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.
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SEC-registered adviser
K••••••••• F••••• A•••••••
Legal name K••••••••• F••••• • C••• L•••
Latest filing Jul 28, 2026
First filing on the tape Nov 30, 2011 · 54 filings
SEC status approved since Dec 16, 1988
RAUM
$4.7B
reported, Item 5.F
Discretionary
84%
of RAUM
Private clients
84%
$4.0B individuals and HNW
Advisors
5
registered through the firm on IAPD
RAUM per advisor
$940M
derived; firm RAUM over IAPD count
Employees
39
18 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
12
reported on Schedule D
History
54 filings and snapshots on the tape
RAUM$4.7B as of Jul 28, 2026
Mar 28, 2012$3.9B then
HNW client RAUM$3.9B as of Jul 28, 2026
Mar 29, 2018$2.9B then
State-registered IARs (5.B.3)5 as of Jul 28, 2026
Mar 28, 20120 then
Employees (5.A)39 as of Jul 28, 2026
Mar 22, 201337 then
Private funds12 as of Jul 28, 2026
Mar 28, 201220 then
RAUM -0.8% over the last fiscal year+2.9% a year over threeIARs 5 to 5
Practice profile
derived from the filing of Jul 28, 2026; every figure names its basis
Archetypes, each a printed rule
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- RIA with heavy alternatives · a wealth manager whose private fund gross assets are at least 25 percent of RAUM, or five or more private funds
- RIA with private funds · a wealth manager (private-client share at least 50 percent) that reports at least one private fund on Schedule D 7.B.(1)
- RAUM per advisor
- $940MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 247derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $4.0MderivedHNW RAUM over HNW clients
- Average account
- $3.6MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 84%derivedof RAUM
- Institutional
- 9.5%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 7.8derivedItem 5.A over advisors
- Advisors per office
- 2.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- -0.8%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +5.3%derived
- Compensation
- percentage of assets, fixed fees, performance-basedreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, selection of other advisersreportedItem 5.G
- Custody
- $2.6B, 476 clientsreportedItem 9.A
- 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
- 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- an independent public accountant performs a surprise examination (9.C.1)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$3.9B83%
- Charitable organizations$445M9.5%
- Pooled investment vehicles$172M3.7%
- Corporations and businesses$110M2.3%
- Individuals$66.8M1.4%
- Pension and profit-sharing plans$2.0M0.0%
- Individual clients
- 260reported
- HNW clients
- 977reported
- Pension plan clients
- 2reported
- Charitable clients
- 41reported
- Accounts
- 1,309reported
- Financial planning clients
- 101-250reported
- Wrap fee programs
- noreported
- Custody of client assets
- $2.6B for 476 clientsreported
- Compensation
- % of AUM, fixed, performancereported
- Class basis
- private_client_share=0.84 fund_share=0.04 institutional_share=0.1 related_bd=false related_bank=false bd_reps=1.0derived
Advisors registered through the firm
5 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| J••••••• R••••••Chartered Financial Analyst, Chartered Investment Counselor | New York, Ny | Mar 18, 2005 | 40 y | 0 |
| L••••••• E••••• A••Chartered Investment Counselor | New York, Ny | Aug 30, 2021 | 38 y | 0 |
| K•••••• D•••• P•••••••• | New York, Ny | Sep 2, 2021 | 31 y | 0 |
| J•••• W••••• F••••• | New York, Ny | Sep 3, 2021 | 15 y | 0 |
| D•••• B••• R•••••• | New York, Ny | Mar 30, 2026 | 10 y | 1 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
none on the tape
Joined, latest
- D•••• B••• R•••••• from W••••• W•••••Mar 30, 2026 · Other
Private funds
24 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| W••••••• V••••••• I• L•• | Private Equity Fund | $77.1M | 26 | Mar 28, 2012 |
