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
Reap Financial Group, LLC
Latest filing Aug 20, 2026
First filing on the tape Mar 10, 2020 · 24 filings
SEC status approved since Apr 14, 2020
RAUM
$648M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$646M individuals and HNW
Advisors
7
registered through the firm on IAPD
RAUM per advisor
$92.6M
derived; firm RAUM over IAPD count
Employees
28
6 advisory (5.B.1)
Offices
3
beyond the principal office
Private funds
0
reported on Schedule D
History
24 filings and snapshots on the tape
RAUM$648M as of Aug 20, 2026
Apr 15, 2021$235M then
HNW client RAUM$308M as of Aug 20, 2026
Apr 15, 2021$156M then
State-registered IARs (5.B.3)6 as of Aug 20, 2026
Apr 15, 20216 then
Employees (5.A)28 as of Aug 20, 2026
Apr 15, 202113 then
Private funds: no history
RAUM +27% over the last fiscal year+19% a year over threeIARs 7 to 6
Practice profile
derived from the filing of Aug 20, 2026; every figure names its basis
- RAUM per advisor
- $92.6MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 183derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.9MderivedHNW RAUM over HNW clients
- Average account
- $179,170derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 4.0derivedItem 5.A over advisors
- Advisors per office
- 1.8derived4 offices incl. principal (1.F.5)
- RAUM growth, one year
- +27%derivedbetween the last two annual amendments
- Advisor growth, one year
- -14%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +5.5%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, selection of other advisers, educational seminarsreportedItem 5.G
- Custody
- $53.6M, 134 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)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Individuals$338M52%
- High-net-worth individuals$308M48%
- Corporations and businesses$2.4M0.4%
- Individual clients
- 1,121reported
- HNW clients
- 163reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 3,618reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- $53.6M for 134 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
7 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Hannah Sandra Heerlein | Austin, Tx | Jan 27, 2010 | 18 y | 0 |
| Christopher Brent Heerlein | Austin, Tx | Oct 2, 2015 | 13 y | 0 |
| Leah Joy Newman | Georgetown, Tx | Sep 9, 2016 | 23 y | 0 |
| Christopher John Hundl | Austin, Tx | May 14, 2018 | 19 y | 0 |
| Justin Blake Saffle | Austin, Tx | Jun 6, 2019 | 15 y | 1 |
| Mariah Felis Holmes | Austin, Tx | Dec 12, 2022 | 11 y | 0 |
| Stephanie Anne Roth | Dunedin, Fl | Aug 25, 2026 | 15 y | 3 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days1 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- Alaina Mattix to Wealth Enhancement Advisory Services, LLCAug 10, 2021 · RIA to affiliated broker-dealer or bank
- Michael Duane Reese to Centennial Advisors, LLCApr 16, 2014 · RIA to RIA
- Garry Edward Collins to Brookstone Capital Management LLCMar 1, 2013 · Other
- Phillis Sax Pilvinis to Psp Financial Services LLCSep 23, 2011 · Other
- Charles Ragonese to Psp Financial Services LLCSep 14, 2011 · Other
- Barbara Louise Walker to Psp Financial Services LLCSep 14, 2011 · Other
- Suzette Marie Porter to Psp Financial Services LLCSep 14, 2011 · Other
- Kathleen Anne Nolan to Integrity Alliance, LLCAug 26, 2011 · Other
- Roy Lee Thrower, Jr. to Global Financial Private Capital, Inc.Apr 14, 2010 · Other
Joined, latest
- Stephanie Anne Roth from Crowdstreet Advisors, LLCAug 25, 2026 · Other
- Justin Blake Saffle from Charles Schwab & Co., Inc.Jun 6, 2019 · Affiliated broker-dealer or bank to independent RIA
- Michael Duane Reese from Centennial Wealth Advisory, LLCJan 3, 2014 · RIA to RIA
- Kathleen Anne Nolan from Family Focus Investment Advisors, LLCDec 2, 2009 · Other
- Charles Ragonese from Brookstone Capital Management LLCNov 23, 2009 · Other
- Garry Edward Collins from Brookstone Capital Management LLCNov 6, 2009 · Other
- Barbara Louise Walker from Brookstone Capital Management LLCOct 2, 2009 · Other
- Phillis Sax Pilvinis from Brookstone Capital Management LLCAug 13, 2009 · Other
- Roy Lee Thrower, Jr. from Brookstone Capital Management LLCAug 5, 2009 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Brent Christopher Heerlein · Partnercontrolsince 02/2018 · owns less than 5%
- Sandra Hannah Heerlein · Co-Foundercontrolsince 02/2018 · owns less than 5%
- Brent Christopher Heerlein · Membercontrolsince 02/2018 · owns F of Reap Group, LLC
