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.

Former SEC-registered adviser

Andesa Financial Management, Inc.

Former SEC-registered adviserAllentown, PennsylvaniaCRD 131702SEC 801-67683IAPD
Latest filing Apr 25, 2023
First filing on the tape Mar 5, 2012 · 34 filings
RAUM
$361M
reported, Item 5.F
Discretionary
92%
of RAUM
Private clients
99%
$358M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
5
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
34 filings and snapshots on the tape
RAUM$361M as of Mar 10, 2023
Mar 5, 2012$132M then
HNW client RAUM$314M as of Mar 10, 2023
Feb 22, 2018$227M then
State-registered IARs (5.B.3)3 as of Mar 10, 2023
Mar 5, 20120 then
Employees (5.A)5 as of Mar 10, 2023
Feb 27, 20135 then
Private funds: no history
RAUM -9.7% over the last fiscal year+5.4% a year over threeIARs 3 to 3
Practice profile
derived from the filing of Apr 25, 2023; every figure names its basis
RAUM per advisor
$120MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
103derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.6MderivedHNW RAUM over HNW clients
Average account
$425,126derivedRAUM over accounts (5.F.2.f)
Discretionary
92%derivedof RAUM
Institutional
0.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.7derivedItem 5.A over advisors
Advisors per office
3.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
-9.7%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+6.6%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, selection of other advisersreportedItem 5.G
Custody
$1.6M, 3 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)
  • 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$314M87%
  • Individuals$44.7M12%
  • Charitable organizations$1.5M0.4%
  • Corporations and businesses$1.1M0.3%
Individual clients
188reported
HNW clients
120reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
849reported
Financial planning clients
251-500reported
Wrap fee programs
noreported
Custody of client assets
$1.6M for 3 clientsreported
Compensation
% of AUM, fixedreported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
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
    • David Michael Baittinger · Principalcontrol
      since 11/2006 · owns less than 5%
    • Curtis Paul Barbehenn · Principal & Chief Compliance Officercontrol
      since 08/2006 · owns less than 5%
    • Northrup Malcolm Briggs · Shareholdercontrol
      since 01/2009 · owns less than 5%
    • Justine Kelly Sheptock · Senior Associate And Shareholder
      since 01/2023 · owns less than 5%
    Entity owners
    • Mercer Global Advisors Inc. · Parent Company
      direct · owns 75% or more
    Related persons
    Schedule D 7.A
    No related person reported.
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Accounts · 765 to 849
      Mar 28, 2022 to Mar 10, 2023
    • HNW clients · 117 to 120
      Mar 28, 2022 to Mar 10, 2023
    • Individual clients · 172 to 188
      Mar 28, 2022 to Mar 10, 2023
    • Assets in custody · $13.0M to $1.6M
      Mar 28, 2022 to Mar 10, 2023
    • Discretionary RAUM · $370M to $333M
      Mar 28, 2022 to Mar 10, 2023
    • HNW RAUM · $354M to $314M
      Mar 28, 2022 to Mar 10, 2023
    • Individual RAUM · $42.9M to $44.7M
      Mar 28, 2022 to Mar 10, 2023
    • Non-discretionary RAUM · $29.6M to $28.4M
      Mar 28, 2022 to Mar 10, 2023
    • RAUM · $400M to $361M
      Mar 28, 2022 to Mar 10, 2023
    • Accounts · 676 to 765
      Nov 1, 2021 to Mar 28, 2022
    • Charity clients · 3.0 to unset
      Nov 1, 2021 to Mar 28, 2022
    • Corporate clients · 2.0 to unset
      Nov 1, 2021 to Mar 28, 2022
    • HNW clients · 120 to 117
      Nov 1, 2021 to Mar 28, 2022
    • Individual clients · 144 to 172
      Nov 1, 2021 to Mar 28, 2022
    • Assets in custody · $12.0M to $13.0M
      Nov 1, 2021 to Mar 28, 2022
    • Financial planning clients · 101-250 to 251-500
      Nov 1, 2021 to Mar 28, 2022
    • Discretionary RAUM · $307M to $370M
      Nov 1, 2021 to Mar 28, 2022
    • HNW RAUM · $301M to $354M
      Nov 1, 2021 to Mar 28, 2022
    • Individual RAUM · $33.3M to $42.9M
      Nov 1, 2021 to Mar 28, 2022
    • Non-discretionary RAUM · $30.3M to $29.6M
      Nov 1, 2021 to Mar 28, 2022
    • RAUM · $337M to $400M
      Nov 1, 2021 to Mar 28, 2022
    • Accounts · 684 to 676
      Jun 30, 2020 to Feb 18, 2021
    • Advisory employees · 2 to 3
      Jun 30, 2020 to Feb 18, 2021
    • Charity clients · 2 to 3
      Jun 30, 2020 to Feb 18, 2021
    • HNW clients · 119 to 120
      Jun 30, 2020 to Feb 18, 2021
    • Individual clients · 137 to 144
      Jun 30, 2020 to Feb 18, 2021
    • Assets in custody · $3.9M to $12.0M
      Jun 30, 2020 to Feb 18, 2021
    • Custody of client assets · false to true
      Jun 30, 2020 to Feb 18, 2021
    • Employees · 4 to 5
      Jun 30, 2020 to Feb 18, 2021
    • State-registered IARs · 2 to 3
      Jun 30, 2020 to Feb 18, 2021
    • Discretionary RAUM · $271M to $307M
      Jun 30, 2020 to Feb 18, 2021
    • HNW RAUM · $274M to $301M
      Jun 30, 2020 to Feb 18, 2021
    • Individual RAUM · $31.3M to $33.3M
      Jun 30, 2020 to Feb 18, 2021
    • Non-discretionary RAUM · $37.0M to $30.3M
      Jun 30, 2020 to Feb 18, 2021
    • RAUM · $308M to $337M
      Jun 30, 2020 to Feb 18, 2021
    • Accounts · 656 to 684
      Feb 20, 2019 to Feb 7, 2020
    • Advisory activities · 2 to 3
      Feb 20, 2019 to Feb 7, 2020
    • Charity clients · 4 to 2
      Feb 20, 2019 to Feb 7, 2020
    • HNW clients · 113 to 119
      Feb 20, 2019 to Feb 7, 2020
    • Individual clients · 130 to 137
      Feb 20, 2019 to Feb 7, 2020
    Signals
    4 dated events
    • Michael David Baittinger left Andesa Financial Management, Inc. for Mercer Global Advisors Inc. (registered 2023-04-10)
      May 9, 2023 · Advisor changed firm · fact
    • Kelly Justine Albert left Andesa Financial Management, Inc. for Mercer Global Advisors Inc. (registered 2023-04-06)
      May 9, 2023 · Advisor changed firm · fact
    • Paul Curtis Barbehenn left Andesa Financial Management, Inc. for Andesa Strategies, Inc. (registered 2004-10-14)
      May 9, 2023 · Advisor changed firm · fact
    • 2 advisors left Andesa Financial Management, Inc. (Allentown, PA) for Mercer Global Advisors Inc. on the same day
      May 9, 2023 · Team lift-out · derived
    Across DFX
    shared identifiers only, never a name match
    No identifier-backed link to the venture, private equity, family office or sponsor graphs.
    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
    Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
    RAUM per advisor
    n/aderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026