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

Ashton Thomas Private Wealth

Independent wealth managerScottsdale, ArizonaCRD 153902SEC 801-71512websiteIAPD
Legal name Ashton Thomas Private Wealth, LLC
Latest filing Aug 24, 2026
First filing on the tape Feb 9, 2012 · 90 filings
SEC status approved since Jun 15, 2010
RAUM
$6.0B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
98%
$5.9B individuals and HNW
Advisors
98
registered through the firm on IAPD
RAUM per advisor
$61.3M
derived; firm RAUM over IAPD count
Employees
93
63 advisory (5.B.1)
Offices
25
beyond the principal office
Private funds
0
reported on Schedule D
History
90 filings and snapshots on the tape
RAUM$6.0B as of Aug 24, 2026
Feb 9, 2012$132M then
HNW client RAUM$5.2B as of Aug 24, 2026
Mar 29, 2018$139M then
State-registered IARs (5.B.3)63 as of Aug 24, 2026
Feb 9, 20120 then
Employees (5.A)93 as of Aug 24, 2026
Mar 22, 201311 then
Private funds: no history
RAUM +48% over the last fiscal year+44% a year over threeIARs 35 to 63offices 23 to 25
Practice profile
derived from the filing of Aug 24, 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
  • 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
  • Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
RAUM per advisor
$61.3MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
32derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$4.4MderivedHNW RAUM over HNW clients
Average account
$762,720derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.7%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.9derivedItem 5.A over advisors
Advisors per office
3.8derived26 offices incl. principal (1.F.5)
RAUM growth, one year
+48%derivedbetween the last two annual amendments
Advisor growth, one year
+80%derivedItem 5.B.3 between annual amendments
Client growth, one year
+26%derived
Compensation
percentage of assets, hourlyreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisers, otherreportedItem 5.G
Wrap fee program
$2.3BreportedItem 5.I
Custody
$6.0B, 3,229 clientsreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Firms absorbed, 24 months
1derivedhalf or more of a firm's advisors moved here within 14 days
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)
  • has custody of client cash or bank accounts (9.A.1.a)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$5.2B87%
  • Individuals$642M11%
  • Corporations and businesses$109M1.8%
  • Charitable organizations$39.9M0.7%
  • Pension and profit-sharing plans$816,5530.0%
Individual clients
1,983reported
HNW clients
1,198reported
Pension plan clients
1reported
Charitable clients
11reported
Accounts
7,879reported
Financial planning clients
26-50reported
Wrap fee programs
$0 sponsored, $0 managedreported
Custody of client assets
$6.0B for 3,229 clientsreported
Compensation
% of AUM, hourlyreported
Class basis
private_client_share=0.98 fund_share=0.0 institutional_share=0.01 related_bd=true related_bank=false bd_reps=26.0derived
Advisors registered through the firm
98 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Aaron BrodtScottsdale, AzJun 16, 201021 y2
John Clark MorzelewskiScottsdale, Az Jun 20, 201130 y1
Ryan Michael LovettCertified Financial PlannerScottsdale, AzMar 28, 201315 y0
Teresa FloresScottsdale, Az Feb 3, 201626 y3
Karen Wozniak McdadeCertified Financial PlannerTucson, Az Aug 16, 201634 y2
Lance Taylor KnightScottsdale, Az Jul 27, 201826 y2
Justin LimmerScottsdale, Az Oct 17, 201827 y2
Howard Eugene CoxChandler, Az Aug 16, 201934 y1
John Bratton DuboseCertified Financial PlannerBozeman, Mt Oct 18, 201932 y3
