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

Horan Wealth Management

Former SEC-registered adviserCincinnati, OhioCRD 40794SEC 801-107181websiteIAPD
Legal name Horan Securities, Inc.
Latest filing Mar 29, 2025
First filing on the tape Jan 14, 2016 · 54 filings
SEC status approved since Feb 18, 2016
RAUM
$698M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
97%
$679M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
27
10 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
54 filings and snapshots on the tape
RAUM$698M as of Mar 29, 2025
Feb 1, 2017$156M then
HNW client RAUM$385M as of Mar 29, 2025
Feb 5, 2018$41.6M then
State-registered IARs (5.B.3)11 as of Mar 29, 2025
Feb 1, 20178 then
Employees (5.A)27 as of Mar 29, 2025
Feb 1, 201713 then
Private funds: no history
RAUM +28% over the last fiscal year+11% a year over threeIARs 12 to 11
Practice profile
derived from the filing of Mar 29, 2025; every figure names its basis
RAUM per advisor
$63.5MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
134derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.4MderivedHNW RAUM over HNW clients
Average account
$311,016derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
2.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
2.5derivedItem 5.A over advisors
Advisors per office
5.5derived2 offices incl. principal (1.F.5)
RAUM growth, one year
+28%derivedbetween the last two annual amendments
Advisor growth, one year
-8.3%derivedItem 5.B.3 between annual amendments
Client growth, one year
+53%derived
Compensation
percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, pension consulting, publications, educational seminarsreportedItem 5.G
Custody
$40.2M, 115 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 a broker-dealer (6.A.1)
  • 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$385M55%
  • Individuals$293M42%
  • Charitable organizations$17.3M2.5%
  • Pension and profit-sharing plans$2.2M0.3%
  • Corporations and businesses$49,7780.0%
Individual clients
1,200reported
HNW clients
275reported
Pension plan clients
8reported
Charitable clients
2reported
Accounts
2,245reported
Financial planning clients
1-10reported
Wrap fee programs
noreported
Custody of client assets
$40.2M for 115 clientsreported
Compensation
% of AUM, fixed, hourlyreported
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
    • Gregory Leo Hoernschemeyer · Vice President/Reg Repcontrol
      since 12/2018 · owns less than 5%
    • Terence Lee Horan · Presidentcontrol
      since 07/1997 · owns 75% or more
    • Michael Dunlap Napier · Vice President/ Reg Repcontrol
      since 10/2017 · owns 5% to 10%
    • Connie Sue Grosser · Chief Compliance Officer
      since 10/2023 · owns less than 5%
    • Michael Jason Reynolds · Chief Financial Officer
      since 02/2024 · owns less than 5%
    • Geoffrey Edward Solomon · Vice President
      since 02/2020 · owns less than 5%
    Related persons
    Schedule D 7.A
    Advisers that list Horan Wealth Management as a related person
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Cincinnati, Oh · principal000
    Offices
    Schedule D 1.F, the 25 largest
    • Fort Mitchell, KY4 employees
    What changed
    consecutive filings, newest first
    • Accounts · 2,212 to 2,245
      Feb 10, 2025 to Mar 29, 2025
    • HNW clients · 197 to 275
      Feb 10, 2025 to Mar 29, 2025
    • Individual clients · 770 to 1,200
      Feb 10, 2025 to Mar 29, 2025
    • Pension plan clients · 1 to 8
      Feb 10, 2025 to Mar 29, 2025
    • Assets in custody · $293M to $40.2M
      Feb 10, 2025 to Mar 29, 2025
    • Financial planning clients · 1-10 to 1-10
      Feb 10, 2025 to Mar 29, 2025
    • Discretionary RAUM · $540M to $697M
      Feb 10, 2025 to Mar 29, 2025
    • HNW RAUM · $316M to $385M
      Feb 10, 2025 to Mar 29, 2025
    • Individual RAUM · $213M to $293M
      Feb 10, 2025 to Mar 29, 2025
    • Non-discretionary RAUM · $5.0M to $1.2M
      Feb 10, 2025 to Mar 29, 2025
    • Pension RAUM · $432,372 to $2.2M
      Feb 10, 2025 to Mar 29, 2025
    • RAUM · $545M to $698M
      Feb 10, 2025 to Mar 29, 2025
    • Related broker-dealer · true to false
      Feb 10, 2025 to Mar 29, 2025
    • Advisory employees · 9 to 10
      Mar 29, 2024 to Sep 30, 2024
    • BD registered reps · 25 to 23
      Mar 29, 2024 to Sep 30, 2024
    • Assets in custody · unset to 293096401.0
      Mar 29, 2024 to Sep 30, 2024
    • Custody of client assets · false to true
      Mar 29, 2024 to Sep 30, 2024
    • Employees · 25 to 27
      Mar 29, 2024 to Sep 30, 2024
    • State-registered IARs · 12 to 11
      Mar 29, 2024 to Sep 30, 2024
