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
Heritage Family Offices, Llp
Latest filing Mar 10, 2026
First filing on the tape Oct 18, 2022 · 9 filings
SEC status approved since Nov 18, 2022
RAUM
$423M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$423M individuals and HNW
Advisors
4
registered through the firm on IAPD
RAUM per advisor
$106M
derived; firm RAUM over IAPD count
Employees
13
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
1
reported on Schedule D
History
9 filings and snapshots on the tape
RAUM$423M as of Mar 10, 2026
Mar 31, 2023$0 then
HNW client RAUM$56.2M as of Mar 10, 2026
Mar 31, 2023$0 then
State-registered IARs (5.B.3)3 as of Mar 10, 2026
Mar 31, 20235 then
Employees (5.A)13 as of Mar 10, 2026
Mar 31, 20235 then
Private funds1 as of Mar 10, 2026
Mar 25, 20241 then
RAUM +3.7% over the last fiscal yearIARs 5 to 3
Practice profile
derived from the filing of Mar 10, 2026; every figure names its basis
Archetypes, each a printed rule
- 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
- Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
- RIA with private funds · a wealth manager (private-client share at least 50 percent) that reports at least one private fund on Schedule D 7.B.(1)
- RAUM per advisor
- $106MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 63derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $702,521derivedHNW RAUM over HNW clients
- Average account
- $400,437derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 3.3derivedItem 5.A over advisors
- Advisors per office
- 4.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +3.7%derivedbetween the last two annual amendments
- Advisor growth, one year
- -40%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +2.5%derived
- Compensation
- percentage of assets, fixed fees, performance-basedreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisersreportedItem 5.G
- Custody
- yesreportedItem 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)
- 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)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Individuals$367M87%
- High-net-worth individuals$56.2M13%
- Individual clients
- 170reported
- HNW clients
- 80reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 1,057reported
- Financial planning clients
- 251-500reported
- Wrap fee programs
- noreported
- Custody of client assets
- $0 for 0 clientsreported
- Compensation
- % of AUM, fixed, performancereported
- 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
4 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Brent James Emch | Scottsdale, Az | Jun 12, 2024 | 12 y | 4 |
| Brian Louis Boll | Scottsdale, Az | Jun 12, 2024 | 29 y | 5 |
| Michael Brent Frost | Scottsdale, Az | Jun 18, 2024 | 19 y | 7 |
| Tyler Robert KarlChartered Financial Analyst | Scottsdale, Az | Oct 21, 2025 | 11 y | 4 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount2 left over 36 months
Left, latest
- David Elgin Maxey to Trek FinancialJun 10, 2025 · RIA to RIA
- Christian Mark Harris to Iht Wealth Management LLCDec 31, 2023 · Other
Joined, latest
- Tyler Robert Karl from Juncture Wealth Strategies, LLCOct 21, 2025 · RIA to RIA
- Brian Louis Boll from Heritage Wealth Management, LLCJun 12, 2024 · RIA to RIA
- David Elgin Maxey from Heritage Wealth Management, LLCMar 15, 2023 · Other
- Brent James Emch from Heritage Wealth Management, LLCFeb 3, 2023 · Other
- Christian Mark Harris from Heritage Wealth Management, LLCFeb 3, 2023 · Other
- Michael Brent Frost from Juncture Wealth Strategies, LLCFeb 3, 2023 · RIA to a newly registered adviser
Teams: two or more advisors moving together within fourteen days, from one state
- 4 joined from Heritage Wealth Management, LLCMar 5, 2024 · Phoenix, Az · Firm absorbed
Private funds
1 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Hfo-Cosmic Spv, LLC | Private Equity Fund | $13.0M | 36 | Mar 25, 2024 |
Owners and control persons
Schedule A and B, latest filing
- Brent Michael Frost · General Partnercontrolsince 10/2022 · owns 25% to 50%
- Elgin David Maxey · General Partner And Chief Compliance Officercontrolsince 10/2022 · owns 10% to 25%
- Erwin Ralph Nelson · General Partnercontrolsince 10/2022 · owns 25% to 50%
Related persons
Schedule D 7.A
- Frost & Associates, LLCreal estaten
- Heritage Insurance Advisors, LLCreal estaten
