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.
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SEC-registered adviser
E•• A•••••••
Legal name E•• A••••••• L••
Latest filing Mar 3, 2026
First filing on the tape Jun 20, 2012 · 54 filings
SEC status approved since Mar 11, 2004
RAUM
$2.4B
reported, Item 5.F
Discretionary
92%
of RAUM
Private clients
97%
$2.3B individuals and HNW
Advisors
52
registered through the firm on IAPD
RAUM per advisor
$46.2M
derived; firm RAUM over IAPD count
Employees
59
52 advisory (5.B.1)
Offices
25
beyond the principal office
Private funds
0
reported on Schedule D
History
54 filings and snapshots on the tape
RAUM$2.4B as of Mar 3, 2026
Jun 29, 2012$520M then
HNW client RAUM: no history
State-registered IARs (5.B.3)55 as of Mar 3, 2026
Mar 21, 20130 then
Employees (5.A)59 as of Mar 3, 2026
Mar 21, 201340 then
Private funds: no history
RAUM +5.8% over the last fiscal year+12% a year over threeIARs 59 to 55offices 24 to 25
Practice profile
derived from the filing of Mar 3, 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)
- Planning-led practice · financial planning activity (5.G.1), at least 100 financial planning clients (5.H), and hourly, fixed or subscription compensation (5.E)
- RAUM per advisor
- $46.2MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $81,616derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 92%derivedof RAUM
- Institutional
- 2.7%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.1derivedItem 5.A over advisors
- Advisors per office
- 2.0derived26 offices incl. principal (1.F.5)
- RAUM growth, one year
- +5.8%derivedbetween the last two annual amendments
- Advisor growth, one year
- -6.8%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, hourlyreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, publications, educational seminarsreportedItem 5.G
- Financial planning clients
- 21,500reportedItem 5.H
- 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)
- 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)
- marketing includes testimonials (5.L.1.c)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Individuals$2.3B97%
- Pension and profit-sharing plans$59.8M2.5%
- Insurance companies$4.7M0.2%
- Corporations and businesses$3.4M0.1%
- Charitable organizations$1.1M0.0%
- State and municipal entities$126,8660.0%
- Individual clients
- 21,660reported
- HNW clients
- n/areported
- Pension plan clients
- 24reported
- Charitable clients
- 9reported
- Accounts
- 29,438reported
- Financial planning clients
- 21,500reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, hourlyreported
- Class basis
- private_client_share=0.97 fund_share=0.0 institutional_share=0.03 related_bd=true related_bank=false bd_reps=59.0derived
Advisors registered through the firm
52 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| K••• D••••• S••••••Certified Financial Planner | C••••••••, Mn | Jul 5, 2007 | 36 y | 0 |
| D••••• J••• L••••• | C••••••••, Mn | May 14, 2009 | 21 y | 0 |
| J••• R• M•••••••• | C••••••••, Mn | Oct 13, 2009 | 18 y | 0 |
| R••• E••••• B•••• | C••••••••, Mn | Nov 1, 2013 | 25 y | 0 |
