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
W••••••• W••••• M•••••••••
Legal name W••••••• W••••• M••••••••• L••
Latest filing Mar 10, 2026
First filing on the tape Nov 26, 2024 · 6 filings
SEC status approved since Jan 3, 2025
RAUM
$195M
reported, Item 5.F
Discretionary
34%
of RAUM
Private clients
66%
$129M individuals and HNW
Advisors
4
registered through the firm on IAPD
RAUM per advisor
$48.8M
derived; firm RAUM over IAPD count
Employees
4
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
6 filings and snapshots on the tape
RAUM$195M as of Mar 10, 2026
Jan 30, 2025$0 then
HNW client RAUM$92.8M as of Mar 10, 2026
Mar 31, 2025$70.0M then
State-registered IARs (5.B.3)4 as of Mar 10, 2026
Jan 30, 20254 then
Employees (5.A)4 as of Mar 10, 2026
Jan 30, 20254 then
Private funds: no history
RAUM +22% over the last fiscal yearIARs 4 to 4
Practice profile
derived from the filing of Mar 10, 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
- Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
- RAUM per advisor
- $48.8MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 136derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.8MderivedHNW RAUM over HNW clients
- Average account
- $128,184derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 34%derivedof RAUM
- Institutional
- 34%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 4.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +22%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +44%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisers, otherreportedItem 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$92.8M47%
- Pension and profit-sharing plans$66.7M34%
- Individuals$35.9M18%
- Individual clients
- 492reported
- HNW clients
- 51reported
- Pension plan clients
- 32reported
- Charitable clients
- n/areported
- Accounts
- 1,524reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=0.66 fund_share=0.0 institutional_share=0.34 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 |
|---|---|---|---|---|
| A•••••••• M•••••• K•••••Certified Financial Planner | Phoenix, Az | Jan 3, 2025 | 23 y | 4 |
| D•••• P••• F••••• | Phoenix, Az | Jan 3, 2025 | 22 y | 3 |
| J•••••• R••• S••••••Certified Financial Planner | Phoenix, Az | Jan 3, 2025 | 18 y | 1 |
| A•••••• M•••••• P•••• | Phoenix, Az | Jan 3, 2025 | 14 y | 2 |
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
- A•••••••• M•••••• K••••• from N••• F•••••••• G••••• I•••Jan 3, 2025 · Affiliated broker-dealer or bank to a newly registered adviser
- D•••• P••• F••••• from N••• F•••••••• G••••• I•••Jan 3, 2025 · Affiliated broker-dealer or bank to a newly registered adviser
- J•••••• R••• S•••••• from N••• F•••••••• G••••• I•••Jan 3, 2025 · Affiliated broker-dealer or bank to a newly registered adviser
- A•••••• M•••••• P•••• from N••• F•••••••• G••••• I•••Jan 3, 2025 · Affiliated broker-dealer or bank to a newly registered adviser
Teams: two or more advisors moving together within fourteen days, from one state
- 4 joined from N••• F•••••••• G••••• I•••Jan 6, 2025 · Phoenix, Az
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- F•••••• D••••• P••• · Partnercontrolsince 06/2013 · owns 25% to 50%
- K•••••• A••••••••• M•••••• · Partnercontrolsince 06/2013 · owns 25% to 50%
- S••••••• J••••••• R••• · Partner And Chief Compliance Officercontrolsince 06/2013 · 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
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Phoenix, Az · principal | 4 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
4 against comparable advisers; where to look, not conclusions
