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

Rai Wealth

Independent wealth managerNaperville, IllinoisCRD 324695SEC 801-127594website IAPD

Legal name Brown Wealth Management, LLC

Latest filing Mar 11, 2026

First filing on the tape Mar 6, 2023 · 10 filings

SEC status approved since Apr 5, 2023

RAUM

$531M

reported, Item 5.F

Discretionary

89%

of RAUM

Private clients

84%

$446M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$88.5M

derived; firm RAUM over IAPD count

Employees

6 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

10 filings and snapshots on the tape

RAUM$531M as of Mar 11, 2026

Mar 14, 2024$326M then

HNW client RAUM$358M as of Mar 11, 2026

Mar 14, 2024$210M then

State-registered IARs (5.B.3)5 as of Mar 11, 2026

Mar 14, 20245 then

Employees (5.A)12 as of Mar 11, 2026

Mar 14, 20248 then

Private funds: no history

RAUM +30% over the last fiscal yearIARs 5 to 5

Practice profile

derived from the filing of Mar 11, 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

RAUM per advisor: $88.5MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 70derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $2.6MderivedHNW RAUM over HNW clients
Average account: $435,073derivedRAUM over accounts (5.F.2.f)
Discretionary: 89%derivedof RAUM
Institutional: 15%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 2.0derivedItem 5.A over advisors
Advisors per office: 6.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year: +30%derivedbetween the last two annual amendments
Advisor growth, one year: +0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year: +8.9%derived
Compensation: percentage of assets, fixed fees, commissionsreportedItem 5.E
Advisory activities: financial planning, portfolio management for individuals, pension consultingreportedItem 5.G
Custody: $153M, 174 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

is an insurance broker or agent (6.A.6)
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)

Where the RAUM sits

Form ADV Item 5.D, latest filing

High-net-worth individuals$358M67%
Individuals$87.8M17%
Pension and profit-sharing plans$57.8M11%
Charitable organizations$23.2M4.4%
Corporations and businesses$4.0M0.8%

Individual clients: 281reported
HNW clients: 137reported
Pension plan clients: 15reported
Charitable clients: 15reported
Accounts: 1,220reported
Financial planning clients: 101-250reported
Wrap fee programs: noreported
Custody of client assets: $153M for 174 clientsreported
Compensation: % of AUM, fixed, commissionsreported
Class basis: private_client_share=0.84 fund_share=0.0 institutional_share=0.15 related_bd=false related_bank=false bd_reps=2.0derived

Advisors registered through the firm

6 on IAPD today, longest tenure first

Name	Branch	Here since	In industry	Prior firms
Scott Alexander Brown	Naperville, Il	Apr 5, 2023	17 y	3
Melissa Anne ImbrognoCertified Financial Planner	Naperville, Il	Apr 5, 2023	17 y	2
William Scott WestCertified Financial Planner	Naperville, Il	Apr 5, 2023	12 y	2
Gregory Scott AagaardCertified Financial Planner	Naperville, Il	Apr 19, 2023	21 y	4
Tyler Paul JonesChartered Financial Analyst	Naperville, Il	Aug 8, 2023	12 y	0
Jack DykemaCertified Financial Planner	Naperville, Il	Apr 14, 2026	10 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

Gregory Scott Aagaard from Securities America Advisors, Inc.
Apr 19, 2023 · Affiliated broker-dealer or bank to a newly registered adviser
Scott Alexander Brown from Securities America Advisors, Inc.
Apr 5, 2023 · Affiliated broker-dealer or bank to a newly registered adviser
Melissa Anne Imbrogno from Securities America Advisors, Inc.
Apr 5, 2023 · Affiliated broker-dealer or bank to a newly registered adviser
William Scott West from Securities America Advisors, Inc.
Apr 5, 2023 · Affiliated broker-dealer or bank to a newly registered adviser

Every departure Every arrival

Teams: two or more advisors moving together within fourteen days, from one state

4 joined from Securities America Advisors, Inc.
Mar 7, 2023 · Naperville, Il

Teams out Teams in

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

Scott Gregory Aagaard · Owner/Membercontrol
since 11/2014 · owns less than 5%
Alexander Scott Brown · Managing Partnercontrol
since 11/2014 · owns 75% or more
Anne Melissa Imbrogno · Partner & Ccocontrol
since 11/2014 · owns less than 5%
Scott William West · Owner/Membercontrol
since 11/2014 · 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

