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
A••••••• R••••••• I••
Latest filing Mar 20, 2026
First filing on the tape Dec 9, 2011 · 34 filings
SEC status approved since Nov 7, 1978
RAUM
$991M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
38%
$373M individuals and HNW
Advisors
7
registered through the firm on IAPD
RAUM per advisor
$142M
derived; firm RAUM over IAPD count
Employees
14
8 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
2
reported on Schedule D
History
34 filings and snapshots on the tape
RAUM$991M as of Mar 20, 2026
Mar 29, 2012$8.6B then
HNW client RAUM$272M as of Mar 20, 2026
Mar 29, 2018$1.0B then
State-registered IARs (5.B.3)7 as of Mar 20, 2026
Apr 1, 20134 then
Employees (5.A)14 as of Mar 20, 2026
Apr 1, 201364 then
Private funds2 as of Mar 20, 2026
Mar 29, 201213 then
RAUM +37% over the last fiscal year-9.4% a year over threeIARs 6 to 7
Practice profile
derived from the filing of Mar 20, 2026; every figure names its basis
- RAUM per advisor
- $142MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 58derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.1MderivedHNW RAUM over HNW clients
- Average account
- $2.2MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 13%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.0derivedItem 5.A over advisors
- Advisors per office
- 7.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +37%derivedbetween the last two annual amendments
- Advisor growth, one year
- +17%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +60%derived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, portfolio management for investment companiesreportedItem 5.G
- Wrap fee program
- participatesreportedItem 5.I
- Custody
- $7,831, 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)
- 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)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$272M27%
- Pooled investment vehicles$261M26%
- Corporations and businesses$203M21%
- Charitable organizations$128M13%
- Individuals$101M10%
- Investment companies$24.2M2.4%
- Pension and profit-sharing plans$1.7M0.2%
- Individual clients
- 275reported
- HNW clients
- 130reported
- Pension plan clients
- 3reported
- Charitable clients
- 14reported
- Accounts
- 444reported
- Financial planning clients
- reported
- Wrap fee programs
- $0 sponsored, $326M managedreported
- Custody of client assets
- $7,831 for 1 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.38 fund_share=0.29 institutional_share=0.13 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
7 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| M•••••• J•••• V••••••••• | Chicago, Il | Apr 17, 2017 | 23 y | 1 |
| B•••• M•••••• Z•••••Chartered Financial Analyst | Chicago, Il | Aug 11, 2020 | 22 y | 1 |
| A••• D• S••••••••Chartered Financial Analyst | Chicago, Il | Oct 21, 2020 | 20 y | 1 |
| C••••••••• R••••• H•••••Chartered Financial Analyst | Chicago, Il | Nov 2, 2020 | 25 y | 0 |
| M•••••• K••• S••••Chartered Financial Analyst | Chicago, Il | Nov 2, 2020 | 21 y | 0 |
| C••••••••• D•••• C•••••••Chartered Financial Analyst | Chicago, Il | Mar 22, 2024 | 28 y | 2 |
| W•••••• L•••• F••••••Chartered Financial Analyst | Chicago, Il | Apr 27, 2025 | 19 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
- C••••••••• A••• D•••• to N••••• A•••• M••••••••• L••Nov 10, 2022 · RIA to RIA
- P••• D••••• G••••• to I• F•••••••• A••••••• S••••••• L••Dec 11, 2019 · RIA to affiliated broker-dealer or bank
- S•••••• E•••• E•••• to S••••••••• A•••• I••••••••• L••Oct 16, 2018 · Other