- wealth to institutional shiftCombination · filing Mar 10, 2026private-client share fell 15 points or more while institutional share rose 15 points or more. RAUM $160,000,000 to $195,353,027, advisors 4 to 4, private clients 377 to 543, offices 0 to 0 (2025-03-31 to 2026-03-10)peers: independent wealth managers, $100M to $500M (5,676)
- account count surgeChange between filings · filing Mar 10, 2026accounts (Item 5.F.2.f) moved from 541.0 to 1,524.0 (+182.0%) between the annual amendments of 2025-03-31 and 2026-03-10; the peer median change was +5.0% (3687 comparable advisers, 99.0th percentile of changes)peers: independent wealth managers, $100M to $500M (3,687) · 99% percentile
- client mix shiftChange between filings · filing Mar 10, 2026private-client share of RAUM moved from 91.0% to 66.0% between the annual amendments of 2025-03-31 and 2026-03-10peers: independent wealth managers, $100M to $500M (5,676)
- institutional asset share shiftChange between filings · filing Mar 10, 2026institutional share of RAUM moved from 9.0% to 34.0% between the annual amendments of 2025-03-31 and 2026-03-10peers: independent wealth managers, $100M to $500M (5,676)
What changed
consecutive filings, newest first
- Accounts · 541 to 1,524Jun 9, 2025 to Mar 10, 2026
- HNW clients · 35 to 51Jun 9, 2025 to Mar 10, 2026
- Individual clients · 342 to 492Jun 9, 2025 to Mar 10, 2026
- Pension plan clients · 14 to 32Jun 9, 2025 to Mar 10, 2026
- Discretionary RAUM · $36.0M to $65.8MJun 9, 2025 to Mar 10, 2026
- HNW RAUM · $70.0M to $92.8MJun 9, 2025 to Mar 10, 2026
- Individual RAUM · $75.0M to $35.9MJun 9, 2025 to Mar 10, 2026
- Non-discretionary RAUM · $124M to $130MJun 9, 2025 to Mar 10, 2026
- Pension RAUM · $15.0M to $66.7MJun 9, 2025 to Mar 10, 2026
- RAUM · $160M to $195MJun 9, 2025 to Mar 10, 2026
- Advisory activities · 2 to 5Mar 31, 2025 to Jun 9, 2025
- Financial planning clients · unset to Mar 31, 2025 to Jun 9, 2025
- Accounts · 0 to 541Jan 30, 2025 to Mar 31, 2025
- HNW clients · unset to 35.0Jan 30, 2025 to Mar 31, 2025
- Individual clients · unset to 342.0Jan 30, 2025 to Mar 31, 2025
- Pension plan clients · unset to 14.0Jan 30, 2025 to Mar 31, 2025
- Discretionary RAUM · $0 to $36.0MJan 30, 2025 to Mar 31, 2025
- HNW RAUM · unset to 70000000.0Jan 30, 2025 to Mar 31, 2025
- Individual RAUM · unset to 75000000.0Jan 30, 2025 to Mar 31, 2025
- Non-discretionary RAUM · $0 to $124MJan 30, 2025 to Mar 31, 2025
- Pension RAUM · unset to 15000000.0Jan 30, 2025 to Mar 31, 2025
- RAUM · $0 to $160MJan 30, 2025 to Mar 31, 2025
- Advisory activities · 1 to 2Dec 10, 2024 to Jan 30, 2025
- Business name · W••••••• W••••• to W••••••• W••••• M•••••••••Nov 26, 2024 to Dec 10, 2024
Signals
2 dated events
- 4 advisors left N••• F•••••••• G••••• I••• (Phoenix, AZ) for W••••••• W••••• M••••••••• on the same dayJan 6, 2025 · Team lift-out · derived
- W••••••• W••••• filed its initial SEC registration (Form ADV)Nov 26, 2024 · 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
- i•••@w•••••••••.comreportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 602-887-5179reportedpublished by the firm, firm site, Sep 17, 2026
- Firm profile
- linkedin.com/company/watermark-wealth-managementreportedpublic record, Form ADV, Sep 18, 2026
- Website
- w•••••••••.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 602-887-5179reportedpublic record, Form ADV, Mar 10, 2026
- Contact form
- w•••••••••.comreportedpublished by the firm, firm site, 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
- $48.8Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026