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

Focus Financial

Independent wealth managerMinneapolis, MinnesotaCRD 116140SEC 801-71117websiteIAPD
Legal name Focus Financial Network, Inc.
Latest filing Aug 26, 2026
First filing on the tape Mar 7, 2012 · 63 filings
SEC status approved since Mar 2, 2010
RAUM
$6.8B
reported, Item 5.F
Discretionary
96%
of RAUM
Private clients
98%
$6.7B individuals and HNW
Advisors
121
registered through the firm on IAPD
RAUM per advisor
$56.4M
derived; firm RAUM over IAPD count
Employees
189
114 advisory (5.B.1)
Offices
36
beyond the principal office
Private funds
0
reported on Schedule D
History
63 filings and snapshots on the tape
RAUM$6.8B as of Aug 26, 2026
Mar 12, 2012$1.1B then
HNW client RAUM$3.9B as of Aug 26, 2026
Apr 2, 2018$1.1B then
State-registered IARs (5.B.3)119 as of Aug 26, 2026
Mar 12, 20120 then
Employees (5.A)189 as of Aug 26, 2026
Mar 6, 2013111 then
Private funds: no history
RAUM +9.0% over the last fiscal year+15% a year over threeIARs 121 to 119offices 40 to 36
Practice profile
derived from the filing of Aug 26, 2026; 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
  • Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
RAUM per advisor
$56.4MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
112derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.3MderivedHNW RAUM over HNW clients
Average account
$248,046derivedRAUM over accounts (5.F.2.f)
Discretionary
96%derivedof RAUM
Institutional
0.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.6derivedItem 5.A over advisors
Advisors per office
3.3derived37 offices incl. principal (1.F.5)
RAUM growth, one year
+9.0%derivedbetween the last two annual amendments
Advisor growth, one year
-1.7%derivedItem 5.B.3 between annual amendments
Client growth, one year
-2.5%derived
Compensation
percentage of assets, hourly, fixed fees, otherreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisers, educational seminarsreportedItem 5.G
Wrap fee program
participatesreportedItem 5.I
Custody
$2.1B, 3,632 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)
  • 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)
  • 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$3.9B57%
  • Individuals$2.8B42%
  • Corporations and businesses$68.0M1.0%
  • Pension and profit-sharing plans$52.7M0.8%
  • Charitable organizations$2.0M0.0%
Individual clients
11,863reported
HNW clients
1,697reported
Pension plan clients
33reported
Charitable clients
3reported
Accounts
27,510reported
Financial planning clients
101-250reported
Wrap fee programs
$0 sponsored, $219M managedreported
Custody of client assets
$2.1B for 3,632 clientsreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.98 fund_share=0.0 institutional_share=0.01 related_bd=false related_bank=false bd_reps=124.0derived
Advisors registered through the firm
121 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Darin Philip GlanzerCertified Financial PlannerBrandon, SdFeb 25, 200528 y1
John Gregory BinaFrankfort, Il Mar 28, 200532 y0
John Patrick LaytonCertified Financial PlannerMinneapolis, MnAug 24, 200544 y0
William Robert BergstromMinneapolis, MnAug 27, 200542 y0
Debra Marie KuperCertified Financial PlannerWoodbury, MnJun 28, 200638 y0
Michael Lynn JacobsonMinneapolis, MnJan 28, 200834 y0
Frank VallorosiCortlandt Manor, Ny Dec 15, 200927 y0
Richard Arthur HornungMinneapolis, MnJan 25, 201033 y0
