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
Formidable Asset Management, LLC
Latest filing Aug 14, 2026
First filing on the tape Apr 12, 2013 · 37 filings
SEC status approved since Apr 22, 2013
RAUM
$903M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
95%
$856M individuals and HNW
Advisors
15
registered through the firm on IAPD
RAUM per advisor
$60.2M
derived; firm RAUM over IAPD count
Employees
21
14 advisory (5.B.1)
Offices
3
beyond the principal office
Private funds
1
reported on Schedule D
History
37 filings and snapshots on the tape
RAUM$903M as of Aug 14, 2026
Mar 28, 2014$225M then
HNW client RAUM$626M as of Aug 14, 2026
Feb 7, 2018$294M then
State-registered IARs (5.B.3)14 as of Aug 14, 2026
Mar 28, 20143 then
Employees (5.A)21 as of Aug 14, 2026
Mar 28, 20146 then
Private funds1 as of Aug 14, 2026
Mar 24, 20151 then
RAUM +3.1% over the last fiscal year+13% a year over threeIARs 14 to 14
Practice profile
derived from the filing of Aug 14, 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
- RIA with private funds · a wealth manager (private-client share at least 50 percent) that reports at least one private fund on Schedule D 7.B.(1)
- RAUM per advisor
- $60.2MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 58derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.1MderivedHNW RAUM over HNW clients
- Average account
- $411,219derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.3%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.4derivedItem 5.A over advisors
- Advisors per office
- 3.8derived4 offices incl. principal (1.F.5)
- RAUM growth, one year
- +3.1%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +2.5%derived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for pooled vehicles, portfolio management for investment companies, pension consultingreportedItem 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
- is an insurance broker or agent (6.A.6)
- 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)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$626M69%
- Individuals$230M26%
- Investment companies$39.8M4.4%
- Corporations and businesses$2.1M0.2%
- Charitable organizations$1.8M0.2%
- Pooled investment vehicles$1.8M0.2%
- Pension and profit-sharing plans$986,4840.1%
- Individual clients
- 674reported
- HNW clients
- 203reported
- Pension plan clients
- 5reported
- Charitable clients
- 5reported
- Accounts
- 2,196reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.95 fund_share=0.05 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
15 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| William Bush Brown | Cincinnati, Oh | Jun 25, 2013 | 32 y | 3 |
| Henry Platt Brightwell | Cincinnati, Oh | Jun 14, 2016 | 31 y | 2 |
| David Brian HenningCertified Financial Planner | Cincinnati, Oh | Apr 21, 2017 | 29 y | 1 |
| James David Gaunt | Cincinnati, Oh | Apr 21, 2017 | 21 y | 3 |
| Benjamin Adam SiefringCertified Financial Planner, Chartered Financial Consultant | Cincinnati, Oh | May 4, 2017 | 14 y | 2 |
| Timothy M BegleyCertified Financial Planner | Cincinnati, Oh | Jun 25, 2018 | 18 y | 1 |
| Adam Thomas EaglestonChartered Financial Analyst | Cincinnati, Oh | Jan 24, 2020 | 25 y | 3 |
| Terri Lynn Connelly | Cincinnati, Oh | Feb 28, 2020 | 18 y | 1 |
| Tracy Lynn Germano | Cincinnati, Oh | Oct 7, 2022 | 17 y | 2 |
| Krysten Marie Taylor | Cincinnati, Oh | Jun 21, 2023 | 13 y | 0 |
| Andrew Enzo Allwein | Cincinnati, Oh | Jan 2, 2024 | 13 y | 0 |
| David Christopher NanneyPersonal Financial Specialist | Memphis, Tn | Aug 21, 2024 | 18 y | 0 |
