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

Madison Partners

Independent wealth managerMadison, WisconsinCRD 305824SEC 801-118168websiteIAPD
Legal name Madison Wealth Partners, Inc.
Latest filing Sep 15, 2026
First filing on the tape Feb 3, 2020 · 40 filings
SEC status approved since Mar 4, 2020
RAUM
$1.3B
reported, Item 5.F
Discretionary
98%
of RAUM
Private clients
96%
$1.3B individuals and HNW
Advisors
39
registered through the firm on IAPD
RAUM per advisor
$33.4M
derived; firm RAUM over IAPD count
Employees
17
17 advisory (5.B.1)
Offices
26
beyond the principal office
Private funds
0
reported on Schedule D
History
40 filings and snapshots on the tape
RAUM$1.3B as of Jul 8, 2026
Dec 23, 2020$235M then
HNW client RAUM$807M as of Jul 8, 2026
Dec 23, 2020$115M then
State-registered IARs (5.B.3)17 as of Jul 8, 2026
Dec 23, 20203 then
Employees (5.A)17 as of Jul 8, 2026
Dec 23, 20207 then
Private funds: no history
RAUM +19% over the last fiscal year+41% a year over threeIARs 12 to 17offices 4 to 26
Practice profile
derived from the filing of Sep 15, 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
  • Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
RAUM per advisor
$33.4MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
52derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.2MderivedHNW RAUM over HNW clients
Average account
$209,739derivedRAUM over accounts (5.F.2.f)
Discretionary
98%derivedof RAUM
Institutional
3.6%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.4derivedItem 5.A over advisors
Advisors per office
1.4derived27 offices incl. principal (1.F.5)
RAUM growth, one year
+19%derivedbetween the last two annual amendments
Advisor growth, one year
+42%derivedItem 5.B.3 between annual amendments
Client growth, one year
+8.8%derived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, pension consultingreportedItem 5.G
Financial planning clients
500reportedItem 5.H
Custody
$538M, 1,417 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)
  • 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)
  • marketing includes testimonials (5.L.1.c)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$807M62%
  • Individuals$449M34%
  • Pension and profit-sharing plans$46.4M3.6%
  • Charitable organizations$494,6530.0%
Individual clients
1,675reported
HNW clients
367reported
Pension plan clients
35reported
Charitable clients
n/areported
Accounts
6,213reported
Financial planning clients
500reported
Wrap fee programs
noreported
Custody of client assets
$538M for 1,417 clientsreported
Compensation
% of AUMreported
Class basis
private_client_share=0.96 fund_share=0.0 institutional_share=0.04 related_bd= related_bank= bd_reps=0.0derived
Advisors registered through the firm
40 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Mark Peter McfarlandCertified Financial PlannerMadison, Wi Mar 6, 202016 y1
Shane Daniel KielerCertified Financial PlannerMadison, WiMar 6, 202016 y1
George CarpenterBrodhead, Wi Oct 16, 202014 y1
Zachary Thomas KuehlCertified Financial PlannerMadison, WiMay 7, 202114 y1
Coty Allen HainseyCertified Financial PlannerWaunakee, Wi May 14, 202110 y1
Aaron Brandon JohnsonMadison, Wi Sep 27, 202315 y0
Shelley Marie MoffattWaunakee, Wi Dec 15, 202329 y1
John Edward CressCertified Financial PlannerMadison, Wi May 1, 202444 y2
Carsen Daniel StrangMadison, Wi Jun 18, 202412 y0
Carly Christine BurgessWaunakee, Wi Jun 2, 202511 y0
Rosemary BarnesCertified Financial PlannerWausau, Wi Jul 30, 202540 y1
David RoasaMadison, WiSep 3, 202516 y2
Suzanne Rose SorianoMadison, WiSep 9, 202517 y0
Kai B. SchusterMadison, Wi Sep 18, 202511 y2
Aliasgar MithasethNaperville, Il Sep 30, 202510 y0
Ronald Richard DemersMadison, Wi Oct 3, 202512 y3
Mary O MorrowMadison, Wi Oct 29, 202536 y5
Richard Carl PreciousMadison, Wi Nov 20, 202516 y6
Thomas Joseph DohogneCertified Financial PlannerLakespur, Co Dec 5, 202522 y5
Laura Perez NashMadison, Wi Dec 8, 202522 y2
Nathaniel Macon HeddenMadison, Wi Jan 1, 202617 y1
Brian M Ericson-HuneckCertified Financial PlannerMadison, Wi Jan 5, 202614 y0