David Kenneth HeitkampCertified Financial PlannerMinneapolis, Mn Feb 1, 201042 y0
Joel Curtis SchrimpfChartered Financial AnalystMinneapolis, MnFeb 16, 201022 y0
Frank Matteo GrisetaElk Grove Village, IlMar 9, 201021 y3
Michael Lloyd GustafsonCertified Financial PlannerMinneapolis, MnJan 20, 201134 y0
David Alexander PrattCertified Financial PlannerEdina, MnJan 28, 201143 y0
Gregory George BrownCertified Financial PlannerWausau, Wi Feb 15, 201135 y2
Michael F PielWausau, Wi Feb 15, 201140 y1
Walter Edward PickupBurnsville, MnJul 12, 201234 y0
Laura Lynn BasballeBurnsville, MnDec 9, 201336 y0
Paul Albert GiannobileMinnetonka, Mn Dec 9, 201336 y0
Carl James ArrellCertified Financial Planner, Chartered Financial AnalystMinneapolis, MnDec 9, 201321 y2
James T. DonnellyMinneapolis, MnDec 9, 201328 y1
Charles Albert AndersonMinneapolis, MnDec 9, 201327 y0
Kenneth James EdwardsCertified Financial PlannerBloomington, MnDec 9, 201332 y0
John Harris DritzMinneapolis, MnDec 9, 201331 y0
Josue Javier CastilloMinneapolis, Mn Dec 9, 201334 y0
David William BeisslerCertified Financial PlannerWoodbury, MnDec 9, 201326 y0
Michael Patrick BranchMinneapolis, MnDec 9, 201333 y0
Sonya Marie HansmeyerMinneapolis, MnDec 10, 201327 y0
William Charles HaiderMinneapolis, MnDec 10, 201324 y0
David Clarence HynesMinneapolis, Mn Dec 10, 201333 y0
Michael Joseph HuerbinBemidji, MnDec 10, 201327 y0
David Charles HoelkeCertified Financial PlannerBurnsville, Mn Dec 10, 201330 y0
Michael James HochstetlerMinneapolis, MnDec 10, 201327 y1
Brad McmurrayCertified Financial PlannerMinneapolis, MnDec 16, 201334 y1
Elissa Marie LarsonWoodbury, MnDec 16, 201316 y0
John Peter O'KeefeMinneapolis, MnDec 16, 201321 y0
Barbara Whitson KirbyCertified Financial Planner, Chartered Financial ConsultantMinneapolis, MnDec 16, 201343 y0
Rhonda Marie KerkhoffRedwood Falls, MnDec 16, 201322 y1
Robert Scott SandisonMinneapolis, MnDec 17, 201342 y0
Chad David PrattEdina, MnDec 17, 201325 y0
Patrick Ray OsmonsonBloomington, MnDec 17, 201334 y0
All 121 advisors at Focus Financial
Advisor movement
2 left, 2 joined in 12 months
net 0 in 12 months1 left in 90 days1 joined in 90 daysdeparture rate 1.7% of current headcount23 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
  • William David Beissler · Shareholder:Directorcontrol
    since 01/2025 · owns 10% to 25%
  • Gregory John Bina · Presidentcontrol
    since 05/2006 · owns less than 5%
  • Christina Chaconas · Vp Operationscontrol
    since 09/2024 · owns less than 5%
  • Alfred Evan Chang · Chief Compliance Officercontrol
    since 05/2025 · owns less than 5%
  • Harris John Dritz · Shareholder:Director:Treasurercontrol
    since 05/2006 · owns less than 5%
  • Elise Stephanie Hartmann · Chief Compliance Officercontrol
    since 05/2023 · owns less than 5%
  • Kenneth David Heitkamp · Shareholder:Directorcontrol
    since 05/2006 · owns 10% to 25%
  • Patrick John Layton · Shareholder:Directorcontrol
    since 05/2006 · owns 10% to 25%
  • David Matthew Nelson · Shareholder:Directorcontrol
    since 03/2019 · owns 5% to 10%
  • Edward Walter Pickup · Shareholder:Directorcontrol
    since 01/2025 · owns 10% to 25%
  • Kyle John Watkins · Shareholder:Directorcontrol
    since 05/2006 · owns 10% to 25%
  • Robert William Bergstrom · Shareholder:Director
    since 05/2006 · owns 10% to 25%
  • Scott Michael Dales · Shareholder
