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
USA Financial Exchange
Legal name USA Financial Exchange LLC
Latest filing Mar 27, 2026
First filing on the tape Apr 26, 2016 · 24 filings
SEC status approved since May 18, 2016
RAUM
$1.6B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$1.6B individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
38
0 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
24 filings and snapshots on the tape
RAUM$1.6B as of Mar 27, 2026
Mar 29, 2018$220M then
HNW client RAUM$233M as of Mar 27, 2026
Mar 29, 2018$17.6M then
State-registered IARs (5.B.3)26 as of Mar 27, 2026
Apr 13, 201720 then
Employees (5.A)38 as of Mar 27, 2026
Apr 13, 201727 then
Private funds: no history
RAUM +2.1% over the last fiscal year+6.1% a year over threeIARs 26 to 26
Practice profile
derived from the filing of Mar 27, 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
- $62.9MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 395derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $793,974derivedHNW RAUM over HNW clients
- Average account
- $164,066derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%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
- 26.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +2.1%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -95%derived
- Compensation
- otherreportedItem 5.E
- Advisory activities
- selection of other advisers, 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)
- receives research or other products from a broker-dealer, soft dollars (8.E)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Individuals$1.4B86%
- High-net-worth individuals$233M14%
- Individual clients
- 9,971reported
- HNW clients
- 294reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 9,971reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- n/areported
- Class basis
- private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=true related_bank=false bd_reps=26.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
Joined, latest
none on the tape
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Clayton William Bachert · Chief Financial Officercontrolsince 01/2016 · owns less than 5%
- David Brent Enders · President/Managercontrolsince 01/2016 · owns less than 5%
- Robert Mark Mersman · Chief Marketing Officercontrolsince 01/2016 · owns less than 5%
- M Dawn Thomason · Chief Compliance Officercontrolsince 08/2022 · owns less than 5%
- David Michael Walters · Ceocontrolsince 01/2016 · owns less than 5%
- Carroll James Mcconnell · Chief Operations Officersince 11/2021 · owns less than 5%
Entity owners
- USA Financial LLC · Direct Ownerdirect · owns 75% or more
- Accelerate Buyer LLC · Memberindirect · owns 75% or more of Amerilife Holdings LLC
- Accelerate Intermediate Holdings 1 LLC · Memberindirect · owns 75% or more of Accelerate Buyer LLC
- Accelerate Intermediate Holdings 2 LLC · Memberindirect · owns 75% or more of Accelerate Intermediate Holdings 1 LLC
- Accelerate Topco Holdings LLC · Memberindirect · owns 75% or more of Accelerate Intermediate Holdings 2 LLC
- Al Marketing LLC · Memberindirect · owns 75% or more of USA Financial LLC
- Amerilife Blocker Holdings LLC · Memberindirect · owns 25% to 50% of Accelerate Topco Holdings LLC
- Amerilife Group LLC · Memberindirect · owns 75% or more of Al Marketing LLC
- Amerilife Holdings LLC · Memberindirect · owns 75% or more of Amerilife Midco LLC
- Amerilife Midco LLC · Memberindirect · owns 75% or more of Amerilife Group LLC
- Gc Propel Aggregator Gp LLC · General Partnerindirect · owns F of Gc Propel Aggregator LP
