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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Former SEC-registered adviser

T••••• I••••••••• L•••

Former SEC-registered adviserBerwyn, PennsylvaniaCRD 105954SEC 801-36220IAPD

Latest filing Jul 6, 2016

First filing on the tape Jan 17, 2012 · 21 filings

RAUM

$538M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

0.0%

$0 individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

n/a

derived; firm RAUM over IAPD count

Employees

13 advisory (5.B.1)

Offices

n/a

beyond the principal office

Private funds

$32.8M gross assets

History

21 filings and snapshots on the tape

RAUM$538M as of Feb 29, 2016

Jan 17, 2012$13B then

HNW client RAUM: no history

State-registered IARs (5.B.3)0 as of Feb 29, 2016

Feb 5, 20132 then

Employees (5.A)29 as of Feb 29, 2016

Feb 5, 201395 then

Private funds6 as of Feb 29, 2016

Jan 17, 201219 then

RAUM -29% over the last fiscal year-63% a year over threeIARs 0 to 0

Practice profile

derived from the filing of Jul 6, 2016; every figure names its basis

RAUM per advisor: unknownderivedRAUM over IAPD advisors; not a book size
Clients per advisor: unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client: unknownderivedHNW RAUM over HNW clients
Average account: $41.4MderivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: unknownderivedItem 5.A over advisors
Advisors per office: unknownderived1 offices incl. principal (1.F.5)
RAUM growth, one year: -29%derivedbetween the last two annual amendments
Advisor growth, one year: unknownderivedItem 5.B.3 between annual amendments
Client growth, one year: unknownderived
Compensation: percentage of assets, performance-basedreportedItem 5.E
Advisory activities: portfolio management for businesses and institutions, portfolio management for investment companiesreportedItem 5.G
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)
compensates persons for client referrals (8.G.1)
compensates non-employees for client referrals (8.G.2)
a related person has custody of client securities (9.B.1.b)

Where the RAUM sits

Form ADV Item 5.D, latest filing

This filing has no Item 5.D breakdown (filings before 2017 reported ranges, not amounts).

Individual clients: n/areported
HNW clients: n/areported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 13reported
Financial planning clients: 0reported
Wrap fee programs: noreported
Custody of client assets: noreported
Compensation: % of AUM, performancereported
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

K••• J•••• Z••••• to B•• M••••• S••••••••• C•••••••••
Feb 12, 2015 · Other
K•••• P••• O••••••• to P••• Q••••••••• S••••••••
Mar 26, 2013 · Other
E••••• H••••• H•••• to O•••• W•••••• I•••
Apr 10, 2007 · Other
J••••• M• H•••••• to B•••••••• I••••••••• M••••••••• L••
Dec 20, 2006 · Other

Joined, latest

E••••• H••••• H•••• from C•••••••• G••••• M•••••• I•••
Jan 24, 2006 · Other
J••••• M• H•••••• from R••••••••• A•••• M••••••••• I•••
Jan 17, 2006 · Other
K••• J•••• Z••••• from R••••••••• A•••• M••••••••• I•••
Jan 30, 2003 · Other

Every departure Every arrival

Private funds

28 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
T••••• L••••••••• E••••• M••••• L••no longer reported	Hedge Fund	$35.6M	21	Jan 17, 2012
T••••• L••••••••• E•••••• L•••no longer reported	Hedge Fund	$35.6M	21	Jan 17, 2012
T••••• I••••••••• G••••• L•••	Other Private Fund	$15.8M	5	Jan 17, 2012
T••••• G•••••• M••••• F••• L•••	Other Private Fund	$6.1M	10	Feb 20, 2015
T••••• G•••••• L•••	Other Private Fund	$5.6M	9	Feb 20, 2015
T••••• A••••• L•••no longer reported	Hedge Fund	$4.8M	4	Feb 5, 2013
T••••• S••••• O••••••••• L•••no longer reported	Hedge Fund	$4.5M	6	Jan 17, 2012
T••••• M••••• L•••••• L•••	Other Private Fund	$3.8M	8	Jan 17, 2012
T••••• I•••••• L•••no longer reported	Other Private Fund	$2.5M	4	Jan 17, 2012
T••••• G••••• R•••••••• • I••••••••• L••••••••• L•••no longer reported	Hedge Fund	$1.2M	7	Jan 17, 2012
T••••• E••••••• M••••••• L•••no longer reported	Other Private Fund	$1.2M	2	Jan 17, 2012
T••••• T••••• L•••no longer reported	Hedge Fund	$1.1M	4	Jan 17, 2012
T••••• C••••••••• G••••• G••••• L•••	Other Private Fund	$1.1M	2	Feb 20, 2015
T••••• M••••• N••••••• L•••no longer reported	Hedge Fund	$932,737	3	Jan 17, 2012
T••••• G••••• M•••••• S••••••• L••••••••• L•••no longer reported	Hedge Fund	$752,865	4	Jan 17, 2012
T••••• G••••• F•••••••• S••••••• M•••••• L•••no longer reported	Hedge Fund	$706,268	2	Feb 5, 2013
T••••• C••••••••• I••••••••• L•••no longer reported	Other Private Fund	$684,066	4	Jan 17, 2012
T••••• P••••• R••• L•••no longer reported	Other Private Fund	$675,869	3	Jan 17, 2012
T••••• N•••••••• M•••••• L•••no longer reported	Hedge Fund	$622,729	5	Feb 5, 2013
T••••• N••••••••• L•••no longer reported	Hedge Fund	$622,728	3	Jan 17, 2012
T••••• G••••• T•• L••••••••• L•••no longer reported	Hedge Fund	$615,993	4	Jan 17, 2012
T••••• T••••••• A••••••••• L•••no longer reported	Other Private Fund	$577,681	3	Jan 17, 2012
T••••• Q••••••••• M•••• C••• L•••no longer reported	Other Private Fund	$507,193	3	Jan 17, 2012
T••••• G•••••• O••••••• F•••• L•••	Other Private Fund	$428,747	2	Feb 20, 2015
T••••• S•••••••• L•••no longer reported	Hedge Fund	$216,325	6	Jan 17, 2012
T••••• N•••••••• O•••••••• L•••no longer reported	Hedge Fund	$1	2	Feb 5, 2013
T••••• G••••• F•••••••• S••••••• O•••••••• L•••no longer reported	Hedge Fund	$1	8	Feb 5, 2013
T••••• L••••••••• E••••• O••••••• L••no longer reported	Hedge Fund	$0	0	Jan 17, 2012

