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

B•••• A•••••••

Wealth manager with institutional or fund businessBaltimore, MarylandCRD 110181SEC 801-38826websiteIAPD
Legal name B•••• A••••••• L••
Latest filing Mar 31, 2026
First filing on the tape Mar 16, 2012 · 46 filings
SEC status approved since Jun 7, 1991
RAUM
$124B
reported, Item 5.F
Discretionary
96%
of RAUM
Private clients
39%
$49B individuals and HNW
Advisors
25
registered through the firm on IAPD
RAUM per advisor
$5.0B
derived; firm RAUM over IAPD count
Employees
782
272 advisory (5.B.1)
Offices
13
beyond the principal office
Private funds
3
reported on Schedule D
History
46 filings and snapshots on the tape
RAUM$124B as of Mar 31, 2026
Mar 16, 2012$19B then
HNW client RAUM$49B as of Mar 31, 2026
Mar 28, 2018$16B then
State-registered IARs (5.B.3)22 as of Mar 31, 2026
Mar 16, 20120 then
Employees (5.A)782 as of Mar 31, 2026
Apr 1, 2013276 then
Private funds3 as of Mar 31, 2026
Mar 16, 201280 then
RAUM +2.0% over the last fiscal year+8.1% a year over threeIARs 23 to 22
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
Archetypes, each a printed rule
RAUM per advisor
$5.0BderivedRAUM over IAPD advisors; not a book size
Clients per advisor
129derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$19.6MderivedHNW RAUM over HNW clients
Average account
$4.7MderivedRAUM over accounts (5.F.2.f)
Discretionary
96%derivedof RAUM
Institutional
17%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
31.3derivedItem 5.A over advisors
Advisors per office
1.8derived14 offices incl. principal (1.F.5)
RAUM growth, one year
+2.0%derivedbetween the last two annual amendments
Advisor growth, one year
-4.3%derivedItem 5.B.3 between annual amendments
Client growth, one year
+4.5%derived
Compensation
percentage of assets, fixed fees, 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 companies, selection of other advisersreportedItem 5.G
Wrap fee program
participatesreportedItem 5.I
Custody
$66B, 3,461 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)
  • 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)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$49B39%
  • Investment companies$24B20%
  • Charitable organizations$16B13%
  • Pooled investment vehicles$16B13%
  • Corporations and businesses$8.5B6.8%
  • Other investment advisers$5.5B4.4%
  • State and municipal entities$2.7B2.2%
  • Pension and profit-sharing plans$2.5B2.0%
  • Individuals$241M0.2%
  • Insurance companies$145M0.1%
Individual clients
745reported
HNW clients
2,484reported
Pension plan clients
57reported
Charitable clients
683reported
Accounts
26,390reported
Financial planning clients
0reported
Wrap fee programs
$0 sponsored, $3.2B managedreported
Custody of client assets
$66B for 3,461 clientsreported
Compensation
% of AUM, fixed, performancereported
Class basis
private_client_share=0.39 fund_share=0.37 institutional_share=0.17 related_bd=false related_bank=true bd_reps=7.0derived
Advisors registered through the firm
25 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
G••• M••••• L•••••••••Bethesda, Md1•••-03-1629 y0
R•••••• G• M••••••Bethesda, MdJan 3, 200532 y0
J••• T••••••• B••••Bethesda, MdJan 3, 200536 y0
M•••••• L•••• F•••Chartered Financial AnalystBaltimore, MdMar 29, 201239 y1