| D••• R••••• I••••••••Certified Financial Planner | Minnetonka, Mn | Nov 1, 2013 | 41 y | 0 |
| A•••••• D••••• S•••••• | C••••••••, Mn | Nov 1, 2013 | 20 y | 0 |
| D•••• B••••••• W•••• | C••••••••, Mn | Nov 4, 2013 | 31 y | 0 |
| T••• J••••• O••••• | C••••••••, Mn | Nov 4, 2013 | 37 y | 0 |
| S••••••• J• B•••• S••••• | Coon Rapids, Mn | Nov 4, 2013 | 18 y | 0 |
| R•••• A•••••• P••••••• | C••••••••, Mn | Nov 5, 2013 | 17 y | 0 |
| D•••• W•••••• N•••••• | C••••••••, Mn | Jan 15, 2014 | 18 y | 0 |
| J•••• S•••••• B••••• | Duluth, Mn | Jan 15, 2014 | 24 y | 0 |
| J•• M•••••• T••••• H••••••Certified Financial Planner | C••••••••, Mn | Jan 15, 2014 | 15 y | 0 |
| S•••••• M•••••• N••••••• | C••••••••, Mn | Jan 23, 2014 | 19 y | 0 |
| M•••••• J••• E••••••• | C••••••••, Mn | Oct 9, 2014 | 12 y | 0 |
| M••• E••• G••• | Minnetonka, Mn | Jan 4, 2016 | 12 y | 0 |
| B•••• L••• H••••• | Rochester, Mn | Jan 20, 2016 | 14 y | 0 |
| A••••••••• A••••••• H••••••••• | St. Paul, Mn | Aug 29, 2016 | 11 y | 0 |
| G••••• W•••••• L•••••••• | C••••••••, Mn | Sep 7, 2016 | 12 y | 1 |
| J••••• F•••••• B••••••••• | St. Paul, Mn | Sep 8, 2016 | 21 y | 1 |
| B••••• B•• W••••••• | C••••••••, Mn | Apr 4, 2017 | 31 y | 0 |
| S••••• A•••• M•••• | C••••••••, Mn | Jul 20, 2017 | 12 y | 0 |
| T•••• T••••• F••••Certified Financial Planner | Apple Valley, Mn | Nov 1, 2017 | 25 y | 3 |
| C•••••• D•••• M••••• | Stillwater, Mn | May 18, 2018 | 17 y | 1 |
| S•••• M•••••• M••••••• | C••••••••, Mn | Nov 21, 2018 | 32 y | 0 |
| A•••••• S••••• J••• B••••• | C••••••••, Mn | Nov 21, 2019 | 13 y | 1 |
| C••••••••• A••••• W••••••• | C••••••••, Mn | Dec 13, 2019 | 12 y | 0 |
| A•••• M•••••• M••••••• | C••••••••, Mn | Jan 3, 2020 | 13 y | 0 |
| L•••••• E••• | C••••••••, Mn | Feb 24, 2020 | 15 y | 1 |
| R•••••• R•• T•••••••• | C••••••••, Mn | Feb 25, 2020 | 12 y | 0 |
| B•••••• T••••• W••••••• | C••••••••, Mn | Aug 25, 2020 | 11 y | 0 |
| A••• W•••••• R••••• | Brooklyn Park, Mn | Jun 14, 2021 | 14 y | 0 |
| D•••••• E••••• W••••• | C••••••••, Mn | Sep 16, 2021 | 33 y | 0 |
| S••••• J••• L••••••• | C••••••••, Mn | Mar 30, 2022 | 33 y | 6 |
| E•••••••• A••• M••••••••• | C••••••••, Mn | Jun 17, 2022 | 15 y | 0 |
| J••••• A••••••• | C••••••••, Mn | Jul 8, 2022 | 14 y | 0 |
| G•••••• J••• B••••••• | C••••••••, Mn | Jan 25, 2023 | 25 y | 1 |
| E•••• J• K•••••• | Rock Island, Il | Jun 16, 2023 | 12 y | 2 |
| D•••• A••• P•••••••• | Chicholm, Mn | Jul 21, 2023 | 12 y | 0 |
| L••• L••• M••••• | Jefferson City, Mo | Jul 21, 2023 | 14 y | 0 |
Advisor movement
2 left, 0 joined in 12 months
net -2 in 12 months2 left in 90 days0 joined in 90 daysdeparture rate 3.8% of current headcount6 left over 36 months
Left, latest
- P•••••• J•• S••••••• to A••••••• A•••••• G••••• L••Sep 10, 2026 · Affiliated broker-dealer or bank to independent RIA
- B•••• T••••• L•••••• to A••••••• A•••••• G••••• L••Sep 10, 2026 · Affiliated broker-dealer or bank to independent RIA
- R••• M••• Q•••• to V•• C•••••• W••••• M••••••••• L••Apr 16, 2025 · Affiliated broker-dealer or bank to independent RIA
- P••• A•••••• R••••• to M•• I•••••••• S•••••••• L••Mar 17, 2025 · Affiliated broker-dealer or bank to another
