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

Piper Sandler & Co.

Institutional managerMinneapolis, MinnesotaCRD 665SEC 801-108049websiteIAPD
Latest filing Mar 23, 2026
First filing on the tape Jun 24, 2016 · 39 filings
SEC status approved since Aug 4, 2016
RAUM
$1.3B
reported, Item 5.F
Discretionary
0.0%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
26
registered through the firm on IAPD
RAUM per advisor
$49.4M
derived; firm RAUM over IAPD count
Employees
1,402
31 advisory (5.B.1)
Offices
9
beyond the principal office
Private funds
0
reported on Schedule D
History
39 filings and snapshots on the tape
RAUM$1.3B as of Mar 23, 2026
Jan 31, 2017$394M then
HNW client RAUM$0 as of Mar 23, 2026
Mar 31, 2021$0 then
State-registered IARs (5.B.3)26 as of Mar 23, 2026
Jan 31, 201733 then
Employees (5.A)1,402 as of Mar 23, 2026
Jan 31, 2017805 then
Private funds: no history
RAUM -35% over the last fiscal year-3.0% a year over threeIARs 25 to 26offices 8 to 9
Practice profile
derived from the filing of Mar 23, 2026; every figure names its basis
Archetypes, each a printed rule
  • Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
  • Institutional asset manager · institutional share (pensions, government, insurance, corporations, charities, banks, other advisers) at least 60 percent and private-client share under 20 percent
RAUM per advisor
$49.4MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$1.3BderivedRAUM over accounts (5.F.2.f)
Discretionary
0.0%derivedof RAUM
Institutional
100%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
53.9derivedItem 5.A over advisors
Advisors per office
2.6derived10 offices incl. principal (1.F.5)
RAUM growth, one year
-35%derivedbetween the last two annual amendments
Advisor growth, one year
+4.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, fixed fees, commissionsreportedItem 5.E
Advisory activities
portfolio management for businesses and institutions, portfolio management for investment companies, 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
  • 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)
  • 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
  • State and municipal entities$1.3B100%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
1reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, commissionsreported
Class basis
private_client_share=0.0 fund_share=0.0 institutional_share=1.0 related_bd=true related_bank=false bd_reps=1402.0derived
Advisors registered through the firm
26 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Gregory Eugene HagenPortland, Or Aug 5, 201629 y2
Matthew James ThompsonLeawood, Ks Aug 5, 201622 y2
Paul Mcmahon KelleyAustin, Tx Aug 5, 201622 y3
Paul A. AshenfelterMinneapolis, MnAug 5, 201614 y1
Mark Evans CieciuraChicago, IlAug 5, 201643 y2
David Michael JensenMinneapolis, MnAug 5, 201631 y2
Jay Allen HersheyMinneapolis, MnAug 5, 201631 y1
Jeffrey Paul MoenMinneapolis, MnJan 16, 201828 y0
Jason Ronald MorkMilwaukee, Wi Feb 6, 201818 y1
Kyle Francis JavesAustin, Tx May 9, 201919 y4
Richard Doyle HattonChartered Financial AnalystMemphis, Tn Sep 4, 201925 y2
William Morrow ArthChicago, Il Sep 9, 201917 y2
Ellen Nelson FrysWayzata, Mn Nov 13, 201912 y1
Stephen Hunter FineganNew York, NyMar 11, 202010 y1
Jonathan Richard SearlesMelville, Ny Oct 4, 202117 y2
Jason M BednarBrookfield, Wi May 13, 202218 y1
Dylana Lee GrossDenver, CoSep 11, 202410 y1
Evans CopelandAtlanta, Ga Sep 27, 202414 y1
Cole Keegan RuohomakiSaint Paul, Mn Mar 17, 202513 y0
