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
W••••••••• F••••• O•••••
Legal name W••••••••• F•••••••• A•••••••• L••
Latest filing Jun 23, 2026
First filing on the tape Mar 29, 2012 · 33 filings
SEC status approved since Mar 15, 2007
RAUM
$5.1B
reported, Item 5.F
Discretionary
33%
of RAUM
Private clients
99%
$5.0B individuals and HNW
Advisors
9
registered through the firm on IAPD
RAUM per advisor
$562M
derived; firm RAUM over IAPD count
Employees
31
11 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
33 filings and snapshots on the tape
RAUM$5.1B as of Jun 23, 2026
Mar 29, 2012$864M then
HNW client RAUM$4.9B as of Jun 23, 2026
Mar 29, 2018$1.2B then
State-registered IARs (5.B.3)4 as of Jun 23, 2026
Mar 29, 20120 then
Employees (5.A)31 as of Jun 23, 2026
Apr 1, 20139 then
Private funds: no history
RAUM +20% over the last fiscal year+29% a year over threeIARs 7 to 4
Practice profile
derived from the filing of Jun 23, 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
- Multi-family-office-like · private-client share at least 50 percent, HNW at least 90 percent of private-client RAUM, average HNW client assets at least $25M, fewer than 200 HNW clients, and business name contains 'family office' or private funds are reported
- UHNW private wealth · private-client share at least 50 percent, HNW at least 90 percent of private-client RAUM, and average HNW client assets at least $10M
- RAUM per advisor
- $562MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 15derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $41.8MderivedHNW RAUM over HNW clients
- Average account
- $2.5MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 33%derivedof RAUM
- Institutional
- 0.9%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 3.4derivedItem 5.A over advisors
- Advisors per office
- 9.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +20%derivedbetween the last two annual amendments
- Advisor growth, one year
- -43%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +3.0%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, selection of other advisers, otherreportedItem 5.G
- Custody
- $215M, 81 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)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$4.9B98%
- Individuals$81.3M1.6%
- Charitable organizations$44.2M0.9%
- Individual clients
- 21reported
- HNW clients
- 118reported
- Pension plan clients
- n/areported
- Charitable clients
- 9reported
- Accounts
- 2,051reported
- Financial planning clients
- 101-250reported
- Wrap fee programs
- noreported
- Custody of client assets
- $215M for 81 clientsreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=0.99 fund_share=0.0 institutional_share=0.01 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
9 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| M•••••• T••••• N••••Personal Financial Specialist | Cleveland, Oh | May 22, 2007 | 21 y | 1 |
| R•••••• J••••• T••••••Chartered Financial Analyst | Cleveland, Oh | Jan 3, 2018 | 32 y | 0 |
| W•••••• J••••• A•••••••Certified Financial Planner | Cleveland, Oh | Jan 17, 2018 | 10 y | 0 |
| K•••••• E• M••••••Certified Financial Planner | Cleveland, Oh | Jan 17, 2018 | 12 y | 0 |
| A••• V•••••Certified Financial Planner | Cleveland, Oh | Jul 17, 2026 | 12 y | 1 |
| J••••••• R• S•••••Certified Financial Planner | Cleveland, Oh | Jul 29, 2026 | 10 y | 0 |
| A••••• S•••• D••••••Certified Financial Planner | Cleveland, Oh | Jul 31, 2026 | 10 y | 0 |
| E••• M• H••••Certified Financial Planner | Fairview Park, Oh | Aug 14, 2026 | 10 y | 0 |
| A••••• J••• S••••••••Certified Financial Planner | Cleveland, Oh | Aug 27, 2026 | 10 y | 0 |
Advisor movement
2 left, 1 joined in 12 months
net -1 in 12 months0 left in 90 days1 joined in 90 daysdeparture rate 22% of current headcount2 left over 36 months
Left, latest
- H•••• M••••••• C••••• to S•••••• F•••••••• G••••• L•••••Jan 6, 2026 · RIA to RIA
- J•••• J••••• S••••• to C••••••Jan 6, 2026 · RIA to RIA
Joined, latest
- A••• V••••• from K•• I••••••••• S••••••• L••Jul 17, 2026 · Affiliated broker-dealer or bank to independent RIA
- J•••• J••••• S••••• from P••••• M•••• F•••••••• A•••••••Jan 8, 2020 · Other
- M•••••• T••••• N•••• from C•••• F•••••••• C•••May 22, 2007 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- C•••••••• L••••• A•• · Chief Compliance Officercontrolsince 01/2007 · owns 5% to 10%
- K•••••• J••••••• D• · President & Coocontrolsince 09/2024 · owns less than 5%
- N••••• M••••••• T••••• · Managing Directorcontrolsince 01/2007 · owns 50% to 75%
- S•••••• J••••••• · Directorsince 01/2021 · owns 10% to 25%
- T••••••• R••••••• J••••• · Directorsince 04/2016 · owns 10% to 25%
