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

Ptma Investment Advisors

Asset manager (funds and pooled vehicles)Naperville, IllinoisCRD 301973SEC 801-115313website IAPD

Legal name Prudent Man Advisors, LLC

Latest filing Apr 30, 2026

First filing on the tape Apr 18, 2019 · 24 filings

SEC status approved since Apr 2, 2019

RAUM

$31B

reported, Item 5.F

Discretionary

93%

of RAUM

Private clients

0.1%

$28.6M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$1.1B

derived; firm RAUM over IAPD count

Employees

157

81 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

24 filings and snapshots on the tape

RAUM$31B as of Apr 30, 2026

Mar 24, 2020$7.6B then

HNW client RAUM$26.2M as of Apr 30, 2026

Mar 31, 2021$33.3M then

State-registered IARs (5.B.3)28 as of Apr 30, 2026

Mar 24, 202017 then

Employees (5.A)157 as of Apr 30, 2026

Mar 24, 202048 then

Private funds: no history

RAUM +10% over the last fiscal year+15% a year over threeIARs 31 to 28offices 10 to 13

Practice profile

derived from the filing of Apr 30, 2026; every figure names its basis

Archetypes, each a printed rule

Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
PE backed · a Schedule A entity owner at 25 percent or more whose exact legal name is a PE fund vehicle or a classified PE sponsor on the DFX private equity graph

RAUM per advisor: $1.1BderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 1derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $3.3MderivedHNW RAUM over HNW clients
Average account: $60.2MderivedRAUM over accounts (5.F.2.f)
Discretionary: 93%derivedof RAUM
Institutional: 7.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 5.8derivedItem 5.A over advisors
Advisors per office: 1.9derived14 offices incl. principal (1.F.5)
RAUM growth, one year: +10%derivedbetween the last two annual amendments
Advisor growth, one year: -9.7%derivedItem 5.B.3 between annual amendments
Client growth, one year: +0.0%derived
Compensation: percentage of assetsreportedItem 5.E
Advisory activities: portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, selection of other advisersreportedItem 5.G
Custody: $27B, 12 clientsreportedItem 9.A
Ownership: a PE fund or sponsor is a 25 percent or greater owner 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)
a related person has custody of client cash (9.B.1.a)
a related person has custody of client securities (9.B.1.b)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Pooled investment vehicles$27B88%
State and municipal entities$1.8B5.9%
Corporations and businesses$1.2B3.9%
Insurance companies$422M1.4%
Other investment advisers$48.6M0.2%
Charitable organizations$38.2M0.1%
High-net-worth individuals$26.2M0.1%
Individuals$2.4M0.0%

Individual clients: 7reported
HNW clients: 8reported
Pension plan clients: n/areported
Charitable clients: 8reported
Accounts: 508reported
Financial planning clients: 0reported
Wrap fee programs: noreported
Custody of client assets: $27B for 12 clientsreported
Compensation: % of AUMreported
Class basis: private_client_share=0.0 fund_share=0.89 institutional_share=0.07 related_bd=true related_bank=false bd_reps=73.0derived

Advisors registered through the firm

27 on IAPD today, longest tenure first

Name	Branch	Here since	In industry	Prior firms
Lori Ann Ragus	Naperville, Il	May 22, 2019	16 y	1
Kevin Kulling	Naperville, Il	May 24, 2019	11 y	1
Thomas Anthony Lanzara	Naperville, Il	May 29, 2019	14 y	1
Timothy James Flaherty	Naperville, Il	May 29, 2019	12 y	1
Steven Robert Pumper	Naperville, Il	May 31, 2019	17 y	1
Kent Donald Johnson	Albertville, Mn	May 31, 2019	28 y	1
Paula Jean Cooper	Naperville, Il	May 31, 2019	24 y	1
David James Lutter	Naperville, Il	May 31, 2019	25 y	1
Brian David Hextell	Naperville, Il	Jun 4, 2019	28 y	1
Dean Mitchell Dibias	St. Louis Park, Mn	Jun 6, 2019	12 y	1
Amy Lynn Buikema	Naperville, Il	Jun 20, 2019	25 y	2
Courtney Lynn Clarke	West Des Moines, Ia	Sep 30, 2020	22 y	0
Rajesh Chainani	Naperville, Il	Feb 1, 2021	26 y	1
Kenneth Doyle Shuler	Naperville, Il	Feb 1, 2021	20 y	2
Aaron Alexander Fricke	Naperville, Il	Feb 1, 2021	11 y	1
Brittany Lee Woodruff	Naperville, Il	Feb 3, 2021	12 y	1
Michael Allen Stramara	Naperville, Il	Feb 4, 2021	33 y	1
Kendra Lynne Shelland	St. Louis Park, Mn	Dec 2, 2021	16 y	0
Brandon Douglas Engle	Naperville, Il	Feb 14, 2022	17 y	0
Cedric Peter BuermannChartered Financial Analyst	St. Louis Park, Mn	Feb 28, 2022	19 y	2
Sara Ann Schnoor	Milwaukee, Wi	Jun 8, 2022	19 y	2
Alejandro Alanis	Naperville, Il	Jun 13, 2022	14 y	2
Benjamin Taylor Bjelland Nordin	Naperville, Il	Jun 23, 2022	11 y	1
Caleb Brian Walter	Naperville, Il	Feb 3, 2023	12 y	3
Jarett Dylan Felty	Naperville, Il	Mar 27, 2024	12 y	0
Brett Nathaniel Weeden	Naperville, Il	Jul 2, 2024	21 y	0
Hunter Cole Martin	Naperville, Il	Feb 3, 2025	12 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 headcount2 left over 36 months