Owners and control persons

Schedule A and B, latest filing

T•••••• R•••••• E••••• · Chief Executive Officer And Chief Investment Officercontrol
since 03/1990 · owns less than 5%
T•••••• R•••••• E••••• · Chairmancontrol
since 01/2012 · owns 50% to 75% of T••••• I••••••••• F•••••••• I•••
B••••• R•••••• W•••••• · Chief Accounting Officer & Chief Compliance Officer
since 06/2016 · owns less than 5%
M•••••• C••••••••• K•••• · Senior Portfolio Manager, Founder
since 03/1990 · owns less than 5%
T•••••• M•••• D•••• · Senior Portfolio Manager, Founder
since 03/1990 · owns less than 5%

Entity owners

T••••• I••••••••• F•••••••• I••• · Limited Partner
direct · owns 75% or more
T••••• I••••••••• G•• L•• · General Partner
direct · owns less than 5%

Related persons

Schedule D 7.A

No related person reported.

Advisers that list T••••• I••••••••• L••• as a related person

106128 y

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

What changed

consecutive filings, newest first

Accounts · 23 to 13
Oct 2, 2015 to Feb 29, 2016
Advisory employees · 16 to 13
Oct 2, 2015 to Feb 29, 2016
Employees · 37 to 29
Oct 2, 2015 to Feb 29, 2016
Discretionary RAUM · $754M to $538M
Oct 2, 2015 to Feb 29, 2016
Non-discretionary RAUM · $1.4M to $663,545
Oct 2, 2015 to Feb 29, 2016
RAUM · $756M to $538M
Oct 2, 2015 to Feb 29, 2016
Accounts · 118 to 23
Dec 17, 2014 to Feb 20, 2015
Advisory employees · 31 to 16
Dec 17, 2014 to Feb 20, 2015
Advisory activities · 3 to 2
Dec 17, 2014 to Feb 20, 2015
BD registered reps · 14 to 3
Dec 17, 2014 to Feb 20, 2015
Employees · 95 to 37
Dec 17, 2014 to Feb 20, 2015
State-registered IARs · 1 to 0
Dec 17, 2014 to Feb 20, 2015
Private funds · 15 to 6
Dec 17, 2014 to Feb 20, 2015
Discretionary RAUM · $7.1B to $754M
Dec 17, 2014 to Feb 20, 2015
Non-discretionary RAUM · $129M to $1.4M
Dec 17, 2014 to Feb 20, 2015
RAUM · $7.2B to $756M
Dec 17, 2014 to Feb 20, 2015
Accounts · 213 to 118
Feb 5, 2013 to Feb 12, 2014
Advisory employees · 33 to 31
Feb 5, 2013 to Feb 12, 2014
BD registered reps · 28 to 14
Feb 5, 2013 to Feb 12, 2014
State-registered IARs · 2 to 1
Feb 5, 2013 to Feb 12, 2014
Private funds · 16 to 15
Feb 5, 2013 to Feb 12, 2014
Discretionary RAUM · $11B to $7.1B
Feb 5, 2013 to Feb 12, 2014
Non-discretionary RAUM · $180M to $129M
Feb 5, 2013 to Feb 12, 2014
RAUM · $11B to $7.2B
Feb 5, 2013 to Feb 12, 2014
Accounts · 271 to 213
May 29, 2012 to Feb 5, 2013
Advisory employees · unset to 33.0
May 29, 2012 to Feb 5, 2013
BD registered reps · unset to 28.0
May 29, 2012 to Feb 5, 2013
Employees · unset to 95.0
May 29, 2012 to Feb 5, 2013
State-registered IARs · unset to 2.0
May 29, 2012 to Feb 5, 2013
Private funds · 19 to 16
May 29, 2012 to Feb 5, 2013
Discretionary RAUM · $13B to $11B
May 29, 2012 to Feb 5, 2013
Non-discretionary RAUM · $239M to $180M
May 29, 2012 to Feb 5, 2013
RAUM · $13B to $11B
May 29, 2012 to Feb 5, 2013
Business name · T••••• I••••••••• P••••••• I•• to T••••• I••••••••• L•••
Jan 18, 2012 to Feb 16, 2012
Legal name · T••••• I••••••••• P••••••• I•• to T••••• I••••••••• L•••
Jan 17, 2012 to Jan 18, 2012
Succession · true to false
Jan 17, 2012 to Jan 18, 2012

Signals

1 dated events

T••••• I••••••••• P••••••• I•• reported succeeding to the business of Another Adviser (Form ADV Item 4)
Jan 17, 2012 · Succession (Item 4) · fact

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