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.

Former SEC-registered adviser

Mra Associates

Former SEC-registered adviserPhoenix, ArizonaCRD 152734SEC 801-71045IAPD
Legal name Mra Associates USA LLC
Latest filing Dec 10, 2020
First filing on the tape Apr 4, 2012 · 41 filings
RAUM
$2.6B
reported, Item 5.F
Discretionary
66%
of RAUM
Private clients
56%
$1.5B individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
56
27 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
41 filings and snapshots on the tape
RAUM$2.6B as of Mar 30, 2020
Apr 4, 2012$1.1B then
HNW client RAUM$1.4B as of Mar 30, 2020
Mar 28, 2018$1.3B then
State-registered IARs (5.B.3)27 as of Mar 30, 2020
Mar 27, 201317 then
Employees (5.A)56 as of Mar 30, 2020
Mar 27, 201333 then
Private funds7 as of Mar 30, 2020
Mar 18, 20141 then
RAUM +14% over the last fiscal year-0.8% a year over threeIARs 27 to 27
Practice profile
derived from the filing of Dec 10, 2020; every figure names its basis
RAUM per advisor
$97.9MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
23derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$4.6MderivedHNW RAUM over HNW clients
Average account
$1.1MderivedRAUM over accounts (5.F.2.f)
Discretionary
66%derivedof RAUM
Institutional
30%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
2.1derivedItem 5.A over advisors
Advisors per office
9.0derived3 offices incl. principal (1.F.5)
RAUM growth, one year
+14%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+5.1%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, pension consulting, selection of other advisersreportedItem 5.G
Custody
$1.5B, 416 clientsreportedItem 9.A
Ownership
controlled by a public reporting companyderived
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)
  • an independent public accountant performs a surprise examination (9.C.1)
  • controlled by a public reporting company (10.A)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$1.4B52%
  • Charitable organizations$742M28%
  • Pooled investment vehicles$232M8.8%
  • Corporations and businesses$128M4.9%
  • Individuals$108M4.1%
  • Pension and profit-sharing plans$47.6M1.8%
Individual clients
311reported
HNW clients
302reported
Pension plan clients
14reported
Charitable clients
20reported
Accounts
2,424reported
Financial planning clients
51-100reported
Wrap fee programs
noreported
Custody of client assets
$1.5B for 416 clientsreported
Compensation
% of AUM, fixedreported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • Sellers Christina Burroughs · Managing Partner; Board Membercontrol
      since 02/2012 · owns less than 5%
    • David Mark Feldman · Chief Executive Officer, Managing Partner; Board Membercontrol
      since 02/2012 · owns less than 5%
    • Michael Harold Hirte · Managing Partner; Board Membercontrol
      since 05/2018 · owns less than 5%
    • Scott Bradley Lemon · Managing Partner; Board Membercontrol
      since 12/2009 · owns less than 5%
    • Ann Maureen Rzeppa · Managing Partner; Cao; Cco; Board Membercontrol
      since 08/2013 · owns less than 5%
    • Sellers Christina Burroughs · Member/Managercontrol
      since 09/2012 · owns F of Mra Holdings LLC
    • David Mark Feldman · Member/Managercontrol
      since 09/2012 · owns 25% to 50% of Mra Holdings LLC
    • Michael Harold Hirte · Member/Managercontrol
      since 05/2018 · owns F of Mra Holdings LLC
    • Scott Bradley Lemon · Member/Managercontrol
      since 12/2009 · owns 25% to 50% of Mra Holdings LLC
    • Ann Maureen Rzeppa · Member/Managercontrol
      since 03/2017 · owns F of Mra Holdings LLC
    Entity owners
    • Mra Holdings LLC · Member
      direct · owns 75% or more
    Related persons
    Schedule D 7.A
    Offices