Left, latest

Jack Lynam to Wells Fargo Advisors
Aug 25, 2025 · Other
Gabriel Lukas to Merrill Lynch, Pierce, Fenner & Smith Incorporated
Apr 8, 2024 · Other
Richard Thaddeus Deary to Loop Capital Asset Management
Mar 16, 2021 · Other

Joined, latest

Caleb Brian Walter from J.P. Morgan Securities LLC
Feb 3, 2023 · Other
Benjamin Taylor Bjelland Nordin from Merrill Lynch, Pierce, Fenner & Smith Incorporated
Jun 23, 2022 · Other
Alejandro Alanis from Thrivent Investment Management Inc.
Jun 13, 2022 · Other
Cedric Peter Buermann from Ameriprise Financial Services, LLC
Feb 28, 2022 · Other
Michael Allen Stramara from RBC Capital Markets, LLC
Feb 4, 2021 · Other
Brittany Lee Woodruff from RBC Capital Markets, LLC
Feb 3, 2021 · Other
Rajesh Chainani from RBC Capital Markets, LLC
Feb 1, 2021 · Other
Kenneth Doyle Shuler from RBC Capital Markets, LLC
Feb 1, 2021 · Other
Aaron Alexander Fricke from RBC Capital Markets, LLC
Feb 1, 2021 · Other
Richard Thaddeus Deary from Miles Capital, Inc.
Apr 22, 2020 · Other
Amy Lynn Buikema from Interactive Financial Advisors
Jun 20, 2019 · Other
Dean Mitchell Dibias from Prudent Man Advisors, Inc.
Jun 6, 2019 · Other
Brian David Hextell from Prudent Man Advisors, Inc.
Jun 4, 2019 · Other
Sara Ann Schnoor from Prudent Man Advisors, Inc.
Jun 3, 2019 · Other
Kent Donald Johnson from Prudent Man Advisors, Inc.
May 31, 2019 · Other

Every departure Every arrival

Teams: two or more advisors moving together within fourteen days, from one state

4 joined from RBC Capital Markets, LLC
Jan 29, 2021 · Lancaster, Pa
3 joined from Prudent Man Advisors, Inc.
May 31, 2019 · Albertville, Mn
7 joined from Prudent Man Advisors, Inc.
May 22, 2019 · Naperville, Il · Firm absorbed

Teams out Teams in

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

William Todd Alton · Chief Executive Officercontrol
since 10/2024 · owns less than 5%
O'Neill James Davis · Executive Chairmancontrol
since 10/2024 · owns less than 5%
Ann Lori Ragus · Chief Compliance Officer And General Counselcontrol
since 03/2011 · owns less than 5%
Joseph Donald Edwards · Sole Membercontrol
since 03/2022 · owns 75% or more of Flexpoint Ultimate Management V, LLC
Joseph Donald Edwards · Trusteecontrol
since 06/2000 · owns F of Donald J. Edwards Revocable Trust
Ray Jonathan Martens · Financial And Operations Principal
since 10/2012 · owns less than 5%

