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.

ADV anomalies

What stands out against comparable advisers

Each row is a reported value or a change between two filings that a person should look at, with the peer group it was compared against (segment by RAUM band, at least thirty advisers), the peer median, the percentile, and the filing it was read from. Static outliers sit at or beyond the 2nd or 98th percentile and three robust deviations from the peer median; changes clear a base-size threshold and sit in the top or bottom decile of changes among peers, so a market year does not flag every adviser. Data quality rows (values that are likely filing errors) are kept apart and hidden unless asked for. None of this is a conclusion about a firm; it is where to look.

  • O'CONNOR ALTERNATIVE INVESTMENTS, LLCasset managerRAUM $16Bvery high RAUM per advisorStatic outlier
    RAUM per registered advisor of $5,456,203,828 against a peer median of $1,157,401,140 (55 comparable advisers, 98.0th percentile, 4.2 robust deviations)
    filing May 19, 2026peers: asset managers, $5B to $20B (55)98% percentile4.2 robust deviationsconfidence 0.7
  • KEY GROUP MANAGEMENT, INC.independent RIARAUM $304Mlow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 100% (5676 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    filing May 18, 2026peers: independent wealth managers, $100M to $500M (5,676)0.0% percentile33.7 robust deviationsconfidence 0.8
  • RETIREMENT MANAGEMENT SYSTEMSindependent RIARAUM $1.9Bunusually high clients per advisorStatic outlier
    private clients per advisor of 758.0 against a peer median of 64.5 (1151 comparable advisers, 99.0th percentile, 16.9 robust deviations)
    filing May 18, 2026peers: independent wealth managers, $1B to $5B (1,151)99% percentile16.9 robust deviationsconfidence 0.8
  • KUDU INVESTMENT HOLDINGS, LLCasset managerRAUM $1.4Blow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 100% (1506 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    filing May 18, 2026peers: asset managers, $1B to $5B (1,506)0.0% percentile33.7 robust deviationsconfidence 0.8
  • SUNSTATE WEALTH MANAGEMENT LLCotherRAUM $210Mlow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 100% (212 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    filing May 15, 2026peers: other advisers, $100M to $500M (212)0.0% percentile33.7 robust deviationsconfidence 0.8
  • BLACKROCK FUND ADVISORSasset managerRAUM $4282Bvery high RAUM per advisorStatic outlier
    RAUM per registered advisor of $535,278,045,870 against a peer median of $3,819,469,289 (75 comparable advisers, 100.0th percentile, 121.8 robust deviations)
    filing May 15, 2026peers: asset managers, $20B and over (75)100% percentile121.8 robust deviationsconfidence 0.7
  • BLACKROCK ADVISORS, LLCasset managerRAUM $1096Bvery high RAUM per advisorStatic outlier
    RAUM per registered advisor of $365,374,201,409 against a peer median of $3,819,469,289 (75 comparable advisers, 99.0th percentile, 82.8 robust deviations)
    filing May 15, 2026peers: asset managers, $20B and over (75)99% percentile82.8 robust deviationsconfidence 0.7
  • BLACKROCK ASSET MANAGEMENT SCHWEIZ AGasset managerRAUM $2.4Blarge related person networkStatic outlier
    related persons on Schedule D 7.A of 256.0 against a peer median of 7.0 (850 comparable advisers, 100.0th percentile, 56.0 robust deviations)
    filing May 15, 2026peers: asset managers, $1B to $5B (850)100% percentile56.0 robust deviationsconfidence 0.8
  • BLACKROCK FUND ADVISORSasset managerRAUM $4282Blarge related person networkStatic outlier