    Schedule D 1.F, the 25 largest
    • Wayzata, MN2 employees
    • Las Vegas, NV1 employees
    What changed
    consecutive filings, newest first
    • Private funds · 7 to unset
      Jul 28, 2020 to Dec 10, 2020
    • Related adviser · false to true
      Jul 28, 2020 to Dec 10, 2020
    • Related broker-dealer · false to true
      Jul 28, 2020 to Dec 10, 2020
    • Accounts · 2,221 to 2,424
      Dec 10, 2019 to Mar 30, 2020
    • Advisory activities · 5 to 6
      Dec 10, 2019 to Mar 30, 2020
    • Corporate clients · 20 to 17
      Dec 10, 2019 to Mar 30, 2020
    • HNW clients · 265 to 302
      Dec 10, 2019 to Mar 30, 2020
    • Individual clients · 318 to 311
      Dec 10, 2019 to Mar 30, 2020
    • Pension plan clients · 15 to 14
      Dec 10, 2019 to Mar 30, 2020
    • Pooled vehicle clients · 4 to 6
      Dec 10, 2019 to Mar 30, 2020
    • Assets in custody · $1.5B to $1.5B
      Dec 10, 2019 to Mar 30, 2020
    • Discretionary RAUM · $1.6B to $1.7B
      Dec 10, 2019 to Mar 30, 2020
    • HNW RAUM · $1.2B to $1.4B
      Dec 10, 2019 to Mar 30, 2020
    • Individual RAUM · $113M to $108M
      Dec 10, 2019 to Mar 30, 2020
    • Non-discretionary RAUM · $712M to $901M
      Dec 10, 2019 to Mar 30, 2020
    • Pension RAUM · $72.1M to $47.6M
      Dec 10, 2019 to Mar 30, 2020
    • Pooled vehicle RAUM · $198M to $232M
      Dec 10, 2019 to Mar 30, 2020
    • RAUM · $2.3B to $2.6B
      Dec 10, 2019 to Mar 30, 2020
    • Private funds · 5 to 7
      Mar 29, 2019 to Apr 30, 2019
    • Accounts · 2,022 to 2,221
      Sep 18, 2018 to Mar 29, 2019
    • Advisory employees · 24 to 27
      Sep 18, 2018 to Mar 29, 2019
    • Charity clients · 21 to 20
      Sep 18, 2018 to Mar 29, 2019
    • Corporate clients · 7 to 20
      Sep 18, 2018 to Mar 29, 2019
    • HNW clients · 267 to 265
      Sep 18, 2018 to Mar 29, 2019
    • Individual clients · 260 to 318
      Sep 18, 2018 to Mar 29, 2019
    • Pension plan clients · 14 to 15
      Sep 18, 2018 to Mar 29, 2019
    • Assets in custody · $1.4B to $1.5B
      Sep 18, 2018 to Mar 29, 2019
    • Employees · 50 to 56
      Sep 18, 2018 to Mar 29, 2019
    • State-registered IARs · 24 to 27
      Sep 18, 2018 to Mar 29, 2019
    • Private funds · 3 to 5
      Sep 18, 2018 to Mar 29, 2019
    • Discretionary RAUM · $1.7B to $1.6B
      Sep 18, 2018 to Mar 29, 2019
    • HNW RAUM · $1.3B to $1.2B
      Sep 18, 2018 to Mar 29, 2019
    • Individual RAUM · $93.7M to $113M
      Sep 18, 2018 to Mar 29, 2019
    • Non-discretionary RAUM · $700M to $712M
      Sep 18, 2018 to Mar 29, 2019
    • Pension RAUM · $73.5M to $72.1M
      Sep 18, 2018 to Mar 29, 2019
    • Pooled vehicle RAUM · $162M to $198M
      Sep 18, 2018 to Mar 29, 2019
    • RAUM · $2.4B to $2.3B
      Sep 18, 2018 to Mar 29, 2019
    • Accounts · 1,994 to 2,022
      Jan 10, 2018 to Mar 28, 2018
    • Advisory employees · 21 to 24
      Jan 10, 2018 to Mar 28, 2018
    • HNW clients · 260 to 267
      Jan 10, 2018 to Mar 28, 2018
    Signals
    2 dated events
    • Jacob William Hodges (Chairman; Board Member) no longer on Schedule A of Mra Associates (listed 2020-03-30, absent 2020-04-01)
      Apr 1, 2020 · Control person left · inference
    • Keith Bradley Routh (Board Member) no longer on Schedule A of Mra Associates (listed 2019-12-10, absent 2020-03-30)
      Mar 30, 2020 · Control person left · inference
    Across DFX
    shared identifiers only, never a name match
    No identifier-backed link to the venture, private equity, family office or sponsor graphs.
    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
    Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
    RAUM per advisor
    n/aderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026