- C••••••• D••••• to S•••••• C•••••• L••Mar 8, 2018 · Other
- C••••••••• D•••• C••••••• to A••••• C•••••• M••••••••• L••Mar 6, 2018 · Other
Joined, latest
- C••••••••• D•••• C••••••• from A••••• C•••••• M••••••••• L••Mar 22, 2024 · RIA to RIA
- C••••••••• A••• D•••• from A•••••• G••••• I•••••••• U••• L••Nov 18, 2020 · Other
- A••• D• S•••••••• from C••••• S••••• S••••••••• •••• L••Oct 21, 2020 · Other
- B•••• M•••••• Z••••• from M••••• S•••••• D• I•••Aug 11, 2020 · Other
- S•••••• E•••• E•••• from M•••••• L•••• I••••••••• M••••••• L•Apr 17, 2017 · Other
- M•••••• J•••• V••••••••• from C••••• S••••• S••••••••• •••• L••Apr 17, 2017 · Other
- C••••••• D••••• from C•••• C•••••• M••••••••• L••Nov 1, 2016 · Other
- P••• D••••• G••••• from C•••••• E•••••••• M•••• P••••••••• L••May 20, 2016 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from C••••• S••••• S••••••••• •••• L••Nov 15, 2016 · Chicago, Il
Private funds
22 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| A•• 1••• F•••• L•••no longer reported | Hedge Fund | $237M | 2 | Mar 30, 2016 |
| A••••••• R••••••• P••••••• F•••• L••• | Hedge Fund | $214M | 64 | Mar 29, 2019 |
| A••••••• R••••••• V•••• I••••• F•••• L•••no longer reported | Hedge Fund | $89.1M | 70 | Mar 29, 2012 |
| A••••••• R••••••• E••••• F•••• L•••no longer reported | Hedge Fund | $61.6M | 9 | Mar 29, 2012 |
| A••••••• O••••••••• F••• L•••no longer reported | Hedge Fund | $14.1M | 40 | Sep 4, 2012 |
| A••••••• R••••••• V•••• I••••• F••• I•• L•••no longer reported | Hedge Fund | $12.6M | 17 | Mar 29, 2012 |
| A••••••• R••••••• V••••• F•••no longer reported | Hedge Fund | $8.8M | 10 | Mar 28, 2012 |
| E••••••• F•••no longer reported | Hedge Fund | $5.6M | 10 | Mar 28, 2012 |
| A••••••• R••••••• S•••• C•• G••••• F•••no longer reported | Other Private Fund | $4.2M | 15 | Mar 28, 2012 |
| A••••••• R••••••• S•••• C•• V•••• O••••••••• F•••• L•••no longer reported | Hedge Fund | $1.2M | 4 | Mar 29, 2012 |
| A•• F••••••• F•••• L• | Hedge Fund | $7,831 | 16 | Mar 31, 2022 |
| A••••••• R••••••• N••••• S•••••• C•••••••• F••• L•no longer reported | Hedge Fund | $0 | 0 | Mar 30, 2017 |
| A••••••• R••••••• S•••••••• C•• V•••• E••••• F••• L•••no longer reported | Hedge Fund | $0 | 0 | Mar 29, 2012 |
| A••••••• R••••••• A•• C•• V•••• F•••• L•••no longer reported | Hedge Fund | $0 | 0 | Mar 29, 2012 |
| T•• S•• 5•• I•••• E•••••• W••••••• F•••• L•••no longer reported | Hedge Fund | $0 | 0 | Mar 29, 2012 |
| A••••••• R••••••• G••••• S•••• C•• F•••• L•••no longer reported | Hedge Fund | $0 | 0 | Mar 29, 2012 |
| A••••••• R••••••• S•••• C•• V•••• F•••• L•••no longer reported | Hedge Fund | $0 | 0 | Mar 29, 2012 |
| A••••••• R••••••• M•••• C•• V•••• F•••• L•••no longer reported | Hedge Fund | $0 | 0 | Mar 29, 2012 |
| A••••••• R••••••• S•••• C•• V•••• F••• I•• L•••no longer reported | Hedge Fund | $0 | 0 | Mar 29, 2012 |
| A••••••• R••••••• M•• C•• G••••• F••• L••no longer reported | Other Private Fund | $0 | 0 | Mar 28, 2012 |
| A••••••• R••••••• S•••••••• C•• V•••• E••••• F••• I•• L•••no longer reported | Hedge Fund | $0 | 0 | Mar 29, 2012 |
| A••••••• R••••••• I••••••••• V•••• F•••• L•••no longer reported | Hedge Fund | $0 | 0 | Mar 29, 2012 |
Owners and control persons
Schedule A and B, latest filing
- S••••• M••••••• K••• · Chairman, Chief Executive Officer, And Directorcontrolsince 09/2019 · owns less than 5%
- Z•••••• B••••• M•••••• · Chief Compliance Officer, Corporate Secretary And Managing Directorcontrolsince 10/2019 · owns less than 5%
- S••••• M••••••• K••• · Shareholdercontrolsince 10/2019 · owns 25% to 50% of O•••••• I•••