Rebecca Jean DammannCertified Financial PlannerBozeman, Mt Oct 18, 201914 y2
Kodi Alexander ThrustonScottsdale, AzOct 21, 201910 y0
Wills F MarcelloScottsdale, Az Dec 26, 201912 y0
Kerry Clifford SevernCertified Financial PlannerDraper, Ut Jan 7, 202032 y3
Jason Michael BuchananCertified Financial PlannerScottsdale, AzJun 3, 202020 y2
Richard A GarberScottsdale, Az Oct 22, 202034 y2
Michael Justin PorterScottsdale, Az Apr 28, 202124 y2
Katherine Ann JohnsonCasper, Wy May 20, 202129 y0
Scott Michael KnutsonScottsdale, Az Nov 4, 202132 y2
Martin James LewisHelena, Mt Nov 4, 202138 y2
Michael Jason WongPersonal Financial Specialist, Chartered Financial AnalystScottsdale, Az Nov 4, 202137 y1
Richard Bruce PyleChartered Financial ConsultantTucson, Az Feb 24, 202211 y2
Deanna TierneyHelena, MtAug 23, 202226 y2
Garett Lyle FolkersAberdeen, Wa Nov 8, 202226 y1
Kristine Dawn LantzTucson, Az Dec 13, 202225 y4
John Christopher MccloskeyCertified Financial PlannerScottsdale, Az Feb 16, 202319 y5
Karl William SchwinckDenver, Co Feb 16, 202333 y2
Nicholas Jose De La VaraChartered Financial AnalystScottsdale, AzMar 16, 202311 y0
Gaylord Brickwood LymanChartered Financial AnalystPortland, Or Apr 3, 202329 y2
Shawn Michael PorterCertified Financial PlannerScottsdale, Az Aug 10, 202325 y1
Daniel Robert MeierScottsdale, Az Sep 11, 202321 y3
Daniel Eric FontenotHelena, MtOct 11, 202313 y0
April CardozaHelena, MtNov 29, 202313 y4
Cory Blaine SchauerScottsdale, Az Jan 11, 202410 y1
C Christopher StaffordBoston, Ma Jan 12, 202434 y2
Angela Marie JohnsonGrand Junction, Co Feb 16, 202424 y3
Nicolaus David Barth HansenScottsdale, Az Feb 16, 202413 y1
Theodore William McdonaghNew York, Ny Mar 11, 202429 y2
Justine KinajScottsdale, Az Mar 11, 202410 y1
Daniel Stephen BauersNew York, Ny Mar 11, 202417 y2
Joshua Boyd MayGrand Junction, Co Apr 23, 202411 y0
All 98 advisors at Ashton Thomas Private Wealth
Advisor movement
5 left, 16 joined in 12 months
net +11 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 5.1% of current headcount13 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
  • Erica Bloudek · Coocontrol
    since 01/2024 · owns less than 5%
  • Paul Aaron Brodt · Ceocontrol
    since 03/2010 · owns less than 5%
  • Jolen Peggy Garcia · Chief Compliance Officercontrol
    since 12/2014 · owns less than 5%
  • J. Drinan Gorney · Chief Administrative Officer And General Counselcontrol
    since 09/2024 · owns less than 5%
  • Kevin Kading · Chief Financial Officercontrol
    since 03/2026 · owns less than 5%
  • Zbynek Kozelsky · Chief Operations Officercontrol
    since 03/2026 · owns less than 5%
  • Maria Heidi Brodt · Business Manager
    since 01/2013 · owns less than 5%
  • T. David Hatfield · Chief Technology Officer
    since 12/2017 · owns less than 5%
  • Leal Cynthia-Elaine Schlanger · Chief Compliance Officer
    since 01/2025 · owns less than 5%
Entity owners
  • Ashton Thomas Management LLC · Member
    direct · owns 75% or more
  • Arax Business Trust · Member
    indirect · owns 75% or more of Arax Investment Partners, LLC
  • Arax Investment Partners, LLC · Member
    indirect · owns 75% or more of Arax Midco, LLC
  • Arax Midco, LLC · Member
    indirect · owns 75% or more of Arax Wealth Management, LLC
  • Arax Wealth Management, LLC · Member
    indirect · owns 50% to 75% of Ashton Thomas Management LLC
  • Hana Holdings, LLC · Member
    indirect · owns F of Ashton Thomas Management LLC
  • Redbird Capital Partners Fund IV Genpar LLC · Trustee
    indirect · owns F of Arax Business Trust
  • Wealthvision, LLC · Member
