DFX Intelligence
RIA Intelligence
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SEC-registered adviser
A•• C•••••• M••••••••• L••
Latest filing Apr 29, 2026
First filing on the tape Mar 29, 2012 · 44 filings
SEC status approved since Sep 8, 2000
RAUM
$37B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$16.1M individuals and HNW
Advisors
17
registered through the firm on IAPD
RAUM per advisor
$2.2B
derived; firm RAUM over IAPD count
Employees
62
33 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
44 filings and snapshots on the tape
RAUM$37B as of Apr 29, 2026
Mar 29, 2012$9.0B then
HNW client RAUM$16.1M as of Apr 29, 2026
Mar 30, 2018$10.7M then
State-registered IARs (5.B.3)18 as of Apr 29, 2026
Mar 28, 201314 then
Employees (5.A)62 as of Apr 29, 2026
Mar 28, 201358 then
Private funds: no history
RAUM +12% over the last fiscal year+11% a year over threeIARs 18 to 18
Practice profile
derived from the filing of Apr 29, 2026; every figure names its basis
- RAUM per advisor
- $2.2BderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $16.1MderivedHNW RAUM over HNW clients
- Average account
- $437MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 5.6%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 3.6derivedItem 5.A over advisors
- Advisors per office
- 8.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +12%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, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehiclesreportedItem 5.G
- Custody
- $4.2B, 2 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)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- an independent public accountant performs a surprise examination (9.C.1)
- a related person acts as qualified custodian (9.D.2)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$33B90%
- Corporations and businesses$1.6B4.4%
- Pension and profit-sharing plans$1.1B3.1%
- Insurance companies$737M2.0%
- Charitable organizations$176M0.5%
- High-net-worth individuals$16.1M0.0%
- State and municipal entities$5.2M0.0%
- Individual clients
- n/areported
- HNW clients
- 1reported
- Pension plan clients
- 21reported
- Charitable clients
- 18reported
- Accounts
- 84reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $4.2B for 2 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=0.9 institutional_share=0.06 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
8 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| F•••••• P••• N•••• | Bethesda, Md | Feb 8, 2011 | 15 y | 0 |
| R••••• B•••• B••••••••Chartered Financial Analyst | Bethesda, Md | Jun 1, 2015 | 14 y | 0 |
| R••••• J• G••••• | Bethesda, Md | Oct 8, 2018 | 11 y | 0 |
| M•••••• B••••• R••••• | Bethesda, Md | Dec 19, 2022 | 13 y | 0 |
| S••• F••••••• | Bethesda, Md | May 23, 2023 | 21 y | 0 |
| J••• R••••• D••••••Chartered Financial Analyst | Bethesda, Md | Nov 19, 2023 | 13 y | 0 |
| L••••••• P•••••• B••••••••• | Bethesda, Md | Jan 30, 2024 | 15 y | 0 |
| A••••• L••••• S•••••• | Bethesda, Md | Feb 7, 2024 | 11 y | 1 |
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
- M••••• J••••• M••••••••• to R••• C•••••• A••••••• L••Apr 20, 2022 · Other
- R••••• E••• K•••• to C•••••••• G••••• M•••••• I•••Jul 5, 2017 · Other
- C•••••• W•••••• D•••• to C•••• C•••• T•••• C••••••Nov 15, 2016 · Other
- J•••• A•• N•••• to G•••• L•••• A•••••••• L••Dec 8, 2010 · Other
- J••• A••••• E•••••• to E•••••• W••••• M••••••••• L••Mar 26, 2010 · Other
- D••••• B•••••• M••••• to T•••••• I••••••••• M••••••••• L••Apr 22, 2008 · Other
