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
Somerset Group LLC
Latest filing Mar 19, 2026
First filing on the tape Jan 4, 2012 · 25 filings
SEC status approved since Jan 17, 2012
RAUM
$146M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$146M individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$48.5M
derived; firm RAUM over IAPD count
Employees
3
2 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
25 filings and snapshots on the tape
RAUM$146M as of Mar 19, 2026
Mar 28, 2013$237M then
HNW client RAUM$138M as of Mar 19, 2026
Mar 21, 2018$130M then
State-registered IARs (5.B.3)3 as of Mar 19, 2026
Mar 28, 20130 then
Employees (5.A)3 as of Mar 19, 2026
Mar 28, 20134 then
Private funds: no history
RAUM +7.8% over the last fiscal year+1.0% a year over threeIARs 3 to 3
Practice profile
derived from the filing of Mar 19, 2026; every figure names its basis
Archetypes, each a printed rule
- 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
- RAUM per advisor
- $48.5MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 19derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $5.8MderivedHNW RAUM over HNW clients
- Average account
- $904,508derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 1.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +7.8%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +7.4%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individualsreportedItem 5.G
- Custody
- $130M, 45 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)
- 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)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$138M95%
- Individuals$7.5M5.2%
- Individual clients
- 34reported
- HNW clients
- 24reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 161reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- $130M for 45 clientsreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Arlene Jane Kielley | Wayzata, Mn | Jan 23, 2014 | 15 y | 0 |
| Julie Renee Toelle | Boca Grande, Fl | Jan 23, 2014 | 15 y | 0 |
| Cynthia Anne Hansen | Wayzata, Mn | Aug 3, 2020 | 6 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- Ryan Michael Peckskamp to Modus Advisors, LLCDec 13, 2019 · RIA to RIA
- Abbey Marlana Spoo to Allodium Investment Consultants, LLCDec 4, 2015 · Other
Joined, latest
none on the tape
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Jane Arlene Kielley · Member, President And Chief Compliance Officer, Portfolio Managercontrolsince 12/2011 · owns 25% to 50%
- Renee Julie Toelle · Member, Treasurer, Operations Managersince 12/2011 · 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 |
|---|---|---|---|---|---|
| Wayzata, Mn · principal | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- , 2 employees
What changed
consecutive filings, newest first
- HNW clients · 26 to 24Mar 14, 2025 to Mar 19, 2026
- Individual clients · 28 to 34Mar 14, 2025 to Mar 19, 2026
- Assets in custody · $103M to $130MMar 14, 2025 to Mar 19, 2026
- Discretionary RAUM · $135M to $146MMar 14, 2025 to Mar 19, 2026
- HNW RAUM · $128M to $138MMar 14, 2025 to Mar 19, 2026
- Individual RAUM · $6.9M to $7.5MMar 14, 2025 to Mar 19, 2026
- RAUM · $135M to $146MMar 14, 2025 to Mar 19, 2026
- Financial planning clients · 1-10 to 1-10Feb 24, 2025 to Mar 14, 2025
- Accounts · 168 to 161Mar 19, 2024 to Feb 24, 2025
- HNW clients · 21 to 26Mar 19, 2024 to Feb 24, 2025
- Individual clients · 36 to 28Mar 19, 2024 to Feb 24, 2025
- Assets in custody · $103M to $103MMar 19, 2024 to Feb 24, 2025
- Discretionary RAUM · $146M to $135MMar 19, 2024 to Feb 24, 2025
- HNW RAUM · $136M to $128MMar 19, 2024 to Feb 24, 2025
- Individual RAUM · $9.8M to $6.9MMar 19, 2024 to Feb 24, 2025
- Non-discretionary RAUM · $17,345 to $0Mar 19, 2024 to Feb 24, 2025
- RAUM · $146M to $135MMar 19, 2024 to Feb 24, 2025
- Accounts · 174 to 168Apr 20, 2023 to Mar 19, 2024
- Advisory employees · 3 to 2Apr 20, 2023 to Mar 19, 2024
- Individual clients · 38 to 36Apr 20, 2023 to Mar 19, 2024
- Assets in custody · $101M to $103MApr 20, 2023 to Mar 19, 2024
- Employees · 4 to 3Apr 20, 2023 to Mar 19, 2024
- State-registered IARs · 4 to 3Apr 20, 2023 to Mar 19, 2024
- Discretionary RAUM · $141M to $146MApr 20, 2023 to Mar 19, 2024
- HNW RAUM · $131M to $136MApr 20, 2023 to Mar 19, 2024
- Individual RAUM · $10.6M to $9.8MApr 20, 2023 to Mar 19, 2024
- Non-discretionary RAUM · $16,922 to $17,345Apr 20, 2023 to Mar 19, 2024
- RAUM · $141M to $146MApr 20, 2023 to Mar 19, 2024
- Assets in custody · unset to 100989761.0Mar 16, 2023 to Apr 20, 2023
- Custody of client assets · false to trueMar 16, 2023 to Apr 20, 2023
- Accounts · 54 to 174Mar 17, 2022 to Mar 16, 2023
- HNW clients · 23 to 21Mar 17, 2022 to Mar 16, 2023
- Individual clients · 31 to 38Mar 17, 2022 to Mar 16, 2023
- Discretionary RAUM · $175M to $141MMar 17, 2022 to Mar 16, 2023
- HNW RAUM · $165M to $131MMar 17, 2022 to Mar 16, 2023
- Individual RAUM · $9.3M to $10.6MMar 17, 2022 to Mar 16, 2023
- Non-discretionary RAUM · $19,827 to $16,922Mar 17, 2022 to Mar 16, 2023
- RAUM · $175M to $141MMar 17, 2022 to Mar 16, 2023
- Accounts · 56 to 54Mar 8, 2021 to Mar 17, 2022
- HNW clients · 22 to 23Mar 8, 2021 to Mar 17, 2022
Signals
1 dated events
- Moylan John Murphy (Member, Chief Executive Officer, Portfolio Manager) no longer on Schedule A of Somerset Group Llc (listed 2023-04-20, absent 2024-03-19)Mar 19, 2024 · Control person left · inference
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
- info@somerset-group.comreportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 941-964-2434reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 952-681-7254reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- SOMERSET-GROUP.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 952-681-7254reportedpublic record, Form ADV, Mar 19, 2026
- Contact form
- somerset-group.com/contactreportedpublished by the firm, firm site, Sep 16, 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
- $48.5Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026