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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SEC-registered adviser
E•••••
Legal name E••••• I••••••••• P•••••••• L••
Latest filing Aug 26, 2026
First filing on the tape Jan 17, 2012 · 40 filings
SEC status approved since Jan 12, 2009
RAUM
$3.6B
reported, Item 5.F
Discretionary
19%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$598M
derived; firm RAUM over IAPD count
Employees
13
6 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
40 filings and snapshots on the tape
RAUM$3.6B as of Aug 26, 2026
Jan 17, 2012$135M then
HNW client RAUM: no history
State-registered IARs (5.B.3)6 as of Aug 26, 2026
Mar 1, 20130 then
Employees (5.A)13 as of Aug 26, 2026
Mar 1, 20134 then
Private funds: no history
RAUM +53% over the last fiscal year+26% a year over threeIARs 6 to 6
Practice profile
derived from the filing of Aug 26, 2026; every figure names its basis
Archetypes, each a printed rule
- Institutional asset manager · institutional share (pensions, government, insurance, corporations, charities, banks, other advisers) at least 60 percent and private-client share under 20 percent
- RAUM per advisor
- $598MderivedRAUM 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
- $5.0MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 19%derivedof RAUM
- Institutional
- 100%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.2derivedItem 5.A over advisors
- Advisors per office
- 3.0derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +17%derivedbetween the last two annual amendments
- Advisor growth, one year
- +33%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- portfolio management for businesses and institutions, educational seminars, otherreportedItem 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
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- State and municipal entities$3.6B100%
- Corporations and businesses$15.7M0.4%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 722reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.0 fund_share=0.0 institutional_share=1.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
6 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| B•••• M•••••• R•••••Chartered Financial Analyst | Roseville, Mn | Apr 17, 2012 | 21 y | 0 |
| T••••• J••••• A•••• | Minneapolis, Mn | Apr 25, 2018 | 21 y | 4 |
| R••• W• M•••• | Minneapolis, Mn | Aug 4, 2018 | 17 y | 1 |
| J•••• M•••••• G••••••• | Minneapolis, Mn | Nov 13, 2023 | 14 y | 1 |
| P•••••• J••••• R••••• | Minneapolis, Mn | Dec 8, 2023 | 13 y | 0 |
| L•••• S••••••• | Minneapolis, Mn | Jan 11, 2024 | 10 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- J•••• W•••••• R••••• to O•••••• C••••••• I•••May 27, 2022 · Other
- P•••••• N•••• T•••• to K••••••••• W••••• M••••••••• L••Nov 13, 2020 · Other
- M•••••• C••••• H••••• to E••••••••• I••••••••• G••••Sep 6, 2019 · Other
- J••• H•••• P••••••• to M•••••• L••••• P•••••• F••••• • S•••• I•••••••••May 25, 2018 · Other
- J••• E••••• F•• to R•• C•••••• M••••••• L••Apr 5, 2018 · Other
- J••• B••••••• S•••••• to U•• F•••••••• S••••••• I•••Nov 2, 2017 · Other
- D••••• L•• D••••••• to S••••••• I••••••••• A•••••••• I•••Sep 17, 2014 · Other
- B•••• E••••• M••• to R•••••• J•••• F•••••••• S••••••• A•••••••• I••May 17, 2012 · Other
Joined, latest
- J•••• M•••••• G••••••• from C•••••• S••••• • C••• I•••Nov 13, 2023 · Other
- J•••• W•••••• R••••• from A••••••••• F•••••••• S•••••••• L••Feb 17, 2022 · Other
- R••• W• M•••• from W•••• F•••• A•••••••Aug 4, 2018 · Other
- T••••• J••••• A•••• from R••••• W• B•••• • C•• I•••••••••Apr 25, 2018 · Other
- J••• H•••• P••••••• from R••••• W• B•••• • C•• I•••••••••Jan 3, 2018 · Other
- M•••••• C••••• H••••• from W•••• F•••• A•••••••Nov 29, 2012 · Other
