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
The Invictus Collective, LLC
Latest filing Sep 15, 2026
First filing on the tape Apr 13, 2021 · 26 filings
SEC status approved since May 12, 2021
RAUM
$476M
reported, Item 5.F
Discretionary
25%
of RAUM
Private clients
99%
$471M individuals and HNW
Advisors
4
registered through the firm on IAPD
RAUM per advisor
$119M
derived; firm RAUM over IAPD count
Employees
7
3 advisory (5.B.1)
Offices
4
beyond the principal office
Private funds
0
reported on Schedule D
History
26 filings and snapshots on the tape
RAUM$476M as of Jun 30, 2026
Mar 9, 2022$292M then
HNW client RAUM$471M as of Jun 30, 2026
Mar 9, 2022$284M then
State-registered IARs (5.B.3)2 as of Jun 30, 2026
Mar 9, 20225 then
Employees (5.A)5 as of Jun 30, 2026
Mar 9, 20225 then
Private funds1 as of Jun 30, 2026
Feb 29, 20241 then
RAUM +19% over the last fiscal year+20% a year over threeIARs 2 to 3offices 3 to 4
Practice profile
derived from the filing of Sep 15, 2026; every figure names its basis
Archetypes, each a printed rule
- UHNW private wealth · private-client share at least 50 percent, HNW at least 90 percent of private-client RAUM, and average HNW client assets at least $10M
- RAUM per advisor
- $119MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $29.5MderivedHNW RAUM over HNW clients
- Average account
- $5.4MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 25%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.8derivedItem 5.A over advisors
- Advisors per office
- 0.8derived5 offices incl. principal (1.F.5)
- RAUM growth, one year
- +19%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, selection of other advisersreportedItem 5.G
- Custody
- $2.0M, 1 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)
- 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
- High-net-worth individuals$471M99%
- Corporations and businesses$4.6M1.0%
- Individual clients
- n/areported
- HNW clients
- 16reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 88reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- $2.0M for 1 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.99 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
4 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Robert Dean BowerChartered Financial Analyst | Park Ridge, Il | Jan 1, 2026 | 11 y | 0 |
| Connor James HickeyChartered Financial Analyst | Park Ridge, Il | May 12, 2026 | 17 y | 0 |
| Travis ArmyChartered Financial Analyst | Boston, Ma | Jun 9, 2026 | 10 y | 0 |
| Joshua David Gerry | Park Ridge, Il | Sep 11, 2026 | 30 y | 1 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days1 joined in 90 daysdeparture rate 0.0% of current headcount3 left over 36 months
Left, latest
- Trent Allen Thorbahn to Cibc Private Wealth Advisors, Inc.Feb 21, 2025 · RIA to affiliated broker-dealer or bank
- Leslie Joan Cannon to Cresset Asset Management, LLCApr 1, 2024 · RIA to RIA
- Dennis G O'Malley to Spiderrock Advisors, LLCNov 1, 2023 · Other
- Sarah Elizabeth Damsgaard to Morgan StanleyJul 18, 2023 · RIA to wirehouse
- Justina Irene Nevel to Morgan StanleyJul 18, 2023 · RIA to wirehouse
Joined, latest
- Joshua David Gerry from LPL Financial LLCSep 11, 2026 · Affiliated broker-dealer or bank to independent RIA
- Trent Allen Thorbahn from Zacks Investment Management, Inc.Feb 21, 2024 · RIA to RIA
- Dennis G O'Malley from Rothschild Wealth LLCJul 19, 2023 · RIA to RIA
- Justina Irene Nevel from UBS Financial Services Inc.May 25, 2021 · Wirehouse to a newly registered adviser (no RAUM reported yet)
- Leslie Joan Cannon from J.P. Morgan Securities LLCMay 21, 2021 · Wirehouse to a newly registered adviser (no RAUM reported yet)
