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.
The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.
SEC-registered adviser
E•••••••• M••••••••• C•••
Latest filing Mar 26, 2026
First filing on the tape Feb 6, 2012 · 44 filings
SEC status approved since Sep 11, 1991
RAUM
$712M
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
93%
$659M individuals and HNW
Advisors
7
registered through the firm on IAPD
RAUM per advisor
$102M
derived; firm RAUM over IAPD count
Employees
12
7 advisory (5.B.1)
Offices
4
beyond the principal office
Private funds
0
reported on Schedule D
History
44 filings and snapshots on the tape
RAUM$712M as of Mar 26, 2026
Feb 6, 2012$795M then
HNW client RAUM$553M as of Mar 26, 2026
Mar 19, 2018$316M then
State-registered IARs (5.B.3)7 as of Mar 26, 2026
Mar 7, 20135 then
Employees (5.A)12 as of Mar 26, 2026
Mar 7, 20138 then
Private funds: no history
RAUM +8.4% over the last fiscal year+9.6% a year over threeIARs 7 to 7
Practice profile
derived from the filing of Mar 26, 2026; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- RAUM per advisor
- $102MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 44derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $4.2MderivedHNW RAUM over HNW clients
- Average account
- $816,601derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 99%derivedof RAUM
- Institutional
- 2.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.7derivedItem 5.A over advisors
- Advisors per office
- 1.4derived5 offices incl. principal (1.F.5)
- RAUM growth, one year
- +8.4%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -1.6%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
- Custody
- $141M, 186 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)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$553M78%
- Individuals$106M15%
- Corporations and businesses$33.7M4.7%
- Charitable organizations$16.7M2.3%
- Pension and profit-sharing plans$2.9M0.4%
- Individual clients
- 176reported
- HNW clients
- 131reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 872reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- $141M for 186 clientsreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=0.93 fund_share=0.0 institutional_share=0.03 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
7 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| W•••• D••••• W••••• | South Hadley, Ma | Apr 14, 1994 | 41 y | 0 |
| M•••••• W•••••• D••••••••• | Waltham, Ma | May 29, 2003 | 33 y | 0 |
| M••• H••••••• O••••Chartered Financial Analyst | Waltham, Ma | Nov 29, 2004 | 25 y | 0 |
| B•••••• C•••••• H••••••Certified Financial Planner | Holden, Ma | Mar 5, 2019 | 31 y | 2 |
| K••••••• L••••• L••••••Personal Financial Specialist | Waltham, Ma | Nov 5, 2019 | 41 y | 1 |
| D•••• N••• L•••••• | Wellesley, Ma | Nov 5, 2019 | 41 y | 1 |
| M•••••• M•••••• D••••••••• | Wilmette, Il | Apr 26, 2021 | 21 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 headcount0 left over 36 months
Left, latest
- J••• R••• I••••• to C•••••••• A•••••••Nov 5, 2004 · Other
Joined, latest
- D•••• N••• L•••••• from S••••• F•••••••• M••••••••• C•••••••••Nov 5, 2019 · Other
- K••••••• L••••• L•••••• from S••••• F•••••••• M••••••••• C•••••••••Nov 5, 2019 · Other
- B•••••• C•••••• H•••••• from T•• H•••••• C••••••• I•••Mar 5, 2019 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from S••••• F•••••••• M••••••••• C•••••••••Apr 14, 2020 · Wellesley, Ma
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- B••••• E••••• M•••• · Chief C••••••••• Officercontrolsince 11/2022 · owns less than 5%
- D••••••••• M••••••• W•••••• · President And Managing Directorcontrolsince 04/2015 · owns 50% to 75%
- O••••• M•••• H••••••• · Managing Director And Principalcontrolsince 08/2015 · owns 50% to 75%
Related persons
Schedule D 7.A