| K••••••••• F••••• V•••••• F•••• L••• | Venture Capital Fund | $25.8M | 44 | Mar 29, 2019 |
| K••••••••• F••••• V•••••• F••• I•• L••• | Venture Capital Fund | $23.3M | 40 | Mar 31, 2021 |
| K••••••••• F••••• V•••••• F••• I••• L••• | Venture Capital Fund | $13.3M | 32 | Mar 31, 2023 |
| K••••••••• F••••• A••• F•••• L•no longer reported | Other Private Fund | $12.1M | 43 | Mar 28, 2012 |
| K• I••••••••• V••• L•• | Venture Capital Fund | $9.7M | 31 | Apr 25, 2014 |
| K• I••••••••• V••• L•• | Private Equity Fund | $8.9M | 21 | Mar 28, 2012 |
| W••••••• T••••• F•••• L•• | Private Equity Fund | $6.7M | 31 | Mar 28, 2012 |
| K• I••••••••• V•• L•• | Private Equity Fund | $3.2M | 39 | Mar 28, 2012 |
| K••••••••• F••••• G••••• F•••• L•no longer reported | Other Private Fund | $2.8M | 10 | Mar 28, 2012 |
| K• I••••••••• I•• L•• | Private Equity Fund | $2.6M | 40 | Mar 28, 2012 |
| K• I••••••••• V• L•• | Private Equity Fund | $1.1M | 40 | Mar 28, 2012 |
| K• I••••••••• P•••••••• L• I••no longer reported | Private Equity Fund | $845,799 | 30 | Mar 28, 2012 |
| K• I••••••••• I••• L•• | Private Equity Fund | $402,697 | 44 | Mar 28, 2012 |
| K• I••••••••• P•••••••• L• I•no longer reported | Private Equity Fund | $348,616 | 0 | Mar 28, 2012 |
| K••••••••• C••••••••• P•••••••• 2•• A••••••••no longer reported | Private Equity Fund | $290,714 | 0 | Mar 28, 2012 |
| K••••••••• C••••••••• P•••••••• B•no longer reported | Private Equity Fund | $211,446 | 18 | Mar 28, 2012 |
| K• I••••••••• P•••••••• L• I•no longer reported | Private Equity Fund | $43,476 | 0 | Mar 28, 2012 |
| K• I••••••••• I•• L••no longer reported | Private Equity Fund | $34,362 | 38 | Mar 28, 2012 |
| W••••••• I••••••••• L••no longer reported | Private Equity Fund | $0 | 0 | Mar 28, 2012 |
| K• I••••••••• I• L••no longer reported | Private Equity Fund | $0 | 30 | Mar 28, 2012 |
| K• S•••••••• L••no longer reported | Private Equity Fund | $0 | 11 | Mar 28, 2012 |
| F• I••••••••• I• L•• | Private Equity Fund | $0 | 12 | Mar 28, 2012 |
| K• M•••••••• P••••••• I• L••no longer reported | Private Equity Fund | $0 | 6 | Mar 28, 2012 |
Owners and control persons
Schedule A and B, latest filing
- C•••••••• M•••• · Chief Compliance Officercontrolsince 01/2017 · owns less than 5%
- C••••• S••••• H• · Limited Partner And Chief Operating Officercontrolsince 01/2022 · owns 5% to 10%
- F•••••• J••••• W••••• · Limited Partner, Co-Chief Executive Officer, Presidentcontrolsince 01/2022 · owns 10% to 25%
- F•••••• K••••••• H••••• · Limited Partner, Executive Chairmancontrolsince 01/2022 · owns 10% to 25%
- L••• Y•••••• · Limited Partner And Chief Financial Officercontrolsince 01/2022 · owns less than 5%
- P••••••••• K••••••• D•••• · Limited Partner, Chairman, Co-Chief Executive Officercontrolsince 01/2022 · owns 10% to 25%
- R••••••• J••••••• · Limited Partnercontrolsince 01/2022 · owns 5% to 10%
- A••• L•••••••• E••••• · Limited Partner K••••••••• And His I••••, Fak, Khf & Kdp T••••••• K••••••••• And His I••••, Fak, Khf & Kdp T•••••••since 01/2022 · owns 5% to 10%
Entity owners
- J••••• K••••••••• T•••• • D•••• · Limited Partnerdirect · owns 10% to 25%
- J••••• K••••••••• T•••• • D•••• 7•••••• F•• F•••••••• A• K••••••••• A•• H•• I••••• F••• K•• • K•• T••••••• · Limited Partnerdirect · owns 10% to 25%
- K••••••••• M••••••••• C••••••••• · General Partnerdirect · owns less than 5%
Related persons
Schedule D 7.A
- B••• M••••••••• L••pooled vehicle sponsorn
- K• I••••••••• M••••••• L••pooled vehicle sponsorn
Advisers that list K••••••••• F••••• A••••••• as a related person
- 304186 n
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| New York, Ny · principal | 5 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
- West Palm Beach, FL2 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- very high RAUM per advisorStatic outlier · filing Jul 28, 2026RAUM per registered advisor of $939,766,660 against a peer median of $146,690,280 (1222 comparable advisers, 99.0th percentile, 8.0 robust deviations)peers: independent wealth managers, $1B to $5B (1,222) · 99% percentile