- H•••••• T••••• E••••• to L••• I••••••••• A•••••••• L••Mar 15, 2004 · Other
Joined, latest
- A••••• L••••• S•••••• from M•••••• L••••• P•••••• F••••• • S•••• I•••••••••Feb 7, 2024 · Other
- C•••••• W•••••• D•••• from C•••• C•••• T•••• C••••••May 31, 2013 · Other
- M•••••• J••••• S••••••• from L••• M•••• I••••••••• C••••••Jun 29, 2010 · Other
- R••••• E••• K•••• from C•••• C•••• T•••• C••••••May 29, 2008 · Other
- J••• A••••• E•••••• from C•••• C•••• T•••• C••••••May 29, 2008 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- B••••••••• R•••••• B•••• · Ceo, A•• C•••••• M••••••••• L••controlsince 05/2012 · owns less than 5%
- C•••••• G•••••• P•••••• · Directorcontrolsince 07/2010 · owns less than 5%
- D•••••• P•••• R•• · Chief Compliance Officercontrolsince 01/2005 · owns less than 5%
- F•••••••• J•••• A••••• · Chief Financial Officercontrolsince 03/2010 · owns less than 5%
- G••••••••• G••••••• M••••••• · Directorcontrolsince 01/2010 · owns less than 5%
- L•••••• P•••••••• S••• · Vice Chaircontrolsince 03/2022 · owns less than 5%
- M•••••••• W••••••• F• •• O•••• · Directorcontrolsince 11/1997 · owns less than 5%
- P•••••• H•••••• G•••••• · Directorcontrolsince 03/2009 · owns less than 5%
- P•••••• E•••• A•••••••• · Directorcontrolsince 04/2018 · owns less than 5%
- R•••• B••••••• J••••• · General C••••••controlsince 01/2024 · owns less than 5%
- R•••••• M••••••• B••••• · Chief Operating Officercontrolsince 04/2023 · owns less than 5%
- S•••• B••••••• F•••••• I• · Chairman Of The Board Of Directorscontrolsince 11/1997 · owns less than 5%
- W•••••••• J•••• J•••••• · Directorcontrolsince 01/2021 · owns less than 5%
- S•••• B••••••• F•••••• I• · Ownercontrolsince 02/2009 · owns 75% or more of C•••• C•••• H•••••••• I•••
Entity owners
- C•••• C•••• T•••• H•••••••• L•• · Ownerdirect · owns 75% or more
- C•••• C•••• H•••••••• I••• · Ownerindirect · owns 75% or more of W••••••••• I••••••••• L••
- W••••••••• I••••••••• L•• · Ownerindirect · owns 75% or more of C•••• C•••• T•••• H•••••••• L••
Related persons
Schedule D 7.A
- C•••• C•••• T•••• C••••••investment adviserpooled vehicle sponsorcustodiannRAUM $45B
Advisers that list A•• C•••••• M••••••••• L•• as a related person
- 110742 n
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Bethesda, Md · principal | 17 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Palo Alto, CA5 employees
What changed
consecutive filings, newest first
- Accounts · 83 to 84May 21, 2025 to Mar 31, 2026
- Advisory employees · 31 to 33May 21, 2025 to Mar 31, 2026
- Charity clients · 17 to 18May 21, 2025 to Mar 31, 2026
- Corporate clients · 16 to 19May 21, 2025 to Mar 31, 2026
- Pension plan clients · 22 to 21May 21, 2025 to Mar 31, 2026
- Pooled vehicle clients · 6 to 5May 21, 2025 to Mar 31, 2026
- Assets in custody · $4.3B to $4.2BMay 21, 2025 to Mar 31, 2026
- Employees · 67 to 62May 21, 2025 to Mar 31, 2026
- Discretionary RAUM · $33B to $37BMay 21, 2025 to Mar 31, 2026
- HNW RAUM · $14.5M to $16.1MMay 21, 2025 to Mar 31, 2026
- Pension RAUM · $1.0B to $1.1BMay 21, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $30B to $33BMay 21, 2025 to Mar 31, 2026
- RAUM · $33B to $37BMay 21, 2025 to Mar 31, 2026
- Financial planning clients · 0 to 0Apr 30, 2025 to May 21, 2025
- Accounts · 81 to 83Aug 19, 2024 to Apr 30, 2025
- Advisory employees · 34 to 31Aug 19, 2024 to Apr 30, 2025
- Charity clients · 18 to 17Aug 19, 2024 to Apr 30, 2025
- HNW clients · 2 to 1Aug 19, 2024 to Apr 30, 2025
