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
Nepc, LLC
Latest filing Jul 22, 2026
First filing on the tape Mar 26, 2012 · 47 filings
SEC status approved since Aug 23, 1990
RAUM
$153B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
2.2%
$3.3B individuals and HNW
Advisors
1
registered through the firm on IAPD
RAUM per advisor
$153B
derived; firm RAUM over IAPD count
Employees
379
132 advisory (5.B.1)
Offices
25
beyond the principal office
Private funds
4
reported on Schedule D
History
47 filings and snapshots on the tape
RAUM$153B as of Jul 22, 2026
Mar 26, 2012$660M then
HNW client RAUM$3.3B as of Jul 22, 2026
Mar 31, 2018$609M then
State-registered IARs (5.B.3)1 as of Jul 22, 2026
Mar 26, 20120 then
Employees (5.A)379 as of Jul 22, 2026
Mar 28, 2013198 then
Private funds4 as of Jul 22, 2026
Mar 31, 20222 then
RAUM +11% over the last fiscal year+34% a year over threeIARs 1 to 1
Practice profile
derived from the filing of Jul 22, 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
- OCIO / institutional advisory · selection of other advisers (5.G.7) and institutional share at least 50 percent
- Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
- Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
- RAUM per advisor
- $153BderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $95.4MderivedHNW RAUM over HNW clients
- Average account
- $1.2BderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 79%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 379.0derivedItem 5.A over advisors
- Advisors per office
- 0.0derived26 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
- unknownderived
- Compensation
- percentage of assets, hourly, fixed fees, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, pension consulting, selection of other advisers, educational seminarsreportedItem 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)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pension and profit-sharing plans$98B64%
- Corporations and businesses$23B15%
- Charitable organizations$15B9.7%
- State and municipal entities$8.5B5.6%
- Pooled investment vehicles$5.3B3.5%
- High-net-worth individuals$3.3B2.2%
- Banks and thrifts$163M0.1%
- Individual clients
- n/areported
- HNW clients
- 35reported
- Pension plan clients
- 165reported
- Charitable clients
- 84reported
- Accounts
- 132reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourly, performancereported
- Class basis
- private_client_share=0.02 fund_share=0.03 institutional_share=0.79 related_bd=true related_bank=false bd_reps=0.0derived
Advisors registered through the firm
1 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Daniel D. HennessyChartered Financial Analyst | Redwood City, Ca | Jan 5, 2026 | 15 y | 1 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
none on the tape
Joined, latest
- Daniel D. Hennessy from Alan Biller And AssociatesJan 5, 2026 · Other
Private funds
4 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Nepc Global Equity Series | Other Private Fund | $2.6B | 34 | Mar 31, 2022 |
| Nepc Diversified Credit Series | Other Private Fund | $1.5B | 28 | Mar 28, 2024 |
| Nepc Emerging Markets Equity Series | Other Private Fund | $915M | 32 | Mar 31, 2022 |
| Nepc Small Cap Equity Series | Other Private Fund | $606M | 32 | Mar 28, 2024 |
Owners and control persons
Schedule A and B, latest filing
- M Samuel Austin · Partner And Member Of The Governance Boardcontrolsince 06/2020 · owns less than 5%
- Marie Karen Harding · Partner And Member Of The Governance Boardcontrolsince 06/2021 · owns less than 5%
- Lyn Kellie Kane · Chief Operating Officercontrolsince 06/2022 · owns less than 5%
- Patrick Michael Manning · Managing Partnercontrolsince 12/2007 · owns 5% to 10%
- F Timothy Mccusker · Chief Investment Officercontrolsince 06/2021 · owns less than 5%
- Russell Phillip Nelson · Partner And Member Of The Governance Boardcontrolsince 06/2022 · owns less than 5%
- F Scott Perry · Partner And Member Of The Governance Boardcontrolsince 06/2023 · owns less than 5%
- F John Regan · Chief Compliance Officersince 07/2023 · owns less than 5%
Related persons
Schedule D 7.A
No related person reported.
Offices
Schedule D 1.F, the 25 largest
- Chicago, IL10 employees
- San Francisco, CA7 employees
- Atlanta, GA6 employees
- Portland, OR6 employees
- Las Vegas, NV4 employees
- Charlotte, NC2 employees
What changed
consecutive filings, newest first
- Accounts · 122 to 132Apr 30, 2025 to Mar 27, 2026
- Advisory employees · 126 to 132Apr 30, 2025 to Mar 27, 2026
- Advisory activities · 5 to 6Apr 30, 2025 to Mar 27, 2026
- Charity clients · 86 to 84Apr 30, 2025 to Mar 27, 2026
- Corporate clients · 46 to 47Apr 30, 2025 to Mar 27, 2026
- HNW clients · 33 to 35Apr 30, 2025 to Mar 27, 2026
- Pension plan clients · 171 to 165Apr 30, 2025 to Mar 27, 2026
- Employees · 364 to 379Apr 30, 2025 to Mar 27, 2026
- Discretionary RAUM · $137B to $153BApr 30, 2025 to Mar 27, 2026
- HNW RAUM · $2.8B to $3.3BApr 30, 2025 to Mar 27, 2026
