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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Former SEC-registered adviser

A••••• I••••••••• A••••••• C•••••••••

Former SEC-registered adviserMinnetonka, MinnesotaCRD 145129SEC 801-68381IAPD
Latest filing Aug 26, 2015
First filing on the tape Feb 2, 2012 · 14 filings
RAUM
$1.8B
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
15
8 advisory (5.B.1)
Offices
n/a
beyond the principal office
Private funds
0
reported on Schedule D
History
14 filings and snapshots on the tape
RAUM$1.8B as of Feb 10, 2015
Feb 2, 2012$1.3B then
HNW client RAUM: no history
State-registered IARs (5.B.3)8 as of Feb 10, 2015
Mar 19, 20131 then
Employees (5.A)15 as of Feb 10, 2015
Mar 19, 201315 then
Private funds: no history
RAUM +4.6% over the last fiscal year+9.6% a year over threeIARs 11 to 8
Practice profile
derived from the filing of Aug 26, 2015; every figure names its basis
RAUM per advisor
$222MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$14.1MderivedRAUM over accounts (5.F.2.f)
Discretionary
99%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.9derivedItem 5.A over advisors
Advisors per office
2.7derived3 offices incl. principal (1.F.5)
RAUM growth, one year
+4.6%derivedbetween the last two annual amendments
Advisor growth, one year
-27%derivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, hourly, fixed fees, otherreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisers, publications, educational seminarsreportedItem 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
  • 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)
  • a related person acts as qualified custodian (9.D.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
This filing has no Item 5.D breakdown (filings before 2017 reported ranges, not amounts).
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
126reported
Financial planning clients
1-10reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Every departureEvery arrival
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • B••••••••• K•••• A••••• · Director
    since 09/2007 · owns less than 5%
  • C••••••• E•••• A•••••• · Cfo
    since 09/2007 · owns less than 5%
  • C••••••• K•••• E•••• · Director
    since 09/2007 · owns less than 5%
  • F•••••• J•••• G••••• · Director
    since 01/2009 · owns less than 5%
  • N•••••• R••••• L•••• · Chairman/Director
    since 09/2007 · owns less than 5%
  • S••••• S••••• N• · President, Cio, Cco
    since 03/2010 · owns less than 5%
Entity owners
  • A••••• F••••••••• N••• · Shareholder
    direct · owns 75% or more
  • A••••• F•••••••• C••••••••• · Direct Shareholder
    indirect · owns 75% or more of A••••• F••••••••• N•••
Related persons
Schedule D 7.A
Offices
Schedule D 1.F, the 25 largest
  • East Lansing, MI
  • Grand Forks, ND
What changed
consecutive filings, newest first
  • Accounts · 125 to 126
    Oct 31, 2014 to Feb 10, 2015
  • Discretionary RAUM · $1.7B to $1.8B
    Oct 31, 2014 to Feb 10, 2015
  • Non-discretionary RAUM · $35.3M to $23.8M
    Oct 31, 2014 to Feb 10, 2015
  • RAUM · $1.7B to $1.8B
    Oct 31, 2014 to Feb 10, 2015
  • Advisory employees · 13 to 8
    Mar 7, 2014 to Oct 28, 2014
  • Advisory activities · 6 to 7
    Mar 7, 2014 to Oct 28, 2014
  • Employees · 18 to 15
    Mar 7, 2014 to Oct 28, 2014
  • Financial planning clients · 0 to 1-10
    Mar 7, 2014 to Oct 28, 2014
  • State-registered IARs · 11 to 8
    Mar 7, 2014 to Oct 28, 2014
  • Discretionary RAUM · $1.7B to $1.7B
    Mar 7, 2014 to Oct 28, 2014
  • RAUM · $1.7B to $1.7B
    Mar 7, 2014 to Oct 28, 2014
  • Accounts · 77 to 125
    Mar 19, 2013 to Mar 7, 2014
  • Advisory employees · 12 to 13
    Mar 19, 2013 to Mar 7, 2014
  • BD registered reps · 4 to 3
    Mar 19, 2013 to Mar 7, 2014
  • Employees · 15 to 18
    Mar 19, 2013 to Mar 7, 2014
  • State-registered IARs · 1 to 11
    Mar 19, 2013 to Mar 7, 2014
  • Discretionary RAUM · $1.4B to $1.7B
    Mar 19, 2013 to Mar 7, 2014
  • Non-discretionary RAUM · $33.7M to $35.3M
    Mar 19, 2013 to Mar 7, 2014
  • RAUM · $1.5B to $1.7B
    Mar 19, 2013 to Mar 7, 2014
  • Accounts · 3 to 77
    Dec 11, 2012 to Mar 19, 2013
  • BD registered reps · 3 to 4
    Dec 11, 2012 to Mar 19, 2013
  • Assets in custody · unset to 0.0
    Dec 11, 2012 to Mar 19, 2013
  • Employees · 16 to 15
    Dec 11, 2012 to Mar 19, 2013
  • Discretionary RAUM · $1.3B to $1.4B
    Dec 11, 2012 to Mar 19, 2013
  • Non-discretionary RAUM · $0 to $33.7M
    Dec 11, 2012 to Mar 19, 2013
  • RAUM · $1.3B to $1.5B
    Dec 11, 2012 to Mar 19, 2013
  • Advisory employees · unset to 12.0
    Apr 27, 2012 to Dec 11, 2012
  • BD registered reps · unset to 3.0
    Apr 27, 2012 to Dec 11, 2012
  • Employees · unset to 16.0
    Apr 27, 2012 to Dec 11, 2012
  • State-registered IARs · unset to 1.0
    Apr 27, 2012 to Dec 11, 2012
  • Accounts · 1 to 3
    Feb 2, 2012 to Feb 2, 2012
  • Discretionary RAUM · $1.3B to $1.3B
    Feb 2, 2012 to Feb 2, 2012
  • RAUM · $1.3B to $1.3B
    Feb 2, 2012 to Feb 2, 2012
  • Succession · true to false
    Feb 2, 2012 to Feb 2, 2012
Signals
1 dated events
  • A••••• I••••••••• A••••••• C••••••••• reported succeeding to the business of Another Adviser (Form ADV Item 4)
    Feb 2, 2012 · Succession (Item 4) · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
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
Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
RAUM per advisor
n/aderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026