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

Spectrum Wealth Management

Former SEC-registered adviserIndianapolis, IndianaCRD 154532SEC 801-71751IAPD
Legal name Spectrum Management Group, LLC.
Latest filing Dec 19, 2022
First filing on the tape Mar 21, 2012 · 20 filings
RAUM
$977M
reported, Item 5.F
Discretionary
98%
of RAUM
Private clients
94%
$914M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
6
6 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
20 filings and snapshots on the tape
RAUM$977M as of Mar 25, 2022
Mar 21, 2012$334M then
HNW client RAUM$879M as of Mar 25, 2022
Mar 16, 2018$481M then
State-registered IARs (5.B.3)6 as of Mar 25, 2022
Mar 21, 20120 then
Employees (5.A)6 as of Mar 25, 2022
Mar 28, 20135 then
Private funds: no history
RAUM +37% over the last fiscal year+23% a year over threeIARs 6 to 6
Practice profile
derived from the filing of Dec 19, 2022; every figure names its basis
RAUM per advisor
$163MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
38derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$6.8MderivedHNW RAUM over HNW clients
Average account
$855,621derivedRAUM over accounts (5.F.2.f)
Discretionary
98%derivedof RAUM
Institutional
6.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.0derivedItem 5.A over advisors
Advisors per office
6.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+37%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%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, portfolio management for businesses and institutions, 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)
  • 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
  • High-net-worth individuals$879M90%
  • Pension and profit-sharing plans$48.6M5.0%
  • Individuals$35.7M3.7%
  • Charitable organizations$13.4M1.4%
  • Corporations and businesses$826,4090.1%
Individual clients
96reported
HNW clients
130reported
Pension plan clients
3reported
Charitable clients
1reported
Accounts
1,142reported
Financial planning clients
101-250reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourlyreported
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
Joined, latest
Every departureEvery arrival
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • Cletus Robert Phillips · Managing Member, Chief Executive Officer, President, Shareholdercontrol
    since 09/2010 · owns 50% to 75%
  • Diane Leslie Thompson · Managing Member, Chief Financial Officer, Chief Compliance Officer, Secretary, Shareholdercontrol
    since 09/2010 · owns 25% to 50%
Related persons
Schedule D 7.A
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
  • Accounts · 1,028 to 1,142
    Sep 7, 2021 to Mar 25, 2022
  • HNW clients · 147 to 130
    Sep 7, 2021 to Mar 25, 2022
  • Individual clients · 73 to 96
    Sep 7, 2021 to Mar 25, 2022
  • Pension plan clients · 2 to 3
    Sep 7, 2021 to Mar 25, 2022
  • Employees · 12 to 6
    Sep 7, 2021 to Mar 25, 2022
  • Discretionary RAUM · $692M to $956M
    Sep 7, 2021 to Mar 25, 2022
  • HNW RAUM · $642M to $879M
    Sep 7, 2021 to Mar 25, 2022
  • Individual RAUM · $15.9M to $35.7M
    Sep 7, 2021 to Mar 25, 2022
  • Non-discretionary RAUM · $19.4M to $21.3M
    Sep 7, 2021 to Mar 25, 2022
  • Pension RAUM · $41.2M to $48.6M
    Sep 7, 2021 to Mar 25, 2022
  • RAUM · $711M to $977M
    Sep 7, 2021 to Mar 25, 2022
  • Related adviser · false to true
    Feb 3, 2021 to Sep 7, 2021
  • Business name · SPECTRUM MANAGEMENT GROUP, LLC. to SPECTRUM WEALTH MANAGEMENT
    Sep 7, 2021 to Sep 7, 2021
  • Accounts · 989 to 1,028
    Jun 29, 2020 to Feb 3, 2021
  • HNW clients · 120 to 147
    Jun 29, 2020 to Feb 3, 2021
  • Individual clients · 57 to 73
    Jun 29, 2020 to Feb 3, 2021
  • Pension plan clients · 4 to 2
    Jun 29, 2020 to Feb 3, 2021
  • Employees · 10 to 12
    Jun 29, 2020 to Feb 3, 2021
  • Discretionary RAUM · $624M to $692M
    Jun 29, 2020 to Feb 3, 2021
  • HNW RAUM · $570M to $642M
    Jun 29, 2020 to Feb 3, 2021
  • Individual RAUM · $19.1M to $15.9M
    Jun 29, 2020 to Feb 3, 2021
  • Non-discretionary RAUM · $19.9M to $19.4M
    Jun 29, 2020 to Feb 3, 2021
  • Pension RAUM · $40.7M to $41.2M
    Jun 29, 2020 to Feb 3, 2021
  • RAUM · $644M to $711M
    Jun 29, 2020 to Feb 3, 2021
  • Accounts · 886 to 989
    May 17, 2019 to Mar 27, 2020
  • HNW clients · 114 to 120
    May 17, 2019 to Mar 27, 2020
  • Individual clients · 53 to 57
    May 17, 2019 to Mar 27, 2020
  • Pension plan clients · 3 to 4
    May 17, 2019 to Mar 27, 2020
  • Employees · 9 to 10
    May 17, 2019 to Mar 27, 2020
  • Discretionary RAUM · $522M to $624M
    May 17, 2019 to Mar 27, 2020
  • HNW RAUM · $460M to $570M
    May 17, 2019 to Mar 27, 2020
  • Individual RAUM · $15.6M to $19.1M
    May 17, 2019 to Mar 27, 2020
  • Non-discretionary RAUM · $1.4M to $19.9M
    May 17, 2019 to Mar 27, 2020
  • Pension RAUM · $35.4M to $40.7M
    May 17, 2019 to Mar 27, 2020
  • RAUM · $523M to $644M
    May 17, 2019 to Mar 27, 2020
  • Business name · SPECTRUM MANAGEMENT GROUP, INC. to SPECTRUM MANAGEMENT GROUP, LLC.
    Apr 26, 2019 to May 17, 2019
  • Legal name · SPECTRUM MANAGEMENT GROUP, INC. to SPECTRUM MANAGEMENT GROUP, LLC.
    Apr 26, 2019 to May 17, 2019
  • Accounts · 864 to 886
    Mar 16, 2018 to Mar 11, 2019
  • Advisory employees · 5 to 6
    Mar 16, 2018 to Mar 11, 2019
  • Charity clients · 2 to 1
    Mar 16, 2018 to Mar 11, 2019
Signals
5 dated events
  • Robert Cletus Phillips left Spectrum Wealth Management for Sbo Management, Llc. (registered 2021-07-06)
    Jan 30, 2023 · Advisor changed firm · fact
  • Michael Everett Larson left Spectrum Wealth Management for Oxford Financial Group, Ltd (registered 2023-01-06)
    Dec 12, 2022 · Advisor changed firm · fact
  • Spectrum Wealth Management reported RAUM $977.1M, up 37% from $711.3M (2021-09-07 to 2022-03-25)
    Mar 25, 2022 · RAUM change · derived
  • Lloyd Ronald Carson (Principal) no longer on Schedule A of Spectrum Wealth Management (listed 2020-06-29, absent 2021-02-03)
    Feb 3, 2021 · Control person left · inference
  • Lloyd Ronald Carson (Principal) appeared on Schedule A of Spectrum Wealth Management
    Apr 26, 2019 · Control person joined · fact
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