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Scottsdale, Az · principal | 4 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- advisor count dropChange between filings · filing Mar 10, 2026advisory representatives (Item 5.B.3) moved from 5.0 to 3.0 (-40.0%) between the annual amendments of 2025-03-25 and 2026-03-10; the peer median change was 0.0% (965 comparable advisers, 3.0th percentile of changes)peers: independent wealth managers, $100M to $500M (965) · 2.6% percentile
- HNW share shiftChange between filings · filing Mar 10, 2026HNW share of RAUM moved from 55.0% to 13.0% between the annual amendments of 2025-03-25 and 2026-03-10peers: independent wealth managers, $100M to $500M (5,676)
What changed
consecutive filings, newest first
- Accounts · 831 to 1,057Jun 10, 2025 to Mar 10, 2026
- Advisory employees · 5 to 3Jun 10, 2025 to Mar 10, 2026
- HNW clients · 67 to 80Jun 10, 2025 to Mar 10, 2026
- Individual clients · 177 to 170Jun 10, 2025 to Mar 10, 2026
- Pooled vehicle clients · 1.0 to unsetJun 10, 2025 to Mar 10, 2026
- Assets in custody · $52.4M to $0Jun 10, 2025 to Mar 10, 2026
- Employees · 15 to 13Jun 10, 2025 to Mar 10, 2026
- Financial planning clients · 51-100 to 251-500Jun 10, 2025 to Mar 10, 2026
- State-registered IARs · 5 to 3Jun 10, 2025 to Mar 10, 2026
- Discretionary RAUM · $408M to $423MJun 10, 2025 to Mar 10, 2026
- HNW RAUM · $226M to $56.2MJun 10, 2025 to Mar 10, 2026
- Individual RAUM · $165M to $367MJun 10, 2025 to Mar 10, 2026
- Pooled vehicle RAUM · 15000000.0 to unsetJun 10, 2025 to Mar 10, 2026
- RAUM · $408M to $423MJun 10, 2025 to Mar 10, 2026
- Financial planning clients · 51-100 to 51-100Mar 25, 2025 to Jun 10, 2025
- Accounts · 763 to 831May 30, 2024 to Mar 25, 2025
- HNW clients · 75 to 67May 30, 2024 to Mar 25, 2025
- Individual clients · 225 to 177May 30, 2024 to Mar 25, 2025
- Financial planning clients · 101-250 to 51-100May 30, 2024 to Mar 25, 2025
- Discretionary RAUM · $365M to $408MMay 30, 2024 to Mar 25, 2025
- HNW RAUM · $217M to $226MMay 30, 2024 to Mar 25, 2025
- Individual RAUM · $133M to $165MMay 30, 2024 to Mar 25, 2025
- Pooled vehicle RAUM · $13.0M to $15.0MMay 30, 2024 to Mar 25, 2025
- RAUM · $365M to $408MMay 30, 2024 to Mar 25, 2025
- Accounts · 0 to 763Mar 31, 2023 to Mar 25, 2024
- HNW clients · unset to 75.0Mar 31, 2023 to Mar 25, 2024
- Individual clients · unset to 225.0Mar 31, 2023 to Mar 25, 2024
- Pooled vehicle clients · unset to 1.0Mar 31, 2023 to Mar 25, 2024
- Assets in custody · unset to 52429754.0Mar 31, 2023 to Mar 25, 2024
- Custody of client assets · false to trueMar 31, 2023 to Mar 25, 2024
- Employees · 5 to 15Mar 31, 2023 to Mar 25, 2024
- Insurance-licensed employees · 5 to 0Mar 31, 2023 to Mar 25, 2024
- Financial planning clients · 0 to 101-250Mar 31, 2023 to Mar 25, 2024
- HQ city · PHOENIX to SCOTTSDALEMar 31, 2023 to Mar 25, 2024
- Private funds · unset to 1Mar 31, 2023 to Mar 25, 2024
- Discretionary RAUM · $0 to $365MMar 31, 2023 to Mar 25, 2024
- HNW RAUM · $0 to $217MMar 31, 2023 to Mar 25, 2024
- Individual RAUM · $0 to $133MMar 31, 2023 to Mar 25, 2024
- Pension RAUM · 0.0 to unsetMar 31, 2023 to Mar 25, 2024
- Pooled vehicle RAUM · $0 to $13.0MMar 31, 2023 to Mar 25, 2024
Signals
4 dated events
- David Elgin Maxey left Heritage Family Offices, Llp for Trek Financial (registered 2025-10-10)Jun 10, 2025 · Advisor changed firm · fact
- Heritage Wealth Management, LLC's advisors moved to Heritage Family Offices, LLP (Phoenix, AZ): 4 of 6 registered, on the same dayMar 5, 2024 · Firm absorbed (people side) · derived
- Christian Mark Harris left Heritage Family Offices, Llp for Iht Wealth Management Llc (registered 2024-06-20)Dec 31, 2023 · Advisor changed firm · fact
- Heritage Family Offices, Llp filed its initial SEC registration (Form ADV)Oct 18, 2022 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- Heritage Family Offices, LLP · Family Officesshared crd · office
- Heritage Family Offices, LLP · Independent Sponsorsshared crd · capital_provider
- Heritage Family Offices, LLP · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Business email
- office@heritagefo.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 602-775-5400reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- LINKEDIN.COM/COMPANY/HERITAGE-FAMILY-OFFICES-LLPreportedpublic record, Form ADV, Sep 17, 2026
- Website
- HERITAGEFO.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- (602) 775-5400reportedpublic record, Form ADV, Mar 10, 2026
- Team page
- heritagefo.com/our-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
- $106Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026