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
Clarkston Capital Partners, LLC
Latest filing Jul 29, 2026
First filing on the tape Mar 21, 2012 · 56 filings
SEC status approved since Mar 22, 2007
RAUM
$1.7B
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
11%
$193M individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$285M
derived; firm RAUM over IAPD count
Employees
21
12 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
1
reported on Schedule D
History
56 filings and snapshots on the tape
RAUM$1.7B as of Jul 29, 2026
Mar 21, 2012$150M then
HNW client RAUM$116M as of Jul 29, 2026
Mar 30, 2018$601M then
State-registered IARs (5.B.3)8 as of Jul 29, 2026
Feb 11, 20134 then
Employees (5.A)21 as of Jul 29, 2026
Feb 11, 20139 then
Private funds1 as of Jul 29, 2026
Mar 28, 20171 then
RAUM -75% over the last fiscal year-36% a year over threeIARs 14 to 8offices 2 to 0
Practice profile
derived from the filing of Jul 29, 2026; every figure names its basis
- RAUM per advisor
- $285MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 21derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $6.8MderivedHNW RAUM over HNW clients
- Average account
- $4.9MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 99%derivedof RAUM
- Institutional
- 28%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 3.5derivedItem 5.A over advisors
- Advisors per office
- 6.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- -75%derivedbetween the last two annual amendments
- Advisor growth, one year
- -43%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -85%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, portfolio management for investment companiesreportedItem 5.G
- Wrap fee program
- participatesreportedItem 5.I
- Custody
- $281M, 138 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- 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
- Investment companies$756M44%
- State and municipal entities$245M14%
- Pension and profit-sharing plans$215M13%
- Other investment advisers$161M9.4%
- Pooled investment vehicles$123M7.2%
- High-net-worth individuals$116M6.8%
- Individuals$76.7M4.5%
- Charitable organizations$12.6M0.7%
- Corporations and businesses$5.5M0.3%
- Individual clients
- 106reported
- HNW clients
- 17reported
- Pension plan clients
- 5reported
- Charitable clients
- 2reported
- Accounts
- 347reported
- Financial planning clients
- reported
- Wrap fee programs
- $0 sponsored, $907,587 managedreported
- Custody of client assets
- $281M for 138 clientsreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.11 fund_share=0.61 institutional_share=0.28 related_bd=false related_bank=false bd_reps=6.0derived
Advisors registered through the firm
6 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Cheryl Ann KassabCertified Financial Planner | Rochester, Mi | Jun 5, 2013 | 17 y | 0 |
| Kurt P Terrien | Rochester, Mi | Jul 20, 2017 | 13 y | 0 |
| Christopher Ryan Klau | Rochester, Mi | Feb 14, 2018 | 25 y | 0 |
| Jeffrey Anthony HakalaChartered Financial Analyst | Rochester, Mi | Dec 7, 2023 | 19 y | 2 |
| Gerald Wayne HakalaChartered Financial Analyst | Rochester, Mi | Dec 7, 2023 | 19 y | 1 |
| Connor Erick Kruse | Bloomfield Hills, Mi | Sep 17, 2024 | 11 y | 0 |
Advisor movement
6 left, 0 joined in 12 months
net -6 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 100% of current headcount8 left over 36 months
Left, latest
- Matthew J Rodgers to Vest Financial LLCMay 4, 2026 · Other
- Rebecca Gail Wagner to Arq Wealth Advisors, LLCApr 15, 2026 · Other
- Jeffrey Edward Shiffra to Arq Wealth Advisors, LLCApr 15, 2026 · Other
- Alexander W Strek to Modell Capital Management LLCFeb 10, 2026 · Other
- Jeremy Joseph Modell to Modell Capital Management LLCFeb 10, 2026 · Other
