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

Hermening Financial Group LLC

Former SEC-registered adviserWausau, WisconsinCRD 134927SEC 801-67716IAPD
Legal name Hermening Advisory Services LLC
Latest filing Apr 12, 2018
First filing on the tape Dec 1, 2011 · 18 filings
RAUM
$105M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
88%
$92.7M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
8
7 advisory (5.B.1)
Offices
5
beyond the principal office
Private funds
0
reported on Schedule D
History
18 filings and snapshots on the tape
RAUM$105M as of Mar 14, 2018
Mar 29, 2012$90.1M then
HNW client RAUM: $40.0M
State-registered IARs (5.B.3)6 as of Mar 14, 2018
Mar 29, 20120 then
Employees (5.A)8 as of Mar 14, 2018
Mar 18, 201312 then
Private funds: no history
RAUM -2.9% over the last fiscal year+4.0% a year over threeIARs 6 to 6
Practice profile
derived from the filing of Apr 12, 2018; every figure names its basis
RAUM per advisor
$17.5MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
60derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.1MderivedHNW RAUM over HNW clients
Average account
$137,037derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
11%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.3derivedItem 5.A over advisors
Advisors per office
1.0derived6 offices incl. principal (1.F.5)
RAUM growth, one year
-2.9%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, hourly, fixed fees, otherreportedItem 5.E
Advisory activities
portfolio management for individuals, selection of other advisersreportedItem 5.G
Wrap fee program
$59.2MreportedItem 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
  • 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$52.7M50%
  • High-net-worth individuals$40.0M38%
  • Charitable organizations$12.0M11%
  • Corporations and businesses$266,0000.3%
Individual clients
324reported
HNW clients
36reported
Pension plan clients
n/areported
Charitable clients
1reported
Accounts
766reported
Financial planning clients
n/areported
Wrap fee programs
$0 sponsored, $0 managedreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourlyreported
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
Every departureEvery arrival
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • Jay Kevin Hermening · Managing Membercontrol
    since 02/2005 · owns 75% or more
  • Annette Kimberly Payne · Chief Compliance Officercontrol
    since 02/2007 · owns less than 5%
Related persons
Schedule D 7.A
  • Hermening Financial Group, LLC
    real estaten
Offices
Schedule D 1.F, the 25 largest
  • Eau Claire, WI1 employees
  • Manitowoc, WI1 employees
  • Orrville, OH1 employees
  • Stevens Point, WI1 employees
  • Wisconsin Rapids, WI1 employees
What changed
consecutive filings, newest first
  • Accounts · 1,168 to 766
    Mar 9, 2017 to Mar 14, 2018
  • Charity clients · unset to 1.0
    Mar 9, 2017 to Mar 14, 2018
  • Corporate clients · unset to 1.0
    Mar 9, 2017 to Mar 14, 2018
  • HNW clients · unset to 36.0
    Mar 9, 2017 to Mar 14, 2018
  • Individual clients · unset to 324.0
    Mar 9, 2017 to Mar 14, 2018
  • Insurance-licensed employees · 5 to 6
    Mar 9, 2017 to Mar 14, 2018
  • Other offices · unset to 5.0
    Mar 9, 2017 to Mar 14, 2018
  • Discretionary RAUM · $108M to $105M
    Mar 9, 2017 to Mar 14, 2018
  • HNW RAUM · unset to 40000000.0
    Mar 9, 2017 to Mar 14, 2018
  • Individual RAUM · unset to 52704000.0
    Mar 9, 2017 to Mar 14, 2018
  • RAUM · $108M to $105M
    Mar 9, 2017 to Mar 14, 2018
  • Wrap assets (manager) · unset to 0.0
    Mar 9, 2017 to Mar 14, 2018
  • Wrap assets (sponsor) · unset to 0.0
    Mar 9, 2017 to Mar 14, 2018
  • Accounts · 918 to 1,168
    Apr 12, 2016 to Mar 9, 2017
  • Advisory employees · 6 to 7
    Apr 12, 2016 to Mar 9, 2017
  • BD registered reps · 7 to 8
    Apr 12, 2016 to Mar 9, 2017
  • Employees · 7 to 8
    Apr 12, 2016 to Mar 9, 2017
  • State-registered IARs · 5 to 6
    Apr 12, 2016 to Mar 9, 2017
  • Discretionary RAUM · $95.6M to $108M
    Apr 12, 2016 to Mar 9, 2017
  • RAUM · $95.6M to $108M
    Apr 12, 2016 to Mar 9, 2017
  • Accounts · 996 to 918
    Apr 13, 2015 to Mar 17, 2016
  • Business name · HERMENING ADVISORY SERVICES LLC to HERMENING FINANCIAL GROUP LLC
    Apr 13, 2015 to Mar 17, 2016
  • Discretionary RAUM · $93.3M to $95.6M
    Apr 13, 2015 to Mar 17, 2016
  • RAUM · $93.3M to $95.6M
    Apr 13, 2015 to Mar 17, 2016
  • Accounts · 1,079 to 996
    Dec 24, 2014 to Mar 24, 2015
  • Advisory employees · 8 to 6
    Dec 24, 2014 to Mar 24, 2015
  • BD registered reps · 9 to 7
    Dec 24, 2014 to Mar 24, 2015
  • Employees · 9 to 7
    Dec 24, 2014 to Mar 24, 2015
  • Insurance-licensed employees · 7 to 5
    Dec 24, 2014 to Mar 24, 2015
  • State-registered IARs · 7 to 5
    Dec 24, 2014 to Mar 24, 2015
  • Discretionary RAUM · $95.8M to $93.3M
    Dec 24, 2014 to Mar 24, 2015
  • RAUM · $95.8M to $93.3M
    Dec 24, 2014 to Mar 24, 2015
  • Accounts · 1,143 to 1,079
    Apr 1, 2013 to Mar 12, 2014
  • Advisory employees · 11 to 8
    Apr 1, 2013 to Mar 12, 2014
  • Advisory activities · 3 to 2
    Apr 1, 2013 to Mar 12, 2014
  • BD registered reps · 12 to 9
    Apr 1, 2013 to Mar 12, 2014
  • Employees · 12 to 9
    Apr 1, 2013 to Mar 12, 2014
  • Insurance-licensed employees · 9 to 7
    Apr 1, 2013 to Mar 12, 2014
  • Financial planning clients · 1-10 to unset
    Apr 1, 2013 to Mar 12, 2014
  • State-registered IARs · 10 to 7
    Apr 1, 2013 to Mar 12, 2014
Signals
No event on the tape.
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