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

A•••• F••••••••

Former SEC-registered adviserOshkosh, WisconsinCRD 305030SEC 801-117229websiteIAPD
Legal name B••••• • C•••••• S•••
Latest filing Dec 9, 2025
First filing on the tape Jul 24, 2019 · 77 filings
SEC status approved since Aug 21, 2019
RAUM
$419M
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
97%
$406M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
13
6 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
77 filings and snapshots on the tape
RAUM$419M as of Dec 9, 2025
Jan 23, 2020$179M then
HNW client RAUM$287M as of Dec 9, 2025
Jan 23, 2020$8.6M then
State-registered IARs (5.B.3)7 as of Dec 9, 2025
Jan 23, 20204 then
Employees (5.A)13 as of Dec 9, 2025
Jan 23, 20205 then
Private funds: no history
RAUM +17% over the last fiscal year+5.8% a year over threeIARs 6 to 7
Practice profile
derived from the filing of Dec 9, 2025; every figure names its basis
RAUM per advisor
$59.9MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
71derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.6MderivedHNW RAUM over HNW clients
Average account
$235,236derivedRAUM over accounts (5.F.2.f)
Discretionary
99%derivedof RAUM
Institutional
1.5%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.9derivedItem 5.A over advisors
Advisors per office
2.3derived3 offices incl. principal (1.F.5)
RAUM growth, one year
+17%derivedbetween the last two annual amendments
Advisor growth, one year
+17%derivedItem 5.B.3 between annual amendments
Client growth, one year
-4.4%derived
Compensation
percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, pension consultingreportedItem 5.G
Custody
$20.3M, 35 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)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$287M69%
  • Individuals$119M28%
  • Corporations and businesses$6.2M1.5%
  • Pension and profit-sharing plans$3.4M0.8%
  • Charitable organizations$3.0M0.7%
Individual clients
388reported
HNW clients
111reported
Pension plan clients
3reported
Charitable clients
5reported
Accounts
1,781reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
$20.3M for 35 clientsreported
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
7 left, 0 joined in 12 months
net -7 in 12 months0 left in 90 days0 joined in 90 days8 left over 36 months
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
Teams outTeams in
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • B•••••• W••••••• L•• · President & Shareholdercontrol
    since 01/1997 · owns 75% or more
  • H•••••• K••••••• R•••• · Chief Compliance Officer/Chief Operations Officercontrol
    since 11/2021 · owns less than 5%
Related persons
Schedule D 7.A
  • B••••• I•••••••• S••••••• L••
    real estaten
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Oshkosh, Wi · principal007
Offices
Schedule D 1.F, the 25 largest
  • Appleton, WI
  • Milwaukee, WI
What changed
consecutive filings, newest first
  • Advisory employees · 7 to 6
    Nov 27, 2025 to Dec 9, 2025
  • Employees · 14 to 13
    Nov 27, 2025 to Dec 9, 2025
  • State-registered IARs · 8 to 7
    Nov 27, 2025 to Dec 9, 2025
  • Advisory employees · 6 to 7
    Aug 22, 2025 to Nov 27, 2025
  • Employees · 13 to 14
    Aug 22, 2025 to Nov 27, 2025
  • Financial planning clients · 0 to 0
    Aug 22, 2025 to Nov 27, 2025
  • State-registered IARs · 7 to 8
    Aug 22, 2025 to Nov 27, 2025
  • Advisory employees · 5 to 6
    Jul 18, 2025 to Aug 22, 2025
  • Employees · 12 to 13
    Jul 18, 2025 to Aug 22, 2025
  • State-registered IARs · 6 to 7
    Jul 18, 2025 to Aug 22, 2025
  • Advisory employees · 6 to 5
    May 20, 2025 to Jul 18, 2025
  • Employees · 13 to 12
    May 20, 2025 to Jul 18, 2025
  • State-registered IARs · 7 to 6
    May 20, 2025 to Jul 18, 2025
  • Employees · 15 to 13
    Apr 9, 2025 to May 20, 2025
  • Employees · 14 to 15
    Jan 15, 2025 to Feb 17, 2025
  • Accounts · 1,735 to 1,781
    Nov 30, 2024 to Jan 15, 2025
