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

U.S. Bancorp Investments, Inc.

Former SEC-registered adviserSaint Paul, MinnesotaCRD 17868SEC 801-68122IAPD
Latest filing Mar 31, 2026
First filing on the tape Dec 16, 2011 · 100 filings
SEC status approved since Jul 23, 2007
RAUM
$23B
reported, Item 5.F
Discretionary
35%
of RAUM
Private clients
97%
$22B individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
2,148
944 advisory (5.B.1)
Offices
1,579
beyond the principal office
Private funds
0
reported on Schedule D
History
100 filings and snapshots on the tape
RAUM$23B as of Mar 31, 2026
Feb 27, 2012$1.9B then
HNW client RAUM$7.7B as of Mar 31, 2026
Mar 23, 2018$2.1B then
State-registered IARs (5.B.3)1,021 as of Mar 31, 2026
Feb 27, 20120 then
Employees (5.A)2,148 as of Mar 31, 2026
Apr 1, 20131,865 then
Private funds: no history
RAUM +19% over the last fiscal year+20% a year over threeIARs 998 to 1,021offices 1,645 to 1,579
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
RAUM per advisor
$22.5MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
48derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.1MderivedHNW RAUM over HNW clients
Average account
$351,810derivedRAUM over accounts (5.F.2.f)
Discretionary
35%derivedof RAUM
Institutional
0.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
2.1derivedItem 5.A over advisors
Advisors per office
0.6derived1,580 offices incl. principal (1.F.5)
RAUM growth, one year
+19%derivedbetween the last two annual amendments
Advisor growth, one year
+2.3%derivedItem 5.B.3 between annual amendments
Client growth, one year
-6.3%derived
Compensation
otherreportedItem 5.E
Advisory activities
otherreportedItem 5.G
Financial planning clients
15,500reportedItem 5.H
Custody
$23B, 49,199 clientsreportedItem 9.A
Ownership
a bank, bancorp or trust company is a 50 percent or greater ownerderived
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)
  • 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)
  • the adviser acts as qualified custodian (9.D.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$15B64%
  • High-net-worth individuals$7.7B33%
  • Corporations and businesses$398M1.7%
  • Pension and profit-sharing plans$116M0.5%
  • State and municipal entities$48.4M0.2%
  • Charitable organizations$21.2M0.1%
Individual clients
44,939reported
HNW clients
3,709reported
Pension plan clients
97reported
Charitable clients
39reported
Accounts
65,208reported
Financial planning clients
15,500reported
Wrap fee programs
noreported
Custody of client assets
$23B for 49,199 clientsreported
Compensation
n/areported
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
34 left, 37 joined in 12 months
net +3 in 12 months0 left in 90 days0 joined in 90 days175 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
  • Shannon Keith Clark · Director And Chief Financial Officercontrol
    since 08/2024 · owns less than 5%
  • Joel Ira Floum · Directorcontrol
    since 01/2024 · owns less than 5%
  • Beth D Lawlor · Directorcontrol
    since 07/2023 · owns less than 5%
  • John William Jr. Molloy · Directorcontrol
    since 10/2024 · owns less than 5%
  • Michael Francis Poell · Senior Vice President, Compliance Manager And Directorcontrol
    since 09/2011 · owns less than 5%
  • Stephen Kyle Stegemeyer · Directorcontrol
    since 08/2024 · owns less than 5%
  • Stephen Ward Steiner · Chief Executive Officer, Chief Operating Officer, Senior Vice President And Directorcontrol
    since 06/2024 · owns less than 5%
  • Jeffrey Adam Walter · Chief Compliance Officer, Directorcontrol
    since 01/2010 · owns less than 5%
  • James Whang · Directorcontrol
    since 01/2023 · owns less than 5%
  • Masood Ahmad · Senior Vice President, Operations Manager
    since 04/2024 · owns less than 5%
  • Matthew Ryan Mccarthy · Chief Legal Officer
    since 08/2021 · owns less than 5%
Entity owners
  • U.S. Bancorp · Parent Corporation
    direct · owns 75% or more · public reporting company
Related persons
Schedule D 7.A
Advisers that list U.S. Bancorp Investments, Inc. as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Albuquerque, Nm000
Anaheim, Ca001
Arvada, Co000
Aurora, Co000
Belleville, Il001
Bellingham, Wa000
Benton, Il000
Blaine, Mn001
Boise, Id000
