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
Cladis Investment Advisory LLC
Latest filing Mar 5, 2026
First filing on the tape Jun 21, 2022 · 8 filings
SEC status approved since Jul 21, 2022
RAUM
$243M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
62%
$151M individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$80.9M
derived; firm RAUM over IAPD count
Employees
3
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
8 filings and snapshots on the tape
RAUM$243M as of Mar 5, 2026
Mar 30, 2023$105M then
HNW client RAUM$124M as of Mar 5, 2026
Mar 30, 2023$55.1M then
State-registered IARs (5.B.3)3 as of Mar 5, 2026
Mar 30, 20232 then
Employees (5.A)3 as of Mar 5, 2026
Mar 30, 20232 then
Private funds: no history
RAUM +17% over the last fiscal year+32% a year over threeIARs 2 to 3
Practice profile
derived from the filing of Mar 5, 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
- Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
- RAUM per advisor
- $80.9MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 38derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.7MderivedHNW RAUM over HNW clients
- Average account
- $885,455derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 21%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 3.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +17%derivedbetween the last two annual amendments
- Advisor growth, one year
- +50%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +2.7%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, otherreportedItem 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$124M51%
- Charitable organizations$51.8M21%
- Corporations and businesses$39.8M16%
- Individuals$27.3M11%
- Individual clients
- 68reported
- HNW clients
- 46reported
- Pension plan clients
- n/areported
- Charitable clients
- 5reported
- Accounts
- 274reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.62 fund_share=0.0 institutional_share=0.21 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Nicholas Richard Cladis | Billings, Mt | May 18, 2010 | 39 y | 2 |
| Tracy Weidler Hawbaker | Billings, Mt | Jan 25, 2013 | 20 y | 2 |
| Henry George Zander | Billings, Mt | Sep 17, 2025 | 17 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
- Tracy Weidler Hawbaker from Capstone WealthJan 25, 2013 · Other
- Nicholas Richard Cladis from Capstone WealthMay 18, 2010 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Richard Nicholas Cladis · Manager & Chief Compliance Officercontrolsince 04/2010 · owns 75% or more
- Weidler Tracy Hawbaker · Chief Operations Officersince 01/2022 · owns 10% to 25%
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 |
|---|---|---|---|---|---|
| Billings, Mt · principal | 3 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 271 to 274Mar 18, 2025 to Mar 5, 2026
- Advisory employees · 2 to 3Mar 18, 2025 to Mar 5, 2026
- Charity clients · 6 to 5Mar 18, 2025 to Mar 5, 2026
- HNW clients · 41 to 46Mar 18, 2025 to Mar 5, 2026
- Individual clients · 70 to 68Mar 18, 2025 to Mar 5, 2026
- Employees · 2 to 3Mar 18, 2025 to Mar 5, 2026
- Financial planning clients · 0 to 1-10Mar 18, 2025 to Mar 5, 2026
- State-registered IARs · 2 to 3Mar 18, 2025 to Mar 5, 2026
- Discretionary RAUM · $206M to $242MMar 18, 2025 to Mar 5, 2026
- HNW RAUM · $98.7M to $124MMar 18, 2025 to Mar 5, 2026
- Individual RAUM · $26.7M to $27.3MMar 18, 2025 to Mar 5, 2026
- Non-discretionary RAUM · $573,913 to $650,240Mar 18, 2025 to Mar 5, 2026
- RAUM · $207M to $243MMar 18, 2025 to Mar 5, 2026
- Financial planning clients · 0 to 0Feb 13, 2025 to Mar 18, 2025
- Accounts · 233 to 271Mar 28, 2024 to Feb 13, 2025
- HNW clients · 35 to 41Mar 28, 2024 to Feb 13, 2025
- Individual clients · 69 to 70Mar 28, 2024 to Feb 13, 2025
- Financial planning clients · 1-10 to 0Mar 28, 2024 to Feb 13, 2025
- Discretionary RAUM · $139M to $206MMar 28, 2024 to Feb 13, 2025
- HNW RAUM · $82.6M to $98.7MMar 28, 2024 to Feb 13, 2025
- Individual RAUM · $25.8M to $26.7MMar 28, 2024 to Feb 13, 2025
- Non-discretionary RAUM · $510,683 to $573,913Mar 28, 2024 to Feb 13, 2025
- RAUM · $140M to $207MMar 28, 2024 to Feb 13, 2025
- Accounts · 205 to 233Apr 4, 2023 to Mar 28, 2024
- Charity clients · 5 to 6Apr 4, 2023 to Mar 28, 2024
- HNW clients · 25 to 35Apr 4, 2023 to Mar 28, 2024
- Individual clients · 67 to 69Apr 4, 2023 to Mar 28, 2024
- Discretionary RAUM · $104M to $139MApr 4, 2023 to Mar 28, 2024
- HNW RAUM · $55.1M to $82.6MApr 4, 2023 to Mar 28, 2024
- Individual RAUM · $24.7M to $25.8MApr 4, 2023 to Mar 28, 2024
- Non-discretionary RAUM · $493,994 to $510,683Apr 4, 2023 to Mar 28, 2024
- RAUM · $105M to $140MApr 4, 2023 to Mar 28, 2024
- Accounts · 188 to 205Sep 28, 2022 to Mar 30, 2023
- HNW clients · 29 to 25Sep 28, 2022 to Mar 30, 2023
- Individual clients · 60 to 67Sep 28, 2022 to Mar 30, 2023
- Discretionary RAUM · $111M to $104MSep 28, 2022 to Mar 30, 2023
- HNW RAUM · $63.6M to $55.1MSep 28, 2022 to Mar 30, 2023
- Individual RAUM · $20.0M to $24.7MSep 28, 2022 to Mar 30, 2023
- Non-discretionary RAUM · $504,734 to $493,994Sep 28, 2022 to Mar 30, 2023
- RAUM · $112M to $105MSep 28, 2022 to Mar 30, 2023
Signals
1 dated events
- Cladis Investment Advisory Llc filed its initial SEC registration (Form ADV)Jun 21, 2022 · 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
- brenda@cladisadvisory.comreportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 406-259-4939reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 406-281-8477reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- CLADISADVISORY.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 406-259-4939reportedpublic record, Form ADV, Mar 5, 2026
- Team page
- cladisadvisory.com/./teamreportedpublished by the firm, firm site, Sep 16, 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
- $80.9Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026