  • Corporate clients · 3 to 5
    Nov 30, 2024 to Jan 15, 2025
  • HNW clients · 108 to 111
    Nov 30, 2024 to Jan 15, 2025
  • Individual clients · 414 to 388
    Nov 30, 2024 to Jan 15, 2025
  • Pension plan clients · 2 to 3
    Nov 30, 2024 to Jan 15, 2025
  • Assets in custody · $15.9M to $20.3M
    Nov 30, 2024 to Jan 15, 2025
  • Financial planning clients · 1-10 to 0
    Nov 30, 2024 to Jan 15, 2025
  • Discretionary RAUM · $350M to $416M
    Nov 30, 2024 to Jan 15, 2025
  • HNW RAUM · $243M to $287M
    Nov 30, 2024 to Jan 15, 2025
  • Individual RAUM · $106M to $119M
    Nov 30, 2024 to Jan 15, 2025
  • Non-discretionary RAUM · $7.1M to $3.4M
    Nov 30, 2024 to Jan 15, 2025
  • Pension RAUM · $3.6M to $3.4M
    Nov 30, 2024 to Jan 15, 2025
  • RAUM · $357M to $419M
    Nov 30, 2024 to Jan 15, 2025
  • Employees · 13 to 14
    Aug 16, 2024 to Sep 3, 2024
  • Advisory employees · 5 to 6
    Jul 10, 2024 to Aug 16, 2024
  • Employees · 12 to 13
    Jul 10, 2024 to Aug 16, 2024
  • State-registered IARs · 6 to 7
    Jul 10, 2024 to Aug 16, 2024
  • Advisory employees · 4 to 5
    Apr 12, 2024 to Jul 10, 2024
  • State-registered IARs · 5 to 6
    Apr 12, 2024 to Jul 10, 2024
  • Advisory employees · 5 to 4
    Mar 21, 2024 to Apr 12, 2024
  • Employees · 13 to 12
    Mar 21, 2024 to Apr 12, 2024
  • State-registered IARs · 6 to 5
    Mar 21, 2024 to Apr 12, 2024
  • Accounts · 1,528 to 1,735
    Oct 9, 2023 to Mar 10, 2024
  • Charity clients · 1 to 5
    Oct 9, 2023 to Mar 10, 2024
  • HNW clients · 35 to 108
    Oct 9, 2023 to Mar 10, 2024
Signals
15 dated events
  • A•••• F•••••••• no longer on the SEC adviser roster (last listed 2026-02-02, RAUM $419.0M)
    Mar 2, 2026 · Left the SEC roster · derived
  • W•••• M••••••• H••••• left A•••• F•••••••• for W••••• E••••••••• A••••••• S•••••••• L•• (registered 2026-07-01)
    Feb 9, 2026 · Advisor changed firm · fact
  • W•••••• L•• B••••• left A•••• F•••••••• for W••••• E••••••••• A••••••• S•••••••• L•• (registered 2026-01-02)
    Feb 9, 2026 · Advisor changed firm · fact
  • B•••• J•••• R••••• left A•••• F•••••••• for W••••• E••••••••• A••••••• S•••••••• L•• (registered 2026-01-02)
    Feb 9, 2026 · Advisor changed firm · fact
  • S••••• S•••• C••••••• left A•••• F•••••••• for W••••• E••••••••• A••••••• S•••••••• L•• (registered 2026-01-02)
    Feb 9, 2026 · Advisor changed firm · fact
  • A••••• M•••• D••• left A•••• F•••••••• for W••••• E••••••••• A••••••• S•••••••• L•• (registered 2026-01-02)
    Feb 9, 2026 · Advisor changed firm · fact
  • M•••••• A•••• V••••••••• left A•••• F•••••••• for W••••• E••••••••• A••••••• S•••••••• L•• (registered 2026-01-02)
    Feb 9, 2026 · Advisor changed firm · fact
  • A•••• F••••••••'s advisors moved to W••••• E••••••••• A••••••• S•••••••• L•• (Oshkosh, WI): 6 of 6 registered, on the same day
    Feb 9, 2026 · Firm absorbed (people side) · derived
  • M•••••• P•••••• D••••• left A•••• F•••••••• for M•••••• S•••••• W••••• M••••••••• I••• (registered 2025-12-23)
    Dec 2, 2025 · Advisor changed firm · fact
  • K•••• K•• C••••••• left A•••• F•••••••• for C••••••• P••••••• (registered 2024-05-17)
    May 6, 2024 · Advisor changed firm · fact
  • A••••• M•••• R••• left A•••• F•••••••• for A••••••• A••••••• S•••••••• L•• (registered 2022-12-20)
    Nov 16, 2022 · Advisor changed firm · fact
  • M•••••• C•••••• S•••••• left A•••• F•••••••• for M•••••• S•••••• W••••• M••••••••• I••• (registered 2022-02-15)
    Jan 25, 2022 · Advisor changed firm · fact
  • M•••••• Mark Oswald (Chief Compliance Officer) no longer on Schedule A of A•••• F•••••••• (listed 2021-11-04, absent 2021-11-16)
    Nov 16, 2021 · Control person left · inference
  • M•••••• Mark Oswald (Chief Compliance Officer) appeared on Schedule A of A•••• F••••••••
    Nov 4, 2021 · Control person joined · fact
  • A•••• F•••••••• filed its initial SEC registration (Form ADV)
    Jul 24, 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