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
Allied Investment Advisors LLC
Latest filing Jul 29, 2026
First filing on the tape Feb 6, 2014 · 42 filings
SEC status approved since Feb 13, 2014
RAUM
$1.5B
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
65%
$969M individuals and HNW
Advisors
12
registered through the firm on IAPD
RAUM per advisor
$124M
derived; firm RAUM over IAPD count
Employees
12
11 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
42 filings and snapshots on the tape
RAUM$1.5B as of Jul 29, 2026
Feb 23, 2015$180M then
HNW client RAUM$786M as of Jul 29, 2026
Jan 24, 2018$178M then
State-registered IARs (5.B.3)11 as of Jul 29, 2026
Feb 23, 20153 then
Employees (5.A)12 as of Jul 29, 2026
Feb 23, 20153 then
Private funds: no history
RAUM +31% over the last fiscal year+27% a year over threeIARs 9 to 11
Practice profile
derived from the filing of Jul 29, 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
- Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
- RAUM per advisor
- $124MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 79derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.6MderivedHNW RAUM over HNW clients
- Average account
- $617,187derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 99%derivedof RAUM
- Institutional
- 30%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 4.0derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +31%derivedbetween the last two annual amendments
- Advisor growth, one year
- +22%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +13%derived
- Compensation
- percentage of assets, hourly, subscriptionreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, publications, 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$786M53%
- Pension and profit-sharing plans$354M24%
- Individuals$183M12%
- Charitable organizations$95.9M6.4%
- Corporations and businesses$69.8M4.7%
- Individual clients
- 646reported
- HNW clients
- 307reported
- Pension plan clients
- 77reported
- Charitable clients
- 14reported
- Accounts
- 2,411reported
- Financial planning clients
- 101-250reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, hourlyreported
- Class basis
- private_client_share=0.65 fund_share=0.0 institutional_share=0.3 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
12 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Bart William Aby | Billings, Mt | Dec 5, 2011 | 20 y | 2 |
| Gary Robert LucasChartered Financial Analyst | Billings, Mt | Dec 5, 2011 | 36 y | 2 |
| Kellie Rose Hirsch | Billings, Mt | Apr 1, 2013 | 17 y | 1 |
| Brock Owen Baker | Billings, Mt | Mar 7, 2016 | 10 y | 0 |
| Eric Allen VermulmChartered Financial Analyst | Conrad, Mt | Mar 13, 2018 | 22 y | 3 |
| Sarah Lynn SideriusCertified Financial Planner | Billings, Mt | Nov 1, 2019 | 29 y | 0 |
| Tyler Ronald Elkin | Billings, Mt | Oct 13, 2022 | 28 y | 0 |
| Gabe Walter Gundlach | Billings Montana, Mt | Aug 28, 2023 | 13 y | 0 |
| Tyler Martin Crennen | Billings, Mt | Nov 18, 2024 | 14 y | 0 |
| Keith Bushnell | Billings, Mt | Apr 1, 2025 | 22 y | 0 |
| Brady Lee GoynChartered Financial Analyst | Billings, Mt | Aug 20, 2025 | 10 y | 0 |
| John Elton Galt | Billings, Mt | Jul 29, 2026 | 15 y | 1 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days1 joined in 90 daysdeparture rate 0.0% of current headcount1 left over 36 months
Left, latest
- Erika Danielle Ferris to The Wealth Consulting GroupJan 28, 2025 · RIA to RIA
Joined, latest
- John Elton Galt from Investment Management GroupJul 29, 2026 · RIA to RIA
- Erika Danielle Ferris from Empower Advisory Group, LLCJan 27, 2023 · Affiliated broker-dealer or bank to independent RIA
- Eric Allen Vermulm from Investment Management GroupMar 13, 2018 · Other
- Kellie Rose Hirsch from Dmkc Advisory Services, LLCApr 1, 2013 · Other
- Gary Robert Lucas from Dmkc Advisory Services, LLCDec 5, 2011 · Other
- Bart William Aby from Dmkc Advisory Services, LLCDec 5, 2011 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- William Bart Aby · Member Chief Operating Officer, Membercontrolsince 08/2011 · owns 10% to 25%
- Elton John Galt · Chief Compliance Officercontrolsince 07/2026 · owns less than 5%
- Robert Gary Lucas · Managing Membercontrolsince 08/2011 · owns 50% to 75%
- Allen Eric Vermulm · Chief Investment Officer And Chief Operating Officer, Membercontrolsince 02/2018 · owns 5% to 10%
- Michele White · Chief Compliance Officercontrolsince 02/2023 · owns less than 5%
- Ronald Tyler Elkin · Membersince 04/2026 · owns less than 5%
- Rose Kellie Hirsch · Membersince 04/2026 · owns less than 5%
