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

M••••••••• C•••••• L••

Former SEC-registered adviserChicago, IllinoisCRD 107997SEC 801-54732IAPD
Latest filing Jan 13, 2022
First filing on the tape Mar 14, 2012 · 17 filings
RAUM
$4.0B
reported, Item 5.F
Discretionary
96%
of RAUM
Private clients
70%
$2.8B individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
17
9 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
17 filings and snapshots on the tape
RAUM$4.0B as of Dec 8, 2021
Mar 14, 2012$1.5B then
HNW client RAUM$2.8B as of Dec 8, 2021
Dec 15, 2017$1.6B then
State-registered IARs (5.B.3)2 as of Dec 8, 2021
Mar 14, 20120 then
Employees (5.A)17 as of Dec 8, 2021
Mar 12, 201314 then
Private funds: no history
RAUM +25% over the last fiscal year+13% a year over threeIARs 3 to 2offices 1 to 0
Practice profile
derived from the filing of Jan 13, 2022; every figure names its basis
RAUM per advisor
$2.0BderivedRAUM over IAPD advisors; not a book size
Clients per advisor
156derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$10.0MderivedHNW RAUM over HNW clients
Average account
$3.0MderivedRAUM over accounts (5.F.2.f)
Discretionary
96%derivedof RAUM
Institutional
28%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
8.5derivedItem 5.A over advisors
Advisors per office
2.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+25%derivedbetween the last two annual amendments
Advisor growth, one year
-33%derivedItem 5.B.3 between annual amendments
Client growth, one year
-0.6%derived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
Custody
$352M, 45 clientsreportedItem 9.A
Ownership
a bank, bancorp or trust company is a 50 percent or greater ownerderived
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)
  • a related person acts as qualified custodian (9.D.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$2.8B70%
  • Pension and profit-sharing plans$922M23%
  • Charitable organizations$192M4.9%
  • Corporations and businesses$53.5M1.4%
  • Individuals$20.0M0.5%
Individual clients
36reported
HNW clients
275reported
Pension plan clients
4reported
Charitable clients
12reported
Accounts
1,317reported
Financial planning clients
11-25reported
Wrap fee programs
noreported
Custody of client assets
$352M for 45 clientsreported
Compensation
% of AUMreported
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
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • B•••••••• L•••••••• J•• · Co-Chief Executive Officer, Directorcontrol
      since 05/2006 · owns less than 5%
    • B•••••• E••••• M•••• · Co-Chief Executive Officer, Directorcontrol
      since 05/2006 · owns less than 5%
    • F••••••••• G••••••• P••• · Directorcontrol
      since 11/2017 · owns less than 5%
    • L•••••• S••••• E••••• · Executive Vice President, Chief Compliance Officercontrol
      since 02/2004 · owns less than 5%
    • M••••• J•••• D• · Chairman & Directorcontrol
      since 05/2006 · owns less than 5%
    • N•••••••• M••••••• J••••• · Directorcontrol
      since 04/2019 · owns less than 5%
    • A•••••••• R••••• A• · Executive Vice President, Director
      since 05/2006 · owns less than 5%
    Entity owners
    • C••••••••• C•••••• M••••••••• L•• · Interest Holder
      direct · owns 75% or more
    • R•• U• G•••• H••••••• L•• · Owner
      indirect · owns 75% or more of R•• U•• H••••• C•••••••••
    • R•• U•• H••••• C••••••••• · Owner
      indirect · owns 75% or more of C••••••••• C•••••• M••••••••• L••
    • R•••• B••• O• C••••• · Ultimate Owner
      indirect · owns 75% or more of R•• U• G•••• H••••••• L•• · public reporting company
    Related persons
    Schedule D 7.A
    Advisers that list M••••••••• C•••••• L•• as a related person
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Other offices · 1 to 0