    related persons on Schedule D 7.A of 257.0 against a peer median of 18.0 (428 comparable advisers, 98.0th percentile, 13.4 robust deviations)
    filing May 15, 2026peers: asset managers, $20B and over (428)98% percentile13.4 robust deviationsconfidence 0.8
  • MIDWEST CAPITAL ADVISORS, LLCmixed wealthRAUM $1.4Bhigh institutional concentrationStatic outlier
    institutional share of RAUM of 73% against a peer median of 3% (1362 comparable advisers, 99.0th percentile, 17.6 robust deviations)
    filing May 15, 2026peers: independent wealth managers, $1B to $5B (1,362)99% percentile17.6 robust deviationsconfidence 0.8
  • BLACKROCK FUND ADVISORSasset managerRAUM $4282Bunusually large average accountStatic outlier
    RAUM per account of $7,701,842,387 against a peer median of $426,672,517 (326 comparable advisers, 98.0th percentile, 23.9 robust deviations)
    filing May 15, 2026peers: asset managers, $20B and over (326)98% percentile23.9 robust deviationsconfidence 0.8
  • ADVANTAGE CAPITALasset managerRAUM $1.3Bhigh employee count relative to advisorsStatic outlier
    employees per registered advisor of 38.3 against a peer median of 2.4 (42 comparable advisers, 100.0th percentile, 21.7 robust deviations)
    filing May 14, 2026peers: asset managers, $1B to $5B (42)100% percentile21.7 robust deviationsconfidence 0.6
  • EQUITY RESOURCE INVESTMENTS, LLCasset managerRAUM $1.3Bmany private funds relative to firm sizeStatic outlier
    private funds per $1B of RAUM of 46.2 against a peer median of 4.3 (953 comparable advisers, 99.0th percentile, 13.4 robust deviations)
    filing May 14, 2026peers: asset managers, $1B to $5B (953)99% percentile13.4 robust deviationsconfidence 0.8
  • ELEVATE WEALTH MANAGEMENTindependent RIARAUM $320Mhigh institutional concentrationStatic outlier
    institutional share of RAUM of 48% against a peer median of 0% (5676 comparable advisers, 99.0th percentile, 16.2 robust deviations)
    filing May 14, 2026peers: independent wealth managers, $100M to $500M (5,676)99% percentile16.2 robust deviationsconfidence 0.8
  • FERGHANA INVESTMENT PARTNERS, LPotherRAUM $100Mlow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 100% (212 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    filing May 14, 2026peers: other advisers, $100M to $500M (212)0.0% percentile33.7 robust deviationsconfidence 0.8
  • LEGACY KNIGHT MFO, LLCindependent RIARAUM $2.8Bunusually large average accountStatic outlier
    RAUM per account of $53,704,844 against a peer median of $813,262 (1333 comparable advisers, 100.0th percentile, 35.7 robust deviations)
    filing May 14, 2026peers: independent wealth managers, $1B to $5B (1,333)100% percentile35.7 robust deviationsconfidence 0.8
  • HARBOR ADVISORY CORPORATIONindependent RIARAUM $481Mvery high RAUM per advisorStatic outlier
    RAUM per registered advisor of $160,307,258 against a peer median of $55,731,856 (3254 comparable advisers, 100.0th percentile, 3.6 robust deviations)
    filing May 14, 2026peers: independent wealth managers, $100M to $500M (3,254)100% percentile3.6 robust deviationsconfidence 0.8
  • RAVENSWOOD PARTNERS LPasset managerRAUM $436Mhigh institutional concentrationStatic outlier
    institutional share of RAUM of 22% against a peer median of 0% (1567 comparable advisers, 99.0th percentile, 7.5 robust deviations)
    filing May 14, 2026peers: asset managers, $100M to $500M (1,567)99% percentile7.5 robust deviationsconfidence 0.8
  • CENTRAL PINE CAPITAL, LLCindependent RIARAUM $332Mlow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 100% (5676 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    filing May 13, 2026peers: independent wealth managers, $100M to $500M (5,676)0.0% percentile33.7 robust deviationsconfidence 0.8
