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
Benjamin F. Edwards Wealth Management, LLC
Latest filing Mar 31, 2026
First filing on the tape Jul 6, 2018 · 33 filings
SEC status approved since Aug 6, 2018
RAUM
$705M
reported, Item 5.F
Discretionary
64%
of RAUM
Private clients
97%
$685M individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$118M
derived; firm RAUM over IAPD count
Employees
12
6 advisory (5.B.1)
Offices
4
beyond the principal office
Private funds
0
reported on Schedule D
History
33 filings and snapshots on the tape
RAUM$705M as of Mar 31, 2026
Mar 31, 2020$233M then
HNW client RAUM$127M as of Mar 31, 2026
Mar 29, 2019$0 then
State-registered IARs (5.B.3)6 as of Mar 31, 2026
Mar 29, 20194 then
Employees (5.A)12 as of Mar 31, 2026
Mar 29, 20196 then
Private funds: no history
RAUM -21% over the last fiscal year+4.9% a year over threeIARs 14 to 6offices 5 to 4
Practice profile
derived from the filing of Mar 31, 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
- Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
- RAUM per advisor
- $118MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 183derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $9.0MderivedHNW RAUM over HNW clients
- Average account
- $301,950derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 64%derivedof RAUM
- Institutional
- 0.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.0derivedItem 5.A over advisors
- Advisors per office
- 1.2derived5 offices incl. principal (1.F.5)
- RAUM growth, one year
- -21%derivedbetween the last two annual amendments
- Advisor growth, one year
- -57%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -39%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 advisers, educational seminarsreportedItem 5.G
- Wrap fee program
- $705MreportedItem 5.I
- Custody
- $369M, 736 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)
- 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
- Individuals$559M79%
- High-net-worth individuals$127M18%
- Corporations and businesses$18.2M2.6%
- Charitable organizations$1.7M0.2%
- Individual clients
- 1,085reported
- HNW clients
- 14reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 2,336reported
- Financial planning clients
- 0reported
- Wrap fee programs
- $250M sponsored, $0 managedreported
- Custody of client assets
- $369M for 736 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.97 fund_share=0.0 institutional_share=0.0 related_bd=true related_bank=false bd_reps=6.0derived
Advisors registered through the firm
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Derek W LunkaCertified Financial Planner | Six Mile, Sc | May 20, 2019 | 15 y | 0 |
| Kyle Coleman Steele | St. Louis, Mo | Sep 9, 2021 | 10 y | 2 |
| Larry Winford Crosthwaite | St. Louis, Mo | Sep 23, 2021 | 28 y | 3 |
Advisor movement
2 left, 0 joined in 12 months
net -2 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 33% of current headcount5 left over 36 months
Left, latest
- Connor P Dunlop to MarinerApr 24, 2026 · RIA to affiliated broker-dealer or bank
- Blake Robert Dunlop to MarinerApr 24, 2026 · RIA to affiliated broker-dealer or bank
- Ryan Bernard Stephen to Rbs Wealth ManagementSep 10, 2025 · RIA to a newly registered adviser
- Adam Wayne Minor to Rbs Wealth ManagementSep 10, 2025 · RIA to a newly registered adviser
- Kayla Mitchell to Edward JonesAug 22, 2024 · RIA to affiliated broker-dealer or bank
Joined, latest
- Ryan Bernard Stephen from Edward JonesNov 12, 2021 · Affiliated broker-dealer or bank to independent RIA
- Larry Winford Crosthwaite from Robert W. Baird & Co. IncorporatedSep 23, 2021 · RIA to RIA
- Kyle Coleman Steele from Robert W. Baird & Co. IncorporatedSep 9, 2021 · RIA to RIA
- Brian Dale Persson from Wells Fargo AdvisorsMar 10, 2020 · Wirehouse to independent RIA
- Dawn N. Pilipchuk-Kruth from Wells Fargo AdvisorsMar 9, 2020 · Wirehouse to independent RIA