- Gc Propel Aggregator LP · Shareholderindirect · owns 25% to 50% of Gc Propel Holdings Inc
- Gc Propel Holdings Inc · Memberindirect · owns 25% to 50% of Accelerate Topco Holdings LLC
- Genstar Capital Partners X LP · Limited Partnerindirect · owns 50% to 75% of Gc Propel Aggregator LP
- Genstar Capital Partners X LP · Memberindirect · owns 75% or more of Gc Propel Aggregator Gp LLC
- Genstar Capital X LP · General Partnerindirect · owns F of Genstar Capital Partners X LP
- Genstar X Gp LLC · General Partnerindirect · owns F of Genstar Capital X LP
- Icg Holiday Partners I LP · Limited Partnerindirect · owns 75% or more of Thl Al Blocked Buyer Feeder LP
- Thl Al Blocked Buyer Feeder LP · Limited Partnerindirect · owns 75% or more of Thl Amerilife Parallel Spv LP
- Thl Amerilife Equity Advisors LLC · General Partnerindirect · owns F of Thl Amerilife Parallel Spv LP
Related persons
Schedule D 7.A
- Brookstone Capital Management LLCinvestment advisernRAUM $13B
- Brookstone Wealth Advisors, LLCinvestment advisern
- Florida Financial Advisors, LLCinvestment advisernRAUM $456M
- Saybrus Equity Services, LLCbroker-dealern
- Trinity Wealth Securities, L.L.C.broker-dealern
- USA Financial Formulas Corporationinvestment advisernRAUM $534M
- USA Financial Securities LLCbroker-dealerinvestment advisernRAUM $297M
Advisers that list USA Financial Exchange as a related person
- 139987 n
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
4 against comparable advisers; where to look, not conclusions
- clients down average size upCombination · filing Mar 27, 2026private clients fell 20 percent or more while RAUM per client rose 30 percent or more: a move up-market or the departure of small accounts. RAUM $1,601,885,578 to $1,635,901,063, advisors 26 to 26, private clients 227815 to 10265, offices 0 to 0 (2025-03-26 to 2026-03-27)peers: independent wealth managers, $1B to $5B (1,360)
- account count collapseChange between filings · filing Mar 27, 2026accounts (Item 5.F.2.f) moved from 227,815.0 to 9,971.0 (-96.0%) between the annual amendments of 2025-03-26 and 2026-03-27; the peer median change was +6.0% (1206 comparable advisers, 0.0th percentile of changes)peers: independent wealth managers, $1B to $5B (1,206) · 0.2% percentile
- client count collapseChange between filings · filing Mar 27, 2026individual and HNW clients (Item 5.D) moved from 227,815.0 to 10,265.0 (-95.0%) between the annual amendments of 2025-03-26 and 2026-03-27; the peer median change was +5.0% (1132 comparable advisers, 0.0th percentile of changes)peers: independent wealth managers, $1B to $5B (1,132) · 0.1% percentile
- control person changedChange between filings · filing Mar 27, 2026ENDERS, BRENT, DAVID (PRESIDENT/MANAGER) left Schedule A between the filings of 2024-08-15 and 2026-03-27peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Accounts · 227,815 to 9,971Sep 22, 2025 to Mar 27, 2026
- HNW clients · 262 to 294Sep 22, 2025 to Mar 27, 2026
- Individual clients · 227,553 to 9,971Sep 22, 2025 to Mar 27, 2026
- Financial planning clients · to 0Sep 22, 2025 to Mar 27, 2026
- Discretionary RAUM · $1.6B to $1.6BSep 22, 2025 to Mar 27, 2026
- HNW RAUM · $208M to $233MSep 22, 2025 to Mar 27, 2026
- Individual RAUM · $1.4B to $1.4BSep 22, 2025 to Mar 27, 2026
- RAUM · $1.6B to $1.6BSep 22, 2025 to Mar 27, 2026
- Accounts · 10,320 to 227,815Sep 26, 2024 to Mar 26, 2025
- Corporate clients · 49.0 to unsetSep 26, 2024 to Mar 26, 2025
- HNW clients · 411 to 262Sep 26, 2024 to Mar 26, 2025
- Individual clients · 9,860 to 227,553Sep 26, 2024 to Mar 26, 2025
- Financial planning clients · unset to Sep 26, 2024 to Mar 26, 2025