Thomas TaytonGreenwich, Ct Aug 11, 202511 y2
Mitchell Lance WolkowMinneapolis, MnOct 15, 202511 y0
Stefanie M RobertsPortland, Or Dec 1, 202510 y0
Karan PatelMinneapolis, Mn Mar 30, 202610 y2
Nina ChhorGreenwich, Ct Jun 24, 202612 y0
Sahil VeeramoneyChicago, Il Aug 4, 202613 y1
Matthew William BirchenoughWest Palm Beach, Fl Aug 19, 202610 y1
Advisor movement
0 left, 3 joined in 12 months
net +3 in 12 months0 left in 90 days2 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
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
    • Chad Richard Abraham · Chairman, Ceo; Board Membercontrol
      since 01/2018 · owns less than 5%
    • Katherine Patricia Clune · Cfo; Board Membercontrol
      since 01/2024 · owns less than 5%
    • Michael Edward Cox · Co-Head Of Equities; Board Membercontrol
      since 02/2018 · owns less than 5%
    • Michael Ray Dillahunt · Co-Head Inv Bkg & Cap Mkts; Board Membercontrol
      since 03/2021 · owns less than 5%
    • Jonathan Jay Doyle · Head Of Financial Services Groupcontrol
      since 01/2020 · owns less than 5%
    • John William Jr. Geelan · Chief Legal Officercontrol
      since 01/2013 · owns less than 5%
    • Jeremy Joseph Gerber · Co Head Of Public Finance; Board Membercontrol
      since 12/2023 · owns less than 5%
    • Bridget Tere Larsen · Chief Compliance Officercontrol
      since 04/2021 · owns less than 5%
    • Debbra Lynn Schoneman · President; Board Membercontrol
      since 01/2018 · owns less than 5%
    Entity owners
    • Piper Sandler Companies · Parent
      direct · owns 75% or more · public reporting company
    Related persons
    Schedule D 7.A
    Advisers that list Piper Sandler & Co. as a related person
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Minneapolis, Mn · principal1430
    New York, Ny520
    Chicago, Il410
    Austin, Tx200
    Greenwich, Ct210
    Portland, Or210
    Offices
    Schedule D 1.F, the 25 largest
    • New York, NY10 employees
    • Chicago, IL5 employees
    • Memphis, TN2 employees
    • West Palm Beach, FL1 employees
    • Milwaukee, WI1 employees
    • Leawood, KS1 employees
    • Greenwich, CT1 employees
    ADV anomalies
    3 against comparable advisers; where to look, not conclusions
    • RAUM down advisors stableCombination · filing Mar 23, 2026
      RAUM fell 25 percent or more while the advisor count stayed within 5 percent: assets left without people leaving (a large client or institutional mandate, a fee change, or a reporting change). RAUM $1,985,004,532 to $1,284,404,458, advisors 25 to 26, private clients 0 to 0, offices 8 to 9 (2025-04-29 to 2026-03-23)
      peers: institutional managers, $1B to $5B (121)
    • low discretionary shareStatic outlier · filing Mar 23, 2026
      discretionary share of RAUM of 0% against a peer median of 99% (121 comparable advisers, 0.0th percentile, 33.5 robust deviations)
      peers: institutional managers, $1B to $5B (121) · 0.0% percentile
    • RAUM down 25 %Change between filings · filing Mar 23, 2026
      RAUM (Item 5.F) moved from $1,985,004,532 to $1,284,404,458 (-35.0%) between the annual amendments of 2025-04-29 and 2026-03-23; the peer median change was +15.0% (105 comparable advisers, 5.0th percentile of changes)
      peers: institutional managers, $1B to $5B (105) · 4.8% percentile
    How anomalies are measured
    What changed
    consecutive filings, newest first
    • Advisory employees · 21 to 31
      Jul 14, 2025 to Mar 23, 2026
    • BD registered reps · 1,370 to 1,402
