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.
SEC-registered adviser
Nova Financial Services
Legal name Nova Financial LLC
Latest filing Mar 29, 2026
First filing on the tape Apr 8, 2014 · 30 filings
SEC status approved since Apr 25, 2014
RAUM
$469M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$469M individuals and HNW
Advisors
9
registered through the firm on IAPD
RAUM per advisor
$52.2M
derived; firm RAUM over IAPD count
Employees
10
7 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
30 filings and snapshots on the tape
RAUM$469M as of Mar 29, 2026
Mar 30, 2015$131M then
HNW client RAUM$277M as of Mar 29, 2026
Mar 29, 2018$117M then
State-registered IARs (5.B.3)7 as of Mar 29, 2026
Mar 30, 201517 then
Employees (5.A)10 as of Mar 29, 2026
Mar 30, 201529 then
Private funds: no history
RAUM +20% over the last fiscal year+17% a year over threeIARs 0 to 7
Practice profile
derived from the filing of Mar 29, 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
- RAUM per advisor
- $52.2MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 82derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.9MderivedHNW RAUM over HNW clients
- Average account
- $338,217derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.1derivedItem 5.A over advisors
- Advisors per office
- 4.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +20%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- +0.1%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisers, 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
- is an insurance broker or agent (6.A.6)
- 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$277M59%
- Individuals$193M41%
- Individual clients
- 594reported
- HNW clients
- 144reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 1,388reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- 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
9 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Jacob Ray Kagele | Tucson, Az | May 18, 2009 | 23 y | 4 |
| Thomas Michael Fischer | Scottsdale, Az | Jan 3, 2011 | 31 y | 1 |
| Victor Guy Denigris | Tucson, Az | Apr 26, 2011 | 23 y | 0 |
| Mark Clifford Debenedetti | Tucson, Az | Sep 28, 2011 | 23 y | 0 |
| Michael Stephan Mare | Colorado Springs, Co | Nov 3, 2014 | 18 y | 3 |
| Christopher John Chaffon | Tucson, Az | Jun 26, 2015 | 17 y | 2 |
| Jeffrey Michael Johnson | Tucson, Az | Mar 31, 2016 | 26 y | 1 |
| Blake Alan Bjordahl | Tucson, Az | Apr 5, 2016 | 26 y | 4 |
| Cole Robert Fischer | Tucson, Az | May 5, 2026 | 11 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
- Michelle Lynn Ford to J. W. Cole Advisors, Inc.Jun 5, 2023 · RIA to affiliated broker-dealer or bank
- Adam L Wade to J. W. Cole Advisors, Inc.Apr 29, 2022 · RIA to RIA
- David L Allen to Cornerstone Wealth ManagementSep 3, 2019 · RIA to RIA
- Marcos Antonio Madril to Money Concepts Advisory ServiceMar 21, 2018 · Other
- Ryan W Sublette to Path Wealth Management, LLCNov 7, 2017 · Other
- Justin Thomas Pierce to Integrity Alliance, LLCOct 23, 2017 · Other
- Ronald Edward Wilson to MML Investors Services, LLCMar 16, 2017 · Other
- Lyle Anson Deo to First Financial Equity CorporationJun 17, 2016 · Other
- Laurence Ethan Goldstein to First Financial Equity CorporationJun 17, 2016 · Other
- David Raymond Keefe to First Financial Equity CorporationJun 17, 2016 · Other
- John Richard Neighbours to Sagepoint Financial, Inc.Mar 18, 2016 · Other
- Robin Lou Depies to Msi Financial Services, Inc.Feb 11, 2016 · Other
