DFX Intelligence
RIA Intelligence
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SEC-registered adviser
L••••••• W••••• M••••••••• L••
Latest filing Apr 1, 2026
First filing on the tape Jan 19, 2012 · 21 filings
SEC status approved since Mar 23, 2018
RAUM
$186M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$186M individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$61.9M
derived; firm RAUM over IAPD count
Employees
3
2 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
21 filings and snapshots on the tape
RAUM$186M as of Apr 1, 2026
Feb 3, 2012$51.5M then
HNW client RAUM$159M as of Apr 1, 2026
Jan 21, 2019$94.3M then
State-registered IARs (5.B.3)3 as of Apr 1, 2026
Feb 3, 20120 then
Employees (5.A)3 as of Apr 1, 2026
Jan 21, 20193 then
Private funds: no history
RAUM +13% over the last fiscal year+12% a year over threeIARs 2 to 3
Practice profile
derived from the filing of Apr 1, 2026; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
- RAUM per advisor
- $61.9MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 52derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.1MderivedHNW RAUM over HNW clients
- Average account
- $360,838derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 3.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +13%derivedbetween the last two annual amendments
- Advisor growth, one year
- +50%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +8.3%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individualsreportedItem 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$159M85%
- Individuals$27.0M15%
- Individual clients
- 104reported
- HNW clients
- 52reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 515reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixedreported
- 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
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| K•••••••• E•••••••• L••••• D••••••••• | Rochester, Mn | Jun 16, 2021 | 13 y | 0 |
| D••••• B•••••• M••••• | Rochester, Mn | Oct 24, 2023 | 12 y | 0 |
| C••••• J•••• M••••• | Rochester, Mn | Oct 24, 2023 | 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
none on the tape
Joined, latest
none on the tape
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- L••••••••• E•••• A•••••• · Partnercontrolsince 12/2023 · owns 25% to 50%
- M•••••• C•••••• J•••• · Partnercontrolsince 12/2023 · owns 25% to 50%
- M•••••• D•••••• B•••••• · Chief Executive Officer Managing Partnercontrolsince 11/2023 · owns 25% to 50%
- D••••••••• K••••••••• E•••••••• L••••• · Chief Compliance Officersince 02/2024 · owns less than 5%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Rochester, Mn | 3 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 595 to 515Oct 14, 2025 to Apr 1, 2026
- HNW clients · 48 to 52Oct 14, 2025 to Apr 1, 2026
- Individual clients · 96 to 104Oct 14, 2025 to Apr 1, 2026
- State-registered IARs · 2 to 3Oct 14, 2025 to Apr 1, 2026
- Discretionary RAUM · $165M to $186MOct 14, 2025 to Apr 1, 2026
- HNW RAUM · $138M to $159MOct 14, 2025 to Apr 1, 2026
- Individual RAUM · $27.2M to $27.0MOct 14, 2025 to Apr 1, 2026
- RAUM · $165M to $186MOct 14, 2025 to Apr 1, 2026
- Individual clients · 103 to 96Aug 9, 2024 to Mar 31, 2025
- Accounts · 550 to 595Aug 9, 2024 to Mar 31, 2025
- Advisory employees · 3 to 2Aug 9, 2024 to Mar 31, 2025
- HNW clients · 46 to 48Aug 9, 2024 to Mar 31, 2025
- Commission compensation · true to falseAug 9, 2024 to Mar 31, 2025
- Financial planning clients · 51-100 to 51-100Aug 9, 2024 to Mar 31, 2025
- HQ city · unset to Aug 9, 2024 to Mar 31, 2025
- HQ state · unset to Aug 9, 2024 to Mar 31, 2025
- State-registered IARs · 1 to 2Aug 9, 2024 to Mar 31, 2025
- Discretionary RAUM · $158M to $165MAug 9, 2024 to Mar 31, 2025
- HNW RAUM · $126M to $138MAug 9, 2024 to Mar 31, 2025
- Individual RAUM · $31.7M to $27.2MAug 9, 2024 to Mar 31, 2025
- RAUM · $158M to $165MAug 9, 2024 to Mar 31, 2025
- Accounts · 521 to 550Dec 19, 2023 to Feb 29, 2024
- Advisory employees · 1 to 3Dec 19, 2023 to Feb 29, 2024
- HNW clients · 45 to 46Dec 19, 2023 to Feb 29, 2024
- Individual clients · 110 to 103Dec 19, 2023 to Feb 29, 2024
- Employees · 4 to 3Dec 19, 2023 to Feb 29, 2024
- Insurance-licensed employees · 0 to 1Dec 19, 2023 to Feb 29, 2024
- Discretionary RAUM · $132M to $158MDec 19, 2023 to Feb 29, 2024
- HNW RAUM · $104M to $126MDec 19, 2023 to Feb 29, 2024
- Individual RAUM · $29.9M to $31.7MDec 19, 2023 to Feb 29, 2024
- Non-discretionary RAUM · $1.5M to $0Dec 19, 2023 to Feb 29, 2024
- RAUM · $134M to $158MDec 19, 2023 to Feb 29, 2024
- Accounts · 557 to 521Mar 24, 2022 to Feb 20, 2023
- Charity clients · unset to 0.0Mar 24, 2022 to Feb 20, 2023
- HNW clients · 116 to 45Mar 24, 2022 to Feb 20, 2023
- Individual clients · 54 to 110Mar 24, 2022 to Feb 20, 2023
- Discretionary RAUM · $196M to $132MMar 24, 2022 to Feb 20, 2023
- HNW RAUM · $32.2M to $104MMar 24, 2022 to Feb 20, 2023
- Individual RAUM · $166M to $29.9MMar 24, 2022 to Feb 20, 2023
- Non-discretionary RAUM · $1.7M to $1.5MMar 24, 2022 to Feb 20, 2023
Signals
5 dated events
- Jacob Collin Miller (Partner) appeared on Schedule A of L••••••• W••••• M••••••••• L••Dec 19, 2023 · Control person joined · fact
- Anthony Erik Lindstrom (Partner) appeared on Schedule A of L••••••• W••••• M••••••••• L••Dec 19, 2023 · Control person joined · fact
- Marvin Bradley Miller (Owner) no longer on Schedule A of L••••••• W••••• M••••••••• L•• (listed 2023-11-20, absent 2023-12-19)Dec 19, 2023 · Control person left · inference
- Bradley Dayton Miller (Chief Compliance Officer Chief Executive Officer) appeared on Schedule A of L••••••• W••••• M••••••••• L••Nov 20, 2023 · Control person joined · fact
- L••••••• W••••• M••••••••• L•• filed its initial SEC registration (Form ADV)Feb 21, 2018 · 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
- Principal office phone
- 507-288-5587reportedpublic record, Form ADV, Apr 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
- $61.9Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026