DFX Intelligence
Allocator Intelligence
The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.
Institutional manager
Next Financial Group Inc
Advisory clients on the tape
1
Schedule C, ACFR
Public-system clients
0
ACFR and seeds
ADV institutional clients
80
filed Aug 4, 2025
ADV institutional RAUM
$93.5M
pension, government, charity, insurance, sovereign
ADV discretionary RAUM
$3.7B
Item 5.F
Classification basis: Form ADV 5.G(6) pension consulting; institutional RAUM share 0.03; discretionary RAUM $3.7B. An OCIO holds discretion over at least $5B of institutional assets; a consultant advises.
Advisory clients
1 allocators
- Howard Miller - Hekman Defined Benefit Pension Plan Investment adviser (plan)through Dec 31, 2023 Form 5500
Schedule C rows
2 rows
| Plan | Plan year | Codes | Relationship as filed | Direct compensation |
|---|---|---|---|---|
| Howard Miller - Hekman Defined Benefit Pension Plan | 2024 | 27 99 | INVESTMENT ADVISORY | |
| Howard Miller - Hekman Defined Benefit Pension Plan | 2023 | 27 99 | INVESTMENT ADVISORY |
Form ADV readings
- charity clients 43 Aug 4, 2025 reported
- institutional clients 80 Aug 4, 2025 reported
- pension plan clients 37 Aug 4, 2025 reported
- raum discretionary $3.7B Aug 4, 2025 reported
- raum institutional $93.5M Aug 4, 2025 reported
- raum total $3.8B Aug 4, 2025 reported
What changed
- Next Financial Group Inc appears on Howard Miller - Hekman Defined Benefit Pension Plan's Schedule C as investment adviser (plan) (plan year 2023 vs 2022)with Next Financial Group Incaskebsa.dol.gov