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
Spring Capital Management
Legal name Spring Capital Management, LLC
Latest filing Feb 24, 2026
First filing on the tape Sep 22, 2020 · 15 filings
SEC status approved since Oct 23, 2020
RAUM
$223M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
90%
$200M individuals and HNW
Advisors
2
registered through the firm on IAPD
RAUM per advisor
$112M
derived; firm RAUM over IAPD count
Employees
2
2 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
15 filings and snapshots on the tape
RAUM$223M as of Feb 24, 2026
Jan 25, 2021$127M then
HNW client RAUM$199M as of Feb 24, 2026
Jan 25, 2021$103M then
State-registered IARs (5.B.3)2 as of Feb 24, 2026
Jan 25, 20212 then
Employees (5.A)2 as of Feb 24, 2026
Jan 25, 20212 then
Private funds: no history
RAUM +4.0% over the last fiscal year+17% a year over threeIARs 2 to 2
Practice profile
derived from the filing of Feb 24, 2026; every figure names its basis
Archetypes, each a printed rule
- 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
- Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
- RAUM per advisor
- $112MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 66derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.5MderivedHNW RAUM over HNW clients
- Average account
- $705,830derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 1.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 0.7derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +4.0%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +2.3%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 5.G
- Wrap fee program
- $446MreportedItem 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
- 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)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$199M89%
- Corporations and businesses$19.3M8.7%
- Charitable organizations$3.9M1.8%
- Individuals$1.1M0.5%
- Individual clients
- 54reported
- HNW clients
- 78reported
- Pension plan clients
- 0reported
- Charitable clients
- n/areported
- Accounts
- 316reported
- Financial planning clients
- reported
- Wrap fee programs
- $223M sponsored, $223M managedreported
- Custody of client assets
- noreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.9 fund_share=0.0 institutional_share=0.02 related_bd=false related_bank=false bd_reps=1.0derived
Advisors registered through the firm
2 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Richard Earl Mcelreath | Amarillo, Tx | Apr 19, 2016 | 28 y | 3 |
| Robert Paul Rathbun | Amarillo, Tx | Feb 18, 2017 | 44 y | 3 |
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
- Robert Paul Rathbun from Fortitude Advisory Group L.L.C.Feb 18, 2017 · Other
- Richard Earl Mcelreath from Fortitude Advisory Group L.L.C.Apr 19, 2016 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Fortitude Advisory Group L.L.C.May 31, 2017 · Gig Harbor, Wa
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Earl Richard Mcelreath · President, Director And Ccocontrolsince 08/2008 · owns 75% or more
- Jennifer Mcelreath · Secretarysince 08/2008 · owns 5% to 10%
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 |
|---|---|---|---|---|---|
| Amarillo, Tx · principal | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
What changed
consecutive filings, newest first
- Accounts · 303 to 316Sep 24, 2025 to Feb 24, 2026
- HNW clients · 76 to 78Sep 24, 2025 to Feb 24, 2026
- Individual clients · 53 to 54Sep 24, 2025 to Feb 24, 2026
- Discretionary RAUM · $214M to $223MSep 24, 2025 to Feb 24, 2026
- HNW RAUM · $191M to $199MSep 24, 2025 to Feb 24, 2026
- Individual RAUM · $1.1M to $1.1MSep 24, 2025 to Feb 24, 2026
- RAUM · $214M to $223MSep 24, 2025 to Feb 24, 2026
- Wrap assets (manager) · $214M to $223MSep 24, 2025 to Feb 24, 2026
- Wrap assets (sponsor) · $214M to $223MSep 24, 2025 to Feb 24, 2026
- Accounts · 261 to 303Apr 25, 2024 to Jan 14, 2025
- BD registered reps · 2 to 1Apr 25, 2024 to Jan 14, 2025
- HNW clients · 93 to 76Apr 25, 2024 to Jan 14, 2025
- Individual clients · 33 to 53Apr 25, 2024 to Jan 14, 2025
- Financial planning clients · unset to Apr 25, 2024 to Jan 14, 2025
- Discretionary RAUM · $157M to $214MApr 25, 2024 to Jan 14, 2025
- HNW RAUM · $140M to $191MApr 25, 2024 to Jan 14, 2025
- Individual RAUM · $7.4M to $1.1MApr 25, 2024 to Jan 14, 2025
- RAUM · $157M to $214MApr 25, 2024 to Jan 14, 2025
- Wrap assets (manager) · $157M to $214MApr 25, 2024 to Jan 14, 2025
- Wrap assets (sponsor) · $157M to $214MApr 25, 2024 to Jan 14, 2025
- Other offices · 1 to 2Jan 30, 2024 to Apr 25, 2024
- Accounts · 226 to 261Oct 13, 2023 to Jan 30, 2024
- Advisory activities · 4 to 3Oct 13, 2023 to Jan 30, 2024
- Corporate clients · 6 to 7Oct 13, 2023 to Jan 30, 2024
- HNW clients · 85 to 93Oct 13, 2023 to Jan 30, 2024
- Pension plan clients · unset to 0.0Oct 13, 2023 to Jan 30, 2024
- Discretionary RAUM · $137M to $157MOct 13, 2023 to Jan 30, 2024
- HNW RAUM · $123M to $140MOct 13, 2023 to Jan 30, 2024
- Individual RAUM · $6.7M to $7.4MOct 13, 2023 to Jan 30, 2024
- Non-discretionary RAUM · $1.1M to $0Oct 13, 2023 to Jan 30, 2024
- Pension RAUM · $1.1M to $0Oct 13, 2023 to Jan 30, 2024
- RAUM · $139M to $157MOct 13, 2023 to Jan 30, 2024
- Wrap assets (manager) · $137M to $157MOct 13, 2023 to Jan 30, 2024
- Wrap assets (sponsor) · $137M to $157MOct 13, 2023 to Jan 30, 2024
- Other offices · 0 to 1Jan 24, 2023 to Oct 13, 2023
- Accounts · 214 to 226Jan 26, 2022 to Jan 24, 2023
- Advisory activities · 3 to 4Jan 26, 2022 to Jan 24, 2023
- HNW clients · 82 to 85Jan 26, 2022 to Jan 24, 2023
- Individual clients · 29 to 33Jan 26, 2022 to Jan 24, 2023
- Discretionary RAUM · $152M to $137MJan 26, 2022 to Jan 24, 2023
Signals
1 dated events
- Spring Capital Management filed its initial SEC registration (Form ADV)Sep 22, 2020 · 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
- 806-322-5000reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 888-779-2030reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- SPRINGCAPITALMANAGEMENT.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 806-322-5000reportedpublic record, Form ADV, Feb 24, 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
- $112Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026