  • MORGAN STANLEY INFRASTRUCTURE INC.asset managerRAUM $16Blarge related person networkStatic outlier
    related persons on Schedule D 7.A of 112.0 against a peer median of 11.0 (492 comparable advisers, 99.0th percentile, 11.4 robust deviations)
    filing May 13, 2026peers: asset managers, $5B to $20B (492)99% percentile11.4 robust deviationsconfidence 0.8
  • MORGAN STANLEY PRIVATE EQUITY ASIA, INC.asset managerRAUM $1.9Blarge related person networkStatic outlier
    related persons on Schedule D 7.A of 108.0 against a peer median of 7.0 (850 comparable advisers, 99.0th percentile, 22.7 robust deviations)
    filing May 13, 2026peers: asset managers, $1B to $5B (850)99% percentile22.7 robust deviationsconfidence 0.8
  • BROCKENBROUGHmixed wealthRAUM $5.5Bmany private funds relative to firm sizeStatic outlier
    private funds per $1B of RAUM of 10.6 against a peer median of 0.9 (58 comparable advisers, 98.0th percentile, 11.6 robust deviations)
    filing May 13, 2026peers: independent wealth managers, $5B to $20B (58)98% percentile11.6 robust deviationsconfidence 0.7
  • STONEBROOK PRIVATE LLCindependent RIARAUM $937Mvery high RAUM per advisorStatic outlier
    RAUM per registered advisor of $312,323,178 against a peer median of $106,309,121 (1261 comparable advisers, 100.0th percentile, 3.6 robust deviations)
    filing May 13, 2026peers: independent wealth managers, $500M to $1B (1,261)100% percentile3.6 robust deviationsconfidence 0.8
  • CENTRAL PINE CAPITAL, LLCindependent RIARAUM $332Munusually large average HNW clientStatic outlier
    HNW RAUM per HNW client of $11,079,304 against a peer median of $2,404,040 (4940 comparable advisers, 100.0th percentile, 5.9 robust deviations)
    filing May 13, 2026peers: independent wealth managers, $100M to $500M (4,940)100% percentile5.9 robust deviationsconfidence 0.8
  • MORGAN STANLEY PRIVATE EQUITY ASIA, INC.asset managerRAUM $1.9Bunusual affiliate densityStatic outlier
    distinct affiliate types checked on Item 7.A of 6.0 against a peer median of 2.0 (797 comparable advisers, 99.0th percentile, 5.4 robust deviations)
    filing May 13, 2026peers: asset managers, $1B to $5B (797)99% percentile5.4 robust deviationsconfidence 0.8
  • MARSHALL + STERLING WEALTH ADVISORS, INC.mixed wealthRAUM $1.6Bhigh institutional concentrationStatic outlier
    institutional share of RAUM of 75% against a peer median of 3% (1362 comparable advisers, 99.0th percentile, 18.1 robust deviations)
    filing May 12, 2026peers: independent wealth managers, $1B to $5B (1,362)99% percentile18.1 robust deviationsconfidence 0.8
  • CIVITAS CAPITAL MANAGEMENT, LLCasset managerRAUM $579Mmany private funds relative to firm sizeStatic outlier
    private funds per $1B of RAUM of 105.4 against a peer median of 8.9 (463 comparable advisers, 99.0th percentile, 16.1 robust deviations)
    filing May 12, 2026peers: asset managers, $500M to $1B (463)99% percentile16.1 robust deviationsconfidence 0.8
  • SAROFIM TRUST COindependent RIARAUM $13Bunusually large average accountStatic outlier
    RAUM per account of $134,999,909 against a peer median of $1,534,512 (282 comparable advisers, 100.0th percentile, 83.2 robust deviations)
    filing May 12, 2026peers: independent wealth managers, $5B to $20B (282)100% percentile83.2 robust deviationsconfidence 0.8
  • CIVITAS CAPITAL MANAGEMENT, LLCasset managerRAUM $579Mlarge related person networkStatic outlier
    related persons on Schedule D 7.A of 64.0 against a peer median of 5.0 (338 comparable advisers, 98.0th percentile, 19.9 robust deviations)
