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

S•••• C•••••• M••••••••• I••

Former SEC-registered adviserWoburn, MassachusettsCRD 108622SEC 801-34265IAPD
Latest filing Mar 4, 2022
First filing on the tape Mar 14, 2012 · 17 filings
RAUM
$285M
reported, Item 5.F
Discretionary
98%
of RAUM
Private clients
94%
$268M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
5
2 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$285M as of Mar 4, 2022
Mar 14, 2012$343M then
HNW client RAUM$257M as of Mar 4, 2022
Feb 20, 2018$250M then
State-registered IARs (5.B.3)2 as of Mar 4, 2022
Mar 14, 20120 then
Employees (5.A)5 as of Mar 4, 2022
Mar 13, 20135 then
Private funds: no history
RAUM +9.8% over the last fiscal year-3.4% a year over threeIARs 2 to 2
Practice profile
derived from the filing of Mar 4, 2022; every figure names its basis
RAUM per advisor
$142MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
43derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$3.8MderivedHNW RAUM over HNW clients
Average account
$3.0MderivedRAUM over accounts (5.F.2.f)
Discretionary
98%derivedof RAUM
Institutional
5.9%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
2.5derivedItem 5.A over advisors
Advisors per office
2.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+9.8%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
-6.6%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$257M90%
  • Charitable organizations$12.1M4.2%
  • Individuals$11.3M4.0%
  • Pension and profit-sharing plans$4.8M1.7%
Individual clients
17reported
HNW clients
68reported
Pension plan clients
n/areported
Charitable clients
8reported
Accounts
94reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixedreported
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
Joined, latest
none on the tape
    Every departureEvery arrival
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • R••••••••• K•••••••• A•• · Chief Compliance Officer & Presidentcontrol
      since 10/2004 · owns 10% to 25%
    • R••••• H•• · Chairmancontrol
      since 08/1990 · owns 75% or more
    Related persons
    Schedule D 7.A
    No related person reported.
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Accounts · 100 to 94
      Mar 19, 2021 to Mar 4, 2022
    • Charity clients · 7 to 8
      Mar 19, 2021 to Mar 4, 2022
    • HNW clients · 69 to 68
      Mar 19, 2021 to Mar 4, 2022
    • Individual clients · 22 to 17
      Mar 19, 2021 to Mar 4, 2022
    • Discretionary RAUM · $256M to $281M
      Mar 19, 2021 to Mar 4, 2022
    • HNW RAUM · $225M to $257M
      Mar 19, 2021 to Mar 4, 2022
    • Individual RAUM · $11.9M to $11.3M
      Mar 19, 2021 to Mar 4, 2022
    • Non-discretionary RAUM · $3.9M to $4.4M
      Mar 19, 2021 to Mar 4, 2022
    • Pension RAUM · $4.0M to $4.8M
      Mar 19, 2021 to Mar 4, 2022
    • RAUM · $260M to $285M
      Mar 19, 2021 to Mar 4, 2022
    • Accounts · 105 to 100
      Jun 30, 2020 to Mar 19, 2021
    • Charity clients · 9 to 7
      Jun 30, 2020 to Mar 19, 2021
    • HNW clients · 74 to 69
      Jun 30, 2020 to Mar 19, 2021
    • Individual clients · 20 to 22
      Jun 30, 2020 to Mar 19, 2021
    • Discretionary RAUM · $291M to $256M
      Jun 30, 2020 to Mar 19, 2021
    • HNW RAUM · $248M to $225M
      Jun 30, 2020 to Mar 19, 2021
    • Individual RAUM · $11.6M to $11.9M
      Jun 30, 2020 to Mar 19, 2021
    • Non-discretionary RAUM · $22.3M to $3.9M
      Jun 30, 2020 to Mar 19, 2021
    • Pension RAUM · $3.6M to $4.0M
      Jun 30, 2020 to Mar 19, 2021
    • RAUM · $313M to $260M
      Jun 30, 2020 to Mar 19, 2021
    • Individual RAUM · $15.4M to $11.6M
      Mar 26, 2019 to Feb 26, 2020
    • Non-discretionary RAUM · $18.9M to $22.3M
      Mar 26, 2019 to Feb 26, 2020
    • Pension RAUM · $4.7M to $3.6M
      Mar 26, 2019 to Feb 26, 2020
    • RAUM · $316M to $313M
      Mar 26, 2019 to Feb 26, 2020
    • Accounts · 111 to 105
      Mar 26, 2019 to Feb 26, 2020
    • HNW clients · 71 to 74
      Mar 26, 2019 to Feb 26, 2020
    • Individual clients · 27 to 20
      Mar 26, 2019 to Feb 26, 2020
    • Discretionary RAUM · $297M to $291M
      Mar 26, 2019 to Feb 26, 2020
    • HNW RAUM · $223M to $248M
      Mar 26, 2019 to Feb 26, 2020
    • Accounts · 110 to 111
      Feb 20, 2018 to Mar 26, 2019
    • HNW clients · 69 to 71
      Feb 20, 2018 to Mar 26, 2019
    • Discretionary RAUM · $327M to $297M
      Feb 20, 2018 to Mar 26, 2019
    • HNW RAUM · $250M to $223M
      Feb 20, 2018 to Mar 26, 2019
    • Individual RAUM · $15.9M to $15.4M
      Feb 20, 2018 to Mar 26, 2019
    • Non-discretionary RAUM · $19.8M to $18.9M
      Feb 20, 2018 to Mar 26, 2019
    • Pension RAUM · $7.8M to $4.7M
      Feb 20, 2018 to Mar 26, 2019
    • RAUM · $347M to $316M
      Feb 20, 2018 to Mar 26, 2019
    • Charity clients · unset to 9.0
      Mar 13, 2017 to Feb 20, 2018
    • HNW clients · unset to 69.0
      Mar 13, 2017 to Feb 20, 2018
    • Individual clients · unset to 27.0
      Mar 13, 2017 to Feb 20, 2018
    Signals
    1 dated events
    • Kimberly Ann Ratcliffe left Salem Capital Management Inc for F L Putnam Investment Management Co. (registered 2022-11-28)
      Dec 22, 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.
    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