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
Vermillion Financial Advisors, Inc.
Latest filing Mar 27, 2026
First filing on the tape Mar 30, 2012 · 17 filings
SEC status approved since May 12, 2008
RAUM
$387M
reported, Item 5.F
Discretionary
0.0%
of RAUM
Private clients
93%
$360M individuals and HNW
Advisors
5
registered through the firm on IAPD
RAUM per advisor
$77.3M
derived; firm RAUM over IAPD count
Employees
10
5 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
17 filings and snapshots on the tape
RAUM$387M as of Mar 27, 2026
Mar 30, 2012$106M then
HNW client RAUM$301M as of Mar 27, 2026
Apr 2, 2018$94.5M then
State-registered IARs (5.B.3)5 as of Mar 27, 2026
Mar 30, 20120 then
Employees (5.A)10 as of Mar 27, 2026
Apr 1, 201313 then
Private funds: no history
RAUM +4.4% over the last fiscal year+13% a year over threeIARs 6 to 5offices 0 to 1
Practice profile
derived from the filing of Mar 27, 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
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- RAUM per advisor
- $77.3MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 53derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.9MderivedHNW RAUM over HNW clients
- Average account
- $378,788derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 0.0%derivedof RAUM
- Institutional
- 6.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.0derivedItem 5.A over advisors
- Advisors per office
- 2.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +4.4%derivedbetween the last two annual amendments
- Advisor growth, one year
- -17%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -1.5%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, publications, 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)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$301M78%
- Individuals$59.2M15%
- Pension and profit-sharing plans$18.4M4.8%
- Charitable organizations$8.1M2.1%
- Individual clients
- 162reported
- HNW clients
- 103reported
- Pension plan clients
- 11reported
- Charitable clients
- 3reported
- Accounts
- 1,021reported
- Financial planning clients
- 251-500reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.93 fund_share=0.0 institutional_share=0.07 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
5 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Mark Stephen LaspisaCertified Financial Planner | South Barrington, Il | Sep 20, 1997 | 38 y | 0 |
| Jeffrey James PearceCertified Financial Planner | South Barrington, Il | Sep 20, 1997 | 36 y | 0 |
| Phillip C CoadCertified Financial Planner | South Barrington, Il | Mar 31, 2011 | 20 y | 0 |
| John La SpisaCertified Financial Planner | South Barrington, Il | Oct 18, 2024 | 12 y | 0 |
| Jason Daniel DhoogheCertified Financial Planner | South Barrington, Il | Jul 31, 2025 | 15 y | 1 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount1 left over 36 months
Left, latest
- Robert Warren Hanson to Private Advisor Group, LLCApr 29, 2025 · RIA to affiliated broker-dealer or bank
- James Eugene Malinowski to Comprehensive Capital Management, Inc.Nov 19, 2008 · Other
Joined, latest
- Jason Daniel Dhooghe from Wealth Enhancement Advisory Services, LLCJul 31, 2025 · Affiliated broker-dealer or bank to independent RIA
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Anne Laura La Spisa · Secretary / Treasurercontrolsince 01/1999 · owns less than 5%
- Stephen Mark Laspisa · President, Managing Advisor, Chief Compliance Officercontrolsince 06/1997 · owns 75% or more