    indirect · owns F of Ashton Thomas Management LLC
Related persons
Schedule D 7.A
Advisers that list Ashton Thomas Private Wealth as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Scottsdale, Az · principal94263
San Francisco, Ca1010
Helena, Mt910
New York, Ny610
Midland, Tx610
Sarasota, Fl550
Boston, Ma530
Tucson, Az500
Casper, Wy400
Denver, Co311
Bozeman, Mt310
Grand Junction, Co300
Honolulu, Hi200
Colorado Springs, Co201
Draper, Ut200
Aspen, Co200
Las Vegas, Nv200
Portland, Or210
Billings, Mt000
Offices
Schedule D 1.F, the 25 largest
  • Midland, TX5 employees
  • Tucson, AZ4 employees
  • Casper, WY4 employees
  • Helena, MT3 employees
  • New York, NY3 employees
  • Colorado Springs, CO3 employees
  • Denver, CO3 employees
  • Grand Junction, CO3 employees
  • Draper, UT2 employees
  • Portland, OR2 employees
  • Boston, MA2 employees
  • Bozeman, MT2 employees
  • , 1 employees
  • Aberdeen, WA1 employees
  • Billings, MT1 employees
  • El Paso, TX1 employees
  • Middleton, WI1 employees
  • Saint Helena, CA1 employees
  • Las Vegas, NV1 employees
ADV anomalies
6 against comparable advisers; where to look, not conclusions
  • control person changedChange between filings · filing Aug 24, 2026
    Kozelsky, Zbynek (CHIEF OPERATIONS OFFICER) appeared on Schedule A between the filings of 2024-04-30 and 2026-08-24
    peers: independent wealth managers, $5B to $20B (289)
  • control person changedChange between filings · filing Aug 24, 2026
    Kading, Kevin (CHIEF FINANCIAL OFFICER) appeared on Schedule A between the filings of 2024-04-30 and 2026-08-24
    peers: independent wealth managers, $5B to $20B (289)
  • control person changedChange between filings · filing Aug 24, 2026
    GORNEY, DRINAN, J. (CHIEF ADMINISTRATIVE OFFICER AND GENERAL COUNSEL) appeared on Schedule A between the filings of 2024-04-30 and 2026-08-24
    peers: independent wealth managers, $5B to $20B (289)
  • control person changedChange between filings · filing Aug 24, 2026
    Bloudek, Erica (COO) left Schedule A between the filings of 2024-04-30 and 2026-08-24
    peers: independent wealth managers, $5B to $20B (289)
  • control person changedChange between filings · filing Aug 24, 2026
    GARCIA, PEGGY, JOLEN (CHIEF COMPLIANCE OFFICER) left Schedule A between the filings of 2024-04-30 and 2026-08-24
    peers: independent wealth managers, $5B to $20B (289)
  • advisor count surgeChange between filings · filing Mar 31, 2026
    advisory representatives (Item 5.B.3) moved from 35.0 to 63.0 (+80.0%) between the annual amendments of 2025-04-28 and 2026-03-31; the peer median change was +6.0% (220 comparable advisers, 95.0th percentile of changes)
    peers: independent wealth managers, $5B to $20B (220) · 95% percentile
What changed
consecutive filings, newest first
  • Accounts · 6,733 to 7,879
    Feb 13, 2026 to Mar 31, 2026
  • Advisory employees · 35 to 63
    Feb 13, 2026 to Mar 31, 2026
  • Advisory activities · 5 to 6
    Feb 13, 2026 to Mar 31, 2026
  • BD registered reps · 15 to 26
    Feb 13, 2026 to Mar 31, 2026
  • Charity clients · 13 to 11
    Feb 13, 2026 to Mar 31, 2026
  • Corporate clients · 16 to 36
    Feb 13, 2026 to Mar 31, 2026
  • HNW clients · 874 to 1,198
    Feb 13, 2026 to Mar 31, 2026
  • Individual clients · 1,654 to 1,983
    Feb 13, 2026 to Mar 31, 2026
  • Pension plan clients · 10 to 1
    Feb 13, 2026 to Mar 31, 2026
  • Assets in custody · $1.4B to $6.0B
    Feb 13, 2026 to Mar 31, 2026
  • Employees · 114 to 93
    Feb 13, 2026 to Mar 31, 2026
  • Insurance-licensed employees · 5 to 15
