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

Gradient Advisors, LLC

Independent wealth managerArden Hills, MinnesotaCRD 152665SEC 801-71000websiteIAPD
Latest filing Mar 31, 2026
First filing on the tape Jan 10, 2012 · 66 filings
SEC status approved since Feb 10, 2010
RAUM
$289M
reported, Item 5.F
Discretionary
0.0%
of RAUM
Private clients
100%
$289M individuals and HNW
Advisors
184
registered through the firm on IAPD
RAUM per advisor
$1.6M
derived; firm RAUM over IAPD count
Employees
173
166 advisory (5.B.1)
Offices
165
beyond the principal office
Private funds
0
reported on Schedule D
History
66 filings and snapshots on the tape
RAUM$289M as of Mar 31, 2026
Feb 10, 2012$1.1M then
HNW client RAUM$100M as of Mar 31, 2026
Mar 21, 2018$2.8M then
State-registered IARs (5.B.3)173 as of Mar 31, 2026
Feb 10, 20120 then
Employees (5.A)173 as of Mar 31, 2026
Feb 6, 201365 then
Private funds: no history
RAUM +32% over the last fiscal year+18% a year over threeIARs 169 to 173offices 153 to 165
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
Archetypes, each a printed rule
  • Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
  • Multi-office growth platform · an independent wealth manager (not a wirehouse, national broker-dealer RIA or broker-dealer affiliated firm) with at least five offices, at least 50 advisors, and RAUM up at least 20 percent over the last annual amendment
RAUM per advisor
$1.6MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
12derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.9MderivedHNW RAUM over HNW clients
Average account
$134,411derivedRAUM over accounts (5.F.2.f)
Discretionary
0.0%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.9derivedItem 5.A over advisors
Advisors per office
1.1derived166 offices incl. principal (1.F.5)
RAUM growth, one year
+32%derivedbetween the last two annual amendments
Advisor growth, one year
+2.4%derivedItem 5.B.3 between annual amendments
Client growth, one year
-33%derived
Compensation
percentage of assets, fixed fees, otherreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, pension consulting, selection of other advisersreportedItem 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)
  • marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$189M65%
  • High-net-worth individuals$100M35%
  • Corporations and businesses$139,7600.0%
Individual clients
2,097reported
HNW clients
52reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
2,152reported
Financial planning clients
51-100reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixedreported
Class basis
private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=true related_bank=false bd_reps=5.0derived
Advisors registered through the firm
182 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Roger A. LongArden Hills, Mn May 27, 201121 y1
Michael Charles DaileyArden Hills, Mn Jan 20, 201237 y0
Michael David KerbyArden Hills, Mn Sep 27, 201221 y0
Michael Anthony MoylanArden Hills, Mn Oct 5, 201231 y1
Laurence Arnold BowersFort Collins, Co Jan 16, 201324 y1
Brian Keith WolfeChartered Financial ConsultantArden Hills, Mn Oct 14, 201313 y0
Brian Reilly PlainCertified Financial PlannerLa Grange, Il Nov 13, 201421 y5
Catherine Ann PetersArden Hills, Mn Dec 18, 201435 y1
Steven Lee HohenwarterArden Hills, Mn Jul 20, 201522 y0
Stephen Jordan WaltonArden Hills, Mn Jan 6, 201611 y0
Larry Dean HendersonPueblo, Co Sep 16, 201616 y0
Mark Edward JensenArden Hills, Mn Oct 3, 201613 y0
William Christopher HollingsworthArden Hills, Mn Oct 13, 201620 y0
Lyndol Hoy AndersonChartered Financial ConsultantArden Hills, Mn Oct 17, 201630 y0
Bonnie Sue ClarkArden Hills, Mn Dec 12, 201611 y1
Carol Yvonne Ransom SutterfieldArden Hills, Mn Jan 4, 201725 y4
Bradley Clifton FreelsOklahoma City, Ok Jan 31, 201714 y0
Patrick S PurcellArden Hills, Mn Mar 8, 201722 y0
Patrick Jason GuerinShoreview, Mn Mar 20, 201715 y0
Paul John KozakArden Hills, Mn Mar 23, 201731 y1
James William CummingsTopeka, Ks May 9, 201723 y1
