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

Kcd Financial, Inc.

Independent wealth managerGreen Bay, WisconsinCRD 127473SEC 801-110069websiteIAPD
Latest filing Aug 11, 2026
First filing on the tape Feb 22, 2017 · 68 filings
SEC status approved since Mar 16, 2017
RAUM
$202M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$202M individuals and HNW
Advisors
38
registered through the firm on IAPD
RAUM per advisor
$5.3M
derived; firm RAUM over IAPD count
Employees
29
27 advisory (5.B.1)
Offices
17
beyond the principal office
Private funds
0
reported on Schedule D
History
68 filings and snapshots on the tape
RAUM$202M as of Aug 11, 2026
Mar 31, 2017$33.0M then
HNW client RAUM$64.0M as of Aug 11, 2026
Mar 25, 2019$26.5M then
State-registered IARs (5.B.3)27 as of Aug 11, 2026
Mar 31, 201721 then
Employees (5.A)29 as of Aug 11, 2026
Mar 31, 201744 then
Private funds: no history
RAUM +11% over the last fiscal year+18% a year over threeIARs 27 to 27
Practice profile
derived from the filing of Aug 11, 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)
  • Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
RAUM per advisor
$5.3MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
33derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.9MderivedHNW RAUM over HNW clients
Average account
$160,518derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.8derivedItem 5.A over advisors
Advisors per office
2.1derived18 offices incl. principal (1.F.5)
RAUM growth, one year
+11%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+9.8%derived
Compensation
percentage of assets, hourly, fixed fees, otherreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, selection of other advisersreportedItem 5.G
Ownership
controlled by a public reporting companyderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • is a broker-dealer (6.A.1)
  • is an insurance broker or agent (6.A.6)
  • controlled by a public reporting company (10.A)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$138M68%
  • High-net-worth individuals$64.0M32%
Individual clients
1,235reported
HNW clients
22reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
1,259reported
Financial planning clients
51-100reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=24.0derived
Advisors registered through the firm
38 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Timothy William SteffenChartered Financial ConsultantBowler, Wi Jul 16, 200437 y1
Thomas Edward ColemanBrookfield, Wi Jul 23, 200436 y0
Christopher Charles FessChartered Financial ConsultantFrisco, Tx Aug 31, 200635 y1
Daniel L. RustGreen Bay, Wi Jul 10, 200726 y2
Douglass Joseph BurgdorfCertified Financial PlannerGreen Bay, Wi Jan 26, 201027 y0
Joel Reid BlumenscheinGreen Bay, Wi May 19, 201041 y1
Maria Patricia TiptonGreen Bay, Wi Nov 26, 201234 y2
David Scott WilsonGreen Bay, Wi Jan 2, 201336 y2
David Jon BernardeGreen Bay, Wi Mar 12, 201339 y0
Seth Howard SchwartzGreen Bay, Wi May 9, 201730 y8
Ronald Edward MachtanMinnetonka, Mn Oct 6, 201743 y0
Jennifer Ann ShammamyCertified Financial PlannerBingham Farms, Mi Jan 16, 201815 y1
Edwin Ambrose DayBellevue, Wa Dec 27, 201856 y3
Noah Christopher FessGreen Bay, Wi Jan 24, 201910 y0
Robert Luis RiveraGreen Bay, Wi Feb 14, 201926 y3
Jonathan Cory GimperlingCertified Financial PlannerGreen Bay, Wi Jan 2, 202028 y2
Stephen DuhrGreen Bay, Wi Mar 10, 202029 y3
Lawrence Charles SkiboNaperville, Il Sep 2, 202024 y1
Natasha Lee MarakowskiGreen Bay, Wi Jan 27, 202111 y1
William Talbert BringhamGlenview, Il Jun 10, 202134 y0
Corrie Kevin BordePalm Bay, Fl Apr 25, 202224 y0
Nicholas Wayne SowersWest Palm Beach, Fl Aug 10, 202210 y1
Roy Alvin WilliamsGreen Bay, Wi Aug 23, 202326 y4