- Pension plan clients · 21 to 22Aug 19, 2024 to Apr 30, 2025
- Assets in custody · $5.2B to $4.3BAug 19, 2024 to Apr 30, 2025
- Employees · 80 to 67Aug 19, 2024 to Apr 30, 2025
- State-registered IARs · 16 to 18Aug 19, 2024 to Apr 30, 2025
- Discretionary RAUM · $30B to $33BAug 19, 2024 to Apr 30, 2025
- HNW RAUM · $13.8M to $14.5MAug 19, 2024 to Apr 30, 2025
- Pension RAUM · $958M to $1.0BAug 19, 2024 to Apr 30, 2025
- Pooled vehicle RAUM · $27B to $30BAug 19, 2024 to Apr 30, 2025
- RAUM · $30B to $33BAug 19, 2024 to Apr 30, 2025
- Accounts · 87 to 81Jan 12, 2024 to Mar 29, 2024
- Advisory employees · 44 to 34Jan 12, 2024 to Mar 29, 2024
- Advisory activities · 4 to 3Jan 12, 2024 to Mar 29, 2024
- Corporate clients · 17 to 16Jan 12, 2024 to Mar 29, 2024
- Pension plan clients · 25 to 21Jan 12, 2024 to Mar 29, 2024
- Assets in custody · $6.7B to $5.2BJan 12, 2024 to Mar 29, 2024
- Employees · 77 to 80Jan 12, 2024 to Mar 29, 2024
- State-registered IARs · 18 to 16Jan 12, 2024 to Mar 29, 2024
- Discretionary RAUM · $27B to $30BJan 12, 2024 to Mar 29, 2024
- HNW RAUM · $13.0M to $13.8MJan 12, 2024 to Mar 29, 2024
- Pension RAUM · $875M to $958MJan 12, 2024 to Mar 29, 2024
- Pooled vehicle RAUM · $25B to $27BJan 12, 2024 to Mar 29, 2024
- RAUM · $27B to $30BJan 12, 2024 to Mar 29, 2024
Signals
10 dated events
- Michael Peter Welber (Director) no longer on Schedule A of A•• C•••••• M••••••••• L•• (listed 2024-05-13, absent 2024-08-19)Aug 19, 2024 · Control person left · inference
- Nicolaides Christine Kearns (Vice Chair, General Counsel) no longer on Schedule A of A•• C•••••• M••••••••• L•• (listed 2023-06-06, absent 2024-01-12)Jan 12, 2024 · Control person left · inference
- J••••• B•••••• R••• (General Counsel) appeared on Schedule A of A•• C•••••• M••••••••• L••Jan 12, 2024 · Control person joined · fact
- B••••• M•••••• R••••• (Chief Operating Officer) appeared on Schedule A of A•• C•••••• M••••••••• L••Jun 6, 2023 · Control person joined · fact
- M••••• J••••• M••••••••• left A•• C•••••• M••••••••• L•• for R••• C•••••• A••••••• L•• (registered 2022-08-15)Apr 20, 2022 · Advisor changed firm · fact
- Jeffrey J••• Whitaker (Director) appeared on Schedule A of A•• C•••••• M••••••••• L••Mar 27, 2021 · Control person joined · fact
- Francis Bernard S••• (Director) no longer on Schedule A of A•• C•••••• M••••••••• L•• (listed 2020-05-05, absent 2020-06-05)Jun 5, 2020 · Control person left · inference
- Doheny Lasalle Leffall (Director) no longer on Schedule A of A•• C•••••• M••••••••• L•• (listed 2019-03-28, absent 2019-05-17)May 17, 2019 · Control person left · inference
- R••••• Walter Fatzinger (Director) no longer on Schedule A of A•• C•••••• M••••••••• L•• (listed 2018-10-30, absent 2019-03-28)Mar 28, 2019 · Control person left · inference
- S••• P••••••• L••••• (Director) appeared on Schedule A of A•• C•••••• M••••••••• L••Mar 28, 2019 · Control person joined · 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
- Firm profile
- linkedin.com/company/asb-capital-managementreportedpublic record, Form ADV, Sep 21, 2026
- Firm profile
- linkedin.com/company/asb-real-estate-investmentsreportedpublic record, Form ADV, Sep 21, 2026
- Website
- a••••.comreportedpublic record, Form ADV, Sep 21, 2026
- Principal office phone
- 240-482-2900reportedpublic record, Form ADV, Apr 29, 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
- Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
- RAUM per advisor
- $2.2Bderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026