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
Dunham
Legal name Dunham & Associates Investment Counsel, Inc.
Latest filing Jul 15, 2026
First filing on the tape Dec 15, 2011 · 63 filings
SEC status approved since Nov 29, 1985
RAUM
$5.6B
reported, Item 5.F
Discretionary
84%
of RAUM
Private clients
91%
$5.1B individuals and HNW
Advisors
30
registered through the firm on IAPD
RAUM per advisor
$188M
derived; firm RAUM over IAPD count
Employees
43
9 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
1
reported on Schedule D
History
63 filings and snapshots on the tape
RAUM$5.6B as of Jul 15, 2026
Feb 8, 2012$935M then
HNW client RAUM$3.2B as of Jul 15, 2026
Mar 29, 2018$813M then
State-registered IARs (5.B.3)30 as of Jul 15, 2026
Apr 1, 201318 then
Employees (5.A)43 as of Jul 15, 2026
Apr 1, 201338 then
Private funds1 as of Jul 15, 2026
Feb 8, 20124 then
RAUM +19% over the last fiscal year+25% a year over threeIARs 24 to 30
Practice profile
derived from the filing of Jul 15, 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)
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- RIA with private funds · a wealth manager (private-client share at least 50 percent) that reports at least one private fund on Schedule D 7.B.(1)
- Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
- RAUM per advisor
- $188MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 426derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.6MderivedHNW RAUM over HNW clients
- Average account
- $427,795derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 84%derivedof RAUM
- Institutional
- 1.1%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.4derivedItem 5.A over advisors
- Advisors per office
- 15.0derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +19%derivedbetween the last two annual amendments
- Advisor growth, one year
- +25%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +9.2%derived
- Compensation
- percentage of assets, fixed fees, performance-basedreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, portfolio management for investment companies, selection of other advisers, otherreportedItem 5.G
- Wrap fee program
- $2.8BreportedItem 5.I
- 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
- is a broker-dealer (6.A.1)
- 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)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- an independent public accountant performs a surprise examination (9.C.1)
- a related person acts as qualified custodian (9.D.2)
- marketing includes testimonials (5.L.1.c)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$3.2B56%
- Individuals$2.0B35%
- Investment companies$336M6.0%
- Corporations and businesses$99.7M1.8%
- Charitable organizations$38.5M0.7%
- Pension and profit-sharing plans$25.9M0.5%
- Individual clients
- 10,820reported
- HNW clients
- 1,954reported
- Pension plan clients
- 45reported
- Charitable clients
- 149reported
- Accounts
- 13,155reported
- Financial planning clients
- 0reported
- Wrap fee programs
- $551M sponsored, $0 managedreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, performancereported
- Class basis