- Sarah Elizabeth Damsgaard from J.P. Morgan Securities LLCMay 21, 2021 · Wirehouse to a newly registered adviser (no RAUM reported yet)
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from J.P. Morgan Securities LLCMay 27, 2021 · Chicago, Il
Private funds
1 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Invictus Proprietary Opportunity Fund 1 LLC | Private Equity Fund | $2.0M | 11 | Oct 19, 2023 |
Owners and control persons
Schedule A and B, latest filing
- Dean Robert Bower · Chief Investment Officercontrolsince 01/2022 · owns less than 5%
- Christian Habitz · Founder, Managing Membercontrolsince 05/2021 · owns 75% or more
- Allen Trent Thorbahn · Chief Compliance Officer, Chief Operating Officercontrolsince 02/2024 · owns less than 5%
Related persons
Schedule D 7.A
- Invictus Private Group 1 LLCpooled vehicle sponsorn
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Park Ridge, Il · principal | 4 | 4 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Park City, UT1 employees
- , 1 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- unusually large average accountStatic outlier · filing Sep 15, 2026RAUM per account of $5,408,957 against a peer median of $440,397 (5431 comparable advisers, 100.0th percentile, 3.4 robust deviations)peers: independent wealth managers, $100M to $500M (5,431) · 100% percentile
What changed
consecutive filings, newest first
- Advisory employees · 2 to 3Jun 30, 2026 to Sep 15, 2026
- Employees · 5 to 7Jun 30, 2026 to Sep 15, 2026
- Financial planning clients · 1-10 to 1-10Jun 30, 2026 to Sep 15, 2026
- State-registered IARs · 2 to 3Jun 30, 2026 to Sep 15, 2026
- Other offices · 3 to 4Jun 30, 2026 to Sep 15, 2026
- Private funds · 1 to unsetJun 30, 2026 to Sep 15, 2026
- Succession · false to unsetJun 30, 2026 to Sep 15, 2026
- Accounts · 112 to 88Dec 23, 2025 to Mar 20, 2026
- Pooled vehicle clients · 1.0 to unsetDec 23, 2025 to Mar 20, 2026
- Employees · 3 to 5Dec 23, 2025 to Mar 20, 2026
- Discretionary RAUM · $139M to $120MDec 23, 2025 to Mar 20, 2026
- HNW RAUM · $392M to $471MDec 23, 2025 to Mar 20, 2026
- Non-discretionary RAUM · $260M to $356MDec 23, 2025 to Mar 20, 2026
- Pooled vehicle RAUM · 2025000.0 to unsetDec 23, 2025 to Mar 20, 2026
- RAUM · $399M to $476MDec 23, 2025 to Mar 20, 2026
- Employees · 2 to 3Mar 17, 2025 to Dec 23, 2025
- Accounts · 87 to 112Jul 10, 2024 to Mar 17, 2025
- Advisory employees · 4 to 2Jul 10, 2024 to Mar 17, 2025
- Corporate clients · 2.0 to unsetJul 10, 2024 to Mar 17, 2025
- HNW clients · 13 to 16Jul 10, 2024 to Mar 17, 2025
- Individual clients · 1.0 to unsetJul 10, 2024 to Mar 17, 2025
- Assets in custody · $10.8M to $2.0MJul 10, 2024 to Mar 17, 2025
- Employees · 4 to 2Jul 10, 2024 to Mar 17, 2025
- Financial planning clients · 1-10 to 1-10Jul 10, 2024 to Mar 17, 2025
- State-registered IARs · 4 to 2Jul 10, 2024 to Mar 17, 2025
- Discretionary RAUM · $74.6M to $139MJul 10, 2024 to Mar 17, 2025
- HNW RAUM · $300M to $392MJul 10, 2024 to Mar 17, 2025
- Individual RAUM · 874200.0 to unsetJul 10, 2024 to Mar 17, 2025
- Non-discretionary RAUM · $234M to $260MJul 10, 2024 to Mar 17, 2025
- RAUM · $308M to $399MJul 10, 2024 to Mar 17, 2025
- Accounts · 199 to 87Nov 10, 2023 to Feb 29, 2024
- Advisory employees · 5 to 4Nov 10, 2023 to Feb 29, 2024
- Corporate clients · 1 to 2Nov 10, 2023 to Feb 29, 2024
- HNW clients · 16 to 13Nov 10, 2023 to Feb 29, 2024
- Individual clients · 7 to 1Nov 10, 2023 to Feb 29, 2024
- Assets in custody · $14.2M to $10.8MNov 10, 2023 to Feb 29, 2024
- Employees · 5 to 4Nov 10, 2023 to Feb 29, 2024
- State-registered IARs · 5 to 4Nov 10, 2023 to Feb 29, 2024
