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.
SEC-registered adviser
Herold Advisors, Inc.
Latest filing Sep 10, 2026
First filing on the tape Feb 15, 2012 · 34 filings
SEC status approved since Jan 2, 1976
RAUM
$540M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
95%
$512M individuals and HNW
Advisors
13
registered through the firm on IAPD
RAUM per advisor
$41.6M
derived; firm RAUM over IAPD count
Employees
9
8 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
34 filings and snapshots on the tape
RAUM$540M as of Jul 2, 2026
Feb 15, 2012$51.3M then
HNW client RAUM$374M as of Jul 2, 2026
Mar 12, 2018$80.6M then
State-registered IARs (5.B.3)9 as of Jul 2, 2026
Jan 10, 20137 then
Employees (5.A)9 as of Jul 2, 2026
Jan 10, 20137 then
Private funds: no history
RAUM +10% over the last fiscal year+17% a year over threeIARs 9 to 9offices 1 to 2
Practice profile
derived from the filing of Sep 10, 2026; every figure names its basis
Archetypes, each a printed rule
- Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
- RAUM per advisor
- $41.6MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 43derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.2MderivedHNW RAUM over HNW clients
- Average account
- $959,438derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 3.6%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 0.7derivedItem 5.A over advisors
- Advisors per office
- 4.3derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +10%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +7.5%derived
- Compensation
- percentage of assets, otherreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, publicationsreportedItem 5.G
- Wrap fee program
- $1000MreportedItem 5.I
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- is a broker-dealer (6.A.1)
- is an insurance broker or agent (6.A.6)
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$374M69%
- Individuals$138M26%
- Pension and profit-sharing plans$19.3M3.6%
- Corporations and businesses$8.8M1.6%
- Individual clients
- 439reported
- HNW clients
- 118reported
- Pension plan clients
- 4reported
- Charitable clients
- n/areported
- Accounts
- 563reported
- Financial planning clients
- 0reported
- Wrap fee programs
- $500M sponsored, $500M managedreported
- Custody of client assets
- noreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.95 fund_share=0.0 institutional_share=0.04 related_bd=true related_bank=false bd_reps=9.0derived
Advisors registered through the firm
13 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Vidur Raj BhallaChartered Financial Analyst | New York, Ny | Oct 6, 2021 | 39 y | 0 |
| Lawrence Stephen HeroldChartered Financial Analyst | New York, Ny | Oct 6, 2021 | 47 y | 0 |
| Kevin John Leahy | New York, Ny | Oct 11, 2021 | 37 y | 0 |
| Mario John Giammarco | Staten Island, Ny | Jan 3, 2022 | 41 y | 0 |
| Sean Yang | New York, Ny | Feb 15, 2022 | 13 y | 0 |
| Henry Steven Pacht | New York, Ny | Jun 2, 2022 | 49 y | 0 |
| Mario John Giammarco Jr | New York, Ny | Jun 30, 2022 | 21 y | 0 |
| Francis George Horneff | New York, Ny | Jul 15, 2022 | 30 y | 0 |
| Tyler Joseph Turtoro | Staten Island, Ny | Oct 14, 2022 | 12 y | 2 |
| Hunter Wagner Lanton | New York, Ny | Mar 10, 2023 | 14 y | 0 |
| Michael John Bottoni | Melville, Ny | May 22, 2025 | 11 y | 0 |
| Patrick John Gorman | W Islip, Ny | Sep 22, 2025 | 41 y | 0 |
| Liana Barone | Staten Island, Ny | Sep 22, 2025 | 12 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount1 left over 36 months
Left, latest
- Steven Marc Heinowitz to Calton & Associates, Inc.Aug 12, 2025 · RIA to RIA
- Silvestro Rubino to E*Trade Capital Management, LLCDec 23, 2021 · RIA to RIA
Joined, latest
- Steven Marc Heinowitz from Quint Capital ManagementApr 28, 2023 · RIA to RIA
- Tyler Joseph Turtoro from MML Investors Services, LLCOct 14, 2022 · Affiliated broker-dealer or bank to independent RIA
- Silvestro Rubino from Merrill Lynch, Pierce, Fenner & Smith IncorporatedNov 18, 2020 · Wirehouse to independent RIA
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Stephen Lawrence Herold · Herold Advisors - President, Director, Ceo, Coo, Chief Legal Officer, Ccocontrolsince 12/1980 · owns 25% to 50%
- Margaret Paula Herold · Percheron Shareholdercontrolsince 11/2020 · owns 25% to 50%
- Michael Keith Lanton · Percheron President And Treasurercontrolsince 11/2020 · owns 5% to 10%
- Diane Wendy Sheftel · Percheron - Shareholdercontrolsince 11/2020 · owns less than 5%
- Stephen Lawrence Herold · Shareholdercontrolsince 11/2020 · owns 25% to 50% of Percheron Asset Management Group, Inc.
- Margaret Paula Herold · Shareholdersince 11/2020 · owns 25% to 50% of Percheron Asset Management Group, Inc.
