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.

Former SEC-registered adviser

Diversify Wealth Management LLC

Former SEC-registered adviserOrem, UtahCRD 145593SEC 801-68547IAPD
Legal name Firstpurpose Wealth LLC
Latest filing Mar 29, 2024
First filing on the tape Mar 28, 2012 · 32 filings
RAUM
$540M
reported, Item 5.F
Discretionary
98%
of RAUM
Private clients
100%
$540M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
46
24 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
32 filings and snapshots on the tape
RAUM$540M as of Mar 29, 2024
Mar 28, 2012$90.6M then
HNW client RAUM$306M as of Mar 29, 2024
Mar 26, 2018$134M then
State-registered IARs (5.B.3)24 as of Mar 29, 2024
Mar 28, 20120 then
Employees (5.A)46 as of Mar 29, 2024
Apr 1, 201319 then
Private funds: no history
RAUM +18% over the last fiscal year+15% a year over threeIARs 24 to 24
Practice profile
derived from the filing of Mar 29, 2024; every figure names its basis
RAUM per advisor
$22.5MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
57derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.5MderivedHNW RAUM over HNW clients
Average account
$158,144derivedRAUM over accounts (5.F.2.f)
Discretionary
98%derivedof RAUM
Institutional
0.1%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.9derivedItem 5.A over advisors
Advisors per office
8.0derived3 offices incl. principal (1.F.5)
RAUM growth, one year
+18%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+5.2%derived
Compensation
percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individualsreportedItem 5.G
Financial planning clients
500reportedItem 5.H
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 securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$306M57%
  • Individuals$234M43%
  • Charitable organizations$325,8540.1%
  • Corporations and businesses$306,4430.1%
Individual clients
1,170reported
HNW clients
209reported
Pension plan clients
n/areported
Charitable clients
2reported
Accounts
3,416reported
Financial planning clients
500reported
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
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
    • Matthew Scott Carlson · Chief Compliance Officer And Operations Directorcontrol
      since 07/2022 · owns less than 5%
    Entity owners
    • Falcon Park Capital, Lc · Limiited Liability Company
      direct · owns 75% or more
    Related persons
    Schedule D 7.A
    Advisers that list Diversify Wealth Management LLC as a related person
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Orem, Ut · principal000
    Offices
    Schedule D 1.F, the 25 largest
    • Sandy, UT2 employees
    • Grand Junction, CO1 employees
    What changed
    consecutive filings, newest first
    • Accounts · 3,255 to 3,416
      Jan 25, 2024 to Mar 29, 2024
    • Business name · FIRSTPURPOSE WEALTH LLC to DIVERSIFY WEALTH MANAGEMENT LLC
      Jan 25, 2024 to Mar 29, 2024
    • Charity clients · unset to 2.0
      Jan 25, 2024 to Mar 29, 2024
    • Corporate clients · unset to 3.0
      Jan 25, 2024 to Mar 29, 2024
    • Individual clients · 1,102 to 1,170
      Jan 25, 2024 to Mar 29, 2024
    • Discretionary RAUM · $458M to $531M
      Jan 25, 2024 to Mar 29, 2024
    • HNW RAUM · $290M to $306M
      Jan 25, 2024 to Mar 29, 2024
    • Individual RAUM · $165M to $234M
      Jan 25, 2024 to Mar 29, 2024
    • Non-discretionary RAUM · $288,897 to $9.0M
      Jan 25, 2024 to Mar 29, 2024
    • RAUM · $458M to $540M
      Jan 25, 2024 to Mar 29, 2024
    • Related adviser · false to true
      Jan 18, 2024 to Jan 22, 2024
    • Related broker-dealer · false to true
      Jan 18, 2024 to Jan 22, 2024
    • Accounts · 2,956 to 3,255
      Oct 24, 2022 to Feb 16, 2023
    • Advisory employees · 18 to 24
      Oct 24, 2022 to Feb 16, 2023
    • Advisory activities · 3 to 2
      Oct 24, 2022 to Feb 16, 2023
    • HNW clients · 180 to 209
      Oct 24, 2022 to Feb 16, 2023
    • Individual clients · 1,033 to 1,102
      Oct 24, 2022 to Feb 16, 2023
    • Assets in custody · $55.1M to $392M
      Oct 24, 2022 to Feb 16, 2023
    • Employees · 51 to 46
      Oct 24, 2022 to Feb 16, 2023
    • State-registered IARs · 18 to 24
      Oct 24, 2022 to Feb 16, 2023
    • Discretionary RAUM · $455M to $458M
      Oct 24, 2022 to Feb 16, 2023
    • HNW RAUM · $274M to $290M
      Oct 24, 2022 to Feb 16, 2023