    filing May 12, 2026peers: asset managers, $500M to $1B (338)98% percentile19.9 robust deviationsconfidence 0.8
  • M2 CAPITAL ADVISORSasset managerRAUM $158Mhigh institutional concentrationStatic outlier
    institutional share of RAUM of 28% against a peer median of 0% (1567 comparable advisers, 99.0th percentile, 9.3 robust deviations)
    filing May 12, 2026peers: asset managers, $100M to $500M (1,567)99% percentile9.3 robust deviationsconfidence 0.8
  • PETERSON WEALTH MANAGEMENT, LLCindependent RIARAUM $251Munusually high clients per advisorStatic outlier
    private clients per advisor of 381.3 against a peer median of 57.3 (3076 comparable advisers, 100.0th percentile, 9.2 robust deviations)
    filing May 12, 2026peers: independent wealth managers, $100M to $500M (3,076)100% percentile9.2 robust deviationsconfidence 0.8
  • PASKIN & BERLER CAPITAL ADVISORS, LLCindependent RIARAUM $391Munusually large average HNW clientStatic outlier
    HNW RAUM per HNW client of $7,597,569 against a peer median of $2,404,040 (4940 comparable advisers, 98.0th percentile, 3.5 robust deviations)
    filing May 12, 2026peers: independent wealth managers, $100M to $500M (4,940)98% percentile3.5 robust deviationsconfidence 0.8
  • BRIDGER INVESTMENT PARTNERS LLCasset managerRAUM $920Mlow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 100% (784 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    filing May 11, 2026peers: asset managers, $500M to $1B (784)0.0% percentile33.7 robust deviationsconfidence 0.8
  • MGFS PRIVATE WEALTH, LLCindependent RIARAUM $117Mlow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 100% (5676 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    filing May 11, 2026peers: independent wealth managers, $100M to $500M (5,676)0.0% percentile33.7 robust deviationsconfidence 0.8
  • BCG SECURITIES, INC.independent RIARAUM $894Mlow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 99% (1482 comparable advisers, 0.0th percentile, 33.5 robust deviations)
    filing May 11, 2026peers: independent wealth managers, $500M to $1B (1,482)0.0% percentile33.5 robust deviationsconfidence 0.8
  • DECLARATION PARTNERS LPasset managerRAUM $2.0Bmany private funds relative to firm sizeStatic outlier
    private funds per $1B of RAUM of 31.8 against a peer median of 4.3 (953 comparable advisers, 99.0th percentile, 8.8 robust deviations)
    filing May 11, 2026peers: asset managers, $1B to $5B (953)99% percentile8.8 robust deviationsconfidence 0.8
  • THE PALISADES GROUP, LLCasset managerRAUM $28Blow discretionary shareStatic outlier
    discretionary share of RAUM of 4% against a peer median of 100% (512 comparable advisers, 1.0th percentile, 32.3 robust deviations)
    filing May 8, 2026peers: asset managers, $20B and over (512)1.4% percentile32.3 robust deviationsconfidence 0.8
  • DOYENNE WEALTH ADVISORSindependent RIARAUM $2.0Blow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 99% (1362 comparable advisers, 0.0th percentile, 33.2 robust deviations)
    filing May 8, 2026peers: independent wealth managers, $1B to $5B (1,362)0.0% percentile33.2 robust deviationsconfidence 0.8
  • TIGER IRON CAPITAL, LLCasset managerRAUM $4.2Blow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 100% (1506 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    filing May 7, 2026peers: asset managers, $1B to $5B (1,506)0.0% percentile33.7 robust deviationsconfidence 0.8
  • CANDACE SHIRA ASSOCIATES, LLCindependent RIARAUM $443Mvery high RAUM per advisorStatic outlier
    RAUM per registered advisor of $147,832,280 against a peer median of $55,731,856 (3254 comparable advisers, 99.0th percentile, 3.2 robust deviations)