- Other offices · 2 to 3Nov 10, 2023 to Feb 29, 2024
- Discretionary RAUM · $113M to $74.6MNov 10, 2023 to Feb 29, 2024
Signals
16 dated events
- Trent Allen Thorbahn left The Invictus Collective, Llc for Cibc Private Wealth Advisors, Inc. (registered 2025-07-08)Feb 21, 2025 · Advisor changed firm · fact
- Joan Leslie Cannon (Director Of Client Relations And Chief Compliance Officer) no longer on Schedule A of The Invictus Collective, Llc (listed 2024-02-29, absent 2024-04-25)Apr 25, 2024 · Control person left · inference
- Leslie Joan Cannon left The Invictus Collective, Llc for Cresset Asset Management, Llc (registered 2024-05-21)Apr 1, 2024 · Advisor changed firm · fact
- Allen Trent Thorbahn (Chief Operating Officer) appeared on Schedule A of The Invictus Collective, LlcFeb 29, 2024 · Control person joined · fact
- G Dennis O'Malley (Director Of Operations, Deputy Chief Investment Officer) no longer on Schedule A of The Invictus Collective, Llc (listed 2023-10-19, absent 2023-11-10)Nov 10, 2023 · Control person left · inference
- Dennis G O'Malley left The Invictus Collective, Llc for Spiderrock Advisors, Llc (registered 2024-06-20)Nov 1, 2023 · Advisor changed firm · fact
- G Dennis O'Malley (Director Of Operations, Deputy Chief Investment Officer) appeared on Schedule A of The Invictus Collective, LlcAug 15, 2023 · Control person joined · fact
- Elizabeth Sarah Damsgaard (Co-Founder, Managing Member) no longer on Schedule A of The Invictus Collective, Llc (listed 2023-05-03, absent 2023-08-15)Aug 15, 2023 · Control person left · inference
- Justina Irene Nevel left The Invictus Collective, Llc for Morgan Stanley (registered 2023-07-17)Jul 18, 2023 · Advisor changed firm · fact
- Sarah Elizabeth Damsgaard left The Invictus Collective, Llc for Morgan Stanley (registered 2023-07-17)Jul 18, 2023 · Advisor changed firm · fact
- The Invictus Collective, Llc reported RAUM $292.2M, up 166% from $110.1M (2021-09-09 to 2022-03-09)Mar 9, 2022 · RAUM change · derived
- Leslie Cannon (Director Of Client Relations And Chief Compliance Officer) appeared on Schedule A of The Invictus Collective, LlcMay 21, 2021 · Control person joined · fact
- William Alexander Hansen (Chief Compliance Officer) no longer on Schedule A of The Invictus Collective, Llc (listed 2021-04-13, absent 2021-05-21)May 21, 2021 · Control person left · inference
- Christian Habitz (Managing Member) appeared on Schedule A of The Invictus Collective, LlcMay 21, 2021 · Control person joined · fact
- Elizabeth Sarah Damsgaard (Managing Partner) appeared on Schedule A of The Invictus Collective, LlcMay 21, 2021 · Control person joined · fact
- Merle Advisors, Llc filed its initial SEC registration (Form ADV)Apr 13, 2021 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- The Invictus Collective, LLC · Independent Sponsorsshared crd · capital_provider
- The Invictus Collective, LLC · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Business email
- info@theinvictuscollective.comreportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 866-636-3468reportedpublished by the firm, firm site, Sep 17, 2026
- Firm profile
- linkedin.com/company/the-invictus-collectivereportedpublic record, Form ADV, Sep 17, 2026
- Website
- TheInvictusCollective.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- (866) 636-3468reportedpublic record, Form ADV, Sep 15, 2026
- Contact form
- theinvictuscollective.com/contactreportedpublished by the firm, firm site, Sep 17, 2026
- Team page
- theinvictuscollective.com/teamreportedpublished 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
- $119Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026