Entity owners
- O••••• H•••••• I••• · Ownerdirect · owns 75% or more
- O•••••• I••• · Ownerdirect · owns 75% or more
Related persons
Schedule D 7.A
- A•• P••••••• G• L••pooled vehicle sponsory
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Chicago, Il · principal | 7 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- account count surgeChange between filings · filing Mar 20, 2026accounts (Item 5.F.2.f) moved from 293.0 to 444.0 (+52.0%) between the annual amendments of 2025-03-18 and 2026-03-20; the peer median change was +6.0% (1256 comparable advisers, 94.0th percentile of changes)peers: independent wealth managers, $500M to $1B (1,256) · 94% percentile
- client count surgeChange between filings · filing Mar 20, 2026individual and HNW clients (Item 5.D) moved from 253.0 to 405.0 (+60.0%) between the annual amendments of 2025-03-18 and 2026-03-20; the peer median change was +5.0% (1216 comparable advisers, 97.0th percentile of changes)peers: independent wealth managers, $500M to $1B (1,216) · 97% percentile
What changed
consecutive filings, newest first
- Accounts · 293 to 444Nov 18, 2025 to Mar 20, 2026
- Advisory employees · 9 to 8Nov 18, 2025 to Mar 20, 2026
- Charity clients · 12 to 14Nov 18, 2025 to Mar 20, 2026
- Corporate clients · 22 to 18Nov 18, 2025 to Mar 20, 2026
- HNW clients · 77 to 130Nov 18, 2025 to Mar 20, 2026
- Individual clients · 176 to 275Nov 18, 2025 to Mar 20, 2026
- Pooled vehicle clients · 2 to 3Nov 18, 2025 to Mar 20, 2026
- Assets in custody · $922,752 to $7,831Nov 18, 2025 to Mar 20, 2026
- State-registered IARs · 6 to 7Nov 18, 2025 to Mar 20, 2026
- Discretionary RAUM · $719M to $989MNov 18, 2025 to Mar 20, 2026
- HNW RAUM · $164M to $272MNov 18, 2025 to Mar 20, 2026
- Individual RAUM · $70.6M to $101MNov 18, 2025 to Mar 20, 2026
- Non-discretionary RAUM · $2.7M to $2.6MNov 18, 2025 to Mar 20, 2026
- Pension RAUM · $616,285 to $1.7MNov 18, 2025 to Mar 20, 2026
- Pooled vehicle RAUM · $148M to $261MNov 18, 2025 to Mar 20, 2026
- RAUM · $722M to $991MNov 18, 2025 to Mar 20, 2026
- Wrap assets (manager) · $216M to $326MNov 18, 2025 to Mar 20, 2026
- Accounts · 284 to 293Nov 15, 2024 to Mar 18, 2025
- Advisory employees · 8 to 9Nov 15, 2024 to Mar 18, 2025
- HNW clients · 69 to 77Nov 15, 2024 to Mar 18, 2025
- Individual clients · 175 to 176Nov 15, 2024 to Mar 18, 2025
- Assets in custody · $902,195 to $922,752Nov 15, 2024 to Mar 18, 2025
- Financial planning clients · unset to Nov 15, 2024 to Mar 18, 2025
- State-registered IARs · 5 to 6Nov 15, 2024 to Mar 18, 2025
- Discretionary RAUM · $642M to $719MNov 15, 2024 to Mar 18, 2025
- HNW RAUM · $151M to $164MNov 15, 2024 to Mar 18, 2025
- Individual RAUM · $72.5M to $70.6MNov 15, 2024 to Mar 18, 2025
- Non-discretionary RAUM · $0 to $2.7MNov 15, 2024 to Mar 18, 2025
- Pension RAUM · $4.0M to $616,285Nov 15, 2024 to Mar 18, 2025
- Pooled vehicle RAUM · $96.6M to $148MNov 15, 2024 to Mar 18, 2025
- RAUM · $642M to $722MNov 15, 2024 to Mar 18, 2025
- Wrap assets (manager) · $204M to $216MNov 15, 2024 to Mar 18, 2025
- Accounts · 289 to 284Dec 18, 2023 to Mar 26, 2024
- Advisory employees · 13 to 8Dec 18, 2023 to Mar 26, 2024
- BD registered reps · 1 to 0Dec 18, 2023 to Mar 26, 2024
- Charity clients · 15 to 12Dec 18, 2023 to Mar 26, 2024
- Corporate clients · 27 to 22Dec 18, 2023 to Mar 26, 2024
- HNW clients · 74 to 69Dec 18, 2023 to Mar 26, 2024
- Individual clients · 153 to 175Dec 18, 2023 to Mar 26, 2024
- Pension plan clients · 10 to 3Dec 18, 2023 to Mar 26, 2024
Signals
18 dated events