    since 01/2025 · owns 5% to 10%
Related persons
Schedule D 7.A
  • Barbara Moser
    insurancey
  • Connie Heier
    insurancey
  • Kenneth Edwards
    insurancey
  • Patrick Osmonson
    insurancey
  • Zachary Martin
    insurancey
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Minneapolis, Mn · principal89921
Bloomington, Mn1200
Wausau, Wi910
Woodbury, Mn810
Burnsville, Mn300
Waconia, Mn210
Alexandria, Mn200
Edina, Mn200
Forest Lake, Mn200
Lisle, Il200
St Louis Park, Mn200
Minnetonka, Mn000
West Fargo, Nd000
Little Falls, Mn000
Harrodsburg, Ky000
Offices
Schedule D 1.F, the 25 largest
  • Minneapolis, MN42 employees
  • Wausau, WI10 employees
  • Woodbury, MN8 employees
  • Minneapolis, MN8 employees
  • Burnsville, MN7 employees
  • Minneapolis, MN6 employees
  • North Branch, MN5 employees
  • Alexandria, MN5 employees
  • St. Charles, MN4 employees
  • Lisle, IL4 employees
  • Burnsville, MN3 employees
  • Winona, MN3 employees
  • Waconia, MN3 employees
  • Frankfort, IL3 employees
  • , 3 employees
  • Bemidji, MN3 employees
  • Minneapolis, MN3 employees
  • North Branch, MN2 employees
  • Bloomington, MN2 employees
  • , 2 employees
  • Woodbury, MN2 employees
  • Bloomington, MN2 employees
  • Edina, MN2 employees
  • Elk Grove, IL1 employees
  • Fosston, MN1 employees
ADV anomalies
4 against comparable advisers; where to look, not conclusions
  • control person changedChange between filings · filing Aug 26, 2026
    CHANG, EVAN, ALFRED (CHIEF COMPLIANCE OFFICER) appeared on Schedule A between the filings of 2024-10-16 and 2026-08-26
    peers: independent wealth managers, $5B to $20B (289)
  • control person changedChange between filings · filing Aug 26, 2026
    DRITZ, JOHN, HARRIS (SHAREHOLDER:DIRECTOR:TREASURER) left Schedule A between the filings of 2024-10-16 and 2026-08-26
    peers: independent wealth managers, $5B to $20B (289)
  • control person changedChange between filings · filing Aug 26, 2026
    HARTMANN, STEPHANIE, ELISE (CHIEF COMPLIANCE OFFICER) left Schedule A between the filings of 2024-10-16 and 2026-08-26
    peers: independent wealth managers, $5B to $20B (289)
  • control person changedChange between filings · filing Aug 26, 2026
    NELSON, MATTHEW, DAVID (SHAREHOLDER:DIRECTOR) left Schedule A between the filings of 2024-10-16 and 2026-08-26
    peers: independent wealth managers, $5B to $20B (289)
What changed
consecutive filings, newest first
  • Other offices · 35 to 36
    Mar 26, 2026 to Aug 26, 2026
  • Accounts · 26,057 to 27,510
    Jul 21, 2025 to Mar 26, 2026
  • Advisory employees · 118 to 114
    Jul 21, 2025 to Mar 26, 2026
  • Advisory activities · 5 to 6
    Jul 21, 2025 to Mar 26, 2026
  • BD registered reps · 122 to 124
    Jul 21, 2025 to Mar 26, 2026
  • Corporate clients · 84 to 88
    Jul 21, 2025 to Mar 26, 2026
  • HNW clients · 1,270 to 1,697
    Jul 21, 2025 to Mar 26, 2026
  • Individual clients · 12,634 to 11,863
    Jul 21, 2025 to Mar 26, 2026
  • Pension plan clients · 36 to 33
    Jul 21, 2025 to Mar 26, 2026
  • Assets in custody · $7.3M to $2.1B
    Jul 21, 2025 to Mar 26, 2026
  • Employees · 172 to 189
    Jul 21, 2025 to Mar 26, 2026
  • State-registered IARs · 121 to 119
    Jul 21, 2025 to Mar 26, 2026
  • Other offices · 40 to 35
    Jul 21, 2025 to Mar 26, 2026
  • Discretionary RAUM · $5.9B to $6.6B
    Jul 21, 2025 to Mar 26, 2026
  • HNW RAUM · $3.1B to $3.9B