Entity owners
- Percheron Asset Management Group, Inc. · Holding Companydirect · owns 75% or more
Related persons
Schedule D 7.A
- Herold & Lantern Investments, Inc.broker-dealern
- Herold Insurance Agency,Inc.real estaten
- Lantern Insurance Brokeragereal estaten
- Lantern Wealth Advisors, LLCinvestment advisernRAUM $320M
Advisers that list Herold Advisors, Inc. as a related person
- 147420 n
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| New York, Ny · principal | 12 | 2 | 0 | ||
| Melville, Ny | 2 | 0 | 0 | ||
| Staten Island, Ny | 2 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Staten Island, NY3 employees
What changed
consecutive filings, newest first
- Financial planning clients · 0 to 0Jul 2, 2026 to Sep 10, 2026
- Succession · false to unsetJul 2, 2026 to Sep 10, 2026
- Accounts · 523 to 563Dec 18, 2025 to Mar 30, 2026
- HNW clients · 102 to 118Dec 18, 2025 to Mar 30, 2026
- Individual clients · 416 to 439Dec 18, 2025 to Mar 30, 2026
- Pension plan clients · 3 to 4Dec 18, 2025 to Mar 30, 2026
- Discretionary RAUM · $490M to $540MDec 18, 2025 to Mar 30, 2026
- HNW RAUM · $328M to $374MDec 18, 2025 to Mar 30, 2026
- Individual RAUM · $131M to $138MDec 18, 2025 to Mar 30, 2026
- Pension RAUM · $16.0M to $19.3MDec 18, 2025 to Mar 30, 2026
- RAUM · $490M to $540MDec 18, 2025 to Mar 30, 2026
- Wrap assets (manager) · $358M to $500MDec 18, 2025 to Mar 30, 2026
- Wrap assets (sponsor) · $358M to $500MDec 18, 2025 to Mar 30, 2026
- Financial planning clients · 0 to 0Mar 31, 2025 to Jun 25, 2025
- Other offices · 1 to 2Mar 31, 2025 to Jun 25, 2025
- Accounts · 452 to 523Mar 29, 2024 to Mar 31, 2025
- Advisory activities · 2 to 3Mar 29, 2024 to Mar 31, 2025
- HNW clients · 85 to 102Mar 29, 2024 to Mar 31, 2025
- Individual clients · 360 to 416Mar 29, 2024 to Mar 31, 2025
- Pension plan clients · 5 to 3Mar 29, 2024 to Mar 31, 2025
- Discretionary RAUM · $413M to $490MMar 29, 2024 to Mar 31, 2025
- HNW RAUM · $266M to $328MMar 29, 2024 to Mar 31, 2025
- Individual RAUM · $116M to $131MMar 29, 2024 to Mar 31, 2025
- Pension RAUM · $13.5M to $16.0MMar 29, 2024 to Mar 31, 2025
- RAUM · $413M to $490MMar 29, 2024 to Mar 31, 2025
- Wrap assets (manager) · $379M to $358MMar 29, 2024 to Mar 31, 2025
- Wrap assets (sponsor) · $379M to $358MMar 29, 2024 to Mar 31, 2025
- Accounts · 367 to 452Mar 31, 2023 to Mar 29, 2024
- Advisory employees · 7 to 8Mar 31, 2023 to Mar 29, 2024
- BD registered reps · 8 to 9Mar 31, 2023 to Mar 29, 2024
- HNW clients · 64 to 85Mar 31, 2023 to Mar 29, 2024
- Individual clients · 296 to 360Mar 31, 2023 to Mar 29, 2024
- Employees · 8 to 9Mar 31, 2023 to Mar 29, 2024
- Insurance-licensed employees · 1 to 2Mar 31, 2023 to Mar 29, 2024
- State-registered IARs · 8 to 9Mar 31, 2023 to Mar 29, 2024
- Discretionary RAUM · $334M to $413MMar 31, 2023 to Mar 29, 2024
- HNW RAUM · $216M to $266MMar 31, 2023 to Mar 29, 2024
- Individual RAUM · $91.2M to $116MMar 31, 2023 to Mar 29, 2024
- Pension RAUM · $11.8M to $13.5MMar 31, 2023 to Mar 29, 2024
- RAUM · $334M to $413MMar 31, 2023 to Mar 29, 2024
Signals
3 dated events
- Steven Marc Heinowitz left Herold Advisors, Inc. for Calton & Associates, Inc. (registered 2025-07-15)Aug 12, 2025 · Advisor changed firm · fact
- Michael Keith Lanton (Percheron President And Treasurer) appeared on Schedule A of Herold Advisors, Inc.Nov 17, 2020 · Control person joined · fact
- Diane Wendy Sheftel (Percheron - Shareholder) appeared on Schedule A of Herold Advisors, Inc.Nov 17, 2020 · Control person joined · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business email
- info@heroldlantern.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- matthewemanuel@heroldlantern.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- franh@heroldlantern.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 212-371-3950reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 201-222-7600reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 201-222-7662reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- HEROLDlantern.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 212-371-3950reportedpublic record, Form ADV, Sep 10, 2026
- Contact form
- heroldlantern.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- heroldlantern.com/team-memberreportedpublished by the firm, firm site, Sep 15, 2026
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
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $41.6Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026