••• Locked

a 25% RAUM move on a large firm is a dated business event; declines name acquisition and recruiting targets, rises name winners. Amount $2.8B. Evidence class: derived; source SEC Form ADV filing data 2011-2024 (FOIA extract).

A•••• I••••••••• M••••••••• · firm

computed from facts with a stated formula and window

Happened 2026-09-23First seen 2026-09-24

RAUM change (absolute, from the filing): $2.8B
Confidence: 100%
Parties affected: 1

Open the record

DFX product: Advisor Recruiting Intelligence

What changed

A•••• I••••••••• M••••••••• reported RAUM $3.5B, down 45% from $6.3B (2025-09-26 to 2026-09-23)

Why now: Dated 2026-09-23 (filing); first seen by DFX 2026-09-24.

Who this matters to

only relationships the graph supports

Primary

A•••• I••••••••• M•••••••••$2.8Bmixed
the firm whose RAUM moved. the filing's own number · DFX signal history · Sep 23, 2026

Buyer classes for this family: RIA aggregators, Advisor recruiters, Custodians, PE sponsors.

What would make this wrong

the move is a reporting-basis change on the ADV

Who would own this decision

public roster names; business contact details are an account feature

B••••••• J••• A•••••••• · Co-Cio · A•••• I••••••••• M•••••••••

Evidence

Evidence, method and the rank's parts

Sources

SEC Form ADV filing data 2011-2024 (FOIA extract) · Sep 23, 2026adviserinfo.sec.gov

What would make this less concerning

the move is a reporting-basis change on the ADV

Actionability, eleven dimensions (0 to 5)

novelty5
confidence5
timeliness5
actionability2
affected entities1
economic magnitude4
financing consequence1
portfolio consequence1
commercial consequence4
investment consequence2
fundraising consequence1

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Not yet on record: historical lift, median warning.