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NEPSIS, INC.

MINNEAPOLIS, MN · CRD 141203 · IAPD ↗ · 952-746-2003

$344.5MRegulatory AUM
18Advisory reps
37Employees
1Clients
1-10Planning clients
0Private funds
18States
0Disclosures
wealthSegment
ApprovedSEC status

Filing changes

48
February 2026 — NEPSIS, INC. reported RAUM down 31% ($497.8M -> $344.5M).
Regulatory AUM down >=25% since last filing.
M&A & valuationRecruiting & transitions
53
February 2026 — NEPSIS, INC. shrank from 25 to 18 advisory reps.
Advisory representative count fell materially — advisors are moving, or the firm is shrinking.
Recruiting & transitionsM&A & valuation
47
December 2025 — NEPSIS, INC. notice-filed in IA, TN.
Notice-filed in new state(s): the firm is taking clients somewhere new.
ComplianceMarketing & brand
66
April 2025 — NEPSIS, INC. reported RAUM up 42% ($350.8M -> $497.8M).
Regulatory AUM up >=25% since last filing.
Portfolio / reporting / TAMPCRMFinancial planning software
78
April 2025 — NEPSIS, INC. grew from 15 to 25 advisory reps.
Advisory representative count grew materially (>=20% or >=5 reps).
CRMRecruiting & transitionsComplianceFinancial planning software
53
August 2024 — NEPSIS, INC. added office(s): 3 -> 4 additional locations.
Count of additional offices increased.
Office IT & facilitiesCRMRecruiting & transitions
53
May 2024 — NEPSIS, INC. added office(s): 2 -> 3 additional locations.
Count of additional offices increased.
Office IT & facilitiesCRMRecruiting & transitions
49
April 2024 — NEPSIS, INC. notice-filed in ID, IN, NY.
Notice-filed in new state(s): the firm is taking clients somewhere new.
ComplianceMarketing & brand
45
February 2024 — NEPSIS, INC. notice-filed in LA.
Notice-filed in new state(s): the firm is taking clients somewhere new.
ComplianceMarketing & brand

Data: SEC Form ADV monthly roster (public). Confirm on IAPD before acting.