DFX Intelligence

Data Factory

The intelligence graph connecting private capital, companies and real assets. Public records ingested on their own cadence, resolved to one identity by shared identifier, connected by typed relationships with a date and a source on every edge, and read by detectors that say what changed and what it means. Facts, derived metrics, signals, anomalies and inferences are labelled as such.

319 registered advisers are owned by private equity sponsors on the PE graph, 103 of them wealth managers with $4.78T of RAUM; Clayton, Dubilier & Rice, LLC owns 35 | DFX Data Factory

FactRIA / Wealth Private equityconfidence high

319 registered advisers are owned by private equity sponsors on the PE graph, 103 of them wealth managers with $4.78T of RAUM; Clayton, Dubilier & Rice, LLC owns 35

observed in a filing or announcement; the statement is the source's

What happened

Form ADV Schedule A and B name the owners of each adviser. 550 owner rows on 319 advisers resolve by identifier to a sponsor on the private equity graph (precision 1.00 on track Z's labels); 103 of those advisers are wealth managers with 37,613 registered advisors and $4.78T of RAUM as filed. Largest sponsors by wealth platforms: Clayton, Dubilier & Rice, LLC 35 (Ancora Private Wealth Advisors, Llc, Ars Wealth Advisors, Asset Advisors, Badgley Phelps Wealth Managers, ...); Reverence Capital Partners 5 (Osaic Advisory Services, Llc, Osaic Institutions, Inc., Osaic Wealth, Inc., Seia, ...); OAK Hill Capital Management, LLC 5 (Goldstein Advisors, Llc, Hughes Financial Services, Llc, Kestra Advisory Services, Llc, Kestra Private Wealth Services, Llc, ...); Bain Capital Private Equity, LP 4 (Ac Wealth Partners, Envestnet Pmc, Envestnet Portfolio Solutions, Inc., Qrg Capital Management, Inc.); Leonard Green & Partners, L.P. 3 (Mariner, Mariner Advisor Network, Mariner Independent); The Vistria Group, LP 3 (Ingham Retirement Group, Pasi Investments, Llc, The Mather Group, Llc).

Why it is notable

A PE-backed wealth platform is a buyer: it acquires RIAs, recruits teams and refinances. Reading the sponsor off Schedule A through an identifier bridge, not a press release, lists the platforms and the sponsor behind each one from the filings themselves, with the ownership code and control flag as filed.

When

Occurred: Sep 18, 2026
Window: n/a
First detected: Sep 15, 2026, 8:45 AM UTC
Last confirmed: Sep 18, 2026, 2:42 PM UTC

Entities involved

private equity owner
Clayton, Dubilier & Rice, LLC
private equity owner
Reverence Capital Partners
private equity owner
OAK Hill Capital Management, LLC
private equity owner
Bain Capital Private Equity, LP
private equity owner
Leonard Green & Partners, L.P.
private equity owner
The Vistria Group, LP

What supports it

25 evidence rows

filing
ENVESTNET PMC: Schedule A/B owner BAIN CAPITAL FUND XIII, L.P. (code C) resolves to Bain Capital Private Equity, LP through its fund Bain Capital Fund Xiii, L.P.; basis schedule_ab_owner_name_is_filed_fund
Form ADVDec 20, 2024df_identity_bridge.bridge_id=d52c541e-011d-5eb4-9637-1f5973efae00
filing
OSAIC WEALTH, INC.: Schedule A/B owner RCP ARTEMIS CO-INVEST, L.P. (code D, control person) resolves to Reverence Capital Partners through its fund RCP Artemis Co-Invest, L.P.; basis schedule_ab_owner_name_is_filed_fund
Form ADVNov 4, 2024df_identity_bridge.bridge_id=b0af7f7f-a948-5b95-8d56-234846bc0c22
filing
HIGHTOWER ADVISORS, LLC: Schedule A/B owner THL HT SPV, L.P. (code D, control person) resolves to THL Managers VII, LLC through its fund THL Ht Spv, L.P.; basis schedule_ab_owner_name_is_filed_fund
Form ADVOct 8, 2024df_identity_bridge.bridge_id=cc467cd0-3c19-5662-99d4-f877649eb101
filing
HIGHTOWER ADVISORS, LLC: Schedule A/B owner VINTAGE VIII AB LLC (code C, control person) resolves to Goldman Sachs Asset Management, L.P. through its fund Vintage Viii Ab LLC; basis schedule_ab_owner_name_is_filed_fund

Metrics

bridges: 550
sponsors: 153
platforms: 319
wealth advisors: 37,613
wealth raum usd: $4781B
bridge precision: 1
wealth platforms: 103
bridge validated at: Sep 18, 2026

sponsors top

graph	sponsor	platforms	sponsor id	wealth advisors	wealth raum usd	wealth platforms
pe	Clayton, Dubilier & Rice, LLC	40	d956ee1b-7779-4408-8ff8-eeb71d6fce65

Method and coverage

Detector: RIA_PE_BACKED_PLATFORMS v1
Kind: FACT: observed in a filing or announcement; the statement is the source's
Query: select * from df_identity_bridge where family = 'ria_pe_owner' and status = 'active' (grouped by the PE sponsor)
Coverage: Schedule A and B owners come from the SEC extract (to 2024-12-31) and, for advisers first filed since 2025, the current ADV PDF; an ownership change filed after the last read is not here. The bridge is track Z's ria_pe_owner family, measured on blind labels, three identifier bases, no names; a sponsor whose fund is not on the PE graph is not found. Wealth manager is the lane's printed class. RAUM is regulatory assets under management as filed on Form ADV; it double counts affiliates and is never a person's book.