Eric Daniel HencleyWausau, Wi Jan 6, 202630 y2
Cole Ronald McilroyMadison, WiFeb 3, 202619 y1
Dina Siracusa TupperMadison, Wi Feb 4, 202625 y4
Aidan Michael DonahueMadison, Wi Mar 4, 202611 y1
Yu LiLacey, Wa Apr 17, 202614 y2
Julia Mclean EllisorMadison, Wi Apr 30, 202611 y3
John Louis FrigeriMadison, Wi May 6, 202616 y1
Christopher Ellis MccoyCertified Financial PlannerMadison, Wi May 28, 202612 y4
Paul Joseph ValenteCertified Financial PlannerShelburne, Vt Jun 2, 202617 y3
Altug DincturkChartered Financial AnalystWinter Springs, Fl Jun 3, 202620 y3
Brian Joseph AnaniaCertified Financial PlannerMadison, Wi Jun 9, 202612 y1
Hahna Leah RadaWaunakee, Wi Jul 21, 202616 y0
Andrew Austin PageGladwin, Mi Jul 27, 202628 y3
Mark Stuart SchafferCertified Financial Planner, Chartered Financial ConsultantWashougal, Wa Aug 14, 202631 y10
Keaton H HamiltonColorado Springs, Co Aug 14, 202618 y5
Patrick Ernest IhnkenCertified Financial PlannerMadison, Wi Sep 1, 202611 y2
Daniel MachadoMadison, Wi Sep 4, 202620 y5
Michael D GrossCertified Financial PlannerMadison, Wi Sep 16, 202627 y4
Advisor movement
3 left, 27 joined in 12 months
net +24 in 12 months1 left in 90 days6 joined in 90 daysdeparture rate 7.7% of current headcount5 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
    • Daniel Shane Kieler · Co-Chief Executive Officercontrol
      since 02/2020 · owns 50% to 75%
    • Peter Mark Mcfarland · Co-Chief Executive Officercontrol
      since 02/2020 · owns 50% to 75%
    • Joseph Gery Sadzewicz · Chief Compliance Officer
      since 01/2026 · owns less than 5%
    Related persons
    Schedule D 7.A
    No related person reported.
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Madison, Wi · principal40273
    Waunakee, Wi820
    Wausau, Wi210
    Offices
    Schedule D 1.F, the 25 largest
    • Waunakee, WI4 employees
    • Brodhead, WI1 employees
    • Madison, WI1 employees
    • Manitowoc, WI1 employees
    ADV anomalies
    1 against comparable advisers; where to look, not conclusions
    • office count surgeChange between filings · filing Apr 16, 2026
      offices other than the principal office (Item 1.F.5) moved from 4.0 to 6.0 (+50.0%) between the annual amendments of 2025-03-31 and 2026-04-16; the peer median change was 0.0% (379 comparable advisers, 93.0th percentile of changes)
      peers: independent wealth managers, $1B to $5B (379) · 93% percentile
    How anomalies are measured
    What changed
    consecutive filings, newest first
    • Financial planning clients · More than 500 to More than 500
      Jul 8, 2026 to Sep 14, 2026
    • Other offices · 6 to 26
      Jul 8, 2026 to Sep 14, 2026
    • Related adviser · false to unset
      Jul 8, 2026 to Sep 14, 2026
    • Related bank · false to unset
      Jul 8, 2026 to Sep 14, 2026
    • Related broker-dealer · false to unset
      Jul 8, 2026 to Sep 14, 2026
    • Related insurance company · false to unset
      Jul 8, 2026 to Sep 14, 2026
    • Succession · false to unset
      Jul 8, 2026 to Sep 14, 2026
    • Accounts · 5,779 to 6,213
      Mar 31, 2025 to Dec 23, 2025
    • Advisory employees · 12 to 17
      Mar 31, 2025 to Dec 23, 2025
    • HNW clients · 336 to 367
      Mar 31, 2025 to Dec 23, 2025
    • Individual clients · 1,541 to 1,675
      Mar 31, 2025 to Dec 23, 2025
    • Pension plan clients · 22 to 35
      Mar 31, 2025 to Dec 23, 2025
    • Assets in custody · $483M to $538M
      Mar 31, 2025 to Dec 23, 2025
    • Employees · 16 to 17
      Mar 31, 2025 to Dec 23, 2025
    • State-registered IARs · 12 to 17
      Mar 31, 2025 to Dec 23, 2025
    • Other offices · 4 to 6
      Mar 31, 2025 to Dec 23, 2025
    • Discretionary RAUM · $1.1B to $1.3B
      Mar 31, 2025 to Dec 23, 2025
    • HNW RAUM · $701M to $807M
      Mar 31, 2025 to Dec 23, 2025
    • Individual RAUM · $354M to $449M
      Mar 31, 2025 to Dec 23, 2025
    • Non-discretionary RAUM · $24.6M to $27.2M
      Mar 31, 2025 to Dec 23, 2025
    • Pension RAUM · $38.7M to $46.4M
      Mar 31, 2025 to Dec 23, 2025
    • RAUM · $1.1B to $1.3B