      Jul 14, 2025 to Mar 23, 2026
    • Corporate clients · 0 to 1
      Jul 14, 2025 to Mar 23, 2026
    • Employees · 1,370 to 1,402
      Jul 14, 2025 to Mar 23, 2026
    • State-registered IARs · 25 to 26
      Jul 14, 2025 to Mar 23, 2026
    • Other offices · 8 to 9
      Jul 14, 2025 to Mar 23, 2026
    • Non-discretionary RAUM · $2.0B to $1.3B
      Jul 14, 2025 to Mar 23, 2026
    • RAUM · $2.0B to $1.3B
      Jul 14, 2025 to Mar 23, 2026
    • Financial planning clients · unset to
      Apr 29, 2025 to Jul 14, 2025
    • Advisory employees · 24 to 21
      Oct 9, 2024 to Apr 29, 2025
    • Advisory activities · 2 to 3
      Oct 9, 2024 to Apr 29, 2025
    • BD registered reps · 1,335 to 1,370
      Oct 9, 2024 to Apr 29, 2025
    • Employees · 1,335 to 1,370
      Oct 9, 2024 to Apr 29, 2025
    • State-registered IARs · 24 to 25
      Oct 9, 2024 to Apr 29, 2025
    • Other offices · 7 to 8
      Oct 9, 2024 to Apr 29, 2025
    • Non-discretionary RAUM · $1.6B to $2.0B
      Oct 9, 2024 to Apr 29, 2025
    • RAUM · $1.6B to $2.0B
      Oct 9, 2024 to Apr 29, 2025
    • Other offices · 6 to 7
      Mar 18, 2024 to Apr 22, 2024
    • Advisory employees · 30 to 24
      Mar 28, 2023 to Mar 18, 2024
    • BD registered reps · 1,330 to 1,335
      Mar 28, 2023 to Mar 18, 2024
    • Employees · 1,330 to 1,335
      Mar 28, 2023 to Mar 18, 2024
    • State-registered IARs · 26 to 24
      Mar 28, 2023 to Mar 18, 2024
    • Other offices · 7 to 6
      Mar 28, 2023 to Mar 18, 2024
    • Non-discretionary RAUM · $1.4B to $1.6B
      Mar 28, 2023 to Mar 18, 2024
    • RAUM · $1.4B to $1.6B
      Mar 28, 2023 to Mar 18, 2024
    • Advisory employees · 26 to 30
      Dec 19, 2022 to Mar 27, 2023
    • BD registered reps · 1,253 to 1,330
      Dec 19, 2022 to Mar 27, 2023
    • Commission compensation · false to true
      Dec 19, 2022 to Mar 27, 2023
    • Employees · 1,253 to 1,330
      Dec 19, 2022 to Mar 27, 2023
    • State-registered IARs · 25 to 26
      Dec 19, 2022 to Mar 27, 2023
    • Non-discretionary RAUM · $1.3B to $1.4B
      Dec 19, 2022 to Mar 27, 2023
    • RAUM · $1.3B to $1.4B
      Dec 19, 2022 to Mar 27, 2023
    • Accounts · 20 to 1
      Oct 5, 2022 to Dec 19, 2022
    • Non-discretionary RAUM · $3.3B to $1.3B
      Oct 5, 2022 to Dec 19, 2022
    • RAUM · $3.3B to $1.3B
      Oct 5, 2022 to Dec 19, 2022
    • Other offices · 5 to 7
      Mar 30, 2022 to Oct 5, 2022
    • Accounts · 18 to 20
      Jul 6, 2021 to Mar 30, 2022
    • Advisory employees · 24 to 26
      Jul 6, 2021 to Mar 30, 2022
    • Advisory activities · 3 to 2
      Jul 6, 2021 to Mar 30, 2022
    • BD registered reps · 1,128 to 1,253
      Jul 6, 2021 to Mar 30, 2022
    Signals
    23 dated events
    • Piper Sandler & Co. reported RAUM $1.3B, down 35% from $2.0B (2025-07-14 to 2026-03-23)
      Mar 23, 2026 · RAUM change · derived
    • Piper Sandler & Co. reported RAUM $2.0B, up 26% from $1.6B (2024-10-09 to 2025-04-29)
      Apr 29, 2025 · RAUM change · derived
    • Francis Evarts Iv Fairman (Head Of Public Finance Services; Board Member) no longer on Schedule A of Piper Sandler & Co. (listed 2024-03-18, absent 2024-03-18)
      Mar 18, 2024 · Control person left · inference
    • Timothy Lee Carter (Cfo; Board Member) no longer on Schedule A of Piper Sandler & Co. (listed 2024-03-18, absent 2024-03-18)
      Mar 18, 2024 · Control person left · inference
    • Jeremy Joseph Gerber (Co Head Of Public Finance; Board Member) appeared on Schedule A of Piper Sandler & Co.
