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
Theory Financial
Legal name Theory Financial LLC
Latest filing Mar 4, 2026
First filing on the tape Aug 23, 2021 · 12 filings
SEC status approved since Sep 22, 2021
RAUM
$319M
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
100%
$319M individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$106M
derived; firm RAUM over IAPD count
Employees
3
3 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
12 filings and snapshots on the tape
RAUM$319M as of Mar 4, 2026
Mar 7, 2022$182M then
HNW client RAUM$255M as of Mar 4, 2026
Mar 7, 2022$149M then
State-registered IARs (5.B.3)3 as of Mar 4, 2026
Mar 7, 20224 then
Employees (5.A)3 as of Mar 4, 2026
Mar 7, 20224 then
Private funds: no history
RAUM +13% over the last fiscal year+22% a year over threeIARs 3 to 3
Practice profile
derived from the filing of Mar 4, 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
- $106MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 84derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.4MderivedHNW RAUM over HNW clients
- Average account
- $472,249derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 99%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 1.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +13%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +6.8%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individualsreportedItem 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
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$255M80%
- Individuals$63.8M20%
- Individual clients
- 146reported
- HNW clients
- 106reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 676reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUMreported
- 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
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Ryan Charles StoutCertified Financial Planner | Fort Collins, Co | Jun 17, 2019 | 19 y | 3 |
| Thomas G BraunCertified Financial Planner, Chartered Financial Consultant | Fort Collins, Co | Nov 3, 2020 | 21 y | 1 |
| Charles Leland Nedele | Fort Collins, Co | Jan 15, 2021 | 19 y | 1 |
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
- Robert Allan Helgeland to Curtis Wealth Management LLCSep 30, 2022 · RIA to RIA
Joined, latest
- Charles Leland Nedele from Advice And Planning ServicesJan 15, 2021 · Affiliated broker-dealer or bank to independent RIA
- Robert Allan Helgeland from Advice And Planning ServicesNov 3, 2020 · Affiliated broker-dealer or bank to independent RIA
- Thomas G Braun from Advice And Planning ServicesNov 3, 2020 · Affiliated broker-dealer or bank to independent RIA
- Ryan Charles Stout from Advice And Planning ServicesJun 17, 2019 · Affiliated broker-dealer or bank to independent RIA
Teams: two or more advisors moving together within fourteen days, from one state
- 3 joined from Advice And Planning ServicesNov 13, 2020 · Denver, Co
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Charles Ryan Stout · Managing Member/Ccocontrolsince 04/2019 · owns 75% or more
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 |
|---|---|---|---|---|---|
| Fort Collins, Co · principal | 3 | 0 | 0 | ||
| Lakewood, Co | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Lakewood, CO2 employees
What changed
consecutive filings, newest first
- Accounts · 625 to 676Jan 8, 2026 to Mar 4, 2026
- HNW clients · 91 to 106Jan 8, 2026 to Mar 4, 2026
- Individual clients · 145 to 146Jan 8, 2026 to Mar 4, 2026
- Discretionary RAUM · $262M to $315MJan 8, 2026 to Mar 4, 2026
- HNW RAUM · $216M to $255MJan 8, 2026 to Mar 4, 2026
- Individual RAUM · $67.2M to $63.8MJan 8, 2026 to Mar 4, 2026
- Non-discretionary RAUM · $20.6M to $3.9MJan 8, 2026 to Mar 4, 2026
- RAUM · $283M to $319MJan 8, 2026 to Mar 4, 2026
- Accounts · 563 to 625Feb 13, 2024 to Mar 3, 2025
- HNW clients · 84 to 91Feb 13, 2024 to Mar 3, 2025
- Individual clients · 123 to 145Feb 13, 2024 to Mar 3, 2025
- Financial planning clients · 0 to 0Feb 13, 2024 to Mar 3, 2025
- Discretionary RAUM · $212M to $262MFeb 13, 2024 to Mar 3, 2025
- HNW RAUM · $159M to $216MFeb 13, 2024 to Mar 3, 2025
- Individual RAUM · $53.0M to $67.2MFeb 13, 2024 to Mar 3, 2025
- Non-discretionary RAUM · $0 to $20.6MFeb 13, 2024 to Mar 3, 2025
- RAUM · $212M to $283MFeb 13, 2024 to Mar 3, 2025
- Accounts · 482 to 563Mar 8, 2023 to Feb 13, 2024
- HNW clients · 70 to 84Mar 8, 2023 to Feb 13, 2024
- Individual clients · 117 to 123Mar 8, 2023 to Feb 13, 2024
- Discretionary RAUM · $177M to $212MMar 8, 2023 to Feb 13, 2024
- HNW RAUM · $132M to $159MMar 8, 2023 to Feb 13, 2024
- Individual RAUM · $44.7M to $53.0MMar 8, 2023 to Feb 13, 2024
- RAUM · $177M to $212MMar 8, 2023 to Feb 13, 2024
- Accounts · 424 to 482Oct 18, 2022 to Mar 8, 2023
- Advisory employees · 4 to 3Oct 18, 2022 to Mar 8, 2023
- HNW clients · 72 to 70Oct 18, 2022 to Mar 8, 2023
- Individual clients · 91 to 117Oct 18, 2022 to Mar 8, 2023
- Employees · 4 to 3Oct 18, 2022 to Mar 8, 2023
- State-registered IARs · 4 to 3Oct 18, 2022 to Mar 8, 2023
- Other offices · 2 to 1Oct 18, 2022 to Mar 8, 2023
- Discretionary RAUM · $182M to $177MOct 18, 2022 to Mar 8, 2023
- HNW RAUM · $149M to $132MOct 18, 2022 to Mar 8, 2023
- Individual RAUM · $32.5M to $44.7MOct 18, 2022 to Mar 8, 2023
- RAUM · $182M to $177MOct 18, 2022 to Mar 8, 2023
- Accounts · 346 to 424Jan 3, 2022 to Mar 7, 2022
- Charity clients · unset to 0.0Jan 3, 2022 to Mar 7, 2022
- Corporate clients · unset to 0.0Jan 3, 2022 to Mar 7, 2022
- HNW clients · 92 to 72Jan 3, 2022 to Mar 7, 2022
- Individual clients · 47 to 91Jan 3, 2022 to Mar 7, 2022
Signals
2 dated events
- Robert Allan Helgeland left Theory Financial for Curtis Wealth Management Llc (registered 2022-12-07)Sep 30, 2022 · Advisor changed firm · fact
- Theory Financial filed its initial SEC registration (Form ADV)Aug 23, 2021 · 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/theory-financialreportedpublic record, Form ADV, Sep 17, 2026
- Website
- theoryfinance.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 970-305-4649reportedpublic record, Form ADV, Mar 4, 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
- $106Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026