- Discretionary RAUM · $1.4B to $1.6BSep 26, 2024 to Mar 26, 2025
- HNW RAUM · $55.3M to $208MSep 26, 2024 to Mar 26, 2025
- Individual RAUM · $1.3B to $1.4BSep 26, 2024 to Mar 26, 2025
- RAUM · $1.4B to $1.6BSep 26, 2024 to Mar 26, 2025
- Legal name · USA FINANCIAL EXCHANGE CORPORATION to USA FINANCIAL EXCHANGE LLCAug 16, 2024 to Aug 19, 2024
- Succession · true to falseAug 16, 2024 to Aug 19, 2024
- Organization form · Corporation to Limited Liability CompanyAug 15, 2024 to Aug 16, 2024
- Succession · false to trueAug 15, 2024 to Aug 16, 2024
- Accounts · 10,870 to 10,320Mar 31, 2023 to Mar 27, 2024
- Corporate clients · unset to 49.0Mar 31, 2023 to Mar 27, 2024
- HNW clients · 435 to 411Mar 31, 2023 to Mar 27, 2024
- Individual clients · 10,435 to 9,860Mar 31, 2023 to Mar 27, 2024
- Financial planning clients · More than 500 to unsetMar 31, 2023 to Mar 27, 2024
- Discretionary RAUM · $1.4B to $1.4BMar 31, 2023 to Mar 27, 2024
- HNW RAUM · $18.5M to $55.3MMar 31, 2023 to Mar 27, 2024
- Individual RAUM · $1.4B to $1.3BMar 31, 2023 to Mar 27, 2024
- RAUM · $1.4B to $1.4BMar 31, 2023 to Mar 27, 2024
- Accounts · 10,140 to 10,870Aug 29, 2022 to Mar 31, 2023
- BD registered reps · 24 to 26Aug 29, 2022 to Mar 31, 2023
- Corporate clients · 71.0 to unsetAug 29, 2022 to Mar 31, 2023
- HNW clients · 219 to 435Aug 29, 2022 to Mar 31, 2023
- Individual clients · 5,266 to 10,435Aug 29, 2022 to Mar 31, 2023
- Employees · 27 to 38Aug 29, 2022 to Mar 31, 2023
- State-registered IARs · 20 to 26Aug 29, 2022 to Mar 31, 2023
- Discretionary RAUM · $1.3B to $1.4BAug 29, 2022 to Mar 31, 2023
- HNW RAUM · $52.3M to $18.5MAug 29, 2022 to Mar 31, 2023
- Individual RAUM · $1.3B to $1.4BAug 29, 2022 to Mar 31, 2023
Signals
10 dated events
- Usa Financial Exchange reported succeeding to the business of Another Adviser (Form ADV Item 4)Aug 16, 2024 · Succession (Item 4) · fact
- H Matthew Eilers (Chief Business Development Officer) no longer on Schedule A of Usa Financial Exchange (listed 2024-04-22, absent 2024-08-15)Aug 15, 2024 · Control person left · inference
- M Dawn Thomason (Chief Compliance Officer) appeared on Schedule A of Usa Financial ExchangeAug 29, 2022 · Control person joined · fact
- Denise Stewart Andrea Mcgrew (Chief Legal Officer/Chief Compliance Officer) no longer on Schedule A of Usa Financial Exchange (listed 2022-03-31, absent 2022-08-18)Aug 18, 2022 · Control person left · inference
- Usa Financial Exchange reported RAUM $1.3B, up 195% from $454.1M (2021-12-09 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- Lee Matthew Mcgrew (Chief Operating Officer) no longer on Schedule A of Usa Financial Exchange (listed 2021-03-30, absent 2021-12-09)Dec 9, 2021 · Control person left · inference
- Usa Financial Exchange reported RAUM $454.1M, up 115% from $210.7M (2020-06-26 to 2021-03-30)Mar 30, 2021 · RAUM change · derived
- Usa Financial Exchange reported RAUM $210.7M, down 59% from $516.7M (2019-04-10 to 2020-04-03)Apr 3, 2020 · RAUM change · derived
- Usa Financial Exchange reported RAUM $516.7M, up 134% from $220.4M (2018-11-28 to 2019-04-10)Apr 10, 2019 · RAUM change · derived
- Usa Financial Exchange filed its initial SEC registration (Form ADV)Apr 26, 2016 · 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
- 888-444-0125reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- USAFINANCIAL.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 888-444-0125reportedpublic record, Form ADV, Mar 27, 2026
- Contact form
- usafinancial.com/contact-usreportedpublished 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
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026