Travis Michael ShermanHoover, Al May 15, 201725 y2
Larry John MahoneyCertified Financial PlannerArden Hills, Mn Aug 9, 201739 y3
Carson Jerome GravesArlington, Tx Sep 22, 201724 y1
Timothy Kevin KaleyArden Hills, Mn Sep 27, 201711 y0
Gerald Gordon GinwrightBirmingham, Al Oct 16, 201738 y0
Jolyn ChappellGunnison, Ut Oct 17, 201716 y3
Kevin Douglas KluteBettendorf, Ia Oct 18, 201713 y0
Thomas Gregory HarperArden Hills, Mn Feb 19, 201817 y2
Garry Steven SnowArden Hills, Mn Aug 8, 201838 y1
Gail Ann AdlerArden Hills, Mn Sep 12, 201819 y0
Paul David BrownWebster, Tx Oct 4, 201818 y1
Matthew Shawn ElkinsBeaver, Wv Oct 26, 201823 y0
David James TauzinHouma, La Jan 8, 201921 y1
Troy D SimonsonArden Hills, Mn Mar 18, 201929 y1
Cynthia Adela Marie BleicherAlbuquerque, Nm May 24, 201910 y0
Brent A MarshallPersonal Financial SpecialistBullhead City, Az Jun 28, 201944 y4
Skyelyn L LaysonMacon, Ga Aug 22, 201915 y0
Leslie W. TurnerKnoxville, Tn Sep 24, 201928 y0
Jeffrey Thomas NashAtlanta, Ga Oct 4, 201925 y0
All 182 advisors at Gradient Advisors, LLC
Advisor movement
25 left, 20 joined in 12 months
net -5 in 12 months4 left in 90 days5 joined in 90 daysdeparture rate 14% of current headcount71 left over 36 months
Left, latest
Joined, latest
Teams: two or more advisors moving together within fourteen days, from one state
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • Keith Adam Estall · President/ Elected Managercontrol
    since 01/2017 · owns less than 5%
  • Ann Catherine Peters · Chief Compliance Officer
    since 12/2014 · owns less than 5%
Entity owners
  • Charles E. Lucius Revocable Trust · Member
    direct · owns 75% or more
Related persons
Schedule D 7.A
  • Ascentium Insurance Solutions, LLC
    real estaten
  • Core Income Services, LLC
    real estaten
  • Gradient Assurance, LLC
    real estaten
  • Gradient Financial Group, LLC
    insurancen
  • Gradient Insurance Brokerage, LLC
    real estaten
  • Gradient Investments, LLC
    investment advisernRAUM $8.8B
  • Gradient Wealth Management
    broker-dealerinvestment advisernRAUM $608M
Advisers that list Gradient Advisors, LLC as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Arden Hills, Mn · principal1854414
Pueblo, Co410
Knoxville, Tn301
Topeka, Ks310
Colorado Springs, Co310
Mesquite, Nv300
Kansas City, Mo300
Tucson, Az200
Canton, Ga200
Chesapeake, Va210
Englewood, Co220
Geneva, Il210
Greenville, Nc210
Greenville, Sc210
Lakewood, Co210
Lecanto, Fl200
Omaha, Ne210
Overland Park, Ks200
Pensacola, Fl200
Pittsburgh, Pa210
Offices
Schedule D 1.F, the 25 largest
  • Brighton, MI2 employees
  • Gilbert, AZ2 employees
  • Greensboro, NC2 employees
  • Kansas City, MO2 employees
  • Pueblo, CO2 employees
  • Davison, MI2 employees
  • Salisbury, NC2 employees
  • Macon, GA1 employees
  • Mechanicsville, VA1 employees
  • Mokena, IL1 employees
  • Roanoke, VA1 employees
  • San Antonio, TX1 employees
  • Sandpoint, ID1 employees
  • Schaumburg, IL1 employees
  • The Villages, FL1 employees
  • Warsaw, MO1 employees
  • Webster, TX1 employees
  • Bloomington, MN1 employees
  • West Fargo, ND1 employees
  • Bullhead City, AZ1 employees
  • Chesapeake, VA1 employees
  • Clear Lake, IA1 employees
  • Fairview Heights, IL1 employees
  • Knoxville, TN1 employees
  • Laguna Niguel, CA1 employees
ADV anomalies
3 against comparable advisers; where to look, not conclusions
  • clients down average size upCombination · filing Mar 31, 2026
    private clients fell 20 percent or more while RAUM per client rose 30 percent or more: a move up-market or the departure of small accounts. RAUM $218,611,410 to $289,253,282, advisors 169 to 173, private clients 3220 to 2149, offices 153 to 165 (2025-04-25 to 2026-03-31)
    peers: independent wealth managers, $100M to $500M (5,676)
  • low discretionary shareStatic outlier · filing Mar 31, 2026
    discretionary share of RAUM of 0% against a peer median of 100% (5676 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    peers: independent wealth managers, $100M to $500M (5,676) · 0.0% percentile