Office	Advisors	Joined	Left	Teams out	Forming
Naperville, Il · principal	6	1	0

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

What changed

consecutive filings, newest first

Accounts · 1,097 to 1,220
May 2, 2025 to Mar 11, 2026
Charity clients · 12 to 15
May 2, 2025 to Mar 11, 2026
HNW clients · 111 to 137
May 2, 2025 to Mar 11, 2026
Individual clients · 273 to 281
May 2, 2025 to Mar 11, 2026
Pension plan clients · 16 to 15
May 2, 2025 to Mar 11, 2026
Assets in custody · $94.4M to $153M
May 2, 2025 to Mar 11, 2026
Employees · 8 to 12
May 2, 2025 to Mar 11, 2026
Discretionary RAUM · $361M to $473M
May 2, 2025 to Mar 11, 2026
HNW RAUM · $253M to $358M
May 2, 2025 to Mar 11, 2026
Individual RAUM · $84.5M to $87.8M
May 2, 2025 to Mar 11, 2026
Non-discretionary RAUM · $47.9M to $57.8M
May 2, 2025 to Mar 11, 2026
Pension RAUM · $47.9M to $57.8M
May 2, 2025 to Mar 11, 2026
RAUM · $409M to $531M
May 2, 2025 to Mar 11, 2026
Financial planning clients · 101-250 to 101-250
Feb 25, 2025 to May 2, 2025
Accounts · 986 to 1,097
Mar 14, 2024 to Feb 25, 2025
Advisory employees · 5 to 6
Mar 14, 2024 to Feb 25, 2025
Charity clients · 5 to 12
Mar 14, 2024 to Feb 25, 2025
HNW clients · 91 to 111
Mar 14, 2024 to Feb 25, 2025
Individual clients · 275 to 273
Mar 14, 2024 to Feb 25, 2025
Pension plan clients · 10 to 16
Mar 14, 2024 to Feb 25, 2025
Assets in custody · $78.9M to $94.4M
Mar 14, 2024 to Feb 25, 2025
Financial planning clients · 0 to 101-250
Mar 14, 2024 to Feb 25, 2025
Discretionary RAUM · $293M to $361M
Mar 14, 2024 to Feb 25, 2025
HNW RAUM · $210M to $253M
Mar 14, 2024 to Feb 25, 2025
Individual RAUM · $64.6M to $84.5M
Mar 14, 2024 to Feb 25, 2025
Non-discretionary RAUM · $32.7M to $47.9M
Mar 14, 2024 to Feb 25, 2025
Pension RAUM · $32.7M to $47.9M
Mar 14, 2024 to Feb 25, 2025
RAUM · $326M to $409M
Mar 14, 2024 to Feb 25, 2025
RAUM · $242M to $326M
Nov 15, 2023 to Mar 14, 2024
Accounts · 889 to 986
Nov 15, 2023 to Mar 14, 2024
Advisory employees · 4 to 5
Nov 15, 2023 to Mar 14, 2024
BD registered reps · 3 to 2
Nov 15, 2023 to Mar 14, 2024
Charity clients · 3 to 5
Nov 15, 2023 to Mar 14, 2024
Corporate clients · 4 to 2
Nov 15, 2023 to Mar 14, 2024
HNW clients · 57 to 91
Nov 15, 2023 to Mar 14, 2024
Individual clients · 226 to 275
Nov 15, 2023 to Mar 14, 2024
Pension plan clients · 8 to 10
Nov 15, 2023 to Mar 14, 2024
Assets in custody · unset to 78900320.0
Nov 15, 2023 to Mar 14, 2024
Custody of client assets · false to true
Nov 15, 2023 to Mar 14, 2024
State-registered IARs · 4 to 5
Nov 15, 2023 to Mar 14, 2024

Signals

4 dated events

Rai Wealth reported RAUM $530.8M, up 30% from $408.6M (2025-05-02 to 2026-03-11)
Mar 11, 2026 · RAUM change · derived
Scott William West (Owner/Member) appeared on Schedule A of Rai Wealth
May 18, 2023 · Control person joined · fact
4 advisors left Securities America Advisors, Inc. (Naperville, IL) for Rai Wealth on the same day
Mar 7, 2023 · Team lift-out · derived
Rai Wealth filed its initial SEC registration (Form ADV)
Mar 6, 2023 · 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 email: info@raiwealth.comreportedpublished by the firm, firm site, Sep 17, 2026
Business email: operations@raiwealth.comreportedpublished by the firm, firm site, Sep 17, 2026
Business email: amanda@raiwealth.comreportedpublished by the firm, firm site, Sep 17, 2026
Business email: jhogan@raiwealth.comreportedpublished by the firm, firm site, Sep 17, 2026
Business email: kyle@raiwealth.comreportedpublished by the firm, firm site, Sep 17, 2026
Business email: mpeterson@raiwealth.comreportedpublished by the firm, firm site, Sep 17, 2026
Business email: laura@raiwealth.comreportedpublished by the firm, firm site, Sep 17, 2026
Business email: gabe@raiwealth.comreportedpublished by the firm, firm site, Sep 17, 2026
Business phone: 630-560-4886reportedpublished by the firm, firm site, Sep 17, 2026
Business phone: 331-204-5457reportedpublished by the firm, firm site, Sep 17, 2026
Business phone: 630-425-0838reportedpublished by the firm, firm site, Sep 17, 2026
Firm profile: linkedin.com/company/rai-wealth/?trk=company_namereportedpublic record, Form ADV, 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: $88.5Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026