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
Cypress Wealth Services, LLC
Latest filing Feb 6, 2026
First filing on the tape Jun 17, 2017 · 53 filings
SEC status approved since Jul 17, 2017
RAUM
$1.3B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
95%
$1.3B individuals and HNW
Advisors
14
registered through the firm on IAPD
RAUM per advisor
$95.7M
derived; firm RAUM over IAPD count
Employees
21
14 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
53 filings and snapshots on the tape
RAUM$1.3B as of Feb 6, 2026
Mar 9, 2018$553M then
HNW client RAUM$1.1B as of Feb 6, 2026
Mar 9, 2018$443M then
State-registered IARs (5.B.3)14 as of Feb 6, 2026
Mar 9, 201810 then
Employees (5.A)21 as of Feb 6, 2026
Mar 9, 201813 then
Private funds: no history
RAUM +39% over the last fiscal year+26% a year over threeIARs 11 to 14
Practice profile
derived from the filing of Feb 6, 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
- RAUM per advisor
- $95.7MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 59derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.2MderivedHNW RAUM over HNW clients
- Average account
- $604,672derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 3.7%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.5derivedItem 5.A over advisors
- Advisors per office
- 7.0derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +39%derivedbetween the last two annual amendments
- Advisor growth, one year
- +27%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +16%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisersreportedItem 5.G
- Custody
- $891M, 679 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)
- has custody of client cash or bank accounts (9.A.1.a)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$1.1B85%
- Individuals$134M10%
- Charitable organizations$50.1M3.7%
- Corporations and businesses$17.9M1.3%
- Individual clients
- 469reported
- HNW clients
- 356reported
- Pension plan clients
- n/areported
- Charitable clients
- 5reported
- Accounts
- 2,215reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $891M for 679 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.95 fund_share=0.0 institutional_share=0.04 related_bd=true related_bank=false bd_reps=7.0derived
Advisors registered through the firm
14 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| David Reeder ThatcherCertified Financial Planner | Palm Desert, Ca | Jul 17, 2017 | 18 y | 4 |
| Penny Elizabeth Salamida | Palm Desert, Ca | Jul 18, 2017 | 28 y | 4 |
| Christian Brad RisenmayCertified Financial Planner | Palm Desert, Ca | Jul 18, 2017 | 24 y | 4 |
| Jason Mccord Nettleton | Palm Desert, Ca | Jul 19, 2017 | 26 y | 1 |
| Stephen Ross Biesinger | Palm Desert, Ca | Jul 19, 2017 | 22 y | 4 |
| Marc Edelman Koven | Palm Desert, Ca | Jul 19, 2017 | 21 y | 4 |
| Clark Steven Penney | Palm Desert, Ca | Jul 19, 2017 | 18 y | 4 |
| Gregory Thomas Frech | Palm Desert, Ca | Jan 18, 2019 | 28 y | 3 |
| Carey Sylvan MccradyCertified Financial Planner | Mesa, Az | May 11, 2023 | 20 y | 2 |
| James Alan Watson | Palos Verdes Estates, Ca | Sep 26, 2024 | 15 y | 2 |
| William Alan Gordon | Burlingame, Ca | Apr 21, 2025 | 11 y | 1 |
| Dermott Gabriel Larkin | Burlingame, Ca | Apr 21, 2025 | 27 y | 1 |
| Bradley Jay AraveCertified Financial Planner | Palm Desert, Ca | Feb 10, 2026 | 18 y | 3 |
| James Michael BrayCertified Financial Planner | Palm Desert, Ca | Feb 16, 2026 | 22 y | 6 |
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 headcount1 left over 36 months
Left, latest
- Leigh Burwell Smith to Insight FoliosMar 4, 2024 · RIA to RIA
- Lisa Diane Beaty to Keystone Private WealthSep 24, 2021 · RIA to RIA
- Michael Reed Mortenson to Keystone Private WealthSep 2, 2021 · RIA to RIA
- Kurt Mortenson to Keystone Private WealthSep 2, 2021 · RIA to RIA
- Christopher Raymond Rick to Keystone Private WealthJun 4, 2021 · RIA to RIA
- Shattuck Franklin Lamm to Keystone Private WealthApr 19, 2021 · RIA to RIA
- Mark William Thatcher to Keystone Private WealthNov 12, 2020 · RIA to RIA
Joined, latest