- J••••• R••• D••••• to A••••••• A•••••• G••••• L••Aug 28, 2024 · Affiliated broker-dealer or bank to independent RIA
- M•••••• W•••• M•••••••• to G•••• V••••• A•••••• G••••• L••Aug 28, 2024 · Affiliated broker-dealer or bank to independent RIA
- T•••• L•• H••••••• to E•••••• A••••••• G••••• L••Feb 20, 2023 · RIA to affiliated broker-dealer or bank
- J•••• A• J•••• to S••••••••• S••••••••• L••Nov 1, 2019 · Other
- T••••• W•••• O••••• to A••••••• A•••••• G••••• L••May 25, 2016 · Other
- K•••••• D•••• M••••••• to B••••••• I••••••••• S•••••••• I••• •••••Aug 3, 2010 · Other
Joined, latest
- P••• M•••••• R••••••• from W•• F•••••••• A•••••••• I•••Jan 2, 2025 · Other
- B•••••• J••••• J•••••• from V•••• F•••••••• A•••••••• I•••Sep 17, 2024 · Affiliated broker-dealer or bank to another
- E•••• J• K•••••• from M•• F•••••••• S•••••••• I•••Jun 16, 2023 · RIA to affiliated broker-dealer or bank
- P••• A•••••• R••••• from C•••••••• I••••••••• R••••••• A•••••••• I•••May 18, 2023 · Affiliated broker-dealer or bank to another
- G•••••• J••• B••••••• from V•••• F•••••••• A•••••••• I•••Jan 25, 2023 · Affiliated broker-dealer or bank to independent RIA
- T•••• L•• H••••••• from A••••••• A•••••• G••••• L••Mar 30, 2022 · RIA to RIA
- L•••••• E••• from J••• M••••• P•••••• W••••• A••••••• L••Feb 24, 2020 · RIA to RIA
- A•••••• S••••• J••• B••••• from T••••••• I••••••••• M••••••••• I•••Nov 21, 2019 · Affiliated broker-dealer or bank to independent RIA
- C•••••• D•••• M••••• from N•••••••• A•••• M•••••••••May 18, 2018 · RIA to RIA
- M•••••• W•••• M•••••••• from V••• F•••••••• A•••••••• I•••Feb 26, 2018 · Other
- T•••• T••••• F•••• from V••• F•••••••• A•••••••• I•••Nov 1, 2017 · Other
- J••••• F•••••• B••••••••• from V••• F•••••••• A•••••••• I•••Sep 8, 2016 · Other
- G••••• W•••••• L•••••••• from W•••••• • R•••Sep 7, 2016 · Other
- K•••••• D•••• M••••••• from E••••• J••••Jun 2, 2008 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 left for A••••••• A•••••• G••••• L••Sep 10, 2026 · Brooklyn Park, Mn
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- F•••••• D••••••• S•••• · Coocontrolsince 10/2003 · owns less than 5%
- K••••••• E••••• J• · Ccocontrolsince 02/2025 · owns less than 5%
- L••••• N•••• G•••••• · Ccocontrolsince 04/2023 · owns less than 5%
- S••••••• K•••• D••••• · Presidentcontrolsince 04/1996 · owns 50% to 75%
- S••••••• L•••• M• · Vice Presidentcontrolsince 04/1996 · owns 50% to 75%
Related persons
Schedule D 7.A
- A••••••• A•••••• G••••• L••broker-dealerinvestment advisernRAUM $10.9M
- E•••••••• L••••••• S••••••••real estaten
Advisers that list E•• A••••••• as a related person
- 140393 n
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| C••••••••, Mn · principal | 52 | 3 | 0 | ||
| Apple V•••••, Mn | 4 | 0 | 0 | ||
| Coon Rapids, Mn | 4 | 0 | 0 | ||
| Rochester, Mn | 4 | 0 | 0 | ||
| Crosby, Mn | 3 | 0 | 0 | ||
| Duluth, Mn | 3 | 0 | 0 | ||
| Brooklyn Park, Mn | 3 | 0 | 1 | 1 | |
| Stillwater, Mn | 3 | 0 | 1 | ||
| Willmar, Mn | 2 | 0 | 0 | ||
| Fargo, Nd | 2 | 0 | 0 | ||
| Minnetonka, Mn | 2 | 0 | 0 | ||
| St P•••, Mn | 2 | 0 | 0 | ||
| Waite Park, Mn | 2 | 1 | 0 | ||