    • Individual RAUM · $192M to $165M
      Oct 24, 2022 to Feb 16, 2023
    • Non-discretionary RAUM · $11.9M to $288,897
      Oct 24, 2022 to Feb 16, 2023
    • RAUM · $467M to $458M
      Oct 24, 2022 to Feb 16, 2023
    • Accounts · 2,597 to 2,956
      Jan 14, 2022 to Feb 23, 2022
    • Advisory employees · 16 to 18
      Jan 14, 2022 to Feb 23, 2022
    • HNW clients · 168 to 180
      Jan 14, 2022 to Feb 23, 2022
    • Individual clients · 938 to 1,033
      Jan 14, 2022 to Feb 23, 2022
    • Employees · 36 to 51
      Jan 14, 2022 to Feb 23, 2022
    • State-registered IARs · 16 to 18
      Jan 14, 2022 to Feb 23, 2022
    • Discretionary RAUM · $272M to $455M
      Jan 14, 2022 to Feb 23, 2022
    • HNW RAUM · $221M to $274M
      Jan 14, 2022 to Feb 23, 2022
    • Individual RAUM · $132M to $192M
      Jan 14, 2022 to Feb 23, 2022
    • Non-discretionary RAUM · $81.3M to $11.9M
      Jan 14, 2022 to Feb 23, 2022
    • RAUM · $353M to $467M
      Jan 14, 2022 to Feb 23, 2022
    • Accounts · 2,235 to 2,597
      Oct 6, 2020 to Feb 25, 2021
    • Advisory employees · 15 to 16
      Oct 6, 2020 to Feb 25, 2021
    • BD registered reps · 12 to 13
      Oct 6, 2020 to Feb 25, 2021
    • Business name · LJCOOPER CAPITAL MANAGEMENT, LLC to FIRSTPURPOSE WEALTH LLC
      Oct 6, 2020 to Feb 25, 2021
    Signals
    17 dated events
    • Scott Matthew Carlson left Diversify Wealth Management Llc for Diversify Advisory Services, Llc (registered 2024-02-05)
      Jul 17, 2024 · Advisor changed firm · fact
    • Bryant Armstrong left Diversify Wealth Management Llc for Diversify Advisory Services, Llc (registered 2024-02-05)
      Jul 17, 2024 · Advisor changed firm · fact
    • Kelby Mcmullin left Diversify Wealth Management Llc for Diversify Advisory Services, Llc (registered 2024-02-05)
      Jul 17, 2024 · Advisor changed firm · fact
    • James E Spainhower left Diversify Wealth Management Llc for Diversify Wealth Management, Inc. (registered 2014-11-05)
      Jul 17, 2024 · Advisor changed firm · fact
    • Timothy Kirkpatrick Whipple left Diversify Wealth Management Llc for Diversify Wealth Management, Inc. (registered 2014-10-13)
      Jul 17, 2024 · Advisor changed firm · fact
    • 3 advisors left Diversify Wealth Management LLC (Orem, UT) for Diversify Advisory Services, LLC on the same day
      Jul 17, 2024 · Team lift-out · derived
    • 2 advisors left Diversify Wealth Management LLC (Orem, UT) for Diversify Wealth Management, Inc. on the same day
      Jul 17, 2024 · Team lift-out · derived
    • Diversify Wealth Management LLC's advisors moved to Diversify Wealth Management, LLC (Orem, UT): 18 of 23 registered, on the same day
      Jul 17, 2024 · Firm absorbed (people side) · derived
    • Bryant Armstrong (Chief Financial Officer) no longer on Schedule A of Diversify Wealth Management Llc (listed 2024-01-25, absent 2024-03-29)
      Mar 29, 2024 · Control person left · inference
    • Levi Travis Port left Diversify Wealth Management Llc for Cwm, Llc (registered 2024-02-12)
      Feb 9, 2024 · Advisor changed firm · fact
    • G. Kenneth Bown (Partner) no longer on Schedule A of Diversify Wealth Management Llc (listed 2023-11-07, absent 2024-01-18)
      Jan 18, 2024 · Control person left · inference
    • Kirkpatrick Timothy Whipple (Partner) no longer on Schedule A of Diversify Wealth Management Llc (listed 2023-11-07, absent 2024-01-18)
      Jan 18, 2024 · Control person left · inference
    • Cole D Tyler Einerson left Diversify Wealth Management Llc for Diversify Advisory Services, Llc (registered 2023-09-06)
      Apr 14, 2023 · Advisor changed firm · fact
    • Matthew Scott Carlson (Chief Compliance Officer And Operations Director) appeared on Schedule A of Diversify Wealth Management Llc
      Jul 12, 2022 · Control person joined · fact
    • Diversify Wealth Management Llc reported RAUM $466.9M, up 32% from $353.4M (2022-01-14 to 2022-02-23)
      Feb 23, 2022 · RAUM change · derived
    • Derek Ezra Tanuvasa left Diversify Wealth Management Llc for Fidelity Personal And Workplace Advisors (registered 2022-03-25)
      Jan 14, 2022 · Advisor changed firm · fact
    • Lee Bryant Armstrong (Chief Financial Officer) appeared on Schedule A of Diversify Wealth Management Llc
      Feb 28, 2020 · Control person joined · 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