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
Fluent Financial, LLC
Latest filing Apr 29, 2026
First filing on the tape Dec 13, 2013 · 26 filings
SEC status approved since Jan 6, 2014
RAUM
$330M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
98%
$324M individuals and HNW
Advisors
5
registered through the firm on IAPD
RAUM per advisor
$65.9M
derived; firm RAUM over IAPD count
Employees
9
6 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
26 filings and snapshots on the tape
RAUM$330M as of Apr 29, 2026
Feb 20, 2015$131M then
HNW client RAUM$112M as of Apr 29, 2026
Mar 13, 2018$109M then
State-registered IARs (5.B.3)4 as of Apr 29, 2026
Feb 20, 20152 then
Employees (5.A)9 as of Apr 29, 2026
Feb 20, 20154 then
Private funds: no history
RAUM +11% over the last fiscal year+9.6% a year over threeIARs 4 to 4
Practice profile
derived from the filing of Apr 29, 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
- Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
- Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
- RAUM per advisor
- $65.9MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 50derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.3MderivedHNW RAUM over HNW clients
- Average account
- $320,084derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 1.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.8derivedItem 5.A over advisors
- Advisors per office
- 5.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +11%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -41%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, pension consulting, selection of other advisers, educational seminarsreportedItem 5.G
- Wrap fee program
- $343MreportedItem 5.I
- Custody
- $330M, 260 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)
- marketing includes testimonials (5.L.1.c)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Individuals$212M64%
- High-net-worth individuals$112M34%
- Pension and profit-sharing plans$5.9M1.8%
- Individual clients
- 164reported
- HNW clients
- 87reported
- Pension plan clients
- 9reported
- Charitable clients
- n/areported
- Accounts
- 1,030reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- $13.4M sponsored, $316M managedreported
- Custody of client assets
- $330M for 260 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.98 fund_share=0.0 institutional_share=0.02 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
5 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Mitchell Steven KramerCertified Financial Planner | Dallas, Tx | Jan 6, 2014 | 30 y | 2 |
| Matthew Thomas Pence | Dallas, Tx | Dec 1, 2024 | 10 y | 1 |
| Ian James Cobb | Dallas, Tx | Jul 8, 2025 | 10 y | 0 |
| Ethan Mayo | Dallas, Tx | Jun 1, 2026 | 11 y | 0 |
| Madison Lyn Begley | Dallas, Tx | Aug 17, 2026 | 11 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 headcount3 left over 36 months
Left, latest
- Michael James Baer to Capital Advisors, Inc.Oct 22, 2024 · RIA to RIA
- Dillon Kanhalikham to Coppell Advisory Solutions LLCJul 25, 2024 · RIA to RIA
- Braden Seth Schaffner to Ashton Thomas Private WealthApr 4, 2024 · RIA to RIA
- Tabitha Ann Garreffa to Abg ConsultantsNov 10, 2021 · Other
- Amy Suzanne Nelson to Ameriprise Financial Services, LLCMay 29, 2015 · Other
Joined, latest
- Matthew Thomas Pence from Fisher InvestmentsDec 1, 2024 · RIA to RIA
- Dillon Kanhalikham from Cx Institutional, LLCJan 23, 2024 · RIA to RIA
- Michael James Baer from Fisher InvestmentsAug 17, 2021 · RIA to RIA
- Braden Seth Schaffner from Wells Fargo AdvisorsMay 4, 2021 · Wirehouse to independent RIA
- Tabitha Ann Garreffa from First Command Advisory ServicesMay 24, 2017 · Other
- Mitchell Steven Kramer from LPL Financial LLCJan 6, 2014 · Other
- Amy Suzanne Nelson from LPL Financial LLCJan 6, 2014 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Steven Mitchell Kramer · Managing Member/ Chief Compliance Officercontrolsince 01/2014 · owns 75% or more
- James Michael Baer · Director Of Operationssince 02/2021 · owns less than 5%
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 |
|---|---|---|---|---|---|
| Dallas, Tx · principal | 5 | 2 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
3 against comparable advisers; where to look, not conclusions
