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.
SEC-registered adviser
The L. Warner Companies, Inc
Latest filing Aug 5, 2026
First filing on the tape Dec 2, 2011 · 28 filings
SEC status approved since Sep 25, 1999
RAUM
$802M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
93%
$745M individuals and HNW
Advisors
9
registered through the firm on IAPD
RAUM per advisor
$89.2M
derived; firm RAUM over IAPD count
Employees
38
9 advisory (5.B.1)
Offices
3
beyond the principal office
Private funds
0
reported on Schedule D
History
28 filings and snapshots on the tape
RAUM$802M as of Aug 5, 2026
Mar 21, 2012$231M then
HNW client RAUM$678M as of Aug 5, 2026
Mar 30, 2018$407M then
State-registered IARs (5.B.3)9 as of Aug 5, 2026
Feb 20, 201310 then
Employees (5.A)38 as of Aug 5, 2026
Feb 20, 201355 then
Private funds: no history
RAUM +7.8% over the last fiscal year+9.8% a year over threeIARs 12 to 9
Practice profile
derived from the filing of Aug 5, 2026; every figure names its basis
- RAUM per advisor
- $89.2MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 39derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.8MderivedHNW RAUM over HNW clients
- Average account
- $2.1MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 5.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 4.2derivedItem 5.A over advisors
- Advisors per office
- 2.3derived4 offices incl. principal (1.F.5)
- RAUM growth, one year
- +7.8%derivedbetween the last two annual amendments
- Advisor growth, one year
- -25%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -1.4%derived
- Compensation
- percentage of assets, fixed fees, commissionsreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisers, otherreportedItem 5.G
- Custody
- $16.7M, 11 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
- is an insurance broker or agent (6.A.6)
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$678M85%
- Individuals$67.1M8.4%
- Pension and profit-sharing plans$27.6M3.4%
- Charitable organizations$15.3M1.9%
- Corporations and businesses$14.2M1.8%
- Individual clients
- 172reported
- HNW clients
- 180reported
- Pension plan clients
- 100reported
- Charitable clients
- 5reported
- Accounts
- 381reported
- Financial planning clients
- 101-250reported
- Wrap fee programs
- noreported
- Custody of client assets
- $16.7M for 11 clientsreported
- Compensation
- % of AUM, fixed, commissionsreported
- Class basis
- private_client_share=0.93 fund_share=0.0 institutional_share=0.05 related_bd=false related_bank=false bd_reps=14.0derived
Advisors registered through the firm
9 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Edwin Scott KillingerCertified Financial Planner, Chartered Financial Analyst | Timonium, Md | Mar 26, 2004 | 32 y | 0 |
| Thomas Joseph Gramigna | Timonium, Md | Mar 26, 2004 | 33 y | 0 |
| Ilene Salcman | Timonium, Md | Mar 26, 2004 | 28 y | 0 |
| Timothy Joseph Truss | Timonium, Md | May 8, 2009 | 21 y | 2 |
| Michael Thomas Anderson | Beverly Hills, Ca | Jan 24, 2022 | 35 y | 5 |
| Ala Smochinsky | Beverly Hills, Ca | Jan 24, 2022 | 20 y | 1 |
| Edward A Dixon | Duxbury, Ma | Jul 17, 2024 | 23 y | 1 |
| Raymond PenziCertified Financial Planner, Chartered Financial Consultant | Huntington, Ny | Nov 26, 2024 | 15 y | 0 |
| Richard Dean SpiveyChartered Financial Consultant | Timonium, Md | Jan 12, 2026 | 21 y | 2 |
