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

Efficient Advisors

Former SEC-registered adviserCRD 150144SEC 801-70110websiteIAPD
Legal name Efficient Advisors, LLC
Latest filing Mar 13, 2026
First filing on the tape Jan 26, 2012 · 53 filings
SEC status approved since May 1, 2009
RAUM
$3.1B
reported, Item 5.F
Discretionary
93%
of RAUM
Private clients
90%
$2.8B individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
14
6 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
53 filings and snapshots on the tape
RAUM$3.1B as of Mar 13, 2026
Mar 30, 2012$311M then
HNW client RAUM$1.0B as of Mar 13, 2026
Mar 28, 2018$240M then
State-registered IARs (5.B.3)6 as of Mar 13, 2026
Apr 1, 20133 then
Employees (5.A)14 as of Mar 13, 2026
Apr 1, 201310 then
Private funds: no history
RAUM +11% over the last fiscal year+18% a year over threeIARs 8 to 6offices 3 to 2
Practice profile
derived from the filing of Mar 13, 2026; every figure names its basis
RAUM per advisor
$514MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
1,587derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.8MderivedHNW RAUM over HNW clients
Average account
$176,085derivedRAUM over accounts (5.F.2.f)
Discretionary
93%derivedof RAUM
Institutional
10%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
2.3derivedItem 5.A over advisors
Advisors per office
2.0derived3 offices incl. principal (1.F.5)
RAUM growth, one year
+11%derivedbetween the last two annual amendments
Advisor growth, one year
-25%derivedItem 5.B.3 between annual amendments
Client growth, one year
+2.2%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, pension consultingreportedItem 5.G
Wrap fee program
participatesreportedItem 5.I
Custody
$362M, 2,639 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)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
  • a related person acts as qualified custodian (9.D.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$1.8B57%
  • High-net-worth individuals$1.0B33%
  • Pension and profit-sharing plans$311M10%
  • Corporations and businesses$7.1M0.2%
  • Charitable organizations$238,0280.0%
Individual clients
8,971reported
HNW clients
548reported
Pension plan clients
229reported
Charitable clients
2reported
Accounts
17,508reported
Financial planning clients
0reported
Wrap fee programs
$0 sponsored, $6.6M managedreported
Custody of client assets
$362M for 2,639 clientsreported
Compensation
% of AUM, fixedreported
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
9 left, 0 joined in 12 months
net -9 in 12 months0 left in 90 days0 joined in 90 days14 left over 36 months
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
  • Robert Michael Coluzzi · Chief Financial Officercontrol
    since 03/2021 · owns less than 5%
  • Bishop Scott David · Presidentcontrol
    since 03/2024 · owns less than 5%
  • Bradford Steven Miller · Chief Executive Officercontrol
    since 08/2020 · owns less than 5%
  • David Zachary Shepard · Chief Revenue Officercontrol
    since 08/2020 · owns less than 5%
  • Ann Sabrina Williams · Chief Operating Officercontrol
    since 08/2020 · owns less than 5%
  • Russell James Hadaway · Chief Compliance Officer
    since 07/2019 · owns less than 5%
Entity owners
  • Efficient Advisors Parent, Inc · Member
    direct · owns 75% or more
  • Pcs Parent, L.P. · Stockholder
    indirect · owns 75% or more of Pcs Topco, Inc.
  • Fiduciary Services Group, LLC · Member
    indirect · owns 75% or more of Efficient Advisors Parent, Inc
  • Fsg Parent, Inc. · Member
    indirect · owns 75% or more of Fiduciary Services Group, LLC
  • Lee Equity Partners IV Gp, LLC · General Partner
    indirect · owns F of Lep Pcs Co-Invest, LP
  • Lep Pcs Co-Invest, LP · Limited Partner
    indirect · owns 50% to 75% of Pcs Parent Gp, LLC
  • Llr V-Pcs, LLC · Stockholder
    indirect · owns 75% or more of Fsg Parent, Inc.
  • Pcs Buyer, Inc. · Stockholder
    indirect · owns 75% or more of Llr V-Pcs, LLC
  • Pcs Intermediate, Inc. · Stockholder
    indirect · owns 75% or more of Pcs Midco, Inc.
  • Pcs Midco, Inc. · Stockholder
    indirect · owns 75% or more of Pcs Buyer, Inc.
  • Pcs Parent Gp, LLC · General Partner
    indirect · owns F of Pcs Parent, L.P.
  • Pcs Topco, Inc. · Stockholder
    indirect · owns 75% or more of Pcs Intermediate, Inc.
