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

Esi Financial Advisors

Independent wealth managerMontpelier, VermontCRD 265SEC 801-41722websiteIAPD
Legal name Equity Services, Inc.
Latest filing Jul 1, 2026
First filing on the tape Nov 22, 2011 · 91 filings
SEC status approved since Jul 9, 1992
RAUM
$2.8B
reported, Item 5.F
Discretionary
41%
of RAUM
Private clients
95%
$2.6B individuals and HNW
Advisors
507
registered through the firm on IAPD
RAUM per advisor
$5.5M
derived; firm RAUM over IAPD count
Employees
500
460 advisory (5.B.1)
Offices
257
beyond the principal office
Private funds
0
reported on Schedule D
History
91 filings and snapshots on the tape
RAUM$2.8B as of Jul 1, 2026
Mar 30, 2012$728M then
HNW client RAUM$1.2B as of Jul 1, 2026
Mar 30, 2018$458M then
State-registered IARs (5.B.3)495 as of Jul 1, 2026
Mar 28, 2013220 then
Employees (5.A)500 as of Jul 1, 2026
Mar 28, 2013360 then
Private funds: no history
RAUM +31% over the last fiscal year+14% a year over threeIARs 450 to 495offices 230 to 257
Practice profile
derived from the filing of Jul 1, 2026; every figure names its basis
Archetypes, each a printed rule
  • Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
  • Multi-office growth platform · an independent wealth manager (not a wirehouse, national broker-dealer RIA or broker-dealer affiliated firm) with at least five offices, at least 50 advisors, and RAUM up at least 20 percent over the last annual amendment
  • Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
  • Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
RAUM per advisor
$5.5MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
24derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$397,232derivedHNW RAUM over HNW clients
Average account
$224,360derivedRAUM over accounts (5.F.2.f)
Discretionary
41%derivedof RAUM
Institutional
3.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.0derivedItem 5.A over advisors
Advisors per office
2.0derived258 offices incl. principal (1.F.5)
RAUM growth, one year
+31%derivedbetween the last two annual amendments
Advisor growth, one year
+10%derivedItem 5.B.3 between annual amendments
Client growth, one year
+6.1%derived
Compensation
percentage of assets, hourly, fixed fees, commissionsreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, pension consulting, selection of other advisers, educational seminarsreportedItem 5.G
Wrap fee program
$2.5BreportedItem 5.I
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)
  • marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$1.4B52%
  • High-net-worth individuals$1.2B43%
  • Pension and profit-sharing plans$93.1M3.4%
  • Corporations and businesses$42.3M1.5%
  • Charitable organizations$1.2M0.0%
Individual clients
8,856reported
HNW clients
3,041reported
Pension plan clients
375reported
Charitable clients
4reported
Accounts
12,379reported
Financial planning clients
251-500reported
Wrap fee programs
$1.4B sponsored, $0 managedreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourly, commissionsreported
Class basis
private_client_share=0.95 fund_share=0.0 institutional_share=0.03 related_bd=false related_bank=false bd_reps=470.0derived
Advisors registered through the firm
507 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Daniel Alan SoudBoca Raton, Fl Jul 30, 199244 y0
Bert Henry LivingstonBoca Raton, Fl Jul 30, 199241 y0
Meredith Trott AugustoniChartered Financial ConsultantColchester, Vt Feb 6, 199650 y0
Charles Vincent CreightonChartered Financial ConsultantMedia, PaJan 7, 199744 y0
Rich W KellyPortland, Or Aug 22, 199741 y0
Alan Jerome FishmanCertified Financial PlannerMedia, Pa Mar 5, 199934 y0
Todd Franklin HearpRoanoke, Va Mar 9, 199937 y0
John Franklin VittChartered Financial ConsultantChicago, Il Apr 15, 199951 y0