- clients down average size upCombination · filing Apr 29, 2026private clients fell 20 percent or more while RAUM per client rose 30 percent or more: a move up-market or the departure of small accounts. RAUM $297,138,659 to $329,686,911, advisors 4 to 4, private clients 426 to 251, offices 0 to 0 (2025-03-25 to 2026-04-29)peers: independent wealth managers, $100M to $500M (5,676)
- client count collapseChange between filings · filing Apr 29, 2026individual and HNW clients (Item 5.D) moved from 426.0 to 251.0 (-41.0%) between the annual amendments of 2025-03-25 and 2026-04-29; the peer median change was +3.0% (3310 comparable advisers, 3.0th percentile of changes)peers: independent wealth managers, $100M to $500M (3,310) · 2.5% percentile
- HNW share shiftChange between filings · filing Apr 29, 2026HNW share of RAUM moved from 88.0% to 34.0% between the annual amendments of 2025-03-25 and 2026-04-29peers: independent wealth managers, $100M to $500M (5,676)
What changed
consecutive filings, newest first
- BD registered reps · 4 to 0Mar 24, 2026 to Apr 29, 2026
- Accounts · 1,047 to 1,030Aug 19, 2025 to Mar 24, 2026
- BD registered reps · 5 to 4Aug 19, 2025 to Mar 24, 2026
- HNW clients · 191 to 87Aug 19, 2025 to Mar 24, 2026
- Individual clients · 235 to 164Aug 19, 2025 to Mar 24, 2026
- Pension plan clients · 6 to 9Aug 19, 2025 to Mar 24, 2026
- Assets in custody · $297M to $330MAug 19, 2025 to Mar 24, 2026
- Discretionary RAUM · $297M to $330MAug 19, 2025 to Mar 24, 2026
- HNW RAUM · $261M to $112MAug 19, 2025 to Mar 24, 2026
- Individual RAUM · $35.7M to $212MAug 19, 2025 to Mar 24, 2026
- Pension RAUM · $827,841 to $5.9MAug 19, 2025 to Mar 24, 2026
- RAUM · $297M to $330MAug 19, 2025 to Mar 24, 2026
- Wrap assets (manager) · $285M to $316MAug 19, 2025 to Mar 24, 2026
- Wrap assets (sponsor) · $12.1M to $13.4MAug 19, 2025 to Mar 24, 2026
- Accounts · 1,116 to 1,047Mar 15, 2024 to Mar 25, 2025
- HNW clients · 185 to 191Mar 15, 2024 to Mar 25, 2025
- Individual clients · 227 to 235Mar 15, 2024 to Mar 25, 2025
- Assets in custody · $288M to $297MMar 15, 2024 to Mar 25, 2025
- Financial planning clients · 1-10 to 1-10Mar 15, 2024 to Mar 25, 2025
- State-registered IARs · 5 to 4Mar 15, 2024 to Mar 25, 2025
- Discretionary RAUM · $288M to $297MMar 15, 2024 to Mar 25, 2025
- HNW RAUM · $252M to $261MMar 15, 2024 to Mar 25, 2025
- Individual RAUM · $34.5M to $35.7MMar 15, 2024 to Mar 25, 2025
- Pension RAUM · $801,823 to $827,841Mar 15, 2024 to Mar 25, 2025
- RAUM · $288M to $297MMar 15, 2024 to Mar 25, 2025
- Wrap assets (manager) · $0 to $285MMar 15, 2024 to Mar 25, 2025
- Wrap assets (sponsor) · $12.6M to $12.1MMar 15, 2024 to Mar 25, 2025
- Accounts · 1,079 to 1,116Mar 21, 2023 to Mar 15, 2024
- Advisory employees · 7 to 6Mar 21, 2023 to Mar 15, 2024
- Advisory activities · 4 to 5Mar 21, 2023 to Mar 15, 2024
- BD registered reps · 4 to 5Mar 21, 2023 to Mar 15, 2024
- HNW clients · 181 to 185Mar 21, 2023 to Mar 15, 2024
- Individual clients · 220 to 227Mar 21, 2023 to Mar 15, 2024
- Pension plan clients · 7 to 6Mar 21, 2023 to Mar 15, 2024
- Assets in custody · $248M to $288MMar 21, 2023 to Mar 15, 2024
- Employees · 10 to 9Mar 21, 2023 to Mar 15, 2024
- State-registered IARs · 4 to 5Mar 21, 2023 to Mar 15, 2024
- Discretionary RAUM · $250M to $288MMar 21, 2023 to Mar 15, 2024
- HNW RAUM · $224M to $252MMar 21, 2023 to Mar 15, 2024
- Individual RAUM · $26.0M to $34.5MMar 21, 2023 to Mar 15, 2024
Signals
4 dated events
- Michael James Baer left Fluent Financial, Llc for Capital Advisors, Inc. (registered 2024-11-15)Oct 22, 2024 · Advisor changed firm · fact
- Dillon Kanhalikham left Fluent Financial, Llc for Coppell Advisory Solutions Llc (registered 2024-08-16)Jul 25, 2024 · Advisor changed firm · fact
- Braden Seth Schaffner left Fluent Financial, Llc for Ashton Thomas Private Wealth (registered 2024-05-28)Apr 4, 2024 · Advisor changed firm · fact
- Fluent Financial, Llc filed its initial SEC registration (Form ADV)Dec 13, 2013 · 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
- Firm profile
- linkedin.com/company/fluent-financial-llcreportedpublic record, Form ADV, Sep 17, 2026
- Website
- FLUENTFINANCIAL.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 972-852-4800reportedpublic record, Form ADV, Apr 29, 2026
- Contact form
- fluentfinancial.com/contact-usreportedpublished 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
- $65.9Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026