Advisor movement
1 left, 1 joined in 12 months
net 0 in 12 months1 left in 90 days0 joined in 90 daysdeparture rate 11% of current headcount2 left over 36 months
Left, latest
- Derek John Elphick to Castfirm Advisors LLCAug 20, 2026 · RIA to RIA
- Joseph Michael Plume to Oliver Wealth ManagementApr 22, 2024 · RIA to RIA
- William Judson Sokol to Sfg Wealth ManagementMay 27, 2021 · RIA to RIA
- Genevieve M Crisera to Kestra Advisory Services, LLCMar 11, 2021 · RIA to affiliated broker-dealer or bank
- Brandon Luckett to Red Oak Financial GroupMar 1, 2018 · Other
- Peter Anthony Ladas to Sheridan Road Advisors, LLC, A Hub International CompanyJun 8, 2011 · Other
- Samrang Vattana Hai to Horan Capital Management,LLCMar 3, 2009 · Other
- John Felix Kurutz to Credit Suisse Securities (USA) LLCJun 23, 2006 · Other
- John E Searing to UBS Financial Services Inc.Oct 3, 2005 · Other
Joined, latest
- Richard Dean Spivey from United Brokerage Services IncJan 12, 2026 · Other
- Edward A Dixon from Dixon Associates, Inc.Jul 17, 2024 · Other
- Joseph Michael Plume from Merrill Lynch, Pierce, Fenner & Smith IncorporatedMar 24, 2022 · Wirehouse to independent RIA
- Michael Thomas Anderson from Finestone PartnersJan 24, 2022 · Other
- Ala Smochinsky from Finestone PartnersJan 24, 2022 · Other
- Timothy Joseph Truss from Stanford Capital Management, LLCMay 8, 2009 · Other
- Samrang Vattana Hai from Legg Mason Wood Walker, IncorporatedApr 14, 2008 · Other
- John Felix Kurutz from Legg Mason Wood Walker, IncorporatedDec 6, 2005 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Finestone PartnersJun 6, 2022 · Beverly Hills, Ca
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Scott Edwin Killinger · Chief Compliance Officer/Chief Investment Officercontrolsince 09/1999 · owns less than 5%
- William Lee Warner · Chairman/Chief Executive Officercontrolsince 09/1999 · owns less than 5%
Entity owners
- Foundation Risk Partners, Corp. · Ownerdirect · owns 75% or more
- Frp Holdings, Corp. · Ownerindirect · owns 75% or more of Frp Parent, Corp.
- Frp Investors II, LP · Ownerindirect · owns 75% or more of Frp Parent II, Corp.
- Frp Parent II, Corp. · Ownerindirect · owns 75% or more of Frp Holdings, Corp.
- Frp Parent, Corp. · Ownerindirect · owns 75% or more of Foundation Risk Partners, Corp.
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 |
|---|---|---|---|---|---|
| Timonium, Md · principal | 9 | 1 | 1 | ||
| Beverly Hills, Ca | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Beverly Hills, CA2 employees
- Duxbury, MA1 employees
- Haddonfield, NJ1 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- high employee count relative to advisorsStatic outlier · filing Aug 5, 2026employees per registered advisor of 4.2 against a peer median of 1.4 (950 comparable advisers, 100.0th percentile, 7.1 robust deviations)peers: independent wealth managers, $500M to $1B (950) · 100% percentile
What changed
consecutive filings, newest first
- Accounts · 385 to 381Dec 4, 2025 to Mar 31, 2026
- Advisory employees · 12 to 9Dec 4, 2025 to Mar 31, 2026
- BD registered reps · 16 to 14Dec 4, 2025 to Mar 31, 2026
- Corporate clients · 2 to 3Dec 4, 2025 to Mar 31, 2026
- HNW clients · 185 to 180Dec 4, 2025 to Mar 31, 2026
- Pension plan clients · 78 to 100Dec 4, 2025 to Mar 31, 2026