    Jul 21, 2025 to Mar 26, 2026
  • Individual RAUM · $3.1B to $2.8B
    Jul 21, 2025 to Mar 26, 2026
  • Non-discretionary RAUM · $366M to $250M
    Jul 21, 2025 to Mar 26, 2026
  • Pension RAUM · $45.1M to $52.7M
    Jul 21, 2025 to Mar 26, 2026
  • RAUM · $6.3B to $6.8B
    Jul 21, 2025 to Mar 26, 2026
  • Related adviser · false to true
    Jul 21, 2025 to Mar 26, 2026
  • Wrap assets (manager) · $198M to $219M
    Jul 21, 2025 to Mar 26, 2026
  • Financial planning clients · 101-250 to 101-250
    May 23, 2025 to Jul 21, 2025
  • Accounts · 25,365 to 26,057
    Feb 5, 2025 to Mar 31, 2025
  • Advisory employees · 121 to 118
    Feb 5, 2025 to Mar 31, 2025
  • BD registered reps · 124 to 122
    Feb 5, 2025 to Mar 31, 2025
  • Corporate clients · 80 to 84
    Feb 5, 2025 to Mar 31, 2025
  • HNW clients · 1,201 to 1,270
    Feb 5, 2025 to Mar 31, 2025
  • Individual clients · 12,459 to 12,634
    Feb 5, 2025 to Mar 31, 2025
  • Pension plan clients · 119 to 36
    Feb 5, 2025 to Mar 31, 2025
  • Assets in custody · $377M to $7.3M
    Feb 5, 2025 to Mar 31, 2025
  • Employees · 167 to 172
    Feb 5, 2025 to Mar 31, 2025
  • Insurance-licensed employees · 3 to 5
    Feb 5, 2025 to Mar 31, 2025
  • Discretionary RAUM · $5.1B to $5.9B
    Feb 5, 2025 to Mar 31, 2025
  • HNW RAUM · $2.5B to $3.1B
    Feb 5, 2025 to Mar 31, 2025
  • Individual RAUM · $2.8B to $3.1B
    Feb 5, 2025 to Mar 31, 2025
  • Non-discretionary RAUM · $336M to $366M
    Feb 5, 2025 to Mar 31, 2025
  • Pension RAUM · $36.6M to $45.1M
    Feb 5, 2025 to Mar 31, 2025
  • RAUM · $5.4B to $6.3B
    Feb 5, 2025 to Mar 31, 2025
  • Wrap assets (manager) · $199M to $198M
    Feb 5, 2025 to Mar 31, 2025
  • Assets in custody · $3.7M to $377M
    Mar 28, 2024 to Mar 29, 2024
Signals
48 dated events
  • Matthew Louis Mattheisen left Focus Financial for Gambit Capital Management, Llc (registered 2026-07-31)
    Aug 3, 2026 · Advisor changed firm · fact
  • Focus Financial reported 35 offices beyond its principal office, down from 40 (2025-07-21 to 2026-03-26)
    Mar 26, 2026 · Office count change · derived
  • Daniel Lee Sigurdson left Focus Financial for Strategic Wealth Group (registered 2025-10-01)
    Oct 2, 2025 · Advisor changed firm · fact
  • Jacob John Larue left Focus Financial for Savvy (registered 2025-06-17)
    Jun 16, 2025 · Advisor changed firm · fact
  • 3 advisors left Focus Financial (Minneapolis, MN) for Savvy on the same day
    Jun 16, 2025 · Team lift-out · derived
  • Matthew Jon Finley left Focus Financial for Savvy (registered 2025-07-17)
    Jun 16, 2025 · Advisor changed firm · fact
  • Grace Hennen left Focus Financial for Savvy (registered 2025-06-17)
    Jun 16, 2025 · Advisor changed firm · fact
  • Karissa Ann Mclaren left Focus Financial for Savvy (registered 2025-06-17)
    Jun 16, 2025 · Advisor changed firm · fact
  • Matthew David Nelson left Focus Financial for Osaic Wealth, Inc. (registered 2014-01-13)
    Jun 16, 2025 · Advisor changed firm · fact
  • Barbara Jean Webster left Focus Financial for Lpl Financial Llc (registered 2025-10-06)
    May 6, 2025 · Advisor changed firm · fact
  • Jacob Brant Fleming no longer registered at Focus Financial; no later IA registration on IAPD
    Feb 28, 2025 · Advisor departure · fact
  • Jed Andrew Lund no longer registered at Focus Financial; no later IA registration on IAPD
