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

Orca Investment Management, LLC

Independent wealth managerLake Oswego, OregonCRD 144377SEC 801-68050websiteIAPD
Latest filing May 1, 2026
First filing on the tape Mar 28, 2012 · 34 filings
SEC status approved since Jun 25, 2007
RAUM
$212M
reported, Item 5.F
Discretionary
96%
of RAUM
Private clients
97%
$206M individuals and HNW
Advisors
11
registered through the firm on IAPD
RAUM per advisor
$19.2M
derived; firm RAUM over IAPD count
Employees
7
3 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
34 filings and snapshots on the tape
RAUM$212M as of May 1, 2026
Mar 28, 2012$113M then
HNW client RAUM$86.3M as of May 1, 2026
Mar 28, 2018$113M then
State-registered IARs (5.B.3)4 as of May 1, 2026
Mar 28, 20120 then
Employees (5.A)7 as of May 1, 2026
Jan 22, 20136 then
Private funds: no history
RAUM +15% over the last fiscal year+15% a year over threeIARs 3 to 4
Practice profile
derived from the filing of May 1, 2026; every figure names its basis
RAUM per advisor
$19.2MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
33derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.3MderivedHNW RAUM over HNW clients
Average account
$379,991derivedRAUM over accounts (5.F.2.f)
Discretionary
96%derivedof RAUM
Institutional
2.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.6derivedItem 5.A over advisors
Advisors per office
5.5derived2 offices incl. principal (1.F.5)
RAUM growth, one year
+15%derivedbetween the last two annual amendments
Advisor growth, one year
+33%derivedItem 5.B.3 between annual amendments
Client growth, one year
+32%derived
Compensation
percentage of assets, fixed fees, otherreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
Custody
$12.6M, 34 clientsreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Firms absorbed, 24 months
1derivedhalf or more of a firm's advisors moved here within 14 days
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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$119M56%
  • High-net-worth individuals$86.3M41%
  • Charitable organizations$6.0M2.8%
  • Corporations and businesses$137,6580.1%
Individual clients
321reported
HNW clients
38reported
Pension plan clients
n/areported
Charitable clients
5reported
Accounts
557reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$12.6M for 34 clientsreported
Compensation
% of AUM, fixedreported
Class basis
private_client_share=0.97 fund_share=0.0 institutional_share=0.03 related_bd=true related_bank=false bd_reps=1.0derived
Advisors registered through the firm
11 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Shawn Patrick WillardLake Oswego, OrJul 2, 200732 y1
Roger Keith ThomasLake Oswego, OrAug 18, 201025 y1
William George BarhamLake Oswego, OrJan 7, 201344 y1
Harry Lynn StriplinLake Oswego, OrJan 3, 202538 y3
Nicoh Ryan AldayWalnut Creek, CaMar 12, 202613 y1
David Allen MaiselPortland, OrMar 19, 202638 y1
Peter Raymond FogartyWalnut Creek, CaMar 20, 202637 y3
John Anthony NoleLake Oswego, Or Apr 8, 202639 y6
Nicholas Dimitri LailasNew York, NyMay 1, 202614 y2
Heather Honey DavisPortland, OrAug 27, 202626 y0
Carl Van Bergen RylanderLake Mary, Fl Sep 9, 202612 y2
Advisor movement
0 left, 6 joined in 12 months
net +6 in 12 months0 left in 90 days1 joined in 90 daysdeparture rate 0.0% of current headcount0 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
    • Patrick Shawn Willard · Manager, Chief Compliance Officercontrol
      since 01/2024 · owns less than 5%
    Entity owners
    • Paulson Capital Holding Company, LLC · Owner
      direct · owns 75% or more
    Related persons
    Schedule D 7.A
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Lake Oswego, Or · principal620
    Portland, Or220
    Walnut Creek, Ca220
    Offices
    Schedule D 1.F, the 25 largest
    • Lake Oswego, OR3 employees
    What changed
    consecutive filings, newest first
    • Accounts · 589 to 557
      Jun 18, 2025 to Mar 3, 2026
    • Charity clients · unset to 5.0
      Jun 18, 2025 to Mar 3, 2026
    • HNW clients · 30 to 38
