DFX Intelligence

RIA Intelligence

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SEC-registered adviser

S•••• R••• P•••••• T•••••• A•• W••••• M••••••••• L••

Independent wealth managerCloquet, MinnesotaCRD 152003SEC 801-119587website IAPD

Latest filing Apr 20, 2026

First filing on the tape Sep 3, 2020 · 23 filings

SEC status approved since Oct 9, 2020

RAUM

$356M

reported, Item 5.F

Discretionary

98%

of RAUM

Private clients

83%

$295M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$71.2M

derived; firm RAUM over IAPD count

Employees

5 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

23 filings and snapshots on the tape

RAUM$356M as of Apr 20, 2026

Jan 25, 2021$131M then

HNW client RAUM$130M as of Apr 20, 2026

Jan 25, 2021$25.0M then

State-registered IARs (5.B.3)5 as of Apr 20, 2026

Jan 25, 20214 then

Employees (5.A)6 as of Apr 20, 2026

Jan 25, 20214 then

Private funds: no history

RAUM +15% over the last fiscal year+25% a year over threeIARs 6 to 5

Practice profile

derived from the filing of Apr 20, 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: $71.2MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 199derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $323,212derivedHNW RAUM over HNW clients
Average account: $170,893derivedRAUM over accounts (5.F.2.f)
Discretionary: 98%derivedof RAUM
Institutional: 2.1%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 1.2derivedItem 5.A over advisors
Advisors per office: 2.5derived2 offices incl. principal (1.F.5)
RAUM growth, one year: +15%derivedbetween the last two annual amendments
Advisor growth, one year: -17%derivedItem 5.B.3 between annual amendments
Client growth, one year: +4.4%derived
Compensation: percentage of assetsreportedItem 5.E
Advisory activities: portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for investment companiesreportedItem 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

Individuals$166M46%
High-net-worth individuals$130M36%
Investment companies$53.7M15%
Pension and profit-sharing plans$7.3M2.1%

Individual clients: 596reported
HNW clients: 401reported
Pension plan clients: n/areported
Charitable clients: 0reported
Accounts: 2,084reported
Financial planning clients: reported
Wrap fee programs: noreported
Custody of client assets: noreported
Compensation: % of AUMreported
Class basis: private_client_share=0.83 fund_share=0.15 institutional_share=0.02 related_bd=false related_bank=false bd_reps=0.0derived

Advisors registered through the firm

5 on IAPD today, longest tenure first

Name	Branch	Here since	In industry	Prior firms
T•••• A•••• K••••	Cloquet, Mn	Dec 16, 2013	26 y	0
M••• J••••• C•••	Cloquet, Mn	Dec 16, 2013	27 y	1
K•••• A•• J••••••	Cloquet, Mn	Mar 1, 2014	33 y	0
D••• A••• A••••	Cloquet, Mn	May 8, 2020	42 y	2
J••• A••••Certified Financial Planner, Chartered Financial Consultant	Cloquet, Mn	Jun 12, 2021	16 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

D••• A••• A•••• from N•••• C•••••• F•••••••• A•••••••• L••
May 8, 2020 · Other
M••• J••••• C••• from A••••••••• F•••••••• S•••••••• L••
Dec 16, 2013 · Affiliated broker-dealer or bank to independent RIA

Every departure Every arrival

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

C•••• M•••• J••••• · Managing Member & Chief Compliance Officercontrol
since 01/2013 · owns 50% to 75%
K••••• T••••• A•••• · Managing Membercontrol
since 12/2009 · owns 50% to 75%

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
Cloquet, Mn · principal	5	0	0

