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
Commerce Advisors, LLC
Latest filing Feb 25, 2026
First filing on the tape Apr 2, 2012 · 27 filings
SEC status approved since Sep 17, 2009
RAUM
$338M
reported, Item 5.F
Discretionary
96%
of RAUM
Private clients
73%
$247M individuals and HNW
Advisors
5
registered through the firm on IAPD
RAUM per advisor
$67.6M
derived; firm RAUM over IAPD count
Employees
6
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
27 filings and snapshots on the tape
RAUM$338M as of Feb 25, 2026
Apr 2, 2012$295M then
HNW client RAUM$226M as of Feb 25, 2026
Mar 22, 2018$125M then
State-registered IARs (5.B.3)3 as of Feb 25, 2026
Apr 1, 20132 then
Employees (5.A)6 as of Feb 25, 2026
Apr 1, 20134 then
Private funds: 1
RAUM +43% over the last fiscal year+20% a year over threeIARs 3 to 3
Practice profile
derived from the filing of Feb 25, 2026; every figure names its basis
Archetypes, each a printed rule
- 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
- RAUM per advisor
- $67.6MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 27derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.8MderivedHNW RAUM over HNW clients
- Average account
- $771,350derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 96%derivedof RAUM
- Institutional
- 6.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.2derivedItem 5.A over advisors
- Advisors per office
- 5.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +43%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +3.9%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisersreportedItem 5.G
- Custody
- $191M, 89 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)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$226M67%
- Corporations and businesses$70.0M21%
- Individuals$20.4M6.0%
- Charitable organizations$11.6M3.4%
- Pension and profit-sharing plans$9.4M2.8%
- Individual clients
- 74reported
- HNW clients
- 59reported
- Pension plan clients
- 2reported
- Charitable clients
- 5reported
- Accounts
- 438reported
- Financial planning clients
- 26-50reported
- Wrap fee programs
- noreported
- Custody of client assets
- $191M for 89 clientsreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=0.73 fund_share=0.0 institutional_share=0.06 related_bd=false related_bank=false bd_reps=1.0derived
Advisors registered through the firm
5 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| William David Woodmansee | Memphis, Tn | Oct 2, 2009 | 38 y | 1 |
| Kurt Austin Voldeng | Memphis, Tn | Mar 17, 2017 | 35 y | 2 |
| Ronald Dow Partain | Memphis, Tn | Apr 25, 2024 | 32 y | 2 |
| Justin Peterkin | Memphis, Tn | May 5, 2026 | 11 y | 6 |
| Michael Edward Perdzock | Memphis, Tn | Jul 29, 2026 | 35 y | 4 |
Advisor movement
0 left, 2 joined in 12 months
net +2 in 12 months0 left in 90 days1 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- Michael Edward Perdzock to Gavion, LLCJul 12, 2012 · Other
Joined, latest
- Michael Edward Perdzock from Cbiz Investment Advisory Services, LLCJul 29, 2026 · Other
- Justin Peterkin from LPL Enterprise, LLCMay 5, 2026 · Affiliated broker-dealer or bank to independent RIA
- Ronald Dow Partain from Barksdale Investment ManagementApr 25, 2024 · Other
- Michael Edward Perdzock from Consulting Services Group, LLCOct 13, 2009 · Other
- William David Woodmansee from Wells Fargo AdvisorsOct 2, 2009 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Vincent Joseph Robinson · Ceo/Ccocontrolsince 07/2012 · owns less than 5%
- Austin Kurt Voldeng · Ciocontrolsince 07/2012 · owns less than 5%
- J Thomas Byrce · Managing Member Of Bf Leasingcontrolsince 07/2012 · owns 50% to 75% of Bf Leasing LLC
- David William Woodmansee · Presidentsince 11/2010 · owns less than 5%
Entity owners
- Commerce Holdings LLC · Memberdirect · owns 75% or more
- Bf Leasing LLC · Memberindirect · owns 25% to 50% of Commerce Holdings LLC
Related persons
Schedule D 7.A
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Memphis, Tn · principal | 5 | 2 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
5 against comparable advisers; where to look, not conclusions
- wealth to institutional shiftCombination · filing Feb 25, 2026private-client share fell 15 points or more while institutional share rose 15 points or more. RAUM $236,562,702 to $337,851,115, advisors 3 to 3, private clients 128 to 133, offices 0 to 0 (2025-03-05 to 2026-02-25)peers: independent wealth managers, $100M to $500M (5,676)