Donald Rodger BoisvertChartered Financial ConsultantColchester, Vt Jun 10, 199942 y0
John Charles MaffeBoca Raton, Fl Jun 22, 199931 y0
Edgar Parsons RobertsChartered Financial ConsultantWinston Salem, Nc Feb 11, 200042 y0
Alexander Sands SmithWinston Salem, Nc Feb 29, 200036 y0
Michael Allen GossOverland Park, Ks May 1, 200045 y0
James Rick KirbyChartered Financial ConsultantCharlotte, Nc Jun 21, 200041 y0
Steven Alan SimonChartered Financial ConsultantBeverly Hills, Ca Nov 30, 200035 y0
Michael Thomas StoneChartered Financial ConsultantChicago, IlJan 16, 200140 y0
Matthew Stanley LempaChartered Financial ConsultantMedia, PaMar 7, 200126 y0
Robert Eugene ThompsonChartered Financial ConsultantLincoln, Ne Jun 8, 200152 y0
Gary Tucker GossChartered Financial ConsultantOverland Park, Ks Jun 11, 200151 y0
Marsha Louise TellesboBellevue, Wa Nov 28, 200146 y0
Scott Patrick MaitlandCertified Financial Planner, Chartered Financial ConsultantMontpelier, Vt Dec 21, 200133 y0
G. David NolanChartered Financial ConsultantChicago, IlJan 2, 200242 y0
Thomas Alden BaileyGlastonbury, CtApr 11, 200226 y0
Hans J. Allen MansethCertified Financial PlannerPortland, Or May 28, 200224 y0
Martin Ira TrehubGlastonbury, Ct Jul 2, 200239 y0
William Tyler HinmanClifton Park, Ny Aug 8, 200229 y0
Scott Michael LevinCertified Financial PlannerTimonium, MdSep 18, 200232 y0
Barry Amos TeagueChartered Financial ConsultantCharlotte, NcOct 8, 200249 y0
Richard HarrisRed Bank, NjOct 24, 200225 y0
Barry Edward WirtChartered Financial ConsultantRoanoke, VaOct 30, 200242 y0
Hillory Purvis BurkettCertified Financial PlannerSandy Springs, Ga Feb 24, 200339 y0
John Walton PossSandy Springs, Ga Mar 3, 200338 y0
Daniel Earl WolodkiewiczCertified Financial PlannerMontpelier, Vt Mar 19, 200327 y1
Thomas Michael KasprzakColchester, Vt Apr 2, 200333 y0
Mark VoskChartered Financial ConsultantSandy Springs, Ga Apr 11, 200328 y0
John Thompson RickeltonCharlotte, NcApr 28, 200341 y0
Michelle Prairie LawrencePersonal Financial SpecialistColchester, VtMay 16, 200323 y0
Robert Nicholas BoswellMedia, PaJan 22, 200424 y0
Craig Eric BermanHunt Valley, Md Jun 22, 200427 y1
Daniel Francis RandallMontpelier, VtJul 2, 200429 y0
All 507 advisors at Esi Financial Advisors
Advisor movement
36 left, 55 joined in 12 months
net +19 in 12 months9 left in 90 days9 joined in 90 daysdeparture rate 7.1% of current headcount120 left over 36 months
Left, latest
Joined, latest
Teams: two or more advisors moving together within fourteen days, from one state
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • Mehran Assadi · Director & Chairman Of The Boardcontrol
    since 02/2008 · owns less than 5%
  • Ataollah Azarshahi · President & Ceocontrol
    since 08/2020 · owns less than 5%
  • Robert Earl Cotton · Directorcontrol
    since 06/2010 · owns less than 5%
  • Alex Marcus David · President & Ceo Officer And Treasurercontrol
    since 12/2025 · owns less than 5%
  • Rebecca Nassar Dunne · Directorcontrol
    since 07/2022 · owns less than 5%
  • Robert Franklin · Svp, Compliance & Ccocontrol
    since 09/2023 · owns less than 5%
  • Matthew Frazee · Directorcontrol
    since 11/2020 · owns less than 5%
  • John Francis Keenan · Svp, Business Developmentcontrol
    since 05/2022 · owns less than 5%
  • Eric Keith Kucinskas · Vp, Finop & Treasurercontrol
    since 03/2022 · owns less than 5%
  • Brian Wilbur Nelson · Vp, Business Developmentcontrol
    since 02/2026 · owns less than 5%
  • Gregory Dwight Teese · Svp, Operations, Coocontrol
    since 04/2019 · owns less than 5%
  • Carrie Ann Fox · Vp, Finop
    since 11/2025 · owns less than 5%
  • Ian Andrew Mckenny · Vp, Chief Counsel & Secretary
    since 05/2007 · owns less than 5%
