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.
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SEC-registered adviser
M•••• A•••••••• L••
Latest filing Feb 23, 2026
First filing on the tape Jan 29, 2018 · 16 filings
SEC status approved since Mar 1, 2018
RAUM
$601M
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
100%
$601M individuals and HNW
Advisors
4
registered through the firm on IAPD
RAUM per advisor
$150M
derived; firm RAUM over IAPD count
Employees
8
5 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
16 filings and snapshots on the tape
RAUM$601M as of Feb 23, 2026
Jan 30, 2019$214M then
HNW client RAUM$527M as of Feb 23, 2026
Jan 30, 2019$137M then
State-registered IARs (5.B.3)4 as of Feb 23, 2026
Jan 30, 20192 then
Employees (5.A)8 as of Feb 23, 2026
Jan 30, 20195 then
Private funds: no history
RAUM +17% over the last fiscal year+20% a year over threeIARs 4 to 4
Practice profile
derived from the filing of Feb 23, 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
- $150MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 87derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.3MderivedHNW RAUM over HNW clients
- Average account
- $400,713derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 99%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.0derivedItem 5.A over advisors
- Advisors per office
- 4.0derived1 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
- +12%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
- $97.9M, 130 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)
- compensates non-employees for client referrals (8.G.2)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$527M88%
- Individuals$74.1M12%
- Individual clients
- 184reported
- HNW clients
- 162reported
- Pension plan clients
- 1reported
- Charitable clients
- n/areported
- Accounts
- 1,500reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $97.9M for 130 clientsreported
- Compensation
- % of AUM, 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
4 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| K••• K••••••• H•••••••Chartered Financial Analyst | Excelsior, Mn | Mar 1, 2018 | 17 y | 1 |
| T•• M•••••• W••••Certified Financial Planner | Excelsior, Mn | Mar 1, 2018 | 41 y | 1 |
| M••••••• L•••• S••••••Certified Financial Planner | Excelsior, Mn | Jan 27, 2021 | 10 y | 0 |
| P•••• M•••••• W•••• | Excelsior, Mn | Nov 14, 2024 | 11 y | 0 |
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
- R••• M•••••• P•••••••• to N•••••••• P•••••••• L••Sep 30, 2021 · RIA to RIA
Joined, latest
- R••• M•••••• P•••••••• from S••••••• G•••• L••Dec 9, 2019 · RIA to RIA
- K••• K••••••• H••••••• from L•• F•••••••• L••Mar 1, 2018 · RIA to a newly registered adviser
- T•• M•••••• W•••• from L•• F•••••••• L••Mar 1, 2018 · RIA to a newly registered adviser
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from L•• F•••••••• L••Apr 9, 2018 · Excelsior, Mn
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- W••••• T••• M•••••• · Managing Member & Chief Compliance Officercontrolsince 03/2018 · owns 50% to 75%
- H•••••••• K•••• K••••••• · Member & Chief Investment Officersince 01/2017 · owns 25% to 50%
- S••••••• M•••••••• L•••• · Membersince 01/2024 · owns 5% to 10%
- W••••• P••••• M•••••• · Membersince 01/2024 · 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 |
|---|---|---|---|---|---|
| Excelsior, Mn · principal | 4 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 1,417 to 1,500Oct 23, 2025 to Feb 23, 2026
- Advisory employees · 4 to 5Oct 23, 2025 to Feb 23, 2026
- HNW clients · 150 to 162Oct 23, 2025 to Feb 23, 2026
- Individual clients · 159 to 184Oct 23, 2025 to Feb 23, 2026
- Assets in custody · $194M to $97.9MOct 23, 2025 to Feb 23, 2026
- Employees · 7 to 8Oct 23, 2025 to Feb 23, 2026
- Discretionary RAUM · $502M to $593MOct 23, 2025 to Feb 23, 2026
- HNW RAUM · $418M to $527MOct 23, 2025 to Feb 23, 2026
- Individual RAUM · $91.9M to $74.1MOct 23, 2025 to Feb 23, 2026
- Non-discretionary RAUM · $12.2M to $8.3MOct 23, 2025 to Feb 23, 2026
- Pension RAUM · $3.9M to $0Oct 23, 2025 to Feb 23, 2026
- RAUM · $514M to $601MOct 23, 2025 to Feb 23, 2026
- Financial planning clients · 0 to 0Mar 20, 2025 to Oct 23, 2025
- Accounts · 1,339 to 1,417Feb 26, 2024 to Mar 20, 2025
- Advisory employees · 3 to 4Feb 26, 2024 to Mar 20, 2025
- HNW clients · 133 to 150Feb 26, 2024 to Mar 20, 2025
- Individual clients · 184 to 159Feb 26, 2024 to Mar 20, 2025
- Pension plan clients · 2 to 1Feb 26, 2024 to Mar 20, 2025
- Assets in custody · $186M to $194MFeb 26, 2024 to Mar 20, 2025
- Financial planning clients · 1-10 to 0Feb 26, 2024 to Mar 20, 2025
- State-registered IARs · 3 to 4Feb 26, 2024 to Mar 20, 2025
- Discretionary RAUM · $424M to $502MFeb 26, 2024 to Mar 20, 2025
- HNW RAUM · $372M to $418MFeb 26, 2024 to Mar 20, 2025
- Individual RAUM · $60.6M to $91.9MFeb 26, 2024 to Mar 20, 2025
- Non-discretionary RAUM · $7.9M to $12.2MFeb 26, 2024 to Mar 20, 2025
- Pension RAUM · $0 to $3.9MFeb 26, 2024 to Mar 20, 2025
- RAUM · $432M to $514MFeb 26, 2024 to Mar 20, 2025
- Accounts · 1,136 to 1,339Mar 14, 2023 to Feb 26, 2024
- Charity clients · 1.0 to unsetMar 14, 2023 to Feb 26, 2024
- Corporate clients · 1.0 to unsetMar 14, 2023 to Feb 26, 2024
- HNW clients · 132 to 133Mar 14, 2023 to Feb 26, 2024
- Individual clients · 234 to 184Mar 14, 2023 to Feb 26, 2024
- Pension plan clients · 3 to 2Mar 14, 2023 to Feb 26, 2024
- Assets in custody · $146M to $186MMar 14, 2023 to Feb 26, 2024
- Employees · 6 to 7Mar 14, 2023 to Feb 26, 2024
- Financial planning clients · 0 to 1-10Mar 14, 2023 to Feb 26, 2024
- Discretionary RAUM · $338M to $424MMar 14, 2023 to Feb 26, 2024
- HNW RAUM · $294M to $372MMar 14, 2023 to Feb 26, 2024
- Individual RAUM · $46.9M to $60.6MMar 14, 2023 to Feb 26, 2024
- Non-discretionary RAUM · $13.7M to $7.9MMar 14, 2023 to Feb 26, 2024
Signals
1 dated events
- M•••• A•••••••• L•• filed its initial SEC registration (Form ADV)Jan 29, 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
- Business phone
- 877-946-1012reportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 952-946-1000reportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 952-946-1010reportedpublished by the firm, firm site, Sep 17, 2026
- Firm profile
- linkedin.com/company/modus-advisorsreportedpublic record, Form ADV, Sep 18, 2026
- Website
- modusadvisors.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- (952) 946-1000reportedpublic record, Form ADV, Feb 23, 2026
- Contact form
- modusadvisors.com/contact-usreportedpublished by the firm, firm site, Sep 17, 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
- $150Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026