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
Zhang Financial
Legal name Zhang Financial LLC
Latest filing Mar 31, 2026
First filing on the tape Dec 16, 2011 · 54 filings
SEC status approved since Jan 12, 2012
RAUM
$8.4B
reported, Item 5.F
Discretionary
67%
of RAUM
Private clients
67%
$5.6B individuals and HNW
Advisors
20
registered through the firm on IAPD
RAUM per advisor
$419M
derived; firm RAUM over IAPD count
Employees
50
19 advisory (5.B.1)
Offices
8
beyond the principal office
Private funds
0
reported on Schedule D
History
54 filings and snapshots on the tape
RAUM$8.4B as of Mar 31, 2026
Mar 27, 2013$601M then
HNW client RAUM$5.2B as of Mar 31, 2026
Mar 10, 2018$946M then
State-registered IARs (5.B.3)19 as of Mar 31, 2026
Mar 27, 20134 then
Employees (5.A)50 as of Mar 31, 2026
Mar 27, 201311 then
Private funds: no history
RAUM +28% over the last fiscal year+23% a year over threeIARs 17 to 19offices 9 to 8
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
Archetypes, each a printed rule
- Planning-led practice · financial planning activity (5.G.1), at least 100 financial planning clients (5.H), and hourly, fixed or subscription compensation (5.E)
- Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
- RAUM per advisor
- $419MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 115derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.8MderivedHNW RAUM over HNW clients
- Average account
- $1.1MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 67%derivedof RAUM
- Institutional
- 32%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.5derivedItem 5.A over advisors
- Advisors per office
- 2.2derived9 offices incl. principal (1.F.5)
- RAUM growth, one year
- +28%derivedbetween the last two annual amendments
- Advisor growth, one year
- +12%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +12%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, educational seminarsreportedItem 5.G
- Financial planning clients
- 2,500reportedItem 5.H
- Wrap fee program
- $5.6BreportedItem 5.I
- Custody
- $1.7B, 948 clientsreportedItem 9.A
- 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)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$5.2B62%
- State and municipal entities$1.9B23%
- Charitable organizations$709M8.5%
- Individuals$452M5.4%
- Pension and profit-sharing plans$69.8M0.8%
- Corporations and businesses$35.0M0.4%
- Individual clients
- 940reported
- HNW clients
- 1,355reported
- Pension plan clients
- 10reported
- Charitable clients
- 8reported
- Accounts
- 7,855reported
- Financial planning clients
- 2,500reported
- Wrap fee programs
- $0 sponsored, $0 managedreported
- Custody of client assets
- $1.7B for 948 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.67 fund_share=0.0 institutional_share=0.32 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
20 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Charles Cheng ZhangCertified Financial Planner, Chartered Financial Consultant | Portage, Mi | Mar 2, 2012 | 35 y | 3 |
| Lynn Ling Chen-ZhangCertified Financial Planner | Portage, Mi | Jan 5, 2015 | 27 y | 2 |
| Christine Marie Lindberg | Portage, Mi | Jan 6, 2015 | 20 y | 2 |
| Kolby Loren SmithCertified Financial Planner | Portage, Mi | Oct 26, 2017 | 15 y | 1 |
| David William MarshallCertified Financial Planner | Portage, Mi | Feb 19, 2018 | 10 y | 0 |
| Yuanlei ZhuChartered Financial Analyst | Portage, Mi | Mar 14, 2019 | 14 y | 0 |
| Levi J HendershottCertified Financial Planner | Portage, Mi | Apr 30, 2019 | 11 y | 1 |
| Giselle Kristine SchlubatisCertified Financial Planner | Portage, Mi | Sep 23, 2020 | 18 y | 1 |
| Amanda Marie Hartman | Portage, Mi | Nov 16, 2020 | 15 y | 1 |
| Cameron Tyler KleinhekselCertified Financial Planner | Portage, Mi | Jul 21, 2021 | 16 y | 2 |
| Kyle James TriemstraCertified Financial Planner | Portage, Mi | Jan 5, 2023 | 11 y | 0 |