- James Michael Bray from Steelpeak Wealth, LLCFeb 16, 2026 · RIA to RIA
- Bradley Jay Arave from J.P. Morgan Securities LLCFeb 10, 2026 · Wirehouse to independent RIA
- Dermott Gabriel Larkin from Perigon Wealth Management, LLCApr 21, 2025 · RIA to RIA
- William Alan Gordon from Perigon Wealth Management, LLCApr 21, 2025 · RIA to RIA
- James Alan Watson from Trost Financial PlanningSep 26, 2024 · Other
- Carey Sylvan Mccrady from Watts Gwilliam & Company, LLCMay 11, 2023 · RIA to RIA
- Gregory Thomas Frech from Morgan StanleyJan 18, 2019 · Wirehouse to independent RIA
- Christopher Raymond Rick from Fidelity Personal And Workplace AdvisorsSep 19, 2018 · Affiliated broker-dealer or bank to independent RIA
- Kurt Mortenson from World Equity Group, Inc.May 19, 2018 · Affiliated broker-dealer or bank to independent RIA
- Michael Reed Mortenson from World Equity Group, Inc.May 3, 2018 · Affiliated broker-dealer or bank to independent RIA
- Jason Mccord Nettleton from Strategic Advisers LLCJul 19, 2017 · Affiliated broker-dealer or bank to a newly registered adviser
- Stephen Ross Biesinger from Integrated Wealth Management, Inc.Jul 19, 2017 · Other
- Marc Edelman Koven from Integrated Wealth Management, Inc.Jul 19, 2017 · Other
- Clark Steven Penney from Integrated Wealth Management, Inc.Jul 19, 2017 · Other
- Mark William Thatcher from Integrated Wealth Management, Inc.Jul 18, 2017 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 left for Keystone Private WealthSep 2, 2021 · Palm Desert, Ca
- 2 joined from Perigon Wealth Management, LLCApr 21, 2025 · Burlingame, Ca
- 7 joined from Integrated Wealth Management, Inc.Dec 31, 2017 · Palm Desert, Ca · Firm absorbed
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Ross Stephen Biesinger · Partner & Senior Financial Advisorcontrolsince 06/2017 · owns less than 5%
- Edelman Marc Koven · Chief Compliance Officercontrolsince 06/2017 · owns less than 5%
- Brad Christian Risenmay · Partner & Senior Financial Advisorcontrolsince 06/2017 · owns less than 5%
- Reeder David Thatcher · Partner & Senior Financial Advisorcontrolsince 06/2017 · owns less than 5%
- Ross Stephen Biesinger · Managing Membercontrolsince 07/2014 · owns 75% or more of Cypress Group Wealth Advisors, Inc.
- Brad Christian Risenmay · Managing Membercontrolsince 07/2014 · owns 75% or more of Risenmay, Inc.
- Reeder David Thatcher · Managing Membercontrolsince 07/2014 · owns 75% or more of Second Growth Financial
Entity owners
- Cypress Group Wealth Advisors, · Managing Memberdirect · owns 25% to 50%
- Cypress Group Wealth Advisors, Inc. · Managing Memberdirect · owns 25% to 50%
- Risenmay, Inc. · Managing Memberdirect · owns 25% to 50%
- Second Growth Financial · Managing Memberdirect · owns 25% to 50%
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 |
|---|---|---|---|---|---|
| Palm Desert, Ca · principal | 11 | 2 | 0 | ||
| Burlingame, Ca | 2 | 0 | 0 | ||
| Athens, Ga | 0 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Anchorage, AK1 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- new owner headcount expandsCombination · filing Feb 6, 2026CYPRESS GROUP WEALTH ADVISORS, joined Schedule A on the filing of 2026-02-06; advisors 11.0 to 14.0 between the annual amendments of 2025-04-18 and 2026-02-06peers: independent wealth managers, $1B to $5B (1,360)
- employee count surgeChange between filings · filing Feb 6, 2026employees (Item 5.A) moved from 14.0 to 21.0 (+50.0%) between the annual amendments of 2025-04-18 and 2026-02-06; the peer median change was +4.0% (1050 comparable advisers, 96.0th percentile of changes)peers: independent wealth managers, $1B to $5B (1,050) · 96% percentile
What changed
consecutive filings, newest first
- Accounts · 1,882 to 2,215Sep 30, 2025 to Feb 6, 2026
- Advisory employees · 10 to 14Sep 30, 2025 to Feb 6, 2026
- BD registered reps · 8 to 7Sep 30, 2025 to Feb 6, 2026
- HNW clients · 279 to 356Sep 30, 2025 to Feb 6, 2026
- Individual clients · 432 to 469Sep 30, 2025 to Feb 6, 2026
- Assets in custody · $654M to $891MSep 30, 2025 to Feb 6, 2026
- Employees · 14 to 21Sep 30, 2025 to Feb 6, 2026
