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.

Former SEC-registered adviser

Trutoro

Former SEC-registered adviserConway, ArkansasCRD 169291SEC 801-120986websiteIAPD
Legal name Veritas Independent Partners, LLC
Latest filing Mar 31, 2026
First filing on the tape Mar 29, 2021 · 20 filings
SEC status approved since Apr 28, 2021
RAUM
$142M
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
97%
$137M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
9
8 advisory (5.B.1)
Offices
3
beyond the principal office
Private funds
0
reported on Schedule D
History
20 filings and snapshots on the tape
RAUM$142M as of Mar 31, 2026
Feb 9, 2022$133M then
HNW client RAUM$66.2M as of Mar 31, 2026
Feb 9, 2022$37.7M then
State-registered IARs (5.B.3)8 as of Mar 31, 2026
Feb 9, 202216 then
Employees (5.A)9 as of Mar 31, 2026
Feb 9, 202217 then
Private funds: no history
RAUM +8.6% over the last fiscal year+0.8% a year over threeIARs 13 to 8offices 8 to 3
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
RAUM per advisor
$17.7MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
120derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.7MderivedHNW RAUM over HNW clients
Average account
$99,418derivedRAUM over accounts (5.F.2.f)
Discretionary
99%derivedof RAUM
Institutional
3.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.1derivedItem 5.A over advisors
Advisors per office
2.0derived4 offices incl. principal (1.F.5)
RAUM growth, one year
+8.6%derivedbetween the last two annual amendments
Advisor growth, one year
-38%derivedItem 5.B.3 between annual amendments
Client growth, one year
+20%derived
Compensation
percentage of assets, hourlyreportedItem 5.E
Advisory activities
financial planning, portfolio management for individualsreportedItem 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 a broker-dealer (6.A.1)
  • 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$71.0M50%
  • High-net-worth individuals$66.2M47%
  • Pension and profit-sharing plans$4.4M3.1%
  • Corporations and businesses$165,5500.1%
  • Charitable organizations$164,5700.1%
  • State and municipal entities$10,7720.0%
Individual clients
922reported
HNW clients
38reported
Pension plan clients
11reported
Charitable clients
1reported
Accounts
1,428reported
Financial planning clients
11-25reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, hourlyreported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
11 left, 0 joined in 12 months
net -11 in 12 months0 left in 90 days0 joined in 90 days14 left over 36 months
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • Rebecca Gail Murdoch · Managing Member/Repcontrol
      since 09/2013 · owns 50% to 75%
    • Debra Dawn Shannon · Managing Member/ Cco-Bd Cco-Riacontrol
      since 09/2013 · owns 50% to 75%
    • Katherine Alice Anderson · Financial Operations Principal
      since 08/2014 · owns less than 5%
    Related persons
    Schedule D 7.A
    No related person reported.
    Advisers that list Trutoro as a related person
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Conway, Ar · principal0071
    Hot Springs, Ar001
    Little Rock, Ar001
    Cabot, Ar0011
    Jacksonville, Ar001
    Offices
    Schedule D 1.F, the 25 largest
    • Conway, AR5 employees
    • Harrison, AR2 employees
    • Russellville, AR2 employees
    • Little Rock, AR1 employees
    • Hot Springs, AR1 employees
    • Cabot, AR1 employees
    • Little Rock, AR1 employees
    • Darby, MT1 employees
    • , 1 employees
    What changed
    consecutive filings, newest first
    • Accounts · 1,172 to 1,428
      May 7, 2025 to Mar 31, 2026
    • Advisory employees · 14 to 8
      May 7, 2025 to Mar 31, 2026
    • BD registered reps · 19 to 7
      May 7, 2025 to Mar 31, 2026
    • Corporate clients · 7 to 14
      May 7, 2025 to Mar 31, 2026
    • HNW clients · 43 to 38
      May 7, 2025 to Mar 31, 2026
    • Individual clients · 754 to 922
      May 7, 2025 to Mar 31, 2026
    • Pension plan clients · unset to 11.0
      May 7, 2025 to Mar 31, 2026
    • Employees · 20 to 9
      May 7, 2025 to Mar 31, 2026
    • Insurance-licensed employees · 2 to 3
      May 7, 2025 to Mar 31, 2026
    • State-registered IARs · 14 to 8
      May 7, 2025 to Mar 31, 2026
    • Other offices · 8 to 3
      May 7, 2025 to Mar 31, 2026
    • Discretionary RAUM · $130M to $141M
      May 7, 2025 to Mar 31, 2026
    • HNW RAUM · $59.6M to $66.2M
      May 7, 2025 to Mar 31, 2026
    • Individual RAUM · $70.8M to $71.0M
      May 7, 2025 to Mar 31, 2026
    • Non-discretionary RAUM · $1.1M to $1.2M
      May 7, 2025 to Mar 31, 2026
    • Pension RAUM · unset to 4406828.0
      May 7, 2025 to Mar 31, 2026
    • RAUM · $131M to $142M
      May 7, 2025 to Mar 31, 2026
    • BD registered reps · 13 to 19
      Feb 5, 2025 to May 7, 2025
