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

Gradient Investments, LLC

Independent wealth managerArden Hills, MinnesotaCRD 141726SEC 801-70812websiteIAPD
Latest filing Sep 2, 2026
First filing on the tape Nov 28, 2011 · 119 filings
SEC status approved since Dec 1, 2009
RAUM
$8.8B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$8.8B individuals and HNW
Advisors
31
registered through the firm on IAPD
RAUM per advisor
$285M
derived; firm RAUM over IAPD count
Employees
41
15 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
119 filings and snapshots on the tape
RAUM$8.8B as of Aug 17, 2026
Mar 20, 2012$211M then
HNW client RAUM$3.4B as of Aug 17, 2026
Mar 7, 2018$322M then
State-registered IARs (5.B.3)15 as of Aug 17, 2026
Mar 11, 20138 then
Employees (5.A)41 as of Aug 17, 2026
Mar 11, 201313 then
Private funds: no history
RAUM +35% over the last fiscal year+30% a year over threeIARs 14 to 15
Practice profile
derived from the filing of Sep 2, 2026; every figure names its basis
Archetypes, each a printed rule
  • Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
RAUM per advisor
$285MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
865derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.7MderivedHNW RAUM over HNW clients
Average account
$110,498derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.1%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.3derivedItem 5.A over advisors
Advisors per office
31.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+25%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+8.2%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisersreportedItem 5.G
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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$5.5B62%
  • High-net-worth individuals$3.4B38%
  • Pension and profit-sharing plans$4.5M0.1%
Individual clients
24,809reported
HNW clients
1,994reported
Pension plan clients
3reported
Charitable clients
n/areported
Accounts
79,966reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixedreported
Class basis
private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=true related_bank=false bd_reps=0.0derived
Advisors registered through the firm
31 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Charles Creig FossLa Grange, Nc Apr 15, 200935 y0
Douglas Victor AmisCertified Financial PlannerDurham, NcFeb 19, 201314 y1
Nicole Shelton AlexanderArden Hills, MnNov 4, 201317 y1
Jonathan Adam VanordenArden Hills, MnDec 10, 201319 y4
Mark Brian FricksMarietta, GaMay 30, 201426 y3
Jenna Lee CairnsArden Hills, Mn Apr 28, 201716 y0
Paige FraaschNewport News, Va Nov 3, 201712 y0
Thomas Henri BraunMatthews, NcAug 6, 201825 y3
Keith Daniel GanglChartered Financial AnalystArden Hills, MnJan 8, 201932 y0
Matthew Phillip AndersonArden Hills, MnFeb 27, 201911 y1
Dwon Lee CliftonRaleigh, Nc Mar 25, 201911 y1
Andrew Paul FischerArden Hills, MnNov 21, 201926 y0
Donald Raymond Delaria, Jr.Fuquay Varina, NcApr 19, 202125 y4
Ernesto De La Torre MarinArden Hills, MnJun 8, 202215 y0
Michael Arthur BingerChartered Financial AnalystArden Hills, MnJan 3, 202314 y0
Kimberly Elizabeth JohnsonArden Hills, MnSep 7, 20239 y1
Cheryl Lynn MccarthyNew Port Richey, Fl Oct 15, 202422 y3
Michael William HughesShoreview, Mn Feb 11, 202511 y0
Dominic Schultz BoggioArden Hills, MnMar 3, 202510 y5
William James RoachGreensboro, Nc May 13, 202538 y1
Felipe Baeza CorreaIndianapolis, In Aug 29, 202512 y2
Abbey RecserMyrtle Beach, Sc Sep 23, 202512 y0