    • Accounts · 2,466 to 2,212
      Nov 7, 2023 to Mar 29, 2024
    • Charity clients · 0 to 2
      Nov 7, 2023 to Mar 29, 2024
    • Corporate clients · 2 to 1
      Nov 7, 2023 to Mar 29, 2024
    • HNW clients · 545 to 197
      Nov 7, 2023 to Mar 29, 2024
    • Individual clients · 1,919 to 770
      Nov 7, 2023 to Mar 29, 2024
    • Pension plan clients · 0 to 1
      Nov 7, 2023 to Mar 29, 2024
    • Financial planning clients · 11-25 to 1-10
      Nov 7, 2023 to Mar 29, 2024
    • Discretionary RAUM · $505M to $540M
      Nov 7, 2023 to Mar 29, 2024
    • HNW RAUM · $263M to $316M
      Nov 7, 2023 to Mar 29, 2024
    • Individual RAUM · $248M to $213M
      Nov 7, 2023 to Mar 29, 2024
    • Non-discretionary RAUM · $5.5M to $5.0M
      Nov 7, 2023 to Mar 29, 2024
    • Pension RAUM · $0 to $432,372
      Nov 7, 2023 to Mar 29, 2024
    • RAUM · $511M to $545M
      Nov 7, 2023 to Mar 29, 2024
    • Advisory employees · 7 to 9
      Sep 8, 2023 to Oct 31, 2023
    • Employees · 26 to 25
      Sep 8, 2023 to Oct 31, 2023
    • State-registered IARs · 10 to 12
      Sep 8, 2023 to Oct 31, 2023
    • Accounts · 2,354 to 2,466
      Sep 15, 2022 to Mar 24, 2023
    • BD registered reps · 23 to 25
      Sep 15, 2022 to Mar 24, 2023
    • Corporate clients · 0 to 2
      Sep 15, 2022 to Mar 24, 2023
    • HNW clients · 78 to 545
      Sep 15, 2022 to Mar 24, 2023
    • Individual clients · 1,407 to 1,919
      Sep 15, 2022 to Mar 24, 2023
    Signals
    19 dated events
    • Horan Wealth Management no longer on the SEC adviser roster (last listed 2025-12-20, RAUM $698.2M)
      Jan 2, 2026 · Left the SEC roster · derived
    • Terence Lee Horan left Horan Wealth Management for Horan Capital Advisors, Llc (registered 2010-04-06)
      Jul 7, 2025 · Advisor changed firm · fact
    • Horan Wealth Management's advisors moved to Horan Wealth, LLC (Cincinnati, OH): 9 of 11 registered, on the same day
      Jul 7, 2025 · Firm absorbed (people side) · derived
    • Horan Wealth Management reported RAUM $698.2M, up 28% from $545.2M (2025-02-10 to 2025-03-29)
      Mar 29, 2025 · RAUM change · derived
    • James Robert Hendricks (Cfo) no longer on Schedule A of Horan Wealth Management (listed 2023-11-07, absent 2024-03-29)
      Mar 29, 2024 · Control person left · inference
    • Lindsey Renee Keith left Horan Wealth Management for Foster & Motley Inc (registered 2024-10-23)
      Jan 3, 2024 · Advisor changed firm · fact
    • Timothy Glenn Powell (Vice President/ Reg Rep) no longer on Schedule A of Horan Wealth Management (listed 2023-04-28, absent 2023-09-08)
      Sep 8, 2023 · Control person left · inference
    • John Ryan Horan (Dept Director, Retirement Plan Consulting) no longer on Schedule A of Horan Wealth Management (listed 2023-04-28, absent 2023-09-08)
      Sep 8, 2023 · Control person left · inference
    • Nicolas Eric Lance (Chief Operating Officer) no longer on Schedule A of Horan Wealth Management (listed 2023-04-28, absent 2023-09-08)
      Sep 8, 2023 · Control person left · inference
    • Rex Noble Points left Horan Wealth Management for Morgan Stanley (registered 2023-09-01)
      Aug 25, 2023 · Advisor changed firm · fact
    • Timothy Glenn Powell left Horan Wealth Management for Avantax Advisory Services (registered 2023-08-23)
      Aug 21, 2023 · Advisor changed firm · fact
    • Matthew Walter Tarka left Horan Wealth Management for Avantax Advisory Services (registered 2023-08-03)
      Aug 2, 2023 · Advisor changed firm · fact
    • Nicholas Groman left Horan Wealth Management for Avantax Advisory Services (registered 2023-07-24)
      Jul 19, 2023 · Advisor changed firm · fact
    • 2 advisors left Horan Wealth Management (Cincinnati, OH) for Avantax Advisory Services within 14 days
      Jul 19, 2023 · Team lift-out · derived
    • Nicolas Eric Lance (Chief Operating Officer) appeared on Schedule A of Horan Wealth Management
      Mar 24, 2023 · Control person joined · fact
    • Horan Wealth Management reported RAUM $513.1M, up 47% from $349.7M (2022-01-05 to 2022-03-24)
      Mar 24, 2022 · RAUM change · derived
    • John Ryan Horan (Dept Director, Retirement Plan Consulting) appeared on Schedule A of Horan Wealth Management
      Mar 30, 2021 · Control person joined · fact
    • Amanda Elizabeth Ferrell (Cco) no longer on Schedule A of Horan Wealth Management (listed 2019-03-29, absent 2019-11-25)
      Nov 25, 2019 · Control person left · inference
    • Horan Wealth Management filed its initial SEC registration (Form ADV)
      Jan 14, 2016 · 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