      Mar 31, 2025 to Dec 23, 2025
    • Financial planning clients · More than 500 to More than 500
      Jan 30, 2025 to Mar 31, 2025
    • Accounts · 3,635 to 5,779
      Nov 1, 2024 to Dec 20, 2024
    • Advisory employees · 9 to 12
      Nov 1, 2024 to Dec 20, 2024
    • HNW clients · 207 to 336
      Nov 1, 2024 to Dec 20, 2024
    • Individual clients · 1,061 to 1,541
      Nov 1, 2024 to Dec 20, 2024
    • Pension plan clients · 7 to 22
      Nov 1, 2024 to Dec 20, 2024
    • Assets in custody · $268M to $483M
      Nov 1, 2024 to Dec 20, 2024
    • Employees · 13 to 16
      Nov 1, 2024 to Dec 20, 2024
    • Insurance-licensed employees · 1 to 0
      Nov 1, 2024 to Dec 20, 2024
    • Financial planning clients · 251-500 to More than 500
      Nov 1, 2024 to Dec 20, 2024
    • State-registered IARs · 9 to 12
      Nov 1, 2024 to Dec 20, 2024
    • Discretionary RAUM · $543M to $1.1B
      Nov 1, 2024 to Dec 20, 2024
    • HNW RAUM · $375M to $701M
      Nov 1, 2024 to Dec 20, 2024
    • Individual RAUM · $168M to $354M
      Nov 1, 2024 to Dec 20, 2024
    • Non-discretionary RAUM · $16.0M to $24.6M
      Nov 1, 2024 to Dec 20, 2024
    • Pension RAUM · $16.0M to $38.7M
      Nov 1, 2024 to Dec 20, 2024
    • RAUM · $559M to $1.1B
      Nov 1, 2024 to Dec 20, 2024
    • Advisory employees · 8 to 9
      Mar 7, 2024 to May 1, 2024
    Signals
    12 dated events
    • Michael D Gross registered as an investment adviser representative at Madison Partners
      Sep 16, 2026 · Advisor registered · fact
    • Benjamin L'Empereur left Madison Partners for Ellenbecker Investment Group (registered 2026-07-29)
      Jul 23, 2026 · Advisor changed firm · fact
    • John Cleary left Madison Partners for Usaa Investment Services Company (registered 2026-08-11)
      Jun 9, 2026 · Advisor changed firm · fact
    • Nikita A. Kibardin left Madison Partners for Ellenbecker Investment Group (registered 2026-04-01)
      Mar 20, 2026 · Advisor changed firm · fact
    • Nicholas Richard Simonson left Madison Partners for Cwm, Llc (registered 2025-06-30)
      Jun 20, 2025 · Advisor changed firm · fact
    • Madison Partners reported RAUM $1.1B, up 96% from $559.0M (2024-11-01 to 2024-12-20)
      Dec 20, 2024 · RAUM change · derived
    • David Christopher Masias left Madison Partners for Advice And Planning Services (registered 2024-05-13)
      Jan 12, 2024 · Advisor changed firm · fact
    • Madison Partners reported RAUM $432.9M, up 84% from $235.0M (2021-08-11 to 2021-12-13)
      Dec 13, 2021 · RAUM change · derived
    • Edward Christopher Winn (Chief Compliance Officer) no longer on Schedule A of Madison Partners (listed 2020-02-03, absent 2020-03-06)
      Mar 6, 2020 · Control person left · inference
    • Daniel Shane Kieler (Managing Member / Managing Partner) appeared on Schedule A of Madison Partners
      Mar 6, 2020 · Control person joined · fact
    • Peter Mark Mcfarland (Managing Member / Managing Partner And Chief Compliance Officer) appeared on Schedule A of Madison Partners
      Mar 6, 2020 · Control person joined · fact
    • Madison Partners Llc filed its initial SEC registration (Form ADV)
      Feb 3, 2020 · 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 phone
    281-822-0616reportedpublished by the firm, firm site, Sep 15, 2026
    Business phone
    303-276-0202reportedpublished by the firm, firm site, Sep 15, 2026
    Business phone
    414-786-5619reportedpublished by the firm, firm site, Sep 15, 2026
    Firm profile
    linkedin.com/company/38098317/adminreportedpublic record, Form ADV, Sep 17, 2026
    Website
    themadisonpartners.comreportedpublic record, Form ADV, Sep 17, 2026
    Principal office phone
    608-210-1021reportedpublic record, Form ADV, Sep 15, 2026
    Contact form
    themadisonpartners.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
    Team page
    themadisonpartners.com/teamreportedpublished by the firm, firm site, Sep 15, 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
    $33.4Mderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026