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
Elite Income Advisors, Inc.
Latest filing Mar 27, 2026
First filing on the tape Apr 28, 2025 · 3 filings
SEC status approved since May 29, 2025
RAUM
$213M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$213M individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$35.6M
derived; firm RAUM over IAPD count
Employees
7
6 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
3 filings and snapshots on the tape
RAUM$213M as of Mar 27, 2026
Apr 28, 2025$150M then
HNW client RAUM$128M as of Mar 27, 2026
Apr 28, 2025$55.7M then
State-registered IARs (5.B.3)6 as of Mar 27, 2026
Apr 28, 20258 then
Employees (5.A)7 as of Mar 27, 2026
Apr 28, 20259 then
Private funds: no history
RAUM +42% over the last fiscal yearIARs 8 to 6
Practice profile
derived from the filing of Mar 27, 2026; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- 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
- RAUM per advisor
- $35.6MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 110derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $672,361derivedHNW RAUM over HNW clients
- Average account
- $324,784derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.2derivedItem 5.A over advisors
- Advisors per office
- 3.0derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +42%derivedbetween the last two annual amendments
- Advisor growth, one year
- -25%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +13%derived
- Compensation
- hourly, fixed fees, otherreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, pension consulting, selection of other advisers, educational seminarsreportedItem 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$128M60%
- Individuals$85.6M40%
- Charitable organizations$23,9100.0%
- Individual clients
- 467reported
- HNW clients
- 190reported
- Pension plan clients
- 4reported
- Charitable clients
- 1reported
- Accounts
- 657reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- fixed, hourlyreported
- 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
6 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Prashant Ramesh Sabapathi | Ellicott City, Md | Mar 20, 2017 | 13 y | 2 |
| Nicholas Daniel Innerbichler | Ellicott City, Md | Oct 22, 2020 | 21 y | 8 |
| Connor David Chan Wilson | Ellicott City, Md | Jan 9, 2024 | 11 y | 0 |
| Daniel Warren DipesoCertified Financial Planner | Ellicott City, Md | Oct 25, 2024 | 12 y | 0 |
| Jonathon Louis DefeoCertified Financial Planner | Ellicott City, Md | Jan 13, 2025 | 10 y | 2 |
| Konner Kobie Munn | Ellicott City, Md | Mar 18, 2026 | 13 y | 2 |
Advisor movement
3 left, 1 joined in 12 months
net -2 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 50% of current headcount3 left over 36 months
Left, latest
- Wesley L Lindquist to Bankers Life Advisory Services, Inc.Dec 23, 2025 · RIA to affiliated broker-dealer or bank
- Jason Anthony Koval to Meta Wealth AdvisorySep 26, 2025 · RIA to RIA
- Nicholas Rodney Wells to MML Investors Services, LLCSep 26, 2025 · RIA to affiliated broker-dealer or bank
- Kaitlyn Lauren Manning to Securian Financial Services, Inc.Jul 28, 2021 · RIA to affiliated broker-dealer or bank
Joined, latest
- Konner Kobie Munn from Strategic Advisers LLCMar 18, 2026 · Affiliated broker-dealer or bank to independent RIA
- Jason Anthony Koval from Red Oak Financial GroupJul 2, 2025 · RIA to RIA
- Wesley L Lindquist from LPL Enterprise, LLCMar 11, 2025 · Other
- Jonathon Louis Defeo from Red Oak Financial GroupJan 13, 2025 · RIA to RIA
- Kaitlyn Lauren Manning from MML Investors Services, LLCMay 5, 2021 · Affiliated broker-dealer or bank to independent RIA
- Nicholas Daniel Innerbichler from Horter Investment Management, LLCOct 22, 2020 · RIA to RIA
- Prashant Ramesh Sabapathi from Investment Advisors CorpMar 20, 2017 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Nmn Ozer Culhagil · Presidentcontrolsince 03/2017 · owns 75% or more
- Ramesh Prashant Sabapathi · Chief Compliance Officercontrolsince 03/2017 · owns 10% to 25%
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 |
|---|---|---|---|---|---|
| Ellicott City, Md · principal | 6 | 1 | 3 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
3 against comparable advisers; where to look, not conclusions
- account count collapseChange between filings · filing Mar 27, 2026accounts (Item 5.F.2.f) moved from 1,100.0 to 657.0 (-40.0%) between the annual amendments of 2025-04-28 and 2026-03-27; the peer median change was +5.0% (3688 comparable advisers, 4.0th percentile of changes)peers: independent wealth managers, $100M to $500M (3,688) · 3.8% percentile
- HNW share shiftChange between filings · filing Mar 27, 2026HNW share of RAUM moved from 37.0% to 60.0% between the annual amendments of 2025-04-28 and 2026-03-27peers: independent wealth managers, $100M to $500M (5,676)
- RAUM up 25 %Change between filings · filing Mar 27, 2026RAUM (Item 5.F) moved from $150,103,195 to $213,383,359 (+42.0%) between the annual amendments of 2025-04-28 and 2026-03-27; the peer median change was +15.0% (4551 comparable advisers, 94.0th percentile of changes)peers: independent wealth managers, $100M to $500M (4,551) · 94% percentile
What changed
consecutive filings, newest first
- Accounts · 1,100 to 657Oct 1, 2025 to Mar 27, 2026
- Advisory employees · 8 to 6Oct 1, 2025 to Mar 27, 2026
- HNW clients · 77 to 190Oct 1, 2025 to Mar 27, 2026
- Individual clients · 503 to 467Oct 1, 2025 to Mar 27, 2026
- Pension plan clients · 0 to 4Oct 1, 2025 to Mar 27, 2026
- Employees · 9 to 7Oct 1, 2025 to Mar 27, 2026
- Financial planning clients · 251-500 to 0Oct 1, 2025 to Mar 27, 2026
- State-registered IARs · 8 to 6Oct 1, 2025 to Mar 27, 2026
- Discretionary RAUM · $150M to $213MOct 1, 2025 to Mar 27, 2026
- HNW RAUM · $55.7M to $128MOct 1, 2025 to Mar 27, 2026
- Individual RAUM · $90.9M to $85.6MOct 1, 2025 to Mar 27, 2026
- RAUM · $150M to $213MOct 1, 2025 to Mar 27, 2026
- Advisory activities · 4 to 5Apr 28, 2025 to Oct 1, 2025
Signals
3 dated events
- Wesley L Lindquist left Elite Income Advisors, Inc. for Bankers Life Advisory Services, Inc. (registered 2026-06-09)Dec 23, 2025 · Advisor changed firm · fact
- Nicholas Rodney Wells left Elite Income Advisors, Inc. for Mml Investors Services, Llc (registered 2026-04-01)Sep 26, 2025 · Advisor changed firm · fact
- Jason Anthony Koval left Elite Income Advisors, Inc. for Meta Wealth Advisory (registered 2026-04-20)Sep 26, 2025 · Advisor changed firm · 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
- 443-274-3002reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 443-979-8971reportedpublished by the firm, firm site, Sep 16, 2026
- Firm profile
- linkedin.com/company/elite-income-advisorsreportedpublic record, Form ADV, Sep 17, 2026
- Website
- ELITEINCOMEADVISORS.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 443-274-3002reportedpublic record, Form ADV, Mar 27, 2026
- Contact form
- eliteincomeadvisors.com/contact-usreportedpublished by the firm, firm site, Sep 16, 2026
- Team page
- eliteincomeadvisors.com/about/our-teamreportedpublished 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
- $35.6Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026