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

Cross State Financial Group LLC

Independent wealth managerAlbuquerque, New MexicoCRD 282011SEC 801-117843websiteIAPD
Latest filing Apr 24, 2026
First filing on the tape Nov 22, 2019 · 23 filings
SEC status approved since Jan 2, 2020
RAUM
$188M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
91%
$172M individuals and HNW
Advisors
9
registered through the firm on IAPD
RAUM per advisor
$20.9M
derived; firm RAUM over IAPD count
Employees
10
10 advisory (5.B.1)
Offices
7
beyond the principal office
Private funds
0
reported on Schedule D
History
23 filings and snapshots on the tape
RAUM$188M as of Apr 24, 2026
Feb 20, 2020$102M then
HNW client RAUM$68.5M as of Apr 24, 2026
Feb 20, 2020$42.7M then
State-registered IARs (5.B.3)7 as of Apr 24, 2026
Feb 20, 20208 then
Employees (5.A)10 as of Apr 24, 2026
Feb 20, 20209 then
Private funds: no history
RAUM +13% over the last fiscal year+17% a year over threeIARs 9 to 7offices 8 to 7
Practice profile
derived from the filing of Apr 24, 2026; every figure names its basis
Archetypes, each a printed rule
  • Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
RAUM per advisor
$20.9MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
44derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.4MderivedHNW RAUM over HNW clients
Average account
$169,491derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
8.6%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.1derivedItem 5.A over advisors
Advisors per office
1.1derived8 offices incl. principal (1.F.5)
RAUM growth, one year
+13%derivedbetween the last two annual amendments
Advisor growth, one year
-22%derivedItem 5.B.3 between annual amendments
Client growth, one year
-2.9%derived
Compensation
percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, selection of other advisersreportedItem 5.G
Custody
$104M, 191 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
  • Individuals$104M55%
  • High-net-worth individuals$68.5M36%
  • Charitable organizations$14.2M7.5%
  • Pension and profit-sharing plans$1.9M1.0%
Individual clients
345reported
HNW clients
50reported
Pension plan clients
4reported
Charitable clients
7reported
Accounts
1,111reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
$104M for 191 clientsreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.91 fund_share=0.0 institutional_share=0.09 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
8 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Steven Scott IversenAlbuquerque, NmFeb 18, 201646 y4
Danielle Elizabeth MutzAlbuquerque, NmFeb 18, 201622 y1
Christopher Scott DamenLittleton, Co May 12, 201722 y2
Kevin Jay AguasFlagstaff, Az Dec 20, 201824 y4
Michael Anthony BallTempe, Az Apr 6, 202236 y1
Robert CassellaRobertsdale, Al Mar 27, 202439 y1
Forrest MeansCitrus Heights, Ca Dec 11, 202516 y1
Andrew Scott FlackGrand Haven, Mi Jan 1, 202615 y2
Advisor movement
0 left, 2 joined in 12 months
net +2 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 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
  • Scott Steven Iversen · Membercontrol
    since 12/2015 · owns 50% to 75%
  • Elizabeth Danielle Mutz · Managing Member/Chief Compliance Officercontrol
    since 12/2015 · owns 50% to 75%
Related persons
Schedule D 7.A
  • Cross State Tax & Financial, LLC
    insurancen
Advisers that list Cross State Financial Group LLC as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Albuquerque, Nm · principal920
Littleton, Co200
Offices
Schedule D 1.F, the 25 largest
  • Grand Haven, MI1 employees
