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
L•••• F•••••••• S•••••••• I•••
Latest filing Mar 25, 2026
First filing on the tape Mar 4, 2022 · 8 filings
SEC status approved since Apr 5, 2022
RAUM
$176M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
98%
$173M individuals and HNW
Advisors
2
registered through the firm on IAPD
RAUM per advisor
$87.8M
derived; firm RAUM over IAPD count
Employees
2
2 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
8 filings and snapshots on the tape
RAUM$176M as of Mar 25, 2026
Mar 13, 2023$104M then
HNW client RAUM$42.1M as of Mar 25, 2026
Mar 13, 2023$19.7M then
State-registered IARs (5.B.3)2 as of Mar 25, 2026
Mar 13, 20232 then
Employees (5.A)2 as of Mar 25, 2026
Mar 13, 20232 then
Private funds: no history
RAUM +21% over the last fiscal year+19% a year over threeIARs 2 to 2
Practice profile
derived from the filing of Mar 25, 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
- Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
- Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
- RAUM per advisor
- $87.8MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 311derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.3MderivedHNW RAUM over HNW clients
- Average account
- $96,982derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 2.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +21%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +2.1%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, selection of other advisers, educational seminarsreportedItem 5.G
- Custody
- $72.9M, 117 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
- Individuals$131M74%
- High-net-worth individuals$42.1M24%
- Corporations and businesses$2.8M1.6%
- Individual clients
- 588reported
- HNW clients
- 33reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 1,810reported
- Financial planning clients
- 251-500reported
- Wrap fee programs
- noreported
- Custody of client assets
- $72.9M for 117 clientsreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=0.98 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
2 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| P••• A••••• L••••Certified Financial Planner | Fargo, Nd | Feb 14, 2018 | 36 y | 1 |
| S••••••• J• B••••••••• | Fargo, Nd | May 31, 2018 | 15 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
- P••• A••••• L•••• from U••••• S••••••••• A•••••••• I•••Feb 14, 2018 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- L••••• P•••• A••••• · President, Secretary, Treasurer, Director, Chief Compliance Officercontrolsince 12/2003 · 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
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Fargo, Nd · principal | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 1,632 to 1,810Mar 18, 2025 to Mar 25, 2026
- Corporate clients · unset to 1.0Mar 18, 2025 to Mar 25, 2026
- HNW clients · 28 to 33Mar 18, 2025 to Mar 25, 2026
- Individual clients · 580 to 588Mar 18, 2025 to Mar 25, 2026
- Assets in custody · $20.5M to $72.9MMar 18, 2025 to Mar 25, 2026
- Discretionary RAUM · $144M to $175MMar 18, 2025 to Mar 25, 2026
- HNW RAUM · $41.8M to $42.1MMar 18, 2025 to Mar 25, 2026
- Individual RAUM · $103M to $131MMar 18, 2025 to Mar 25, 2026
- Non-discretionary RAUM · $631,036 to $856,592Mar 18, 2025 to Mar 25, 2026
- RAUM · $145M to $176MMar 18, 2025 to Mar 25, 2026
- Accounts · 1,599 to 1,632Feb 26, 2024 to Mar 18, 2025
- Advisory activities · 3 to 4Feb 26, 2024 to Mar 18, 2025
- HNW clients · 26 to 28Feb 26, 2024 to Mar 18, 2025
- Individual clients · 575 to 580Feb 26, 2024 to Mar 18, 2025
- Assets in custody · unset to 20498107.0Feb 26, 2024 to Mar 18, 2025
- Custody of client assets · false to trueFeb 26, 2024 to Mar 18, 2025
- Financial planning clients · 251-500 to 251-500Feb 26, 2024 to Mar 18, 2025
- Discretionary RAUM · $125M to $144MFeb 26, 2024 to Mar 18, 2025
- HNW RAUM · $34.7M to $41.8MFeb 26, 2024 to Mar 18, 2025
- Individual RAUM · $91.1M to $103MFeb 26, 2024 to Mar 18, 2025
- Non-discretionary RAUM · $601,392 to $631,036Feb 26, 2024 to Mar 18, 2025
- RAUM · $126M to $145MFeb 26, 2024 to Mar 18, 2025
- Accounts · 1,546 to 1,599Sep 13, 2023 to Feb 26, 2024
- HNW clients · 16 to 26Sep 13, 2023 to Feb 26, 2024
- Individual clients · 577 to 575Sep 13, 2023 to Feb 26, 2024
- Financial planning clients · 1-10 to 251-500Sep 13, 2023 to Feb 26, 2024
- Discretionary RAUM · $103M to $125MSep 13, 2023 to Feb 26, 2024
- HNW RAUM · $19.7M to $34.7MSep 13, 2023 to Feb 26, 2024
- Individual RAUM · $84.1M to $91.1MSep 13, 2023 to Feb 26, 2024
- Non-discretionary RAUM · $911,011 to $601,392Sep 13, 2023 to Feb 26, 2024
- RAUM · $104M to $126MSep 13, 2023 to Feb 26, 2024
- Accounts · 1,380 to 1,546Aug 30, 2022 to Mar 13, 2023
- Advisory activities · 4 to 3Aug 30, 2022 to Mar 13, 2023
- HNW clients · 22 to 16Aug 30, 2022 to Mar 13, 2023
- Individual clients · 571 to 577Aug 30, 2022 to Mar 13, 2023
- Discretionary RAUM · $110M to $103MAug 30, 2022 to Mar 13, 2023
- HNW RAUM · $25.8M to $19.7MAug 30, 2022 to Mar 13, 2023
- Individual RAUM · $84.8M to $84.1MAug 30, 2022 to Mar 13, 2023
- Non-discretionary RAUM · $912,044 to $911,011Aug 30, 2022 to Mar 13, 2023
- RAUM · $111M to $104MAug 30, 2022 to Mar 13, 2023
Signals
1 dated events
- L•••• F•••••••• S•••••••• I••• filed its initial SEC registration (Form ADV)Mar 4, 2022 · First SEC registration · 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
- 701-356-0169reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 701-356-5106reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 888-246-1397reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- l•••••••••.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 701.356.5106reportedpublic record, Form ADV, Mar 25, 2026
- Team page
- l•••••••••.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
- $87.8Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026