| Kyle Joseph MackCertified Financial Planner | Portage, Mi | Mar 8, 2024 | 10 y | 0 |
| Tianxing ZhengChartered Financial Analyst | Portage, Mi | Oct 16, 2024 | 10 y | 0 |
| Robert Scott McdougallChartered Financial Analyst | Portage, Mi | Oct 29, 2024 | 15 y | 0 |
| Alex Chen ZhangCertified Financial Planner, Chartered Financial Analyst | Portage, Mi | Dec 24, 2024 | 10 y | 0 |
| Tyler Anthony SoaresCertified Financial Planner, Chartered Financial Analyst | Portage, Mi | Dec 26, 2024 | 10 y | 0 |
| Preston Blake KoslakiewiczCertified Financial Planner | Portage, Mi | Apr 10, 2025 | 11 y | 0 |
| Skylar Judith BusChartered Financial Consultant | Portage, Mi | Mar 12, 2026 | 15 y | 0 |
| Travis Gerrit VeenhuisCertified Financial Planner | Bloomfield Hills, Mi | Mar 16, 2026 | 11 y | 1 |
| Jack Thomas OmbryCertified Financial Planner | Portage, Mi | Apr 24, 2026 | 11 y | 0 |
Advisor movement
3 left, 1 joined in 12 months
net -2 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 15% of current headcount4 left over 36 months
Left, latest
- Brandon Caleb Mull to SavvyJan 29, 2026 · RIA to RIA
- Joshua Leonard Walther to Straight Path Wealth ManagementJan 3, 2026 · RIA to RIA
- Noah Wolthuis to On Point CrnaJan 3, 2026 · RIA to a state-registered adviser
- Jerry He to Kestra Advisory Services, LLCMay 3, 2024 · RIA to affiliated broker-dealer or bank
- Jeremiah Ludington to Mainstay Capital Management, LLCApr 30, 2019 · RIA to RIA
- Christopher James Tarkowski to Curi Capital, LLCJan 28, 2019 · RIA to RIA
- Daniel Curtis Haines to Summitview AdvisorsJan 23, 2019 · RIA to a state-registered adviser
- James Joseph Walsh to Advance Capital Management IncNov 29, 2017 · Other
- Jessica Lynn Rossana to Creative PlanningOct 10, 2017 · Other
Joined, latest
- Travis Gerrit Veenhuis from Sgh Wealth ManagementMar 16, 2026 · RIA to RIA
- Noah Wolthuis from Prairieview Partners, LLCJul 23, 2025 · RIA to RIA
- Jerry He from Florida Financial Advisors, LLCFeb 11, 2022 · Affiliated broker-dealer or bank to independent RIA
- Brandon Caleb Mull from Morgan StanleySep 7, 2021 · Wirehouse to independent RIA
- Cameron Tyler Kleinheksel from CaptrustJul 21, 2021 · Other
- Amanda Marie Hartman from LPL Financial LLCNov 16, 2020 · Other
- Giselle Kristine Schlubatis from Ameriprise Financial Services, LLCSep 23, 2020 · Affiliated broker-dealer or bank to independent RIA
- Levi J Hendershott from Merrill Lynch, Pierce, Fenner & Smith IncorporatedApr 30, 2019 · Wirehouse to independent RIA
- Kolby Loren Smith from Plante Moran Financial AdvisorsOct 26, 2017 · Other
- Jeremiah Ludington from Merrill Lynch, Pierce, Fenner & Smith IncorporatedMay 18, 2015 · Other
- Christine Marie Lindberg from LPL Financial LLCMar 28, 2013 · Other
- James Joseph Walsh from LPL Financial LLCMar 5, 2012 · Other
- Charles Cheng Zhang from LPL Financial LLCMar 2, 2012 · Other
- Jessica Lynn Rossana from LPL Financial LLCMar 2, 2012 · Other
- Lynn Ling Chen-Zhang from LPL Financial LLCMar 2, 2012 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Ling Lynn Chen-Zhang · Ceocontrolsince 12/2011 · owns less than 5%
- Cheng Charles Zhang · Founder And Presidentcontrolsince 12/2011 · owns 50% to 75%
- Thompson Christopher Reiff · Chief Compliance Officersince 01/2026 · owns less than 5%
- Chen Alex Zhang · Ownersince 05/2024 · owns 10% to 25%
- C Mitchell Zhang · Ownersince 05/2024 · owns 5% to 10%
Related persons
Schedule D 7.A
- Lynn Chen-Zhang, Cpa, Plcinsurancen
- Merion Capital LLCinvestment advisern
Advisers that list Zhang Financial as a related person
- 135897 n
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Portage, Mi · principal | 19 | 2 | 3 |
Offices
Schedule D 1.F, the 25 largest
- Ada, MI2 employees
- Ann Arbor, MI1 employees
- Battle Creek, MI1 employees
- Naples, FL1 employees
- Okemos, MI1 employees
