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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SEC-registered adviser
T•• I••••••••• A•••••••• L••
Latest filing Jul 1, 2026
First filing on the tape Jul 15, 2021 · 23 filings
SEC status approved since Aug 13, 2021
RAUM
$167M
reported, Item 5.F
Discretionary
81%
of RAUM
Private clients
93%
$155M individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$27.9M
derived; firm RAUM over IAPD count
Employees
6
6 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
23 filings and snapshots on the tape
RAUM$167M as of Jul 1, 2026
Mar 1, 2022$703M then
HNW client RAUM$101M as of Jul 1, 2026
Mar 1, 2022$58.7M then
State-registered IARs (5.B.3)6 as of Jul 1, 2026
Mar 1, 20224 then
Employees (5.A)6 as of Jul 1, 2026
Mar 1, 20225 then
Private funds: no history
RAUM -85% over the last fiscal year-39% a year over threeIARs 7 to 6offices 1 to 2
Practice profile
derived from the filing of Jul 1, 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
- Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
- RAUM per advisor
- $27.9MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 40derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.3MderivedHNW RAUM over HNW clients
- Average account
- $404,660derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 81%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
- 2.0derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- -85%derivedbetween the last two annual amendments
- Advisor growth, one year
- -14%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +3.9%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- portfolio management for individuals, pension consulting, otherreportedItem 5.G
- Wrap fee program
- $166MreportedItem 5.I
- Custody
- $70.8M, 48 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- has custody of client cash or bank accounts (9.A.1.a)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$101M61%
- Individuals$53.6M32%
- Corporations and businesses$12.3M7.3%
- Individual clients
- 161reported
- HNW clients
- 80reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 413reported
- Financial planning clients
- 0reported
- Wrap fee programs
- $0 sponsored, $0 managedreported
- Custody of client assets
- $70.8M for 48 clientsreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=0.93 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
6 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| B••••••• W••••• T•••••• | Denver, Co | Aug 17, 2021 | 28 y | 2 |
| S••••• T••••• B•••••• | White River Junction, Vt | Aug 23, 2021 | 22 y | 3 |
| A•••••• L•••••• | Denver, Co | Aug 23, 2021 | 20 y | 1 |
| D••••• M••• G•••••• | Denver, Co | Feb 14, 2023 | 13 y | 2 |
| T••••• L••• J••• | Denver, Co | Apr 4, 2023 | 23 y | 0 |
| C•••••• T•••• W••• | Burlington, Vt | Nov 5, 2024 | 33 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
- D••••• M••• G•••••• from M•••••• L••••• P•••••• F••••• • S•••• I•••••••••Feb 14, 2023 · Other
- S••••• T••••• B•••••• from C•••••••• I••••••••• R••••••• A•••••••• I•••Aug 23, 2021 · Affiliated broker-dealer or bank to a newly registered adviser
- A•••••• L•••••• from C•••••••• I••••••••• R••••••• A•••••••• I•••Aug 23, 2021 · Affiliated broker-dealer or bank to a newly registered adviser
- B••••••• W••••• T•••••• from C•••••••• I••••••••• R••••••• A•••••••• I•••Aug 17, 2021 · Affiliated broker-dealer or bank to a newly registered adviser
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from C•••••••• I••••••••• R••••••• A•••••••• I•••Aug 24, 2021 · Norwich, Vt
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- T••••••• B•••••••• W••••• · Chief Compliance Officer And Managing Membercontrolsince 07/2021 · owns less than 5%
- R•••••••• E•••••• A• · Membercontrolsince 07/2021 · owns 25% to 50% of R••••••• I•••
- R•••••••• P••••• T•••••• · Membercontrolsince 07/2021 · owns 25% to 50% of R••••••• I•••
- T••••••• B•••••••• W••••• · Membersince 07/2021 · owns F of R••••••• I•••
Entity owners
- R••••••• I••• · Ownerdirect · owns 75% or more
Related persons
Schedule D 7.A
- R••••••• I•••real estatey
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Denver, Co · principal | 6 | 0 | 0 | ||
| White River Junction, Vt | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- West Lebanon, NH1 employees
ADV anomalies
6 against comparable advisers; where to look, not conclusions
- institutional to wealth shiftCombination · filing Mar 31, 2026institutional share fell 15 points or more while private-client share rose 15 points or more. RAUM $1,113,838,194 to $167,124,586, advisors 7 to 6, private clients 232 to 241, offices 1 to 1 (2025-03-03 to 2026-03-31)peers: independent wealth managers, $100M to $500M (5,676)