  • compensation changedChange between filings · filing Mar 31, 2026
    hourly charges (Item 5.E.2): yes on the filing of 2025-12-10, no on the filing of 2026-03-31
    peers: independent wealth managers, $100M to $500M (5,676)
What changed
consecutive filings, newest first
  • Accounts · 3,222 to 2,152
    Dec 10, 2025 to Mar 31, 2026
  • Advisory employees · 169 to 166
    Dec 10, 2025 to Mar 31, 2026
  • BD registered reps · 2 to 5
    Dec 10, 2025 to Mar 31, 2026
  • Corporate clients · unset to 3.0
    Dec 10, 2025 to Mar 31, 2026
  • HNW clients · 53 to 52
    Dec 10, 2025 to Mar 31, 2026
  • Individual clients · 3,167 to 2,097
    Dec 10, 2025 to Mar 31, 2026
  • Employees · 169 to 173
    Dec 10, 2025 to Mar 31, 2026
  • State-registered IARs · 169 to 173
    Dec 10, 2025 to Mar 31, 2026
  • Other offices · 153 to 165
    Dec 10, 2025 to Mar 31, 2026
  • HNW RAUM · $84.9M to $100M
    Dec 10, 2025 to Mar 31, 2026
  • Individual RAUM · $134M to $189M
    Dec 10, 2025 to Mar 31, 2026
  • Non-discretionary RAUM · $219M to $289M
    Dec 10, 2025 to Mar 31, 2026
  • Pension RAUM · 188459.0 to unset
    Dec 10, 2025 to Mar 31, 2026
  • RAUM · $219M to $289M
    Dec 10, 2025 to Mar 31, 2026
  • Financial planning clients · 51-100 to 51-100
    May 6, 2025 to Jul 3, 2025
  • Accounts · 2,706 to 3,222
    May 20, 2024 to Apr 25, 2025
  • Advisory employees · 152 to 169
    May 20, 2024 to Apr 25, 2025
  • Advisory activities · 5 to 4
    May 20, 2024 to Apr 25, 2025
  • BD registered reps · 1 to 2
    May 20, 2024 to Apr 25, 2025
  • HNW clients · 45 to 53
    May 20, 2024 to Apr 25, 2025
  • Individual clients · 2,658 to 3,167
    May 20, 2024 to Apr 25, 2025
  • Employees · 157 to 169
    May 20, 2024 to Apr 25, 2025
  • Insurance-licensed employees · 0 to 2
    May 20, 2024 to Apr 25, 2025
  • State-registered IARs · 152 to 169
    May 20, 2024 to Apr 25, 2025
  • Other offices · 129 to 153
    May 20, 2024 to Apr 25, 2025
  • HNW RAUM · $80.7M to $84.9M
    May 20, 2024 to Apr 25, 2025
  • Individual RAUM · $126M to $134M
    May 20, 2024 to Apr 25, 2025
  • Non-discretionary RAUM · $207M to $219M
    May 20, 2024 to Apr 25, 2025
  • Pension RAUM · $302,215 to $188,459
    May 20, 2024 to Apr 25, 2025
  • RAUM · $207M to $219M
    May 20, 2024 to Apr 25, 2025
  • Discretionary RAUM · $207M to $0
    Apr 9, 2024 to May 20, 2024
  • Non-discretionary RAUM · $0 to $207M
    Apr 9, 2024 to May 20, 2024
  • Accounts · 1,434 to 2,706
    Jun 28, 2023 to Mar 29, 2024
  • Advisory employees · 137 to 152
    Jun 28, 2023 to Mar 29, 2024
  • HNW clients · 30 to 45
    Jun 28, 2023 to Mar 29, 2024
  • Individual clients · 1,399 to 2,658
    Jun 28, 2023 to Mar 29, 2024
  • Employees · 142 to 157
    Jun 28, 2023 to Mar 29, 2024
  • State-registered IARs · 142 to 152
    Jun 28, 2023 to Mar 29, 2024
  • Discretionary RAUM · $177M to $207M
    Jun 28, 2023 to Mar 29, 2024
  • HNW RAUM · $48.3M to $80.7M
    Jun 28, 2023 to Mar 29, 2024
Signals
60 dated events
  • James Patrick Wade registered as an investment adviser representative at Gradient Advisors, Llc
    Sep 14, 2026 · Advisor registered · fact
  • Scott Gaylen Ballinger left Gradient Advisors, Llc for Impact Partnership Wealth, Llc (registered 2026-08-10)
    Aug 3, 2026 · Advisor changed firm · fact
  • Todd Thomas Hulliberger left Gradient Advisors, Llc for Reliance Asset Management Llc (registered 2026-04-02)
    Aug 3, 2026 · Advisor changed firm · fact
  • Travis Donald Maxon left Gradient Advisors, Llc for Reliance Asset Management Llc (registered 2026-05-27)
    Aug 3, 2026 · Advisor changed firm · fact
  • 2 advisors left Gradient Advisors, LLC (Davison, MI) for Reliance Asset Management LLC on the same day
    Aug 3, 2026 · Team lift-out · derived
  • 2 advisors left New Frontier Wealth Management (Englewood, CO) for Gradient Advisors, LLC on the same day
    Jun 26, 2026 · Team lift-out · derived
  • Mary Elaine Lanterman left Gradient Advisors, Llc for El Camino Real Financial Advisors (registered 2026-08-13)