- Traverse City, MI1 employees
- Troy, MI1 employees
What changed
consecutive filings, newest first
- Accounts · 7,270 to 7,855Jan 12, 2026 to Mar 31, 2026
- Advisory employees · 20 to 19Jan 12, 2026 to Mar 31, 2026
- Corporate clients · 12 to 13Jan 12, 2026 to Mar 31, 2026
- HNW clients · 1,209 to 1,355Jan 12, 2026 to Mar 31, 2026
- Individual clients · 938 to 940Jan 12, 2026 to Mar 31, 2026
- Assets in custody · $1.5B to $1.7BJan 12, 2026 to Mar 31, 2026
- State-registered IARs · 20 to 19Jan 12, 2026 to Mar 31, 2026
- Discretionary RAUM · $4.8B to $5.6BJan 12, 2026 to Mar 31, 2026
- HNW RAUM · $4.3B to $5.2BJan 12, 2026 to Mar 31, 2026
- Individual RAUM · $447M to $452MJan 12, 2026 to Mar 31, 2026
- Non-discretionary RAUM · $2.4B to $2.8BJan 12, 2026 to Mar 31, 2026
- Pension RAUM · $59.8M to $69.8MJan 12, 2026 to Mar 31, 2026
- RAUM · $7.2B to $8.4BJan 12, 2026 to Mar 31, 2026
- Other offices · 9 to 8Sep 25, 2025 to Jan 12, 2026
- Accounts · 6,876 to 7,270Mar 7, 2025 to Aug 22, 2025
- Advisory employees · 17 to 20Mar 7, 2025 to Aug 22, 2025
- Corporate clients · 10 to 12Mar 7, 2025 to Aug 22, 2025
- HNW clients · 1,109 to 1,209Mar 7, 2025 to Aug 22, 2025
- Individual clients · 934 to 938Mar 7, 2025 to Aug 22, 2025
- Pension plan clients · 11 to 10Mar 7, 2025 to Aug 22, 2025
- Assets in custody · $1.5B to $1.5BMar 7, 2025 to Aug 22, 2025
- Employees · 48 to 50Mar 7, 2025 to Aug 22, 2025
- State-registered IARs · 17 to 20Mar 7, 2025 to Aug 22, 2025
- Discretionary RAUM · $4.3B to $4.8BMar 7, 2025 to Aug 22, 2025
- HNW RAUM · $3.9B to $4.3BMar 7, 2025 to Aug 22, 2025
- Individual RAUM · $444M to $447MMar 7, 2025 to Aug 22, 2025
- Non-discretionary RAUM · $2.3B to $2.4BMar 7, 2025 to Aug 22, 2025
- Pension RAUM · $55.6M to $59.8MMar 7, 2025 to Aug 22, 2025
- RAUM · $6.5B to $7.2BMar 7, 2025 to Aug 22, 2025
- Accounts · 6,475 to 6,876Oct 7, 2024 to Mar 7, 2025
- Advisory employees · 16 to 17Oct 7, 2024 to Mar 7, 2025
- Charity clients · 3 to 8Oct 7, 2024 to Mar 7, 2025
- Corporate clients · unset to 10.0Oct 7, 2024 to Mar 7, 2025
- HNW clients · 1,029 to 1,109Oct 7, 2024 to Mar 7, 2025
- Individual clients · 948 to 934Oct 7, 2024 to Mar 7, 2025
- Pension plan clients · 9 to 11Oct 7, 2024 to Mar 7, 2025
- Assets in custody · $1.2B to $1.5BOct 7, 2024 to Mar 7, 2025
- Employees · 40 to 48Oct 7, 2024 to Mar 7, 2025
- Financial planning clients · More than 500 to More than 500Oct 7, 2024 to Mar 7, 2025
- State-registered IARs · 16 to 17Oct 7, 2024 to Mar 7, 2025
Signals
4 dated events
- Brandon Caleb Mull left Zhang Financial for Savvy (registered 2026-02-10)Jan 29, 2026 · Advisor changed firm · fact
- Joshua Leonard Walther left Zhang Financial for Straight Path Wealth Management (registered 2026-02-02)Jan 3, 2026 · Advisor changed firm · fact
- Noah Wolthuis left Zhang Financial for On Point Crna (registered 2026-01-08)Jan 3, 2026 · Advisor changed firm · fact
- Jerry He left Zhang Financial for Kestra Advisory Services, Llc (registered 2024-05-06)May 3, 2024 · 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
- Business email
- clientservice@zhangfinancial.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 231-943-6988reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 239-325-1826reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 248-846-8889reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/zhang-financialreportedpublic record, Form ADV, Sep 17, 2026
- Website
- ZHANGFINANCIAL.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 269-385-5888reportedpublic record, Form ADV, Mar 31, 2026
- Contact form
- zhangfinancial.com/contact-usreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- zhangfinancial.com/teamreportedpublished by the firm, firm site, Sep 15, 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
- $419Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026