R••••• H•••••••• V•••••Chartered Financial AnalystBaltimore, MdMar 29, 201239 y1
B•••• E••••• G•••••Chartered Financial AnalystBaltimore, MdMar 29, 201219 y1
J••• F•••••• C••••••••Baltimore, MdApr 9, 201220 y2
K•••••• M•••• S•••••Chartered Financial AnalystBaltimore, MdApr 9, 201225 y1
G••••••• R• B• C••••Chartered Financial AnalystBaltimore, MdApr 9, 201224 y1
J••• W••••••• K•••••••Chartered Financial AnalystBaltimore, MdApr 26, 201228 y1
T•••••• W••••• H•••••••Chartered Financial AnalystBaltimore, MdJun 7, 201232 y0
D•••• B•••• H•••••Chartered Financial AnalystBaltimore, MdJun 7, 201224 y0
D•••• P•••• N••••••Chartered Financial AnalystBaltimore, MdJun 7, 201225 y0
D•••• B•••• P•••••Chartered Financial AnalystBaltimore, MdJun 7, 201228 y0
P••• J••••• C•••Chartered Financial AnalystBaltimore, MdJun 7, 201231 y0
K••••• F•••Chartered Financial AnalystBaltimore, MdJun 7, 201217 y0
E•••• L••••• P••••Baltimore, MdOct 23, 201225 y1
E••••• X••••• T•••Baltimore, MdFeb 20, 201434 y0
J••••• O•••••Baltimore, Md Oct 8, 201542 y2
I•• P•••••• M••••••Chartered Financial AnalystBaltimore, Md Sep 9, 201617 y2
E•••••• C•••••••• K••••••Austin, Tx Sep 9, 201612 y1
J•• K••••••••• J•••••Certified Financial PlannerBaltimore, Md Sep 15, 201625 y5
B•••••• K•••• N••••Chartered Financial AnalystNew York, Ny May 31, 201725 y1
C••••••••• C• H•••••••Certified Financial PlannerBaltimore, Md Jun 20, 201712 y1
C•••• K•••••Austin, TxJun 11, 201910 y1
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 headcount4 left over 36 months
Left, latest
Joined, latest
Teams: two or more advisors moving together within fourteen days, from one state
    Private funds
    18 reported on Schedule D 7.B.(1)
    FundTypeGross assetsOwnersFirst reported
    B•••• A••••••• G••••• F•••• M••••• F••• L•••Other Private Fund$617M2Mar 30, 2021
    B•••• A••••••• G••••• F•••• O••••••• F••• L••Other Private Fund$350M48Mar 30, 2021
    B•••• A••••••• G••••• F•••• O•••••• F••• L•Other Private Fund$270M45Mar 30, 2021
    B•••• A••••••• F••••••••• L••••••••• L••no longer reportedH•••• Fund$104M151Mar 16, 2012
    B••••••••• D••••• C•••••• P•••••••• L•no longer reportedOther Private Fund$65.7M151Mar 16, 2012
    B•••• A••••••• G••••• S••••• L•••no longer reportedH•••• Fund$16.8M69Mar 16, 2012
    W•••••• H•••• F•••• L•••no longer reportedH•••• Fund$11.9M24Mar 16, 2012
    B•••• A••••••• G••••• F•••• F•••• L•••no longer reportedH•••• Fund$11.7M12Mar 28, 2018
    B•••• A••••••• E••••••• M•••••• L•••no longer reportedH•••• Fund$9.1M38Mar 16, 2012
    B•••• A••••••• L•••• A••••••• F•••• L•••no longer reportedH•••• Fund$2.4M11Mar 30, 2020
    B•••• A••••••• I•••••••• 2••••••••• P•••• L•••no longer reportedPrivate Equity Fund$12,76230Mar 16, 2012
    B•••• A••••••• I•••••••• 2••••••••• P•••••••• L•••no longer reportedPrivate Equity Fund$11,06129Mar 16, 2012
    B•••• S•••••• I•••••••• I•• L••no longer reportedOther Private Fund$04Apr 1, 2013
    B•••• A••••••• I•••••••• 2•••••••• E••••• I• L•••no longer reportedPrivate Equity Fund$07Mar 16, 2012
    B•••• A••••••• I•••••••• S•••••• L••no longer reportedOther Private Fund$04Apr 1, 2013
    B•• S••••••••• I••••••••• L•••no longer reportedPrivate Equity Fund$048Mar 16, 2012