- Assets in custody · $18.3M to $16.7MDec 4, 2025 to Mar 31, 2026
- Employees · 42 to 38Dec 4, 2025 to Mar 31, 2026
- State-registered IARs · 12 to 9Dec 4, 2025 to Mar 31, 2026
- Discretionary RAUM · $745M to $802MDec 4, 2025 to Mar 31, 2026
- HNW RAUM · $633M to $678MDec 4, 2025 to Mar 31, 2026
- Individual RAUM · $66.7M to $67.1MDec 4, 2025 to Mar 31, 2026
- Pension RAUM · $26.1M to $27.6MDec 4, 2025 to Mar 31, 2026
- RAUM · $745M to $802MDec 4, 2025 to Mar 31, 2026
- Accounts · 300 to 385May 8, 2024 to Mar 28, 2025
- Charity clients · 4 to 5May 8, 2024 to Mar 28, 2025
- Corporate clients · 3 to 2May 8, 2024 to Mar 28, 2025
- HNW clients · 84 to 185May 8, 2024 to Mar 28, 2025
- Individual clients · 195 to 172May 8, 2024 to Mar 28, 2025
- Pension plan clients · 14 to 78May 8, 2024 to Mar 28, 2025
- Pooled vehicle clients · 0.0 to unsetMay 8, 2024 to Mar 28, 2025
- Assets in custody · $19.1M to $18.3MMay 8, 2024 to Mar 28, 2025
- Employees · 43 to 42May 8, 2024 to Mar 28, 2025
- Financial planning clients · 101-250 to 101-250May 8, 2024 to Mar 28, 2025
- Discretionary RAUM · $657M to $745MMay 8, 2024 to Mar 28, 2025
- HNW RAUM · $401M to $633MMay 8, 2024 to Mar 28, 2025
- Individual RAUM · $216M to $66.7MMay 8, 2024 to Mar 28, 2025
- Pension RAUM · $22.1M to $26.1MMay 8, 2024 to Mar 28, 2025
- RAUM · $657M to $745MMay 8, 2024 to Mar 28, 2025
- Other offices · 2 to 3Mar 30, 2024 to May 8, 2024
- Accounts · 308 to 300Apr 3, 2023 to Mar 30, 2024
- BD registered reps · 18 to 16Apr 3, 2023 to Mar 30, 2024
- Corporate clients · 5 to 3Apr 3, 2023 to Mar 30, 2024
- HNW clients · 87 to 84Apr 3, 2023 to Mar 30, 2024
- Individual clients · 197 to 195Apr 3, 2023 to Mar 30, 2024
- Pension plan clients · 15 to 14Apr 3, 2023 to Mar 30, 2024
- Assets in custody · $31.4M to $19.1MApr 3, 2023 to Mar 30, 2024
- Discretionary RAUM · $606M to $657MApr 3, 2023 to Mar 30, 2024
- HNW RAUM · $361M to $401MApr 3, 2023 to Mar 30, 2024
- Individual RAUM · $194M to $216MApr 3, 2023 to Mar 30, 2024
Signals
5 dated events
- Derek John Elphick left The L. Warner Companies, Inc for Castfirm Advisors Llc (registered 2026-03-10)Aug 20, 2026 · Advisor changed firm · fact
- Joseph Michael Plume left The L. Warner Companies, Inc for Oliver Wealth Management (registered 2025-01-01)Apr 22, 2024 · Advisor changed firm · fact
- 2 advisors left Finestone Partners (Beverly Hills, CA) for The L. Warner Companies, Inc on the same dayJun 6, 2022 · Team lift-out · derived
- The L. Warner Companies, Inc reported RAUM $682.0M, up 27% from $538.8M (2021-03-31 to 2022-04-01)Apr 1, 2022 · RAUM change · derived
- Ilene Salcman (Vice President) no longer on Schedule A of The L. Warner Companies, Inc (listed 2019-03-27, absent 2020-03-30)Mar 30, 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
- Business phone
- 410-252-0808reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 410-510-1796reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- LWARNER.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 410-252-0808reportedpublic record, Form ADV, Aug 5, 2026
- Contact form
- lwarner.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- lwarner.com/teamreportedpublished by the firm, firm site, Sep 15, 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
- $89.2Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026