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
Sovereign Asset Management
Legal name The Money Men, Inc.
Latest filing Mar 10, 2026
First filing on the tape Jan 24, 2018 · 19 filings
SEC status approved since Feb 21, 2018
RAUM
$176M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$176M individuals and HNW
Advisors
2
registered through the firm on IAPD
RAUM per advisor
$88.0M
derived; firm RAUM over IAPD count
Employees
2
2 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
19 filings and snapshots on the tape
RAUM$176M as of Mar 10, 2026
May 3, 2018$36.2M then
HNW client RAUM$81.5M as of Mar 10, 2026
May 3, 2018$9.1M then
State-registered IARs (5.B.3)2 as of Mar 10, 2026
May 3, 20182 then
Employees (5.A)2 as of Mar 10, 2026
May 3, 20182 then
Private funds: no history
RAUM +17% over the last fiscal year+22% a year over threeIARs 2 to 2
Practice profile
derived from the filing of Mar 10, 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
- Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
- RAUM per advisor
- $88.0MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 175derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.3MderivedHNW RAUM over HNW clients
- Average account
- $241,415derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 2.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +17%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +3.9%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, selection of other advisersreportedItem 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
- 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)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- compensates persons for client referrals (8.G.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Individuals$94.5M54%
- High-net-worth individuals$81.5M46%
- Individual clients
- 285reported
- HNW clients
- 65reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 729reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
2 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Kenneth William Wolf | Amherst, Ny | Aug 16, 2017 | 36 y | 1 |
| David Joseph Ungaro | Amherst, Ny | Aug 16, 2017 | 36 y | 1 |
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
- Kenneth William Wolf from Next Financial Group, Inc.Aug 16, 2017 · Affiliated broker-dealer or bank to independent RIA
- David Joseph Ungaro from Next Financial Group, Inc.Aug 16, 2017 · Affiliated broker-dealer or bank to independent RIA
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Next Financial Group, Inc.May 22, 2025 · Williamsville, Ny
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Joseph David Ungaro · Co-President, Chief Compliance Officercontrolsince 01/2010 · owns 50% to 75%
- William Kenneth Wolf · Co-Presidentcontrolsince 01/2010 · owns 50% to 75%
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 |
|---|---|---|---|---|---|
| Amherst, Ny · principal | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- business activity changedChange between filings · filing Mar 10, 2026financial planning (Item 5.G.1): no on the filing of 2025-12-06, yes on the filing of 2026-03-10peers: independent wealth managers, $100M to $500M (5,676)
What changed
consecutive filings, newest first
- Accounts · 683 to 729Dec 6, 2025 to Mar 10, 2026
- Advisory activities · 2 to 3Dec 6, 2025 to Mar 10, 2026
- HNW clients · 61 to 65Dec 6, 2025 to Mar 10, 2026
- Individual clients · 276 to 285Dec 6, 2025 to Mar 10, 2026
- Financial planning clients · 1-10 to 0Dec 6, 2025 to Mar 10, 2026
- Discretionary RAUM · $151M to $176MDec 6, 2025 to Mar 10, 2026
- HNW RAUM · $62.5M to $81.5MDec 6, 2025 to Mar 10, 2026
- Individual RAUM · $88.1M to $94.5MDec 6, 2025 to Mar 10, 2026
- RAUM · $151M to $176MDec 6, 2025 to Mar 10, 2026
- BD registered reps · 2 to 0Aug 8, 2025 to Dec 6, 2025
- Insurance-licensed employees · 2 to 0Aug 8, 2025 to Dec 6, 2025
- Financial planning clients · 0 to 1-10Aug 8, 2025 to Dec 6, 2025
- Financial planning clients · 0 to 0Mar 10, 2025 to Aug 8, 2025
- Accounts · 653 to 683Feb 2, 2024 to Mar 10, 2025
- Advisory activities · 1 to 2Feb 2, 2024 to Mar 10, 2025
- HNW clients · 26 to 61Feb 2, 2024 to Mar 10, 2025
- Individual clients · 301 to 276Feb 2, 2024 to Mar 10, 2025
- Discretionary RAUM · $125M to $151MFeb 2, 2024 to Mar 10, 2025
- HNW RAUM · $43.3M to $62.5MFeb 2, 2024 to Mar 10, 2025
- Individual RAUM · $81.7M to $88.1MFeb 2, 2024 to Mar 10, 2025
- RAUM · $125M to $151MFeb 2, 2024 to Mar 10, 2025
- Accounts · 622 to 653Nov 9, 2023 to Feb 2, 2024
- HNW clients · 18 to 26Nov 9, 2023 to Feb 2, 2024
- Individual clients · 270 to 301Nov 9, 2023 to Feb 2, 2024
- Discretionary RAUM · $97.8M to $125MNov 9, 2023 to Feb 2, 2024
- HNW RAUM · $26.1M to $43.3MNov 9, 2023 to Feb 2, 2024
- Individual RAUM · $71.7M to $81.7MNov 9, 2023 to Feb 2, 2024
- RAUM · $97.8M to $125MNov 9, 2023 to Feb 2, 2024
- Accounts · 573 to 622Jun 23, 2022 to Mar 16, 2023
- HNW clients · 24 to 18Jun 23, 2022 to Mar 16, 2023
- Individual clients · 276 to 270Jun 23, 2022 to Mar 16, 2023
- Discretionary RAUM · $108M to $97.8MJun 23, 2022 to Mar 16, 2023
- HNW RAUM · $36.9M to $26.1MJun 23, 2022 to Mar 16, 2023
- Individual RAUM · $71.2M to $71.7MJun 23, 2022 to Mar 16, 2023
- RAUM · $108M to $97.8MJun 23, 2022 to Mar 16, 2023
- Accounts · 552 to 573Mar 14, 2021 to Mar 18, 2022
- HNW clients · 22 to 24Mar 14, 2021 to Mar 18, 2022
- Individual clients · 264 to 276Mar 14, 2021 to Mar 18, 2022
- Discretionary RAUM · $92.0M to $108MMar 14, 2021 to Mar 18, 2022
- HNW RAUM · $29.9M to $36.9MMar 14, 2021 to Mar 18, 2022
Signals
2 dated events
- 2 advisors left Next Financial Group, Inc. (Williamsville, NY) for Sovereign Asset Management on the same dayMay 22, 2025 · Team lift-out · derived
- Sovereign Asset Management filed its initial SEC registration (Form ADV)Jan 24, 2018 · 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
- Principal office phone
- (716) 768-1463reportedpublic record, Form ADV, Mar 10, 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
- $88.0Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026