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.
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SEC-registered adviser
E••• P•••••••• L••
Latest filing May 7, 2026
First filing on the tape May 10, 2017 · 27 filings
SEC status approved since Jun 9, 2017
RAUM
$291M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$291M individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$48.5M
derived; firm RAUM over IAPD count
Employees
6
6 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
27 filings and snapshots on the tape
RAUM$291M as of May 7, 2026
Mar 19, 2018$137M then
HNW client RAUM$286M as of May 7, 2026
Mar 19, 2018$134M then
State-registered IARs (5.B.3)6 as of May 7, 2026
Mar 19, 20183 then
Employees (5.A)6 as of May 7, 2026
Mar 19, 20183 then
Private funds: no history
RAUM +1.3% over the last fiscal year+4.7% a year over threeIARs 4 to 6
Practice profile
derived from the filing of May 7, 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
- 16derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.9MderivedHNW RAUM over HNW clients
- Average account
- $914,825derivedRAUM 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
- 6.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +1.3%derivedbetween the last two annual amendments
- Advisor growth, one year
- +50%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +15%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, otherreportedItem 5.G
- Custody
- $113M, 38 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$286M98%
- Individuals$4.9M1.7%
- Individual clients
- 20reported
- HNW clients
- 73reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 318reported
- Financial planning clients
- 26-50reported
- Wrap fee programs
- noreported
- Custody of client assets
- $113M for 38 clientsreported
- Compensation
- % of AUM, fixedreported
- 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
6 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| B•••• J•••••• L•••••Chartered Financial Analyst | Minneapolis, Mn | Jan 21, 2014 | 23 y | 0 |
| D••••• R••••• A••••••Chartered Financial Analyst | Minneapolis, Mn | Jan 21, 2014 | 32 y | 0 |
| B••••••• B•••• F••• | Minneapolis, Mn | Mar 30, 2017 | 10 y | 0 |
| N••• K••• H••••••••Certified Financial Planner | Minneapolis, Mn | May 4, 2022 | 16 y | 0 |
| J•••• M• Q••••Chartered Financial Analyst | Minneapolis, Mn | Jul 29, 2025 | 11 y | 1 |
| B••••••• S•••••• L••••••Chartered Financial Analyst | Minneapolis, Mn | Nov 11, 2025 | 12 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
none on the tape
Joined, latest
- J•••• M• Q•••• from R••••••••• C•••••• M•••••••••Jul 29, 2025 · Affiliated broker-dealer or bank to independent RIA
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- A••••••• D•••••• R••••• · Partner, Ciocontrolsince 09/2012 · owns 25% to 50%
- F•••• B•••••••• B•••• · Partner, Chief Compliance Officer, Coocontrolsince 01/2021 · owns 5% to 10%
- L•••••• B••••• J•••••• · Partner, Ceocontrolsince 09/2012 · owns 25% to 50%
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 |
|---|---|---|---|---|---|
| Minneapolis, Mn · principal | 6 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 290 to 318Oct 14, 2025 to Mar 11, 2026
- Advisory employees · 4 to 6Oct 14, 2025 to Mar 11, 2026
- HNW clients · 61 to 73Oct 14, 2025 to Mar 11, 2026
- Assets in custody · $134M to $113MOct 14, 2025 to Mar 11, 2026
- Employees · 4 to 6Oct 14, 2025 to Mar 11, 2026
- State-registered IARs · 4 to 6Oct 14, 2025 to Mar 11, 2026
- Discretionary RAUM · $287M to $291MOct 14, 2025 to Mar 11, 2026
- HNW RAUM · $280M to $286MOct 14, 2025 to Mar 11, 2026
- Individual RAUM · $6.9M to $4.9MOct 14, 2025 to Mar 11, 2026
- RAUM · $287M to $291MOct 14, 2025 to Mar 11, 2026
- Accounts · 294 to 290Mar 14, 2024 to Feb 14, 2025
- Charity clients · 0.0 to unsetMar 14, 2024 to Feb 14, 2025
- Corporate clients · 1.0 to unsetMar 14, 2024 to Feb 14, 2025
- HNW clients · 60 to 61Mar 14, 2024 to Feb 14, 2025
- Individual clients · 18 to 20Mar 14, 2024 to Feb 14, 2025
- Pension plan clients · 0.0 to unsetMar 14, 2024 to Feb 14, 2025
- Pooled vehicle clients · 0.0 to unsetMar 14, 2024 to Feb 14, 2025
- Assets in custody · $134M to $134MMar 14, 2024 to Feb 14, 2025
- Financial planning clients · 11-25 to 26-50Mar 14, 2024 to Feb 14, 2025
- Discretionary RAUM · $268M to $287MMar 14, 2024 to Feb 14, 2025
- HNW RAUM · $260M to $280MMar 14, 2024 to Feb 14, 2025
- Individual RAUM · $5.6M to $6.9MMar 14, 2024 to Feb 14, 2025
- Pension RAUM · 0.0 to unsetMar 14, 2024 to Feb 14, 2025
- Pooled vehicle RAUM · 0.0 to unsetMar 14, 2024 to Feb 14, 2025
- RAUM · $268M to $287MMar 14, 2024 to Feb 14, 2025
- Accounts · 300 to 294Jan 31, 2023 to Mar 14, 2024
- HNW clients · 67 to 60Jan 31, 2023 to Mar 14, 2024
- Individual clients · 20 to 18Jan 31, 2023 to Mar 14, 2024
- Assets in custody · $78.4M to $134MJan 31, 2023 to Mar 14, 2024
- Discretionary RAUM · $253M to $268MJan 31, 2023 to Mar 14, 2024
- HNW RAUM · $247M to $260MJan 31, 2023 to Mar 14, 2024
- Individual RAUM · $4.4M to $5.6MJan 31, 2023 to Mar 14, 2024
- RAUM · $253M to $268MJan 31, 2023 to Mar 14, 2024
- Accounts · 331 to 300Jan 19, 2023 to Jan 27, 2023
- HNW clients · 53 to 67Jan 19, 2023 to Jan 27, 2023
- Individual clients · 19 to 20Jan 19, 2023 to Jan 27, 2023
- Assets in custody · $60.3M to $78.4MJan 19, 2023 to Jan 27, 2023
- Financial planning clients · 1-10 to 11-25Jan 19, 2023 to Jan 27, 2023
- Discretionary RAUM · $305M to $253MJan 19, 2023 to Jan 27, 2023
- HNW RAUM · $312M to $247MJan 19, 2023 to Jan 27, 2023
Signals
3 dated events
- E••• P•••••••• L•• reported RAUM $409.7M, up 97% from $208.3M (2020-05-21 to 2021-02-22)Feb 22, 2021 · RAUM change · derived
- Bruce Benjamin Frey (Partner, Chief Compliance Officer, Coo) appeared on Schedule A of E••• P•••••••• L••Feb 22, 2021 · Control person joined · fact
- E••• P•••••••• L•• filed its initial SEC registration (Form ADV)May 10, 2017 · 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
- Website
- be-epiq.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- (612) 843-4800reportedpublic record, Form ADV, May 7, 2026
- Team page
- be-epiq.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
- $48.5Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026