    B•••• V•••••• I•••••••• L• • S••••• 1••• • A••no longer reportedPrivate Equity Fund$024Mar 16, 2012
    B•••• A••••••• I•••••••• 2•••••••• I• L•••no longer reportedPrivate Equity Fund$024Mar 16, 2012
    Owners and control persons
    Schedule A and B, latest filing
    • C••••••• J••••• P••••••• · Deputy General Counsel & Chief Compliance Officercontrol
      since 03/2023 · owns less than 5%
    • F••••••••• V••••• · Chief Compliance Officercontrol
      since 05/2025 · owns less than 5%
    • H•••••• M••••••• D•••• · Co-President & Co- Ceocontrol
      since 02/2025 · owns less than 5%
    • P•••••• S••••••• M•••• · Chief Financial Officer Ceocontrol
      since 05/2024 · owns less than 5%
    • R•••••• B••••• D•••• · General Counselcontrol
      since 04/2010 · owns less than 5%
    • W••••• W••••••• O••••• · Chief Operating Officercontrol
      since 06/2023 · owns less than 5%
    Entity owners
    • B•••• A••••••• M••••••••• L•• · Holding Company And Managing Memeber
      direct · owns 75% or more
    • B•••• A••••••• G•••• H••••••• L•• · Holding Company
      indirect · owns 25% to 50% of B•••• A••••••• M••••••••• L••
    • B•••• A••••••• I••••••••• · Unit Holder And Managing Member
      indirect · owns F of B•••• A••••••• M••••••••• L••
    Related persons
    Schedule D 7.A
    Advisers that list B•••• A••••••• as a related person
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Baltimore, Md · principal2100
    Austin, Tx300
    Bethesda, Md300
    Offices
    Schedule D 1.F, the 25 largest
    • Washington, Dc, DC39 employees
    • B•••••, MA37 employees
    • New York, NY26 employees
    • Austin, TX17 employees
    • Centreville, DE8 employees
    • Nashville, TN4 employees
    • Chapel Hill, NC4 employees
    • Richmond, VA3 employees
    • San F••••••Co, CA3 employees
    • Charlottesville, VA2 employees
    • Norfolk, VA2 employees
    • Charlotte, NC2 employees
    • , 1 employees
    ADV anomalies
    4 against comparable advisers; where to look, not conclusions
    • high employee count relative to advisorsStatic outlier · filing Mar 31, 2026
      employees per registered advisor of 31.3 against a peer median of 2.4 (67 comparable advisers, 100.0th percentile, 22.1 robust deviations)
      peers: independent wealth managers, $20B and over (67) · 100% percentile
    • control person changedChange between filings · filing Mar 31, 2026
      F••••••••• V••••• (CHIEF COMPLIANCE OFFICER) appeared on Schedule A between the filings of 2024-05-17 and 2026-03-31
      peers: independent wealth managers, $20B and over (84)
    • control person changedChange between filings · filing Mar 31, 2026
      C••••••• J••••• P••••••• (DEPUTY GENERAL COUNSEL & CHIEF COMPLIANCE OFFICER) left Schedule A between the filings of 2024-05-17 and 2026-03-31
      peers: independent wealth managers, $20B and over (84)
    • discretionary share shiftChange between filings · filing Mar 31, 2026
      discretionary share of RAUM moved from 3.0% to 96.0% between the annual amendments of 2025-03-27 and 2026-03-31
      peers: independent wealth managers, $20B and over (84)
    What changed
    consecutive filings, newest first
    • Accounts · 24,921 to 26,390
      Jun 11, 2025 to Mar 31, 2026
    • Advisory employees · 269 to 272
