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
V•• S•••• • T•••• I••
Latest filing Mar 27, 2026
First filing on the tape Mar 22, 2012 · 20 filings
SEC status approved since Jun 30, 1976
RAUM
$483M
reported, Item 5.F
Discretionary
92%
of RAUM
Private clients
85%
$412M individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$161M
derived; firm RAUM over IAPD count
Employees
6
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
20 filings and snapshots on the tape
RAUM$483M as of Mar 27, 2026
Mar 22, 2012$238M then
HNW client RAUM$403M as of Mar 27, 2026
Mar 29, 2018$229M then
State-registered IARs (5.B.3)3 as of Mar 27, 2026
Mar 22, 20120 then
Employees (5.A)6 as of Mar 27, 2026
Mar 25, 20135 then
Private funds: no history
RAUM +12% over the last fiscal year+12% a year over threeIARs 2 to 3
Practice profile
derived from the filing of Mar 27, 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
- Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
- RAUM per advisor
- $161MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 31derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $5.3MderivedHNW RAUM over HNW clients
- Average account
- $1.8MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 92%derivedof RAUM
- Institutional
- 5.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.0derivedItem 5.A over advisors
- Advisors per office
- 3.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +12%derivedbetween the last two annual amendments
- Advisor growth, one year
- +50%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +1.1%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
- Custody
- $1.9M, 1 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$403M84%
- Corporations and businesses$45.4M9.4%
- Charitable organizations$25.2M5.2%
- Individuals$9.1M1.9%
- Individual clients
- 18reported
- HNW clients
- 76reported
- Pension plan clients
- 0reported
- Charitable clients
- 4reported
- Accounts
- 271reported
- Financial planning clients
- 101-250reported
- Wrap fee programs
- noreported
- Custody of client assets
- $1.9M for 1 clientsreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=0.85 fund_share=0.0 institutional_share=0.05 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| J•••• L•••• C••••••Chartered Financial Analyst | San Francisco, Ca | Dec 15, 2020 | 28 y | 0 |
| B•••••• A•• W•••••Chartered Financial Analyst | San Francisco, Ca | Dec 15, 2020 | 25 y | 0 |
| E••• X••••• K•Chartered Financial Analyst | San Francisco, Ca | Feb 9, 2026 | 15 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
- E••• X••••• K• from S••• C•••••• M••••••••• L••Feb 9, 2026 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- C••••••• J••••• L•••• · Chairmancontrolsince 06/2010 · owns 50% to 75%
- W•••••• B••••••• A•• · Treasurer And Secretarycontrolsince 05/2001 · owns 50% to 75%
- L•• L••••••• V••••••• · Chief Compliance Officersince 10/2024 · owns less than 5%
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 |
|---|---|---|---|---|---|
| San Francisco, Ca · principal | 3 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- very high RAUM per advisorStatic outlier · filing Mar 27, 2026RAUM per registered advisor of $161,011,875 against a peer median of $55,731,856 (3254 comparable advisers, 100.0th percentile, 3.7 robust deviations)peers: independent wealth managers, $100M to $500M (3,254) · 100% percentile
What changed
consecutive filings, newest first
- Accounts · 267 to 271Mar 28, 2025 to Mar 27, 2026
- Advisory employees · 2 to 3Mar 28, 2025 to Mar 27, 2026
- Individual clients · 17 to 18Mar 28, 2025 to Mar 27, 2026
- Assets in custody · $1.8M to $1.9MMar 28, 2025 to Mar 27, 2026
- Employees · 5 to 6Mar 28, 2025 to Mar 27, 2026
- Financial planning clients · 51-100 to 101-250Mar 28, 2025 to Mar 27, 2026
- State-registered IARs · 2 to 3Mar 28, 2025 to Mar 27, 2026
- Discretionary RAUM · $385M to $443MMar 28, 2025 to Mar 27, 2026
- HNW RAUM · $357M to $403MMar 28, 2025 to Mar 27, 2026
- Individual RAUM · $8.6M to $9.1MMar 28, 2025 to Mar 27, 2026
- Non-discretionary RAUM · $45.0M to $40.1MMar 28, 2025 to Mar 27, 2026
- RAUM · $430M to $483MMar 28, 2025 to Mar 27, 2026
- Accounts · 260 to 267Nov 8, 2024 to Mar 28, 2025
- HNW clients · 75 to 76Nov 8, 2024 to Mar 28, 2025
- Individual clients · 18 to 17Nov 8, 2024 to Mar 28, 2025
- Assets in custody · $1.8M to $1.8MNov 8, 2024 to Mar 28, 2025
- Financial planning clients · 51-100 to 51-100Nov 8, 2024 to Mar 28, 2025
- Discretionary RAUM · $342M to $385MNov 8, 2024 to Mar 28, 2025
- HNW RAUM · $314M to $357MNov 8, 2024 to Mar 28, 2025
- Individual RAUM · $8.3M to $8.6MNov 8, 2024 to Mar 28, 2025
- Non-discretionary RAUM · $39.1M to $45.0MNov 8, 2024 to Mar 28, 2025
- RAUM · $381M to $430MNov 8, 2024 to Mar 28, 2025
- Accounts · 257 to 260Mar 29, 2023 to Mar 26, 2024
- Charity clients · 5 to 4Mar 29, 2023 to Mar 26, 2024
- Individual clients · 16 to 18Mar 29, 2023 to Mar 26, 2024
- Assets in custody · $1.7M to $1.8MMar 29, 2023 to Mar 26, 2024
- Employees · 4 to 5Mar 29, 2023 to Mar 26, 2024
- Discretionary RAUM · $311M to $342MMar 29, 2023 to Mar 26, 2024
- HNW RAUM · $278M to $314MMar 29, 2023 to Mar 26, 2024
- Individual RAUM · $16.2M to $8.3MMar 29, 2023 to Mar 26, 2024
- Non-discretionary RAUM · $37.3M to $39.1MMar 29, 2023 to Mar 26, 2024
- RAUM · $348M to $381MMar 29, 2023 to Mar 26, 2024
- Accounts · 260 to 257Mar 31, 2022 to Mar 29, 2023
- HNW clients · 76 to 75Mar 31, 2022 to Mar 29, 2023
- Individual clients · 14 to 16Mar 31, 2022 to Mar 29, 2023
- Assets in custody · $2.1M to $1.7MMar 31, 2022 to Mar 29, 2023
- Discretionary RAUM · $359M to $311MMar 31, 2022 to Mar 29, 2023
- HNW RAUM · $335M to $278MMar 31, 2022 to Mar 29, 2023
- Individual RAUM · $7.3M to $16.2MMar 31, 2022 to Mar 29, 2023
- Non-discretionary RAUM · $44.7M to $37.3MMar 31, 2022 to Mar 29, 2023
Signals
1 dated events
- Andrew Mark Sherman (Chief Compliance Officer And President) no longer on Schedule A of V•• S•••• • T•••• I•• (listed 2020-06-26, absent 2020-09-25)Sep 25, 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.
How to reach
public business contact points only, each with its source
- Website
- H•••••••••reportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 415-981-3455reportedpublic record, Form ADV, Mar 27, 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
- $161Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026