      Jun 18, 2025 to Mar 3, 2026
    • Individual clients · 242 to 321
      Jun 18, 2025 to Mar 3, 2026
    • State-registered IARs · 3 to 4
      Jun 18, 2025 to Mar 3, 2026
    • Discretionary RAUM · $176M to $203M
      Jun 18, 2025 to Mar 3, 2026
    • HNW RAUM · $70.3M to $86.3M
      Jun 18, 2025 to Mar 3, 2026
    • Individual RAUM · $108M to $119M
      Jun 18, 2025 to Mar 3, 2026
    • Non-discretionary RAUM · $7.7M to $9.1M
      Jun 18, 2025 to Mar 3, 2026
    • RAUM · $183M to $212M
      Jun 18, 2025 to Mar 3, 2026
    • Financial planning clients · unset to
      Mar 11, 2025 to Jun 18, 2025
    • Accounts · 557 to 589
      Jan 10, 2025 to Mar 11, 2025
    • BD registered reps · 0 to 1
      Jan 10, 2025 to Mar 11, 2025
    • HNW clients · 45 to 30
      Jan 10, 2025 to Mar 11, 2025
    • Individual clients · 223 to 242
      Jan 10, 2025 to Mar 11, 2025
    • Discretionary RAUM · $161M to $176M
      Jan 10, 2025 to Mar 11, 2025
    • HNW RAUM · $104M to $70.3M
      Jan 10, 2025 to Mar 11, 2025
    • Individual RAUM · $53.3M to $108M
      Jan 10, 2025 to Mar 11, 2025
    • Non-discretionary RAUM · $1.3M to $7.7M
      Jan 10, 2025 to Mar 11, 2025
    • RAUM · $162M to $183M
      Jan 10, 2025 to Mar 11, 2025
    • HQ city · ROSEBURG to LAKE OSWEGO
      May 14, 2024 to Jan 10, 2025
    • Accounts · 563 to 557
      Jan 2, 2024 to Mar 26, 2024
    • HNW clients · 40 to 45
      Jan 2, 2024 to Mar 26, 2024
    • Individual clients · 235 to 223
      Jan 2, 2024 to Mar 26, 2024
    • Assets in custody · $9.6M to $12.6M
      Jan 2, 2024 to Mar 26, 2024
    • Discretionary RAUM · $136M to $161M
      Jan 2, 2024 to Mar 26, 2024
    • HNW RAUM · $82.2M to $104M
      Jan 2, 2024 to Mar 26, 2024
    • Individual RAUM · $50.7M to $53.3M
      Jan 2, 2024 to Mar 26, 2024
    • Non-discretionary RAUM · $1.3M to $1.3M
      Jan 2, 2024 to Mar 26, 2024
    • RAUM · $137M to $162M
      Jan 2, 2024 to Mar 26, 2024
    • State-registered IARs · 4 to 3
      Mar 23, 2023 to Jan 2, 2024
    • Related adviser · false to true
      Mar 23, 2023 to Jan 2, 2024
    • Related broker-dealer · false to true
      Mar 23, 2023 to Jan 2, 2024
    • Accounts · 590 to 563
      Mar 16, 2022 to Mar 23, 2023
    • HNW clients · 50 to 40
      Mar 16, 2022 to Mar 23, 2023
    • Individual clients · 229 to 235
      Mar 16, 2022 to Mar 23, 2023
    • Assets in custody · $9.6M to $9.6M
      Mar 16, 2022 to Mar 23, 2023
    • Discretionary RAUM · $171M to $136M
      Mar 16, 2022 to Mar 23, 2023
    • HNW RAUM · $116M to $82.2M
      Mar 16, 2022 to Mar 23, 2023
    • Individual RAUM · $51.5M to $50.7M
      Mar 16, 2022 to Mar 23, 2023
    Signals
    5 dated events
    • Nicholas Lailas no longer holds an investment adviser registration (last listed at Orca Investment Management, Llc on the 2026-09-16 feed)
      Sep 16, 2026 · Advisor registration ended · derived
    • Paulson Investment Advisors, LLC's advisors moved to Orca Investment Management, LLC (Portland, OR): 3 of 6 registered, on the same day
      Dec 31, 2024 · Firm absorbed (people side) · derived
    • Sue Kimberly Friel (Member, Chief Compliance Officer) no longer on Schedule A of Orca Investment Management, Llc (listed 2023-03-23, absent 2024-01-02)
      Jan 2, 2024 · Control person left · inference
    • Keith Roger Thomas (Member, Fixed Income Portfolio Manager) no longer on Schedule A of Orca Investment Management, Llc (listed 2023-03-23, absent 2024-01-02)
      Jan 2, 2024 · Control person left · inference
    • George William Barham (Member, Senior Portfolio Manager) no longer on Schedule A of Orca Investment Management, Llc (listed 2023-03-23, absent 2024-01-02)
      Jan 2, 2024 · Control person left · inference
    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
    ORCAIM.COMreportedpublic record, Form ADV, Sep 17, 2026
    Principal office phone
    (503)582-9500reportedpublic record, Form ADV, May 1, 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
    $19.2Mderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026