Offices

Schedule D 1.F, the 25 largest

Duluth, MN2 employees

What changed

consecutive filings, newest first

Accounts · 1,898 to 2,084
Sep 17, 2025 to Jan 21, 2026
Advisory employees · 6 to 5
Sep 17, 2025 to Jan 21, 2026
HNW clients · 54 to 401
Sep 17, 2025 to Jan 21, 2026
Individual clients · 901 to 596
Sep 17, 2025 to Jan 21, 2026
State-registered IARs · 6 to 5
Sep 17, 2025 to Jan 21, 2026
Discretionary RAUM · $302M to $349M
Sep 17, 2025 to Jan 21, 2026
HNW RAUM · $84.7M to $130M
Sep 17, 2025 to Jan 21, 2026
Individual RAUM · $172M to $166M
Sep 17, 2025 to Jan 21, 2026
Non-discretionary RAUM · $7.2M to $7.3M
Sep 17, 2025 to Jan 21, 2026
Pension RAUM · $7.2M to $7.3M
Sep 17, 2025 to Jan 21, 2026
RAUM · $309M to $356M
Sep 17, 2025 to Jan 21, 2026
Accounts · 1,834 to 1,898
May 17, 2024 to Feb 19, 2025
Advisory activities · 2 to 3
May 17, 2024 to Feb 19, 2025
Charity clients · 2 to 0
May 17, 2024 to Feb 19, 2025
HNW clients · 19 to 54
May 17, 2024 to Feb 19, 2025
Individual clients · 923 to 901
May 17, 2024 to Feb 19, 2025
Pension plan clients · 3.0 to unset
May 17, 2024 to Feb 19, 2025
Employees · 7 to 6
May 17, 2024 to Feb 19, 2025
Financial planning clients · unset to
May 17, 2024 to Feb 19, 2025
Discretionary RAUM · $218M to $302M
May 17, 2024 to Feb 19, 2025
HNW RAUM · $27.0M to $84.7M
May 17, 2024 to Feb 19, 2025
Individual RAUM · $193M to $172M
May 17, 2024 to Feb 19, 2025
Non-discretionary RAUM · $6.5M to $7.2M
May 17, 2024 to Feb 19, 2025
Pension RAUM · $1.3M to $7.2M
May 17, 2024 to Feb 19, 2025
RAUM · $225M to $309M
May 17, 2024 to Feb 19, 2025
Accounts · 1,617 to 1,834
Nov 21, 2023 to Jan 12, 2024
Charity clients · 3 to 2
Nov 21, 2023 to Jan 12, 2024
HNW clients · 21 to 19
Nov 21, 2023 to Jan 12, 2024
Individual clients · 802 to 923
Nov 21, 2023 to Jan 12, 2024
Discretionary RAUM · $177M to $218M
Nov 21, 2023 to Jan 12, 2024
HNW RAUM · $29.1M to $27.0M
Nov 21, 2023 to Jan 12, 2024
Individual RAUM · $150M to $193M
Nov 21, 2023 to Jan 12, 2024
Non-discretionary RAUM · $5.8M to $6.5M
Nov 21, 2023 to Jan 12, 2024
Pension RAUM · $1.0M to $1.3M
Nov 21, 2023 to Jan 12, 2024
RAUM · $183M to $225M
Nov 21, 2023 to Jan 12, 2024
Accounts · 1,300 to 1,617
Nov 8, 2022 to Jan 20, 2023
Charity clients · 0 to 3
Nov 8, 2022 to Jan 20, 2023
HNW clients · 20 to 21
Nov 8, 2022 to Jan 20, 2023
Individual clients · 750 to 802
Nov 8, 2022 to Jan 20, 2023
Pension plan clients · 0 to 3
Nov 8, 2022 to Jan 20, 2023

Signals

1 dated events

S•••• R••• P•••••• T•••••• A•• W••••• M••••••••• L•• filed its initial SEC registration (Form ADV)
Sep 3, 2020 · 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: i•••@s•••••••••.comreportedpublished by the firm, firm site, Sep 15, 2026
Business phone: 218-336-2952reportedpublished by the firm, firm site, Sep 15, 2026
Business phone: 218-722-0605reportedpublished by the firm, firm site, Sep 15, 2026
Business phone: 218-879-3262reportedpublished by the firm, firm site, Sep 15, 2026
Website: s•••••••••.comreportedpublic record, Form ADV, Sep 21, 2026
Principal office phone: (218) 879-3262reportedpublic record, Form ADV, Apr 20, 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: $71.2Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026