Steven (Shlomo) Jeremy HoffmanCertified Financial Planner, Chartered Financial ConsultantGreen Bay, Wi Jan 3, 202424 y3
Regina UngerNew Waterford, Oh Jan 3, 202413 y2
Edward Devon SpauldingGreen Bay, Wi Apr 12, 202434 y2
Austin Kenneth BurnettGreen Bay, Wi Jan 6, 202511 y1
Giulliano Max GuimarayGreen Bay, Wi Jan 6, 202510 y1
Benjamin Adam KopenOrlando, Fl Mar 26, 202510 y0
Travis L GibsonRiverside, Ca May 9, 202523 y1
Wayne D GreenGreen Bay, Wi Jan 27, 202637 y6
Michael A DanceyWilmette, Il Mar 3, 202626 y2
Brett Michael FrumTarpon Springs, Fl Mar 24, 202625 y2
Richard Alexander RobinsonGreen Bay, Wi Apr 22, 202610 y0
Christopher Arnold JohansonGreen Bay, Wi May 27, 202611 y0
Luke Benjamin OberGreen Bay, Wi Jul 29, 202622 y0
William S MorrisGreen Bay, Wi Jul 30, 202638 y4
Orin Arthur DayBellevue, Wa Aug 20, 202622 y0
Advisor movement
2 left, 5 joined in 12 months
net +3 in 12 months1 left in 90 days1 joined in 90 daysdeparture rate 5.3% of current headcount3 left over 36 months
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • Joel Reid Blumenschein · Presidentcontrol
      since 04/2010 · owns less than 5%
    • David Scott Wilson · Chief Compliance Officercontrol
      since 11/2018 · owns less than 5%
    • Joel Reid Blumenschein · Presidentcontrol
      since 12/2012 · owns 25% to 50% of Freedom Securities Inc
    • Henry Carl IV Prange · Common Shareholder
      since 07/2003 · owns 10% to 25%
    Entity owners
    • Freedom Securities, Inc. · Common Shareholder
      direct · 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
    OfficeAdvisorsJoinedLeftTeams outForming
    Green Bay, Wi · principal3881
    Stpetersburgh, Fl411
    Frisco, Tx200
    Orlando, Fl210
    Stratford, Ct200
    Bellevue, Wa210
    West Palm Beach, Fl210
    Bingham Farms, Mi200
    Offices
    Schedule D 1.F, the 25 largest
    • Sun City, AZ2 employees
    • Bingham Farms, MI2 employees
    • Frisco, TX2 employees
    • Willowbrook, IL1 employees
    • , 1 employees
    • , 1 employees
    • Waukesha, WI1 employees
    • , 1 employees
    • Columbia, MD1 employees
    • West Palm Beach, FL1 employees
    • Bellevue, WA1 employees
    • , 1 employees
    • Melbourne, FL1 employees
    • Minnetonka, MN1 employees
    • , 1 employees
    ADV anomalies
    1 against comparable advisers; where to look, not conclusions
    • account count surgeChange between filings · filing Mar 9, 2026
      accounts (Item 5.F.2.f) moved from 697.0 to 1,259.0 (+81.0%) between the annual amendments of 2025-04-21 and 2026-03-09; the peer median change was +5.0% (3688 comparable advisers, 97.0th percentile of changes)
      peers: independent wealth managers, $100M to $500M (3,688) · 97% percentile
    How anomalies are measured
    What changed
    consecutive filings, newest first
    • Accounts · 697 to 1,259
      Feb 24, 2026 to Mar 9, 2026
    • Individual clients · 1,123 to 1,235
      Feb 24, 2026 to Mar 9, 2026
    • Employees · 28 to 29
      Feb 24, 2026 to Mar 9, 2026
    • Financial planning clients · 26-50 to 51-100
      Feb 24, 2026 to Mar 9, 2026
    • Discretionary RAUM · $183M to $202M
      Feb 24, 2026 to Mar 9, 2026
    • HNW RAUM · $57.8M to $64.0M
      Feb 24, 2026 to Mar 9, 2026
    • Individual RAUM · $125M to $138M
      Feb 24, 2026 to Mar 9, 2026
    • RAUM · $183M to $202M
      Feb 24, 2026 to Mar 9, 2026
    • Financial planning clients · 26-50 to 26-50
      May 22, 2025 to Jul 11, 2025
    • Advisory employees · 25 to 27
      May 2, 2024 to Mar 3, 2025
    • BD registered reps · 42 to 24
      May 2, 2024 to Mar 3, 2025
    • HNW clients · 17 to 22
      May 2, 2024 to Mar 3, 2025
    • Individual clients · 680 to 1,123
      May 2, 2024 to Mar 3, 2025
    • Employees · 46 to 28
