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
Arbor Financial
Legal name Arbor Financial Planning LLC
Latest filing Mar 13, 2026
First filing on the tape Jun 4, 2024 · 5 filings
SEC status approved since Jul 3, 2024
RAUM
$215M
reported, Item 5.F
Discretionary
94%
of RAUM
Private clients
100%
$215M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
3
2 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
5 filings and snapshots on the tape
RAUM$215M as of Mar 13, 2026
Feb 10, 2025$175M then
HNW client RAUM$207M as of Mar 13, 2026
Feb 10, 2025$164M then
State-registered IARs (5.B.3)2 as of Mar 13, 2026
Feb 10, 20252 then
Employees (5.A)3 as of Mar 13, 2026
Feb 10, 20253 then
Private funds: no history
RAUM +23% over the last fiscal yearIARs 2 to 2
Practice profile
derived from the filing of Mar 13, 2026; every figure names its basis
- RAUM per advisor
- $107MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 36derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.6MderivedHNW RAUM over HNW clients
- Average account
- $377,934derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 94%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.5derivedItem 5.A over advisors
- Advisors per office
- 2.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +23%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +4.3%derived
- Compensation
- fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, otherreportedItem 5.G
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$207M96%
- Individuals$7.5M3.5%
- Individual clients
- 14reported
- HNW clients
- 58reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 568reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- fixedreported
- 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
1 left, 0 joined in 12 months
net -1 in 12 months0 left in 90 days0 joined in 90 days1 left over 36 months
Left, latest
- Irfan Bhabhrawala to Sax Wealth Advisors, LLCJun 9, 2026 · RIA to RIA
Joined, latest
- Irfan Bhabhrawala from Dba Arbor Financial ServicesOct 5, 2015 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Irfan Bhabhrawala · Owner/ Chief Compliance Officercontrolsince 07/2015 · owns 75% or more
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 |
|---|---|---|---|---|---|
| Ann Arbor, Mi · principal | 0 | 0 | 1 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 512 to 568Feb 10, 2025 to Mar 13, 2026
- HNW clients · 53 to 58Feb 10, 2025 to Mar 13, 2026
- Individual clients · 16 to 14Feb 10, 2025 to Mar 13, 2026
- Assets in custody · 59018900.0 to unsetFeb 10, 2025 to Mar 13, 2026
- Custody of client assets · true to falseFeb 10, 2025 to Mar 13, 2026
- Discretionary RAUM · $162M to $201MFeb 10, 2025 to Mar 13, 2026
- HNW RAUM · $164M to $207MFeb 10, 2025 to Mar 13, 2026
- Individual RAUM · $11.6M to $7.5MFeb 10, 2025 to Mar 13, 2026
- Non-discretionary RAUM · $12.9M to $13.7MFeb 10, 2025 to Mar 13, 2026
- RAUM · $175M to $215MFeb 10, 2025 to Mar 13, 2026
- Accounts · 499 to 512Oct 17, 2024 to Feb 10, 2025
- Advisory employees · 1 to 2Oct 17, 2024 to Feb 10, 2025
- HNW clients · 51 to 53Oct 17, 2024 to Feb 10, 2025
- Individual clients · 18 to 16Oct 17, 2024 to Feb 10, 2025
- Assets in custody · unset to 59018900.0Oct 17, 2024 to Feb 10, 2025
- Custody of client assets · false to trueOct 17, 2024 to Feb 10, 2025
- Employees · 2 to 3Oct 17, 2024 to Feb 10, 2025
- Financial planning clients · 51-100 to 51-100Oct 17, 2024 to Feb 10, 2025
- State-registered IARs · 1 to 2Oct 17, 2024 to Feb 10, 2025
- Discretionary RAUM · $153M to $162MOct 17, 2024 to Feb 10, 2025
- HNW RAUM · $156M to $164MOct 17, 2024 to Feb 10, 2025
- Individual RAUM · $11.5M to $11.6MOct 17, 2024 to Feb 10, 2025
- Non-discretionary RAUM · $14.2M to $12.9MOct 17, 2024 to Feb 10, 2025
- RAUM · $167M to $175MOct 17, 2024 to Feb 10, 2025
Signals
3 dated events
- Arbor Financial no longer on the SEC adviser roster (last listed 2026-06-01, RAUM $214.7M)Jul 1, 2026 · Left the SEC roster · derived
- Irfan Bhabhrawala left Arbor Financial for Sax Wealth Advisors, Llc (registered 2026-02-02)Jun 9, 2026 · Advisor changed firm · fact
- Arbor Financial filed its initial SEC registration (Form ADV)Jun 4, 2024 · 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.
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