- Jake Mitchell Powers to Modell Capital Management LLCFeb 10, 2026 · Other
- William Darrell Lee to Arq Wealth Advisors, LLCJul 1, 2025 · RIA to RIA
- Steven Robert Nelson to Blueprint Investment Partners LLCJan 9, 2024 · Other
- Joseph Ryan Ashmore to Heron Bay Capital ManagementMar 19, 2020 · RIA to RIA
- Jeffrey Anthony Hakala to Corecap AdvisorsOct 9, 2007 · Other
Joined, latest
- Jeffrey Anthony Hakala from Corecap AdvisorsDec 7, 2023 · Other
- Jeffrey Edward Shiffra from Ironwood Investment Counsel, LLCJan 26, 2021 · RIA to RIA
- William Darrell Lee from Ironwood Investment Counsel, LLCJan 25, 2021 · RIA to RIA
- Matthew J Rodgers from Morgan StanleyMar 30, 2020 · Wirehouse to independent RIA
- Joseph Ryan Ashmore from Pinnacle Wealth Management Group, Inc.Mar 31, 2018 · RIA to RIA
- Alexander W Strek from Morgan StanleyMar 26, 2015 · Other
- Jeremy Joseph Modell from R.H. Bluestein & Co LLCNov 16, 2011 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 3 left for Modell Capital Management LLCFeb 10, 2026 · Bloomfield Hills, Mi
- 2 joined from Ironwood Investment Counsel, LLCDec 31, 2020 · Phoenix, Az
Private funds
2 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Bbh Clarkston Small/Mid Cap Master Fund, LP | Other Private Fund | $1.0B | 1,322 | Mar 28, 2017 |
| Clarkston Qv Fund, LP | Other Private Fund | $31.3M | 34 | Mar 31, 2023 |
Owners and control persons
Schedule A and B, latest filing
- Wayne Gerald Hakala · Manager; Managing Director, Clarkston Capital Divisioncontrolsince 12/2018 · owns less than 5%
- Anthony Jeffrey Hakala · Manager; Chief Executive Officercontrolsince 12/2018 · owns less than 5%
- Joseph Jeremy Modell · Manager; Managing Director, Clarkston Private Client Divisioncontrolsince 12/2018 · owns less than 5%
- Wayne Gerald Hakala · Shareholdercontrolsince 12/2018 · owns 25% to 50% of Clarkston Companies, Inc.
- Anthony Jeffrey Hakala · Shareholdercontrolsince 12/2018 · owns 25% to 50% of Clarkston Companies, Inc.
- Joseph Jeremy Modell · Trusteecontrolsince 11/2003 · owns 75% or more of Jeremy J Modell Revocable Living Trust Dtd 11/06/2003
- Steven Jeremy Michalski · Chief Financial Officersince 09/2024 · owns less than 5%
- Mayo Melanie West · Chief Compliance Officersince 01/2023 · owns less than 5%
Entity owners
- Clarkston Companies, Inc. · Member Of LLCdirect · owns 75% or more
- Modell Capital LLC · Member Of LLCdirect · owns 10% to 25%
- Jeremy J Modell Revocable Living Trust Dtd 11/06/2003 · Member Of LLCindirect · owns 75% or more of Modell Capital LLC
Related persons
Schedule D 7.A
- Clarkston Qv Fund Gp, LLCpooled vehicle sponsory
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Rochester, Mi · principal | 6 | 0 | 3 | ||
| Bloomfield Hills, Mi | 0 | 0 | 2 | 1 | |
| Scottsdale, Az | 0 | 0 | 1 |
Offices
Schedule D 1.F, the 25 largest
- Bloomfield Hills, MI3 employees
- Scottsdale, AZ3 employees
ADV anomalies
11 against comparable advisers; where to look, not conclusions
- clients down average size upCombination · filing Mar 31, 2026private clients fell 20 percent or more while RAUM per client rose 30 percent or more: a move up-market or the departure of small accounts. RAUM $6,769,151,197 to $1,711,067,610, advisors 14 to 8, private clients 801 to 123, offices 2 to 0 (2025-04-25 to 2026-03-31)peers: other advisers, $1B to $5B (247)
- wealth to institutional shiftCombination · filing Mar 31, 2026private-client share fell 15 points or more while institutional share rose 15 points or more. RAUM $6,769,151,197 to $1,711,067,610, advisors 14 to 8, private clients 801 to 123, offices 2 to 0 (2025-04-25 to 2026-03-31)peers: other advisers, $1B to $5B (247)