- Garrett Pierce Smith to Ameriprise Financial Services, LLCSep 28, 2015 · Other
- Sandie Turley to Arque Capital, Ltd.Jun 15, 2015 · Other
- Guillermo Hector Monge to Raymond James Financial Services Advisors, IncOct 8, 2014 · Other
Joined, latest
- David L Allen from Kestra Private Wealth Services, LLCMar 16, 2017 · Other
- Adam L Wade from Western Wealth Management LLCFeb 1, 2017 · Other
- Michelle Lynn Ford from Waddell & ReedDec 13, 2016 · Other
- Blake Alan Bjordahl from Ministry Partners Securities, LLCApr 5, 2016 · Other
- Jeffrey Michael Johnson from Merrill Lynch, Pierce, Fenner & Smith IncorporatedMar 31, 2016 · Other
- John Richard Neighbours from Sagepoint Financial, Inc.Jul 28, 2015 · Other
- Christopher John Chaffon from Merrill Lynch, Pierce, Fenner & Smith IncorporatedJun 26, 2015 · Other
- Garrett Pierce Smith from First Financial Equity CorporationJun 15, 2015 · Other
- Michael Stephan Mare from New England Securities CorporationNov 3, 2014 · Other
- David Raymond Keefe from Equitable Advisors, LLCJan 24, 2014 · Other
- Marcos Antonio Madril from New England Securities CorporationJan 21, 2014 · Other
- Justin Thomas Pierce from Brookstone Capital Management LLCDec 4, 2012 · Other
- Guillermo Hector Monge from Pnc Managed Account Solutions, Inc.Nov 15, 2012 · Other
- Ronald Edward Wilson from Stifel, Nicolaus & Company, IncorporatedDec 21, 2011 · Other
- Constance A Velander from Chase Investment Services Corp.Jun 9, 2011 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 3 left for First Financial Equity CorporationJun 17, 2016 · Tucson, Az
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Ray Jacob Kagele · Managing Partner / Ccocontrolsince 05/2009 · owns 25% to 50%
- Michael Raymond Desmond · Managing Membercontrolsince 07/2014 · owns F of Nova Financial Holding Company, LLC
- Ray Jacob Kagele · Managing Membercontrolsince 09/2012 · owns 75% or more of Bfd, LLC
- Leann Heather Volpe · Trusteecontrolsince 07/2014 · owns 75% or more of Jon David Volpe & Heather Leann Volpe Revocable Trust
- David Jon Volpe · Trusteecontrolsince 07/2014 · owns 75% or more of Jon David Volpe & Heather Leann Volpe Revocable Trust
Entity owners
- Nova Financial Holding Company, LLC · Manager Manageddirect · owns 50% to 75%
- Jon David Volpe & Heather Leann Volpe Revocable Trust · Trustindirect · owns 75% or more of Nova Financial Holding, LLC
- Nova Financial Holding LLC · Corporationindirect · owns 75% or more of Nova Financial & Insurance Services
- Bfd, LLC · Managing Memberdirect · owns 25% to 50%
Related persons
Schedule D 7.A
- Debenedetti Holdings, Incinsurancen
- Mutual Advisors, LLCinvestment advisernRAUM $8.5B
- Mutual Securities, Inc.broker-dealernRAUM $38.6M
- Nova Financial & Investment Corpy
- Nova Financial LLCreal estatey
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Tucson, Az · principal | 7 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Colorado Springs, CO5 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- affiliate changedChange between filings · filing Mar 29, 2026broker-dealer affiliate (Item 7.A.1): yes on the filing of 2025-07-15, no on the filing of 2026-03-29peers: independent wealth managers, $100M to $500M (5,676)
- HNW share shiftChange between filings · filing Mar 29, 2026HNW share of RAUM moved from 32.0% to 59.0% between the annual amendments of 2025-03-14 and 2026-03-29peers: independent wealth managers, $100M to $500M (5,676)
What changed
consecutive filings, newest first