| Arielle Suzanne Torbeck | Cincinnati, Oh | Sep 10, 2024 | 10 y | 1 |
| William Edward Romans | Vero Beach, Fl | Apr 15, 2026 | 27 y | 3 |
| Michael Paul Massey | Vero Beach, Fl | May 26, 2026 | 28 y | 3 |
Advisor movement
0 left, 2 joined in 12 months
net +2 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- Michael Carl Muth to Qcfo, LLCSep 4, 2018 · RIA to a state-registered adviser
- Dennis Monohan to Halo Investing, Inc.Dec 19, 2017 · Other
- Michael Lawrence Hinson to Sequoia Financial Group, L.L.C.Apr 6, 2017 · Other
- Michael Puttmann to Esi Financial AdvisorsJul 14, 2015 · Other
- John Howard Kopeck to Ameriprise Financial Services, LLCJul 2, 2013 · Other
Joined, latest
- Michael Paul Massey from Brm Investment Management LLCMay 26, 2026 · RIA to RIA
- William Edward Romans from Brm Investment Management LLCApr 15, 2026 · RIA to RIA
- Arielle Suzanne Torbeck from Fidelity Personal And Workplace AdvisorsSep 10, 2024 · Affiliated broker-dealer or bank to independent RIA
- Tracy Lynn Germano from Raymond James & Associates, Inc.Oct 7, 2022 · Affiliated broker-dealer or bank to independent RIA
- Terri Lynn Connelly from Ameriprise Financial Services, LLCFeb 28, 2020 · Affiliated broker-dealer or bank to independent RIA
- Adam Thomas Eagleston from Opus Capital ManagementJan 24, 2020 · RIA to RIA
- Timothy M Begley from Strategic Advisers LLCJun 25, 2018 · Affiliated broker-dealer or bank to independent RIA
- Benjamin Adam Siefring from MML Investors Services, LLCMay 4, 2017 · Other
- James David Gaunt from MML Investors Services, LLCApr 21, 2017 · Other
- David Brian Henning from The Retirement Corporation Of AmericaApr 21, 2017 · Other
- Michael Lawrence Hinson from Mercer Global Advisors Inc.Dec 9, 2016 · Other
- Henry Platt Brightwell from Stifel, Nicolaus & Company, IncorporatedJun 14, 2016 · Other
- John Howard Kopeck from Raymond James & Associates, Inc.Jun 25, 2013 · Other
- William Bush Brown from Raymond James & Associates, Inc.Jun 25, 2013 · Affiliated broker-dealer or bank to a newly registered adviser
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Brm Investment Management LLCMar 18, 2024 · Vero Beach, Fl
Private funds
1 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| The Formidable Fund, LP | Hedge Fund | $14.5M | 58 | Oct 22, 2014 |
Owners and control persons
Schedule A and B, latest filing
- Bush William Brown · Managing Member/Chief Executive Officercontrolsince 03/2013 · owns 50% to 75%
- Philip Jason Wainscott · Cco, Coo And General Counselcontrolsince 02/2019 · owns less than 5%
Related persons
Schedule D 7.A
- Formidable Capital Management, LLCpooled vehicle sponsory
- Formidable Financial Servicesreal estatey
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Cincinnati, Oh · principal | 12 | 0 | 0 | ||
| Vero Beach, Fl | 3 | 2 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Vero Beach, FL3 employees
- Memphis, TN1 employees
- , 1 employees
What changed
consecutive filings, newest first
- Accounts · 2,188 to 2,196Mar 26, 2025 to Mar 31, 2026
- Corporate clients · 4 to 10Mar 26, 2025 to Mar 31, 2026
- HNW clients · 189 to 203Mar 26, 2025 to Mar 31, 2026
- Individual clients · 667 to 674Mar 26, 2025 to Mar 31, 2026
- Pension plan clients · 3 to 5Mar 26, 2025 to Mar 31, 2026
- Assets in custody · 15228917.0 to unsetMar 26, 2025 to Mar 31, 2026
- Employees · 20 to 21Mar 26, 2025 to Mar 31, 2026
- Discretionary RAUM · $870M to $902MMar 26, 2025 to Mar 31, 2026
- HNW RAUM · $614M to $626MMar 26, 2025 to Mar 31, 2026
- Individual RAUM · $207M to $230MMar 26, 2025 to Mar 31, 2026