- Pension RAUM · $87B to $98BApr 30, 2025 to Mar 27, 2026
- Pooled vehicle RAUM · $5.0B to $5.3BApr 30, 2025 to Mar 27, 2026
- RAUM · $137B to $153BApr 30, 2025 to Mar 27, 2026
- Accounts · 110 to 122Feb 19, 2025 to Apr 30, 2025
- Advisory employees · 120 to 126Feb 19, 2025 to Apr 30, 2025
- Charity clients · 87 to 86Feb 19, 2025 to Apr 30, 2025
- Corporate clients · 44 to 46Feb 19, 2025 to Apr 30, 2025
- HNW clients · 40 to 33Feb 19, 2025 to Apr 30, 2025
- Pension plan clients · 157 to 171Feb 19, 2025 to Apr 30, 2025
- Employees · 358 to 364Feb 19, 2025 to Apr 30, 2025
- Financial planning clients · unset to Feb 19, 2025 to Apr 30, 2025
- Other offices · 6 to 25Feb 19, 2025 to Apr 30, 2025
- Discretionary RAUM · $95B to $137BFeb 19, 2025 to Apr 30, 2025
- HNW RAUM · $3.0B to $2.8BFeb 19, 2025 to Apr 30, 2025
- Pension RAUM · $54B to $87BFeb 19, 2025 to Apr 30, 2025
- Pooled vehicle RAUM · $5.6B to $5.0BFeb 19, 2025 to Apr 30, 2025
- RAUM · $95B to $137BFeb 19, 2025 to Apr 30, 2025
- Related adviser · false to trueOct 2, 2024 to Jan 30, 2025
- Related broker-dealer · false to trueOct 2, 2024 to Jan 30, 2025
- Related insurance company · false to trueOct 2, 2024 to Jan 30, 2025
- Accounts · 95 to 110Jul 27, 2023 to Mar 28, 2024
- Advisory employees · 123 to 120Jul 27, 2023 to Mar 28, 2024
- Charity clients · 81 to 87Jul 27, 2023 to Mar 28, 2024
- HNW clients · 42 to 40Jul 27, 2023 to Mar 28, 2024
- Pension plan clients · 152 to 157Jul 27, 2023 to Mar 28, 2024
- Pooled vehicle clients · 4 to 8Jul 27, 2023 to Mar 28, 2024
- Employees · 356 to 358Jul 27, 2023 to Mar 28, 2024
- Private funds · 2 to 4Jul 27, 2023 to Mar 28, 2024
- Discretionary RAUM · $64B to $95BJul 27, 2023 to Mar 28, 2024
- HNW RAUM · $2.5B to $3.0BJul 27, 2023 to Mar 28, 2024
Signals
18 dated events
- Nepc, Llc reported 25 offices beyond its principal office, up from 6 (2025-02-19 to 2025-04-30)Apr 30, 2025 · Office count change · derived
- Nepc, Llc reported RAUM $137.3B, up 44% from $95.4B (2025-02-19 to 2025-04-30)Apr 30, 2025 · RAUM change · derived
- Nepc, Llc reported RAUM $95.4B, up 50% from $63.6B (2023-07-27 to 2024-03-28)Mar 28, 2024 · RAUM change · derived
- Yates William Bogle (Chief Compliance Officer) no longer on Schedule A of Nepc, Llc (listed 2023-07-05, absent 2023-07-27)Jul 27, 2023 · Control person left · inference
- F Scott Perry (Partner And Member Of The Governance Board) appeared on Schedule A of Nepc, LlcJul 5, 2023 · Control person joined · fact
- Niranjan Neil Sheth (Partner And Member Of The Governance Board) no longer on Schedule A of Nepc, Llc (listed 2023-03-31, absent 2023-07-05)Jul 5, 2023 · Control person left · inference
- Russell Phillip Nelson (Partner And Member Of The Governance Board) appeared on Schedule A of Nepc, LlcJun 21, 2022 · Control person joined · fact
- Minard Richard Charlton (Chairman Emeritus) no longer on Schedule A of Nepc, Llc (listed 2022-03-31, absent 2022-06-21)Jun 21, 2022 · Control person left · inference
- Wheeler Douglas Moseley (Partner And Member Of The Executive Committee) no longer on Schedule A of Nepc, Llc (listed 2022-03-31, absent 2022-06-21)Jun 21, 2022 · Control person left · inference
- Kellie Kane (Chief Operating Officer) appeared on Schedule A of Nepc, LlcJun 21, 2022 · Control person joined · fact
- Nepc, Llc reported RAUM $66.3B, up 49% from $44.5B (2021-11-05 to 2022-03-31)Mar 31, 2022 · RAUM change · derived
- Marie Karen Harding (Partner And Member Of The Executive Committee) appeared on Schedule A of Nepc, LlcJun 29, 2021 · Control person joined · fact
- F Timothy Mccusker (Chief Investment Officer) appeared on Schedule A of Nepc, LlcJun 29, 2021 · Control person joined · fact
- W. B. Sean Gill (Partner And Member Of The Executive Committee) no longer on Schedule A of Nepc, Llc (listed 2021-05-07, absent 2021-06-29)Jun 29, 2021 · Control person left · inference
- Nepc, Llc reported RAUM $44.5B, up 51% from $29.5B (2020-06-29 to 2021-03-31)Mar 31, 2021 · RAUM change · derived
- M Samuel Austin (Partner And Member Of The Executive Committee) appeared on Schedule A of Nepc, LlcJun 29, 2020 · Control person joined · fact
- Allison Christine Loughlin (Partner And Member Of The Executive Committee) no longer on Schedule A of Nepc, Llc (listed 2020-03-31, absent 2020-06-29)Jun 29, 2020 · Control person left · inference
- Nepc, Llc reported RAUM $29.5B, up 56% from $19.0B (2019-10-04 to 2020-03-31)Mar 31, 2020 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
- Nepc, LLC · Independent Sponsorsshared crd · capital_provider
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/nepcreportedpublic record, Form ADV, Sep 17, 2026
- Website
- NEPC.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 617-374-1300reportedpublic record, Form ADV, Jul 22, 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
- $153Bderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026
Across the graphs
Nepc, LLC 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.
Checking your plan…