Related persons
Schedule D 7.A
  • Advisortrust, Inc.
    custodiann
  • Alliance Benefit Group Rocky Mountain
    LP sponsorn
  • Fiduciary Advisors, LLC
    investment adviserLP sponsornRAUM $520M
  • Pcs Retirement LLC
    LP sponsorn
Advisers that list Efficient Advisors as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Charlotte, Nc000
Cincinnati, Oh003
Colfax, Nc001
Fort Mill, Sc001
High Point, Nc001
Newtown Square, Pa000
Philadelphia, Pa001
Yardley, Pa001
Mason, Oh003
Offices
Schedule D 1.F, the 25 largest
  • Durham, NC1 employees
  • Scottsdale, AZ1 employees
  • , 1 employees
What changed
consecutive filings, newest first
  • Accounts · 17,312 to 17,508
    Dec 22, 2025 to Mar 13, 2026
  • Advisory employees · 8 to 6
    Dec 22, 2025 to Mar 13, 2026
  • BD registered reps · 0 to 1
    Dec 22, 2025 to Mar 13, 2026
  • HNW clients · 498 to 548
    Dec 22, 2025 to Mar 13, 2026
  • Individual clients · 8,814 to 8,971
    Dec 22, 2025 to Mar 13, 2026
  • Pension plan clients · 257 to 229
    Dec 22, 2025 to Mar 13, 2026
  • Employees · 26 to 14
    Dec 22, 2025 to Mar 13, 2026
  • Insurance-licensed employees · 1 to 0
    Dec 22, 2025 to Mar 13, 2026
  • Financial planning clients · 1-10 to 0
    Dec 22, 2025 to Mar 13, 2026
  • State-registered IARs · 8 to 6
    Dec 22, 2025 to Mar 13, 2026
  • Other offices · 3 to 2
    Dec 22, 2025 to Mar 13, 2026
  • Discretionary RAUM · $2.6B to $2.9B
    Dec 22, 2025 to Mar 13, 2026
  • HNW RAUM · $871M to $1.0B
    Dec 22, 2025 to Mar 13, 2026
  • Individual RAUM · $1.6B to $1.8B
    Dec 22, 2025 to Mar 13, 2026
  • Non-discretionary RAUM · $183M to $205M
    Dec 22, 2025 to Mar 13, 2026
  • Pension RAUM · $338M to $311M
    Dec 22, 2025 to Mar 13, 2026
  • RAUM · $2.8B to $3.1B
    Dec 22, 2025 to Mar 13, 2026
  • Wrap assets (manager) · $27.3M to $6.6M
    Dec 22, 2025 to Mar 13, 2026
  • Related bank · false to true
    Jul 14, 2025 to Dec 22, 2025
  • Related broker-dealer · false to true
    Jul 14, 2025 to Dec 22, 2025
  • Financial planning clients · 1-10 to 1-10
    Mar 6, 2025 to Jul 14, 2025
  • Accounts · 15,510 to 17,312
    Mar 29, 2024 to Mar 6, 2025
  • Corporate clients · 10 to 8
    Mar 29, 2024 to Mar 6, 2025
  • HNW clients · 431 to 498
    Mar 29, 2024 to Mar 6, 2025
  • Individual clients · 7,933 to 8,814
    Mar 29, 2024 to Mar 6, 2025
  • Pension plan clients · 247 to 257
    Mar 29, 2024 to Mar 6, 2025
  • Assets in custody · $44.0M to $362M
    Mar 29, 2024 to Mar 6, 2025
  • Employees · 25 to 26
    Mar 29, 2024 to Mar 6, 2025
  • Financial planning clients · 0 to 1-10
    Mar 29, 2024 to Mar 6, 2025
  • HQ city · unset to
    Mar 29, 2024 to Mar 6, 2025
  • HQ state · unset to
    Mar 29, 2024 to Mar 6, 2025
  • Discretionary RAUM · $2.3B to $2.6B
    Mar 29, 2024 to Mar 6, 2025
  • HNW RAUM · $742M to $871M
    Mar 29, 2024 to Mar 6, 2025
  • Individual RAUM · $1.3B to $1.6B
    Mar 29, 2024 to Mar 6, 2025
  • Non-discretionary RAUM · $75.1M to $183M
    Mar 29, 2024 to Mar 6, 2025
  • Pension RAUM · $305M to $338M
    Mar 29, 2024 to Mar 6, 2025
  • RAUM · $2.4B to $2.8B
    Mar 29, 2024 to Mar 6, 2025
  • Wrap assets (manager) · $22.1M to $27.3M
    Mar 29, 2024 to Mar 6, 2025
  • Accounts · 12,950 to 15,510
    Apr 13, 2023 to Mar 29, 2024
  • Charity clients · 1 to 2
    Apr 13, 2023 to Mar 29, 2024
Signals
34 dated events
  • Efficient Advisors no longer on the SEC adviser roster (last listed 2026-06-01, RAUM $3.1B)
    Jul 1, 2026 · Left the SEC roster · derived
  • Philip James Corson left Efficient Advisors for Assetmark, Inc. (registered 2026-07-15)
    Jun 1, 2026 · Advisor changed firm · fact
  • Steven Bradford Miller left Efficient Advisors for Assetmark, Inc. (registered 2026-06-24)
    Jun 1, 2026 · Advisor changed firm · fact
  • Samuel Eugene Badgley left Efficient Advisors for Assetmark, Inc. (registered 2026-07-15)