platforms top

crd	name	basis	state	sponsor	advisors	raum usd	via fund	firm class
111694	ENVESTNET PMC	schedule_ab_owner_name_is_filed_fund	PA	Bain Capital Private Equity, LP	60	$615B	Bain Capital Fund Xiii, L.P.	INDEPENDENT_WEALTH
23131	OSAIC WEALTH, INC.	schedule_ab_owner_name_is_filed_fund	AZ	Reverence Capital Partners	8,054	$235B	RCP Artemis Co-Invest, L.P.	BD_AFFILIATED_WEALTH
145323	HIGHTOWER ADVISORS, LLC	schedule_ab_owner_name_is_filed_fund	IL	THL Managers VII, LLC	1,043	$199B	THL Ht Spv, L.P.	BD_AFFILIATED_WEALTH
145323	HIGHTOWER ADVISORS, LLC	schedule_ab_owner_name_is_filed_fund	IL	Goldman Sachs Asset Management, L.P.	1,043	$199B	Vintage Viii Ab LLC	BD_AFFILIATED_WEALTH
145323	HIGHTOWER ADVISORS, LLC	schedule_ab_owner_name_is_filed_fund	IL	THL Managers VII, LLC	1,043	$199B	THL Ht Parallel Spv, L.P.	BD_AFFILIATED_WEALTH
159289	FOCUS PARTNERS WEALTH, LLC	schedule_ab_owner_name_is_filed_fund	MO	Clayton, Dubilier & Rice, LLC	1,043	$182B	Cd&r Ferdinand Co-Investor, L.P.	INDEPENDENT_WEALTH
159289	FOCUS PARTNERS WEALTH, LLC	schedule_ab_owner_name_is_filed_fund	MO	Clayton, Dubilier & Rice, LLC	1,043	$182B	Clayton, Dubilier & Rice Fund Xii, L.P.	INDEPENDENT_WEALTH
111616	APERIO GROUP, LLC	schedule_ab_owner_named_in_item_7a_with_crd	CA	Blackrock Investment Management, LLC	0	$152B	n/a	INDEPENDENT_WEALTH
111616	APERIO GROUP, LLC	schedule_ab_owner_crd_is_pe_organization	CA	Blackrock Investment Management, LLC	0	$152B	n/a	INDEPENDENT_WEALTH
140195	MARINER	schedule_ab_owner_name_is_filed_fund	KS	Leonard Green & Partners, L.P.	984	$125B	Green Equity Investors Viii, L.P.	BD_AFFILIATED_WEALTH
140195	MARINER	schedule_ab_owner_name_is_filed_fund	KS	Leonard Green & Partners, L.P.	984	$125B	Green Equity Investors Side Viii, L.P.	BD_AFFILIATED_WEALTH
140195	MARINER	schedule_ab_owner_crd_is_pe_organization	KS	Leonard Green & Partners, L.P.	984	$125B	n/a	BD_AFFILIATED_WEALTH
116407	WEALTH ENHANCEMENT ADVISORY SERVICES, LLC	schedule_ab_owner_name_is_filed_fund	MN	TA Associates	1,013	$122B	TA Xiii-A, L.P.	BD_AFFILIATED_WEALTH
116407	WEALTH ENHANCEMENT ADVISORY SERVICES, LLC	schedule_ab_owner_name_is_filed_fund	MN	Onex Partners Manager LP	1,013	$122B	Onex Partners V GP LP	BD_AFFILIATED_WEALTH
116407	WEALTH ENHANCEMENT ADVISORY SERVICES, LLC	schedule_ab_owner_name_is_filed_fund	MN	Onex Partners Manager LP	1,013	$122B	Onex Partners V LP	BD_AFFILIATED_WEALTH
291361	ROCKEFELLER CAPITAL MANAGEMENT	schedule_ab_owner_crd_is_pe_organization	NY	Viking Global Investors LP	1,033	$100B	n/a	BD_AFFILIATED_WEALTH
291361	ROCKEFELLER CAPITAL MANAGEMENT	schedule_ab_owner_named_in_item_7a_with_crd	NY	Viking Global Investors LP	1,033	$100B	n/a	BD_AFFILIATED_WEALTH
109018	ASSETMARK, INC.	schedule_ab_owner_name_is_filed_fund	CA	Gtcr LLC	218	$92B	Gtcr Fund Xiv/a LP	BD_AFFILIATED_WEALTH
147363	MERCER GLOBAL ADVISORS INC.	schedule_ab_owner_name_is_filed_fund	CO	APH III GP LP	750	$84B	Altas Partners Holdings III LP	INDEPENDENT_WEALTH
147363	MERCER GLOBAL ADVISORS INC.	schedule_ab_owner_name_is_filed_fund	CO	APH III GP LP	750	$84B	APH III Primetime Co-Invest LP	INDEPENDENT_WEALTH

PE-owned wealth platforms added 1,752 advisors and lost 955 in twelve months; 20 platforms net positive, 2 net negative