    Jun 22, 2026 · Advisor changed firm · fact
  • Jocelyn Diane Muehlbauer left Gradient Advisors, Llc for Domain Money Advisors, Llc (registered 2026-05-17)
    May 15, 2026 · Advisor changed firm · fact
  • Ralph Lloyd Gale left Gradient Advisors, Llc for Foundations Investment Advisors Llc (registered 2026-05-27)
    May 15, 2026 · Advisor changed firm · fact
  • Andrew Chancellor Cooke left Gradient Advisors, Llc for Purpose Driven Wealth Advisors Llc (registered 2026-04-24)
    Apr 24, 2026 · Advisor changed firm · fact
  • Stuart Mathew Hunsicker left Gradient Advisors, Llc for Purpose Driven Wealth Advisors Llc (registered 2026-04-24)
    Apr 24, 2026 · Advisor changed firm · fact
  • Gradient Advisors, Llc reported 165 offices beyond its principal office, up from 153 (2025-12-10 to 2026-03-31)
    Mar 31, 2026 · Office count change · derived
  • Tyler Patrick Ellegard left Gradient Advisors, Llc for Gradient Investments, Llc (registered 2026-01-02)
    Mar 19, 2026 · Advisor changed firm · fact
  • Mark Gordon Huhta left Gradient Advisors, Llc for Alphastar Capital Management (registered 2026-03-05)
    Mar 5, 2026 · Advisor changed firm · fact
  • Sandra Kay Minardi left Gradient Advisors, Llc for Sandman Wealth Management (registered 2026-01-06)
    Feb 5, 2026 · Advisor changed firm · fact
  • Robert Leroy Gardner left Gradient Advisors, Llc for Ip Financial Advisory Services Llc (registered 2026-01-20)
    Jan 20, 2026 · Advisor changed firm · fact
  • Leslie Kathryn Hollingsworth left Gradient Advisors, Llc for Simplicity Wealth (registered 2026-02-12)
    Jan 15, 2026 · Advisor changed firm · fact
  • Robert Steven Kolb left Gradient Advisors, Llc for Kolb Wealth Management, Llc (registered 2026-01-14)
    Jan 13, 2026 · Advisor changed firm · fact
  • Braden Ralph Kolb left Gradient Advisors, Llc for Kolb Wealth Management, Llc (registered 2026-01-14)
    Jan 13, 2026 · Advisor changed firm · fact
  • Neal Gordon Huffman left Gradient Advisors, Llc for Royal Fund Management, Llc (registered 2026-03-17)
    Jan 6, 2026 · Advisor changed firm · fact
  • John Weaver Bunt left Gradient Advisors, Llc for Integrity Advisory Solutions (registered 2026-01-08)
    Dec 31, 2025 · Advisor changed firm · fact
  • Lamaar Edward Steadman left Gradient Advisors, Llc for Gradient Investments, Llc (registered 2026-08-11)
    Dec 31, 2025 · Advisor changed firm · fact
  • Mark Gerard Munger left Gradient Advisors, Llc for Integrity Alliance, Llc (registered 2026-01-02)
    Dec 31, 2025 · Advisor changed firm · fact
  • John Michael Ingham left Gradient Advisors, Llc for Gradient Investments, Llc (registered 2025-12-19)
    Dec 18, 2025 · Advisor changed firm · fact
  • 2 advisors left Gradient Advisors, LLC (Shoreview, MN) for Gradient Investments, LLC within 13 days
    Dec 18, 2025 · Team lift-out · derived
  • Ryan Alexander Mesimer left Gradient Advisors, Llc for Advisory Alpha, Llc (registered 2026-01-02)
    Dec 16, 2025 · Advisor changed firm · fact
  • Christina Maria Walasik left Gradient Advisors, Llc for Pickwick Wealth Management (registered 2025-10-20)
    Nov 20, 2025 · Advisor changed firm · fact
  • William Murrell Cutler left Gradient Advisors, Llc for Envest Advisors, Llc (registered 2025-10-13)
    Nov 3, 2025 · Advisor changed firm · fact
  • Robert Austin Emery left Gradient Advisors, Llc for Envest Advisors, Llc (registered 2025-10-13)
    Nov 3, 2025 · Advisor changed firm · fact
  • Nicholas Thornhill left Gradient Advisors, Llc for Lpl Financial Llc (registered 2025-10-15)
    Oct 16, 2025 · Advisor changed firm · 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
Firm profile
linkedin.com/company/gradient-advisors-llcreportedpublic record, Form ADV, Sep 17, 2026
Website
house.gradientadvisors.comreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone
877-885-0508reportedpublic record, Form ADV, Mar 31, 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
$1.6Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026