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| South Barrington, Il · principal | 5 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- low discretionary shareStatic outlier · filing Mar 27, 2026discretionary share of RAUM of 0% against a peer median of 100% (5676 comparable advisers, 0.0th percentile, 33.7 robust deviations)peers: independent wealth managers, $100M to $500M (5,676) · 0.0% percentile
What changed
consecutive filings, newest first
- Accounts · 1,087 to 1,021Mar 31, 2025 to Mar 27, 2026
- Advisory employees · 6 to 5Mar 31, 2025 to Mar 27, 2026
- Charity clients · 1 to 3Mar 31, 2025 to Mar 27, 2026
- HNW clients · 82 to 103Mar 31, 2025 to Mar 27, 2026
- Individual clients · 187 to 162Mar 31, 2025 to Mar 27, 2026
- Pension plan clients · 10 to 11Mar 31, 2025 to Mar 27, 2026
- Employees · 8 to 10Mar 31, 2025 to Mar 27, 2026
- State-registered IARs · 6 to 5Mar 31, 2025 to Mar 27, 2026
- Other offices · 0 to 1Mar 31, 2025 to Mar 27, 2026
- HNW RAUM · $257M to $301MMar 31, 2025 to Mar 27, 2026
- Individual RAUM · $89.4M to $59.2MMar 31, 2025 to Mar 27, 2026
- Non-discretionary RAUM · $370M to $387MMar 31, 2025 to Mar 27, 2026
- Pension RAUM · $20.5M to $18.4MMar 31, 2025 to Mar 27, 2026
- RAUM · $370M to $387MMar 31, 2025 to Mar 27, 2026
- Accounts · 1,163 to 1,087Mar 26, 2024 to Mar 31, 2025
- Advisory employees · 7 to 6Mar 26, 2024 to Mar 31, 2025
- HNW clients · 77 to 82Mar 26, 2024 to Mar 31, 2025
- Individual clients · 186 to 187Mar 26, 2024 to Mar 31, 2025
- Employees · 9 to 8Mar 26, 2024 to Mar 31, 2025
- Financial planning clients · 101-250 to 251-500Mar 26, 2024 to Mar 31, 2025
- State-registered IARs · 4 to 6Mar 26, 2024 to Mar 31, 2025
- HNW RAUM · $216M to $257MMar 26, 2024 to Mar 31, 2025
- Individual RAUM · $74.7M to $89.4MMar 26, 2024 to Mar 31, 2025
- Non-discretionary RAUM · $319M to $370MMar 26, 2024 to Mar 31, 2025
- Pension RAUM · $25.9M to $20.5MMar 26, 2024 to Mar 31, 2025
- RAUM · $319M to $370MMar 26, 2024 to Mar 31, 2025
- Accounts · 1,166 to 1,163Mar 30, 2023 to Mar 26, 2024
- Charity clients · unset to 1.0Mar 30, 2023 to Mar 26, 2024
- HNW clients · 74 to 77Mar 30, 2023 to Mar 26, 2024
- Individual clients · 198 to 186Mar 30, 2023 to Mar 26, 2024
- Pension plan clients · 13 to 10Mar 30, 2023 to Mar 26, 2024
- Employees · 10 to 9Mar 30, 2023 to Mar 26, 2024
- Financial planning clients · 51-100 to 101-250Mar 30, 2023 to Mar 26, 2024
- HNW RAUM · $175M to $216MMar 30, 2023 to Mar 26, 2024
- Individual RAUM · $68.5M to $74.7MMar 30, 2023 to Mar 26, 2024
- Non-discretionary RAUM · $265M to $319MMar 30, 2023 to Mar 26, 2024
- Pension RAUM · $21.6M to $25.9MMar 30, 2023 to Mar 26, 2024
- RAUM · $265M to $319MMar 30, 2023 to Mar 26, 2024
- Accounts · 765 to 1,166Apr 1, 2022 to Mar 30, 2023
- Advisory employees · 10 to 7Apr 1, 2022 to Mar 30, 2023
Signals
1 dated events
- Robert Warren Hanson left Vermillion Financial Advisors, Inc. for Private Advisor Group, Llc (registered 2025-06-04)Apr 29, 2025 · 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 phone
- 847-382-9999reportedpublished by the firm, firm site, Sep 17, 2026
- Firm profile
- linkedin.com/company/vermillion-financial-advisors/aboutreportedpublic record, Form ADV, Sep 17, 2026
- Website
- vermillionfinancial.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 847-382-9999reportedpublic record, Form ADV, Mar 27, 2026
- Contact form
- vermillionfinancial.com/contact-usreportedpublished by the firm, firm site, Sep 17, 2026
- Team page
- vermillionfinancial.com/team-membersreportedpublished by the firm, firm site, Sep 17, 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
- $77.3Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026