| Simsbury, Ct | 0 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Minnetonka, MN4 employees
- Rochester, MN4 employees
- Stillwater, MN4 employees
- Burnsville, MN3 employees
- Waite Park, MN3 employees
- Windom, MN3 employees
- C••••••••, MN3 employees
- , 3 employees
- St. P•••, MN3 employees
- Brooklyn Park, MN2 employees
- Chisholm, MN2 employees
- , 2 employees
- Willmar, MN1 employees
- Mankato, MN1 employees
- Detroit Lakes, MN1 employees
- Coon Rapids, MN1 employees
- , 1 employees
- Bemidji, MN1 employees
- Duluth, MN1 employees
- , 1 employees
- Lakeville, MN1 employees
- Woodbury, MN1 employees
- Champlin, MN1 employees
- , 1 employees
ADV anomalies
3 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Mar 3, 2026K••••••• E••••• J• (CCO) appeared on Schedule A between the filings of 2024-03-13 and 2026-03-03peers: affiliated wealth managers, $1B to $5B (56)
- control person changedChange between filings · filing Mar 3, 2026S••••••• K•••• D••••• (PRESIDENT) left Schedule A between the filings of 2024-03-13 and 2026-03-03peers: affiliated wealth managers, $1B to $5B (56)
- control person changedChange between filings · filing Mar 3, 2026L••••• N•••• G•••••• (CCO) left Schedule A between the filings of 2024-03-13 and 2026-03-03peers: affiliated wealth managers, $1B to $5B (56)
What changed
consecutive filings, newest first
- Accounts · 29,714 to 29,438Mar 11, 2025 to Mar 3, 2026
- Charity clients · 6 to 9Mar 11, 2025 to Mar 3, 2026
- Individual clients · 21,420 to 21,660Mar 11, 2025 to Mar 3, 2026
- Pension plan clients · 17 to 24Mar 11, 2025 to Mar 3, 2026
- Insurance-licensed employees · 9 to 11Mar 11, 2025 to Mar 3, 2026
- State-registered IARs · 59 to 55Mar 11, 2025 to Mar 3, 2026
- Other offices · 24 to 25Mar 11, 2025 to Mar 3, 2026
- Discretionary RAUM · $2.0B to $2.2BMar 11, 2025 to Mar 3, 2026
- Individual RAUM · $2.2B to $2.3BMar 11, 2025 to Mar 3, 2026
- Non-discretionary RAUM · $225M to $198MMar 11, 2025 to Mar 3, 2026
- Pension RAUM · $52.8M to $59.8MMar 11, 2025 to Mar 3, 2026
- RAUM · $2.3B to $2.4BMar 11, 2025 to Mar 3, 2026
- Accounts · 29,019 to 29,714Mar 13, 2024 to Mar 11, 2025
- Advisory employees · 53 to 52Mar 13, 2024 to Mar 11, 2025
- Charity clients · 7 to 6Mar 13, 2024 to Mar 11, 2025
- Corporate clients · 12 to 6Mar 13, 2024 to Mar 11, 2025
- Individual clients · 20,787 to 21,420Mar 13, 2024 to Mar 11, 2025
- Pension plan clients · 25 to 17Mar 13, 2024 to Mar 11, 2025
- Insurance-licensed employees · 0 to 9Mar 13, 2024 to Mar 11, 2025
- Financial planning clients · More than 500 to More than 500Mar 13, 2024 to Mar 11, 2025
- State-registered IARs · 58 to 59Mar 13, 2024 to Mar 11, 2025
- Legal name · E••••••••• F•••••••• S•••••••• I••• to E•• A••••••• L••Mar 13, 2024 to Mar 11, 2025
- Discretionary RAUM · $1.8B to $2.0BMar 13, 2024 to Mar 11, 2025
- Individual RAUM · $2.0B to $2.2BMar 13, 2024 to Mar 11, 2025
- Non-discretionary RAUM · $253M to $225MMar 13, 2024 to Mar 11, 2025
- Pension RAUM · $54.8M to $52.8MMar 13, 2024 to Mar 11, 2025
- RAUM · $2.0B to $2.3BMar 13, 2024 to Mar 11, 2025
- Succession · true to falseMar 13, 2024 to Mar 11, 2025
