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

Piershale Financial Group, Inc.

Former SEC-registered adviserBarrington, IllinoisCRD 156862SEC 801-72209IAPD
Latest filing Jan 20, 2023
First filing on the tape Mar 27, 2012 · 26 filings
RAUM
$264M
reported, Item 5.F
Discretionary
92%
of RAUM
Private clients
100%
$264M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
8
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
26 filings and snapshots on the tape
RAUM$264M as of Jan 20, 2023
Mar 27, 2012$129M then
HNW client RAUM$124M as of Jan 20, 2023
Mar 15, 2018$119M then
State-registered IARs (5.B.3)4 as of Jan 20, 2023
Mar 27, 20120 then
Employees (5.A)8 as of Jan 20, 2023
Mar 19, 20138 then
Private funds: no history
RAUM -11% over the last fiscal year+7.0% a year over threeIARs 4 to 4
Practice profile
derived from the filing of Jan 20, 2023; every figure names its basis
RAUM per advisor
$66.0MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
109derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.8MderivedHNW RAUM over HNW clients
Average account
$187,035derivedRAUM over accounts (5.F.2.f)
Discretionary
92%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
2.0derivedItem 5.A over advisors
Advisors per office
4.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
-11%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+1.2%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, otherreportedItem 5.G
Wrap fee program
$52.8MreportedItem 5.I
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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$140M53%
  • High-net-worth individuals$124M47%
Individual clients
366reported
HNW clients
69reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
1,412reported
Financial planning clients
251-500reported
Wrap fee programs
$0 sponsored, $0 managedreported
Custody of client assets
noreported
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
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
    • Dennis Michael Piershale · Chief Compliance Officercontrol
      since 02/2012 · owns less than 5%
    • Dennis Michael Piershale · Trusteecontrol
      since 04/2002 · owns F of Michael Dennis Piershale Living Trust
    Entity owners
    • Michael Dennis Piershale Living Trust · Direct Owner
      direct · owns 75% or more
    Related persons
    Schedule D 7.A
    No related person reported.
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Barrington, Il · principal000
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Accounts · 1,355 to 1,412
      Feb 28, 2022 to Jan 20, 2023
    • HNW clients · 86 to 69
      Feb 28, 2022 to Jan 20, 2023
    • Individual clients · 344 to 366
      Feb 28, 2022 to Jan 20, 2023
    • Discretionary RAUM · $274M to $243M
      Feb 28, 2022 to Jan 20, 2023
    • HNW RAUM · $155M to $124M
      Feb 28, 2022 to Jan 20, 2023
    • Individual RAUM · $141M to $140M
      Feb 28, 2022 to Jan 20, 2023
    • Non-discretionary RAUM · $21.8M to $21.6M
      Feb 28, 2022 to Jan 20, 2023
    • RAUM · $296M to $264M
      Feb 28, 2022 to Jan 20, 2023
    • Accounts · 1,167 to 1,355
      Feb 22, 2021 to Feb 14, 2022
    • HNW clients · 72 to 86
      Feb 22, 2021 to Feb 14, 2022
    • Individual clients · 316 to 344
      Feb 22, 2021 to Feb 14, 2022
    • Employees · 7 to 8
      Feb 22, 2021 to Feb 14, 2022
    • State-registered IARs · 3 to 4
      Feb 22, 2021 to Feb 14, 2022
    • Discretionary RAUM · $226M to $274M
      Feb 22, 2021 to Feb 14, 2022
    • HNW RAUM · $127M to $155M
      Feb 22, 2021 to Feb 14, 2022
    • Individual RAUM · $120M to $141M
      Feb 22, 2021 to Feb 14, 2022
    • Non-discretionary RAUM · $21.1M to $21.8M
      Feb 22, 2021 to Feb 14, 2022
    • RAUM · $247M to $296M
      Feb 22, 2021 to Feb 14, 2022
    • Accounts · 1,125 to 1,167
      Jun 10, 2020 to Feb 22, 2021
    • HNW clients · 65 to 72
      Jun 10, 2020 to Feb 22, 2021
    • Individual clients · 288 to 316
      Jun 10, 2020 to Feb 22, 2021
    • State-registered IARs · 4 to 3
      Jun 10, 2020 to Feb 22, 2021
    • Discretionary RAUM · $196M to $226M
      Jun 10, 2020 to Feb 22, 2021
    • HNW RAUM · $115M to $127M
      Jun 10, 2020 to Feb 22, 2021
    • Individual RAUM · $101M to $120M
      Jun 10, 2020 to Feb 22, 2021
    • Non-discretionary RAUM · $19.6M to $21.1M
      Jun 10, 2020 to Feb 22, 2021
    • RAUM · $216M to $247M
      Jun 10, 2020 to Feb 22, 2021
    • Accounts · 1,308 to 1,125
      Apr 18, 2019 to Mar 9, 2020
    • HNW clients · 67 to 65
      Apr 18, 2019 to Mar 9, 2020
    • Individual clients · 320 to 288
      Apr 18, 2019 to Mar 9, 2020
    • Discretionary RAUM · $203M to $196M
      Apr 18, 2019 to Mar 9, 2020
    • HNW RAUM · $112M to $115M
      Apr 18, 2019 to Mar 9, 2020
    • Individual RAUM · $115M to $101M
      Apr 18, 2019 to Mar 9, 2020
    • Non-discretionary RAUM · $24.7M to $19.6M
      Apr 18, 2019 to Mar 9, 2020
    • RAUM · $227M to $216M
      Apr 18, 2019 to Mar 9, 2020
    • Accounts · 1,568 to 1,308
      Aug 31, 2018 to Feb 7, 2019
    • Advisory activities · 4 to 3
      Aug 31, 2018 to Feb 7, 2019
    • HNW clients · 61 to 67
      Aug 31, 2018 to Feb 7, 2019
    • Individual clients · 330 to 320
      Aug 31, 2018 to Feb 7, 2019
    • Discretionary RAUM · $196M to $203M
      Aug 31, 2018 to Feb 7, 2019
    Signals
    3 dated events
    • Bahman Kusha Barzideh left Piershale Financial Group, Inc. for Apollon Wealth Management, Llc (registered 2023-06-29)
      Sep 26, 2023 · Advisor changed firm · fact
    • Matthew David Nadeau left Piershale Financial Group, Inc. for Apollon Wealth Management, Llc (registered 2023-06-29)
      Sep 26, 2023 · Advisor changed firm · fact
    • 2 advisors left Piershale Financial Group, Inc. (Barrington, IL) for Apollon Wealth Management, LLC on the same day
      Sep 26, 2023 · Team lift-out · derived
    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