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.

Former SEC-registered adviser

Bel Air Investment Advisors LLC

Former SEC-registered adviserLos Angeles, CaliforniaCRD 104580SEC 801-55068IAPD
Legal name Bel Air Investment Advisors LLC
Latest filing Mar 31, 2021
First filing on the tape Mar 30, 2012 · 27 filings
RAUM
$8.1B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
90%
$7.2B individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
44
18 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
27 filings and snapshots on the tape
RAUM$8.1B as of Mar 31, 2021
Mar 30, 2012$5.0B then
HNW client RAUM$7.0B as of Mar 31, 2021
Mar 23, 2018$6.8B then
State-registered IARs (5.B.3)14 as of Mar 31, 2021
Mar 27, 201312 then
Employees (5.A)44 as of Mar 31, 2021
Mar 27, 201348 then
Private funds3 as of Mar 31, 2015
Mar 30, 20122 then
RAUM -11% over the last fiscal year+2.3% a year over threeIARs 16 to 14offices 1 to 0
Practice profile
derived from the filing of Mar 31, 2021; every figure names its basis
RAUM per advisor
$575MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
55derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$11.0MderivedHNW RAUM over HNW clients
Average account
$5.9MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
4.9%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
3.1derivedItem 5.A over advisors
Advisors per office
14.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
-11%derivedbetween the last two annual amendments
Advisor growth, one year
-13%derivedItem 5.B.3 between annual amendments
Client growth, one year
+17%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 5.G
Custody
$4.5B, 514 clientsreportedItem 9.A
Ownership
a PE fund or sponsor is a 25 percent or greater owner on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$7.0B87%
  • Corporations and businesses$446M5.5%
  • Charitable organizations$395M4.9%
  • Individuals$187M2.3%
Individual clients
137reported
HNW clients
639reported
Pension plan clients
0reported
Charitable clients
45reported
Accounts
1,360reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
$4.5B for 514 clientsreported
Compensation
% of AUM, fixedreported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    2 reported on Schedule D 7.B.(1)
    FundTypeGross assetsOwnersFirst reported
    Fiera USA US Equities Fund, LPno longer reportedOther Private Fund$676,4581Mar 31, 2014
    Fiera USA Eafe Fund, LPno longer reportedOther Private Fund$580,0001Nov 29, 2013
    Owners and control persons
    Schedule A and B, latest filing
    • Lynn Deborah Dana · Chief Operating Officercontrol
      since 09/2020 · owns less than 5%
    • Elmo Reed Halladay · Managing Director/Chief Compliance Officercontrol
      since 12/1997 · owns less than 5%
    • Michael Todd Morgan · Chairmancontrol
      since 12/1997 · owns less than 5%
    • David Sadkin · Presidentcontrol
      since 08/2017 · owns less than 5%
    Entity owners
    • Hightower Holding, LLC · Holding Company
      direct · owns 75% or more
    • Thl Ht Parallel Spv, LP · Partner
      indirect · owns 25% to 50% of Hightower Holding, LLC
    • Thl Ht Spv, LP · Partner
      indirect · owns 25% to 50% of Hightower Holding, LLC
    Related persons
    Schedule D 7.A
    Advisers that list Bel Air Investment Advisors LLC as a related person
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Accounts · 1,596 to 1,360
      Oct 20, 2020 to Mar 31, 2021
    • Advisory employees · 24 to 18
      Oct 20, 2020 to Mar 31, 2021
    • BD registered reps · 29 to 23
      Oct 20, 2020 to Mar 31, 2021
    • Charity clients · 9 to 45
      Oct 20, 2020 to Mar 31, 2021
    • Corporate clients · 7 to 52
      Oct 20, 2020 to Mar 31, 2021
    • HNW clients · 535 to 639
      Oct 20, 2020 to Mar 31, 2021
    • Individual clients · 129 to 137
      Oct 20, 2020 to Mar 31, 2021
    • Pension plan clients · unset to 0.0
      Oct 20, 2020 to Mar 31, 2021
    • Pooled vehicle clients · unset to 0.0
      Oct 20, 2020 to Mar 31, 2021
