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
Pathway Financial Advisors, LLC
Latest filing Jul 31, 2026
First filing on the tape Mar 9, 2012 · 38 filings
SEC status approved since Aug 15, 2005
RAUM
$1.6B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
88%
$1.4B individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$275M
derived; firm RAUM over IAPD count
Employees
11
7 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
38 filings and snapshots on the tape
RAUM$1.6B as of Jul 31, 2026
Mar 9, 2012$136M then
HNW client RAUM$1.4B as of Jul 31, 2026
Mar 26, 2018$485M then
State-registered IARs (5.B.3)6 as of Jul 31, 2026
Mar 9, 20120 then
Employees (5.A)11 as of Jul 31, 2026
Mar 22, 20134 then
Private funds: no history
RAUM +84% over the last fiscal year+36% a year over threeIARs 5 to 6
Practice profile
derived from the filing of Jul 31, 2026; every figure names its basis
- RAUM per advisor
- $275MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 42derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $7.1MderivedHNW RAUM over HNW clients
- Average account
- $1.4MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 12%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.8derivedItem 5.A over advisors
- Advisors per office
- 3.0derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +84%derivedbetween the last two annual amendments
- Advisor growth, one year
- +20%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +5.0%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, otherreportedItem 5.G
- Custody
- $29.4M, 21 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
- 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)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$1.4B86%
- Pension and profit-sharing plans$200M12%
- Individuals$30.8M1.9%
- Individual clients
- 53reported
- HNW clients
- 200reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 1,147reported
- Financial planning clients
- 251-500reported
- Wrap fee programs
- noreported
- Custody of client assets
- $29.4M for 21 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.88 fund_share=0.0 institutional_share=0.12 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
6 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Scott Anthony BeaudinCertified Financial Planner, Personal Financial Specialist | South Burlington, Vt | Sep 26, 2003 | 24 y | 0 |
| Darren James BeckCertified Financial Planner | South Burlington, Vt | May 1, 2008 | 28 y | 0 |
| Mary Beth BrighamCertified Financial Planner | South Burlington, Vt | Dec 4, 2015 | 19 y | 0 |
| Jonathan Jenness SmithCertified Financial Planner | South Burlington, Vt | Feb 20, 2018 | 21 y | 2 |
| Michael Jonathan SchellCertified Financial Planner | South Burlington, Vt | Feb 18, 2022 | 10 y | 2 |
| Jordan Victor MacdougallCertified Financial Planner | South Burlington, Vt | Apr 30, 2025 | 12 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
- Lori Beth Lustberg to Third Eye Associates, LtdApr 3, 2023 · RIA to a state-registered adviser
- Rebecca K Walsh to Oak Maple Finance, LLCOct 31, 2022 · RIA to a state-registered adviser
- Anthony Benton Hemmelgarn to Commonwealth Financial NetworkMar 5, 2018 · Other
- Timothy Winfield Harvey to Brownson, Rehmus & FoxworthAug 8, 2016 · Other
Joined, latest
- Michael Jonathan Schell from Sensible Financial ManagementFeb 18, 2022 · Other
- Jonathan Jenness Smith from Empower Advisory Group, LLCFeb 20, 2018 · Other
- Anthony Benton Hemmelgarn from Camino Wealth Advisors, LLCMar 27, 2015 · Other
- Timothy Winfield Harvey from Tower Square Securities, Inc.Jul 9, 2013 · Other
- Rebecca K Walsh from Walsh Financial Planning, LLCSep 2, 2009 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Anthony Scott Beaudin · Manager (1/2018) & Chief Compliance Officercontrolsince 05/2003 · owns 75% or more
- Jenness Jonathan Smith · Membersince 01/2024 · owns 10% to 25%
Related persons
Schedule D 7.A
- Scott Beaudin, Cpainsurancey
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| South Burlington, Vt · principal | 6 | 0 | 0 | ||