Bowling Green, Ky000
Brea, Ca000
Bremerton, Wa000
Brookfield, Wi000
Chandler, Az000
Chaska, Mn001
Chesterfield, Mo0021
Chicago, Il000
Cincinnati, Oh000
Davis, Ca000
Denver, Co000
All 60 offices
Offices
Schedule D 1.F, the 25 largest
  • Cincinnati, OH21 employees
  • Seattle, WA12 employees
  • Minneapolis, MN12 employees
  • Milwaukee, WI8 employees
  • Sioux Falls, SD7 employees
  • Gresham, OR6 employees
  • Ames, IA5 employees
  • Bowling Green, KY5 employees
  • Vancouver, WA5 employees
  • Portland, OR5 employees
  • Chicago, IL4 employees
  • Chesterfield, MO4 employees
  • Salem, OR4 employees
  • Los Angeles, CA4 employees
  • Lakewood, CO4 employees
  • Sioux City, IA4 employees
  • Concord, CA3 employees
  • Saint Cloud, MN3 employees
  • Spokane, WA3 employees
  • Chicago, IL3 employees
  • Denver, CO3 employees
  • Cedar Rapids, IA3 employees
  • Springfield, MO3 employees
  • Cincinnati, OH3 employees
  • Appleton, WI3 employees
What changed
consecutive filings, newest first
  • Accounts · 66,996 to 65,208
    Dec 18, 2025 to Mar 31, 2026
  • Advisory employees · 919 to 944
    Dec 18, 2025 to Mar 31, 2026
  • Advisory activities · 5 to 1
    Dec 18, 2025 to Mar 31, 2026
  • BD registered reps · 1,922 to 1,898
    Dec 18, 2025 to Mar 31, 2026
  • Charity clients · 31 to 39
    Dec 18, 2025 to Mar 31, 2026
  • Corporate clients · 354 to 408
    Dec 18, 2025 to Mar 31, 2026
  • HNW clients · 2,849 to 3,709
    Dec 18, 2025 to Mar 31, 2026
  • Individual clients · 49,096 to 44,939
    Dec 18, 2025 to Mar 31, 2026
  • Pension plan clients · 98 to 97
    Dec 18, 2025 to Mar 31, 2026
  • Assets in custody · $19B to $23B
    Dec 18, 2025 to Mar 31, 2026
  • Employees · 2,152 to 2,148
    Dec 18, 2025 to Mar 31, 2026
  • Insurance-licensed employees · 0 to 61
    Dec 18, 2025 to Mar 31, 2026
  • State-registered IARs · 998 to 1,021
    Dec 18, 2025 to Mar 31, 2026
  • Other offices · 1,645 to 1,579
    Dec 18, 2025 to Mar 31, 2026
  • Discretionary RAUM · $6.8B to $8.0B
    Dec 18, 2025 to Mar 31, 2026
  • HNW RAUM · $5.9B to $7.7B
    Dec 18, 2025 to Mar 31, 2026
  • Individual RAUM · $13B to $15B
    Dec 18, 2025 to Mar 31, 2026
  • Non-discretionary RAUM · $13B to $15B
    Dec 18, 2025 to Mar 31, 2026
  • Pension RAUM · $116M to $116M
    Dec 18, 2025 to Mar 31, 2026
  • RAUM · $19B to $23B
    Dec 18, 2025 to Mar 31, 2026
  • Wrap assets (manager) · 0.0 to unset
    Dec 18, 2025 to Mar 31, 2026
  • Wrap assets (sponsor) · 12523356904.0 to unset
    Dec 18, 2025 to Mar 31, 2026
  • Financial planning clients · More than 500 to More than 500
    Apr 4, 2025 to Jun 13, 2025
  • Accounts · 60,028 to 66,996
    Jan 16, 2025 to Apr 4, 2025
  • Advisory employees · 951 to 919
    Jan 16, 2025 to Apr 4, 2025
  • BD registered reps · 2,079 to 1,922
    Jan 16, 2025 to Apr 4, 2025
  • Charity clients · 59 to 31
    Jan 16, 2025 to Apr 4, 2025
  • Corporate clients · 274 to 354
    Jan 16, 2025 to Apr 4, 2025
  • HNW clients · 1,792 to 2,849
    Jan 16, 2025 to Apr 4, 2025
  • Individual clients · 44,990 to 49,096
    Jan 16, 2025 to Apr 4, 2025
  • Pension plan clients · 122 to 98
    Jan 16, 2025 to Apr 4, 2025
  • Assets in custody · $16B to $19B
    Jan 16, 2025 to Apr 4, 2025
  • Employees · 2,307 to 2,152
    Jan 16, 2025 to Apr 4, 2025
  • Other offices · 1,644 to 1,645
    Jan 16, 2025 to Apr 4, 2025
  • Discretionary RAUM · $5.6B to $6.8B
    Jan 16, 2025 to Apr 4, 2025
  • HNW RAUM · $3.3B to $5.9B
    Jan 16, 2025 to Apr 4, 2025
  • Individual RAUM · $12B to $13B
    Jan 16, 2025 to Apr 4, 2025
  • Non-discretionary RAUM · $10B to $13B
    Jan 16, 2025 to Apr 4, 2025
  • Pension RAUM · $101M to $116M
    Jan 16, 2025 to Apr 4, 2025
  • RAUM · $16B to $19B
    Jan 16, 2025 to Apr 4, 2025
Signals
60 dated events
  • U.S. Bancorp Investments, Inc. no longer on the SEC adviser roster (last listed 2026-04-01, RAUM $22.9B)
    May 1, 2026 · Left the SEC roster · derived
  • Burnis Joseph Chitwood left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2025-05-21)
    Apr 10, 2026 · Advisor changed firm · fact
  • Matthew Joachim Dufresne left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2025-10-30)
    Apr 10, 2026 · Advisor changed firm · fact