- private_client_share=0.91 fund_share=0.06 institutional_share=0.01 related_bd=false related_bank=false bd_reps=31.0derived
Advisors registered through the firm
30 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Jeffrey Alan Dunham | Reno, Nv | Jul 8, 1997 | 42 y | 0 |
| Ryan John DykmansChartered Financial Analyst | San Diego, Ca | Apr 25, 2005 | 22 y | 0 |
| Salvatore Michael Capizzi | San Diego, Ca | Jan 16, 2008 | 31 y | 1 |
| Peter Byron Nesbitt | West Chester, Pa | Jul 29, 2010 | 18 y | 2 |
| Jason Gregory GreerChartered Financial Analyst | San Diego, Ca | Dec 17, 2013 | 14 y | 0 |
| Robert Lawrence Pancrazi | San Diego, Ca | Jan 15, 2014 | 25 y | 4 |
| Rebecca Pearson MartinCertified Financial Planner | San Diego, Ca | Jan 13, 2017 | 14 y | 1 |
| Amy Suzanne Gallego | San Diego, Ca | Mar 9, 2017 | 29 y | 0 |
| Shawn Thomas Waltz | Woodlyn, Pa | Jul 23, 2019 | 17 y | 2 |
| Daniel David SandsCertified Financial Planner | Reno, Nv | Sep 20, 2019 | 24 y | 2 |
| Viktoria Irena Palermo | San Diego, Ca | Sep 28, 2021 | 22 y | 5 |
| Nehemiah Timothy Mcfarlin | Little Elm, Tx | Apr 26, 2022 | 10 y | 0 |
| Royce Gittings | San Diego, Ca | May 27, 2022 | 22 y | 1 |
| William Bo | San Diego, Ca | Mar 8, 2023 | 12 y | 3 |
| Liam Anthony Morando | San Diego, Ca | Apr 6, 2023 | 10 y | 0 |
| Czarina Lagman Frias | San Diego, Ca | Apr 26, 2023 | 9 y | 1 |
| Cade Bergen Isakson | San Diego, Ca | May 24, 2024 | 13 y | 0 |
| Bruin Crawford Jones | San Diego, Ca | Sep 12, 2024 | 12 y | 0 |
| Mason Sang-Jin Mah | San Diego, Ca | Sep 21, 2024 | 12 y | 0 |
| Pearse Braden Migl | San Diego, Ca | Oct 22, 2024 | 19 y | 0 |
| Deshaun Malik Harvey | San Diego, Ca | Feb 18, 2025 | 15 y | 0 |
| Alejandro Darjania | San Diego, Ca | Oct 13, 2025 | 11 y | 0 |
| Antonio Guy Maillaro | San Diego, Ca | Nov 20, 2025 | 12 y | 0 |
| Lucas Max Keefer | San Diego, Ca | Dec 8, 2025 | 11 y | 0 |
| Camryn Nicole Nurmberg | San Diego, Ca | Apr 7, 2026 | 10 y | 0 |
| Hannah Rose Alves | San Diego, Ca | Apr 27, 2026 | 10 y | 1 |
| Sasa Gligorijevic | San Diego, Ca | May 28, 2026 | 12 y | 0 |
| Santiago Tena | San Diego, Ca | Jun 29, 2026 | 11 y | 0 |
| Ryan Yamato | San Diego, Ca | Jul 1, 2026 | 11 y | 2 |
| Matthew Brian Summe | San Diego, Ca | Sep 2, 2026 | 13 y | 3 |
Advisor movement
2 left, 3 joined in 12 months
net +1 in 12 months0 left in 90 days2 joined in 90 daysdeparture rate 6.7% of current headcount5 left over 36 months
Left, latest
- Katherine Rose Evans to Schwab Wealth Advisory, Inc.Jun 18, 2026 · Other
- Benjamin Lucas to Schwab Wealth Advisory, Inc.Oct 21, 2025 · Other
- Mikhael Turcan to Strategic Advisers LLCMar 17, 2025 · RIA to affiliated broker-dealer or bank
- Hannah Kelly to LPL Financial LLCSep 16, 2024 · RIA to affiliated broker-dealer or bank
- Eugene Choi to Wealth Enhancement Advisory Services, LLCJan 18, 2024 · RIA to RIA
- Brandon Reid Mather to Wealth Enhancement Advisory Services, LLCApr 6, 2023 · RIA to RIA
- Kent Cullinane to LPL Financial LLCNov 18, 2022 · RIA to RIA
- Andrew Sebastian Pillai to Morgan StanleyOct 26, 2022 · RIA to wirehouse
- Brian Barnes Lee to Morgan StanleyJun 3, 2022 · RIA to wirehouse
- Richard D Boyd to Confidence Wealth Management, Inc.May 27, 2022 · RIA to RIA