- institutional asset share shiftChange between filings · filing Mar 31, 2026institutional share of RAUM moved from 88.0% to 7.0% between the annual amendments of 2025-03-03 and 2026-03-31peers: independent wealth managers, $100M to $500M (5,676)
- RAUM down 50 %Change between filings · filing Mar 31, 2026RAUM (Item 5.F) moved from $1,113,838,194 to $167,124,586 (-85.0%) between the annual amendments of 2025-03-03 and 2026-03-31; the peer median change was +15.0% (4550 comparable advisers, 0.0th percentile of changes)peers: independent wealth managers, $100M to $500M (4,550) · 0.1% percentile
- client mix shiftChange between filings · filing Mar 31, 2026private-client share of RAUM moved from 12.0% to 93.0% between the annual amendments of 2025-03-03 and 2026-03-31peers: independent wealth managers, $100M to $500M (5,676)
- discretionary share shiftChange between filings · filing Mar 31, 2026discretionary share of RAUM moved from 10.0% to 81.0% between the annual amendments of 2025-03-03 and 2026-03-31peers: independent wealth managers, $100M to $500M (5,676)
- HNW share shiftChange between filings · filing Mar 31, 2026HNW share of RAUM moved from 8.0% to 61.0% between the annual amendments of 2025-03-03 and 2026-03-31peers: independent wealth managers, $100M to $500M (5,676)
What changed
consecutive filings, newest first
- Other offices · 1 to 2May 21, 2026 to Jul 1, 2026
- Accounts · 534 to 413Jan 21, 2026 to Mar 31, 2026
- Advisory employees · 7 to 6Jan 21, 2026 to Mar 31, 2026
- HNW clients · 63 to 80Jan 21, 2026 to Mar 31, 2026
- Individual clients · 169 to 161Jan 21, 2026 to Mar 31, 2026
- Pension plan clients · 122.0 to unsetJan 21, 2026 to Mar 31, 2026
- Assets in custody · $54.2M to $70.8MJan 21, 2026 to Mar 31, 2026
- Employees · 7 to 6Jan 21, 2026 to Mar 31, 2026
- HQ city · BRATTLEBORO to DENVERJan 21, 2026 to Mar 31, 2026
- HQ state · VT to COJan 21, 2026 to Mar 31, 2026
- State-registered IARs · 7 to 6Jan 21, 2026 to Mar 31, 2026
- Discretionary RAUM · $115M to $136MJan 21, 2026 to Mar 31, 2026
- HNW RAUM · $87.3M to $101MJan 21, 2026 to Mar 31, 2026
- Individual RAUM · $51.2M to $53.6MJan 21, 2026 to Mar 31, 2026
- Non-discretionary RAUM · $999M to $31.6MJan 21, 2026 to Mar 31, 2026
- Pension RAUM · 958979150.0 to unsetJan 21, 2026 to Mar 31, 2026
- RAUM · $1.1B to $167MJan 21, 2026 to Mar 31, 2026
- Financial planning clients · 0 to 0Mar 3, 2025 to Oct 28, 2025
- Accounts · 519 to 534Dec 2, 2024 to Mar 3, 2025
- Advisory employees · 6 to 7Dec 2, 2024 to Mar 3, 2025
- HNW clients · 77 to 63Dec 2, 2024 to Mar 3, 2025
- Individual clients · 156 to 169Dec 2, 2024 to Mar 3, 2025
- Pension plan clients · 113 to 122Dec 2, 2024 to Mar 3, 2025
- Assets in custody · $46.4M to $54.2MDec 2, 2024 to Mar 3, 2025
- Employees · 6 to 7Dec 2, 2024 to Mar 3, 2025
- Financial planning clients · unset to 0Dec 2, 2024 to Mar 3, 2025
- State-registered IARs · 6 to 7Dec 2, 2024 to Mar 3, 2025
- Discretionary RAUM · $91.7M to $115MDec 2, 2024 to Mar 3, 2025
- HNW RAUM · $81.5M to $87.3MDec 2, 2024 to Mar 3, 2025
- Individual RAUM · $38.3M to $51.2MDec 2, 2024 to Mar 3, 2025
- Non-discretionary RAUM · $821M to $999MDec 2, 2024 to Mar 3, 2025
- Pension RAUM · $777M to $959MDec 2, 2024 to Mar 3, 2025
- RAUM · $913M to $1.1BDec 2, 2024 to Mar 3, 2025
- Accounts · 500 to 519Aug 3, 2023 to Mar 11, 2024
- Advisory employees · 4 to 6Aug 3, 2023 to Mar 11, 2024
- HNW clients · 50 to 77Aug 3, 2023 to Mar 11, 2024
- Individual clients · 164 to 156Aug 3, 2023 to Mar 11, 2024
- Pension plan clients · 110 to 113Aug 3, 2023 to Mar 11, 2024
- Assets in custody · $39.1M to $46.4MAug 3, 2023 to Mar 11, 2024
- Employees · 7 to 6Aug 3, 2023 to Mar 11, 2024
Signals
4 dated events
- T•• I••••••••• A•••••••• L•• reported RAUM $167.1M, down 85% from $1.1B (2026-01-21 to 2026-03-31)Mar 31, 2026 · RAUM change · derived
- T•• I••••••••• A•••••••• L•• filed its initial SEC registration (Form ADV)Jul 15, 2021 · First SEC registration · fact
- A Edward Richards (Member) appeared on Schedule A of T•• I••••••••• A•••••••• L••Jul 15, 2021 · Control person joined · fact
- Thomson Peter Richards (Member) appeared on Schedule A of T•• I••••••••• A•••••••• L••Jul 15, 2021 · Control person joined · 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
- agencycontact@therichardsgrp.comreportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 800-200-6016reportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 800-222-6016reportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 802-254-6016reportedpublished by the firm, firm site, Sep 17, 2026
- Website
- therichardsgrp.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 800-222-6016reportedpublic record, Form ADV, Jul 1, 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
- $27.9Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026