  • Rebecca Palmer · Chief Information Security Officer
    since 03/2021 · owns less than 5%
Entity owners
  • Nlv Financial Corporation · Shareholder
    direct · owns 75% or more
  • National Life Holding Company · Shareholder
    indirect · owns 75% or more of Nlv Financial Corporation
Related persons
Schedule D 7.A
  • Catamount Reinsurance Company
    real estaten
  • Life Insurance Company Of The Southwest
    real estaten
  • Longhorn Reinsurance Company
    real estaten
  • National Life Distribution, LLC
    real estaten
  • National Life Insurance Company
    real estaten
  • Nlg Capital LLC
    investment advisernRAUM $47B
Advisers that list Esi Financial Advisors as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Montpelier, Vt · principal8571
Colchester, Vt6061
Chicago, Il43123
Red Bank, Nj4031
Hauppauge, Ny3781
Roanoke, Va35123
Media, Pa3221
Latham, Ny28541
New York, Ny2531
Sandy Springs, Ga2351
Melville, Ny1920
Boca Raton, Fl1921
Charlotte, Nc1812
Timonium, Md1821
Addison, Tx1830
Clifton Park, Ny1420
Roseland, Nj1300
Irvine, Ca1240
Fairfax, Va1130
South Jordan, Ut930
Offices
Schedule D 1.F, the 25 largest
  • Hauppauge, NY40 employees
  • Latham, NY37 employees
  • Chicago, IL36 employees
  • Media, PA32 employees
  • Red Bank, NJ30 employees
  • Clifton Park, NY27 employees
  • Atlanta, GA27 employees
  • Colchester, VT21 employees
  • Glastonbury, CT16 employees
  • New York, NY14 employees
  • Timonium, MD14 employees
  • Columbus, OH11 employees
  • Roanoke, VA10 employees
  • Charlotte, NC10 employees
  • Southlake, TX9 employees
  • Melville, NY7 employees
  • Winston-Salem, NC7 employees
  • Jacksonville, FL7 employees
  • Troy, MI6 employees
  • Boca Raton, FL6 employees
  • Roseland, NJ5 employees
  • Irvine, CA5 employees
  • Beverly Hills, CA2 employees
  • Pittsford, NY2 employees
  • Manchester, NH1 employees
ADV anomalies
6 against comparable advisers; where to look, not conclusions
  • control person changedChange between filings · filing Jul 1, 2026
    DAVID, ALEX MARCUS (PRESIDENT & CEO OFFICER AND TREASURER) appeared on Schedule A between the filings of 2023-10-17 and 2026-07-01
    peers: independent wealth managers, $1B to $5B (1,360)
  • control person changedChange between filings · filing Jul 1, 2026
    NELSON, BRIAN WILBUR (VP, BUSINESS DEVELOPMENT) appeared on Schedule A between the filings of 2023-10-17 and 2026-07-01
    peers: independent wealth managers, $1B to $5B (1,360)
  • control person changedChange between filings · filing Jul 1, 2026
    KEENAN, JOHN FRANCIS (SVP, BUSINESS DEVELOPMENT) left Schedule A between the filings of 2023-10-17 and 2026-07-01
    peers: independent wealth managers, $1B to $5B (1,360)
  • control person changedChange between filings · filing Jul 1, 2026
    FRANKLIN, ROBERT (SVP, COMPLIANCE & CCO) left Schedule A between the filings of 2023-10-17 and 2026-07-01
    peers: independent wealth managers, $1B to $5B (1,360)
  • control person changedChange between filings · filing Jul 1, 2026
    KUCINSKAS, ERIC KEITH (VP, FINOP & TREASURER) left Schedule A between the filings of 2023-10-17 and 2026-07-01
    peers: independent wealth managers, $1B to $5B (1,360)
  • control person changedChange between filings · filing Jul 1, 2026
    AZARSHAHI, ATAOLLAH (PRESIDENT & CEO) left Schedule A between the filings of 2023-10-17 and 2026-07-01
    peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
  • Accounts · 12,116 to 12,379
    Jan 26, 2026 to Mar 30, 2026
  • Advisory employees · 430 to 460
    Jan 26, 2026 to Mar 30, 2026
  • BD registered reps · 455 to 470
    Jan 26, 2026 to Mar 30, 2026
  • Corporate clients · 42 to 103
    Jan 26, 2026 to Mar 30, 2026
  • HNW clients · 2,919 to 3,041
    Jan 26, 2026 to Mar 30, 2026
