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
R••• P•••• A•••••••• L••
Latest filing Mar 24, 2026
First filing on the tape Mar 12, 2012 · 42 filings
SEC status approved since Apr 30, 2004
RAUM
$656M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
93%
$607M individuals and HNW
Advisors
4
registered through the firm on IAPD
RAUM per advisor
$164M
derived; firm RAUM over IAPD count
Employees
9
5 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
42 filings and snapshots on the tape
RAUM$656M as of Mar 24, 2026
Mar 12, 2012$271M then
HNW client RAUM$564M as of Mar 24, 2026
Mar 5, 2018$255M then
State-registered IARs (5.B.3)4 as of Mar 24, 2026
Mar 28, 20134 then
Employees (5.A)9 as of Mar 24, 2026
Mar 28, 20136 then
Private funds: no history
RAUM +17% over the last fiscal year+13% a year over threeIARs 4 to 4
Practice profile
derived from the filing of Mar 24, 2026; every figure names its basis
Archetypes, each a printed rule
- 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
- $164MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 58derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.8MderivedHNW RAUM over HNW clients
- Average account
- $1.3MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 1.5%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.3derivedItem 5.A over advisors
- Advisors per office
- 4.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +17%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -0.4%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
- Wrap fee program
- participatesreportedItem 5.I
- Custody
- $397M, 199 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)
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$564M86%
- Individuals$43.0M6.6%
- Corporations and businesses$38.4M5.9%
- Charitable organizations$9.9M1.5%
- Individual clients
- 82reported
- HNW clients
- 150reported
- Pension plan clients
- 0reported
- Charitable clients
- 5reported
- Accounts
- 493reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- $0 sponsored, $10.3M managedreported
- Custody of client assets
- $397M for 199 clientsreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.93 fund_share=0.0 institutional_share=0.02 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
4 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| T••• A••• W••••••Chartered Financial Analyst | Burlington, Vt | May 28, 2004 | 29 y | 1 |
| M•••••• L••••••• H••••••Chartered Financial Analyst | Burlington, Vt | Jan 28, 2005 | 28 y | 1 |
| T•••••• A• H•••••••Certified Financial Planner, Chartered Financial Analyst | Burlington, Vt | Mar 13, 2015 | 17 y | 2 |
| J•••••• A••••• B•••••••• | Burlington, Vt | Jan 8, 2026 | 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
- E••• I••••• P•••••••• to M•••• C•••••• M••••••••• I•••Oct 27, 2014 · Other
- M•••••• P•••• W•••••• to M••••• T•••• A•••••••Mar 12, 2014 · Other
- J•••• J•••• F•••• to M••••• S••••••Mar 12, 2014 · Other
Joined, latest
- T•••••• A• H••••••• from B••••••• C•••••• I•••Mar 13, 2015 · Other
- J•••• J•••• F•••• from M••••• S••••••Jul 10, 2013 · Other
- M•••••• L••••••• H•••••• from F••••• M••••••••• A••••••••• I•••Jan 28, 2005 · Other
- M•••••• P•••• W•••••• from M••••• S•••••• D• I•••Jun 18, 2004 · Other
- T••• A••• W•••••• from F••••• M••••••••• A••••••••• I•••May 28, 2004 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- H••••••• M••••••• L••••••• · Presidentcontrolsince 03/2004 · owns 50% to 75%
- H•••••••• T••••••• A• · Wealth Managercontrolsince 12/2019 · owns 10% to 25%
- W••••••• T•••• A••• · Vice President, Ccocontrolsince 05/2004 · 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 |
