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••••• I••••••••• A•••••••••
Legal name F••••• I••••••••• A••••••••• L•••
Latest filing Apr 2, 2026
First filing on the tape Mar 30, 2012 · 29 filings
SEC status approved since Jun 20, 1986
RAUM
$5.2B
reported, Item 5.F
Discretionary
5.3%
of RAUM
Private clients
2.9%
$152M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
55
13 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
5
reported on Schedule D
History
29 filings and snapshots on the tape
RAUM$5.2B as of Apr 2, 2026
Mar 30, 2012$3.5B then
HNW client RAUM$152M as of Apr 2, 2026
Mar 29, 2018$676M then
State-registered IARs (5.B.3)0 as of Apr 2, 2026
Mar 30, 20120 then
Employees (5.A)55 as of Apr 2, 2026
Mar 26, 201348 then
Private funds5 as of Apr 2, 2026
Mar 30, 20124 then
RAUM +0.1% over the last fiscal year+4.1% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Apr 2, 2026; every figure names its basis
Archetypes, each a printed rule
- Institutional asset manager · institutional share (pensions, government, insurance, corporations, charities, banks, other advisers) at least 60 percent and private-client share under 20 percent
- RAUM per advisor
- unknownderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $262MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 5.3%derivedof RAUM
- Institutional
- 72%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +0.1%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, fixed fees, performance-based, otherreportedItem 5.E
- Advisory activities
- portfolio management for businesses and institutions, portfolio management for pooled vehicles, otherreportedItem 5.G
- Custody
- $1.3B, 20 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
- 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
- State and municipal entities$2.2B43%
- Pension and profit-sharing plans$1.5B30%
- Pooled investment vehicles$1.3B25%
- High-net-worth individuals$152M2.9%
- Individual clients
- 0reported
- HNW clients
- n/areported
- Pension plan clients
- 5reported
- Charitable clients
- 0reported
- Accounts
- 20reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $1.3B for 20 clientsreported
- Compensation
- % of AUM, fixed, performancereported
- Class basis
- private_client_share=0.03 fund_share=0.24 institutional_share=0.72 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
Joined, latest
none on the tape
Private funds
7 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| F•• T••••• G••••• P•••••••• L• | Real Estate Fund | $389M | 5 | Mar 30, 2012 |
| B••••••• T••••• 2•••• L•• | Real Estate Fund | $305M | 0 | Mar 28, 2024 |
| F•• T••••• G••••• A•• V•••• P•••••••• L••• | Real Estate Fund | $229M | 10 | Mar 30, 2016 |
| F•• T••••• G••••• A•• V•••• P••••••• A• L••• | Real Estate Fund | $225M | 2 | 2•••-03-30 |
| F•• T••••• P••••••• I•• L• | Real Estate Fund | $163M | 9 | Mar 30, 2012 |
| F•• T••••• P•••••••• L•••no longer reported | Real Estate Fund | $4.9M | 85 | Mar 30, 2012 |
| F•• T••••• P••••••• S•••••• S•••••••• F•••• L•••no longer reported | Real Estate Fund | $1.2M | 24 | Mar 30, 2012 |
Owners and control persons
Schedule A and B, latest filing
- A•••••• D••••• L• · Vp, Director Of Client Accountingcontrolsince 01/2021 · owns less than 5%
- B•••••••• A•••••• L• · Vp, Director Of Real Estate Transactionscontrolsince 01/2019 · owns less than 5%
- B•••••• M•••••••• H••••• · Managing Director, Head Of Business Development And Sustainabilitycontrolsince 04/2021 · owns less than 5%
- C••••••••• M••••••• P• · Vp, Director Of International Investments & Operationscontrolsince 02/2014 · owns less than 5%
- P••••••• C••••••••• D••• · Vp, Director Of Corporate Finance And Hrcontrolsince 02/2005 · owns less than 5%
- W•••••• M•••• A• · Presidentcontrolsince 02/2016 · owns less than 5%
- M••••••••• M••••••• D•••• · Chief Compliance Officersince 11/2023 · owns less than 5%
Entity owners
- F••••• I••••••••• A••••••••• L•• · General Partnerdirect · owns 50% to 75%
- F•• G•• L•• · General Partnerindirect · owns 25% to 50% of F•• H•••••••• L•
- F•• H•••••••• L• · Class A Memberindirect · owns 75% or more of F••••• I••••••••• A••••••••• L••
- F••••• I••••••••• A••••••••• I••• · Sole Memberindirect · owns 75% or more of F•• G•• L••
- F••••• I••••••••• A••••••••• I••• · Class A Memberindirect · owns 50% to 75% of F•• H•••••••• L•
- I••••••••• I••••• P••••••••• · Limited Partnerdirect · owns 10% to 25%
Related persons
Schedule D 7.A
- F•• G••••• M••••••••• L••pooled vehicle sponsory
- F•• T••••• G••••• A•• V•••• M••••••••• L••pooled vehicle sponsory
- F•• T••••• M••••••••• I•• L••pooled vehicle sponsory
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- discretionary share shiftChange between filings · filing Apr 2, 2026discretionary share of RAUM moved from 95.0% to 5.0% between the annual amendments of 2025-03-25 and 2026-04-02peers: institutional managers, $5B to $20B (71)
