DFX Intelligence

RIA Intelligence

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SEC-registered adviser

N•••• W•••• W••••• M•••••••••

Independent wealth managerBuffalo, New YorkCRD 226575SEC 801-115081website IAPD

Legal name N•••• W•••• A•••• M••••••••• L••

Latest filing Mar 14, 2026

First filing on the tape Mar 27, 2019 · 15 filings

SEC status approved since Apr 26, 2019

RAUM

$150M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

99%

$149M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$75.2M

derived; firm RAUM over IAPD count

Employees

2 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

15 filings and snapshots on the tape

RAUM$150M as of Mar 14, 2026

Mar 11, 2020$26.5M then

HNW client RAUM$95.1M as of Mar 14, 2026

Mar 11, 2020$3.0M then

State-registered IARs (5.B.3)2 as of Mar 14, 2026

Mar 11, 20200 then

Employees (5.A)2 as of Mar 14, 2026

Mar 11, 20203 then

Private funds: no history

RAUM +101% over the last fiscal year+42% a year over threeIARs 2 to 2

Practice profile

derived from the filing of Mar 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
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
Solo or small team · one advisor, or a wealth manager with up to three advisors and one office

RAUM per advisor: $75.2MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 97derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $2.1MderivedHNW RAUM over HNW clients
Average account: $221,492derivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 0.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 1.0derivedItem 5.A over advisors
Advisors per office: 2.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year: +101%derivedbetween the last two annual amendments
Advisor growth, one year: +0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year: +32%derived
Compensation: percentage of assets, fixed feesreportedItem 5.E
Advisory activities: financial planning, portfolio management for individuals, pension consultingreportedItem 5.G
Custody: $36.8M, 86 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$95.1M63%
Individuals$53.4M36%
Corporations and businesses$1.6M1.0%
Charitable organizations$265,0520.2%

Individual clients: 149reported
HNW clients: 45reported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 679reported
Financial planning clients: 0reported
Wrap fee programs: noreported
Custody of client assets: $36.8M for 86 clientsreported
Compensation: % of AUM, fixedreported
Class basis: private_client_share=0.99 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived

Advisors registered through the firm

2 on IAPD today, longest tenure first

Name	Branch	Here since	In industry	Prior firms
J••••• T••••• W••••••••Chartered Financial Analyst	Buffalo, Ny	Sep 24, 2021	12 y	0
W•••••• B•••••• W••••••••	Buffalo, Ny	Dec 2, 2021	17 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 headcount0 left over 36 months

Left, latest

none on the tape

Joined, latest

none on the tape

Every departure Every arrival

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

W••••••••• J•••••• T••••• · Managing Member/Ccocontrol
since 01/2018 · owns 25% to 50%
W••••••••• W••••••• B•••••• · Principalcontrol
since 08/2015 · owns 25% to 50%
W••••••••• W••••••• T••••• · Principalcontrol
since 08/2015 · owns 10% to 25%

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
Buffalo, Ny · principal	2	0	0

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

ADV anomalies

3 against comparable advisers; where to look, not conclusions

HNW share shiftChange between filings · filing Mar 14, 2026
HNW share of RAUM moved from 48.0% to 63.0% between the annual amendments of 2025-03-30 and 2026-03-14
peers: independent wealth managers, $100M to $500M (5,678)
account count surgeChange between filings · filing Mar 14, 2026
accounts (Item 5.F.2.f) moved from 435.0 to 679.0 (+56.0%) between the annual amendments of 2025-03-30 and 2026-03-14; the peer median change was +5.0% (3685 comparable advisers, 96.0th percentile of changes)
peers: independent wealth managers, $100M to $500M (3,685) · 96% percentile
RAUM up 50 %Change between filings · filing Mar 14, 2026
RAUM (Item 5.F) moved from $74,820,707 to $150,393,137 (+101.0%) between the annual amendments of 2025-03-30 and 2026-03-14; the peer median change was +15.0% (4548 comparable advisers, 99.0th percentile of changes)
peers: independent wealth managers, $100M to $500M (4,548) · 99% percentile