  • Scott Allen Labuhn left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2025-09-24)
    Apr 10, 2026 · Advisor changed firm · fact
  • Christopher Martin Cognetta left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2025-09-22)
    Apr 10, 2026 · Advisor changed firm · fact
  • Monica Douglas left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2025-12-16)
    Apr 7, 2026 · Advisor changed firm · fact
  • James Wayne Carey left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2024-03-15)
    Apr 7, 2026 · Advisor changed firm · fact
  • Brooke Noele Forsberg left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2026-03-18)
    Apr 7, 2026 · Advisor changed firm · fact
  • Kathleen Amanda Peters left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2023-08-04)
    Apr 7, 2026 · Advisor changed firm · fact
  • Teresa Lynn Hall left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2025-02-12)
    Apr 7, 2026 · Advisor changed firm · fact
  • Brandon James Remer left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2024-03-15)
    Apr 7, 2026 · Advisor changed firm · fact
  • U.S. Bancorp Investments, Inc.'s advisors moved to U.S. Bancorp Advisors, LLC (Saint Paul, MN): 8 of 10 registered, within 3 days
    Apr 7, 2026 · Firm absorbed (people side) · derived
  • U.S. Bancorp Investments, Inc. reported 1579 offices beyond its principal office, down from 1645 (2025-12-18 to 2026-03-31)
    Mar 31, 2026 · Office count change · derived
  • Cynthia Alexandra Jackson left U.S. Bancorp Investments, Inc. for Digital Ascension Group - Wealth (registered 2026-04-21)
    Mar 20, 2026 · Advisor changed firm · fact
  • Jodi Thompson Rolland no longer registered at U.S. Bancorp Investments, Inc.; no later IA registration on IAPD
    Feb 20, 2026 · Advisor departure · fact
  • Victor Armando Vera Morales left U.S. Bancorp Investments, Inc. for J.P. Morgan Securities Llc (registered 2026-03-20)
    Feb 18, 2026 · Advisor changed firm · fact
  • Charles Romano no longer registered at U.S. Bancorp Investments, Inc.; no later IA registration on IAPD
    Feb 13, 2026 · Advisor departure · fact
  • Tyler Dean Schaper left U.S. Bancorp Investments, Inc. for Visionary Wealth Advisors, Llc (registered 2016-06-16)
    Feb 13, 2026 · Advisor changed firm · fact
  • Alexandros P Terzis no longer registered at U.S. Bancorp Investments, Inc.; no later IA registration on IAPD
    Feb 13, 2026 · Advisor departure · fact
  • Aaron Jo Shanklin left U.S. Bancorp Investments, Inc. for Van Clemens Wealth Management, Llc (registered 2026-02-12)
    Feb 11, 2026 · Advisor changed firm · fact
  • Dustin W Hansen left U.S. Bancorp Investments, Inc. for Rbc Securities, Inc. (registered 2026-03-06)
    Feb 9, 2026 · Advisor changed firm · fact
  • Kimberly Nicole Romo left U.S. Bancorp Investments, Inc. for Lpl Financial Llc (registered 2026-02-17)
    Feb 5, 2026 · Advisor changed firm · fact
  • Amy Spiker left U.S. Bancorp Investments, Inc. for U.S. Bancorp Advisors, Llc (registered 2025-03-17)
    Jan 16, 2026 · Advisor changed firm · fact
  • Brian Carlos Meadows left U.S. Bancorp Investments, Inc. for Wells Fargo Advisors (registered 2026-01-06)
    Jan 6, 2026 · Advisor changed firm · fact
  • Gracia Ann Cavanaugh left U.S. Bancorp Investments, Inc. for Associated Investment Services, Inc. (registered 2026-07-03)
    Dec 26, 2025 · Advisor changed firm · fact
  • Caleb Andrew Yeargain left U.S. Bancorp Investments, Inc. for Rbc Capital Markets, Llc (registered 2025-12-05)
    Dec 10, 2025 · Advisor changed firm · fact
  • James Byron Richardson left U.S. Bancorp Investments, Inc. for Rbc Capital Markets, Llc (registered 2025-12-05)
    Dec 10, 2025 · Advisor changed firm · fact
  • Matthew David Goldenberg left U.S. Bancorp Investments, Inc. for Rbc Capital Markets, Llc (registered 2025-12-05)
    Dec 10, 2025 · Advisor changed firm · fact
  • 3 advisors left U.S. Bancorp Investments, Inc. (Chesterfield, MO) for RBC Capital Markets, LLC on the same day
    Dec 10, 2025 · Team lift-out · derived
  • Odunayo Christopher Ogunbameru left U.S. Bancorp Investments, Inc. for Merrill Lynch, Pierce, Fenner & Smith Incorporated (registered 2025-12-12)
    Nov 24, 2025 · Advisor changed firm · 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