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.

Former SEC-registered adviser

Brm Investment Management LLC

Former SEC-registered adviserCRD 323439SEC 801-126722IAPD
Latest filing Aug 30, 2023
First filing on the tape Sep 12, 2022 · 5 filings
RAUM
$133M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
97%
$129M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
3
3 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
5 filings and snapshots on the tape
RAUM$133M as of Aug 30, 2023
Sep 12, 2022$0 then
HNW client RAUM$98.2M as of Aug 30, 2023
Sep 12, 2022$0 then
State-registered IARs (5.B.3)3 as of Aug 30, 2023
Sep 12, 20221 then
Employees (5.A)3 as of Aug 30, 2023
Sep 12, 20223 then
Private funds: no history
RAUM n/a over the last fiscal year
Practice profile
derived from the filing of Aug 30, 2023; every figure names its basis
RAUM per advisor
$44.3MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
53derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.1MderivedHNW RAUM over HNW clients
Average account
$434,249derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
2.7%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.0derivedItem 5.A over advisors
Advisors per office
1.5derived2 offices incl. principal (1.F.5)
RAUM growth, one year
unknownderivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$98.2M74%
  • Individuals$30.9M23%
  • Pension and profit-sharing plans$3.5M2.7%
  • Corporations and businesses$165,0000.1%
  • Charitable organizations$97,5540.1%
Individual clients
112reported
HNW clients
47reported
Pension plan clients
1reported
Charitable clients
3reported
Accounts
306reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUMreported
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
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
    • Bush William Brown · Chief Executive Officercontrol
      since 09/2022 · owns 50% to 75%
    • Paul Michael Massey · Chief Compliance Officercontrol
      since 09/2022 · owns 25% to 50%
    • Edward William Romans · Partnercontrol
      since 09/2022 · owns 25% to 50%
    Related persons
    Schedule D 7.A
    No related person reported.
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Vero Beach, Fl000
    Offices
    Schedule D 1.F, the 25 largest
    • Cincinnati, OH1 employees
    What changed
    consecutive filings, newest first
    • Accounts · 0 to 306
      Oct 14, 2022 to Mar 10, 2023
    • BD registered reps · 2 to 0
      Oct 14, 2022 to Mar 10, 2023
    • Charity clients · 0 to 3
      Oct 14, 2022 to Mar 10, 2023
    • Corporate clients · 0 to 3
      Oct 14, 2022 to Mar 10, 2023
    • HNW clients · 0 to 47
      Oct 14, 2022 to Mar 10, 2023
    • Individual clients · 0 to 112
      Oct 14, 2022 to Mar 10, 2023
    • Pension plan clients · 0 to 1
      Oct 14, 2022 to Mar 10, 2023
    • State-registered IARs · 1 to 3
      Oct 14, 2022 to Mar 10, 2023
    • Discretionary RAUM · $0 to $133M
      Oct 14, 2022 to Mar 10, 2023
    • HNW RAUM · $0 to $98.2M
      Oct 14, 2022 to Mar 10, 2023
    • Individual RAUM · $0 to $30.9M
      Oct 14, 2022 to Mar 10, 2023
    • Pension RAUM · $0 to $3.5M
      Oct 14, 2022 to Mar 10, 2023
    • RAUM · $0 to $133M
      Oct 14, 2022 to Mar 10, 2023
    Signals
    4 dated events
    • Michael Paul Massey left Brm Investment Management Llc for Formidable Asset Management, Llc (registered 2026-05-26)
      Mar 18, 2024 · Advisor changed firm · fact
    • William Edward Romans left Brm Investment Management Llc for Formidable Asset Management, Llc (registered 2026-04-15)
      Mar 18, 2024 · Advisor changed firm · fact
    • 2 advisors left Brm Investment Management LLC (Vero Beach, FL) for Formidable Asset Management, LLC on the same day
      Mar 18, 2024 · Team lift-out · derived
    • Brm Investment Management Llc filed its initial SEC registration (Form ADV)
      Sep 12, 2022 · 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