How anomalies are measured

What changed

consecutive filings, newest first

Accounts · 435 to 679
Jul 2, 2025 to Mar 14, 2026
HNW clients · 21 to 45
Jul 2, 2025 to Mar 14, 2026
Individual clients · 126 to 149
Jul 2, 2025 to Mar 14, 2026
Assets in custody · $15.1M to $36.8M
Jul 2, 2025 to Mar 14, 2026
Discretionary RAUM · $74.8M to $150M
Jul 2, 2025 to Mar 14, 2026
HNW RAUM · $36.0M to $95.1M
Jul 2, 2025 to Mar 14, 2026
Individual RAUM · $36.8M to $53.4M
Jul 2, 2025 to Mar 14, 2026
RAUM · $74.8M to $150M
Jul 2, 2025 to Mar 14, 2026
Financial planning clients · 0 to 0
Mar 30, 2025 to Jul 2, 2025
Accounts · 409 to 435
Mar 13, 2024 to Mar 30, 2025
HNW clients · 10 to 21
Mar 13, 2024 to Mar 30, 2025
Individual clients · 137 to 126
Mar 13, 2024 to Mar 30, 2025
Assets in custody · $9.8M to $15.1M
Mar 13, 2024 to Mar 30, 2025
Discretionary RAUM · $64.8M to $74.8M
Mar 13, 2024 to Mar 30, 2025
HNW RAUM · $20.7M to $36.0M
Mar 13, 2024 to Mar 30, 2025
Individual RAUM · $42.1M to $36.8M
Mar 13, 2024 to Mar 30, 2025
RAUM · $64.8M to $74.8M
Mar 13, 2024 to Mar 30, 2025
Accounts · 386 to 409
Jul 10, 2023 to Mar 13, 2024
Advisory activities · 2 to 3
Jul 10, 2023 to Mar 13, 2024
Business name · N•••• W•••• A•••• M••••••••• L•• to N•••• W•••• W••••• M•••••••••
Jul 10, 2023 to Mar 13, 2024
HNW clients · 12 to 10
Jul 10, 2023 to Mar 13, 2024
Individual clients · 144 to 137
Jul 10, 2023 to Mar 13, 2024
Discretionary RAUM · $52.6M to $64.8M
Jul 10, 2023 to Mar 13, 2024
HNW RAUM · $18.1M to $20.7M
Jul 10, 2023 to Mar 13, 2024
Individual RAUM · $33.2M to $42.1M
Jul 10, 2023 to Mar 13, 2024
Non-discretionary RAUM · $437,031 to $0
Jul 10, 2023 to Mar 13, 2024
RAUM · $53.0M to $64.8M
Jul 10, 2023 to Mar 13, 2024
Accounts · 397 to 386
Oct 14, 2022 to Mar 27, 2023
Individual clients · 169 to 144
Oct 14, 2022 to Mar 27, 2023
Assets in custody · $9.9M to $9.8M
Oct 14, 2022 to Mar 27, 2023
Discretionary RAUM · $48.5M to $52.6M
Oct 14, 2022 to Mar 27, 2023
HNW RAUM · $20.0M to $18.1M
Oct 14, 2022 to Mar 27, 2023
Individual RAUM · $29.0M to $33.2M
Oct 14, 2022 to Mar 27, 2023
Non-discretionary RAUM · $643,077 to $437,031
Oct 14, 2022 to Mar 27, 2023
RAUM · $49.2M to $53.0M
Oct 14, 2022 to Mar 27, 2023
Accounts · 372 to 397
Sep 2, 2021 to Mar 29, 2022
Advisory employees · 3 to 2
Sep 2, 2021 to Mar 29, 2022
HNW clients · 11 to 12
Sep 2, 2021 to Mar 29, 2022
Individual clients · 158 to 169
Sep 2, 2021 to Mar 29, 2022
Assets in custody · $9.5M to $9.9M
Sep 2, 2021 to Mar 29, 2022

Signals

1 dated events

N•••• W•••• A•••• M••••••••• L•• filed its initial SEC registration (Form ADV)
Mar 27, 2019 · 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/north-woods-asset-managementreportedpublic record, Form ADV, Sep 21, 2026
Website: N••••-W••••.COMreportedpublic record, Form ADV, Sep 21, 2026
Principal office phone: 716.220.8497reportedpublic record, Form ADV, Mar 14, 2026
Contact form: n•••••••••.comreportedpublished by the firm, firm site, Sep 17, 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: $75.2Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026