Brittany DanielsonMyrtle Beach, Sc Oct 8, 202515 y0
John Michael InghamArden Hills, MnDec 19, 202512 y1
Tyler Patrick EllegardChartered Financial AnalystArden Hills, MnJan 2, 202612 y3
Paul Jacob HowlandIndianapolis, In Feb 10, 202617 y1
Carter McgrawArden Hills, MnMar 12, 202611 y0
Sean Fredrich StevensonArden Hills, MnApr 8, 202613 y5
Nicholas Alexander WellbrockNewport News, Va May 13, 202613 y1
Thomas John KleinChartered Financial AnalystArden Hills, MnJun 24, 202610 y1
Lamaar Edward SteadmanFort Mill, Sc Aug 11, 202613 y1
Advisor movement
2 left, 5 joined in 12 months
net +3 in 12 months0 left in 90 days2 joined in 90 daysdeparture rate 6.5% of current headcount6 left over 36 months
Left, latest
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
    • Arthur Michael Binger · Presidentcontrol
      since 07/2018 · owns less than 5%
    • Charles Brian Lucius · Membercontrol
      since 05/2013 · owns 25% to 50% of Luson Capital, LLC
    • Edward Charles Lucius · Trusteecontrol
      since 03/2023 · owns 75% or more of Charles E. Lucius Arizona Separate Property Revocable Trust
    • Harrison Chaz Lucius · Membercontrol
      since 05/2013 · owns 25% to 50% of Luson Capital, LLC
    • Edward Cruz Lucius · Membercontrol
      since 05/2013 · owns 25% to 50% of Luson Capital, LLC
    • Edward Nathan Lucius · Trusteecontrol
      since 12/2020 · owns 75% or more of The Nathan E. Lucius Revocable Trust
    • Edward Nathan Lucius · Membercontrol
      since 03/2022 · owns 25% to 50% of Luson Capital, LLC
    • Shelton Nicole Alexander · Chief Compliance Officer
      since 07/2018 · owns less than 5%
    Entity owners
    • Charles E. Lucius Arizona Separate Property Revocable Trust · Member
      direct · owns 75% or more
    • Meraki Private Equity, LLC · Member
      direct · owns 10% to 25%
    • Gradient Distributions, LLC · Member
      direct · owns 10% to 25%
    • Luson Capital, LLC · Member
      direct · owns 10% to 25%
    • The Nathan E. Lucius Revocable Trust · Member
      direct · owns 10% to 25%
    Related persons
    Schedule D 7.A
    • Assentium Insurance Solutions, LLC
      real estaten
    • Core Income Advisors, LLC
      real estaten
    • Gradient Advisors, LLC
      investment advisernRAUM $289M
    • Gradient Assurance, LLC
      real estaten
    • Gradient Financial Group, LLC
      insurancen
    • Gradient Insurance Brokerage, LLC
      real estaten
    • Gradient Wealth Management
      broker-dealerinvestment advisernRAUM $608M
    Advisers that list Gradient Investments, LLC as a related person
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Arden Hills, Mn · principal2182
    Raleigh, Nc210
    Myrtle Beach, Sc220
    Newport News, Va220
    Greensboro, Nc100
    Dublin, Oh000
    Charlotte, Nc000
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    ADV anomalies
    5 against comparable advisers; where to look, not conclusions
    • control person changedChange between filings · filing Sep 2, 2026
      LUCIUS, CHARLES, EDWARD (TRUSTEE) left Schedule A between the filings of 2023-04-21 and 2026-09-02
      peers: independent wealth managers, $5B to $20B (289)
    • control person changedChange between filings · filing Sep 2, 2026
      LUCIUS, BRIAN, CHARLES (MEMBER) left Schedule A between the filings of 2023-04-21 and 2026-09-02
      peers: independent wealth managers, $5B to $20B (289)
    • control person changedChange between filings · filing Sep 2, 2026
      LUCIUS, NATHAN, EDWARD (TRUSTEE) left Schedule A between the filings of 2023-04-21 and 2026-09-02
