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
The Milwaukee Company
Wealth manager with institutional or fund businessThiensville, WisconsinCRD 123452SEC 801-62584websiteIAPD
Legal name Estate Counselors, LLC
Latest filing Mar 16, 2026
First filing on the tape Mar 9, 2012 · 33 filings
SEC status approved since Apr 29, 2004
RAUM
$1.3B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
36%
$489M individuals and HNW
Advisors
5
registered through the firm on IAPD
RAUM per advisor
$269M
derived; firm RAUM over IAPD count
Employees
7
4 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
33 filings and snapshots on the tape
RAUM$1.3B as of Mar 16, 2026
Mar 9, 2012$165M then
HNW client RAUM$484M as of Mar 16, 2026
Feb 7, 2018$596M then
State-registered IARs (5.B.3)4 as of Mar 16, 2026
Mar 9, 20120 then
Employees (5.A)7 as of Mar 16, 2026
Mar 7, 20133 then
Private funds: no history
RAUM +18% over the last fiscal year+13% a year over threeIARs 4 to 4
Practice profile
derived from the filing of Mar 16, 2026; every figure names its basis
Archetypes, each a printed rule
- Dual wealth and asset manager · private-client share 20 to 60 percent and fund or institutional share at least 30 percent
- RAUM per advisor
- $269MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 7derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $16.7MderivedHNW RAUM over HNW clients
- Average account
- $4.2MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.4derivedItem 5.A over advisors
- Advisors per office
- 2.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +18%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -2.6%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for investment companiesreportedItem 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Investment companies$730M54%
- High-net-worth individuals$484M36%
- Corporations and businesses$127M9.4%
- Individuals$4.3M0.3%
- Individual clients
- 8reported
- HNW clients
- 29reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 319reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.36 fund_share=0.54 institutional_share=0.0 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 |
|---|---|---|---|---|
| Andrew John Willms | Thiensville, Wi | Sep 16, 2004 | 22 y | 0 |
| Shrey Patel | Chicago, Il | May 10, 2018 | 9 y | 0 |
| Jacob A Willms | Mequon, Wi | Aug 29, 2022 | 12 y | 0 |
| Satyaki Mitra | Thiensville, Wi | Jun 12, 2023 | 10 y | 4 |
| Nathan James Kitowski | Thiensville, Wi | Aug 19, 2026 | 10 y | 0 |
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 headcount0 left over 36 months
Left, latest
- Garrett Michael Alabado to Churchill Management GroupJan 16, 2014 · Other
Joined, latest
- Satyaki Mitra from Osaic Fa, Inc.Jun 12, 2023 · Affiliated broker-dealer or bank to independent RIA
- Garrett Michael Alabado from Td Ameritrade Investment Management, LLCSep 10, 2012 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Satyaki Mitra · Ccocontrolsince 03/2024 · owns less than 5%
- John Andrew Willms · President And Ceocontrolsince 02/2002 · owns less than 5%
- John Andrew Willms · Trusteecontrolsince 01/2017 · owns F of Andrew J. And Linda S. Willms Trust
- A Jacob Willms · Trusteecontrolsince 01/2022 · owns F of Michael R. Willms Family Trust
- A Jacob Willms · Trusteecontrolsince 01/2022 · owns F of Jacob A. Willms Family Trust
- A Jacob Willms · Trusteecontrolsince 12/2021 · owns F of Emily M. Willms Family Trust
- Linda Willms · Trusteecontrolsince 01/2017 · owns F of Andrew J. And Linda S. Willms Trust
Entity owners
- Andrew J. And Linda S. Willms Trust · Ownerdirect · owns 10% to 25%
- Emily M. Willms Family Trust · Ownerdirect · owns 25% to 50%
- Jacob A. Willms Family Trust · Ownerdirect · owns 25% to 50%
- Michael R. Willms Family Trust · Ownerdirect · owns 25% to 50%
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 |
|---|---|---|---|---|---|
| Thiensville, Wi · principal | 5 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
ADV anomalies
4 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Mar 16, 2026WILLMS, ANDREW, JOHN (PRESIDENT AND CEO) left Schedule A between the filings of 2024-03-21 and 2026-03-16peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Mar 16, 2026WILLMS, LINDA (TRUSTEE) left Schedule A between the filings of 2024-03-21 and 2026-03-16peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Mar 16, 2026Willms, Jacob, A (TRUSTEE) left Schedule A between the filings of 2024-03-21 and 2026-03-16peers: independent wealth managers, $1B to $5B (1,360)
