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
Q••••••••• A•••• M••••••••• L••
Latest filing Mar 27, 2026
First filing on the tape Feb 1, 2012 · 21 filings
SEC status approved since Mar 15, 2007
RAUM
$187M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
93%
$174M individuals and HNW
Advisors
2
registered through the firm on IAPD
RAUM per advisor
$93.7M
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
21 filings and snapshots on the tape
RAUM$187M as of Mar 27, 2026
Feb 1, 2012$94.1M then
HNW client RAUM$138M as of Mar 27, 2026
Jan 29, 2018$95.8M then
State-registered IARs (5.B.3)2 as of Mar 27, 2026
Feb 1, 20120 then
Employees (5.A)2 as of Mar 27, 2026
Feb 11, 20131 then
Private funds1 as of Jan 29, 2018
Feb 5, 20151 then
RAUM +15% over the last fiscal year+7.0% a year over threeIARs 2 to 2
Practice profile
derived from the filing of Mar 27, 2026; every figure names its basis
Archetypes, each a printed rule
- Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
- RAUM per advisor
- $93.7MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 77derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.1MderivedHNW RAUM over HNW clients
- Average account
- $1.2MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 7.1%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
- +15%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -13%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- portfolio management for individualsreportedItem 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
- is a broker-dealer (6.A.1)
- 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)
- 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
- High-net-worth individuals$138M74%
- Individuals$36.1M19%
- Charitable organizations$13.4M7.1%
- Individual clients
- 109reported
- HNW clients
- 44reported
- Pension plan clients
- n/areported
- Charitable clients
- 2reported
- Accounts
- 155reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.93 fund_share=0.0 institutional_share=0.07 related_bd=true 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 |
|---|---|---|---|---|
| J•••••• L•• F•••• | Minnetonka, Mn | Apr 18, 2007 | 46 y | 1 |
| J••• C• F•••• | Minnetonka, Mn | Oct 22, 2015 | 25 y | 1 |
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
- J••• C• F•••• from R•• C•••••• M••••••• L••Oct 22, 2015 · Other
- J•••••• L•• F•••• from R•• C•••••• M••••••• L••Apr 18, 2007 · Other
Private funds
1 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Q• P•••••••no longer reported | Hedge Fund | $2.3M | 1 | Jan 27, 2015 |
Owners and control persons
Schedule A and B, latest filing
- F••••• J••••••• L•• · Managing Member/Presidentcontrolsince 01/2007 · owns 25% to 50%
- F••••• P•••••••• C•••••••• · Inactive Ownercontrolsince 04/2007 · owns 50% to 75%
- F••••• J•••• C• · Executive Vice President / Investment Advisor / Chief Compliance Officersince 09/2015 · owns less than 5%
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 |
|---|---|---|---|---|---|
| Minnetonka, Mn · principal | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 176 to 155Mar 13, 2025 to Mar 27, 2026
- Charity clients · 1 to 2Mar 13, 2025 to Mar 27, 2026
- HNW clients · 39 to 44Mar 13, 2025 to Mar 27, 2026
- Individual clients · 136 to 109Mar 13, 2025 to Mar 27, 2026
- Discretionary RAUM · $164M to $187MMar 13, 2025 to Mar 27, 2026
- HNW RAUM · $112M to $138MMar 13, 2025 to Mar 27, 2026
- Individual RAUM · $39.3M to $36.1MMar 13, 2025 to Mar 27, 2026
- RAUM · $164M to $187MMar 13, 2025 to Mar 27, 2026
- Accounts · 179 to 176Feb 7, 2024 to Mar 13, 2025
- Charity clients · 2 to 1Feb 7, 2024 to Mar 13, 2025
- HNW clients · 37 to 39Feb 7, 2024 to Mar 13, 2025
- Individual clients · 133 to 136Feb 7, 2024 to Mar 13, 2025
- Financial planning clients · 0 to 0Feb 7, 2024 to Mar 13, 2025
- HQ city · WAYZATA to MINNETONKAFeb 7, 2024 to Mar 13, 2025
- Discretionary RAUM · $172M to $164MFeb 7, 2024 to Mar 13, 2025
- HNW RAUM · $118M to $112MFeb 7, 2024 to Mar 13, 2025
- Individual RAUM · $36.8M to $39.3MFeb 7, 2024 to Mar 13, 2025
- RAUM · $172M to $164MFeb 7, 2024 to Mar 13, 2025
- Accounts · 357 to 179Mar 3, 2023 to Feb 7, 2024
- Individual clients · 142 to 133Mar 3, 2023 to Feb 7, 2024
- Discretionary RAUM · $153M to $172MMar 3, 2023 to Feb 7, 2024
- HNW RAUM · $98.5M to $118MMar 3, 2023 to Feb 7, 2024
- Individual RAUM · $38.8M to $36.8MMar 3, 2023 to Feb 7, 2024
- RAUM · $153M to $172MMar 3, 2023 to Feb 7, 2024
- Accounts · 193 to 357Feb 1, 2022 to Mar 3, 2023
- Charity clients · 1 to 2Feb 1, 2022 to Mar 3, 2023
- HNW clients · 35 to 37Feb 1, 2022 to Mar 3, 2023
- Individual clients · 158 to 142Feb 1, 2022 to Mar 3, 2023
- Discretionary RAUM · $163M to $153MFeb 1, 2022 to Mar 3, 2023
- HNW RAUM · $126M to $98.5MFeb 1, 2022 to Mar 3, 2023
- Individual RAUM · $26.6M to $38.8MFeb 1, 2022 to Mar 3, 2023
- RAUM · $163M to $153MFeb 1, 2022 to Mar 3, 2023
- Accounts · 315 to 193Sep 1, 2021 to Feb 1, 2022
- Charity clients · 2 to 1Sep 1, 2021 to Feb 1, 2022
- HNW clients · 29 to 35Sep 1, 2021 to Feb 1, 2022
- Individual clients · 284 to 158Sep 1, 2021 to Feb 1, 2022
- Discretionary RAUM · $150M to $163MSep 1, 2021 to Feb 1, 2022
- HNW RAUM · $95.0M to $126MSep 1, 2021 to Feb 1, 2022
- Individual RAUM · $47.0M to $26.6MSep 1, 2021 to Feb 1, 2022
- RAUM · $150M to $163MSep 1, 2021 to Feb 1, 2022
Signals
No event on the tape.
Across DFX
shared identifiers only, never a name match
- Q••••••••• A•••• M••••••••• L•• · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Business phone
- 952-476-7855reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- w••.q•••••.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 952-476-7855reportedpublic record, Form ADV, Mar 27, 2026
- Contact form
- q•••••.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
- $93.7Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026