| Atlanta, Ga | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Atlanta, GA1 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- RAUM up clients flatCombination · filing Mar 13, 2026RAUM grew 50 percent or more while private clients stayed within 5 percent: existing clients grew, a few large clients arrived, or a reporting change. RAUM $894,825,875 to $1,649,189,273, advisors 5 to 6, private clients 241 to 253, offices 1 to 1 (2025-03-19 to 2026-03-13)peers: independent wealth managers, $1B to $5B (1,360)
- RAUM up 50 %Change between filings · filing Mar 13, 2026RAUM (Item 5.F) moved from $894,825,875 to $1,649,189,273 (+84.0%) between the annual amendments of 2025-03-19 and 2026-03-13; the peer median change was +17.0% (1297 comparable advisers, 97.0th percentile of changes)peers: independent wealth managers, $1B to $5B (1,297) · 97% percentile
What changed
consecutive filings, newest first
- Accounts · 955 to 1,147Oct 6, 2025 to Mar 13, 2026
- Advisory employees · 5 to 7Oct 6, 2025 to Mar 13, 2026
- HNW clients · 149 to 200Oct 6, 2025 to Mar 13, 2026
- Individual clients · 92 to 53Oct 6, 2025 to Mar 13, 2026
- Assets in custody · $364M to $29.4MOct 6, 2025 to Mar 13, 2026
- Financial planning clients · 101-250 to 251-500Oct 6, 2025 to Mar 13, 2026
- State-registered IARs · 5 to 6Oct 6, 2025 to Mar 13, 2026
- Discretionary RAUM · $895M to $1.6BOct 6, 2025 to Mar 13, 2026
- HNW RAUM · $816M to $1.4BOct 6, 2025 to Mar 13, 2026
- Individual RAUM · $41.3M to $30.8MOct 6, 2025 to Mar 13, 2026
- Pension RAUM · $37.1M to $200MOct 6, 2025 to Mar 13, 2026
- RAUM · $895M to $1.6BOct 6, 2025 to Mar 13, 2026
- Accounts · 912 to 955Mar 23, 2024 to Mar 19, 2025
- HNW clients · 132 to 149Mar 23, 2024 to Mar 19, 2025
- Individual clients · 68 to 92Mar 23, 2024 to Mar 19, 2025
- Assets in custody · $510M to $364MMar 23, 2024 to Mar 19, 2025
- Financial planning clients · 101-250 to 101-250Mar 23, 2024 to Mar 19, 2025
- Discretionary RAUM · $783M to $895MMar 23, 2024 to Mar 19, 2025
- HNW RAUM · $714M to $816MMar 23, 2024 to Mar 19, 2025
- Individual RAUM · $36.3M to $41.3MMar 23, 2024 to Mar 19, 2025
- Pension RAUM · $32.5M to $37.1MMar 23, 2024 to Mar 19, 2025
- RAUM · $783M to $895MMar 23, 2024 to Mar 19, 2025
- Accounts · 830 to 912Aug 25, 2023 to Mar 22, 2024
- Advisory employees · 6 to 5Aug 25, 2023 to Mar 22, 2024
- HNW clients · 70 to 132Aug 25, 2023 to Mar 22, 2024
- Individual clients · 125 to 68Aug 25, 2023 to Mar 22, 2024
- Assets in custody · $326M to $510MAug 25, 2023 to Mar 22, 2024
- Employees · 13 to 11Aug 25, 2023 to Mar 22, 2024
- State-registered IARs · 6 to 5Aug 25, 2023 to Mar 22, 2024
- Discretionary RAUM · $656M to $783MAug 25, 2023 to Mar 22, 2024
- HNW RAUM · $38.8M to $714MAug 25, 2023 to Mar 22, 2024
- Individual RAUM · $615M to $36.3MAug 25, 2023 to Mar 22, 2024
- Pension RAUM · $1.2M to $32.5MAug 25, 2023 to Mar 22, 2024
- RAUM · $656M to $783MAug 25, 2023 to Mar 22, 2024
- Accounts · 914 to 830Dec 9, 2022 to Mar 29, 2023
- Advisory employees · 7 to 6Dec 9, 2022 to Mar 29, 2023
- HNW clients · 145 to 70Dec 9, 2022 to Mar 29, 2023
- Individual clients · 97 to 125Dec 9, 2022 to Mar 29, 2023
- State-registered IARs · 7 to 6Dec 9, 2022 to Mar 29, 2023
- Discretionary RAUM · $767M to $656MDec 9, 2022 to Mar 29, 2023
Signals
4 dated events
- Pathway Financial Advisors, Llc reported RAUM $1.6B, up 84% from $894.8M (2025-10-06 to 2026-03-13)Mar 13, 2026 · RAUM change · derived
- Lori Beth Lustberg left Pathway Financial Advisors, Llc for Third Eye Associates, Ltd (registered 2023-04-28)Apr 3, 2023 · Advisor changed firm · fact
- Rebecca K Walsh left Pathway Financial Advisors, Llc for Oak Maple Finance, Llc (registered 2022-09-27)Oct 31, 2022 · Advisor changed firm · fact
- Pathway Financial Advisors, Llc reported RAUM $534.6M, up 44% from $371.7M (2017-12-01 to 2018-03-26)Mar 26, 2018 · RAUM 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
- Business phone
- 404-812-4979reportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 802-660-7086reportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 866-317-9090reportedpublished by the firm, firm site, Sep 17, 2026
- Firm profile
- linkedin.com/company/15932024reportedpublic record, Form ADV, Sep 17, 2026
- Website
- PATHWAYADVISORS.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 802-660-7086reportedpublic record, Form ADV, Jul 31, 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
- $275Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026