      May 2, 2024 to Mar 3, 2025
    • Financial planning clients · 51-100 to 26-50
      May 2, 2024 to Mar 3, 2025
    • Other offices · 15 to 17
      May 2, 2024 to Mar 3, 2025
    • Discretionary RAUM · $175M to $183M
      May 2, 2024 to Mar 3, 2025
    • HNW RAUM · $50.0M to $57.8M
      May 2, 2024 to Mar 3, 2025
    • Individual RAUM · $125M to $125M
      May 2, 2024 to Mar 3, 2025
    • RAUM · $175M to $183M
      May 2, 2024 to Mar 3, 2025
    • Accounts · 681 to 697
      Feb 12, 2024 to Apr 1, 2024
    • Advisory employees · 27 to 25
      Feb 12, 2024 to Apr 1, 2024
    • BD registered reps · 47 to 42
      Feb 12, 2024 to Apr 1, 2024
    • Individual clients · 664 to 680
      Feb 12, 2024 to Apr 1, 2024
    • Employees · 50 to 46
      Feb 12, 2024 to Apr 1, 2024
    • Insurance-licensed employees · 1 to 0
      Feb 12, 2024 to Apr 1, 2024
    • State-registered IARs · 30 to 27
      Feb 12, 2024 to Apr 1, 2024
    • Discretionary RAUM · $2.5M to $175M
      Feb 12, 2024 to Apr 1, 2024
    • HNW RAUM · $42.9M to $50.0M
      Feb 12, 2024 to Apr 1, 2024
    • Individual RAUM · $81.0M to $125M
      Feb 12, 2024 to Apr 1, 2024
    • Non-discretionary RAUM · $121M to $0
      Feb 12, 2024 to Apr 1, 2024
    • RAUM · $124M to $175M
      Feb 12, 2024 to Apr 1, 2024
    • Other offices · 16 to 15
      Dec 15, 2023 to Jan 2, 2024
    • Advisory employees · 28 to 27
      Aug 18, 2023 to Dec 14, 2023
    • BD registered reps · 46 to 47
      Aug 18, 2023 to Dec 14, 2023
    • State-registered IARs · 28 to 30
      Aug 18, 2023 to Dec 14, 2023
    • Advisory employees · 29 to 28
      May 16, 2023 to Aug 18, 2023
    • BD registered reps · 41 to 46
      May 16, 2023 to Aug 18, 2023
    • Employees · 44 to 50
      May 16, 2023 to Aug 18, 2023
    • Insurance-licensed employees · 0 to 1
      May 16, 2023 to Aug 18, 2023
    Signals
    6 dated events
    • Michael Brooke Davis left Kcd Financial, Inc. for Wealth Watch Advisors, Inc (registered 2026-08-18)
      Aug 11, 2026 · Advisor changed firm · fact
    • Luke Jockovich left Kcd Financial, Inc. for Fisher Investments (registered 2026-06-12)
      May 27, 2026 · Advisor changed firm · fact
    • 3 advisors left Florida Financial Advisors, LLC (Tampa, FL) for Kcd Financial, Inc. within 7 days
      Jan 6, 2025 · Team lift-out · derived
    • Mark D Berndt left Kcd Financial, Inc. for Ipi Wealth Management, Inc. (registered 2024-02-01)
      Jan 27, 2024 · Advisor changed firm · fact
    • Phillip Gerard Vogel left Kcd Financial, Inc. for Vogel Wealth Management, Llc (registered 2023-08-08)
      Aug 4, 2023 · Advisor changed firm · fact
    • Kcd Financial, Inc. filed its initial SEC registration (Form ADV)
      Feb 22, 2017 · First SEC registration · fact
    Across DFX
    shared identifiers only, never a name match
    How to reach
    public business contact points only, each with its source
    Business email
    info@kcdfinancial.comreportedpublished by the firm, firm site, Sep 16, 2026
    Business phone
    920-347-3402reportedpublished by the firm, firm site, Sep 16, 2026
    Business phone
    920-964-0213reportedpublished by the firm, firm site, Sep 16, 2026
    Business phone
    920-347-3400reportedpublished by the firm, firm site, Sep 16, 2026
    Website
    KCDFINANCIAL.COMreportedpublic record, Form ADV, Sep 17, 2026
    Principal office phone
    920-347-3400reportedpublic record, Form ADV, Aug 11, 2026
    Contact form
    kcdfinancial.com/contact-kcdreportedpublished by the firm, firm site, Sep 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
    Independent wealth managerderiveda rule over Items 5.D and 7.A
    RAUM per advisor
    $5.3Mderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026