- Lynn Sarah Siderius · Membersince 04/2026 · owns less than 5%
- Michael Daniel Kelly · Trusteesince 12/2021 · owns F of Daniel M Kelly Rev Trust
Entity owners
- Daniel M Kelly Rev Trust · Memberdirect · 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 | 12 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Conrad, MT1 employees
ADV anomalies
3 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Jul 29, 2026Galt, John, Elton (CHIEF COMPLIANCE OFFICER) appeared on Schedule A between the filings of 2023-03-20 and 2026-07-29peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Jul 29, 2026VERMULM, ERIC, ALLEN (CHIEF INVESTMENT OFFICER AND CHIEF OPERATING OFFICER, MEMBER) left Schedule A between the filings of 2023-03-20 and 2026-07-29peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Jul 29, 2026WHITE, MICHELE (CHIEF COMPLIANCE OFFICER) left Schedule A between the filings of 2023-03-20 and 2026-07-29peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Accounts · 2,138 to 2,411Mar 27, 2025 to Feb 11, 2026
- Advisory employees · 9 to 11Mar 27, 2025 to Feb 11, 2026
- Charity clients · 13 to 14Mar 27, 2025 to Feb 11, 2026
- Corporate clients · 24 to 27Mar 27, 2025 to Feb 11, 2026
- HNW clients · 278 to 307Mar 27, 2025 to Feb 11, 2026
- Individual clients · 566 to 646Mar 27, 2025 to Feb 11, 2026
- Pension plan clients · 69 to 77Mar 27, 2025 to Feb 11, 2026
- Employees · 10 to 12Mar 27, 2025 to Feb 11, 2026
- Financial planning clients · 51-100 to 101-250Mar 27, 2025 to Feb 11, 2026
- State-registered IARs · 9 to 11Mar 27, 2025 to Feb 11, 2026
- Discretionary RAUM · $1.1B to $1.5BMar 27, 2025 to Feb 11, 2026
- HNW RAUM · $611M to $786MMar 27, 2025 to Feb 11, 2026
- Individual RAUM · $150M to $183MMar 27, 2025 to Feb 11, 2026
- Non-discretionary RAUM · $17.4M to $20.5MMar 27, 2025 to Feb 11, 2026
- Pension RAUM · $253M to $354MMar 27, 2025 to Feb 11, 2026
- RAUM · $1.1B to $1.5BMar 27, 2025 to Feb 11, 2026
- Financial planning clients · 51-100 to 51-100Feb 19, 2025 to Mar 27, 2025
- Other offices · 1 to 2Feb 19, 2025 to Mar 27, 2025
- Accounts · 1,893 to 2,138Feb 21, 2024 to Feb 19, 2025
- Advisory activities · 7 to 6Feb 21, 2024 to Feb 19, 2025
- Corporate clients · 22 to 24Feb 21, 2024 to Feb 19, 2025
- HNW clients · 262 to 278Feb 21, 2024 to Feb 19, 2025
- Individual clients · 518 to 566Feb 21, 2024 to Feb 19, 2025
- Pension plan clients · 61 to 69Feb 21, 2024 to Feb 19, 2025
- Employees · 12 to 10Feb 21, 2024 to Feb 19, 2025
- Discretionary RAUM · $896M to $1.1BFeb 21, 2024 to Feb 19, 2025
- HNW RAUM · $518M to $611MFeb 21, 2024 to Feb 19, 2025
- Individual RAUM · $127M to $150MFeb 21, 2024 to Feb 19, 2025
- Non-discretionary RAUM · $16.1M to $17.4MFeb 21, 2024 to Feb 19, 2025
- Pension RAUM · $174M to $253MFeb 21, 2024 to Feb 19, 2025
- RAUM · $912M to $1.1BFeb 21, 2024 to Feb 19, 2025
- Accounts · 1,699 to 1,893Apr 20, 2023 to Feb 9, 2024
- Advisory employees · 8 to 9Apr 20, 2023 to Feb 9, 2024
- Charity clients · 12 to 13Apr 20, 2023 to Feb 9, 2024
- Corporate clients · 18 to 22Apr 20, 2023 to Feb 9, 2024
- HNW clients · 219 to 262Apr 20, 2023 to Feb 9, 2024
- Individual clients · 470 to 518Apr 20, 2023 to Feb 9, 2024
- Pension plan clients · 55 to 61Apr 20, 2023 to Feb 9, 2024
- State-registered IARs · 8 to 9Apr 20, 2023 to Feb 9, 2024
- Discretionary RAUM · $721M to $896MApr 20, 2023 to Feb 9, 2024
Signals
5 dated events
- Allied Investment Advisors Llc reported RAUM $1.5B, up 31% from $1.1B (2025-03-27 to 2026-02-11)Feb 11, 2026 · RAUM change · derived
- Erika Danielle Ferris left Allied Investment Advisors Llc for The Wealth Consulting Group (registered 2025-01-17)Jan 28, 2025 · Advisor changed firm · fact
- Michele White (Chief Compliance Officer) appeared on Schedule A of Allied Investment Advisors LlcMar 20, 2023 · Control person joined · fact
- Allied Investment Advisors Llc reported RAUM $666.9M, up 35% from $495.5M (2021-08-10 to 2022-03-10)Mar 10, 2022 · RAUM change · derived
- Allied Investment Advisors Llc filed its initial SEC registration (Form ADV)Feb 6, 2014 · 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 phone
- 406-271-2391reportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 406-839-2037reportedpublished by the firm, firm site, Sep 17, 2026
- Firm profile
- linkedin.com/company/allied-investment-advisorsreportedpublic record, Form ADV, Sep 17, 2026
- Website
- ALLIEDINVEST.NETreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 406-839-2037reportedpublic record, Form ADV, Jul 29, 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
- $124Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026