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
Brown Capital Management, LLC
Latest filing Jul 13, 2026
First filing on the tape Mar 30, 2012 · 34 filings
SEC status approved since Jul 14, 1983
RAUM
$4.5B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$2.0M individuals and HNW
Advisors
2
registered through the firm on IAPD
RAUM per advisor
$2.3B
derived; firm RAUM over IAPD count
Employees
37
13 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
34 filings and snapshots on the tape
RAUM$4.5B as of Jul 13, 2026
Mar 30, 2012$4.1B then
HNW client RAUM$2.0M as of Jul 13, 2026
Mar 28, 2018$62.6M then
State-registered IARs (5.B.3)3 as of Jul 13, 2026
Mar 28, 201310 then
Employees (5.A)37 as of Jul 13, 2026
Mar 28, 201334 then
Private funds: no history
RAUM -44% over the last fiscal year-25% a year over threeIARs 4 to 3
Practice profile
derived from the filing of Jul 13, 2026; every figure names its basis
- RAUM per advisor
- $2.3BderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.0MderivedHNW RAUM over HNW clients
- Average account
- $137MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 37%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 18.5derivedItem 5.A over advisors
- Advisors per office
- 2.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- -44%derivedbetween the last two annual amendments
- Advisor growth, one year
- -25%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for investment companiesreportedItem 5.G
- Ownership
- controlled by a public reporting companyderived
- 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- controlled by a public reporting company (10.A)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Investment companies$2.5B55%
- State and municipal entities$1.2B26%
- Charitable organizations$402M8.9%
- Corporations and businesses$356M7.8%
- Pension and profit-sharing plans$63.9M1.4%
- Insurance companies$50.3M1.1%
- High-net-worth individuals$2.0M0.0%
- Individual clients
- n/areported
- HNW clients
- 1reported
- Pension plan clients
- 2reported
- Charitable clients
- 10reported
- Accounts
- 33reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=0.55 institutional_share=0.37 related_bd=false related_bank=false bd_reps=2.0derived
Advisors registered through the firm
2 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Maurice Lamar HaywoodChartered Financial Analyst | Baltimore, Md | Dec 2, 2024 | 31 y | 0 |
| Damien Lawrence DavisChartered Financial Analyst | Baltimore, Md | Jan 7, 2025 | 16 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 headcount0 left over 36 months
Left, latest
- Edwin Lugo to Rmr Wealth ManagementJul 21, 2006 · Other
Joined, latest
none on the tape
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Carl Eddie Brown · Founder, Executive Chairman, & Senior Portfolio Managercontrolsince 01/2012 · owns less than 5%
- Brown Jennifer Bunkley · Directorcontrolsince 06/2011 · owns less than 5%
- E Robert Burks · Chief Compliance Officercontrolsince 02/2019 · owns less than 5%
- Leonard Michael Forster · Coo, Cfocontrolsince 12/2019 · owns less than 5%
- J Michael Klag · Directorcontrolsince 12/2019 · owns less than 5%
- Allison Keith Lee · Ceo, Cio & Senior Portfolio Managercontrolsince 01/2012 · owns less than 5%
- Tsedal Neeley · Directorcontrolsince 06/2020 · owns less than 5%
- L Robert Young · President And Head Of Marketing And Sales/Client Servicecontrolsince 01/2023 · owns less than 5%
Entity owners
- Brown Capital Management Holdings, Inc. · Memberdirect · owns 75% or more
- Argent Trust Company · Trustee Of Brown Capital Management Esop Trustindirect · owns F of Brown Capital Management Esop Trust
- Brown Capital Management Esop Trust · Shareholderindirect · owns 75% or more of Brown Capital Management Holdings, Inc.