- J••• E••••• F•• from F•• I••••••••• • P•••••••Sep 14, 2012 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- C•••••• P••• · Directorcontrolsince 03/2024 · owns less than 5%
- C••••• G••• · Directorcontrolsince 01/2022 · owns less than 5%
- M••••• R•••• W• · Managing Directorcontrolsince 02/2022 · owns less than 5%
- R•••••• B••••• M•••••• · Presidentcontrolsince 12/2019 · owns less than 5%
- Z•••••••• P•••••• K•• R•••••• · Chief Compliance Officercontrolsince 05/2022 · owns less than 5%
- C•••••• P••• · Trusteecontrolsince 03/2024 · owns F of E••••• C••••••••• I•••
- C•••••••• K•••••• · Trusteecontrolsince 02/2022 · owns F of E••••• C••••••••• I•••
- K•••••••• S••••• · Trusteecontrolsince 02/2022 · owns F of E••••• C••••••••• I•••
- L••••• M•••••• · Director Of Finance & Accountingsince 08/2024 · owns less than 5%
- C•••• J••••••• M•••• · Trusteesince 12/2016 · owns F of E••••• A•• A••••••••• I••• E••••••• O•••••••• T••••
- V••••• H•••••• J•• · Trusteesince 10/2019 · owns F of E••••• A•• A••••••••• I••• E••••••• O•••••••• T••••
Entity owners
- E••••• C••••••••• I••• · Managing Memberdirect · owns 75% or more
- E••••• A•• A••••••••• I••• E••••••• O•••••••• T•••• · Shareholderindirect · owns 75% or more of E••••• C••••••••• I•••
Related persons
Schedule D 7.A
- B••• T•••• S••••••• C•••••••••n
- E••••• • A••••••••• I•••n
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Minneapolis, Mn · principal | 5 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Waukesha, WI2 employees
What changed
consecutive filings, newest first
- Accounts · 671 to 722Sep 29, 2025 to Aug 26, 2026
- Advisory employees · 5 to 6Sep 29, 2025 to Aug 26, 2026
- Charity clients · 1.0 to unsetSep 29, 2025 to Aug 26, 2026
- Corporate clients · 1.0 to unsetSep 29, 2025 to Aug 26, 2026
- State-registered IARs · 8 to 6Sep 29, 2025 to Aug 26, 2026
- Discretionary RAUM · $3.0B to $688MSep 29, 2025 to Aug 26, 2026
- Non-discretionary RAUM · $126M to $2.9BSep 29, 2025 to Aug 26, 2026
- RAUM · $3.2B to $3.6BSep 29, 2025 to Aug 26, 2026
- Accounts · 559 to 671Jul 15, 2025 to Sep 29, 2025
- Discretionary RAUM · $0 to $3.0BJul 15, 2025 to Sep 29, 2025
- Non-discretionary RAUM · $2.7B to $126MJul 15, 2025 to Sep 29, 2025
- RAUM · $2.7B to $3.2BJul 15, 2025 to Sep 29, 2025
- Employees · 10 to 13Jun 13, 2025 to Jul 15, 2025
- Financial planning clients · unset to Jun 13, 2025 to Jul 15, 2025
- HQ city · ROSEVILLE to MINNEAPOLISJun 13, 2025 to Jul 15, 2025
- Accounts · 571 to 559Apr 4, 2024 to Sep 4, 2024
- Employees · 9 to 10Apr 4, 2024 to Sep 4, 2024
- State-registered IARs · 6 to 8Apr 4, 2024 to Sep 4, 2024
- Non-discretionary RAUM · $2.3B to $2.7BApr 4, 2024 to Sep 4, 2024
- RAUM · $2.3B to $2.7BApr 4, 2024 to Sep 4, 2024
- Accounts · 207 to 571Jan 10, 2023 to Aug 17, 2023
- Charity clients · unset to 1.0Jan 10, 2023 to Aug 17, 2023
- Corporate clients · unset to 1.0Jan 10, 2023 to Aug 17, 2023
- Employees · 7 to 9Jan 10, 2023 to Aug 17, 2023
- State-registered IARs · 5 to 6Jan 10, 2023 to Aug 17, 2023
- Non-discretionary RAUM · $2.0B to $2.3BJan 10, 2023 to Aug 17, 2023
- RAUM · $2.0B to $2.3BJan 10, 2023 to Aug 17, 2023
- Accounts · 158 to 207May 27, 2022 to Sep 21, 2022
- BD registered reps · 1 to 0May 27, 2022 to Sep 21, 2022
- Employees · 11 to 7May 27, 2022 to Sep 21, 2022
- Non-discretionary RAUM · $1.8B to $2.0BMay 27, 2022 to Sep 21, 2022
- RAUM · $1.8B to $2.0BMay 27, 2022 to Sep 21, 2022
- Accounts · 145 to 158Oct 29, 2020 to Sep 27, 2021
- BD registered reps · 0 to 1Oct 29, 2020 to Sep 27, 2021
- Employees · 10 to 11Oct 29, 2020 to Sep 27, 2021
- Other offices · 2 to 1Oct 29, 2020 to Sep 27, 2021
- Non-discretionary RAUM · $1.5B to $1.8BOct 29, 2020 to Sep 27, 2021
- RAUM · $1.5B to $1.8BOct 29, 2020 to Sep 27, 2021
- Business name · E••••• I••••••••• P•••••••• L•• to E•••••Sep 28, 2020 to Oct 29, 2020
- Accounts · 117 to 145Jul 21, 2020 to Sep 28, 2020
