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
Heritage Investors Management Corp
Latest filing Aug 27, 2026
First filing on the tape Mar 30, 2012 · 30 filings
SEC status approved since Feb 26, 1975
RAUM
$4.6B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
87%
$4.0B individuals and HNW
Advisors
9
registered through the firm on IAPD
RAUM per advisor
$515M
derived; firm RAUM over IAPD count
Employees
22
8 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
30 filings and snapshots on the tape
RAUM$4.6B as of Aug 27, 2026
Mar 30, 2012$1.3B then
HNW client RAUM$4.0B as of Aug 27, 2026
Jan 8, 2018$2.0B then
State-registered IARs (5.B.3)8 as of Aug 27, 2026
Mar 30, 20120 then
Employees (5.A)22 as of Aug 27, 2026
Mar 28, 20139 then
Private funds: no history
RAUM +11% over the last fiscal year+14% a year over threeIARs 8 to 8
Practice profile
derived from the filing of Aug 27, 2026; every figure names its basis
Archetypes, each a printed rule
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- RAUM per advisor
- $515MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 76derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $6.8MderivedHNW RAUM over HNW clients
- Average account
- $3.2MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 9.3%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.4derivedItem 5.A over advisors
- Advisors per office
- 9.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +11%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -0.4%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 5.G
- Custody
- $4.6B, 762 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)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$4.0B85%
- Charitable organizations$316M6.8%
- Corporations and businesses$184M4.0%
- Pension and profit-sharing plans$113M2.4%
- Individuals$63.1M1.4%
- Individual clients
- 97reported
- HNW clients
- 585reported
- Pension plan clients
- 13reported
- Charitable clients
- 33reported
- Accounts
- 1,465reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- $4.6B for 762 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.87 fund_share=0.0 institutional_share=0.09 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
9 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Michael Stewart CornfeldChartered Financial Analyst, Chartered Investment Counselor | Bethesda, Md | Oct 19, 1990 | 51 y | 0 |
| Derek Robert StoneChartered Financial Analyst | Bethesda, Md | Oct 19, 1990 | 44 y | 0 |
| Kenneth James LongChartered Financial Analyst, Chartered Investment Counselor | Bethesda, Md | Jan 25, 1996 | 31 y | 0 |
| Andrew Marc SchenkerChartered Financial Analyst | Bethesda, Md | Jan 30, 2017 | 18 y | 1 |
| Brian Michael CurtinChartered Financial Analyst | Bethesda, Md | Mar 28, 2018 | 10 y | 0 |
| Laura L Mcaree | Bethesda, Md | Nov 2, 2020 | 19 y | 4 |
| Scott B WilsonChartered Financial Analyst | Bethesda, Md | Sep 4, 2024 | 20 y | 1 |
| Craig L LukinChartered Financial Analyst | Bethesda, Md | Jan 21, 2025 | 23 y | 1 |
| Taylor Jason FucciChartered Financial Analyst | Bethesda, Md | Aug 28, 2026 | 10 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 headcount1 left over 36 months
Left, latest
- Christopher Geddy Hill to Folger Nolan Fleming Douglas IncorporatedMar 21, 2025 · RIA to RIA
Joined, latest
- Craig L Lukin from Roumell Asset Management, LLCJan 21, 2025 · Other
- Scott B Wilson from Harbour Capital Advisors, LLCSep 4, 2024 · RIA to RIA
- Christopher Geddy Hill from Cherry Bekaert Wealth Management LLCMar 24, 2022 · RIA to RIA
- Laura L Mcaree from United Capital Financial AdvisorsNov 2, 2020 · Affiliated broker-dealer or bank to independent RIA
- Andrew Marc Schenker from Morgan Stanley & Co. LLCJan 30, 2017 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Stewart Michael Cornfeld · Trustee Of Sarah Cornfeld 2012 Trust, Jennifer Schenker 2012 Trust, Melissa Lynn Cornfeld 2012 Trustcontrolsince 12/2012 · owns less than 5%
- Lynn Janet Cornfeld · Trustee Of Cornfeld Family 2012 Trustsince 12/2012 · owns less than 5%
- Geddy Christopher Hill · Chief Compliance Officersince 03/2022 · owns less than 5%
- James Kenneth Long · Executive Vice Presidentsince 03/2021 · owns less than 5%