- Non-discretionary RAUM · $6.2M to $731,378Mar 26, 2025 to Mar 31, 2026
- Pension RAUM · $1.2M to $986,484Mar 26, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $1.2M to $1.8MMar 26, 2025 to Mar 31, 2026
- RAUM · $876M to $903MMar 26, 2025 to Mar 31, 2026
- Accounts · 1,064 to 2,188Aug 21, 2024 to Mar 26, 2025
- Advisory employees · 12 to 14Aug 21, 2024 to Mar 26, 2025
- Corporate clients · 3 to 4Aug 21, 2024 to Mar 26, 2025
- HNW clients · 244 to 189Aug 21, 2024 to Mar 26, 2025
- Individual clients · 714 to 667Aug 21, 2024 to Mar 26, 2025
- Pension plan clients · 10 to 3Aug 21, 2024 to Mar 26, 2025
- Assets in custody · $11.9M to $15.2MAug 21, 2024 to Mar 26, 2025
- Financial planning clients · 1-10 to 1-10Aug 21, 2024 to Mar 26, 2025
- State-registered IARs · 12 to 14Aug 21, 2024 to Mar 26, 2025
- Discretionary RAUM · $852M to $870MAug 21, 2024 to Mar 26, 2025
- HNW RAUM · $201M to $614MAug 21, 2024 to Mar 26, 2025
- Individual RAUM · $609M to $207MAug 21, 2024 to Mar 26, 2025
- Non-discretionary RAUM · $35.1M to $6.2MAug 21, 2024 to Mar 26, 2025
- Pension RAUM · $2.3M to $1.2MAug 21, 2024 to Mar 26, 2025
- Pooled vehicle RAUM · $17.5M to $1.2MAug 21, 2024 to Mar 26, 2025
- RAUM · $887M to $876MAug 21, 2024 to Mar 26, 2025
- Other offices · 2 to 3Aug 20, 2024 to Aug 21, 2024
- Accounts · 1,778 to 1,064Sep 25, 2023 to Mar 11, 2024
- Advisory employees · 8 to 12Sep 25, 2023 to Mar 11, 2024
- Charity clients · 2 to 5Sep 25, 2023 to Mar 11, 2024
- Corporate clients · unset to 3.0Sep 25, 2023 to Mar 11, 2024
- HNW clients · 175 to 244Sep 25, 2023 to Mar 11, 2024
- Individual clients · 616 to 714Sep 25, 2023 to Mar 11, 2024
- Pension plan clients · 3 to 10Sep 25, 2023 to Mar 11, 2024
- Assets in custody · $0 to $11.9MSep 25, 2023 to Mar 11, 2024
- Employees · 15 to 20Sep 25, 2023 to Mar 11, 2024
Signals
6 dated events
- 2 advisors left Brm Investment Management LLC (Vero Beach, FL) for Formidable Asset Management, LLC on the same dayMar 18, 2024 · Team lift-out · derived
- Formidable Asset Management, Llc reported RAUM $886.8M, up 40% from $632.0M (2023-09-25 to 2024-03-11)Mar 11, 2024 · RAUM change · derived
- Formidable Asset Management, Llc reported RAUM $618.8M, up 32% from $467.7M (2020-06-22 to 2021-03-26)Mar 26, 2021 · RAUM change · derived
- Mcburney Benjamin Blemker (Member) no longer on Schedule A of Formidable Asset Management, Llc (listed 2019-03-29, absent 2019-06-11)Jun 11, 2019 · Control person left · inference
- Philip Jason Wainscott (Cco, Coo And General Counsel) appeared on Schedule A of Formidable Asset Management, LlcMar 29, 2019 · Control person joined · fact
- Bbk Capital Partners, Llc filed its initial SEC registration (Form ADV)Apr 12, 2013 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- Formidable Asset Management, LLC · Private Equityshared crd · intermediary
How to reach
public business contact points only, each with its source
- Business email
- info@masseyromanscapital.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 772-925-8860reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/formidable-asset-managementreportedpublic record, Form ADV, Sep 17, 2026
- Firm profile
- linkedin.com/company/masseyromansreportedpublic record, Form ADV, Sep 17, 2026
- Website
- masseyromanscapital.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 513-655-5566reportedpublic record, Form ADV, Aug 14, 2026
- Contact form
- masseyromanscapital.com/contact-usreportedpublished 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
- $60.2Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026