  • Individual clients · 8,860 to 8,856
    Jan 26, 2026 to Mar 30, 2026
  • Pension plan clients · 291 to 375
    Jan 26, 2026 to Mar 30, 2026
  • Employees · 470 to 500
    Jan 26, 2026 to Mar 30, 2026
  • Financial planning clients · 101-250 to 251-500
    Jan 26, 2026 to Mar 30, 2026
  • State-registered IARs · 470 to 495
    Jan 26, 2026 to Mar 30, 2026
  • Discretionary RAUM · $527M to $1.1B
    Jan 26, 2026 to Mar 30, 2026
  • HNW RAUM · $1.1B to $1.2B
    Jan 26, 2026 to Mar 30, 2026
  • Individual RAUM · $1.3B to $1.4B
    Jan 26, 2026 to Mar 30, 2026
  • Non-discretionary RAUM · $1.9B to $1.6B
    Jan 26, 2026 to Mar 30, 2026
  • Pension RAUM · $69.5M to $93.1M
    Jan 26, 2026 to Mar 30, 2026
  • RAUM · $2.5B to $2.8B
    Jan 26, 2026 to Mar 30, 2026
  • Wrap assets (sponsor) · $565M to $1.4B
    Jan 26, 2026 to Mar 30, 2026
  • Financial planning clients · 101-250 to 101-250
    Jun 19, 2025 to Jul 23, 2025
  • Accounts · 11,558 to 12,116
    Jan 30, 2025 to May 1, 2025
  • Advisory employees · 420 to 430
    Jan 30, 2025 to May 1, 2025
  • BD registered reps · 440 to 455
    Jan 30, 2025 to May 1, 2025
  • Corporate clients · 50 to 42
    Jan 30, 2025 to May 1, 2025
  • HNW clients · 2,659 to 2,919
    Jan 30, 2025 to May 1, 2025
  • Individual clients · 8,556 to 8,860
    Jan 30, 2025 to May 1, 2025
  • Pension plan clients · 289 to 291
    Jan 30, 2025 to May 1, 2025
  • Employees · 450 to 470
    Jan 30, 2025 to May 1, 2025
  • State-registered IARs · 450 to 470
    Jan 30, 2025 to May 1, 2025
  • Other offices · 230 to 257
    Jan 30, 2025 to May 1, 2025
  • Discretionary RAUM · $637M to $527M
    Jan 30, 2025 to May 1, 2025
  • HNW RAUM · $885M to $1.1B
    Jan 30, 2025 to May 1, 2025
  • Individual RAUM · $1.2B to $1.3B
    Jan 30, 2025 to May 1, 2025
  • Non-discretionary RAUM · $1.5B to $1.9B
    Jan 30, 2025 to May 1, 2025
  • Pension RAUM · $64.2M to $69.5M
    Jan 30, 2025 to May 1, 2025
  • RAUM · $2.1B to $2.5B
    Jan 30, 2025 to May 1, 2025
  • Wrap assets (sponsor) · $386M to $565M
    Jan 30, 2025 to May 1, 2025
  • Accounts · 11,317 to 11,558
    Oct 17, 2023 to Apr 1, 2024
  • Charity clients · 5 to 4
    Oct 17, 2023 to Apr 1, 2024
  • Corporate clients · 51 to 50
    Oct 17, 2023 to Apr 1, 2024
  • HNW clients · 2,575 to 2,659
    Oct 17, 2023 to Apr 1, 2024
  • Individual clients · 8,410 to 8,556
    Oct 17, 2023 to Apr 1, 2024
Signals
60 dated events
  • Joseph Charles Tuzzolo no longer holds an investment adviser registration (last listed at Esi Financial Advisors on the 2026-09-15 feed)
    Sep 15, 2026 · Advisor registration ended · derived
  • Tira Lee Clement left Esi Financial Advisors for Cetera Investment Advisers Llc (registered 2026-08-20)
    Aug 24, 2026 · Advisor changed firm · fact
  • Michael Anthony Ragusa left Esi Financial Advisors for Lpl Financial Llc (registered 2026-08-06)
    Aug 5, 2026 · Advisor changed firm · fact
  • Courtney Allison Coombs left Esi Financial Advisors for Mml Investors Services, Llc (registered 2026-08-11)
    Aug 3, 2026 · Advisor changed firm · fact
  • Michael Eric Dugan left Esi Financial Advisors for Vanguard Advisers, Inc. (registered 2026-09-09)
    Jul 28, 2026 · Advisor changed firm · fact
  • Jeffrey Thomas Gue left Esi Financial Advisors for Raymond James Financial Services Advisors, Inc (registered 2026-07-24)
    Jul 24, 2026 · Advisor changed firm · fact
  • Christopher John Lindsley left Esi Financial Advisors for Allstate Financial Advisors, Llc (registered 2026-07-10)
    Jun 26, 2026 · Advisor changed firm · fact
  • Jessica Marie Istchenko left Esi Financial Advisors for Lpl Financial Llc (registered 2026-06-26)
    Jun 26, 2026 · Advisor changed firm · fact
  • Steven Michael Cellen left Esi Financial Advisors for Lpl Financial Llc (registered 2026-06-24)
