc. for Lifeworks Advisors, Llc (registered 2026-07-28)
    Jul 20, 2026 · Advisor changed firm · fact
  • Chad C Altadonna left Ipi Wealth Management, Inc. for United Planners' Financial Services Of America A Limited Partner (registered 2026-05-15)
    Apr 28, 2026 · Advisor changed firm · fact
  • Alwin F Martinez Gonzalez left Ipi Wealth Management, Inc. for Lpl Financial Llc (registered 2026-05-18)
    Feb 10, 2026 · Advisor changed firm · fact
  • Philip Wesley Wegman left Ipi Wealth Management, Inc. for Journey Beyond Wealth (registered 2025-10-21)
    Sep 29, 2025 · Advisor changed firm · fact
  • Cory Reid Neumiller left Ipi Wealth Management, Inc. for Bonfire Financial, Llc (registered 2025-09-12)
    Sep 8, 2025 · Advisor changed firm · fact
  • Lee Joseph Nosbisch left Ipi Wealth Management, Inc. for Lpl Enterprise, Llc (registered 2026-07-16)
    Aug 8, 2025 · Advisor changed firm · fact
  • Paul Reynold Brown left Ipi Wealth Management, Inc. for Clearstone Wealth Management, Llc (registered 2025-02-13)
    Jan 2, 2025 · Advisor changed firm · fact
  • Gregory Carl Barson left Ipi Wealth Management, Inc. for Lpl Financial Llc (registered 2025-04-09)
    Dec 31, 2024 · Advisor changed firm · fact
  • 2 advisors left Cambridge Investment Research Advisors, Inc. (Bowling Green, KY) for Ipi Wealth Management, Inc. on the same day
    Sep 5, 2024 · Team lift-out · derived
  • Lora Jane Hoff left Ipi Wealth Management, Inc. for Concurrent Investment Advisors, Llc (registered 2024-08-07)
    Aug 8, 2024 · Advisor changed firm · fact
  • 2 advisors left Ipi Wealth Management, Inc. (Dallas, TX) for Concurrent Investment Advisors, LLC on the same day
    Aug 8, 2024 · Team lift-out · derived
  • Joshua Christian Hoff left Ipi Wealth Management, Inc. for Concurrent Investment Advisors, Llc (registered 2024-08-08)
    Aug 8, 2024 · Advisor changed firm · fact
  • Kevin Douglas Taylor left Ipi Wealth Management, Inc. for Cambridge Investment Research Advisors, Inc. (registered 2024-06-18)
    Jul 1, 2024 · Advisor changed firm · fact
  • Michael Wayne Newton left Ipi Wealth Management, Inc. for Cambridge Investment Research Advisors, Inc. (registered 2024-06-19)
    Jul 1, 2024 · Advisor changed firm · fact
  • Brady Thomas Reynolds left Ipi Wealth Management, Inc. for Cambridge Investment Research Advisors, Inc. (registered 2024-06-18)
    Jul 1, 2024 · Advisor changed firm · fact
  • 4 advisors left Ipi Wealth Management, Inc. (Bowling Green, KY) for Cambridge Investment Research Advisors, Inc. on the same day
    Jul 1, 2024 · Team lift-out · derived
  • Karen R Reynolds left Ipi Wealth Management, Inc. for Cambridge Investment Research Advisors, Inc. (registered 2024-06-18)
    Jul 1, 2024 · Advisor changed firm · fact
  • David Dahl left Ipi Wealth Management, Inc. for Integrated Wealth Concepts Llc (registered 2024-03-12)
    Feb 29, 2024 · Advisor changed firm · fact
  • David Cleary left Ipi Wealth Management, Inc. for Fortis Capital Advisors, Llc (registered 2024-02-05)
    Feb 1, 2024 · Advisor changed firm · fact
  • Patrick Mullin left Ipi Wealth Management, Inc. for Fortis Capital Advisors, Llc (registered 2024-02-18)
    Jan 24, 2024 · Advisor changed firm · fact
  • Regina Unger left Ipi Wealth Management, Inc. for Kcd Financial, Inc. (registered 2024-01-03)
    Nov 21, 2023 · Advisor changed firm · fact
  • Maxwell Jason Gensler left Ipi Wealth Management, Inc. for Cambridge Investment Research Advisors, Inc. (registered 2025-01-17)
    Jun 26, 2023 · Advisor changed firm · fact
  • Jane Mary Yeager (Municipal Principal) no longer on Schedule A of Ipi Wealth Management, Inc. (listed 2022-11-29, absent 2023-03-23)
    Mar 23, 2023 · Control person left · inference
  • Richard Hunter left Ipi Wealth Management, Inc. for Lpl Financial Llc (registered 2025-11-06)
    Jan 3, 2023 · Advisor changed firm · fact
  • Michael Balch left Ipi Wealth Management, Inc. for Ip Financial Advisory Services Llc (registered 2023-12-01)
    Dec 20, 2022 · Advisor changed firm · fact
  • Ipi Wealth Management, Inc. reported RAUM $1.9B, up 56% from $1.2B (2021-03-19 to 2022-03-24)
    Mar 24, 2022 · RAUM change · derived
  • Brenton D Ernsbarger left Ipi Wealth Management, Inc. for Merrill Lynch, Pierce, Fenner & Smith Incorporated (registered 2022-06-01)
    Feb 10, 2022 · Advisor changed firm · 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
Firm profile
LINKEDIN.COM/COMPANY/IPIWealthManagementreportedpublic record, Form ADV, Sep 17, 2026
Website
myipiwealth.comreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone
217-425-6340reportedpublic record, Form ADV, Mar 20, 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
Broker-dealer affiliated wealth managerderiveda rule over Items 5.D and 7.A
RAUM per advisor
$39.1Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026