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
F•••• A••••••••• I••
Latest filing Mar 9, 2026
First filing on the tape Nov 11, 2011 · 35 filings
SEC status approved since Mar 6, 1996
RAUM
$941M
reported, Item 5.F
Discretionary
98%
of RAUM
Private clients
96%
$907M individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$314M
derived; firm RAUM over IAPD count
Employees
7
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
35 filings and snapshots on the tape
RAUM$941M as of Mar 9, 2026
Feb 14, 2012$155M then
HNW client RAUM$538M as of Mar 9, 2026
Mar 13, 2018$128M then
State-registered IARs (5.B.3)3 as of Mar 9, 2026
Feb 14, 20120 then
Employees (5.A)7 as of Mar 9, 2026
Mar 11, 20134 then
Private funds: no history
RAUM +17% over the last fiscal year+17% a year over threeIARs 2 to 3
Practice profile
derived from the filing of Mar 9, 2026; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- 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
- $314MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 588derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.2MderivedHNW RAUM over HNW clients
- Average account
- $299,215derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 98%derivedof RAUM
- Institutional
- 3.5%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.3derivedItem 5.A over advisors
- Advisors per office
- 3.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +17%derivedbetween the last two annual amendments
- Advisor growth, one year
- +50%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +2.6%derived
- Compensation
- percentage of assets, hourlyreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
- Custody
- $2.9M, 4 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)
- 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$538M57%
- Individuals$369M39%
- Charitable organizations$20.3M2.2%
- Pension and profit-sharing plans$13.1M1.4%
- Individual clients
- 1,518reported
- HNW clients
- 245reported
- Pension plan clients
- 9reported
- Charitable clients
- 28reported
- Accounts
- 3,144reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- $2.9M for 4 clientsreported
- Compensation
- % of AUM, hourlyreported
- Class basis
- private_client_share=0.96 fund_share=0.0 institutional_share=0.04 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 |
|---|---|---|---|---|
| D••••• P•••••• F•••• | Troy, Ny | Apr 10, 2018 | 40 y | 1 |
| A•••• J••••• F•••• | Troy, Ny | Aug 5, 2021 | 14 y | 0 |
| D•••••• W•••••• K•••••••• | Troy, Ny | Jul 1, 2025 | 13 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
- P••••••• M•••• W••••• to L•• F•••••••• L••Oct 10, 2022 · RIA to affiliated broker-dealer or bank
Joined, latest
none on the tape
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- F••••• D•••••• P•••••• · President, Chief Compliance Officer, And Portfolio Managercontrolsince 08/1989 · owns 75% or more
- F••••• A••••• J••••• · Portfolio Manager And Client Associatesince 01/2016 · owns 10% to 25%
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 |
|---|---|---|---|---|---|
| Troy, Ny · principal | 3 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
4 against comparable advisers; where to look, not conclusions
- very high RAUM per advisorStatic outlier · filing Mar 9, 2026RAUM per registered advisor of $313,577,663 against a peer median of $106,287,903 (1262 comparable advisers, 100.0th percentile, 3.6 robust deviations)peers: independent wealth managers, $500M to $1B (1,262) · 100% percentile
- unusually high clients per advisorStatic outlier · filing Mar 9, 2026private clients per advisor of 587.7 against a peer median of 63.5 (1211 comparable advisers, 100.0th percentile, 14.2 robust deviations)peers: independent wealth managers, $500M to $1B (1,211) · 100% percentile