- Suraj Singh Puri to Charles Schwab & Co., Inc.May 10, 2022 · RIA to affiliated broker-dealer or bank
- Khaled M Nada to Raymond James Financial Services Advisors, IncOct 5, 2021 · RIA to affiliated broker-dealer or bank
- Alexa Paige Cammarano to Coastedge Partners, LLCJul 23, 2021 · RIA to RIA
- Joseph Dinaso to Allspring Funds Management, LLCApr 26, 2021 · Other
- Marianne Elizabeth Hobson to LPL Financial LLCSep 18, 2020 · RIA to affiliated broker-dealer or bank
Joined, latest
- Matthew Brian Summe from Stratos Wealth Partners, LtdSep 2, 2026 · Affiliated broker-dealer or bank to independent RIA
- Ryan Yamato from Schwab Wealth Advisory, Inc.Jul 1, 2026 · Other
- Hannah Rose Alves from Trilogy Capital, Inc.Apr 27, 2026 · RIA to RIA
- William Bo from Cuso Financial Services, L.P.Mar 8, 2023 · Affiliated broker-dealer or bank to independent RIA
- Richard D Boyd from Reilly Financial AdvisorsFeb 16, 2022 · RIA to RIA
- Viktoria Irena Palermo from LPL Financial LLCSep 28, 2021 · Affiliated broker-dealer or bank to independent RIA
- Hannah Kelly from LPL Financial LLCAug 6, 2021 · Affiliated broker-dealer or bank to independent RIA
- Khaled M Nada from Merrill Lynch, Pierce, Fenner & Smith IncorporatedApr 8, 2021 · Wirehouse to independent RIA
- Brian Barnes Lee from Morgan StanleyDec 16, 2020 · Wirehouse to independent RIA
- Alexa Paige Cammarano from LPL Financial LLCJan 24, 2020 · RIA to RIA
- Daniel David Sands from Arenite AdvisorySep 20, 2019 · Other
- Shawn Thomas Waltz from Bny Mellon Advisors, Inc.Jul 23, 2019 · RIA to RIA
- Lindsey Patricia Strand from Northwestern Mutual Investment Services,LLCMay 25, 2017 · Other
- Rebecca Pearson Martin from SpcJan 13, 2017 · Other
- Renee N Langlais from Merrill Lynch, Pierce, Fenner & Smith IncorporatedMar 29, 2016 · Other
Private funds
5 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| D&A Semi-Annual Mortgage Fund III, L.P.no longer reported | Other Private Fund | $71.0M | 326 | Feb 8, 2012 |
| D&A Intermediate-Term Mortgage Fund III, L.P.no longer reported | Other Private Fund | $20.4M | 75 | Feb 8, 2012 |
| D&A Daily Mortgage Fund III, L.P.no longer reported | Other Private Fund | $7.0M | 2 | Feb 8, 2012 |
| Dunham Commercial Mortgage Fund LPno longer reported | Other Private Fund | $1.9M | 10 | Feb 8, 2012 |
| Dunham Vip Ventures L.P. | $0 | 1 | Jul 15, 2026 |
Owners and control persons
Schedule A and B, latest filing
- Helmut Boisch · Chief Operations Officer Investment Officercontrolsince 03/2022 · owns less than 5%
- Salvatore Michael Capizzi · Chief Sales And Marketing Officercontrolsince 01/2008 · owns less than 5%
- Jeffrey Alan Dunham · Chief Executive Officercontrolsince 09/1985 · owns less than 5%
- Ryan John Dykmans · Chief Investment Officercontrolsince 07/2022 · owns less than 5%
- Jennifer Kim Gardyne · Chief Financial Officercontrolsince 11/2025 · owns less than 5%
- Viktoria Irena Palermo · Chief Compliance Officercontrolsince 10/2021 · owns less than 5%
- Jing Zou · Cfocontrolsince 09/2024 · owns less than 5%
- Jeffrey Alan Dunham · Shareholdercontrolsince 01/2000 · owns 75% or more of Dunham & Associates Holdings, Inc.