- high employee count relative to advisorsStatic outlier · filing Jul 28, 2026employees per registered advisor of 7.8 against a peer median of 1.5 (1101 comparable advisers, 99.0th percentile, 13.0 robust deviations)peers: independent wealth managers, $1B to $5B (1,101) · 99% percentile
What changed
consecutive filings, newest first
- Accounts · 1,267 to 1,309Jan 22, 2026 to Mar 30, 2026
- Charity clients · 46 to 41Jan 22, 2026 to Mar 30, 2026
- Corporate clients · 32 to 17Jan 22, 2026 to Mar 30, 2026
- HNW clients · 929 to 977Jan 22, 2026 to Mar 30, 2026
- Individual clients · 246 to 260Jan 22, 2026 to Mar 30, 2026
- Assets in custody · $3.1B to $2.6BJan 22, 2026 to Mar 30, 2026
- Employees · 40 to 39Jan 22, 2026 to Mar 30, 2026
- Financial planning clients · 51-100 to 101-250Jan 22, 2026 to Mar 30, 2026
- Discretionary RAUM · $4.0B to $4.0BJan 22, 2026 to Mar 30, 2026
- HNW RAUM · $3.6B to $3.9BJan 22, 2026 to Mar 30, 2026
- Individual RAUM · $51.8M to $66.8MJan 22, 2026 to Mar 30, 2026
- Non-discretionary RAUM · $777M to $732MJan 22, 2026 to Mar 30, 2026
- Pension RAUM · $1.8M to $2.0MJan 22, 2026 to Mar 30, 2026
- Pooled vehicle RAUM · $378M to $172MJan 22, 2026 to Mar 30, 2026
- RAUM · $4.7B to $4.7BJan 22, 2026 to Mar 30, 2026
- Financial planning clients · 51-100 to 51-100Mar 31, 2025 to Jul 31, 2025
- Accounts · 1,301 to 1,267Jul 30, 2024 to Mar 31, 2025
- Advisory employees · 20 to 18Jul 30, 2024 to Mar 31, 2025
- Charity clients · 47 to 46Jul 30, 2024 to Mar 31, 2025
- HNW clients · 958 to 929Jul 30, 2024 to Mar 31, 2025
- Individual clients · 248 to 246Jul 30, 2024 to Mar 31, 2025
- Pooled vehicle clients · 14 to 12Jul 30, 2024 to Mar 31, 2025
- Assets in custody · $2.9B to $3.1BJul 30, 2024 to Mar 31, 2025
- Private funds · 13 to 12Jul 30, 2024 to Mar 31, 2025
- Discretionary RAUM · $3.9B to $4.0BJul 30, 2024 to Mar 31, 2025
- HNW RAUM · $3.5B to $3.6BJul 30, 2024 to Mar 31, 2025
- Individual RAUM · $53.8M to $51.8MJul 30, 2024 to Mar 31, 2025
- Non-discretionary RAUM · $700M to $777MJul 30, 2024 to Mar 31, 2025
- Pension RAUM · $1.2M to $1.8MJul 30, 2024 to Mar 31, 2025
- Pooled vehicle RAUM · $436M to $378MJul 30, 2024 to Mar 31, 2025
- RAUM · $4.6B to $4.7BJul 30, 2024 to Mar 31, 2025
- Accounts · 1,291 to 1,301Jul 28, 2023 to Mar 28, 2024
- Advisory employees · 19 to 20Jul 28, 2023 to Mar 28, 2024
- Charity clients · 37 to 47Jul 28, 2023 to Mar 28, 2024
- Corporate clients · 27 to 32Jul 28, 2023 to Mar 28, 2024
- HNW clients · 944 to 958Jul 28, 2023 to Mar 28, 2024
- Individual clients · 255 to 248Jul 28, 2023 to Mar 28, 2024
- Pension plan clients · 3 to 2Jul 28, 2023 to Mar 28, 2024
- Assets in custody · $2.8B to $2.9BJul 28, 2023 to Mar 28, 2024
- Financial planning clients · 101-250 to 51-100Jul 28, 2023 to Mar 28, 2024
Signals
3 dated events
- K••••••••• F••••• W••••• A••••••• reported succeeding to the business of Another Adviser (Form ADV Item 4)Aug 28, 2020 · Succession (Item 4) · fact
- Frederick Klingenstein (Member, Chairman Emeritus) no longer on Schedule A of K••••••••• F••••• A••••••• (listed 2018-12-06, absent 2019-03-29)Mar 29, 2019 · Control person left · inference
- John Klingenstein (Member) no longer on Schedule A of K••••••••• F••••• A••••••• (listed 2018-12-06, absent 2019-03-29)Mar 29, 2019 · Control person left · inference
Across DFX
shared identifiers only, never a name match
- K••••••••• F••••• A••••••• · Independent Sponsorsshared crd · capital_provider
- K••••••••• F••••• A••••••• · Private Equityshared crd · organization
- K••••••••• F••••• A••••••• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Website
- K•••••••••.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 212-492-7000reportedpublic record, Form ADV, Jul 28, 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
- $940Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026