    Jun 25, 2026 · Advisor changed firm · fact
  • 2 advisors left Esi Financial Advisors (Latham, NY) for LPL Financial LLC a day apart
    Jun 25, 2026 · Team lift-out · derived
  • Rodney Barnard Cooper left Esi Financial Advisors for R. Cooper Investments (registered 2026-06-22)
    Jun 18, 2026 · Advisor changed firm · fact
  • Ryan Appelhans left Esi Financial Advisors for Park Avenue Securities Llc (registered 2026-08-25)
    Jun 17, 2026 · Advisor changed firm · fact
  • Thomas Villalobos left Esi Financial Advisors for John Hancock Personal Financial Services, Llc (registered 2026-06-09)
    May 26, 2026 · Advisor changed firm · fact
  • Christopher Todd Chilcoat left Esi Financial Advisors for Mml Investors Services, Llc (registered 2026-06-29)
    May 18, 2026 · Advisor changed firm · fact
  • Rafael Menna Barreto Gregori left Esi Financial Advisors for Td Private Client Wealth Llc (registered 2026-05-13)
    May 14, 2026 · Advisor changed firm · fact
  • Sadie Skadron left Esi Financial Advisors for Mml Investors Services, Llc (registered 2026-05-18)
    Apr 24, 2026 · Advisor changed firm · fact
  • Laura Beninato left Esi Financial Advisors for Mml Investors Services, Llc (registered 2026-05-14)
    Apr 24, 2026 · Advisor changed firm · fact
  • Alana Kay Davis left Esi Financial Advisors for Prospera Financial Services, Inc. (registered 2026-03-27)
    Mar 30, 2026 · Advisor changed firm · fact
  • Christopher Daniel Marino left Esi Financial Advisors for Tlg Advisors, Inc. (registered 2026-03-16)
    Mar 19, 2026 · Advisor changed firm · fact
  • Charles Ashley Girling left Esi Financial Advisors for Vanguard Advisers, Inc. (registered 2026-04-17)
    Mar 5, 2026 · Advisor changed firm · fact
  • Randall K Calloway left Esi Financial Advisors for Lpl Enterprise, Llc (registered 2026-03-03)
    Mar 3, 2026 · Advisor changed firm · fact
  • Demond Lee Bolden left Esi Financial Advisors for Lpl Enterprise, Llc (registered 2026-03-02)
    Mar 3, 2026 · Advisor changed firm · fact
  • 2 advisors left Esi Financial Advisors (Lynchburg, VA) for LPL Enterprise, LLC on the same day
    Mar 3, 2026 · Team lift-out · derived
  • Ryan Anthony Colatrella left Esi Financial Advisors for Mml Investors Services, Llc (registered 2026-02-23)
    Feb 18, 2026 · Advisor changed firm · fact
  • Rodney Russell Kee left Esi Financial Advisors for Lpl Financial Llc (registered 2026-02-18)
    Feb 17, 2026 · Advisor changed firm · fact
  • Brooks Lucien Benton Jewett left Esi Financial Advisors for Hanover Square Wealth Advisors Llc (registered 2026-04-02)
    Feb 13, 2026 · Advisor changed firm · fact
  • Donald Allison left Esi Financial Advisors for Spc (registered 2026-03-02)
    Feb 11, 2026 · Advisor changed firm · fact
  • David Clay Rouse left Esi Financial Advisors for Lpl Financial Llc (registered 2026-02-10)
    Feb 11, 2026 · Advisor changed firm · fact
  • 2 advisors left Esi Financial Advisors (Prosper, TX) for LPL Financial LLC within 6 days
    Feb 11, 2026 · Team lift-out · derived
  • Paul Jacob Howland left Esi Financial Advisors for Civitas Financial Llc (registered 2026-02-10)
    Jan 13, 2026 · 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.
How to reach
public business contact points only, each with its source
Business phone
800-344-7437reportedpublished by the firm, firm site, Sep 16, 2026
Firm profile
LINKEDIN.COM/COMPANY/EQUITY-SERVICES-INCreportedpublic record, Form ADV, Sep 17, 2026
Website
EQUITY-SERVICES.COMreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone
800-344-7437reportedpublic record, Form ADV, Jul 1, 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
$5.5Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026