What changed
consecutive filings, newest first
- Employees · 60 to 55Mar 25, 2025 to Mar 28, 2026
- Accounts · 23 to 20Mar 25, 2025 to Mar 28, 2026
- HNW clients · 5.0 to unsetMar 25, 2025 to Mar 28, 2026
- Assets in custody · $1.3B to $1.3BMar 25, 2025 to Mar 28, 2026
- Discretionary RAUM · $5.0B to $277MMar 25, 2025 to Mar 28, 2026
- HNW RAUM · $163M to $152MMar 25, 2025 to Mar 28, 2026
- Non-discretionary RAUM · $261M to $5.0BMar 25, 2025 to Mar 28, 2026
- Pension RAUM · $1.2B to $1.5BMar 25, 2025 to Mar 28, 2026
- Pooled vehicle RAUM · $1.3B to $1.3BMar 25, 2025 to Mar 28, 2026
- RAUM · $5.2B to $5.2BMar 25, 2025 to Mar 28, 2026
- Accounts · 24 to 23May 22, 2024 to Mar 25, 2025
- Advisory employees · 11 to 13May 22, 2024 to Mar 25, 2025
- Pension plan clients · 6 to 5May 22, 2024 to Mar 25, 2025
- Assets in custody · $1.4B to $1.3BMay 22, 2024 to Mar 25, 2025
- Employees · 56 to 60May 22, 2024 to Mar 25, 2025
- Financial planning clients · unset to May 22, 2024 to Mar 25, 2025
- Discretionary RAUM · $4.8B to $5.0BMay 22, 2024 to Mar 25, 2025
- HNW RAUM · $181M to $163MMay 22, 2024 to Mar 25, 2025
- Non-discretionary RAUM · $245M to $261MMay 22, 2024 to Mar 25, 2025
- Pension RAUM · $1.1B to $1.2BMay 22, 2024 to Mar 25, 2025
- Pooled vehicle RAUM · $1.3B to $1.3BMay 22, 2024 to Mar 25, 2025
- RAUM · $5.0B to $5.2BMay 22, 2024 to Mar 25, 2025
- Accounts · 23 to 24Nov 17, 2023 to Mar 28, 2024
- Pension plan clients · 5 to 6Nov 17, 2023 to Mar 28, 2024
- Pooled vehicle clients · 4 to 5Nov 17, 2023 to Mar 28, 2024
- Assets in custody · $952M to $1.4BNov 17, 2023 to Mar 28, 2024
- Employees · 54 to 56Nov 17, 2023 to Mar 28, 2024
- Organization form · Partnership to Limited PartnershipNov 17, 2023 to Mar 28, 2024
- Private funds · 4 to 5Nov 17, 2023 to Mar 28, 2024
- Discretionary RAUM · $4.3B to $4.8BNov 17, 2023 to Mar 28, 2024
- HNW RAUM · $215M to $181MNov 17, 2023 to Mar 28, 2024
- Non-discretionary RAUM · $308M to $245MNov 17, 2023 to Mar 28, 2024
- Pension RAUM · $1.1B to $1.1BNov 17, 2023 to Mar 28, 2024
- Pooled vehicle RAUM · $901M to $1.3BNov 17, 2023 to Mar 28, 2024
- RAUM · $4.6B to $5.0BNov 17, 2023 to Mar 28, 2024
- Advisory employees · 12 to 11Mar 29, 2022 to Mar 29, 2023
- HNW clients · 6 to 5Mar 29, 2022 to Mar 29, 2023
- Pension plan clients · unset to 5.0Mar 29, 2022 to Mar 29, 2023
- Assets in custody · $916M to $952MMar 29, 2022 to Mar 29, 2023
- Employees · 52 to 54Mar 29, 2022 to Mar 29, 2023
Signals
9 dated events
- Hanlon Marykate Bullen (Managing Director, Head Of Business Development And Sustainability) appeared on Schedule A of F••••• I••••••••• A•••••••••Mar 28, 2024 · Control person joined · fact
- Michael Leo Kelly (Chairman Of The Board) no longer on Schedule A of F••••• I••••••••• A••••••••• (listed 2023-11-17, absent 2024-03-28)Mar 28, 2024 · Control person left · inference
- L. Charles Vanover (Vp, Director Of Corporate Development) no longer on Schedule A of F••••• I••••••••• A••••••••• (listed 2023-11-17, absent 2024-03-28)Mar 28, 2024 · Control person left · inference
- Scott Victor Bond (Vp, Director Of Client Relations And Business Development) no longer on Schedule A of F••••• I••••••••• A••••••••• (listed 2023-11-17, absent 2024-03-28)Mar 28, 2024 · Control person left · inference
- R. Samuel Grice (Vp, Director Of Client Accounting) no longer on Schedule A of F••••• I••••••••• A••••••••• (listed 2021-05-07, absent 2022-03-29)Mar 29, 2022 · Control person left · inference
- L. Michael Clutter (Vp, Director Of U.S. Investments & Operations) no longer on Schedule A of F••••• I••••••••• A••••••••• (listed 2021-05-07, absent 2022-03-29)Mar 29, 2022 · Control person left · inference
- L D•••• A••••• (Vp, Director Of Client Accounting) appeared on Schedule A of F••••• I••••••••• A•••••••••Mar 29, 2022 · Control person joined · fact
- L. Andrew Boutwell (Vp, Director Of Real Estate Transactions) appeared on Schedule A of F••••• I••••••••• A•••••••••Mar 27, 2019 · Control person joined · fact
- A Matthew Whitley (Fia Executive Committee Member, President - Agvictus Capital Management, Llc (Relying Adviser)) no longer on Schedule A of F••••• I••••••••• A••••••••• (listed 2018-04-19, absent 2019-02-06)Feb 6, 2019 · 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
- Firm profile
- linkedin.com/company/forest-investment-associatesreportedpublic record, Form ADV, Sep 18, 2026
- Website
- H•••••••••reportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 404-829-8842reportedpublic record, Form ADV, Apr 2, 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
- Institutional managerderiveda 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
Across the graphs
F••••• I••••••••• A••••••••• is the same institution as 1 record in Real Estate Funds.
Real Estate Funds1
Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.
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