|---|---|---|---|---|---|
| Burlington, Vt · principal | 4 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- HNW share shiftChange between filings · filing Mar 24, 2026HNW share of RAUM moved from 64.0% to 86.0% between the annual amendments of 2025-03-27 and 2026-03-24peers: independent wealth managers, $500M to $1B (1,482)
What changed
consecutive filings, newest first
- Accounts · 474 to 493Sep 17, 2025 to Mar 24, 2026
- Advisory employees · 6 to 5Sep 17, 2025 to Mar 24, 2026
- HNW clients · 67 to 150Sep 17, 2025 to Mar 24, 2026
- Individual clients · 166 to 82Sep 17, 2025 to Mar 24, 2026
- Assets in custody · $288M to $397MSep 17, 2025 to Mar 24, 2026
- Discretionary RAUM · $560M to $656MSep 17, 2025 to Mar 24, 2026
- HNW RAUM · $360M to $564MSep 17, 2025 to Mar 24, 2026
- Individual RAUM · $157M to $43.0MSep 17, 2025 to Mar 24, 2026
- RAUM · $560M to $656MSep 17, 2025 to Mar 24, 2026
- Wrap assets (manager) · $10.6M to $10.3MSep 17, 2025 to Mar 24, 2026
- Accounts · 483 to 474Oct 2, 2024 to Mar 27, 2025
- Advisory employees · 5 to 6Oct 2, 2024 to Mar 27, 2025
- Charity clients · 4 to 5Oct 2, 2024 to Mar 27, 2025
- HNW clients · 128 to 67Oct 2, 2024 to Mar 27, 2025
- Individual clients · 105 to 166Oct 2, 2024 to Mar 27, 2025
- Assets in custody · $134M to $288MOct 2, 2024 to Mar 27, 2025
- Financial planning clients · 51-100 to 51-100Oct 2, 2024 to Mar 27, 2025
- State-registered IARs · 3 to 4Oct 2, 2024 to Mar 27, 2025
- Discretionary RAUM · $527M to $560MOct 2, 2024 to Mar 27, 2025
- HNW RAUM · $436M to $360MOct 2, 2024 to Mar 27, 2025
- Individual RAUM · $53.1M to $157MOct 2, 2024 to Mar 27, 2025
- RAUM · $527M to $560MOct 2, 2024 to Mar 27, 2025
- Wrap assets (manager) · $10.0M to $10.6MOct 2, 2024 to Mar 27, 2025
- Accounts · 480 to 483Apr 14, 2023 to Mar 20, 2024
- Advisory employees · 6 to 5Apr 14, 2023 to Mar 20, 2024
- Charity clients · 6 to 4Apr 14, 2023 to Mar 20, 2024
- Corporate clients · 3 to 6Apr 14, 2023 to Mar 20, 2024
- HNW clients · 119 to 128Apr 14, 2023 to Mar 20, 2024
- Individual clients · 119 to 105Apr 14, 2023 to Mar 20, 2024
- Pension plan clients · 1 to 0Apr 14, 2023 to Mar 20, 2024
- Assets in custody · $100M to $134MApr 14, 2023 to Mar 20, 2024
- Discretionary RAUM · $460M to $527MApr 14, 2023 to Mar 20, 2024
- HNW RAUM · $380M to $436MApr 14, 2023 to Mar 20, 2024
- Individual RAUM · $61.4M to $53.1MApr 14, 2023 to Mar 20, 2024
- Pension RAUM · $2.9M to $0Apr 14, 2023 to Mar 20, 2024
- RAUM · $460M to $527MApr 14, 2023 to Mar 20, 2024
- Wrap assets (manager) · $40.2M to $10.0MApr 14, 2023 to Mar 20, 2024
- Accounts · 594 to 480Aug 23, 2022 to Mar 30, 2023
- Charity clients · 5 to 6Aug 23, 2022 to Mar 30, 2023
- Corporate clients · 5 to 3Aug 23, 2022 to Mar 30, 2023
Signals
2 dated events
- Richard Brian Culver (Chief Compliance Officer) no longer on Schedule A of R••• P•••• A•••••••• L•• (listed 2020-07-01, absent 2020-12-10)Dec 10, 2020 · Control person left · inference
- A Timothy Humphrey (Wealth Manager) appeared on Schedule A of R••• P•••• A•••••••• L••Mar 5, 2020 · Control person joined · 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
- 802-864-2266reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 802-864-1116reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- R•••P••••ADVISORS.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 802-864-2266reportedpublic record, Form ADV, Mar 24, 2026
- Contact form
- r•••••••••.comreportedpublished by the firm, firm site, Sep 16, 2026
- Team page
- r•••••••••.comreportedpublished 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
- $164Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026