    Oct 17, 2024 · Advisor departure · fact
  • Christina Chaconas (Vp Operations) appeared on Schedule A of Focus Financial
    Oct 16, 2024 · Control person joined · fact
  • Steven Scott Haagenson left Focus Financial for Osaic Wealth, Inc. (registered 2022-11-03)
    May 2, 2024 · Advisor changed firm · fact
  • Andrew Koetter left Focus Financial for Osaic Wealth, Inc. (registered 2021-08-23)
    May 2, 2024 · Advisor changed firm · fact
  • Michael John Wochnick left Focus Financial for Lpl Financial Llc (registered 2024-04-15)
    May 2, 2024 · Advisor changed firm · fact
  • Jacob Brant Fleming left Focus Financial for Osaic Wealth, Inc. (registered 2024-02-20)
    May 2, 2024 · Advisor changed firm · fact
  • 5 advisors left Focus Financial (Minneapolis, MN) for Osaic Wealth, Inc. on the same day
    May 2, 2024 · Team lift-out · derived
  • Peter Haagenson left Focus Financial for Osaic Wealth, Inc. (registered 2024-02-15)
    May 2, 2024 · Advisor changed firm · fact
  • 2 advisors left Focus Financial (Little Falls, MN) for LPL Financial LLC on the same day
    May 2, 2024 · Team lift-out · derived
  • Jed Andrew Lund left Focus Financial for Osaic Wealth, Inc. (registered 2024-02-28)
    May 2, 2024 · Advisor changed firm · fact
  • Alicia Kapus left Focus Financial for Lpl Financial Llc (registered 2024-04-15)
    May 2, 2024 · Advisor changed firm · fact
  • James Manning Hannigan left Focus Financial for Lpl Financial Llc (registered 2024-03-28)
    Apr 1, 2024 · Advisor changed firm · fact
  • 2 advisors left Focus Financial (Minneapolis, MN) for LPL Financial LLC on the same day
    Apr 1, 2024 · Team lift-out · derived
  • Stephen Lee Papineau left Focus Financial for Lpl Financial Llc (registered 2024-03-28)
    Apr 1, 2024 · Advisor changed firm · fact
  • Carrie Lynn Anton left Focus Financial for Osaic Wealth, Inc. (registered 2024-03-01)
    Mar 1, 2024 · Advisor changed firm · fact
  • Timofey Matveyevich Drozdov left Focus Financial for Mariner (registered 2024-03-07)
    Feb 22, 2024 · Advisor changed firm · fact
  • Brian James Connelly left Focus Financial for Securities America Advisors, Inc. (registered 2023-12-15)
    Dec 21, 2023 · Advisor changed firm · fact
  • 2 advisors left Focus Financial (ST Louis Park, MN) for Redhawk Wealth Advisors, Inc. on the same day
    Oct 3, 2023 · Team lift-out · derived
  • Timothy Ronald Evon left Focus Financial for Redhawk Wealth Advisors, Inc. (registered 2023-10-02)
    Oct 3, 2023 · 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
Business email
jsaba@focusfinancial.comreportedpublished by the firm, firm site, Sep 15, 2026
Business phone
651-631-1139reportedpublished by the firm, firm site, Sep 15, 2026
Business phone
651-631-8166reportedpublished by the firm, firm site, Sep 15, 2026
Business phone
888-631-8166reportedpublished by the firm, firm site, Sep 15, 2026
Firm profile
linkedin.com/company/focus-financial-network-inc-reportedpublic record, Form ADV, Sep 18, 2026
Website
FOCUSFINANCIAL.COMreportedpublic record, Form ADV, Sep 18, 2026
Principal office phone
651-631-8166reportedpublic record, Form ADV, Aug 26, 2026
Contact form
focusfinancial.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
Team page
focusfinancial.com/about-us/leadershipreportedpublished 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
$56.4Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026