- account count collapseChange between filings · filing Mar 31, 2026accounts (Item 5.F.2.f) moved from 1,795.0 to 347.0 (-81.0%) between the annual amendments of 2025-04-25 and 2026-03-31; the peer median change was +1.0% (56 comparable advisers, 2.0th percentile of changes)peers: other advisers, $1B to $5B (56) · 1.8% percentile
- advisor count dropChange between filings · filing Mar 31, 2026advisory representatives (Item 5.B.3) moved from 14.0 to 8.0 (-43.0%) between the annual amendments of 2025-04-25 and 2026-03-31; the peer median change was 0.0% (44 comparable advisers, 7.0th percentile of changes)peers: other advisers, $1B to $5B (44) · 7.0% percentile
- client count collapseChange between filings · filing Mar 31, 2026individual and HNW clients (Item 5.D) moved from 801.0 to 123.0 (-85.0%) between the annual amendments of 2025-04-25 and 2026-03-31; the peer median change was 0.0% (37 comparable advisers, 3.0th percentile of changes)peers: other advisers, $1B to $5B (37) · 2.8% percentile
- client mix shiftChange between filings · filing Mar 31, 2026private-client share of RAUM moved from 32.0% to 11.0% between the annual amendments of 2025-04-25 and 2026-03-31peers: other advisers, $1B to $5B (247)
- discretionary share shiftChange between filings · filing Mar 31, 2026discretionary share of RAUM moved from 1.0% to 99.0% between the annual amendments of 2025-04-25 and 2026-03-31peers: other advisers, $1B to $5B (247)
- employee count dropChange between filings · filing Mar 31, 2026employees (Item 5.A) moved from 38.0 to 21.0 (-45.0%) between the annual amendments of 2025-04-25 and 2026-03-31; the peer median change was 0.0% (152 comparable advisers, 3.0th percentile of changes)peers: other advisers, $1B to $5B (152) · 2.6% percentile
- HNW share shiftChange between filings · filing Mar 31, 2026HNW share of RAUM moved from 25.0% to 7.0% between the annual amendments of 2025-04-25 and 2026-03-31peers: other advisers, $1B to $5B (247)
- institutional asset share shiftChange between filings · filing Mar 31, 2026institutional share of RAUM moved from 19.0% to 37.0% between the annual amendments of 2025-04-25 and 2026-03-31peers: other advisers, $1B to $5B (247)
- RAUM down 50 %Change between filings · filing Mar 31, 2026RAUM (Item 5.F) moved from $6,769,151,197 to $1,711,067,610 (-75.0%) between the annual amendments of 2025-04-25 and 2026-03-31; the peer median change was +11.0% (231 comparable advisers, 1.0th percentile of changes)peers: other advisers, $1B to $5B (231) · 1.3% percentile
What changed
consecutive filings, newest first
- Accounts · 712 to 347Feb 10, 2026 to Mar 31, 2026
- Advisory employees · 16 to 12Feb 10, 2026 to Mar 31, 2026
- BD registered reps · 7 to 6Feb 10, 2026 to Mar 31, 2026
- Charity clients · 4 to 2Feb 10, 2026 to Mar 31, 2026
- Corporate clients · 25 to 2Feb 10, 2026 to Mar 31, 2026
- HNW clients · 56 to 17Feb 10, 2026 to Mar 31, 2026
- Individual clients · 288 to 106Feb 10, 2026 to Mar 31, 2026
- Pension plan clients · 7 to 5Feb 10, 2026 to Mar 31, 2026
- Pooled vehicle clients · 3 to 2Feb 10, 2026 to Mar 31, 2026
- Assets in custody · $1.4B to $281MFeb 10, 2026 to Mar 31, 2026
- Employees · 25 to 21Feb 10, 2026 to Mar 31, 2026
- State-registered IARs · 10 to 8Feb 10, 2026 to Mar 31, 2026
- Other offices · 1 to 0Feb 10, 2026 to Mar 31, 2026
- Private funds · 2 to 1Feb 10, 2026 to Mar 31, 2026
- Discretionary RAUM · $3.9B to $1.7BFeb 10, 2026 to Mar 31, 2026
- HNW RAUM · $321M to $116MFeb 10, 2026 to Mar 31, 2026
- Individual RAUM · $183M to $76.7MFeb 10, 2026 to Mar 31, 2026
- Non-discretionary RAUM · $10.0M to $9.2MFeb 10, 2026 to Mar 31, 2026
- Pension RAUM · $217M to $215MFeb 10, 2026 to Mar 31, 2026
- Pooled vehicle RAUM · $949M to $123MFeb 10, 2026 to Mar 31, 2026
- RAUM · $3.9B to $1.7BFeb 10, 2026 to Mar 31, 2026