- client mix shiftChange between filings · filing Feb 25, 2026private-client share of RAUM moved from 92.0% to 73.0% between the annual amendments of 2025-03-05 and 2026-02-25peers: independent wealth managers, $100M to $500M (5,676)
- HNW share shiftChange between filings · filing Feb 25, 2026HNW share of RAUM moved from 85.0% to 67.0% between the annual amendments of 2025-03-05 and 2026-02-25peers: independent wealth managers, $100M to $500M (5,676)
- institutional asset share shiftChange between filings · filing Feb 25, 2026institutional share of RAUM moved from 8.0% to 27.0% between the annual amendments of 2025-03-05 and 2026-02-25peers: independent wealth managers, $100M to $500M (5,676)
- RAUM up 25 %Change between filings · filing Feb 25, 2026RAUM (Item 5.F) moved from $236,562,702 to $337,851,115 (+43.0%) between the annual amendments of 2025-03-05 and 2026-02-25; the peer median change was +15.0% (4551 comparable advisers, 94.0th percentile of changes)peers: independent wealth managers, $100M to $500M (4,551) · 94% percentile
What changed
consecutive filings, newest first
- Accounts · 418 to 438Oct 7, 2025 to Feb 25, 2026
- Charity clients · 2 to 5Oct 7, 2025 to Feb 25, 2026
- Corporate clients · 1 to 3Oct 7, 2025 to Feb 25, 2026
- HNW clients · 60 to 59Oct 7, 2025 to Feb 25, 2026
- Individual clients · 68 to 74Oct 7, 2025 to Feb 25, 2026
- Assets in custody · $87.0M to $191MOct 7, 2025 to Feb 25, 2026
- Discretionary RAUM · $223M to $323MOct 7, 2025 to Feb 25, 2026
- HNW RAUM · $200M to $226MOct 7, 2025 to Feb 25, 2026
- Individual RAUM · $16.8M to $20.4MOct 7, 2025 to Feb 25, 2026
- Non-discretionary RAUM · $13.6M to $14.5MOct 7, 2025 to Feb 25, 2026
- Pension RAUM · $8.6M to $9.4MOct 7, 2025 to Feb 25, 2026
- RAUM · $237M to $338MOct 7, 2025 to Feb 25, 2026
- Advisory employees · 2 to 4Mar 8, 2024 to Mar 5, 2025
- HNW clients · 55 to 60Mar 8, 2024 to Mar 5, 2025
- Individual clients · 66 to 68Mar 8, 2024 to Mar 5, 2025
- Assets in custody · $71.0M to $87.0MMar 8, 2024 to Mar 5, 2025
- Employees · 4 to 6Mar 8, 2024 to Mar 5, 2025
- Financial planning clients · 26-50 to 26-50Mar 8, 2024 to Mar 5, 2025
- State-registered IARs · 2 to 3Mar 8, 2024 to Mar 5, 2025
- Discretionary RAUM · $215M to $223MMar 8, 2024 to Mar 5, 2025
- HNW RAUM · $194M to $200MMar 8, 2024 to Mar 5, 2025
- Individual RAUM · $17.6M to $16.8MMar 8, 2024 to Mar 5, 2025
- Non-discretionary RAUM · $12.9M to $13.6MMar 8, 2024 to Mar 5, 2025
- Pension RAUM · $8.0M to $8.6MMar 8, 2024 to Mar 5, 2025
- RAUM · $227M to $237MMar 8, 2024 to Mar 5, 2025
- Accounts · 361 to 418Feb 17, 2023 to Mar 8, 2024
- HNW clients · 50 to 55Feb 17, 2023 to Mar 8, 2024
- Individual clients · 65 to 66Feb 17, 2023 to Mar 8, 2024
- Assets in custody · $49.8M to $71.0MFeb 17, 2023 to Mar 8, 2024
- Employees · 5 to 4Feb 17, 2023 to Mar 8, 2024
- Discretionary RAUM · $184M to $215MFeb 17, 2023 to Mar 8, 2024
- HNW RAUM · $166M to $194MFeb 17, 2023 to Mar 8, 2024
- Individual RAUM · $16.0M to $17.6MFeb 17, 2023 to Mar 8, 2024
- Non-discretionary RAUM · $11.3M to $12.9MFeb 17, 2023 to Mar 8, 2024
- Pension RAUM · $7.2M to $8.0MFeb 17, 2023 to Mar 8, 2024
- RAUM · $195M to $227MFeb 17, 2023 to Mar 8, 2024
- Accounts · 363 to 361Aug 31, 2022 to Feb 17, 2023
- Charity clients · unset to 2.0Aug 31, 2022 to Feb 17, 2023
- Corporate clients · unset to 1.0Aug 31, 2022 to Feb 17, 2023
- HNW clients · 44 to 50Aug 31, 2022 to Feb 17, 2023
Signals
3 dated events
- Commerce Advisors, Llc reported RAUM $337.9M, up 43% from $236.6M (2025-10-07 to 2026-02-25)Feb 25, 2026 · RAUM change · derived
- Austin Kurt Voldeng (Cio) appeared on Schedule A of Commerce Advisors, LlcMar 8, 2024 · Control person joined · fact
- Commerce Advisors, Llc reported RAUM $147.8M, down 47% from $276.6M (2017-03-29 to 2018-03-22)Mar 22, 2018 · RAUM change · derived
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
- 901-260-6050reportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 901-260-6051reportedpublished by the firm, firm site, Sep 17, 2026
- Firm profile
- LINKEDIN.COM/COMPANY/COMMERCE-ADVISORSreportedpublic record, Form ADV, Sep 17, 2026
- Website
- COMMERCEADVISORSLLC.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 901-260-6050reportedpublic record, Form ADV, Feb 25, 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
- $67.6Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026