- Sandra Hannah Heerlein · Membercontrolsince 02/2018 · owns 75% or more of Reap Group, LLC
- Rose Jessica Hinson · Chief Compliance Officersince 07/2019 · owns less than 5%
Entity owners
- Reap Group, LLC · Memberdirect · owns 75% or more
Related persons
Schedule D 7.A
- Reap Insurance Group, LLCreal estaten
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Austin, Tx · principal | 7 | 1 | 0 | ||
| Georgetown, Tx | 6 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Austin, TX7 employees
- Georgetown, TX7 employees
- , 1 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- high employee count relative to advisorsStatic outlier · filing Aug 20, 2026employees per registered advisor of 4.0 against a peer median of 1.4 (947 comparable advisers, 100.0th percentile, 6.6 robust deviations)peers: independent wealth managers, $500M to $1B (947) · 100% percentile
What changed
consecutive filings, newest first
- Other offices · 2 to 3Mar 5, 2026 to Aug 20, 2026
- Accounts · 3,237 to 3,618Aug 27, 2025 to Mar 5, 2026
- Advisory employees · 7 to 6Aug 27, 2025 to Mar 5, 2026
- HNW clients · 166 to 163Aug 27, 2025 to Mar 5, 2026
- Individual clients · 1,051 to 1,121Aug 27, 2025 to Mar 5, 2026
- Assets in custody · $48.2M to $53.6MAug 27, 2025 to Mar 5, 2026
- Employees · 24 to 28Aug 27, 2025 to Mar 5, 2026
- State-registered IARs · 7 to 6Aug 27, 2025 to Mar 5, 2026
- Other offices · 3 to 2Aug 27, 2025 to Mar 5, 2026
- Discretionary RAUM · $510M to $648MAug 27, 2025 to Mar 5, 2026
- HNW RAUM · $251M to $308MAug 27, 2025 to Mar 5, 2026
- Individual RAUM · $259M to $338MAug 27, 2025 to Mar 5, 2026
- RAUM · $510M to $648MAug 27, 2025 to Mar 5, 2026
- Financial planning clients · 1-10 to 1-10Mar 6, 2025 to Jun 5, 2025
- Accounts · 3,246 to 3,237Jun 27, 2024 to Mar 6, 2025
- Advisory employees · 8 to 7Jun 27, 2024 to Mar 6, 2025
- HNW clients · 162 to 166Jun 27, 2024 to Mar 6, 2025
- Individual clients · 1,045 to 1,051Jun 27, 2024 to Mar 6, 2025
- Assets in custody · $22.8M to $48.2MJun 27, 2024 to Mar 6, 2025
- Employees · 20 to 24Jun 27, 2024 to Mar 6, 2025
- State-registered IARs · 8 to 7Jun 27, 2024 to Mar 6, 2025
- Discretionary RAUM · $444M to $510MJun 27, 2024 to Mar 6, 2025
- HNW RAUM · $196M to $251MJun 27, 2024 to Mar 6, 2025
- Individual RAUM · $247M to $259MJun 27, 2024 to Mar 6, 2025
- RAUM · $444M to $510MJun 27, 2024 to Mar 6, 2025
- Accounts · 3,093 to 3,246Nov 22, 2023 to Feb 12, 2024
- HNW clients · 86 to 162Nov 22, 2023 to Feb 12, 2024
- Individual clients · 753 to 1,045Nov 22, 2023 to Feb 12, 2024
- Assets in custody · $29.6M to $22.8MNov 22, 2023 to Feb 12, 2024
- Discretionary RAUM · $381M to $444MNov 22, 2023 to Feb 12, 2024
- HNW RAUM · $159M to $196MNov 22, 2023 to Feb 12, 2024
- Individual RAUM · $221M to $247MNov 22, 2023 to Feb 12, 2024
- RAUM · $381M to $444MNov 22, 2023 to Feb 12, 2024
- Accounts · 1,112 to 3,093Mar 16, 2023 to Mar 22, 2023
- Advisory employees · 14 to 8Mar 16, 2023 to Mar 22, 2023
- Advisory activities · 3 to 4Mar 16, 2023 to Mar 22, 2023
- HNW clients · 189 to 86Mar 16, 2023 to Mar 22, 2023
- Individual clients · 923 to 753Mar 16, 2023 to Mar 22, 2023
- Assets in custody · $34.5M to $29.6MMar 16, 2023 to Mar 22, 2023
- Employees · 14 to 20Mar 16, 2023 to Mar 22, 2023
Signals
3 dated events
- Reap Financial Group, Llc reported RAUM $648.2M, up 27% from $510.2M (2025-08-27 to 2026-03-05)Mar 5, 2026 · RAUM change · derived
- Kay Sandra Newman (Co-Founder) no longer on Schedule A of Reap Financial Group, Llc (listed 2023-11-22, absent 2024-02-12)Feb 12, 2024 · Control person left · inference
- Reap Financial Group, Llc filed its initial SEC registration (Form ADV)Mar 10, 2020 · First SEC registration · 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
- Business phone
- 512-249-7300reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 888-812-7327reportedpublished by the firm, firm site, Sep 16, 2026
- Firm profile
- linkedin.com/company/reap-financialreportedpublic record, Form ADV, Sep 17, 2026
- Website
- Reapevent.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 512-249-7300reportedpublic record, Form ADV, Aug 20, 2026
- Contact form
- reapfinancial.com/contactreportedpublished by the firm, firm site, Sep 16, 2026
- Team page
- reapfinancial.com/who-we-arereportedpublished 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
- $92.6Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026