      Mar 18, 2024 · Control person joined · fact
    • Katherine Patricia Clune (Cfo; Board Member) appeared on Schedule A of Piper Sandler & Co.
      Mar 18, 2024 · Control person joined · fact
    • Bradley Slaughter left Piper Sandler & Co. for Northland Asset Management (registered 2024-01-08)
      Jul 20, 2023 · Advisor changed firm · fact
    • Piper Sandler & Co. reported RAUM $1.3B, down 61% from $3.3B (2022-10-05 to 2022-12-19)
      Dec 19, 2022 · RAUM change · derived
    • Anton Gabriel Deden left Piper Sandler & Co. for D.A. Davidson & Co. (registered 2022-11-30)
      Nov 15, 2022 · Advisor changed firm · fact
    • Piper Sandler & Co. reported RAUM $3.3B, up 58% from $2.1B (2021-07-06 to 2022-03-30)
      Mar 30, 2022 · RAUM change · derived
    • Anncharlotte Mccague (Co-Chief Compliance Officer) no longer on Schedule A of Piper Sandler & Co. (listed 2021-03-31, absent 2021-04-12)
      Apr 12, 2021 · Control person left · inference
    • Robert Scott Larue (Head Of Investment Banking; Board Member) no longer on Schedule A of Piper Sandler & Co. (listed 2021-03-31, absent 2021-04-12)
      Apr 12, 2021 · Control person left · inference
    • Christopher Stephen Hooper (Co-Chief Compliance Officer) no longer on Schedule A of Piper Sandler & Co. (listed 2021-03-31, absent 2021-04-12)
      Apr 12, 2021 · Control person left · inference
    • Michael Ray Dillahunt (Co-Head Inv Bkg & Cap Mkts; Board Member) appeared on Schedule A of Piper Sandler & Co.
      Apr 12, 2021 · Control person joined · fact
    • Bridget Tere Wherley (Chief Compliance Officer) appeared on Schedule A of Piper Sandler & Co.
      Apr 12, 2021 · Control person joined · fact
    • Piper Sandler & Co. reported RAUM $2.1B, up 1276% from $151.4M (2020-08-27 to 2021-03-31)
      Mar 31, 2021 · RAUM change · derived
    • Jonathan Jay Doyle (Head Of Financial Services Group) appeared on Schedule A of Piper Sandler & Co.
      Jan 13, 2020 · Control person joined · fact
    • Christopher Stephen Hooper (Co-Chief Compliance Officer) appeared on Schedule A of Piper Sandler & Co.
      Jan 13, 2020 · Control person joined · fact
    • Andrew Scott Duff (Chairman; Board Member) no longer on Schedule A of Piper Sandler & Co. (listed 2019-03-29, absent 2019-10-30)
      Oct 30, 2019 · Control person left · inference
    • Michael Edward Cox (Director Of Research/Board Member) appeared on Schedule A of Piper Sandler & Co.
      Mar 29, 2019 · Control person joined · fact
    • Martin Bradley Winges (Head Of Fixed Income Services; Board Member) no longer on Schedule A of Piper Sandler & Co. (listed 2018-03-20, absent 2019-02-05)
      Feb 5, 2019 · Control person left · inference
    • Piper Sandler & Co. reported RAUM $228.3M, down 42% from $393.8M (2017-07-31 to 2018-03-20)
      Mar 20, 2018 · RAUM change · derived
    • Piper Jaffray & Co. filed its initial SEC registration (Form ADV)
      Jun 24, 2016 · First SEC registration · fact
    Across DFX
    shared identifiers only, never a name match
    How to reach
    public business contact points only, each with its source
    Website
    PIPERSANDLER.COMreportedpublic record, Form ADV, Sep 17, 2026
    Principal office phone
    612-303-6000reportedpublic record, Form ADV, Mar 23, 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
    Institutional managerderiveda rule over Items 5.D and 7.A
    RAUM per advisor
    $49.4Mderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026