    filing May 7, 2026peers: independent wealth managers, $100M to $500M (3,254)99% percentile3.2 robust deviationsconfidence 0.8
  • CLEARWATER ADVISORS, LLCotherRAUM $4.7Bunusually large average accountStatic outlier
    RAUM per account of $55,363,882 against a peer median of $7,545,100 (108 comparable advisers, 98.0th percentile, 5.8 robust deviations)
    filing May 7, 2026peers: other advisers, $1B to $5B (108)98% percentile5.8 robust deviationsconfidence 0.8
  • GRANT TANI BARASH & ALTMAN, LLCindependent RIARAUM $2.3Bhigh employee count relative to advisorsStatic outlier
    employees per registered advisor of 11.1 against a peer median of 1.5 (1101 comparable advisers, 100.0th percentile, 19.9 robust deviations)
    filing May 6, 2026peers: independent wealth managers, $1B to $5B (1,101)100% percentile19.9 robust deviationsconfidence 0.8
  • FIRST FINANCIAL COACHING, INC.independent RIARAUM $671Mlow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 99% (1482 comparable advisers, 0.0th percentile, 33.5 robust deviations)
    filing May 6, 2026peers: independent wealth managers, $500M to $1B (1,482)0.0% percentile33.5 robust deviationsconfidence 0.8
  • WAVVEST WEALTHindependent RIARAUM $268Munusually large average HNW clientStatic outlier
    HNW RAUM per HNW client of $9,745,443 against a peer median of $2,404,040 (4940 comparable advisers, 99.0th percentile, 5.0 robust deviations)
    filing May 6, 2026peers: independent wealth managers, $100M to $500M (4,940)99% percentile5.0 robust deviationsconfidence 0.8
  • CONSERVATION RESOURCE PARTNERS, LLCasset managerRAUM $822Mhigh institutional concentrationStatic outlier
    institutional share of RAUM of 19% against a peer median of 0% (784 comparable advisers, 98.0th percentile, 6.5 robust deviations)
    filing May 6, 2026peers: asset managers, $500M to $1B (784)98% percentile6.5 robust deviationsconfidence 0.8
  • ARBORSTONE FINANCIAL, LLCindependent RIARAUM $476Munusually high clients per advisorStatic outlier
    private clients per advisor of 282.2 against a peer median of 57.3 (3076 comparable advisers, 99.0th percentile, 6.4 robust deviations)
    filing May 6, 2026peers: independent wealth managers, $100M to $500M (3,076)99% percentile6.4 robust deviationsconfidence 0.8
  • TAIKO PRIVATE WEALTHindependent RIARAUM $515Munusually large average accountStatic outlier
    RAUM per account of $8,875,816 against a peer median of $610,947 (1443 comparable advisers, 99.0th percentile, 5.6 robust deviations)
    filing May 6, 2026peers: independent wealth managers, $500M to $1B (1,443)99% percentile5.6 robust deviationsconfidence 0.8
  • SEVEN CANYONS ADVISORS, LLCasset managerRAUM $90.0Mhigh institutional concentrationStatic outlier
    institutional share of RAUM of 19% against a peer median of 0% (140 comparable advisers, 99.0th percentile, 6.4 robust deviations)
    filing May 6, 2026peers: asset managers, under $100M (140)99% percentile6.4 robust deviationsconfidence 0.8
  • BARR FINANCIAL SERVICES, LLCindependent RIARAUM $269Mlow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 100% (5676 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    filing May 5, 2026peers: independent wealth managers, $100M to $500M (5,676)0.0% percentile33.7 robust deviationsconfidence 0.8
  • NEXADVISORS, LLCindependent RIARAUM $26.1Mlarge related person networkStatic outlier
    related persons on Schedule D 7.A of 19.0 against a peer median of 4.0 (46 comparable advisers, 100.0th percentile, 10.1 robust deviations)
    filing May 5, 2026peers: independent wealth managers, under $100M (46)100% percentile10.1 robust deviationsconfidence 0.6
  • KEEL WEALTH MANAGEMENT, LLCmixed wealthRAUM $470Munusually large average accountStatic outlier