- L Craig Lukin · Chief Compliance Officersince 08/2025 · owns less than 5%
- Marci Beth Rosen · Chief Operating Officersince 02/2024 · owns less than 5%
- Marc Andrew Schenker · Chief Investment Officersince 03/2021 · owns less than 5%
- Robert Derek Stone · Senior Vice Presidentsince 03/2021 · owns less than 5%
Entity owners
- Cornfeld Family 2012 Trust · Shareholderdirect · owns 5% to 10%
- Jennifer Schenker 2012 · Shareholderdirect · owns 5% to 10%
- Jennifer Schenker 2012 Trust · Shareholderdirect · owns 5% to 10%
- Melissa Lynn Cornfeld 2012 Trust · Shareholderdirect · owns 5% to 10%
- Sarah Lynn Cornfeld 2012 · Shareholderdirect · owns 5% to 10%
- Sarah Lynn Cornfeld 2012 Trust · Shareholderdirect · owns 5% to 10%
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 |
|---|---|---|---|---|---|
| Bethesda, Md · principal | 9 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Aug 27, 2026CORNFELD, MICHAEL, STEWART (PRESIDENT) left Schedule A between the filings of 2024-03-25 and 2026-08-27peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Accounts · 1,426 to 1,465Jul 17, 2025 to Mar 30, 2026
- Charity clients · 32 to 33Jul 17, 2025 to Mar 30, 2026
- HNW clients · 574 to 585Jul 17, 2025 to Mar 30, 2026
- Individual clients · 111 to 97Jul 17, 2025 to Mar 30, 2026
- Pension plan clients · 12 to 13Jul 17, 2025 to Mar 30, 2026
- Assets in custody · $4.2B to $4.6BJul 17, 2025 to Mar 30, 2026
- Employees · 20 to 22Jul 17, 2025 to Mar 30, 2026
- Discretionary RAUM · $4.2B to $4.6BJul 17, 2025 to Mar 30, 2026
- HNW RAUM · $3.5B to $4.0BJul 17, 2025 to Mar 30, 2026
- Individual RAUM · $75.4M to $63.1MJul 17, 2025 to Mar 30, 2026
- Non-discretionary RAUM · $9.4M to $11.1MJul 17, 2025 to Mar 30, 2026
- Pension RAUM · $102M to $113MJul 17, 2025 to Mar 30, 2026
- RAUM · $4.2B to $4.6BJul 17, 2025 to Mar 30, 2026
- Financial planning clients · 51-100 to 51-100Mar 24, 2025 to Jul 17, 2025
- Accounts · 1,391 to 1,426Mar 25, 2024 to Mar 24, 2025
- Advisory employees · 7 to 8Mar 25, 2024 to Mar 24, 2025
- Charity clients · 31 to 32Mar 25, 2024 to Mar 24, 2025
- Corporate clients · 33 to 34Mar 25, 2024 to Mar 24, 2025
- HNW clients · 566 to 574Mar 25, 2024 to Mar 24, 2025
- Individual clients · 118 to 111Mar 25, 2024 to Mar 24, 2025
- Pension plan clients · 13 to 12Mar 25, 2024 to Mar 24, 2025
- Assets in custody · $3.7B to $4.2BMar 25, 2024 to Mar 24, 2025
- Discretionary RAUM · $3.7B to $4.2BMar 25, 2024 to Mar 24, 2025
- HNW RAUM · $3.1B to $3.5BMar 25, 2024 to Mar 24, 2025
- Individual RAUM · $73.5M to $75.4MMar 25, 2024 to Mar 24, 2025
- Non-discretionary RAUM · $12.0M to $9.4MMar 25, 2024 to Mar 24, 2025
- Pension RAUM · $98.5M to $102MMar 25, 2024 to Mar 24, 2025
- RAUM · $3.7B to $4.2BMar 25, 2024 to Mar 24, 2025
- Accounts · 1,389 to 1,391Jul 10, 2023 to Mar 25, 2024
- Advisory employees · 6 to 7Jul 10, 2023 to Mar 25, 2024
- Charity clients · 29 to 31Jul 10, 2023 to Mar 25, 2024
- Corporate clients · 26 to 33Jul 10, 2023 to Mar 25, 2024
- HNW clients · 525 to 566Jul 10, 2023 to Mar 25, 2024
- Individual clients · 122 to 118Jul 10, 2023 to Mar 25, 2024
- Pension plan clients · 16 to 13Jul 10, 2023 to Mar 25, 2024
- Assets in custody · $3.1B to $3.7BJul 10, 2023 to Mar 25, 2024
- Employees · 16 to 20Jul 10, 2023 to Mar 25, 2024
- State-registered IARs · 6 to 8Jul 10, 2023 to Mar 25, 2024
- Discretionary RAUM · $3.1B to $3.7BJul 10, 2023 to Mar 25, 2024
- HNW RAUM · $2.6B to $3.1BJul 10, 2023 to Mar 25, 2024
Signals
1 dated events
- Christopher Geddy Hill left Heritage Investors Management Corp for Folger Nolan Fleming Douglas Incorporated (registered 2025-06-13)Mar 21, 2025 · 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.
How to reach
public business contact points only, each with its source
- Business phone
- 301-951-0440reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/heritage-investors-managementreportedpublic record, Form ADV, Sep 17, 2026
- Website
- heritageinvestors.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 301-951-0440reportedpublic record, Form ADV, Aug 27, 2026
- Contact form
- heritageinvestors.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- heritageinvestors.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
- $515Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026