      Jun 11, 2025 to Mar 31, 2026
    • BD registered reps · 0 to 7
      Jun 11, 2025 to Mar 31, 2026
    • Charity clients · 645 to 683
      Jun 11, 2025 to Mar 31, 2026
    • Corporate clients · 172 to 363
      Jun 11, 2025 to Mar 31, 2026
    • HNW clients · 2,357 to 2,484
      Jun 11, 2025 to Mar 31, 2026
    • Individual clients · 734 to 745
      Jun 11, 2025 to Mar 31, 2026
    • Pension plan clients · 68 to 57
      Jun 11, 2025 to Mar 31, 2026
    • Assets in custody · $57B to $66B
      Jun 11, 2025 to Mar 31, 2026
    • Employees · 733 to 782
      Jun 11, 2025 to Mar 31, 2026
    • State-registered IARs · 23 to 22
      Jun 11, 2025 to Mar 31, 2026
    • Discretionary RAUM · $118B to $119B
      Jun 11, 2025 to Mar 31, 2026
    • HNW RAUM · $44B to $49B
      Jun 11, 2025 to Mar 31, 2026
    • Individual RAUM · $243M to $241M
      Jun 11, 2025 to Mar 31, 2026
    • Non-discretionary RAUM · $3.9B to $5.1B
      Jun 11, 2025 to Mar 31, 2026
    • Pension RAUM · $3.3B to $2.5B
      Jun 11, 2025 to Mar 31, 2026
    • Pooled vehicle RAUM · $16B to $16B
      Jun 11, 2025 to Mar 31, 2026
    • RAUM · $122B to $124B
      Jun 11, 2025 to Mar 31, 2026
    • Wrap assets (manager) · $4.0B to $3.2B
      Jun 11, 2025 to Mar 31, 2026
    • Financial planning clients · 0 to 0
      May 29, 2025 to Jun 11, 2025
    • Discretionary RAUM · $3.9B to $118B
      May 29, 2025 to Jun 11, 2025
    • Non-discretionary RAUM · $118B to $3.9B
      May 29, 2025 to Jun 11, 2025
    • Accounts · 23,317 to 24,921
      Feb 27, 2025 to Mar 27, 2025
    • Advisory employees · 267 to 269
      Feb 27, 2025 to Mar 27, 2025
    • Charity clients · 625 to 645
      Feb 27, 2025 to Mar 27, 2025
    • Corporate clients · 170 to 172
      Feb 27, 2025 to Mar 27, 2025
    • HNW clients · 2,131 to 2,357
      Feb 27, 2025 to Mar 27, 2025
    • Individual clients · 900 to 734
      Feb 27, 2025 to Mar 27, 2025
    • Pension plan clients · 72 to 68
      Feb 27, 2025 to Mar 27, 2025
    • Assets in custody · $46B to $57B
      Feb 27, 2025 to Mar 27, 2025
    • Employees · 657 to 733
      Feb 27, 2025 to Mar 27, 2025
    • State-registered IARs · 26 to 23
      Feb 27, 2025 to Mar 27, 2025
    • Other offices · 14 to 13
      Feb 27, 2025 to Mar 27, 2025
    • Discretionary RAUM · $97B to $3.9B
      Feb 27, 2025 to Mar 27, 2025
    • HNW RAUM · $37B to $44B
      Feb 27, 2025 to Mar 27, 2025
    • Individual RAUM · $296M to $243M
      Feb 27, 2025 to Mar 27, 2025
    • Non-discretionary RAUM · $12B to $118B
      Feb 27, 2025 to Mar 27, 2025
    • Pension RAUM · $3.1B to $3.3B
      Feb 27, 2025 to Mar 27, 2025
    • Pooled vehicle RAUM · $13B to $16B
      Feb 27, 2025 to Mar 27, 2025
    • RAUM · $108B to $122B
      Feb 27, 2025 to Mar 27, 2025
    Signals
    17 dated events
    • J•••••• J•••• K•••• left B•••• A••••••• for J••• M••••• S••••••••• L•• (registered 2024-09-11)
      Jan 21, 2025 · Advisor changed firm · fact
    • E••• G•••• C•••• left B•••• A••••••• for O•••••••• C••••••• L•• (registered 2024-05-15)
      Jan 8, 2025 · Advisor changed firm · fact
    • M•••• P• S••••••••• left B•••• A••••••• for C••••••• (registered 2025-01-02)
      Jan 2, 2025 · Advisor changed firm · fact