- D•••• N••• L••••••insurancey
- E•••• M•••• B••••insurancen
- K••••••• L••••• L••••••insurancey
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Waltham, Ma · principal | 7 | 0 | 0 | ||
| Wellesley, Ma | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
What changed
consecutive filings, newest first
- Accounts · 906 to 872Jan 20, 2026 to Mar 26, 2026
- HNW clients · 141 to 131Jan 20, 2026 to Mar 26, 2026
- Individual clients · 171 to 176Jan 20, 2026 to Mar 26, 2026
- Assets in custody · $197M to $141MJan 20, 2026 to Mar 26, 2026
- Discretionary RAUM · $648M to $707MJan 20, 2026 to Mar 26, 2026
- HNW RAUM · $540M to $553MJan 20, 2026 to Mar 26, 2026
- Individual RAUM · $65.8M to $106MJan 20, 2026 to Mar 26, 2026
- Non-discretionary RAUM · $8.6M to $4.7MJan 20, 2026 to Mar 26, 2026
- Pension RAUM · $2.7M to $2.9MJan 20, 2026 to Mar 26, 2026
- RAUM · $657M to $712MJan 20, 2026 to Mar 26, 2026
- Accounts · 827 to 906Oct 31, 2024 to Mar 24, 2025
- Advisory employees · 8 to 7Oct 31, 2024 to Mar 24, 2025
- Advisory activities · 2 to 3Oct 31, 2024 to Mar 24, 2025
- HNW clients · 135 to 141Oct 31, 2024 to Mar 24, 2025
- Individual clients · 167 to 171Oct 31, 2024 to Mar 24, 2025
- Assets in custody · $282M to $197MOct 31, 2024 to Mar 24, 2025
- Employees · 11 to 12Oct 31, 2024 to Mar 24, 2025
- Financial planning clients · 51-100 to 51-100Oct 31, 2024 to Mar 24, 2025
- State-registered IARs · 8 to 7Oct 31, 2024 to Mar 24, 2025
- Discretionary RAUM · $601M to $648MOct 31, 2024 to Mar 24, 2025
- HNW RAUM · $492M to $540MOct 31, 2024 to Mar 24, 2025
- Individual RAUM · $64.6M to $65.8MOct 31, 2024 to Mar 24, 2025
- Non-discretionary RAUM · $5.8M to $8.6MOct 31, 2024 to Mar 24, 2025
- Pension RAUM · $4.0M to $2.7MOct 31, 2024 to Mar 24, 2025
- RAUM · $606M to $657MOct 31, 2024 to Mar 24, 2025
- Other offices · 5 to 4May 10, 2024 to May 17, 2024
- Accounts · 829 to 827Jul 13, 2023 to Mar 26, 2024
- Advisory activities · 3 to 2Jul 13, 2023 to Mar 26, 2024
- HNW clients · 150 to 135Jul 13, 2023 to Mar 26, 2024
- Individual clients · 150 to 167Jul 13, 2023 to Mar 26, 2024
- Assets in custody · $269M to $282MJul 13, 2023 to Mar 26, 2024
- Discretionary RAUM · $534M to $601MJul 13, 2023 to Mar 26, 2024
- HNW RAUM · $444M to $492MJul 13, 2023 to Mar 26, 2024
- Individual RAUM · $50.6M to $64.6MJul 13, 2023 to Mar 26, 2024
- Non-discretionary RAUM · $6.7M to $5.8MJul 13, 2023 to Mar 26, 2024
- Pension RAUM · $3.8M to $4.0MJul 13, 2023 to Mar 26, 2024
- RAUM · $541M to $606MJul 13, 2023 to Mar 26, 2024
- HQ city · NEWTON to WALTHAMMar 30, 2023 to Jul 13, 2023
- Accounts · 819 to 829Nov 23, 2022 to Mar 30, 2023
- HNW clients · 155 to 150Nov 23, 2022 to Mar 30, 2023
Signals
4 dated events
- E•••••••• M••••••••• C••• reported 5 offices beyond its principal office, up from 0 (2022-11-23 to 2023-03-30)Mar 30, 2023 · Office count change · derived
- Marie Ellen Bruno (Chief Compliance Officer) appeared on Schedule A of E•••••••• M••••••••• C•••Nov 23, 2022 · Control person joined · fact
- Donald Wayne Wetzel (Managing Director) no longer on Schedule A of E•••••••• M••••••••• C••• (listed 2019-02-08, absent 2019-03-27)Mar 27, 2019 · Control person left · inference
- Stewart Thomas Drumm (Managing Director) no longer on Schedule A of E•••••••• M••••••••• C••• (listed 2019-02-08, absent 2019-03-27)Mar 27, 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
- Business phone
- 617-916-9669reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- excalmgmt.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- (617) 916-9669reportedpublic record, Form ADV, Mar 26, 2026
- Contact form
- excalmgmt.com/contactreportedpublished by the firm, firm site, Sep 16, 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
- $102Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026