    Jun 1, 2026 · Advisor changed firm · fact
  • Sabrina Ann Williams left Efficient Advisors for Assetmark, Inc. (registered 2026-06-09)
    Jun 1, 2026 · Advisor changed firm · fact
  • Jhon Khalil Khan left Efficient Advisors for Assetmark, Inc. (registered 2026-06-16)
    Jun 1, 2026 · Advisor changed firm · fact
  • Douglas Dean Alden left Efficient Advisors for Winning Points Advisors, L.L.C. (registered 2015-11-04)
    Jun 1, 2026 · Advisor changed firm · fact
  • John David Resnick left Efficient Advisors for Assetmark, Inc. (registered 2026-06-08)
    Jun 1, 2026 · Advisor changed firm · fact
  • Dawn Marie Santoriello left Efficient Advisors for Ds Financial Strategies, Llc (registered 2026-04-16)
    Jun 1, 2026 · Advisor changed firm · fact
  • Richard Michael Flanders no longer registered at Efficient Advisors; no later IA registration on IAPD
    Jun 1, 2026 · Advisor departure · fact
  • Ronnie Myron Kidd no longer registered at Efficient Advisors; no later IA registration on IAPD
    Jun 1, 2026 · Advisor departure · fact
  • 4 advisors left Efficient Advisors (Cincinnati, OH) for Assetmark, Inc. on the same day
    Jun 1, 2026 · Team lift-out · derived
  • Ryan Knebel left Efficient Advisors for Abg Consultants (registered 2026-01-12)
    Dec 15, 2025 · Advisor changed firm · fact
  • Marc Stephen Becker left Efficient Advisors for Discipline Wealth Solutions, Inc. (registered 2025-06-13)
    Sep 2, 2025 · Advisor changed firm · fact
  • John Randall Potter left Efficient Advisors for Integrity Advisory Solutions (registered 2024-04-05)
    Aug 21, 2025 · Advisor changed firm · fact
  • Thomas Edward Dundorf left Efficient Advisors for Independent Advisor Alliance, Llc (registered 2016-09-28)
    Aug 21, 2025 · Advisor changed firm · fact
  • Nathan Aaron Fulks left Efficient Advisors for Independent Advisor Alliance, Llc (registered 2018-04-10)
    Aug 21, 2025 · Advisor changed firm · fact
  • Stephen Craig Tosi no longer registered at Efficient Advisors; no later IA registration on IAPD
    Aug 21, 2025 · Advisor departure · fact
  • 2 advisors left Efficient Advisors (Mason, OH) for Independent Advisor Alliance, LLC on the same day
    Aug 21, 2025 · Team lift-out · derived
  • Timothy Andrew Chisholm left Efficient Advisors for Newsquare Capital, Llc (registered 2018-11-08)
    Apr 8, 2025 · Advisor changed firm · fact
  • Efficient Advisors reported RAUM $2.4B, up 26% from $1.9B (2023-04-13 to 2024-03-29)
    Mar 29, 2024 · RAUM change · derived
  • Bishop Scott David (President) appeared on Schedule A of Efficient Advisors
    Mar 29, 2024 · Control person joined · fact
  • Andrew Gerrit Fedele (Chief Administrative Officer) no longer on Schedule A of Efficient Advisors (listed 2023-04-13, absent 2024-03-29)
    Mar 29, 2024 · Control person left · inference
  • 2 advisors left Sowell Management (North Little Rock, AR) for Efficient Advisors on the same day
    Dec 1, 2023 · Team lift-out · derived
  • 2 advisors left Sowell Management (High Point, NC) for Efficient Advisors on the same day
    Mar 1, 2023 · Team lift-out · derived
  • Dawn Marie Santoriello left Efficient Advisors for Attleboro Wealth Management Llc (registered 2022-10-04)
    Oct 5, 2022 · Advisor changed firm · fact
  • Efficient Advisors reported RAUM $2.2B, up 51% from $1.5B (2021-05-03 to 2022-03-30)
    Mar 30, 2022 · RAUM change · derived
  • Bruce Mark Klein (Member) no longer on Schedule A of Efficient Advisors (listed 2021-05-03, absent 2022-03-30)
    Mar 30, 2022 · Control person left · inference
  • David Zachary Shepard (Chief Revenue Officer) appeared on Schedule A of Efficient Advisors
    Mar 31, 2021 · Control person joined · fact
  • Michael Coluzzi (Chief Financial Officer) appeared on Schedule A of Efficient Advisors
    Mar 31, 2021 · 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