- control person changedChange between filings · filing Mar 9, 2026F••••• D•••••• P•••••• (PRESIDENT, CHIEF COMPLIANCE OFFICER, AND PORTFOLIO MANAGER) left Schedule A between the filings of 2022-03-27 and 2026-03-09peers: independent wealth managers, $500M to $1B (1,482)
- custody status changedChange between filings · filing Mar 9, 2026custody of client assets (Item 9.A): no on the filing of 2025-07-07, yes on the filing of 2026-03-09peers: independent wealth managers, $500M to $1B (1,482)
What changed
consecutive filings, newest first
- Accounts · 2,950 to 3,144Jul 7, 2025 to Mar 9, 2026
- Advisory employees · 2 to 3Jul 7, 2025 to Mar 9, 2026
- Advisory activities · 2 to 3Jul 7, 2025 to Mar 9, 2026
- Charity clients · 23 to 28Jul 7, 2025 to Mar 9, 2026
- HNW clients · 204 to 245Jul 7, 2025 to Mar 9, 2026
- Individual clients · 1,514 to 1,518Jul 7, 2025 to Mar 9, 2026
- Pension plan clients · 8 to 9Jul 7, 2025 to Mar 9, 2026
- Assets in custody · $0 to $2.9MJul 7, 2025 to Mar 9, 2026
- Custody of client assets · false to trueJul 7, 2025 to Mar 9, 2026
- Employees · 6 to 7Jul 7, 2025 to Mar 9, 2026
- Financial planning clients · 26-50 to 51-100Jul 7, 2025 to Mar 9, 2026
- State-registered IARs · 2 to 3Jul 7, 2025 to Mar 9, 2026
- Discretionary RAUM · $802M to $923MJul 7, 2025 to Mar 9, 2026
- HNW RAUM · $412M to $538MJul 7, 2025 to Mar 9, 2026
- Individual RAUM · $359M to $369MJul 7, 2025 to Mar 9, 2026
- Non-discretionary RAUM · $0 to $18.0MJul 7, 2025 to Mar 9, 2026
- Pension RAUM · $15.0M to $13.1MJul 7, 2025 to Mar 9, 2026
- RAUM · $802M to $941MJul 7, 2025 to Mar 9, 2026
- Financial planning clients · 26-50 to 26-50May 14, 2025 to Jul 7, 2025
- Accounts · 1,610 to 2,950Jul 24, 2024 to Mar 24, 2025
- Charity clients · 22 to 23Jul 24, 2024 to Mar 24, 2025
- HNW clients · 139 to 204Jul 24, 2024 to Mar 24, 2025
- Individual clients · 1,441 to 1,514Jul 24, 2024 to Mar 24, 2025
- Employees · 5 to 6Jul 24, 2024 to Mar 24, 2025
- Financial planning clients · 51-100 to 26-50Jul 24, 2024 to Mar 24, 2025
- Discretionary RAUM · $677M to $802MJul 24, 2024 to Mar 24, 2025
- HNW RAUM · $292M to $412MJul 24, 2024 to Mar 24, 2025
- Individual RAUM · $361M to $359MJul 24, 2024 to Mar 24, 2025
- Pension RAUM · $9.5M to $15.0MJul 24, 2024 to Mar 24, 2025
- RAUM · $677M to $802MJul 24, 2024 to Mar 24, 2025
- Accounts · 1,703 to 1,610Mar 23, 2023 to Feb 29, 2024
- Charity clients · 20 to 22Mar 23, 2023 to Feb 29, 2024
- HNW clients · 108 to 139Mar 23, 2023 to Feb 29, 2024
- Individual clients · 1,574 to 1,441Mar 23, 2023 to Feb 29, 2024
- Pension plan clients · unset to 8.0Mar 23, 2023 to Feb 29, 2024
- Financial planning clients · 26-50 to 51-100Mar 23, 2023 to Feb 29, 2024
- Discretionary RAUM · $581M to $677MMar 23, 2023 to Feb 29, 2024
- HNW RAUM · $216M to $292MMar 23, 2023 to Feb 29, 2024
- Individual RAUM · $352M to $361MMar 23, 2023 to Feb 29, 2024
- Non-discretionary RAUM · $2.3M to $0Mar 23, 2023 to Feb 29, 2024
Signals
1 dated events
- P••••••• M•••• W••••• left F•••• A••••••••• I•• for L•• F•••••••• L•• (registered 2023-03-31)Oct 10, 2022 · Advisor changed firm · 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 phone
- 518-279-1044reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- faganasset.comreportedpublic record, Form ADV, Sep 19, 2026
- Principal office phone
- (518) 279-1044reportedpublic record, Form ADV, Mar 9, 2026
- Contact form
- faganasset.com/contactreportedpublished by the firm, firm site, Sep 16, 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
- $314Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026