- custody status changedChange between filings · filing Mar 16, 2026custody of client assets (Item 9.A): yes on the filing of 2025-04-25, no on the filing of 2026-03-16peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Accounts · 318 to 319Apr 25, 2025 to Mar 16, 2026
- Corporate clients · 18 to 17Apr 25, 2025 to Mar 16, 2026
- Individual clients · 9 to 8Apr 25, 2025 to Mar 16, 2026
- Assets in custody · 71048325.0 to unsetApr 25, 2025 to Mar 16, 2026
- Custody of client assets · true to falseApr 25, 2025 to Mar 16, 2026
- Discretionary RAUM · $1.1B to $1.3BApr 25, 2025 to Mar 16, 2026
- HNW RAUM · $439M to $484MApr 25, 2025 to Mar 16, 2026
- Individual RAUM · $3.9M to $4.3MApr 25, 2025 to Mar 16, 2026
- RAUM · $1.1B to $1.3BApr 25, 2025 to Mar 16, 2026
- Financial planning clients · 1-10 to 1-10Mar 4, 2025 to Apr 25, 2025
- Accounts · 309 to 318Jul 24, 2024 to Mar 4, 2025
- Advisory employees · 7 to 4Jul 24, 2024 to Mar 4, 2025
- Assets in custody · $28.6M to $71.0MJul 24, 2024 to Mar 4, 2025
- Financial planning clients · unset to 1-10Jul 24, 2024 to Mar 4, 2025
- Discretionary RAUM · $1.1B to $1.1BJul 24, 2024 to Mar 4, 2025
- HNW RAUM · $391M to $439MJul 24, 2024 to Mar 4, 2025
- Individual RAUM · $2.9M to $3.9MJul 24, 2024 to Mar 4, 2025
- RAUM · $1.1B to $1.1BJul 24, 2024 to Mar 4, 2025
- Accounts · 308 to 309Mar 21, 2024 to May 3, 2024
- Corporate clients · 19 to 18Mar 21, 2024 to May 3, 2024
- Assets in custody · $62.3M to $28.6MMar 21, 2024 to May 3, 2024
- Discretionary RAUM · $1.1B to $1.1BMar 21, 2024 to May 3, 2024
- HNW RAUM · $827M to $391MMar 21, 2024 to May 3, 2024
- Individual RAUM · $5.5M to $2.9MMar 21, 2024 to May 3, 2024
- RAUM · $1.1B to $1.1BMar 21, 2024 to May 3, 2024
- Accounts · 275 to 308Nov 17, 2023 to Mar 21, 2024
- Advisory employees · 4 to 7Nov 17, 2023 to Mar 21, 2024
- HNW clients · 22 to 29Nov 17, 2023 to Mar 21, 2024
- Assets in custody · $40.8M to $62.3MNov 17, 2023 to Mar 21, 2024
- Employees · 6 to 7Nov 17, 2023 to Mar 21, 2024
- Discretionary RAUM · $1.0B to $1.1BNov 17, 2023 to Mar 21, 2024
- HNW RAUM · $788M to $827MNov 17, 2023 to Mar 21, 2024
- Individual RAUM · $5.5M to $5.5MNov 17, 2023 to Mar 21, 2024
- RAUM · $1.0B to $1.1BNov 17, 2023 to Mar 21, 2024
- Accounts · 233 to 275Mar 24, 2023 to Nov 17, 2023
- Advisory employees · 7 to 4Mar 24, 2023 to Nov 17, 2023
- Advisory activities · 1 to 2Mar 24, 2023 to Nov 17, 2023
- Employees · 7 to 6Mar 24, 2023 to Nov 17, 2023
- Discretionary RAUM · $936M to $1.0BMar 24, 2023 to Nov 17, 2023
- HNW RAUM · $699M to $788MMar 24, 2023 to Nov 17, 2023
Signals
6 dated events
- Satyaki Mitra (Cco) appeared on Schedule A of The Milwaukee CompanyMar 21, 2024 · Control person joined · fact
- A Jacob Willms (Trustee) appeared on Schedule A of The Milwaukee CompanyMar 31, 2022 · Control person joined · fact
- John Michael Willms (Chief Compliance Officer) no longer on Schedule A of The Milwaukee Company (listed 2021-03-27, absent 2021-08-25)Aug 25, 2021 · Control person left · inference
- John Michael Willms (Chief Compliance Officer) appeared on Schedule A of The Milwaukee CompanyOct 26, 2020 · Control person joined · fact
- The Milwaukee Company reported RAUM $822.3M, up 29% from $638.6M (2019-03-15 to 2020-03-24)Mar 24, 2020 · RAUM change · derived
- Laura Zakrajsheck (Chief Compliance Officer) no longer on Schedule A of The Milwaukee Company (listed 2018-08-15, absent 2019-03-15)Mar 15, 2019 · Control person left · inference
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/THE-MILWAUKEE-COMPANYreportedpublic record, Form ADV, Sep 17, 2026
- Firm profile
- linkedin.com/company/the-brinsmere-fundsreportedpublic record, Form ADV, Sep 17, 2026
- Website
- tmcresearch.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 262-238-6980reportedpublic record, Form ADV, Mar 16, 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
- Wealth manager with institutional or fund businessderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $269Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026