  • Littleton, CO1 employees
  • Robertsdale, AL1 employees
  • , 1 employees
What changed
consecutive filings, newest first
  • Accounts · 1,028 to 1,111
    Feb 14, 2025 to Mar 30, 2026
  • Advisory employees · 9 to 10
    Feb 14, 2025 to Mar 30, 2026
  • Charity clients · 8 to 7
    Feb 14, 2025 to Mar 30, 2026
  • HNW clients · 38 to 50
    Feb 14, 2025 to Mar 30, 2026
  • Individual clients · 369 to 345
    Feb 14, 2025 to Mar 30, 2026
  • Pension plan clients · 17 to 4
    Feb 14, 2025 to Mar 30, 2026
  • Assets in custody · $74.7M to $104M
    Feb 14, 2025 to Mar 30, 2026
  • Employees · 9 to 10
    Feb 14, 2025 to Mar 30, 2026
  • Insurance-licensed employees · 0 to 1
    Feb 14, 2025 to Mar 30, 2026
  • State-registered IARs · 9 to 7
    Feb 14, 2025 to Mar 30, 2026
  • Other offices · 8 to 7
    Feb 14, 2025 to Mar 30, 2026
  • Discretionary RAUM · $167M to $188M
    Feb 14, 2025 to Mar 30, 2026
  • HNW RAUM · $53.3M to $68.5M
    Feb 14, 2025 to Mar 30, 2026
  • Individual RAUM · $92.8M to $104M
    Feb 14, 2025 to Mar 30, 2026
  • Pension RAUM · $7.2M to $1.9M
    Feb 14, 2025 to Mar 30, 2026
  • RAUM · $167M to $188M
    Feb 14, 2025 to Mar 30, 2026
  • Accounts · 1,060 to 1,028
    Nov 7, 2024 to Feb 14, 2025
  • Charity clients · 7 to 8
    Nov 7, 2024 to Feb 14, 2025
  • Corporate clients · 3.0 to unset
    Nov 7, 2024 to Feb 14, 2025
  • HNW clients · 33 to 38
    Nov 7, 2024 to Feb 14, 2025
  • Individual clients · 372 to 369
    Nov 7, 2024 to Feb 14, 2025
  • Pension plan clients · 7 to 17
    Nov 7, 2024 to Feb 14, 2025
  • Assets in custody · $1.1M to $74.7M
    Nov 7, 2024 to Feb 14, 2025
  • Financial planning clients · 0 to 0
    Nov 7, 2024 to Feb 14, 2025
  • Other offices · 7 to 8
    Nov 7, 2024 to Feb 14, 2025
  • Discretionary RAUM · $145M to $167M
    Nov 7, 2024 to Feb 14, 2025
  • HNW RAUM · $47.8M to $53.3M
    Nov 7, 2024 to Feb 14, 2025
  • Individual RAUM · $81.0M to $92.8M
    Nov 7, 2024 to Feb 14, 2025
  • Pension RAUM · $3.9M to $7.2M
    Nov 7, 2024 to Feb 14, 2025
  • RAUM · $145M to $167M
    Nov 7, 2024 to Feb 14, 2025
  • Pension RAUM · $2.5M to $3.9M
    Dec 15, 2023 to Mar 20, 2024
  • RAUM · $117M to $145M
    Dec 15, 2023 to Mar 20, 2024
  • Related insurance company · false to true
    Dec 15, 2023 to Mar 20, 2024
  • Accounts · 861 to 1,060
    Dec 15, 2023 to Mar 20, 2024
  • BD registered reps · 1 to 0
    Dec 15, 2023 to Mar 20, 2024
  • Corporate clients · 1 to 3
    Dec 15, 2023 to Mar 20, 2024
  • HNW clients · 29 to 33
    Dec 15, 2023 to Mar 20, 2024
  • Individual clients · 367 to 372
    Dec 15, 2023 to Mar 20, 2024
  • Assets in custody · unset to 1073807.0
    Dec 15, 2023 to Mar 20, 2024
  • Custody of client assets · false to true
    Dec 15, 2023 to Mar 20, 2024
Signals
1 dated events
  • Cross State Financial Group Llc filed its initial SEC registration (Form ADV)
    Nov 22, 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
Business phone
505-294-9744reportedpublished by the firm, firm site, Sep 16, 2026
Business phone
800-621-6974reportedpublished by the firm, firm site, Sep 16, 2026
Website
CROSSSTATEFINANCIAL.COMreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone
800-621-6974reportedpublic record, Form ADV, Apr 24, 2026
Contact form
crossstatefinancial.com/contactreportedpublished by the firm, firm site, Sep 16, 2026
Team page
crossstatefinancial.com/meet-the-team-1reportedpublished by the firm, firm site, 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
$20.9Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026