      peers: independent wealth managers, $5B to $20B (289)
    • control person changedChange between filings · filing Sep 2, 2026
      Lucius, Chaz, Harrison (MEMBER) left Schedule A between the filings of 2023-04-21 and 2026-09-02
      peers: independent wealth managers, $5B to $20B (289)
    • control person changedChange between filings · filing Sep 2, 2026
      Lucius, Cruz, Edward (MEMBER) left Schedule A between the filings of 2023-04-21 and 2026-09-02
      peers: independent wealth managers, $5B to $20B (289)
    How anomalies are measured
    What changed
    consecutive filings, newest first
    • Financial planning clients · to unset
      Aug 17, 2026 to Sep 2, 2026
    • Succession · false to unset
      Aug 17, 2026 to Sep 2, 2026
    • Accounts · 77,311 to 79,966
      Jun 24, 2026 to Aug 17, 2026
    • HNW clients · 1,701 to 1,994
      Jun 24, 2026 to Aug 17, 2026
    • Individual clients · 24,859 to 24,809
      Jun 24, 2026 to Aug 17, 2026
    • Discretionary RAUM · $8.2B to $8.8B
      Jun 24, 2026 to Aug 17, 2026
    • HNW RAUM · $2.8B to $3.4B
      Jun 24, 2026 to Aug 17, 2026
    • Individual RAUM · $5.4B to $5.5B
      Jun 24, 2026 to Aug 17, 2026
    • Pension RAUM · $4.0M to $4.5M
      Jun 24, 2026 to Aug 17, 2026
    • RAUM · $8.2B to $8.8B
      Jun 24, 2026 to Aug 17, 2026
    • Advisory employees · 14 to 15
      Apr 8, 2026 to Jun 24, 2026
    • Employees · 40 to 41
      Apr 8, 2026 to Jun 24, 2026
    • State-registered IARs · 14 to 15
      Apr 8, 2026 to Jun 24, 2026
    • Advisory employees · 15 to 14
      Mar 30, 2026 to Apr 8, 2026
    • State-registered IARs · 15 to 14
      Mar 30, 2026 to Apr 8, 2026
    • Advisory employees · 16 to 15
      Feb 4, 2026 to Mar 30, 2026
    • Advisory activities · 3 to 4
      Feb 4, 2026 to Mar 30, 2026
    • Employees · 41 to 40
      Feb 4, 2026 to Mar 30, 2026
    • State-registered IARs · 16 to 15
      Feb 4, 2026 to Mar 30, 2026
    • Accounts · 76,227 to 77,311
      Jan 2, 2026 to Feb 4, 2026
    • Advisory employees · 15 to 16
      Jan 2, 2026 to Feb 4, 2026
    • HNW clients · 1,615 to 1,701
      Jan 2, 2026 to Feb 4, 2026
    • Individual clients · 24,980 to 24,859
      Jan 2, 2026 to Feb 4, 2026
    • Employees · 40 to 41
      Jan 2, 2026 to Feb 4, 2026
    • Insurance-licensed employees · 0 to 2
      Jan 2, 2026 to Feb 4, 2026
    • State-registered IARs · 15 to 16
      Jan 2, 2026 to Feb 4, 2026
    • Discretionary RAUM · $8.1B to $8.2B
      Jan 2, 2026 to Feb 4, 2026
    • HNW RAUM · $2.7B to $2.8B
      Jan 2, 2026 to Feb 4, 2026
    • Individual RAUM · $5.4B to $5.4B
      Jan 2, 2026 to Feb 4, 2026
    • Pension RAUM · $4.3M to $4.0M
      Jan 2, 2026 to Feb 4, 2026
    • RAUM · $8.1B to $8.2B
      Jan 2, 2026 to Feb 4, 2026
    • Advisory employees · 14 to 15
      Dec 19, 2025 to Jan 2, 2026
    • Employees · 39 to 40
      Dec 19, 2025 to Jan 2, 2026
    • State-registered IARs · 14 to 15
      Dec 19, 2025 to Jan 2, 2026
    • Accounts · 69,105 to 76,227
      Oct 31, 2025 to Dec 19, 2025
    • HNW clients · 1,443 to 1,615
      Oct 31, 2025 to Dec 19, 2025
    • Individual clients · 23,395 to 24,980
      Oct 31, 2025 to Dec 19, 2025
    • Discretionary RAUM · $7.1B to $8.1B
      Oct 31, 2025 to Dec 19, 2025
    • HNW RAUM · $2.3B to $2.7B
      Oct 31, 2025 to Dec 19, 2025
    • Individual RAUM · $4.8B to $5.4B
      Oct 31, 2025 to Dec 19, 2025
    Signals
    21 dated events