Entity owners
- Dunham & Associates Holdings, · Shareholderdirect · owns 75% or more
- Dunham & Associates Holdings, Inc. · Shareholderdirect · owns 75% or more
Related persons
Schedule D 7.A
- Dunham Trust Companycustodiann
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| San Diego, Ca · principal | 30 | 9 | 2 | ||
| Reno, Nv | 3 | 1 | 0 | ||
| Nashville, Tn | 0 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Reno, NV2 employees
ADV anomalies
4 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Jul 15, 2026GARDYNE, JENNIFER KIM (CHIEF FINANCIAL OFFICER) appeared on Schedule A between the filings of 2024-09-30 and 2026-07-15peers: independent wealth managers, $5B to $20B (289)
- control person changedChange between filings · filing Jul 15, 2026DYKMANS, RYAN JOHN (CHIEF INVESTMENT OFFICER) left Schedule A between the filings of 2024-09-30 and 2026-07-15peers: independent wealth managers, $5B to $20B (289)
- control person changedChange between filings · filing Jul 15, 2026ZOU, JING (CFO) left Schedule A between the filings of 2024-09-30 and 2026-07-15peers: independent wealth managers, $5B to $20B (289)
- new owner headcount expandsCombination · filing Apr 16, 2026DUNHAM & ASSOCIATES HOLDINGS, joined Schedule A on the filing of 2026-07-15; advisors 24.0 to 30.0 between the annual amendments of 2025-04-23 and 2026-04-16peers: independent wealth managers, $5B to $20B (289)
What changed
consecutive filings, newest first
- Accounts · 12,032 to 13,155Feb 9, 2026 to Mar 30, 2026
- Advisory activities · 6 to 7Feb 9, 2026 to Mar 30, 2026
- BD registered reps · 25 to 31Feb 9, 2026 to Mar 30, 2026
- Charity clients · 107 to 149Feb 9, 2026 to Mar 30, 2026
- Corporate clients · 166 to 172Feb 9, 2026 to Mar 30, 2026
- HNW clients · 1,805 to 1,954Feb 9, 2026 to Mar 30, 2026
- Individual clients · 9,897 to 10,820Feb 9, 2026 to Mar 30, 2026
- Pension plan clients · 42 to 45Feb 9, 2026 to Mar 30, 2026
- Employees · 39 to 43Feb 9, 2026 to Mar 30, 2026
- State-registered IARs · 24 to 30Feb 9, 2026 to Mar 30, 2026
- Private funds · unset to 1Feb 9, 2026 to Mar 30, 2026
- Discretionary RAUM · $3.8B to $4.7BFeb 9, 2026 to Mar 30, 2026
- HNW RAUM · $2.7B to $3.2BFeb 9, 2026 to Mar 30, 2026
- Individual RAUM · $1.6B to $2.0BFeb 9, 2026 to Mar 30, 2026
- Non-discretionary RAUM · $898M to $888MFeb 9, 2026 to Mar 30, 2026
- Pension RAUM · $16.3M to $25.9MFeb 9, 2026 to Mar 30, 2026
- RAUM · $4.7B to $5.6BFeb 9, 2026 to Mar 30, 2026
- Wrap assets (sponsor) · $630M to $551MFeb 9, 2026 to Mar 30, 2026
- Business name · DUNHAM & ASSOCIATES INVESTMENT COUNSEL, INC. to DUNHAMApr 23, 2025 to Nov 13, 2025
- Financial planning clients · 0 to 0Apr 23, 2025 to Nov 13, 2025
- Accounts · 10,985 to 12,032Jan 16, 2025 to Apr 23, 2025
- BD registered reps · 33 to 25Jan 16, 2025 to Apr 23, 2025
- Charity clients · 70 to 107Jan 16, 2025 to Apr 23, 2025
- Corporate clients · 129 to 166Jan 16, 2025 to Apr 23, 2025
- HNW clients · 1,803 to 1,805Jan 16, 2025 to Apr 23, 2025
- Individual clients · 8,925 to 9,897Jan 16, 2025 to Apr 23, 2025
- Pension plan clients · 41 to 42Jan 16, 2025 to Apr 23, 2025
- Pooled vehicle clients · 1 to 0Jan 16, 2025 to Apr 23, 2025
- Employees · 34 to 39Jan 16, 2025 to Apr 23, 2025
- Financial planning clients · 1-10 to 0Jan 16, 2025 to Apr 23, 2025
- State-registered IARs · 25 to 24Jan 16, 2025 to Apr 23, 2025
- Discretionary RAUM · $3.1B to $3.8BJan 16, 2025 to Apr 23, 2025
- HNW RAUM · $2.1B to $2.7BJan 16, 2025 to Apr 23, 2025
- Individual RAUM · $1.3B to $1.6BJan 16, 2025 to Apr 23, 2025
- Non-discretionary RAUM · $694M to $898MJan 16, 2025 to Apr 23, 2025
- Pension RAUM · $14.2M to $16.3MJan 16, 2025 to Apr 23, 2025
- Pooled vehicle RAUM · $960 to $0Jan 16, 2025 to Apr 23, 2025
- RAUM · $3.8B to $4.7BJan 16, 2025 to Apr 23, 2025
- Wrap assets (sponsor) · $522M to $630MJan 16, 2025 to Apr 23, 2025
