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

Denver Pwm, LLC

Independent wealth managerDenver, ColoradoCRD 171139SEC 801-79624websiteIAPD
Latest filing Sep 16, 2026
First filing on the tape Apr 10, 2014 · 58 filings
SEC status approved since Apr 24, 2014
RAUM
$524M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
90%
$470M individuals and HNW
Advisors
7
registered through the firm on IAPD
RAUM per advisor
$74.9M
derived; firm RAUM over IAPD count
Employees
6
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
58 filings and snapshots on the tape
RAUM$524M as of Mar 31, 2026
Mar 3, 2015$117M then
HNW client RAUM$430M as of Mar 31, 2026
Feb 21, 2018$102M then
State-registered IARs (5.B.3)4 as of Mar 31, 2026
Mar 3, 20153 then
Employees (5.A)6 as of Mar 31, 2026
Mar 3, 20157 then
Private funds: no history
RAUM -5.4% over the last fiscal year+5.5% a year over threeIARs 6 to 4
Practice profile
derived from the filing of Sep 16, 2026; every figure names its basis
RAUM per advisor
$74.9MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
29derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$4.8MderivedHNW RAUM over HNW clients
Average account
$690,870derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
10%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.9derivedItem 5.A over advisors
Advisors per office
7.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
-5.4%derivedbetween the last two annual amendments
Advisor growth, one year
-33%derivedItem 5.B.3 between annual amendments
Client growth, one year
-34%derived
Compensation
percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, pension consultingreportedItem 5.G
Custody
$16.5M, 74 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)
  • has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$430M82%
  • Individuals$40.0M7.6%
  • Pension and profit-sharing plans$39.3M7.5%
  • Charitable organizations$15.1M2.9%
Individual clients
115reported
HNW clients
89reported
Pension plan clients
15reported
Charitable clients
2reported
Accounts
759reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
$16.5M for 74 clientsreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.9 fund_share=0.0 institutional_share=0.1 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
6 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Harold John ClassickDenver, CoDec 19, 201431 y1
Darin Michael SnowDenver, CoJan 5, 201731 y3
Brian Matthew RettigChartered Financial AnalystDenver, Co Oct 24, 201728 y1
Andrew Ramsey KelleherCertified Financial PlannerDenver, CoJan 8, 202316 y2
Timothy Joseph KulickCentennial, Co Sep 12, 202327 y4
Logan RichardCertified Financial PlannerDenver, CoNov 15, 202411 y0
Advisor movement
1 left, 0 joined in 12 months
net -1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 14% of current headcount5 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
  • Edward Matthew Lengel · Partner And Chief Compliance Officercontrol
    since 01/2023 · owns 10% to 25%
  • Matthew Brian Rettig · Partnercontrol
    since 01/2020 · owns less than 5%
  • Michael Darin Snow · Managing Partnercontrol
    since 01/2019 · owns 50% to 75%
Related persons
Schedule D 7.A
  • Harold Classick
    insurancen
  • Tim Kulick
    insurancen
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Denver, Co · principal701
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
2 against comparable advisers; where to look, not conclusions
  • clients down average size upCombination · filing Mar 31, 2026
    private 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 $554,076,246 to $524,370,341, advisors 6 to 4, private clients 308 to 204, offices 0 to 0 (2025-03-30 to 2026-03-31)
    peers: independent wealth managers, $500M to $1B (1,482)
  • advisor count dropChange between filings · filing Mar 31, 2026
    advisory representatives (Item 5.B.3) moved from 6.0 to 4.0 (-33.0%) between the annual amendments of 2025-03-30 and 2026-03-31; the peer median change was 0.0% (795 comparable advisers, 2.0th percentile of changes)
    peers: independent wealth managers, $500M to $1B (795) · 1.6% percentile
How anomalies are measured
What changed
consecutive filings, newest first
  • Financial planning clients · 0 to 0
    Mar 31, 2026 to Sep 16, 2026
  • Related adviser · false to true
    Mar 31, 2026 to Sep 16, 2026
  • Succession · false to unset
    Mar 31, 2026 to Sep 16, 2026
  • Accounts · 1,078 to 759
    Jan 18, 2026 to Mar 31, 2026
  • Advisory employees · 5 to 4
    Jan 18, 2026 to Mar 31, 2026
  • Advisory activities · 4 to 3
    Jan 18, 2026 to Mar 31, 2026
  • Charity clients · unset to 2.0
    Jan 18, 2026 to Mar 31, 2026