      Dec 8, 2021 to Jan 13, 2022
    • Accounts · 1,268 to 1,317
      Dec 23, 2020 to Dec 8, 2021
    • Advisory employees · 10 to 9
      Dec 23, 2020 to Dec 8, 2021
    • HNW clients · 269 to 275
      Dec 23, 2020 to Dec 8, 2021
    • Individual clients · 44 to 36
      Dec 23, 2020 to Dec 8, 2021
    • Assets in custody · $280M to $352M
      Dec 23, 2020 to Dec 8, 2021
    • Employees · 19 to 17
      Dec 23, 2020 to Dec 8, 2021
    • State-registered IARs · 3 to 2
      Dec 23, 2020 to Dec 8, 2021
    • Discretionary RAUM · $3.1B to $3.8B
      Dec 23, 2020 to Dec 8, 2021
    • HNW RAUM · $2.2B to $2.8B
      Dec 23, 2020 to Dec 8, 2021
    • Individual RAUM · $26.0M to $20.0M
      Dec 23, 2020 to Dec 8, 2021
    • Non-discretionary RAUM · $125M to $152M
      Dec 23, 2020 to Dec 8, 2021
    • Pension RAUM · $747M to $922M
      Dec 23, 2020 to Dec 8, 2021
    • RAUM · $3.2B to $4.0B
      Dec 23, 2020 to Dec 8, 2021
    • Accounts · 1,230 to 1,268
      Jun 26, 2020 to Dec 23, 2020
    • Advisory employees · 11 to 10
      Jun 26, 2020 to Dec 23, 2020
    • HNW clients · 256 to 269
      Jun 26, 2020 to Dec 23, 2020
    • Individual clients · 46 to 44
      Jun 26, 2020 to Dec 23, 2020
    • Pension plan clients · 3 to 4
      Jun 26, 2020 to Dec 23, 2020
    • Assets in custody · $255M to $280M
      Jun 26, 2020 to Dec 23, 2020
    • Employees · 20 to 19
      Jun 26, 2020 to Dec 23, 2020
    • Financial planning clients · 1-10 to 11-25
      Jun 26, 2020 to Dec 23, 2020
    • Other offices · 0 to 1
      Jun 26, 2020 to Dec 23, 2020
    • Discretionary RAUM · $2.9B to $3.1B
      Jun 26, 2020 to Dec 23, 2020
    • HNW RAUM · $1.9B to $2.2B
      Jun 26, 2020 to Dec 23, 2020
    • Individual RAUM · $26.7M to $26.0M
      Jun 26, 2020 to Dec 23, 2020
    • Non-discretionary RAUM · $105M to $125M
      Jun 26, 2020 to Dec 23, 2020
    • Pension RAUM · $688M to $747M
      Jun 26, 2020 to Dec 23, 2020
    • RAUM · $3.1B to $3.2B
      Jun 26, 2020 to Dec 23, 2020
    • Accounts · 1,210 to 1,230
      Dec 17, 2018 to Dec 16, 2019
    • Advisory employees · 10 to 11
      Dec 17, 2018 to Dec 16, 2019
    • Advisory activities · 2 to 3
      Dec 17, 2018 to Dec 16, 2019
    • Charity clients · 13 to 12
      Dec 17, 2018 to Dec 16, 2019
    • HNW clients · 253 to 256
      Dec 17, 2018 to Dec 16, 2019
    • Individual clients · 53 to 46
      Dec 17, 2018 to Dec 16, 2019
    • Assets in custody · $233M to $255M
      Dec 17, 2018 to Dec 16, 2019
    • Employees · 18 to 20
      Dec 17, 2018 to Dec 16, 2019
    • Financial planning clients · unset to 1-10
      Dec 17, 2018 to Dec 16, 2019
    • Discretionary RAUM · $2.6B to $2.9B
      Dec 17, 2018 to Dec 16, 2019
    • HNW RAUM · $1.7B to $1.9B
      Dec 17, 2018 to Dec 16, 2019
    Signals
    6 dated events
    • R•••• A• A••••••• left M••••••••• C•••••• L•• for C•••••••• W••••• (registered 2022-04-03)
      Apr 1, 2022 · Advisor changed firm · fact
    • L••••••• J•• B••••••• left M••••••••• C•••••• L•• for C•••••••• W••••• (registered 2022-04-03)
      Apr 1, 2022 · Advisor changed firm · fact
    • 2 advisors left M••••••••• C•••••• L•• (Chicago, IL) for C•••••••• W••••• on the same day
      Apr 1, 2022 · Team lift-out · derived
    • M••••••••• C•••••• L•• reported RAUM $4.0B, up 25% from $3.2B (2020-12-23 to 2021-12-08)
      Dec 8, 2021 · RAUM change · derived
    • Jay William Freeman (Director) no longer on Schedule A of M••••••••• C•••••• L•• (listed 2018-12-17, absent 2019-12-16)
      Dec 16, 2019 · Control person left · inference
    • Joseph Michael Nunnelee (Director) appeared on Schedule A of M••••••••• C•••••• L••
      Dec 16, 2019 · Control person joined · 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