- Nickolas Deane Pilipchuk from Wells Fargo AdvisorsMar 9, 2020 · Wirehouse to independent RIA
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Robert W. Baird & Co. IncorporatedSep 23, 2021 · Lexington, Ky
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Franklin Benjamin Edwards · Directorcontrolsince 06/2018 · owns less than 5%
- M Christopher Keller · Directorcontrolsince 06/2018 · owns less than 5%
- Paul Matthew Muckler · Chief Compliance Officer, Advisorycontrolsince 01/2021 · owns less than 5%
- David Douglas Rubenstein · Directorcontrolsince 06/2018 · owns less than 5%
- R Matthew Salamon · Directorcontrolsince 09/2022 · owns less than 5%
- Joe Billy Wisdom · Directorcontrolsince 06/2018 · owns less than 5%
Entity owners
- Benjamin Edwards, Inc. · Ownerdirect · owns 75% or more
Related persons
Schedule D 7.A
- Benjamin F. Edwards & Company, Incorporatedbroker-dealerinvestment adviserreal estatenRAUM $19B
Advisers that list Benjamin F. Edwards Wealth Management, LLC as a related person
- 146936 n
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| St Louis, Mo | 6 | 0 | 1 | ||
| Lexington, Ky | 2 | 0 | 0 | ||
| Six Mile, Sc | 2 | 0 | 0 | ||
| Alto, Mi | 0 | 0 | 0 | ||
| Whitefish, Mt | 0 | 0 | 1 |
Offices
Schedule D 1.F, the 25 largest
- Lexington, KY5 employees
- Six Mile, SC4 employees
- Waterloo, IA4 employees
- Alto, MI3 employees
- St. Louis, MO2 employees
ADV anomalies
4 against comparable advisers; where to look, not conclusions
- clients down average size upCombination · filing Mar 31, 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 $894,040,381 to $705,354,800, advisors 14 to 6, private clients 1812 to 1099, offices 5 to 4 (2025-03-31 to 2026-03-31)peers: independent wealth managers, $500M to $1B (1,483)
- advisor count dropChange between filings · filing Mar 31, 2026advisory representatives (Item 5.B.3) moved from 14.0 to 6.0 (-57.0%) between the annual amendments of 2025-03-31 and 2026-03-31; the peer median change was 0.0% (795 comparable advisers, 1.0th percentile of changes)peers: independent wealth managers, $500M to $1B (795) · 0.8% percentile
- client count collapseChange between filings · filing Mar 31, 2026individual and HNW clients (Item 5.D) moved from 1,812.0 to 1,099.0 (-39.0%) between the annual amendments of 2025-03-31 and 2026-03-31; the peer median change was +5.0% (1216 comparable advisers, 2.0th percentile of changes)peers: independent wealth managers, $500M to $1B (1,216) · 2.5% percentile
- employee count dropChange between filings · filing Mar 31, 2026employees (Item 5.A) moved from 26.0 to 12.0 (-54.0%) between the annual amendments of 2025-03-31 and 2026-03-31; the peer median change was 0.0% (596 comparable advisers, 1.0th percentile of changes)peers: independent wealth managers, $500M to $1B (596) · 0.5% percentile
What changed
consecutive filings, newest first
- Accounts · 3,424 to 2,336Feb 5, 2026 to Mar 31, 2026
- Advisory employees · 14 to 6Feb 5, 2026 to Mar 31, 2026
- BD registered reps · 16 to 6Feb 5, 2026 to Mar 31, 2026
- Charity clients · 5 to 0Feb 5, 2026 to Mar 31, 2026
- Corporate clients · 0 to 5Feb 5, 2026 to Mar 31, 2026
- Individual clients · 1,798 to 1,085Feb 5, 2026 to Mar 31, 2026
- Assets in custody · $504M to $369MFeb 5, 2026 to Mar 31, 2026
- Employees · 26 to 12Feb 5, 2026 to Mar 31, 2026
- State-registered IARs · 14 to 6Feb 5, 2026 to Mar 31, 2026
- Discretionary RAUM · $673M to $452MFeb 5, 2026 to Mar 31, 2026
- HNW RAUM · $127M to $127MFeb 5, 2026 to Mar 31, 2026
- Individual RAUM · $748M to $559MFeb 5, 2026 to Mar 31, 2026
- Non-discretionary RAUM · $221M to $254MFeb 5, 2026 to Mar 31, 2026
- RAUM · $894M to $705MFeb 5, 2026 to Mar 31, 2026
- Wrap assets (sponsor) · $221M to $250MFeb 5, 2026 to Mar 31, 2026
- Other offices · 5 to 4Mar 31, 2025 to Feb 5, 2026
