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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Former SEC-registered adviser
B•••• T•••• I••••••••• S•••••••
Legal name B•••• T•••• I••••••••• S•••••••• L••
Latest filing Aug 19, 2020
First filing on the tape Feb 14, 2019 · 7 filings
RAUM
$1.7B
reported, Item 5.F
Discretionary
11%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
7
4 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
7 filings and snapshots on the tape
RAUM$1.7B as of Aug 19, 2020
Aug 30, 2019$1.6B then
HNW client RAUM: no history
State-registered IARs (5.B.3)7 as of Aug 19, 2020
Aug 30, 20198 then
Employees (5.A)7 as of Aug 19, 2020
Aug 30, 20198 then
Private funds: no history
RAUM +8.1% over the last fiscal yearIARs 8 to 7offices 3 to 2
Practice profile
derived from the filing of Aug 19, 2020; every figure names its basis
- RAUM per advisor
- $239MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $19.5MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 11%derivedof RAUM
- Institutional
- 100%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 2.3derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +8.1%derivedbetween the last two annual amendments
- Advisor growth, one year
- -13%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- portfolio management for businesses and institutions, selection of other advisers, publications, educational seminars, otherreportedItem 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
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- State and municipal entities$1.7B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 86reported
- Financial planning clients
- n/areported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
- M••• T••••• R••••••• to B•••• T•••• W••••• M••••••••• L••Dec 26, 2020 · Other
- G••••• L•• B••••• to B•••• T•••• W••••• M••••••••• L••Dec 26, 2020 · Other
- S••••• M•••••• S•••••• to B•••• T•••• W••••• M••••••••• L••Dec 26, 2020 · Other
- T•••••• R••••• S••••• to B•••• T•••• W••••• M••••••••• L••Dec 26, 2020 · Other
- M•••••• B••••• G••••• to B•••• T•••• W••••• M••••••••• L••Dec 26, 2020 · Other
- J•••••• A••••• M••••• to B•••• T•••• W••••• M••••••••• L••Dec 26, 2020 · Other
Joined, latest
- M•••••• B••••• G••••• from S•••••••• A•••••••• L••Aug 9, 2019 · Other
- M••• T••••• R••••••• from U•••••• C••• A••••••• S•••••••• L••Mar 18, 2019 · Other
- G••••• L•• B••••• from U•••••• C••• A••••••• S•••••••• L••Mar 18, 2019 · Other
- T•••••• R••••• S••••• from U•••••• C••• A••••••• S•••••••• L••Mar 18, 2019 · Other
- J•••••• A••••• M••••• from U•••••• C••• A••••••• S•••••••• L••Mar 18, 2019 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 5 left for B•••• T•••• W••••• M••••••••• L••Dec 26, 2020 · Madison, Wi · Firm absorbed
- 4 joined from U•••••• C••• A••••••• S•••••••• L••Mar 29, 2019 · Indianapolis, In · Firm absorbed
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- D•••••• C•••••• · Chief Financial Officercontrolsince 06/2020 · owns less than 5%
- H••••••••• V•••• · Presidentcontrolsince 06/2020 · owns less than 5%
- O••••• B••••••• R• · Chief Compliance Officercontrolsince 02/2019 · owns less than 5%
- S••••••• J••• · Vice Presidentcontrolsince 06/2020 · owns less than 5%
- S••••••••• K•••• · Chief Operating Officercontrolsince 06/2020 · owns less than 5%
Entity owners
- B•••• T•••• U•• L•• · Sole Owner/Managing Memberdirect · owns 75% or more
Related persons
Schedule D 7.A
- B•••• T•••• C••••••• L••broker-dealern
- B•••• T•••• W••••• M••••••••• L••investment advisernRAUM $5.2B
- B•••• T•••• M•••••••• A•••••••• L••n
- B•••• T•••• U•• L••insurancey
Offices
Schedule D 1.F, the 25 largest
- Indianapolis, IN4 employees
- Saint Paul, MN1 employees
What changed
consecutive filings, newest first
- Accounts · 79 to 86Aug 30, 2019 to Aug 19, 2020
- Advisory employees · 6 to 4Aug 30, 2019 to Aug 19, 2020
- Employees · 8 to 7Aug 30, 2019 to Aug 19, 2020
- State-registered IARs · 8 to 7Aug 30, 2019 to Aug 19, 2020
- Other offices · 3 to 2Aug 30, 2019 to Aug 19, 2020
- Discretionary RAUM · $0 to $192MAug 30, 2019 to Aug 19, 2020
- Non-discretionary RAUM · $1.6B to $1.5BAug 30, 2019 to Aug 19, 2020
- RAUM · $1.6B to $1.7BAug 30, 2019 to Aug 19, 2020
- Accounts · 75 to 79Apr 5, 2019 to Aug 30, 2019
- Non-discretionary RAUM · $1.2B to $1.6BApr 5, 2019 to Aug 30, 2019
- RAUM · $1.2B to $1.6BApr 5, 2019 to Aug 30, 2019
- Accounts · 0 to 75Apr 1, 2019 to Apr 5, 2019
- Business name · B•••• T•••• to B•••• T•••• I••••••••• S•••••••Apr 1, 2019 to Apr 5, 2019
- Non-discretionary RAUM · $0 to $1.2BApr 1, 2019 to Apr 5, 2019
- RAUM · $0 to $1.2BApr 1, 2019 to Apr 5, 2019
- Advisory employees · 5 to 6Mar 18, 2019 to Apr 1, 2019
- Business name · B•••• T•••• I••••••••• S••••••• to B•••• T••••Mar 18, 2019 to Apr 1, 2019
- Employees · 7 to 8Mar 18, 2019 to Apr 1, 2019
- State-registered IARs · 7 to 8Mar 18, 2019 to Apr 1, 2019
- Other offices · 1 to 3Mar 18, 2019 to Apr 1, 2019
- Advisory employees · 1 to 5Feb 19, 2019 to Mar 18, 2019
- Employees · 1 to 7Feb 19, 2019 to Mar 18, 2019
- State-registered IARs · 1 to 7Feb 19, 2019 to Mar 18, 2019
- Other offices · 3 to 1Feb 14, 2019 to Feb 19, 2019
Signals
6 dated events
- Kevin Simmerman (Chief Operating Officer) appeared on Schedule A of B•••• T•••• I••••••••• S•••••••Aug 19, 2020 · Control person joined · fact
- Vicki Hellenbrand (President) appeared on Schedule A of B•••• T•••• I••••••••• S•••••••Aug 19, 2020 · Control person joined · fact
- Charles Droege (Chief Financial Officer) appeared on Schedule A of B•••• T•••• I••••••••• S•••••••Aug 19, 2020 · Control person joined · fact
- Jere Shawver (Vice President) appeared on Schedule A of B•••• T•••• I••••••••• S•••••••Aug 19, 2020 · Control person joined · fact
- B•••• T•••• I••••••••• S••••••• reported RAUM $1.6B, up 25% from $1.2B (2019-04-05 to 2019-08-30)Aug 30, 2019 · RAUM change · derived
- B•••• T•••• I••••••••• S••••••• filed its initial SEC registration (Form ADV)Feb 14, 2019 · 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.
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
- Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026