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.
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SEC-registered adviser
T•••• C•••••• M••••••••• I•••
Latest filing Jan 6, 2026
First filing on the tape Mar 1, 2012 · 21 filings
SEC status approved since Jan 19, 2007
RAUM
$578M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
19%
$112M individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$193M
derived; firm RAUM over IAPD count
Employees
4
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
21 filings and snapshots on the tape
RAUM$578M as of Jan 6, 2026
Mar 1, 2012$252M then
HNW client RAUM$95.6M as of Jan 6, 2026
Feb 28, 2018$33.7M then
State-registered IARs (5.B.3)3 as of Jan 6, 2026
Feb 14, 20130 then
Employees (5.A)4 as of Jan 6, 2026
Feb 14, 20135 then
Private funds: no history
RAUM +19% over the last fiscal year-2.5% a year over threeIARs 3 to 3
Practice profile
derived from the filing of Jan 6, 2026; every figure names its basis
Archetypes, each a printed rule
- Institutional asset manager · institutional share (pensions, government, insurance, corporations, charities, banks, other advisers) at least 60 percent and private-client share under 20 percent
- RAUM per advisor
- $193MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 22derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.6MderivedHNW RAUM over HNW clients
- Average account
- $2.9MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 79%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.3derivedItem 5.A over advisors
- Advisors per office
- 3.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +19%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +0.0%derived
- Compensation
- percentage of assets, hourlyreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
- Custody
- $23.8M, 23 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
- 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- 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
- Pension and profit-sharing plans$457M79%
- High-net-worth individuals$95.6M17%
- Individuals$16.2M2.8%
- Corporations and businesses$6.8M1.2%
- Charitable organizations$2.1M0.4%
- Individual clients
- 30reported
- HNW clients
- 37reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 201reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $23.8M for 23 clientsreported
- Compensation
- % of AUM, hourlyreported
- Class basis
- private_client_share=0.19 fund_share=0.0 institutional_share=0.79 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| G•••••• I••• B•••••••••Chartered Financial Analyst | Minnetonka, Mn | Mar 14, 2022 | 13 y | 0 |
| J••• A•••••• T••••Chartered Financial Analyst | Minnetonka, Mn | Mar 17, 2022 | 24 y | 0 |
| J••••• D•••• H••••Chartered Financial Analyst | Minnetonka, Mn | Sep 30, 2024 | 22 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
none on the tape
Joined, latest
none on the tape
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- B••••••••• G••••••• I••• · Principalcontrolsince 03/2020 · owns 10% to 25%
- H••••• J•••••• D• · Chief Investment Officercontrolsince 07/2022 · owns 10% to 25%
- T••••• J•••• A•••••• · President & Chief Executive & Chief Compliance Officercontrolsince 01/2004 · owns 25% to 50%
- T••••• M•••••••• A•• · Chief Financial Officercontrolsince 01/2004 · 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 |
|---|---|---|---|---|---|
| Minnetonka, Mn · principal | 3 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
What changed
consecutive filings, newest first