- Accounts · 26,921 to 29,019May 2, 2023 to Mar 13, 2024
- Advisory employees · 51 to 53May 2, 2023 to Mar 13, 2024
- BD registered reps · 55 to 59May 2, 2023 to Mar 13, 2024
- Charity clients · 0 to 7May 2, 2023 to Mar 13, 2024
- Corporate clients · 15 to 12May 2, 2023 to Mar 13, 2024
- Individual clients · 26,985 to 20,787May 2, 2023 to Mar 13, 2024
- Employees · 55 to 59May 2, 2023 to Mar 13, 2024
- State-registered IARs · 55 to 58May 2, 2023 to Mar 13, 2024
- Other offices · 31 to 24May 2, 2023 to Mar 13, 2024
- Organization form · Corporation to Limited Liability CompanyMay 2, 2023 to Mar 13, 2024
- Discretionary RAUM · $1.4B to $1.8BMay 2, 2023 to Mar 13, 2024
- Individual RAUM · $1.7B to $2.0BMay 2, 2023 to Mar 13, 2024
Signals
15 dated events
- T•••• T••••• F•••• added a WY registration at E•• A•••••••Sep 16, 2026 · a•••••• state registration added · fact
- P•••••• J•• S••••••• left E•• A••••••• for A••••••• A•••••• G••••• L•• (registered 2013-11-04)Sep 10, 2026 · a•••••• firm change · fact
- B•••• T••••• L•••••• left E•• A••••••• for A••••••• A•••••• G••••• L•• (registered 2013-11-01)Sep 10, 2026 · a•••••• firm change · fact
- 2 advisors left E•• A••••••• (Brooklyn Park, MN) for A••••••• A•••••• G••••• L•• on the same daySep 10, 2026 · Team lift-out · derived
- R••• M••• Q•••• left E•• A••••••• for V•• C•••••• W••••• M••••••••• L•• (registered 2026-05-14)Apr 16, 2025 · a•••••• firm change · fact
- P••• A•••••• R••••• left E•• A••••••• for M•• I•••••••• S•••••••• L•• (registered 2025-04-04)Mar 17, 2025 · a•••••• firm change · fact
- J••••• R••• D••••• left E•• A••••••• for A••••••• A•••••• G••••• L•• (registered 2013-11-01)Aug 28, 2024 · a•••••• firm change · fact
- M•••••• W•••• M•••••••• left E•• A••••••• for G•••• V••••• A•••••• G••••• L•• (registered 2024-07-30)Aug 28, 2024 · a•••••• firm change · fact
- E•• A••••••• reported succeeding to the business of Another Adviser (Form ADV Item 4)Mar 13, 2024 · Succession (Item 4) · fact
- E•• A••••••• reported 24 offices beyond its principal office, down from 31 (2023-05-02 to 2024-03-13)Mar 13, 2024 · Office count change · derived
- Gregory Neil Lance (Cco) appeared on Schedule A of E•• A•••••••Mar 13, 2024 · Control person joined · fact
- M L••• S•••••• (Vice President) appeared on Schedule A of E•• A•••••••Mar 13, 2024 · Control person joined · fact
- Susan Dorothy Fuller (Coo) appeared on Schedule A of E•• A•••••••Mar 13, 2024 · Control person joined · fact
- T•••• L•• H••••••• left E•• A••••••• for E•••••• A••••••• G••••• L•• (registered 2023-02-27)Feb 20, 2023 · a•••••• firm change · fact
- E•• A••••••• reported 49 state-registered advisory representatives, up from 38 (2017-02-16 to 2018-03-29)Mar 29, 2018 · ria a•••••• headcount 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
- H•••S://WWW.LINKEDIN.COM/COMPANY/E••••••••-FINANCIAL-SERVICEreportedpublic record, Form ADV, Sep 18, 2026
- Website
- H•••••••••reportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 763-689-9023reportedpublic record, Form ADV, Mar 3, 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
- $46.2Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026