- A••••••• R••••••• I•• reported RAUM $991.3M, up 37% from $721.5M (2025-11-18 to 2026-03-20)Mar 20, 2026 · RAUM change · derived
- A••••••• R••••••• I•• reported RAUM $641.6M, down 52% from $1.3B (2023-12-18 to 2024-03-26)Mar 26, 2024 · RAUM change · derived
- Margaret Croal Megan Dunn (Chief Compliance Officer) no longer on Schedule A of A••••••• R••••••• I•• (listed 2023-12-18, absent 2024-03-26)Mar 26, 2024 · Control person left · inference
- Gina Baeg (Chief Financial Officer And Director) no longer on Schedule A of A••••••• R••••••• I•• (listed 2023-03-31, absent 2023-12-18)Dec 18, 2023 · Control person left · inference
- C••••••••• A••• D•••• left A••••••• R••••••• I•• for N••••• A•••• M••••••••• L•• (registered 2024-10-16)Nov 10, 2022 · Advisor changed firm · fact
- Gina Baeg (Chief Financial Officer And Director) appeared on Schedule A of A••••••• R••••••• I••Mar 31, 2022 · Control person joined · fact
- A••••••• R••••••• I•• reported RAUM $1.5B, down 44% from $2.7B (2020-11-25 to 2021-03-31)Mar 31, 2021 · RAUM change · derived
- Drinan Ellen Freeman (Chief Operating Officer, And Director) no longer on Schedule A of A••••••• R••••••• I•• (listed 2020-11-25, absent 2021-03-31)Mar 31, 2021 · Control person left · inference
- Margaret Megan Croal (Chief Compliance Officer) appeared on Schedule A of A••••••• R••••••• I••Sep 29, 2020 · Control person joined · fact
- Keller Kenton Pettit (Chief Compliance Officer) no longer on Schedule A of A••••••• R••••••• I•• (listed 2020-06-29, absent 2020-09-29)Sep 29, 2020 · Control person left · inference
- Drinan Ellen Freeman (Chief Operating Officer And Director) appeared on Schedule A of A••••••• R••••••• I••Oct 23, 2019 · Control person joined · fact
- Keller Kenton Pettit (Chief Compliance Officer) appeared on Schedule A of A••••••• R••••••• I••Oct 23, 2019 · Control person joined · fact
- A••••••• R••••••• I•• reported RAUM $2.5B, down 59% from $6.1B (2019-03-29 to 2019-10-23)Oct 23, 2019 · RAUM change · derived
- Marie Laura Moret (Chief Legal Officer) no longer on Schedule A of A••••••• R••••••• I•• (listed 2019-03-29, absent 2019-10-23)Oct 23, 2019 · Control person left · inference
- Joseph James Cunnane (Director And Chief Investment Officer Of Mlp Investment Team) no longer on Schedule A of A••••••• R••••••• I•• (listed 2019-03-29, absent 2019-10-23)Oct 23, 2019 · Control person left · inference
- Lynn Debbra Schoneman (Director) no longer on Schedule A of A••••••• R••••••• I•• (listed 2019-03-29, absent 2019-10-23)Oct 23, 2019 · Control person left · inference
- Lynn Susan Steiner (Chief Compliance Officer) no longer on Schedule A of A••••••• R••••••• I•• (listed 2019-10-23, absent 2019-10-23)Oct 23, 2019 · Control person left · inference
- Michael Bruce Zessar (Director) appeared on Schedule A of A••••••• R••••••• I••Oct 23, 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.
How to reach
public business contact points only, each with its source
- Business email
- requestinfo@advisoryresearch.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 312-565-1414reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/advisory-researchreportedpublic record, Form ADV, Sep 18, 2026
- Website
- H•••••••••reportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 312-565-1414reportedpublic record, Form ADV, Mar 20, 2026
- Team page
- advisoryresearch.com/strategies/partnersreportedpublished 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
- Wealth manager with institutional or fund businessderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $142Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026