    Feb 13, 2026 to Mar 31, 2026
  • Financial planning clients · 11-25 to 26-50
    Feb 13, 2026 to Mar 31, 2026
  • State-registered IARs · 35 to 63
    Feb 13, 2026 to Mar 31, 2026
  • Discretionary RAUM · $4.0B to $6.0B
    Feb 13, 2026 to Mar 31, 2026
  • HNW RAUM · $3.4B to $5.2B
    Feb 13, 2026 to Mar 31, 2026
  • Individual RAUM · $570M to $642M
    Feb 13, 2026 to Mar 31, 2026
  • Non-discretionary RAUM · $4.7M to $4.3M
    Feb 13, 2026 to Mar 31, 2026
  • Pension RAUM · $10.1M to $816,553
    Feb 13, 2026 to Mar 31, 2026
  • RAUM · $4.1B to $6.0B
    Feb 13, 2026 to Mar 31, 2026
  • Other offices · 23 to 25
    Nov 24, 2025 to Dec 4, 2025
  • Financial planning clients · 11-25 to 11-25
    May 29, 2025 to Jun 11, 2025
  • Accounts · 5,334 to 6,733
    Nov 12, 2024 to Apr 28, 2025
  • Advisory employees · 55 to 35
    Nov 12, 2024 to Apr 28, 2025
  • BD registered reps · 25 to 15
    Nov 12, 2024 to Apr 28, 2025
  • Charity clients · 25 to 13
    Nov 12, 2024 to Apr 28, 2025
  • Corporate clients · 59 to 16
    Nov 12, 2024 to Apr 28, 2025
  • HNW clients · 658 to 874
    Nov 12, 2024 to Apr 28, 2025
  • Individual clients · 1,380 to 1,654
    Nov 12, 2024 to Apr 28, 2025
  • Pension plan clients · 31 to 10
    Nov 12, 2024 to Apr 28, 2025
  • Assets in custody · $3.2M to $1.4B
    Nov 12, 2024 to Apr 28, 2025
  • Employees · 58 to 114
    Nov 12, 2024 to Apr 28, 2025
  • State-registered IARs · 55 to 35
    Nov 12, 2024 to Apr 28, 2025
  • Other offices · 22 to 23
    Nov 12, 2024 to Apr 28, 2025
  • Discretionary RAUM · $2.9B to $4.0B
    Nov 12, 2024 to Apr 28, 2025
  • HNW RAUM · $2.1B to $3.4B
    Nov 12, 2024 to Apr 28, 2025
  • Individual RAUM · $540M to $570M
    Nov 12, 2024 to Apr 28, 2025
  • Non-discretionary RAUM · $4.8M to $4.7M
    Nov 12, 2024 to Apr 28, 2025
  • Pension RAUM · $74.7M to $10.1M
    Nov 12, 2024 to Apr 28, 2025
  • RAUM · $2.9B to $4.1B
    Nov 12, 2024 to Apr 28, 2025
Signals
40 dated events
  • Cade Robert Hammarquist left Ashton Thomas Private Wealth for Corient (registered 2026-07-30)
    Jun 12, 2026 · Advisor changed firm · fact
  • April Horace left Ashton Thomas Private Wealth for G&S Capital Llc (registered 2026-05-04)
    May 4, 2026 · Advisor changed firm · fact
  • Ashton Thomas Private Wealth reported RAUM $6.0B, up 48% from $4.1B (2026-02-13 to 2026-03-31)
    Mar 31, 2026 · RAUM change · derived
  • Ashton Thomas Private Wealth reported 63 state-registered advisory representatives, up from 35 (2026-02-13 to 2026-03-31)
    Mar 31, 2026 · Advisor headcount change · derived
  • David T. Hatfield left Ashton Thomas Private Wealth for Amplify Financial, Llc (registered 2026-02-19)
    Feb 10, 2026 · Advisor changed firm · fact
  • Day Hagan Asset Management's advisors moved to Ashton Thomas Private Wealth (Sarasota, FL): 5 of 5 registered, on the same day
    Dec 5, 2025 · Firm absorbed (people side) · derived
  • Claudiu A. Barbos left Ashton Thomas Private Wealth for Amplify Financial, Llc (registered 2024-08-14)
    Nov 17, 2025 · Advisor changed firm · fact
  • Brandon J Cromer left Ashton Thomas Private Wealth for Accurate Wealth Management, Llc (registered 2025-12-02)
    Nov 17, 2025 · Advisor changed firm · fact
  • Bradley Brien Burr left Ashton Thomas Private Wealth for Encompass More Asset Management Llc (registered 2025-09-16)
    Sep 2, 2025 · Advisor changed firm · fact
  • Jay Robert Penney left Ashton Thomas Private Wealth for Encompass More Asset Management Llc (registered 2025-08-25)
    Aug 19, 2025 · Advisor changed firm · fact