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 |
|---|---|---|---|---|---|
| Cleveland, Oh · principal | 9 | 5 | 2 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- advisor count dropChange between filings · filing Mar 17, 2026advisory representatives (Item 5.B.3) moved from 7.0 to 4.0 (-43.0%) between the annual amendments of 2025-03-21 and 2026-03-17; the peer median change was +6.0% (220 comparable advisers, 4.0th percentile of changes)peers: independent wealth managers, $5B to $20B (220) · 3.7% percentile
What changed
consecutive filings, newest first
- Business name · W••••••••• F•••••••• A•••••••• L•• to W••••••••• F••••• O•••••Mar 17, 2026 to Jun 23, 2026
- Accounts · 1,551 to 2,051Jan 26, 2026 to Mar 17, 2026
- Advisory employees · 13 to 11Jan 26, 2026 to Mar 17, 2026
- HNW clients · 115 to 118Jan 26, 2026 to Mar 17, 2026
- Individual clients · 20 to 21Jan 26, 2026 to Mar 17, 2026
- Assets in custody · $208M to $215MJan 26, 2026 to Mar 17, 2026
- Employees · 37 to 31Jan 26, 2026 to Mar 17, 2026
- State-registered IARs · 7 to 4Jan 26, 2026 to Mar 17, 2026
- Discretionary RAUM · $1.4B to $1.6BJan 26, 2026 to Mar 17, 2026
- HNW RAUM · $4.1B to $4.9BJan 26, 2026 to Mar 17, 2026
- Individual RAUM · $65.6M to $81.3MJan 26, 2026 to Mar 17, 2026
- Non-discretionary RAUM · $2.8B to $3.4BJan 26, 2026 to Mar 17, 2026
- RAUM · $4.2B to $5.1BJan 26, 2026 to Mar 17, 2026
- Accounts · 1,630 to 1,551Sep 23, 2024 to Mar 21, 2025
- Advisory employees · 11 to 13Sep 23, 2024 to Mar 21, 2025
- Charity clients · 6 to 9Sep 23, 2024 to Mar 21, 2025
- HNW clients · 112 to 115Sep 23, 2024 to Mar 21, 2025
- Assets in custody · $173M to $208MSep 23, 2024 to Mar 21, 2025
- Employees · 26 to 37Sep 23, 2024 to Mar 21, 2025
- Financial planning clients · 101-250 to 101-250Sep 23, 2024 to Mar 21, 2025
- Discretionary RAUM · $981M to $1.4BSep 23, 2024 to Mar 21, 2025
- HNW RAUM · $3.5B to $4.1BSep 23, 2024 to Mar 21, 2025
- Individual RAUM · $57.3M to $65.6MSep 23, 2024 to Mar 21, 2025
- Non-discretionary RAUM · $2.6B to $2.8BSep 23, 2024 to Mar 21, 2025
- RAUM · $3.6B to $4.2BSep 23, 2024 to Mar 21, 2025
- Accounts · 1,186 to 1,630Jan 4, 2024 to Mar 14, 2024
- Charity clients · 5 to 6Jan 4, 2024 to Mar 14, 2024
- HNW clients · 86 to 112Jan 4, 2024 to Mar 14, 2024
- Individual clients · 23 to 20Jan 4, 2024 to Mar 14, 2024
- Assets in custody · $63.1M to $173MJan 4, 2024 to Mar 14, 2024
- Employees · 21 to 26Jan 4, 2024 to Mar 14, 2024
- State-registered IARs · 5 to 7Jan 4, 2024 to Mar 14, 2024
- Discretionary RAUM · $687M to $981MJan 4, 2024 to Mar 14, 2024
- HNW RAUM · $2.2B to $3.5BJan 4, 2024 to Mar 14, 2024
- Individual RAUM · $99.7M to $57.3MJan 4, 2024 to Mar 14, 2024
- Non-discretionary RAUM · $1.7B to $2.6BJan 4, 2024 to Mar 14, 2024
- RAUM · $2.3B to $3.6BJan 4, 2024 to Mar 14, 2024
- Accounts · 1,014 to 1,186Dec 2, 2022 to Mar 10, 2023
- Advisory employees · 10 to 11Dec 2, 2022 to Mar 10, 2023
- Charity clients · unset to 5.0Dec 2, 2022 to Mar 10, 2023
Signals
6 dated events
- J•••• J••••• S••••• left W••••••••• F••••• O••••• for Corient (registered 2026-02-19)Jan 6, 2026 · Advisor changed firm · fact
- H•••• M••••••• C••••• left W••••••••• F••••• O••••• for S•••••• F•••••••• G••••• L••••• (registered 2025-10-07)Jan 6, 2026 · Advisor changed firm · fact
- D Jeffrey Kadlic (President & Coo) appeared on Schedule A of W••••••••• F••••• O•••••Sep 23, 2024 · Control person joined · fact
- W••••••••• F••••• O••••• reported RAUM $3.6B, up 55% from $2.3B (2024-01-04 to 2024-03-14)Mar 14, 2024 · RAUM change · derived
- W••••••••• F••••• O••••• reported RAUM $2.4B, up 26% from $1.9B (2022-01-24 to 2022-03-11)Mar 11, 2022 · RAUM change · derived
- Teresa Hedwig Demsey (Director) no longer on Schedule A of W••••••••• F••••• O••••• (listed 2021-03-22, absent 2021-04-13)Apr 13, 2021 · Control person left · inference
Across DFX
shared identifiers only, never a name match
- W••••••••• F•••••••• A•••••••• L•• · Private Equityshared crd · intermediary
How to reach
public business contact points only, each with its source
- Business phone
- 216-367-0680reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- H•••S://WWW.LINKEDIN.COM/COMPANY/W•••••••••-FINANCIAL-ADVISOreportedpublic record, Form ADV, Sep 18, 2026
- Website
- H•••••••••reportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 216-367-0680reportedpublic record, Form ADV, Jun 23, 2026
- Contact form
- wellspringfo.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- wellspringfo.com/who-we-are/our-teamreportedpublished by the firm, firm site, Sep 15, 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
- $562Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026