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
Nikulski Financial, Inc.
Latest filing Mar 17, 2026
First filing on the tape Jan 26, 2017 · 26 filings
SEC status approved since Feb 8, 2017
RAUM
$449M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
98%
$442M individuals and HNW
Advisors
7
registered through the firm on IAPD
RAUM per advisor
$64.1M
derived; firm RAUM over IAPD count
Employees
10
6 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
26 filings and snapshots on the tape
RAUM$449M as of Mar 17, 2026
Mar 12, 2018$148M then
HNW client RAUM$339M as of Mar 17, 2026
Mar 12, 2018$79.6M then
State-registered IARs (5.B.3)6 as of Mar 17, 2026
Mar 12, 20183 then
Employees (5.A)10 as of Mar 17, 2026
Mar 12, 20183 then
Private funds: no history
RAUM +21% over the last fiscal year+21% a year over threeIARs 5 to 6
Practice profile
derived from the filing of Mar 17, 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
- RAUM per advisor
- $56.1MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 59derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.9MderivedHNW RAUM over HNW clients
- Average account
- $945,216derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.3derivedItem 5.A over advisors
- Advisors per office
- 8.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +21%derivedbetween the last two annual amendments
- Advisor growth, one year
- +20%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +12%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, selection of other advisers, educational seminarsreportedItem 5.G
- Custody
- $73.2M, 103 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$339M75%
- Individuals$103M23%
- Charitable organizations$3.8M0.8%
- Corporations and businesses$3.2M0.7%
- Individual clients
- 352reported
- HNW clients
- 116reported
- Pension plan clients
- n/areported
- Charitable clients
- 4reported
- Accounts
- 475reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- $73.2M for 103 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.98 fund_share=0.0 institutional_share=0.01 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
8 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Brian Jacob NikulskiCertified Financial Planner | Bettendorf, Ia | Sep 25, 2009 | 30 y | 2 |
| Andrew Michael SwansonCertified Financial Planner | Bettendorf, Ia | Jun 10, 2015 | 12 y | 0 |
| Amber Jean Netherton | Bettendorf, Ia | Aug 24, 2017 | 11 y | 0 |
| Mario Alberto Jorge | Bettendorf, Ia | Apr 29, 2024 | 11 y | 0 |
| Ethan Robert GoodCertified Financial Planner, Chartered Financial Analyst | Bettendorf, Ia | Aug 2, 2024 | 12 y | 0 |
| Joel Scott Lawlor | Bettendorf, Ia | May 20, 2026 | 11 y | 1 |
| Talen Butler | Bettendorf, Ia | Aug 7, 2026 | 10 y | 0 |
| Graye Michael Freeman | Bettendorf, Ia | Sep 14, 2026 | 10 y | 0 |
Advisor movement
1 left, 1 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 14% of current headcount2 left over 36 months
Left, latest
- Ryan David Bintz to Merrill Lynch, Pierce, Fenner & Smith IncorporatedJun 8, 2026 · RIA to wirehouse
- Roy C Lines to LPL Financial LLCAug 22, 2024 · RIA to affiliated broker-dealer or bank
- Ryan P Jennings to RBC Capital Markets, LLCApr 5, 2021 · RIA to affiliated broker-dealer or bank
Joined, latest
- Joel Scott Lawlor from Ameriprise Financial Services, LLCMay 20, 2026 · Affiliated broker-dealer or bank to independent RIA
- Roy C Lines from Planmember Securities CorporationFeb 27, 2024 · RIA to RIA
- Ryan P Jennings from Buckingham Strategic Wealth, LLCDec 2, 2019 · Affiliated broker-dealer or bank to independent RIA
- Brian Jacob Nikulski from Cambridge Investment Research Advisors, Inc.Sep 25, 2009 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Jacob Brian Nikulski · President And Chief Compliance Officercontrolsince 09/2009 · owns 75% or more
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 |
|---|---|---|---|---|---|
