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
Tenon Financial
Legal name Tenon Financial LLC
Latest filing Jan 7, 2026
First filing on the tape Jul 13, 2023 · 8 filings
SEC status approved since Aug 11, 2023
RAUM
$316M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$316M individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$105M
derived; firm RAUM over IAPD count
Employees
3
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
8 filings and snapshots on the tape
RAUM$316M as of Jan 7, 2026
Jan 23, 2024$131M then
HNW client RAUM$313M as of Jan 7, 2026
Jan 23, 2024$118M then
State-registered IARs (5.B.3)3 as of Jan 7, 2026
Jan 23, 20242 then
Employees (5.A)3 as of Jan 7, 2026
Jan 23, 20242 then
Private funds: no history
RAUM +52% over the last fiscal yearIARs 2 to 3
Practice profile
derived from the filing of Jan 7, 2026; every figure names its basis
Archetypes, each a printed rule
- Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
- RAUM per advisor
- $105MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 33derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.3MderivedHNW RAUM over HNW clients
- Average account
- $687,029derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%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
- 3.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +52%derivedbetween the last two annual amendments
- Advisor growth, one year
- +50%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +30%derived
- Compensation
- fixed feesreportedItem 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)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$313M99%
- Individuals$3.1M1.0%
- Charitable organizations$98,7910.0%
- Individual clients
- 4reported
- HNW clients
- 95reported
- Pension plan clients
- n/areported
- Charitable clients
- 1reported
- Accounts
- 460reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- fixedreported
- 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 |
|---|---|---|---|---|
| Andrew David PankoCertified Financial Planner | Metuchen, Nj | Sep 26, 2019 | 14 y | 0 |
| Michelle WuCertified Financial Planner, Chartered Financial Analyst | Metuchen, Nj | Mar 17, 2023 | 14 y | 2 |
| Brad William FloodCertified Financial Planner | Metuchen, Nj | May 9, 2025 | 17 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 headcount0 left over 36 months
Left, latest
none on the tape
Joined, latest
- Michelle Wu from Origin Investment Advisory LLCMar 17, 2023 · RIA to RIA
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- David Andrew Panko · Owner, And Chief Compliance Officercontrolsince 03/2019 · owns 75% or more
Related persons
Schedule D 7.A
- Tenon Tax Preparation LLCinsurancen
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Metuchen, Nj · principal | 3 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- compensation changedChange between filings · filing Jan 7, 2026hourly charges (Item 5.E.2): yes on the filing of 2025-07-22, no on the filing of 2026-01-07peers: independent wealth managers, $100M to $500M (5,676)
- RAUM up 50 %Change between filings · filing Jan 7, 2026RAUM (Item 5.F) moved from $208,315,421 to $316,033,549 (+52.0%) between the annual amendments of 2025-01-07 and 2026-01-07; the peer median change was +15.0% (4551 comparable advisers, 96.0th percentile of changes)peers: independent wealth managers, $100M to $500M (4,551) · 96% percentile
What changed
consecutive filings, newest first
- Accounts · 362 to 460Jul 22, 2025 to Jan 7, 2026
- HNW clients · 65 to 95Jul 22, 2025 to Jan 7, 2026
- Individual clients · 11 to 4Jul 22, 2025 to Jan 7, 2026
- Assets in custody · $130M to $203MJul 22, 2025 to Jan 7, 2026
- Discretionary RAUM · $208M to $316MJul 22, 2025 to Jan 7, 2026
- HNW RAUM · $199M to $313MJul 22, 2025 to Jan 7, 2026
- Individual RAUM · $9.5M to $3.1MJul 22, 2025 to Jan 7, 2026
- RAUM · $208M to $316MJul 22, 2025 to Jan 7, 2026
- Advisory employees · 2 to 3Jan 7, 2025 to Jul 22, 2025
- Employees · 2 to 3Jan 7, 2025 to Jul 22, 2025
- Insurance-licensed employees · 1 to 0Jan 7, 2025 to Jul 22, 2025
- Financial planning clients · 51-100 to 51-100Jan 7, 2025 to Jul 22, 2025
- State-registered IARs · 2 to 3Jan 7, 2025 to Jul 22, 2025
- Accounts · 279 to 362Aug 13, 2024 to Jan 7, 2025
- HNW clients · 44 to 65Aug 13, 2024 to Jan 7, 2025
- Individual clients · 15 to 11Aug 13, 2024 to Jan 7, 2025
- Assets in custody · $88.6M to $130MAug 13, 2024 to Jan 7, 2025
- Discretionary RAUM · $131M to $208MAug 13, 2024 to Jan 7, 2025
- HNW RAUM · $118M to $199MAug 13, 2024 to Jan 7, 2025
- Individual RAUM · $13.3M to $9.5MAug 13, 2024 to Jan 7, 2025
- RAUM · $131M to $208MAug 13, 2024 to Jan 7, 2025
- Accounts · 203 to 279Aug 23, 2023 to Jan 23, 2024
- Charity clients · unset to 1.0Aug 23, 2023 to Jan 23, 2024
- HNW clients · 42 to 44Aug 23, 2023 to Jan 23, 2024
- Individual clients · 8 to 15Aug 23, 2023 to Jan 23, 2024
- Assets in custody · unset to 88570534.0Aug 23, 2023 to Jan 23, 2024
- Discretionary RAUM · $101M to $131MAug 23, 2023 to Jan 23, 2024
- HNW RAUM · $94.8M to $118MAug 23, 2023 to Jan 23, 2024
- Individual RAUM · $5.9M to $13.3MAug 23, 2023 to Jan 23, 2024
- RAUM · $101M to $131MAug 23, 2023 to Jan 23, 2024
- Related insurance company · false to trueAug 23, 2023 to Jan 23, 2024
Signals
2 dated events
- Tenon Financial reported RAUM $316.0M, up 52% from $208.3M (2025-07-22 to 2026-01-07)Jan 7, 2026 · RAUM change · derived
- Tenon Financial filed its initial SEC registration (Form ADV)Jul 13, 2023 · 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 email
- hello@tenonfinancial.comreportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 732-902-0028reportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 732-902-0066reportedpublished by the firm, firm site, Sep 17, 2026
- Firm profile
- linkedin.com/company/tenonfinancialreportedpublic record, Form ADV, Sep 17, 2026
- Website
- tenonfinancial.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 732-902-0066reportedpublic record, Form ADV, Jan 7, 2026
- Team page
- tenonfinancial.com/who-we-arereportedpublished by the firm, firm site, Sep 17, 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
- $105Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026