    • Benjamin William Sand left Gradient Investments, Llc for Isc Financial Advisors (registered 2026-05-21)
      Apr 7, 2026 · Advisor changed firm · fact
    • 2 advisors left Gradient Advisors, LLC (Shoreview, MN) for Gradient Investments, LLC within 13 days
      Dec 18, 2025 · Team lift-out · derived
    • Tyler Patrick Ellegard left Gradient Investments, Llc for Gradient Advisors, Llc (registered 2025-10-15)
      Oct 6, 2025 · Advisor changed firm · fact
    • Garett Lee Holton left Gradient Investments, Llc for Whichard Roach Financial (registered 2025-06-19)
      Aug 4, 2025 · Advisor changed firm · fact
    • 2 advisors left Gradient Advisors, LLC (Arden Hills, MN) for Gradient Investments, LLC on the same day
      Jun 19, 2025 · Team lift-out · derived
    • Jeremy Michael Bryan left Gradient Investments, Llc for Indiwealth (registered 2025-06-12)
      Apr 18, 2025 · Advisor changed firm · fact
    • Cory Joseph Sickles left Gradient Investments, Llc for Prosperity Asset Management, Llc (registered 2024-11-07)
      Apr 12, 2024 · Advisor changed firm · fact
    • Thomas B. Alvis left Gradient Investments, Llc for Elevated Performance Investment Group, Llc (registered 2017-03-08)
      Dec 20, 2023 · Advisor changed firm · fact
    • Matthew Aaron Bryant left Gradient Investments, Llc for Paladin Financial (registered 2023-07-17)
      May 26, 2023 · Advisor changed firm · fact
    • Jesse Jackson Bradin no longer registered at Gradient Investments, Llc; no later IA registration on IAPD
      Feb 8, 2023 · Advisor departure · fact
    • John Burke Balcerzak left Gradient Investments, Llc for Brookstone Asset Management, Llc (registered 2018-04-05)
      Dec 13, 2022 · Advisor changed firm · fact
    • Shauntae E Funkhouser no longer registered at Gradient Investments, Llc; no later IA registration on IAPD
      Dec 13, 2022 · Advisor departure · fact
    • Sean A Ruggiero left Gradient Investments, Llc for Gradient Advisors, Llc (registered 2022-11-16)
      Sep 20, 2022 · Advisor changed firm · fact
    • Jeffrey Allen Foley left Gradient Investments, Llc for Maggi Investment Services, Llc (registered 2026-06-22)
      May 12, 2022 · Advisor changed firm · fact
    • Trevor Shane Neufeld left Gradient Investments, Llc for Harbour Investments, Inc. (registered 2024-09-11)
      May 11, 2022 · Advisor changed firm · fact
    • Charles Brian Lucius (Member) appeared on Schedule A of Gradient Investments, Llc
      May 10, 2022 · Control person joined · fact
    • Harrison Chaz Lucius (Member) appeared on Schedule A of Gradient Investments, Llc
      May 10, 2022 · Control person joined · fact
    • Edward Cruz Lucius (Member) appeared on Schedule A of Gradient Investments, Llc
      May 10, 2022 · Control person joined · fact
    • Gradient Investments, Llc reported RAUM $4.4B, up 35% from $3.2B (2021-10-26 to 2021-12-10)
      Dec 10, 2021 · RAUM change · derived
    • Gradient Investments, Llc reported RAUM $3.2B, up 25% from $2.6B (2020-09-03 to 2021-02-08)
      Feb 8, 2021 · RAUM change · derived
    • Gradient Investments, Llc reported succeeding to the business of Another Adviser (Form ADV Item 4)
      Sep 25, 2018 · Succession (Item 4) · 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
    Website
    GRADIENTINVESTMENTS.COMreportedpublic record, Form ADV, Sep 17, 2026
    Principal office phone
    888-824-3525reportedpublic record, Form ADV, Sep 2, 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
    $285Mderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026