- Accounts · 1,795 to 712Dec 4, 2025 to Feb 10, 2026
- Advisory employees · 19 to 16Dec 4, 2025 to Feb 10, 2026
- BD registered reps · 8 to 7Dec 4, 2025 to Feb 10, 2026
- Charity clients · 15 to 4Dec 4, 2025 to Feb 10, 2026
- HNW clients · 226 to 56Dec 4, 2025 to Feb 10, 2026
- Individual clients · 575 to 288Dec 4, 2025 to Feb 10, 2026
- Pension plan clients · 20 to 7Dec 4, 2025 to Feb 10, 2026
- Assets in custody · $3.2B to $1.4BDec 4, 2025 to Feb 10, 2026
- Employees · 38 to 25Dec 4, 2025 to Feb 10, 2026
- State-registered IARs · 14 to 10Dec 4, 2025 to Feb 10, 2026
- Other offices · 2 to 1Dec 4, 2025 to Feb 10, 2026
- Discretionary RAUM · $6.7B to $3.9BDec 4, 2025 to Feb 10, 2026
- HNW RAUM · $1.7B to $321MDec 4, 2025 to Feb 10, 2026
- Individual RAUM · $488M to $183MDec 4, 2025 to Feb 10, 2026
- Non-discretionary RAUM · $37.7M to $10.0MDec 4, 2025 to Feb 10, 2026
- Pension RAUM · $398M to $217MDec 4, 2025 to Feb 10, 2026
- Pooled vehicle RAUM · $1.1B to $949MDec 4, 2025 to Feb 10, 2026
- RAUM · $6.8B to $3.9BDec 4, 2025 to Feb 10, 2026
- Related adviser · true to falseDec 4, 2025 to Feb 10, 2026
Signals
14 dated events
- Matthew J Rodgers left Clarkston Capital Partners, Llc for Vest Financial Llc (registered 2026-07-06)May 4, 2026 · Advisor changed firm · fact
- Jeffrey Edward Shiffra left Clarkston Capital Partners, Llc for Arq Wealth Advisors, Llc (registered 2026-04-19)Apr 15, 2026 · Advisor changed firm · fact
- Rebecca Gail Wagner left Clarkston Capital Partners, Llc for Arq Wealth Advisors, Llc (registered 2026-05-29)Apr 15, 2026 · Advisor changed firm · fact
- Clarkston Capital Partners, Llc reported RAUM $1.7B, down 56% from $3.9B (2026-02-10 to 2026-03-31)Mar 31, 2026 · RAUM change · derived
- Alexander W Strek left Clarkston Capital Partners, Llc for Modell Capital Management Llc (registered 2025-12-18)Feb 10, 2026 · Advisor changed firm · fact
- Jeremy Joseph Modell left Clarkston Capital Partners, Llc for Modell Capital Management Llc (registered 2025-12-15)Feb 10, 2026 · Advisor changed firm · fact
- Jake Mitchell Powers left Clarkston Capital Partners, Llc for Modell Capital Management Llc (registered 2025-12-18)Feb 10, 2026 · Advisor changed firm · fact
- Clarkston Capital Partners, Llc reported RAUM $3.9B, down 43% from $6.8B (2025-12-04 to 2026-02-10)Feb 10, 2026 · RAUM change · derived
- 3 advisors left Clarkston Capital Partners, LLC (Bloomfield Hills, MI) for Modell Capital Management LLC on the same dayFeb 10, 2026 · Team lift-out · derived
- William Darrell Lee left Clarkston Capital Partners, Llc for Arq Wealth Advisors, Llc (registered 2025-06-27)Jul 1, 2025 · Advisor changed firm · fact
- Steven Robert Nelson left Clarkston Capital Partners, Llc for Blueprint Investment Partners Llc (registered 2023-05-16)Jan 9, 2024 · Advisor changed firm · fact
- Clarkston Capital Partners, Llc reported RAUM $5.7B, up 27% from $4.5B (2021-01-04 to 2021-03-31)Mar 31, 2021 · RAUM change · derived
- Clarkston Capital Partners, Llc reported RAUM $4.5B, up 31% from $3.4B (2019-12-02 to 2020-03-30)Mar 30, 2020 · RAUM change · derived
- Clarkston Capital Partners, Llc reported RAUM $3.6B, up 25% from $2.9B (2017-09-22 to 2018-03-30)Mar 30, 2018 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
- Clarkston Capital Partners, LLC · Independent Sponsorsshared crd · capital_provider
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/clarkston-capital-partners-llcreportedpublic record, Form ADV, Sep 17, 2026
- Website
- clarkstonpc.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 248-940-3040reportedpublic record, Form ADV, Jul 29, 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
- Other adviserderiveda 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