  • Corporate clients · 8 to 0
    Jan 18, 2026 to Mar 31, 2026
  • HNW clients · 134 to 89
    Jan 18, 2026 to Mar 31, 2026
  • Individual clients · 174 to 115
    Jan 18, 2026 to Mar 31, 2026
  • Pension plan clients · 20 to 15
    Jan 18, 2026 to Mar 31, 2026
  • Pooled vehicle clients · unset to 0.0
    Jan 18, 2026 to Mar 31, 2026
  • Assets in custody · $16.5M to $16.5M
    Jan 18, 2026 to Mar 31, 2026
  • Employees · 9 to 6
    Jan 18, 2026 to Mar 31, 2026
  • Insurance-licensed employees · 1 to 0
    Jan 18, 2026 to Mar 31, 2026
  • Financial planning clients · 1-10 to 0
    Jan 18, 2026 to Mar 31, 2026
  • State-registered IARs · 6 to 4
    Jan 18, 2026 to Mar 31, 2026
  • Discretionary RAUM · $554M to $524M
    Jan 18, 2026 to Mar 31, 2026
  • HNW RAUM · $454M to $430M
    Jan 18, 2026 to Mar 31, 2026
  • Individual RAUM · $53.7M to $40.0M
    Jan 18, 2026 to Mar 31, 2026
  • Pension RAUM · $13.0M to $39.3M
    Jan 18, 2026 to Mar 31, 2026
  • Pooled vehicle RAUM · unset to 0.0
    Jan 18, 2026 to Mar 31, 2026
  • RAUM · $554M to $524M
    Jan 18, 2026 to Mar 31, 2026
  • Financial planning clients · 1-10 to 1-10
    May 15, 2025 to Jun 17, 2025
  • Accounts · 1,678 to 1,078
    Oct 10, 2024 to Mar 30, 2025
  • Advisory employees · 13 to 5
    Oct 10, 2024 to Mar 30, 2025
  • Charity clients · 9.0 to unset
    Oct 10, 2024 to Mar 30, 2025
  • Corporate clients · unset to 8.0
    Oct 10, 2024 to Mar 30, 2025
  • HNW clients · 191 to 134
    Oct 10, 2024 to Mar 30, 2025
  • Individual clients · 297 to 174
    Oct 10, 2024 to Mar 30, 2025
  • Pension plan clients · 29 to 20
    Oct 10, 2024 to Mar 30, 2025
  • Assets in custody · unset to 16484378.0
    Oct 10, 2024 to Mar 30, 2025
  • Custody of client assets · false to true
    Oct 10, 2024 to Mar 30, 2025
  • Employees · 16 to 9
    Oct 10, 2024 to Mar 30, 2025
  • Financial planning clients · 51-100 to 1-10
    Oct 10, 2024 to Mar 30, 2025
  • State-registered IARs · 13 to 6
    Oct 10, 2024 to Mar 30, 2025
  • Discretionary RAUM · $583M to $554M
    Oct 10, 2024 to Mar 30, 2025
  • HNW RAUM · $439M to $454M
    Oct 10, 2024 to Mar 30, 2025
  • Individual RAUM · $110M to $53.7M
    Oct 10, 2024 to Mar 30, 2025
  • Non-discretionary RAUM · $2.8M to $0
    Oct 10, 2024 to Mar 30, 2025
Signals
14 dated events
  • Matthew Edward Lengel left Denver Pwm, Llc for Summitpoint Capital Management (registered 2025-09-25)
    Oct 1, 2025 · Advisor changed firm · fact
  • Craig Alan Austad left Denver Pwm, Llc for Savvy (registered 2024-09-17)
    Dec 4, 2024 · Advisor changed firm · fact
  • Roger Lawrence Pierce left Denver Pwm, Llc for Farther (registered 2024-09-11)
    Dec 4, 2024 · Advisor changed firm · fact
  • Sherri Lyn Gilligan left Denver Pwm, Llc for Farther (registered 2024-09-11)
    Dec 4, 2024 · Advisor changed firm · fact
  • 3 advisors left Denver Pwm, LLC (Denver, CO) for Farther on the same day
    Dec 4, 2024 · Team lift-out · derived
  • Leonard Scott Sanford left Denver Pwm, Llc for Farther (registered 2024-09-11)
    Dec 4, 2024 · Advisor changed firm · fact
  • Denver Pwm, Llc reported RAUM $585.8M, up 31% from $447.1M (2024-03-19 to 2024-03-26)
    Mar 26, 2024 · RAUM change · derived
  • Matthew Brian Rettig (Partner) appeared on Schedule A of Denver Pwm, Llc
    Mar 24, 2023 · Control person joined · fact
  • David Mark Levine (Member, Cco) no longer on Schedule A of Denver Pwm, Llc (listed 2022-03-21, absent 2023-03-24)
    Mar 24, 2023 · Control person left · inference
  • Edward Matthew Lengel (Partner And Chief Compliance Officer) appeared on Schedule A of Denver Pwm, Llc
    Mar 24, 2023 · Control person joined · fact
  • David Mark Levine (Member, Cco) appeared on Schedule A of Denver Pwm, Llc
    Jan 11, 2019 · Control person joined · fact
  • Anthony Robert Spicer (Managing Member/President/Cco) no longer on Schedule A of Denver Pwm, Llc (listed 2018-11-30, absent 2019-01-11)
    Jan 11, 2019 · Control person left · inference
  • Michael Darin Snow (Member) appeared on Schedule A of Denver Pwm, Llc
    Jan 11, 2019 · Control person joined · fact
  • Ffec Advisory Group Llc filed its initial SEC registration (Form ADV)
    Apr 10, 2014 · 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@denverpwm.comreportedpublished by the firm, firm site, Sep 16, 2026
Business phone
720-354-3850reportedpublished by the firm, firm site, Sep 16, 2026
Website
DENVERPWM.COMreportedpublic record, Form ADV, Sep 18, 2026
Principal office phone
720-354-3850reportedpublic record, Form ADV, 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
$74.9Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026