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
Highmark Wealth Management LLC
Latest filing Apr 28, 2026
First filing on the tape Jul 2, 2012 · 37 filings
SEC status approved since Jul 25, 2012
RAUM
$612M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$612M individuals and HNW
Advisors
5
registered through the firm on IAPD
RAUM per advisor
$122M
derived; firm RAUM over IAPD count
Employees
5
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
37 filings and snapshots on the tape
RAUM$612M as of Apr 28, 2026
Mar 22, 2013$244M then
HNW client RAUM$552M as of Apr 28, 2026
Mar 29, 2018$160M then
State-registered IARs (5.B.3)4 as of Apr 28, 2026
Mar 22, 20133 then
Employees (5.A)5 as of Apr 28, 2026
Mar 22, 20136 then
Private funds: no history
RAUM +17% over the last fiscal year+15% a year over threeIARs 5 to 4
Practice profile
derived from the filing of Apr 28, 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
- Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
- RAUM per advisor
- $122MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 86derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.2MderivedHNW RAUM over HNW clients
- Average account
- $364,308derivedRAUM 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
- 5.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +17%derivedbetween the last two annual amendments
- Advisor growth, one year
- -20%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +24%derived
- Compensation
- percentage of assets, hourly, fixed fees, otherreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, pension consulting, selection of other advisersreportedItem 5.G
- Wrap fee program
- $612MreportedItem 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$552M90%
- Individuals$60.1M9.8%
- Individual clients
- 258reported
- HNW clients
- 171reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 1,679reported
- Financial planning clients
- 101-250reported
- Wrap fee programs
- $0 sponsored, $0 managedreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=3.0derived
Advisors registered through the firm
5 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Todd Edward Arens | St. Paul, Mn | Jul 25, 2012 | 32 y | 1 |
| Jerod Gustafson | St. Paul, Mn | Sep 12, 2014 | 30 y | 1 |
| Patrick J. SullivanCertified Financial Planner | St. Paul, Mn | Nov 13, 2014 | 14 y | 0 |
| Daniel R SullivanCertified Financial Planner | St. Paul, Mn | Oct 1, 2018 | 12 y | 0 |
| Emmett Karl Gustafson | St. Paul, Mn | Aug 19, 2026 | 10 y | 0 |
Advisor movement
1 left, 0 joined in 12 months
net -1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 20% of current headcount1 left over 36 months
Left, latest
- Deborah Frances Peterson to UBS Financial Services Inc.Nov 24, 2025 · RIA to wirehouse
- Kurt Steven Altrichter to Boyum Wealth Architects LLCJul 9, 2019 · RIA to RIA
Joined, latest
- Jerod Gustafson from UBS Financial Services Inc.Sep 12, 2014 · Other
- Deborah Frances Peterson from UBS Financial Services Inc.Dec 4, 2012 · Other
- Todd Edward Arens from UBS Financial Services Inc.Jul 25, 2012 · Wirehouse to a newly registered adviser (no RAUM reported yet)
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Edward Todd Arens · Managing Member And Chief Compliance Officercontrolsince 07/2012 · owns 75% or more
- J. Patrick Sullivan · Wealth Strategist And Partnersince 01/2016 · 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 |
|---|---|---|---|---|---|
| St Paul, Mn | 5 | 1 | 1 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 1,560 to 1,679Oct 21, 2025 to Mar 31, 2026
- BD registered reps · 4 to 3Oct 21, 2025 to Mar 31, 2026
- HNW clients · 153 to 171Oct 21, 2025 to Mar 31, 2026
- Individual clients · 193 to 258Oct 21, 2025 to Mar 31, 2026
- Employees · 6 to 5Oct 21, 2025 to Mar 31, 2026
- State-registered IARs · 5 to 4Oct 21, 2025 to Mar 31, 2026
- Discretionary RAUM · $523M to $612MOct 21, 2025 to Mar 31, 2026
- HNW RAUM · $460M to $552MOct 21, 2025 to Mar 31, 2026
- Individual RAUM · $63.2M to $60.1MOct 21, 2025 to Mar 31, 2026
- RAUM · $523M to $612MOct 21, 2025 to Mar 31, 2026
- Accounts · 1,479 to 1,560Oct 2, 2024 to Apr 1, 2025
- HNW clients · 147 to 153Oct 2, 2024 to Apr 1, 2025
- Individual clients · 183 to 193Oct 2, 2024 to Apr 1, 2025
- Financial planning clients · 101-250 to 101-250Oct 2, 2024 to Apr 1, 2025
- Discretionary RAUM · $484M to $523MOct 2, 2024 to Apr 1, 2025
- HNW RAUM · $437M to $460MOct 2, 2024 to Apr 1, 2025
- Individual RAUM · $46.6M to $63.2MOct 2, 2024 to Apr 1, 2025
- RAUM · $484M to $523MOct 2, 2024 to Apr 1, 2025
- Accounts · 1,375 to 1,479Jan 10, 2024 to Mar 28, 2024
- HNW clients · 145 to 147Jan 10, 2024 to Mar 28, 2024
- Individual clients · 194 to 183Jan 10, 2024 to Mar 28, 2024
- Discretionary RAUM · $399M to $484MJan 10, 2024 to Mar 28, 2024
- HNW RAUM · $356M to $437MJan 10, 2024 to Mar 28, 2024
- Individual RAUM · $42.8M to $46.6MJan 10, 2024 to Mar 28, 2024
- RAUM · $399M to $484MJan 10, 2024 to Mar 28, 2024
- Accounts · 1,380 to 1,375Nov 29, 2022 to Mar 31, 2023
- HNW clients · 114 to 145Nov 29, 2022 to Mar 31, 2023
- Individual clients · 217 to 194Nov 29, 2022 to Mar 31, 2023
- Discretionary RAUM · $422M to $399MNov 29, 2022 to Mar 31, 2023
- HNW RAUM · $369M to $356MNov 29, 2022 to Mar 31, 2023
- Individual RAUM · $53.2M to $42.8MNov 29, 2022 to Mar 31, 2023
- RAUM · $422M to $399MNov 29, 2022 to Mar 31, 2023
- Accounts · 1,256 to 1,380Mar 26, 2021 to Mar 30, 2022
- HNW clients · 98 to 114Mar 26, 2021 to Mar 30, 2022
- Individual clients · 223 to 217Mar 26, 2021 to Mar 30, 2022
- Pension plan clients · 10.0 to unsetMar 26, 2021 to Mar 30, 2022
- Discretionary RAUM · $392M to $422MMar 26, 2021 to Mar 30, 2022
- HNW RAUM · $316M to $369MMar 26, 2021 to Mar 30, 2022
- Individual RAUM · $67.8M to $53.2MMar 26, 2021 to Mar 30, 2022
- Pension RAUM · 8394851.0 to unsetMar 26, 2021 to Mar 30, 2022
Signals
2 dated events
- Deborah Frances Peterson left Highmark Wealth Management Llc for Ubs Financial Services Inc. (registered 2025-12-17)Nov 24, 2025 · Advisor changed firm · fact
- Highmark Wealth Management Llc filed its initial SEC registration (Form ADV)Jul 2, 2012 · 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 email
- info@highmarkwealth.comreportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 651-829-3300reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 651-829-3301reportedpublished by the firm, firm site, Sep 16, 2026
- Firm profile
- linkedin.com/company/highmark-wealth-managementreportedpublic record, Form ADV, Sep 18, 2026
- Website
- HIGHMARKWEALTH.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 651-829-3300reportedpublic record, Form ADV, Apr 28, 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
- $122Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026