Signals
26 dated events
- Phil Cosson (Director) appeared on Schedule A of EhlersMar 1, 2024 · Control person joined · fact
- Cameron Jonathan (Trustee) no longer on Schedule A of Ehlers (listed 2024-03-01, absent 2024-03-01)Mar 1, 2024 · Control person left · inference
- William Jason Roeske (Chief Compliance Officer) no longer on Schedule A of Ehlers (listed 2022-02-08, absent 2022-05-27)May 27, 2022 · Control person left · inference
- Kay Reinitz Pamela Ziermann (Chief Compliance Officer) appeared on Schedule A of EhlersMay 27, 2022 · Control person joined · fact
- J•••• W•••••• R••••• left Ehlers for O•••••• C••••••• I••• (registered 2022-04-07)May 27, 2022 · Advisor changed firm · fact
- Douglas Jeffrey Eaton (Director) no longer on Schedule A of Ehlers (listed 2021-09-27, absent 2022-02-08)Feb 8, 2022 · Control person left · inference
- Phil Cosson (Director) no longer on Schedule A of Ehlers (listed 2021-09-27, absent 2022-02-08)Feb 8, 2022 · Control person left · inference
- Kristin Cummings (Trustee) appeared on Schedule A of EhlersFeb 8, 2022 · Control person joined · fact
- Greg Crowe (Director) appeared on Schedule A of EhlersFeb 8, 2022 · Control person joined · fact
- Stacie Kvilvang (Trustee) appeared on Schedule A of EhlersFeb 8, 2022 · Control person joined · fact
- Cameron Jonathan (Director) appeared on Schedule A of EhlersFeb 8, 2022 · Control person joined · fact
- Ehlers reported RAUM $1.5B, up 91% from $790.5M (2020-07-21 to 2020-09-28)Sep 28, 2020 · RAUM change · derived
- William Jason Roeske (Chief Compliance Officer) appeared on Schedule A of EhlersSep 28, 2020 · Control person joined · fact
- Paul David Holleran (Ceo, President And Cco) no longer on Schedule A of Ehlers (listed 2019-11-15, absent 2019-12-17)Dec 17, 2019 · Control person left · inference
- M•••••• Brian Reilly (President/Cco) appeared on Schedule A of EhlersDec 17, 2019 · Control person joined · fact
- M•••• J•••••• C••• (Board Member) appeared on Schedule A of EhlersDec 17, 2019 · Control person joined · fact
- Mae J•••• Z••••••• (Board Member) appeared on Schedule A of EhlersDec 17, 2019 · Control person joined · fact
- Steve Apfelbacher (Director) no longer on Schedule A of Ehlers (listed 2019-09-23, absent 2019-11-15)Nov 15, 2019 · Control person left · inference
- Frederick Martin Schultz (Director) appeared on Schedule A of EhlersSep 23, 2019 · Control person joined · fact
- Douglas Jeffrey Eaton (Director) appeared on Schedule A of EhlersSep 23, 2019 · Control person joined · fact
- Sean Lentz (Director) no longer on Schedule A of Ehlers (listed 2019-06-21, absent 2019-09-23)Sep 23, 2019 · Control person left · inference
- J••• Kenneth Herdeman (President) no longer on Schedule A of Ehlers (listed 2019-06-21, absent 2019-09-23)Sep 23, 2019 · Control person left · inference
- Bruce Kimmel (Director) no longer on Schedule A of Ehlers (listed 2019-06-21, absent 2019-09-23)Sep 23, 2019 · Control person left · inference
- Mike Harrigan (Director) no longer on Schedule A of Ehlers (listed 2019-06-21, absent 2019-09-23)Sep 23, 2019 · Control person left · inference
- Ehlers reported RAUM $660.8M, up 39% from $474.1M (2018-05-02 to 2018-09-17)Sep 17, 2018 · RAUM change · derived
- B•• C•••••••• I••••••••• P•••••••• L•• reported succeeding to the business of Another Adviser (Form ADV Item 4)Jan 17, 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.
How to reach
public business contact points only, each with its source
- Website
- ehlers-inc.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 800-552-1171reportedpublic record, Form ADV, Aug 26, 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
- Institutional managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $598Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026