Entity owners

Pma Acquisition, LLC · Member
direct · owns 75% or more
Donald J. Edwards Revocable Trust · Limited Partner
indirect · owns 25% to 50% of Flexpoint Management V, L.P.
Flexpoint Fund V-A, L.P. · Sole Member
indirect · owns 75% or more of Pinnacle Ff Aggregator, LLC
Flexpoint Management V, L.P. · General Partner
indirect · owns F of Flexpoint Fund V-A, L.P.
Flexpoint Ultimate Management V, LLC · General Partner
indirect · owns F of Flexpoint Management V, L.P.
Pinnacle Ff Aggregator, LLC · Member
indirect · owns 25% to 50% of Pma-Pta Holdings, LLC
Pma Intermediate Holdings, LLC · Sole Member
indirect · owns 75% or more of Pma Acquisition, LLC
Pma Parent Holdings, LLC · Sole Member
indirect · owns 75% or more of Pma Intermediate Holdings, LLC
Pma-Pta Holdings, LLC · Sole Member
indirect · owns 75% or more of Ta Pma Purchaser, LLC
Ta Associates Cayman, LLC · General Partner
indirect · owns F of Ta Associates Xiv Gp, L.P.
Ta Associates Pma Holdings, LLC · Member
indirect · owns 25% to 50% of Pma-Pta Holdings, LLC
Ta Associates Xiv Gp, L.P. · General Partner
indirect · owns F of Ta Xiv-B Pma Subsidiary Partnership, L.P.
Ta Associates Xiv Gp, L.P. · General Partner
indirect · owns F of Ta Xiv-B, L.P.
Ta Associates Xiv Gp, L.P. · General Partner
indirect · owns F of Ta Xiv-A, L.P.
Ta Pma Intermediate, LLC · Sole Member
indirect · owns 75% or more of Pma Parent Holdings, LLC
Ta Pma Purchaser, LLC · Sole Member
indirect · owns 75% or more of Ta Pma Intermediate, LLC
Ta Xiv-A, L.P. · Member
indirect · owns 50% to 75% of Ta Associates Pma Holdings, LLC
Ta Xiv-B Pma Blocker Corp. · Limited Partner
indirect · owns 75% or more of Ta Xiv-B Pma Subsidiary Partnership, L.P.
Ta Xiv-B Pma Subsidiary Partnership, L.P. · Member
indirect · owns 25% to 50% of Ta Associates Pma Holdings, LLC
Ta Xiv-B, L.P. · Shareholder
indirect · owns 75% or more of Ta Xiv-B Pma Blocker Corp.

Related persons

Schedule D 7.A

Pma Securities, LLC
broker-dealern
Ptma Investment Advisors
investment advisernRAUM $104B

Advisers that list Ptma Investment Advisors as a related person

Office movement

IAPD branch city; joins and departures in 12 months

Office	Advisors	Joined	Left	Teams out	Forming
Naperville, Il · principal	21	0	0
St Louis Park, Mn	3	0	0

Offices

Schedule D 1.F, the 25 largest

St. Louis Park, MN13 employees
Lancaster, PA9 employees
Milwaukee, WI5 employees
Albertville, MN4 employees
West Des Moines, IA3 employees
St. Louis, MO2 employees
Lincoln, NE1 employees
Fishkill, NY1 employees
Denver, CO1 employees
Orlando, FL1 employees

ADV anomalies

1 against comparable advisers; where to look, not conclusions

employee count surgeChange between filings · filing Apr 30, 2026
employees (Item 5.A) moved from 79.0 to 157.0 (+99.0%) between the annual amendments of 2025-03-28 and 2026-04-30; the peer median change was +3.0% (462 comparable advisers, 99.0th percentile of changes)
peers: asset managers, $20B and over (462) · 99% percentile