    • Assets in custody · $5.2B to $4.5B
      Oct 20, 2020 to Mar 31, 2021
    • Employees · 55 to 44
      Oct 20, 2020 to Mar 31, 2021
    • State-registered IARs · 16 to 14
      Oct 20, 2020 to Mar 31, 2021
    • Other offices · 1 to 0
      Oct 20, 2020 to Mar 31, 2021
    • Discretionary RAUM · $9.1B to $8.0B
      Oct 20, 2020 to Mar 31, 2021
    • HNW RAUM · $8.1B to $7.0B
      Oct 20, 2020 to Mar 31, 2021
    • Individual RAUM · $59.2M to $187M
      Oct 20, 2020 to Mar 31, 2021
    • Non-discretionary RAUM · $16.1M to $10.3M
      Oct 20, 2020 to Mar 31, 2021
    • RAUM · $9.1B to $8.1B
      Oct 20, 2020 to Mar 31, 2021
    • Related bank · true to false
      Oct 20, 2020 to Mar 31, 2021
    • Assets in custody · unset to 5249376582.0
      Mar 20, 2020 to Jun 4, 2020
    • Custody of client assets · false to true
      Mar 20, 2020 to Jun 4, 2020
    • Accounts · 1,530 to 1,596
      Mar 27, 2019 to Mar 20, 2020
    • BD registered reps · 35 to 29
      Mar 27, 2019 to Mar 20, 2020
    • Charity clients · 6 to 9
      Mar 27, 2019 to Mar 20, 2020
    • HNW clients · 528 to 535
      Mar 27, 2019 to Mar 20, 2020
    • Individual clients · 114 to 129
      Mar 27, 2019 to Mar 20, 2020
    • Assets in custody · 4654966.0 to unset
      Mar 27, 2019 to Mar 20, 2020
    • Custody of client assets · true to false
      Mar 27, 2019 to Mar 20, 2020
    • Employees · 53 to 55
      Mar 27, 2019 to Mar 20, 2020
    • State-registered IARs · 18 to 16
      Mar 27, 2019 to Mar 20, 2020
    • Discretionary RAUM · $7.9B to $9.1B
      Mar 27, 2019 to Mar 20, 2020
    • HNW RAUM · $7.1B to $8.1B
      Mar 27, 2019 to Mar 20, 2020
    • Individual RAUM · $113M to $59.2M
      Mar 27, 2019 to Mar 20, 2020
    • Non-discretionary RAUM · $10.7M to $16.1M
      Mar 27, 2019 to Mar 20, 2020
    • RAUM · $7.9B to $9.1B
      Mar 27, 2019 to Mar 20, 2020
    • Accounts · 1,459 to 1,530
      Mar 23, 2018 to Mar 27, 2019
    • Charity clients · 7 to 6
      Mar 23, 2018 to Mar 27, 2019
    • Corporate clients · 8 to 7
      Mar 23, 2018 to Mar 27, 2019
    • HNW clients · 486 to 528
      Mar 23, 2018 to Mar 27, 2019
    • Individual clients · 107 to 114
      Mar 23, 2018 to Mar 27, 2019
    Signals
    7 dated events
    • Dwyer Matthew Anhut (General Counsel) no longer on Schedule A of Bel Air Investment Advisors Llc (listed 2020-10-20, absent 2021-03-31)
      Mar 31, 2021 · Control person left · inference
    • Dwyer Matthew Anhut (General Counsel) appeared on Schedule A of Bel Air Investment Advisors Llc
      Oct 20, 2020 · Control person joined · fact
    • Joseph Andrew Dunbar (General Counsel/Chief Compliance Officer) no longer on Schedule A of Bel Air Investment Advisors Llc (listed 2020-09-15, absent 2020-10-20)
      Oct 20, 2020 · Control person left · inference
    • Lynn Deborah Dana (Chief Operating Officer) appeared on Schedule A of Bel Air Investment Advisors Llc
      Sep 15, 2020 · Control person joined · fact
    • Leonard Darell Krasnoff (Managing Director) no longer on Schedule A of Bel Air Investment Advisors Llc (listed 2020-07-08, absent 2020-09-15)
      Sep 15, 2020 · Control person left · inference
    • Frances Jane Eagle (Chief Financial Officer) no longer on Schedule A of Bel Air Investment Advisors Llc (listed 2020-07-08, absent 2020-09-15)
      Sep 15, 2020 · Control person left · inference
    • Klayton Tyler Kelley (Chief Operating Officer) no longer on Schedule A of Bel Air Investment Advisors Llc (listed 2020-07-08, absent 2020-09-15)
      Sep 15, 2020 · Control person left · inference
    Across DFX
    shared identifiers only, never a name match
    No identifier-backed link to the venture, private equity, family office or sponsor graphs.
    Provenance
    Form ADV
    SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
    Advisors
    IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
    Class
    Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
    RAUM per advisor
    n/aderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026