  • 2 advisors left Ashton Thomas Private Wealth (Scottsdale, AZ) for Encompass More Asset Management LLC within 14 days
    Aug 19, 2025 · Team lift-out · derived
  • Ines Seferi Kasdorf left Ashton Thomas Private Wealth for Coastal Bridge Advisors (registered 2025-10-29)
    Jul 17, 2025 · Advisor changed firm · fact
  • 2 advisors left Svb Wealth (San Francisco, CA) for Ashton Thomas Private Wealth on the same day
    Jun 10, 2025 · Team lift-out · derived
  • Jessica Nicole Peabody left Ashton Thomas Private Wealth for Perigon Wealth Management, Llc (registered 2025-06-12)
    May 8, 2025 · Advisor changed firm · fact
  • Ashton Thomas Private Wealth reported RAUM $4.1B, up 40% from $2.9B (2024-11-12 to 2025-04-28)
    Apr 28, 2025 · RAUM change · derived
  • Ashton Thomas Private Wealth reported 35 state-registered advisory representatives, down from 55 (2024-11-12 to 2025-04-28)
    Apr 28, 2025 · Advisor headcount change · derived
  • Ryan Dale Stevens left Ashton Thomas Private Wealth for Ubs Financial Services Inc. (registered 2025-04-11)
    Apr 11, 2025 · Advisor changed firm · fact
  • Kristopher Alan Heig left Ashton Thomas Private Wealth for Bankers Life Advisory Services, Inc. (registered 2026-02-12)
    Jan 31, 2025 · Advisor changed firm · fact
  • 6 advisors left Wells Fargo Advisors (San Francisco, CA) for Ashton Thomas Private Wealth on the same day
    Jan 22, 2025 · Team lift-out · derived
  • Daniel Bennett left Ashton Thomas Private Wealth for Columbia Advisory Partners, Llc (registered 2024-11-27)
    Oct 10, 2024 · Advisor changed firm · fact
  • Ashton Thomas Private Wealth reported 55 state-registered advisory representatives, up from 45 (2024-06-04 to 2024-07-17)
    Jul 17, 2024 · Advisor headcount change · derived
  • Sumit Handa left Ashton Thomas Private Wealth for Arax Advisory Partners (registered 2024-05-16)
    Jun 26, 2024 · Advisor changed firm · fact
  • 2 advisors left Wells Fargo Advisors (Denver, CO) for Ashton Thomas Private Wealth on the same day
    Jun 13, 2024 · Team lift-out · derived
  • 4 advisors left Wells Fargo Advisors (Midland, TX) for Ashton Thomas Private Wealth on the same day
    Jun 7, 2024 · Team lift-out · derived
  • Erica Bloudek (Coo) appeared on Schedule A of Ashton Thomas Private Wealth
    Apr 30, 2024 · Control person joined · fact
  • 2 advisors left Wealthsource? (Grand Junction, CO) for Ashton Thomas Private Wealth on the same day
    Apr 4, 2024 · Team lift-out · derived
  • Ashton Thomas Private Wealth reported RAUM $2.9B, up 44% from $2.0B (2024-01-16 to 2024-03-27)
    Mar 27, 2024 · RAUM change · derived
  • 2 advisors left Raymond James & Associates, Inc. (New York, NY) for Ashton Thomas Private Wealth on the same day
    Mar 12, 2024 · Team lift-out · derived
  • Michael Patrick Foley (Chief Operating Officer) no longer on Schedule A of Ashton Thomas Private Wealth (listed 2023-09-29, absent 2024-01-05)
    Jan 5, 2024 · Control person left · inference
  • Albert Christopher Nassar left Ashton Thomas Private Wealth for Axxcess Wealth Management, Llc (registered 2024-02-07)
    Apr 5, 2023 · 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/ASHTON-THOMAS-PRIVATE-WEALTHreportedpublic record, Form ADV, Sep 17, 2026
Firm profile
linkedin.com/company/day-hagan-asset-management/postsreportedpublic record, Form ADV, Sep 17, 2026
Website
msi.partnersreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone
602-732-4745reportedpublic record, Form ADV, Aug 24, 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
$61.3Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026