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Baltimore, Md · principal | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- RAUM down 25 %Change between filings · filing Mar 31, 2026RAUM (Item 5.F) moved from $8,098,760,315 to $4,536,497,889 (-44.0%) between the annual amendments of 2025-03-28 and 2026-03-31; the peer median change was +11.0% (231 comparable advisers, 2.0th percentile of changes)peers: other advisers, $1B to $5B (231) · 2.2% percentile
What changed
consecutive filings, newest first
- Accounts · 109 to 33Feb 16, 2026 to Mar 31, 2026
- Advisory employees · 14 to 13Feb 16, 2026 to Mar 31, 2026
- Charity clients · 14 to 10Feb 16, 2026 to Mar 31, 2026
- Corporate clients · 7 to 5Feb 16, 2026 to Mar 31, 2026
- HNW clients · 38 to 1Feb 16, 2026 to Mar 31, 2026
- Individual clients · 17.0 to unsetFeb 16, 2026 to Mar 31, 2026
- Pension plan clients · 12 to 2Feb 16, 2026 to Mar 31, 2026
- Employees · 36 to 37Feb 16, 2026 to Mar 31, 2026
- State-registered IARs · 4 to 3Feb 16, 2026 to Mar 31, 2026
- Discretionary RAUM · $8.1B to $4.5BFeb 16, 2026 to Mar 31, 2026
- HNW RAUM · $124M to $2.0MFeb 16, 2026 to Mar 31, 2026
- Individual RAUM · 13589489.0 to unsetFeb 16, 2026 to Mar 31, 2026
- Pension RAUM · $543M to $63.9MFeb 16, 2026 to Mar 31, 2026
- RAUM · $8.1B to $4.5BFeb 16, 2026 to Mar 31, 2026
- Accounts · 122 to 109Mar 29, 2024 to Mar 28, 2025
- Advisory employees · 16 to 14Mar 29, 2024 to Mar 28, 2025
- BD registered reps · 1 to 2Mar 29, 2024 to Mar 28, 2025
- Charity clients · 16 to 14Mar 29, 2024 to Mar 28, 2025
- HNW clients · 19 to 38Mar 29, 2024 to Mar 28, 2025
- Individual clients · 11 to 17Mar 29, 2024 to Mar 28, 2025
- Pension plan clients · 7 to 12Mar 29, 2024 to Mar 28, 2025
- Employees · 37 to 36Mar 29, 2024 to Mar 28, 2025
- Financial planning clients · 0 to 0Mar 29, 2024 to Mar 28, 2025
- Discretionary RAUM · $11B to $8.1BMar 29, 2024 to Mar 28, 2025
- HNW RAUM · $116M to $124MMar 29, 2024 to Mar 28, 2025
- Individual RAUM · $13.4M to $13.6MMar 29, 2024 to Mar 28, 2025
- Pension RAUM · $562M to $543MMar 29, 2024 to Mar 28, 2025
- RAUM · $11B to $8.1BMar 29, 2024 to Mar 28, 2025
- Accounts · 132 to 122Jul 31, 2023 to Mar 29, 2024
- Advisory employees · 17 to 16Jul 31, 2023 to Mar 29, 2024
- Charity clients · 23 to 16Jul 31, 2023 to Mar 29, 2024
- Corporate clients · 9 to 7Jul 31, 2023 to Mar 29, 2024
- HNW clients · 36 to 19Jul 31, 2023 to Mar 29, 2024
- Individual clients · 22 to 11Jul 31, 2023 to Mar 29, 2024
- Pension plan clients · 17 to 7Jul 31, 2023 to Mar 29, 2024
- Pooled vehicle clients · 0.0 to unsetJul 31, 2023 to Mar 29, 2024
- Employees · 38 to 37Jul 31, 2023 to Mar 29, 2024
- State-registered IARs · 12 to 4Jul 31, 2023 to Mar 29, 2024
- Discretionary RAUM · $11B to $11BJul 31, 2023 to Mar 29, 2024
- HNW RAUM · $95.3M to $116MJul 31, 2023 to Mar 29, 2024
Signals
12 dated events
- Brown Capital Management, Llc reported RAUM $4.5B, down 44% from $8.1B (2026-02-16 to 2026-03-31)Mar 31, 2026 · RAUM change · derived
- Brown Capital Management, Llc reported RAUM $10.6B, down 40% from $17.6B (2022-04-05 to 2023-03-31)Mar 31, 2023 · RAUM change · derived
- L Robert Young (President And Head Of Marketing And Sales/Client Service) appeared on Schedule A of Brown Capital Management, LlcMar 31, 2023 · Control person joined · fact
- Brown Capital Management, Llc reported RAUM $18.5B, up 42% from $13.0B (2020-06-15 to 2021-03-30)Mar 30, 2021 · RAUM change · derived
- Eugene Cecil Flamer (Chief Administrative Officer) no longer on Schedule A of Brown Capital Management, Llc (listed 2020-06-15, absent 2021-03-30)Mar 30, 2021 · Control person left · inference
- Elizabeth Bettina Doulton (Director) no longer on Schedule A of Brown Capital Management, Llc (listed 2020-06-15, absent 2021-03-30)Mar 30, 2021 · Control person left · inference
- Franklin Charles Henderson (Director) no longer on Schedule A of Brown Capital Management, Llc (listed 2020-06-15, absent 2021-03-30)Mar 30, 2021 · Control person left · inference
- Tsedal Neeley (Director) appeared on Schedule A of Brown Capital Management, LlcMar 30, 2021 · Control person joined · fact
- J Michael Klag (Director) appeared on Schedule A of Brown Capital Management, LlcMar 30, 2021 · Control person joined · fact
- Leonard Michael Forster (Coo, Cfo) appeared on Schedule A of Brown Capital Management, LlcMar 30, 2020 · Control person joined · fact
- E Robert Burks (Chief Compliance Officer) appeared on Schedule A of Brown Capital Management, LlcFeb 25, 2019 · Control person joined · fact
- L. Donna Courtney (Chief Compliance Officer) no longer on Schedule A of Brown Capital Management, Llc (listed 2018-03-28, absent 2019-02-25)Feb 25, 2019 · 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.
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/brown-capital-managementreportedpublic record, Form ADV, Sep 17, 2026
- Website
- BROWNCAPITAL.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 410-837-3234reportedpublic record, Form ADV, Jul 13, 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
- Other adviserderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $2.3Bderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026