- State-registered IARs · 11 to 14Sep 30, 2025 to Feb 6, 2026
- Discretionary RAUM · $966M to $1.3BSep 30, 2025 to Feb 6, 2026
- HNW RAUM · $801M to $1.1BSep 30, 2025 to Feb 6, 2026
- Individual RAUM · $103M to $134MSep 30, 2025 to Feb 6, 2026
- RAUM · $966M to $1.3BSep 30, 2025 to Feb 6, 2026
- Financial planning clients · 0 to 0Apr 18, 2025 to Sep 30, 2025
- Accounts · 1,605 to 1,882Sep 26, 2024 to Feb 25, 2025
- Advisory employees · 11 to 10Sep 26, 2024 to Feb 25, 2025
- Charity clients · 6 to 5Sep 26, 2024 to Feb 25, 2025
- Corporate clients · 5 to 6Sep 26, 2024 to Feb 25, 2025
- HNW clients · 265 to 279Sep 26, 2024 to Feb 25, 2025
- Individual clients · 341 to 432Sep 26, 2024 to Feb 25, 2025
- Assets in custody · $547M to $654MSep 26, 2024 to Feb 25, 2025
- Employees · 16 to 14Sep 26, 2024 to Feb 25, 2025
- Discretionary RAUM · $821M to $966MSep 26, 2024 to Feb 25, 2025
- HNW RAUM · $696M to $801MSep 26, 2024 to Feb 25, 2025
- Individual RAUM · $82.0M to $103MSep 26, 2024 to Feb 25, 2025
- RAUM · $821M to $966MSep 26, 2024 to Feb 25, 2025
- Accounts · 1,485 to 1,605May 19, 2023 to Feb 7, 2024
- Advisory employees · 10 to 11May 19, 2023 to Feb 7, 2024
- Corporate clients · unset to 5.0May 19, 2023 to Feb 7, 2024
- HNW clients · 331 to 265May 19, 2023 to Feb 7, 2024
- Individual clients · 251 to 341May 19, 2023 to Feb 7, 2024
- Assets in custody · $118M to $547MMay 19, 2023 to Feb 7, 2024
- Financial planning clients · 1-10 to 0May 19, 2023 to Feb 7, 2024
- State-registered IARs · 10 to 11May 19, 2023 to Feb 7, 2024
- Discretionary RAUM · $677M to $821MMay 19, 2023 to Feb 7, 2024
- HNW RAUM · $73.7M to $696MMay 19, 2023 to Feb 7, 2024
- Individual RAUM · $565M to $82.0MMay 19, 2023 to Feb 7, 2024
- RAUM · $677M to $821MMay 19, 2023 to Feb 7, 2024
- Accounts · 1,407 to 1,485Dec 9, 2022 to Feb 7, 2023
- Advisory employees · 9 to 10Dec 9, 2022 to Feb 7, 2023
- Advisory activities · 4 to 5Dec 9, 2022 to Feb 7, 2023
Signals
9 dated events
- Cypress Wealth Services, Llc reported RAUM $1.3B, up 39% from $965.5M (2025-09-30 to 2026-02-06)Feb 6, 2026 · RAUM change · derived
- 2 advisors left Perigon Wealth Management, LLC (Burlingame, CA) for Cypress Wealth Services, LLC on the same dayApr 21, 2025 · Team lift-out · derived
- Leigh Burwell Smith left Cypress Wealth Services, Llc for Insight Folios (registered 2024-02-28)Mar 4, 2024 · Advisor changed firm · fact
- William Mark Thatcher (Managing Member) no longer on Schedule A of Cypress Wealth Services, Llc (listed 2023-05-10, absent 2023-05-17)May 17, 2023 · Control person left · inference
- Franklin Shattuck Lamm (Managing Member) no longer on Schedule A of Cypress Wealth Services, Llc (listed 2023-05-10, absent 2023-05-17)May 17, 2023 · Control person left · inference
- Cypress Wealth Services, Llc reported RAUM $714.7M, down 27% from $981.6M (2022-01-25 to 2022-02-01)Feb 1, 2022 · RAUM change · derived
- Steven Clark Penney (Managing Member) no longer on Schedule A of Cypress Wealth Services, Llc (listed 2020-06-16, absent 2020-06-16)Jun 16, 2020 · Control person left · inference
- Cypress Wealth Services, Llc reported RAUM $821.7M, up 31% from $625.1M (2019-09-27 to 2020-02-05)Feb 5, 2020 · RAUM change · derived
- The Cypress Group filed its initial SEC registration (Form ADV)Jun 17, 2017 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- Cypress Wealth Services, LLC · Private Equityshared crd · intermediary
How to reach
public business contact points only, each with its source
- Business phone
- 760-834-7250reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 907-252-2852reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/cypresswealthservicesreportedpublic record, Form ADV, Sep 17, 2026
- Website
- CYPRESSWS.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- (760) 834-7250reportedpublic record, Form ADV, Feb 6, 2026
- Contact form
- cypressws.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- cypressws.com/our-teamreportedpublished by the firm, firm site, Sep 15, 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
- $95.7Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026