    • M•••••• D•••• C•••••••• (Chief Financial Officer) no l•••er on Schedule A of B•••• A••••••• (listed 2024-03-28, absent 2024-05-17)
      May 17, 2024 · Control person left · inference
    • M•••• S•••••• P••••• (Chief Financial Officer) appeared on Schedule A of B•••• A•••••••
      May 17, 2024 · Control person joined · fact
    • T••••• M••••• B•••• left B•••• A••••••• for J••• M••••• S••••••••• L•• (registered 2024-09-18)
      Jan 6, 2024 · Advisor changed firm · fact
    • O••••• W•••••• W•••• (Chief Operating Officer) appeared on Schedule A of B•••• A•••••••
      Jul 28, 2023 · Control person joined · fact
    • P••••••• J•••• C•••••• (Deputy General Counsel & Chief Compliance Officer) appeared on Schedule A of B•••• A•••••••
      Mar 30, 2023 · Control person joined · fact
    • B•••• A••••••• reported 29 state-registered advisory representatives, down from 47 (2022-04-13 to 2023-03-30)
      Mar 30, 2023 · Advisor headcount change · derived
    • J••••••• L•• L••• left B•••• A••••••• for O•••••••• C••••••• L•• (registered 2024-05-15)
      Dec 16, 2022 · Advisor changed firm · fact
    • J••• G• S••••• left B•••• A••••••• for S•• W••••• (registered 2022-11-01)
      Dec 1, 2022 · Advisor changed firm · fact
    • T••••• D•••••• D•••• G•••• left B•••• A••••••• for F•••• (registered 2022-09-28)
      Oct 5, 2022 · Advisor changed firm · fact
    • B•••• A••••••• reported RAUM $120.6B, up 37% from $87.9B (2021-12-09 to 2022-03-29)
      Mar 29, 2022 · RAUM change · derived
    • B•••• A••••••• reported RAUM $87.9B, up 37% from $64.0B (2020-12-18 to 2021-03-30)
      Mar 30, 2021 · RAUM change · derived
    • B•••• A••••••• reported 46 state-registered advisory representatives, up from 31 (2020-12-18 to 2021-03-30)
      Mar 30, 2021 · Advisor headcount change · derived
    • B•••• A••••••• reported 31 state-registered advisory representatives, down from 48 (2020-01-28 to 2020-03-30)
      Mar 30, 2020 · Advisor headcount change · derived
    • B•••• A••••••• reported RAUM $64.0B, up 35% from $47.6B (2020-01-28 to 2020-03-30)
      Mar 30, 2020 · RAUM change · derived
    Across DFX
    shared identifiers only, never a name match
    How to reach
    public business contact points only, each with its source
    Business phone
    212-871-8550reportedpublished by the firm, firm site, Sep 17, 2026
    Business phone
    214-278-6095reportedpublished by the firm, firm site, Sep 17, 2026
    Business phone
    240-200-3300reportedpublished by the firm, firm site, Sep 17, 2026
    Firm profile
    linkedin.com/company/nextgen-venture-partnersreportedpublic record, Form ADV, Sep 18, 2026
    Firm profile
    linkedin.com/company/brown-advisoryreportedpublic record, Form ADV, Sep 18, 2026
    Website
    brownadvisory.comreportedpublic record, Form ADV, Sep 18, 2026
    Principal office phone
    410-537-5400reportedpublic record, Form ADV, Mar 31, 2026
    Contact form
    brownadvisory.com/contact-usreportedpublished by the firm, firm site, Sep 17, 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
    $5.0Bderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026
    Across the graphs

    B•••• 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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