- Accounts · 193 to 201Jan 24, 2025 to Jan 6, 2026
- HNW clients · 34 to 37Jan 24, 2025 to Jan 6, 2026
- Individual clients · 33 to 30Jan 24, 2025 to Jan 6, 2026
- Assets in custody · $17.3M to $23.8MJan 24, 2025 to Jan 6, 2026
- Discretionary RAUM · $484M to $578MJan 24, 2025 to Jan 6, 2026
- HNW RAUM · $74.7M to $95.6MJan 24, 2025 to Jan 6, 2026
- Individual RAUM · $15.6M to $16.2MJan 24, 2025 to Jan 6, 2026
- Pension RAUM · $386M to $457MJan 24, 2025 to Jan 6, 2026
- RAUM · $484M to $578MJan 24, 2025 to Jan 6, 2026
- Accounts · 162 to 193Sep 30, 2024 to Jan 24, 2025
- Advisory activities · 2 to 3Sep 30, 2024 to Jan 24, 2025
- Charity clients · 2.0 to unsetSep 30, 2024 to Jan 24, 2025
- HNW clients · 24 to 34Sep 30, 2024 to Jan 24, 2025
- Individual clients · 64 to 33Sep 30, 2024 to Jan 24, 2025
- Pension plan clients · 3.0 to unsetSep 30, 2024 to Jan 24, 2025
- Assets in custody · $19.2M to $17.3MSep 30, 2024 to Jan 24, 2025
- Financial planning clients · unset to 0Sep 30, 2024 to Jan 24, 2025
- State-registered IARs · 2 to 3Sep 30, 2024 to Jan 24, 2025
- Other offices · 1 to 0Sep 30, 2024 to Jan 24, 2025
- Discretionary RAUM · $636M to $484MSep 30, 2024 to Jan 24, 2025
- HNW RAUM · $40.7M to $74.7MSep 30, 2024 to Jan 24, 2025
- Individual RAUM · $41.2M to $15.6MSep 30, 2024 to Jan 24, 2025
- Non-discretionary RAUM · $398,931 to $0Sep 30, 2024 to Jan 24, 2025
- Pension RAUM · $553M to $386MSep 30, 2024 to Jan 24, 2025
- RAUM · $637M to $484MSep 30, 2024 to Jan 24, 2025
- State-registered IARs · 0 to 2May 13, 2024 to Sep 30, 2024
- Employees · 5 to 4Mar 21, 2024 to May 13, 2024
- Accounts · 163 to 162Feb 9, 2023 to Mar 21, 2024
- Individual clients · 66 to 64Feb 9, 2023 to Mar 21, 2024
- Assets in custody · $11.4M to $19.2MFeb 9, 2023 to Mar 21, 2024
- Discretionary RAUM · $624M to $636MFeb 9, 2023 to Mar 21, 2024
- HNW RAUM · $38.7M to $40.7MFeb 9, 2023 to Mar 21, 2024
- Individual RAUM · $37.2M to $41.2MFeb 9, 2023 to Mar 21, 2024
- Non-discretionary RAUM · $292,162 to $398,931Feb 9, 2023 to Mar 21, 2024
- Pension RAUM · $548M to $553MFeb 9, 2023 to Mar 21, 2024
- RAUM · $625M to $637MFeb 9, 2023 to Mar 21, 2024
- Accounts · 169 to 163Jul 25, 2022 to Feb 9, 2023
- Charity clients · 3 to 2Jul 25, 2022 to Feb 9, 2023
- HNW clients · 26 to 24Jul 25, 2022 to Feb 9, 2023
- Individual clients · 73 to 66Jul 25, 2022 to Feb 9, 2023
Signals
5 dated events
- Eugene Joseph Stratmann (Chief Compliance Officer & Coo) no longer on Schedule A of T•••• C•••••• M••••••••• I••• (listed 2024-03-21, absent 2024-05-13)May 13, 2024 · Control person left · inference
- D J••••• H•••• (Chief Investment Officer) appeared on Schedule A of T•••• C•••••• M••••••••• I•••May 13, 2024 · Control person joined · fact
- T•••• C•••••• M••••••••• I••• reported RAUM $810.9M, up 40% from $581.0M (2021-03-11 to 2022-01-28)Jan 28, 2022 · RAUM change · derived
- Ivan Gregory Baranivsky (Principal) appeared on Schedule A of T•••• C•••••• M••••••••• I•••May 14, 2020 · Control person joined · fact
- Douglas Brent Mellum (Principal & Portfolio Manager) no longer on Schedule A of T•••• C•••••• M••••••••• I••• (listed 2019-03-15, absent 2020-03-24)Mar 24, 2020 · 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
- Website
- twelecapital.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 952 887 9253reportedpublic record, Form ADV, Jan 6, 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
- Other adviserderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $193Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026