- Accounts · 1,354 to 1,388Jul 15, 2025 to Mar 29, 2026
- BD registered reps · 2 to 0Jul 15, 2025 to Mar 29, 2026
- HNW clients · 111 to 144Jul 15, 2025 to Mar 29, 2026
- Individual clients · 626 to 594Jul 15, 2025 to Mar 29, 2026
- Employees · 7 to 10Jul 15, 2025 to Mar 29, 2026
- State-registered IARs · 0 to 7Jul 15, 2025 to Mar 29, 2026
- Discretionary RAUM · $390M to $469MJul 15, 2025 to Mar 29, 2026
- HNW RAUM · $126M to $277MJul 15, 2025 to Mar 29, 2026
- Individual RAUM · $263M to $193MJul 15, 2025 to Mar 29, 2026
- Non-discretionary RAUM · $1.3M to $545,687Jul 15, 2025 to Mar 29, 2026
- Pension RAUM · 126000.0 to unsetJul 15, 2025 to Mar 29, 2026
- RAUM · $391M to $469MJul 15, 2025 to Mar 29, 2026
- Related adviser · true to falseJul 15, 2025 to Mar 29, 2026
- Related broker-dealer · true to falseJul 15, 2025 to Mar 29, 2026
- Financial planning clients · 1-10 to 1-10Mar 14, 2025 to Jul 15, 2025
- Accounts · 1,334 to 1,354Nov 19, 2024 to Mar 14, 2025
- HNW clients · 102 to 111Nov 19, 2024 to Mar 14, 2025
- Individual clients · 607 to 626Nov 19, 2024 to Mar 14, 2025
- Discretionary RAUM · $340M to $390MNov 19, 2024 to Mar 14, 2025
- HNW RAUM · $103M to $126MNov 19, 2024 to Mar 14, 2025
- Individual RAUM · $238M to $263MNov 19, 2024 to Mar 14, 2025
- Non-discretionary RAUM · $2.4M to $1.3MNov 19, 2024 to Mar 14, 2025
- Pension RAUM · $112,964 to $126,000Nov 19, 2024 to Mar 14, 2025
- RAUM · $342M to $391MNov 19, 2024 to Mar 14, 2025
- Accounts · 1,409 to 1,334Mar 31, 2023 to Mar 25, 2024
- Advisory employees · 8 to 7Mar 31, 2023 to Mar 25, 2024
- Corporate clients · 15.0 to unsetMar 31, 2023 to Mar 25, 2024
- HNW clients · 289 to 102Mar 31, 2023 to Mar 25, 2024
- Individual clients · 504 to 607Mar 31, 2023 to Mar 25, 2024
- Employees · 8 to 7Mar 31, 2023 to Mar 25, 2024
- Discretionary RAUM · $288M to $340MMar 31, 2023 to Mar 25, 2024
- HNW RAUM · $92.1M to $103MMar 31, 2023 to Mar 25, 2024
- Individual RAUM · $196M to $238MMar 31, 2023 to Mar 25, 2024
- Non-discretionary RAUM · $2.5M to $2.4MMar 31, 2023 to Mar 25, 2024
- Pension RAUM · unset to 112964.0Mar 31, 2023 to Mar 25, 2024
- RAUM · $290M to $342MMar 31, 2023 to Mar 25, 2024
- Accounts · 1,541 to 1,409Mar 21, 2022 to Mar 29, 2023
- Advisory employees · 9 to 8Mar 21, 2022 to Mar 29, 2023
- Employees · 9 to 8Mar 21, 2022 to Mar 29, 2023
- Discretionary RAUM · $302M to $288MMar 21, 2022 to Mar 29, 2023
Signals
4 dated events
- Michelle Lynn Ford left Nova Financial Services for J. W. Cole Advisors, Inc. (registered 2023-03-28)Jun 5, 2023 · Advisor changed firm · fact
- Adam L Wade left Nova Financial Services for J. W. Cole Advisors, Inc. (registered 2022-03-28)Apr 29, 2022 · Advisor changed firm · fact
- Alan Blake Bjordahl (Chief Compliance Officer) no longer on Schedule A of Nova Financial Services (listed 2020-06-26, absent 2020-11-02)Nov 2, 2020 · Control person left · inference
- Nova Financial & Insurance Services filed its initial SEC registration (Form ADV)Apr 8, 2014 · 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
- Business phone
- 719-632-0445reportedpublished by the firm, firm site, Sep 16, 2026
- Firm profile
- linkedin.com/company/nova-financial-servicesreportedpublic record, Form ADV, Sep 18, 2026
- Website
- QWSTRATEGIES.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 520-745-5555reportedpublic record, Form ADV, Mar 29, 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
- $52.2Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026