- Accounts · 2,958 to 3,424Oct 1, 2024 to Mar 31, 2025
- Advisory employees · 15 to 14Oct 1, 2024 to Mar 31, 2025
- BD registered reps · 18 to 16Oct 1, 2024 to Mar 31, 2025
- HNW clients · 12 to 14Oct 1, 2024 to Mar 31, 2025
- Individual clients · 1,577 to 1,798Oct 1, 2024 to Mar 31, 2025
- Assets in custody · $402M to $504MOct 1, 2024 to Mar 31, 2025
- Employees · 24 to 26Oct 1, 2024 to Mar 31, 2025
- Insurance-licensed employees · 3 to 1Oct 1, 2024 to Mar 31, 2025
- Financial planning clients · 0 to 0Oct 1, 2024 to Mar 31, 2025
- State-registered IARs · 15 to 14Oct 1, 2024 to Mar 31, 2025
- Discretionary RAUM · $740M to $673MOct 1, 2024 to Mar 31, 2025
- HNW RAUM · $108M to $127MOct 1, 2024 to Mar 31, 2025
- Individual RAUM · $614M to $748MOct 1, 2024 to Mar 31, 2025
- Non-discretionary RAUM · $0 to $221MOct 1, 2024 to Mar 31, 2025
- RAUM · $740M to $894MOct 1, 2024 to Mar 31, 2025
- Wrap assets (sponsor) · $204M to $221MOct 1, 2024 to Mar 31, 2025
- Accounts · 2,470 to 2,958Jan 30, 2024 to Mar 28, 2024
- HNW clients · 10 to 12Jan 30, 2024 to Mar 28, 2024
- Individual clients · 1,385 to 1,577Jan 30, 2024 to Mar 28, 2024
- Assets in custody · $311M to $402MJan 30, 2024 to Mar 28, 2024
- Employees · 23 to 24Jan 30, 2024 to Mar 28, 2024
- Insurance-licensed employees · 6 to 3Jan 30, 2024 to Mar 28, 2024
- Discretionary RAUM · $611M to $740MJan 30, 2024 to Mar 28, 2024
- HNW RAUM · $81.3M to $108MJan 30, 2024 to Mar 28, 2024
Signals
12 dated events
- Blake Robert Dunlop left Benjamin F. Edwards Wealth Management, Llc for Mariner (registered 2026-04-16)Apr 24, 2026 · Advisor changed firm · fact
- Connor P Dunlop left Benjamin F. Edwards Wealth Management, Llc for Mariner (registered 2026-04-17)Apr 24, 2026 · Advisor changed firm · fact
- Adam Wayne Minor left Benjamin F. Edwards Wealth Management, Llc for Rbs Wealth Management (registered 2025-08-19)Sep 10, 2025 · Advisor changed firm · fact
- Ryan Bernard Stephen left Benjamin F. Edwards Wealth Management, Llc for Rbs Wealth Management (registered 2025-08-19)Sep 10, 2025 · Advisor changed firm · fact
- Kayla Mitchell left Benjamin F. Edwards Wealth Management, Llc for Edward Jones (registered 2024-11-08)Aug 22, 2024 · Advisor changed firm · fact
- Lyn Cynthia Bohme (Director) no longer on Schedule A of Benjamin F. Edwards Wealth Management, Llc (listed 2023-11-20, absent 2024-01-30)Jan 30, 2024 · Control person left · inference
- Allen Edgar Cole (Director) no longer on Schedule A of Benjamin F. Edwards Wealth Management, Llc (listed 2022-03-31, absent 2022-10-03)Oct 3, 2022 · Control person left · inference
- R Matthew Salamon (Director) appeared on Schedule A of Benjamin F. Edwards Wealth Management, LlcOct 3, 2022 · Control person joined · fact
- Benjamin F. Edwards Wealth Management, Llc reported RAUM $477.5M, up 32% from $362.0M (2022-01-26 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- Benjamin F. Edwards Wealth Management, Llc reported RAUM $362.0M, up 56% from $232.7M (2021-03-23 to 2021-03-31)Mar 31, 2021 · RAUM change · derived
- Paul Matthew Muckler (Chief Compliance Officer, Advisory) appeared on Schedule A of Benjamin F. Edwards Wealth Management, LlcMar 23, 2021 · Control person joined · fact
- Benjamin F. Edwards Wealth Management, Llc filed its initial SEC registration (Form ADV)Jul 6, 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
- 314-326-4481reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 314-726-1600reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 855-382-1600reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- bfewealth.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 314-726-1600reportedpublic record, Form ADV, Mar 31, 2026
- Contact form
- benjaminfedwards.com/contactreportedpublished 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
- $118Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026