- Accounts · 9,143 to 10,985Jan 24, 2024 to Mar 28, 2024
Signals
22 dated events
- Amy Suzanne Gallego added a NV registration at DunhamSep 15, 2026 · New state registration · fact
- Katherine Rose Evans left Dunham for Schwab Wealth Advisory, Inc. (registered 2026-06-25)Jun 18, 2026 · Advisor changed firm · fact
- Benjamin Lucas left Dunham for Schwab Wealth Advisory, Inc. (registered 2025-10-31)Oct 21, 2025 · Advisor changed firm · fact
- Dunham reported RAUM $4.7B, up 26% from $3.8B (2025-01-16 to 2025-04-23)Apr 23, 2025 · RAUM change · derived
- Mikhael Turcan left Dunham for Strategic Advisers Llc (registered 2025-06-26)Mar 17, 2025 · Advisor changed firm · fact
- Jing Zou (Cfo) appeared on Schedule A of DunhamSep 30, 2024 · Control person joined · fact
- Denise Sue Ms. Iverson (Cfo) no longer on Schedule A of Dunham (listed 2024-06-28, absent 2024-09-30)Sep 30, 2024 · Control person left · inference
- Hannah Kelly left Dunham for Lpl Financial Llc (registered 2025-03-17)Sep 16, 2024 · Advisor changed firm · fact
- Dunham reported RAUM $3.8B, up 30% from $2.9B (2024-01-24 to 2024-03-28)Mar 28, 2024 · RAUM change · derived
- Eugene Choi left Dunham for Wealth Enhancement Advisory Services, Llc (registered 2024-01-19)Jan 18, 2024 · Advisor changed firm · fact
- Brandon Reid Mather left Dunham for Wealth Enhancement Advisory Services, Llc (registered 2023-04-06)Apr 6, 2023 · Advisor changed firm · fact
- Ryan John Dykmans (Chief Investment Officer) appeared on Schedule A of DunhamMar 24, 2023 · Control person joined · fact
- Kent Cullinane left Dunham for Lpl Financial Llc (registered 2022-12-19)Nov 18, 2022 · Advisor changed firm · fact
- Andrew Sebastian Pillai left Dunham for Morgan Stanley (registered 2022-10-24)Oct 26, 2022 · Advisor changed firm · fact
- Brian Barnes Lee left Dunham for Morgan Stanley (registered 2022-06-27)Jun 3, 2022 · Advisor changed firm · fact
- Richard D Boyd left Dunham for Confidence Wealth Management, Inc. (registered 2022-10-17)May 27, 2022 · Advisor changed firm · fact
- Suraj Singh Puri left Dunham for Charles Schwab & Co., Inc. (registered 2022-06-13)May 10, 2022 · Advisor changed firm · fact
- Hilarey May Findeisen (Operations Director) no longer on Schedule A of Dunham (listed 2021-12-08, absent 2022-03-25)Mar 25, 2022 · Control person left · inference
- Dunham reported RAUM $3.0B, up 41% from $2.2B (2021-12-08 to 2022-03-25)Mar 25, 2022 · RAUM change · derived
- Helmut Boisch (Chief Operations Officer) appeared on Schedule A of DunhamMar 25, 2022 · Control person joined · fact
- Tamara Beth Wendoll (Chief Operating Officer) no longer on Schedule A of Dunham (listed 2021-12-08, absent 2022-03-25)Mar 25, 2022 · Control person left · inference
- Joseph Peter Ii Kelly (Chief Legal Officer/Chief Compliance Officer) no longer on Schedule A of Dunham (listed 2021-03-30, absent 2021-12-08)Dec 8, 2021 · Control person left · inference
Across DFX
shared identifiers only, never a name match
- Dunham · Independent Sponsorsshared crd · capital_provider
How to reach
public business contact points only, each with its source
- Business phone
- 800-442-4358reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 858-964-0500reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 858-964-0505reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- dunham.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 858-964-0500reportedpublic record, Form ADV, Jul 15, 2026
- Contact form
- dunham.com/contactreportedpublished 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
- $188Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026
Across the graphs
Dunham is the same institution as 1 record in Real Estate Funds.
Real Estate Funds1
Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.
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