| Bettendorf, Ia · principal | 7 | 2 | 1 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- account count collapseChange between filings · filing Mar 17, 2026accounts (Item 5.F.2.f) moved from 1,377.0 to 475.0 (-66.0%) between the annual amendments of 2025-03-28 and 2026-03-17; the peer median change was +5.0% (3688 comparable advisers, 1.0th percentile of changes)peers: independent wealth managers, $100M to $500M (3,688) · 1.4% percentile
What changed
consecutive filings, newest first
- Accounts · 1,377 to 475Jul 11, 2025 to Mar 17, 2026
- Advisory employees · 5 to 6Jul 11, 2025 to Mar 17, 2026
- Advisory activities · 3 to 4Jul 11, 2025 to Mar 17, 2026
- Charity clients · unset to 4.0Jul 11, 2025 to Mar 17, 2026
- Corporate clients · unset to 3.0Jul 11, 2025 to Mar 17, 2026
- HNW clients · 102 to 116Jul 11, 2025 to Mar 17, 2026
- Individual clients · 316 to 352Jul 11, 2025 to Mar 17, 2026
- Assets in custody · $244M to $73.2MJul 11, 2025 to Mar 17, 2026
- Employees · 9 to 10Jul 11, 2025 to Mar 17, 2026
- State-registered IARs · 5 to 6Jul 11, 2025 to Mar 17, 2026
- Discretionary RAUM · $370M to $449MJul 11, 2025 to Mar 17, 2026
- HNW RAUM · $270M to $339MJul 11, 2025 to Mar 17, 2026
- Individual RAUM · $94.2M to $103MJul 11, 2025 to Mar 17, 2026
- RAUM · $370M to $449MJul 11, 2025 to Mar 17, 2026
- Financial planning clients · 51-100 to 51-100Mar 28, 2025 to Jul 11, 2025
- Accounts · 1,240 to 1,377Dec 16, 2024 to Mar 28, 2025
- Advisory employees · 4 to 5Dec 16, 2024 to Mar 28, 2025
- Charity clients · 3.0 to unsetDec 16, 2024 to Mar 28, 2025
- Corporate clients · 2.0 to unsetDec 16, 2024 to Mar 28, 2025
- HNW clients · 74 to 102Dec 16, 2024 to Mar 28, 2025
- Individual clients · 331 to 316Dec 16, 2024 to Mar 28, 2025
- Assets in custody · $180M to $244MDec 16, 2024 to Mar 28, 2025
- Financial planning clients · 26-50 to 51-100Dec 16, 2024 to Mar 28, 2025
- State-registered IARs · 4 to 5Dec 16, 2024 to Mar 28, 2025
- Discretionary RAUM · $306M to $370MDec 16, 2024 to Mar 28, 2025
- HNW RAUM · $192M to $270MDec 16, 2024 to Mar 28, 2025
- Individual RAUM · $108M to $94.2MDec 16, 2024 to Mar 28, 2025
- RAUM · $306M to $370MDec 16, 2024 to Mar 28, 2025
- Accounts · 1,188 to 1,240Apr 17, 2023 to Mar 26, 2024
- Advisory employees · 2 to 4Apr 17, 2023 to Mar 26, 2024
- Corporate clients · 3 to 2Apr 17, 2023 to Mar 26, 2024
- HNW clients · 70 to 74Apr 17, 2023 to Mar 26, 2024
- Individual clients · 307 to 331Apr 17, 2023 to Mar 26, 2024
- Assets in custody · $152M to $180MApr 17, 2023 to Mar 26, 2024
- Employees · 7 to 9Apr 17, 2023 to Mar 26, 2024
- Financial planning clients · 51-100 to 26-50Apr 17, 2023 to Mar 26, 2024
- State-registered IARs · 3 to 4Apr 17, 2023 to Mar 26, 2024
- Discretionary RAUM · $243M to $306MApr 17, 2023 to Mar 26, 2024
- HNW RAUM · $159M to $192MApr 17, 2023 to Mar 26, 2024
- Individual RAUM · $88.5M to $108MApr 17, 2023 to Mar 26, 2024
Signals
4 dated events
- Graye Michael Freeman registered as an investment adviser representative at Nikulski Financial, Inc.Sep 14, 2026 · Advisor registered · fact
- Ryan David Bintz left Nikulski Financial, Inc. for Merrill Lynch, Pierce, Fenner & Smith Incorporated (registered 2026-07-30)Jun 8, 2026 · Advisor changed firm · fact
- Roy C Lines left Nikulski Financial, Inc. for Lpl Financial Llc (registered 2024-10-04)Aug 22, 2024 · Advisor changed firm · fact
- Nikulski Financial, Inc. filed its initial SEC registration (Form ADV)Jan 26, 2017 · 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 email
- info@nikulskifinancial.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 563-344-0118reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 563-344-0120reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 888-344-0118reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/nikulski-financial-inc-reportedpublic record, Form ADV, Sep 17, 2026
- Website
- nikulskifinancial.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 563-344-0118reportedpublic record, Form ADV, Mar 17, 2026
- Contact form
- nikulskifinancial.com/contact-usreportedpublished by the firm, firm site, Sep 15, 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
- $64.1Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026