How anomalies are measured

What changed

consecutive filings, newest first

Accounts · 504 to 508
Jan 21, 2026 to Mar 31, 2026
Advisory employees · 67 to 81
Jan 21, 2026 to Mar 31, 2026
BD registered reps · 52 to 73
Jan 21, 2026 to Mar 31, 2026
Charity clients · 7 to 8
Jan 21, 2026 to Mar 31, 2026
Assets in custody · $24B to $27B
Jan 21, 2026 to Mar 31, 2026
Employees · 79 to 157
Jan 21, 2026 to Mar 31, 2026
Insurance-licensed employees · 31 to 12
Jan 21, 2026 to Mar 31, 2026
State-registered IARs · 31 to 28
Jan 21, 2026 to Mar 31, 2026
Other offices · 10 to 13
Jan 21, 2026 to Mar 31, 2026
Discretionary RAUM · $26B to $29B
Jan 21, 2026 to Mar 31, 2026
HNW RAUM · $23.8M to $26.2M
Jan 21, 2026 to Mar 31, 2026
Individual RAUM · $2.2M to $2.4M
Jan 21, 2026 to Mar 31, 2026
Non-discretionary RAUM · $2.0B to $2.0B
Jan 21, 2026 to Mar 31, 2026
Pooled vehicle RAUM · $24B to $27B
Jan 21, 2026 to Mar 31, 2026
RAUM · $28B to $31B
Jan 21, 2026 to Mar 31, 2026
Financial planning clients · 0 to 0
Jul 14, 2025 to Sep 16, 2025
Accounts · 499 to 504
Nov 21, 2024 to Mar 28, 2025
Advisory employees · 64 to 67
Nov 21, 2024 to Mar 28, 2025
BD registered reps · 54 to 52
Nov 21, 2024 to Mar 28, 2025
Business name · PMA ASSET MANAGEMENT, LLC to PTMA INVESTMENT ADVISORS
Nov 21, 2024 to Mar 28, 2025
Charity clients · 8 to 7
Nov 21, 2024 to Mar 28, 2025
HNW clients · 10 to 8
Nov 21, 2024 to Mar 28, 2025
Individual clients · 9 to 7
Nov 21, 2024 to Mar 28, 2025
Pooled vehicle clients · 13 to 12
Nov 21, 2024 to Mar 28, 2025
Assets in custody · $24B to $24B
Nov 21, 2024 to Mar 28, 2025
Employees · 73 to 79
Nov 21, 2024 to Mar 28, 2025
Insurance-licensed employees · 0 to 31
Nov 21, 2024 to Mar 28, 2025
State-registered IARs · 32 to 31
Nov 21, 2024 to Mar 28, 2025
Discretionary RAUM · $25B to $26B
Nov 21, 2024 to Mar 28, 2025
HNW RAUM · $24.5M to $23.8M
Nov 21, 2024 to Mar 28, 2025
Individual RAUM · $2.9M to $2.2M
Nov 21, 2024 to Mar 28, 2025
Non-discretionary RAUM · $1.8B to $2.0B
Nov 21, 2024 to Mar 28, 2025
Pooled vehicle RAUM · $24B to $24B
Nov 21, 2024 to Mar 28, 2025
RAUM · $27B to $28B
Nov 21, 2024 to Mar 28, 2025
Other offices · 9 to 10
Apr 15, 2024 to Nov 21, 2024
Accounts · 543 to 499
Apr 3, 2023 to Mar 12, 2024
Advisory employees · 59 to 64
Apr 3, 2023 to Mar 12, 2024
Charity clients · 7 to 8
Apr 3, 2023 to Mar 12, 2024
Corporate clients · 4 to 3
Apr 3, 2023 to Mar 12, 2024
HNW clients · 12 to 10
Apr 3, 2023 to Mar 12, 2024

Signals

13 dated events

Jack Lynam left Ptma Investment Advisors for Wells Fargo Advisors (registered 2025-09-29)
Aug 25, 2025 · Advisor changed firm · fact
William Todd Alton (Chief Executive Officer) appeared on Schedule A of Ptma Investment Advisors
Nov 21, 2024 · Control person joined · fact
Joseph Donald Edwards (Trustee) appeared on Schedule A of Ptma Investment Advisors
Nov 21, 2024 · Control person joined · fact
Gabriel Lukas left Ptma Investment Advisors for Merrill Lynch, Pierce, Fenner & Smith Incorporated (registered 2024-05-21)
Apr 8, 2024 · Advisor changed firm · fact
Ptma Investment Advisors reported RAUM $27.0B, up 34% from $20.2B (2023-04-03 to 2024-03-12)
Mar 12, 2024 · RAUM change · derived
Allan Danny Kang (Managing Director) no longer on Schedule A of Ptma Investment Advisors (listed 2023-04-03, absent 2024-03-12)
Mar 12, 2024 · Control person left · inference
Casares Michael Mendez (Managing Director) no longer on Schedule A of Ptma Investment Advisors (listed 2023-04-03, absent 2024-03-12)
Mar 12, 2024 · Control person left · inference
Bayard Takashi Moriuchi (Managing Director) no longer on Schedule A of Ptma Investment Advisors (listed 2023-04-03, absent 2024-03-12)
Mar 12, 2024 · Control person left · inference
Ptma Investment Advisors reported RAUM $21.5B, up 58% from $13.7B (2021-03-31 to 2022-03-31)
Mar 31, 2022 · RAUM change · derived
Ptma Investment Advisors reported RAUM $13.7B, up 79% from $7.6B (2021-01-11 to 2021-03-31)
Mar 31, 2021 · RAUM change · derived
Ptma Investment Advisors reported 33 state-registered advisory representatives, up from 17 (2021-01-11 to 2021-03-31)
Mar 31, 2021 · Advisor headcount change · derived
Prudent Man Advisors, Llc reported succeeding to the business of Another Adviser (Form ADV Item 4)
Apr 18, 2019 · Succession (Item 4) · fact
Prudent Man Advisors, Llc filed its initial SEC registration (Form ADV)
Apr 18, 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.

How to reach

public business contact points only, each with its source

Firm profile: linkedin.com/company/pma-financial-networkreportedpublic record, Form ADV, Sep 17, 2026
Firm profile: linkedin.com/company/ptma-financial-solutionsreportedpublic record, Form ADV, Sep 17, 2026
Website: ptma.comreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone: 630-657-6400reportedpublic record, Form ADV, Apr 30, 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: Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
RAUM per advisor: $1.1Bderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026