    • Employees · 15 to 20
      Feb 5, 2025 to May 7, 2025
    • Insurance-licensed employees · 0 to 2
      Feb 5, 2025 to May 7, 2025
    • Financial planning clients · 11-25 to 11-25
      Feb 5, 2025 to May 7, 2025
    • State-registered IARs · 13 to 14
      Feb 5, 2025 to May 7, 2025
    • Accounts · 1,250 to 1,172
      Aug 22, 2024 to Feb 5, 2025
    • BD registered reps · 14 to 13
      Aug 22, 2024 to Feb 5, 2025
    • Charity clients · unset to 1.0
      Aug 22, 2024 to Feb 5, 2025
    • Corporate clients · 10 to 7
      Aug 22, 2024 to Feb 5, 2025
    • HNW clients · 49 to 43
      Aug 22, 2024 to Feb 5, 2025
    • Individual clients · 1,187 to 754
      Aug 22, 2024 to Feb 5, 2025
    • State-registered IARs · 14 to 13
      Aug 22, 2024 to Feb 5, 2025
    • Other offices · 9 to 8
      Aug 22, 2024 to Feb 5, 2025
    • Discretionary RAUM · $139M to $130M
      Aug 22, 2024 to Feb 5, 2025
    • HNW RAUM · $41.5M to $59.6M
      Aug 22, 2024 to Feb 5, 2025
    • Individual RAUM · $96.9M to $70.8M
      Aug 22, 2024 to Feb 5, 2025
    • Non-discretionary RAUM · $55,356 to $1.1M
      Aug 22, 2024 to Feb 5, 2025
    • RAUM · $139M to $131M
      Aug 22, 2024 to Feb 5, 2025
    • Advisory employees · 15 to 14
      Feb 20, 2024 to Aug 22, 2024
    • BD registered reps · 15 to 14
      Feb 20, 2024 to Aug 22, 2024
    • Employees · 17 to 15
      Feb 20, 2024 to Aug 22, 2024
    • State-registered IARs · 15 to 14
      Feb 20, 2024 to Aug 22, 2024
    • Other offices · 10 to 9
      Feb 20, 2024 to Aug 22, 2024
    Signals
    20 dated events
    • Trutoro no longer on the SEC adviser roster (last listed 2026-04-01, RAUM $142.0M)
      May 1, 2026 · Left the SEC roster · derived
    • Rebecca Gail Murdoch left Trutoro for Money Concepts Advisory Service (registered 2026-01-06)
      Apr 15, 2026 · Advisor changed firm · fact
    • Gary Thomas Seibel left Trutoro for Money Concepts Advisory Service (registered 2026-01-01)
      Apr 15, 2026 · Advisor changed firm · fact
    • David Vincent Derosa left Trutoro for Money Concepts Advisory Service (registered 2025-12-23)
      Apr 15, 2026 · Advisor changed firm · fact
    • Trutoro's advisors moved to Money Concepts Advisory Service (Conway, AR): 3 of 3 registered, on the same day
      Apr 15, 2026 · Firm absorbed (people side) · derived
    • Trutoro reported 3 offices beyond its principal office, down from 8 (2025-05-07 to 2026-03-31)
      Mar 31, 2026 · Office count change · derived
    • Bradley Thomas Goss left Trutoro for Raymond James Financial Services Advisors, Inc (registered 2026-01-28)
      Jan 26, 2026 · Advisor changed firm · fact
    • 2 advisors left Trutoro (Conway, AR) for Raymond James Financial Services Advisors, Inc on the same day
      Jan 26, 2026 · Team lift-out · derived
    • John-Paul Davis left Trutoro for Raymond James Financial Services Advisors, Inc (registered 2026-01-28)
      Jan 26, 2026 · Advisor changed firm · fact
    • Mitchum Wilhite Tapson left Trutoro for Money Concepts Advisory Service (registered 2026-01-07)
      Jan 6, 2026 · Advisor changed firm · fact
    • Ronald Herbert Bruton left Trutoro for Money Concepts Advisory Service (registered 2025-12-19)
      Dec 22, 2025 · Advisor changed firm · fact
    • Daniel Lucas Dickerson left Trutoro for Money Concepts Advisory Service (registered 2025-12-15)
      Dec 22, 2025 · Advisor changed firm · fact
    • Jeffrey Scott Fountain left Trutoro for Fountain Financial & Tax (registered 2026-01-01)
      Dec 18, 2025 · Advisor changed firm · fact
    • Terry Lucas Minton left Trutoro for Money Concepts Advisory Service (registered 2025-12-05)
      Dec 10, 2025 · Advisor changed firm · fact
    • 4 advisors left Trutoro (Cabot, AR) for Money Concepts Advisory Service within 16 days
      Dec 6, 2025 · Team lift-out · derived
    • Jim Donald Leonard left Trutoro for Money Concepts Advisory Service (registered 2025-12-10)
      Dec 6, 2025 · Advisor changed firm · fact
    • Broc Stuart Hart left Trutoro for Thrivent Investment Management Inc. (registered 2025-07-03)
      Jun 27, 2025 · Advisor changed firm · fact
    • Joe Allen Justus left Trutoro for Retirepath Wealth, Llc (registered 2025-01-02)
      Dec 31, 2024 · Advisor changed firm · fact
    • Townsend Phillip Phipps left Trutoro for Riverland Wealth Management (registered 2024-01-31)
      Jan 31, 2024 · Advisor changed firm · fact
    • Veritas Independent Partners, Llc filed its initial SEC registration (Form ADV)
      Mar 29, 2021 · 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.
    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
    Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
    RAUM per advisor
    n/aderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026