    RAUM per account of $5,280,899 against a peer median of $439,994 (5431 comparable advisers, 99.0th percentile, 3.3 robust deviations)
    filing May 5, 2026peers: independent wealth managers, $100M to $500M (5,431)99% percentile3.3 robust deviationsconfidence 0.8
  • POSTROCK PARTNERS LLCmixed wealthRAUM $489Munusually large average accountStatic outlier
    RAUM per account of $6,351,539 against a peer median of $439,994 (5431 comparable advisers, 100.0th percentile, 4.0 robust deviations)
    filing May 5, 2026peers: independent wealth managers, $100M to $500M (5,431)100% percentile4.0 robust deviationsconfidence 0.8
  • SMITH ASSET MANAGEMENT CO., LLCindependent RIARAUM $281Munusually high clients per advisorStatic outlier
    private clients per advisor of 255.0 against a peer median of 57.3 (3076 comparable advisers, 98.0th percentile, 5.6 robust deviations)
    filing May 5, 2026peers: independent wealth managers, $100M to $500M (3,076)98% percentile5.6 robust deviationsconfidence 0.8
  • CANTERBURY CONSULTING INCORPORATEDindependent RIARAUM $46Bunusually large average HNW clientStatic outlier
    HNW RAUM per HNW client of $397,376,440 against a peer median of $5,010,783 (80 comparable advisers, 99.0th percentile, 84.3 robust deviations)
    filing May 4, 2026peers: independent wealth managers, $20B and over (80)99% percentile84.3 robust deviationsconfidence 0.7
  • ARCAPITA INVESTMENT MANAGEMENT US INC.asset managerRAUM $607Mlow discretionary shareStatic outlier
    discretionary share of RAUM of 0% against a peer median of 100% (784 comparable advisers, 0.0th percentile, 33.7 robust deviations)
    filing May 4, 2026peers: asset managers, $500M to $1B (784)0.0% percentile33.7 robust deviationsconfidence 0.8
  • CANTERBURY CONSULTING INCORPORATEDindependent RIARAUM $46Blow discretionary shareStatic outlier
    discretionary share of RAUM of 9% against a peer median of 97% (84 comparable advisers, 0.0th percentile, 20.1 robust deviations)
    filing May 4, 2026peers: independent wealth managers, $20B and over (84)0.0% percentile20.1 robust deviationsconfidence 0.7
  • ATW PARTNERS LLCasset managerRAUM $1.2Bmany private funds relative to firm sizeStatic outlier
    private funds per $1B of RAUM of 29.6 against a peer median of 4.3 (953 comparable advisers, 98.0th percentile, 8.1 robust deviations)
    filing May 4, 2026peers: asset managers, $1B to $5B (953)98% percentile8.1 robust deviationsconfidence 0.8
  • QUINT CAPITAL MANAGEMENTmixed wealthRAUM $162Mhigh institutional concentrationStatic outlier
    institutional share of RAUM of 61% against a peer median of 0% (5676 comparable advisers, 99.0th percentile, 20.3 robust deviations)
    filing May 4, 2026peers: independent wealth managers, $100M to $500M (5,676)99% percentile20.3 robust deviationsconfidence 0.8
  • APS WEALTH MANAGEMENT, LLCmixed wealthRAUM $312Mhigh institutional concentrationStatic outlier
    institutional share of RAUM of 61% against a peer median of 0% (5676 comparable advisers, 99.0th percentile, 20.6 robust deviations)
    filing May 4, 2026peers: independent wealth managers, $100M to $500M (5,676)99% percentile20.6 robust deviationsconfidence 0.8
  • THIRD SIGMA INVESTMENT ADVISORS LLCmixed wealthRAUM $98.8Mhigh institutional concentrationStatic outlier
    institutional share of RAUM of 54% against a peer median of 0% (310 comparable advisers, 99.0th percentile, 18.2 robust deviations)
    filing May 2, 2026peers: independent wealth managers, under $100M (310)99% percentile18.2 robust deviationsconfidence 0.8
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8,370 anomalies match.