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
Echelons Capital, LLC
Latest filing Mar 12, 2026
First filing on the tape Mar 16, 2023 · 13 filings
SEC status approved since Apr 18, 2023
RAUM
$174M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
89%
$156M individuals and HNW
Advisors
2
registered through the firm on IAPD
RAUM per advisor
$87.2M
derived; firm RAUM over IAPD count
Employees
2
2 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
13 filings and snapshots on the tape
RAUM$174M as of Mar 12, 2026
Feb 9, 2024$130M then
HNW client RAUM$148M as of Mar 12, 2026
Feb 9, 2024$72.6M then
State-registered IARs (5.B.3)2 as of Mar 12, 2026
Feb 9, 20241 then
Employees (5.A)2 as of Mar 12, 2026
Feb 9, 20242 then
Private funds: no history
RAUM +37% over the last fiscal yearIARs 1 to 2offices 0 to 1
Practice profile
derived from the filing of Mar 12, 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
- RAUM per advisor
- $87.2MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 17derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $8.2MderivedHNW RAUM over HNW clients
- Average account
- $1.1MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%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
- 1.0derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +37%derivedbetween the last two annual amendments
- Advisor growth, one year
- +100%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +17%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 5.G
- Custody
- $20,000, 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$148M85%
- Corporations and businesses$18.4M11%
- Individuals$7.5M4.3%
- Individual clients
- 16reported
- HNW clients
- 18reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 164reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $20,000 for 1 clientsreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=0.89 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
2 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| John Patrick Rudio | Park City, Ut | Aug 10, 2023 | 11 y | 1 |
| Brett Thomas Leahy | Park City, Ut | Aug 25, 2025 | 14 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
- John Patrick Rudio from Phase Line Capital, LLCAug 10, 2023 · RIA to RIA
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Thomas Brett Leahy · Partner And Cco/Coocontrolsince 01/2023 · owns 25% to 50%
- Patrick John Rudio · Partnercontrolsince 01/2023 · owns 75% or more
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 |
|---|---|---|---|---|---|
| Park City, Ut · principal | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
3 against comparable advisers; where to look, not conclusions
- client mix shiftChange between filings · filing Mar 12, 2026private-client share of RAUM moved from 62.0% to 89.0% between the annual amendments of 2025-03-15 and 2026-03-12peers: independent wealth managers, $100M to $500M (5,676)
- HNW share shiftChange between filings · filing Mar 12, 2026HNW share of RAUM moved from 58.0% to 85.0% between the annual amendments of 2025-03-15 and 2026-03-12peers: independent wealth managers, $100M to $500M (5,676)
- RAUM up 25 %Change between filings · filing Mar 12, 2026RAUM (Item 5.F) moved from $127,100,399 to $174,388,110 (+37.0%) between the annual amendments of 2025-03-15 and 2026-03-12; the peer median change was +15.0% (4551 comparable advisers, 91.0th percentile of changes)peers: independent wealth managers, $100M to $500M (4,551) · 91% percentile
What changed
consecutive filings, newest first
- Accounts · 128 to 164Nov 25, 2025 to Mar 12, 2026
- Advisory employees · 1 to 2Nov 25, 2025 to Mar 12, 2026
- Corporate clients · 3 to 2Nov 25, 2025 to Mar 12, 2026
- HNW clients · 11 to 18Nov 25, 2025 to Mar 12, 2026
- Individual clients · 18 to 16Nov 25, 2025 to Mar 12, 2026
- Assets in custody · $5.0M to $20,000Nov 25, 2025 to Mar 12, 2026
- State-registered IARs · 1 to 2Nov 25, 2025 to Mar 12, 2026
- Discretionary RAUM · $127M to $174MNov 25, 2025 to Mar 12, 2026
- HNW RAUM · $73.7M to $148MNov 25, 2025 to Mar 12, 2026
- Individual RAUM · $5.5M to $7.5MNov 25, 2025 to Mar 12, 2026
- RAUM · $127M to $174MNov 25, 2025 to Mar 12, 2026
- Succession · false to trueNov 25, 2025 to Mar 12, 2026
- Financial planning clients · 0 to 0Jul 23, 2025 to Nov 25, 2025
- Advisory activities · 3 to 4Mar 15, 2025 to Jul 23, 2025
- Other offices · 0 to 1Mar 15, 2025 to Jul 23, 2025
- Accounts · 105 to 128Jul 12, 2024 to Mar 15, 2025
- Corporate clients · 2 to 3Jul 12, 2024 to Mar 15, 2025
- HNW clients · 10 to 11Jul 12, 2024 to Mar 15, 2025
- Individual clients · 19 to 18Jul 12, 2024 to Mar 15, 2025
- Assets in custody · $10.1M to $5.0MJul 12, 2024 to Mar 15, 2025
- Discretionary RAUM · $130M to $127MJul 12, 2024 to Mar 15, 2025
- HNW RAUM · $72.6M to $73.7MJul 12, 2024 to Mar 15, 2025
- Individual RAUM · $5.4M to $5.5MJul 12, 2024 to Mar 15, 2025
- RAUM · $130M to $127MJul 12, 2024 to Mar 15, 2025
- BD registered reps · 1 to 0Apr 1, 2024 to Jul 12, 2024
- Accounts · 109 to 105Nov 22, 2023 to Feb 9, 2024
- Corporate clients · 1 to 2Nov 22, 2023 to Feb 9, 2024
- HNW clients · 19 to 10Nov 22, 2023 to Feb 9, 2024
- Individual clients · 26 to 19Nov 22, 2023 to Feb 9, 2024
- Assets in custody · unset to 10115514.0Nov 22, 2023 to Feb 9, 2024
- Custody of client assets · false to trueNov 22, 2023 to Feb 9, 2024
- Insurance-licensed employees · 1 to 0Nov 22, 2023 to Feb 9, 2024
- Discretionary RAUM · $118M to $130MNov 22, 2023 to Feb 9, 2024
- HNW RAUM · $112M to $72.6MNov 22, 2023 to Feb 9, 2024
- Individual RAUM · $6.8M to $5.4MNov 22, 2023 to Feb 9, 2024
- RAUM · $118M to $130MNov 22, 2023 to Feb 9, 2024
- RAUM · $0 to $118MJul 12, 2023 to Aug 10, 2023
- Accounts · 0 to 109Jul 12, 2023 to Aug 10, 2023
- Corporate clients · unset to 1.0Jul 12, 2023 to Aug 10, 2023
- HNW clients · unset to 19.0Jul 12, 2023 to Aug 10, 2023
Signals
2 dated events
- Echelons Capital, Llc reported succeeding to the business of Echelons Capital, Llc (Form ADV Item 4)Mar 12, 2026 · Succession (Item 4) · fact
- Echelons Capital, Llc filed its initial SEC registration (Form ADV)Mar 16, 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
- Website
- echelonscapital.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 706-372-4218reportedpublic record, Form ADV, Mar 12, 2026
- Contact form
- echelonscapital.com/contact-usreportedpublished by the firm, firm site, Sep 16, 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
- $87.2Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026