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.

Former SEC-registered adviser

Municrest Investment Management Company, LLC

Former SEC-registered adviserNorth Andover, MassachusettsCRD 111631SEC 801-60301IAPD

Latest filing Dec 17, 2020

First filing on the tape Mar 14, 2012 · 20 filings

RAUM

$3.6M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

100%

$3.6M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

n/a

derived; firm RAUM over IAPD count

Employees

3 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

20 filings and snapshots on the tape

RAUM$3.6M as of Feb 12, 2020

Mar 14, 2012$291M then

HNW client RAUM$3.6M as of Feb 12, 2020

Mar 11, 2019$4.6M then

State-registered IARs (5.B.3)3 as of Feb 12, 2020

Mar 14, 20120 then

Employees (5.A)3 as of Feb 12, 2020

Feb 4, 20133 then

Private funds: no history

RAUM -99% over the last fiscal year-79% a year over threeIARs 3 to 3offices 0 to 1

Practice profile

derived from the filing of Dec 17, 2020; every figure names its basis

RAUM per advisor: $1.2MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client: unknownderivedHNW RAUM over HNW clients
Average account: $1.8MderivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 1.0derivedItem 5.A over advisors
Advisors per office: 1.5derived2 offices incl. principal (1.F.5)
RAUM growth, one year: -99%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 assetsreportedItem 5.E
Advisory activities: portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 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

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)

Where the RAUM sits

Form ADV Item 5.D, latest filing

High-net-worth individuals$3.6M100%

Individual clients: n/areported
HNW clients: n/areported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 2reported
Financial planning clients: n/areported
Wrap fee programs: noreported
Custody of client assets: noreported
Compensation: % of AUMreported
Class basis: absent from the latest SEC rosterderived

Advisors registered through the firm

0 on IAPD today, longest tenure first

No representative is registered through this CRD on IAPD.

Advisor movement

Left, latest

Michael Edwards to Hightower Advisors, LLC
Nov 28, 2022 · RIA to affiliated broker-dealer or bank
Joseph J Trainor to Hightower Advisors, LLC
Nov 28, 2022 · RIA to affiliated broker-dealer or bank

Joined, latest

Joseph J Trainor from Boston Hill Advisors, LLC
Jan 18, 2012 · Other
Michael Edwards from Boston Hill Advisors, LLC
Jan 18, 2012 · Other

Every departure Every arrival

Teams: two or more advisors moving together within fourteen days, from one state

2 left for Hightower Advisors, LLC
Nov 28, 2022 · North Andover, Ma

2 joined from Boston Hill Advisors, LLC
Nov 2, 2023 · North Andover, Ma

Teams out Teams in

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

Francis Michael Edwards · Managing Membercontrol
since 04/2008 · owns less than 5%
David Jeffrey Slater · Managing Member/Chief Compliance Officercontrol
since 04/2008 · owns 25% to 50%
James Joseph Trainor · Managing Membercontrol
since 04/2008 · owns less than 5%
Francis Michael Edwards · Managing Member/Chief Compliance Officercontrol
since 07/2006 · owns 50% to 75% of Boston Hill Advisors, LLC
James Joseph Trainor · Managing Membercontrol
since 04/2008 · owns 50% to 75% of Boston Hill Advisors, LLC

Entity owners

Boston Hill Advisors, LLC · Managing Member
direct · owns 50% to 75%

Related persons

Schedule D 7.A

Boston Hill Advisors, LLC
investment adviseryRAUM $988M

Offices

Schedule D 1.F, the 25 largest

, 1 employees

What changed

consecutive filings, newest first

Other offices · 0 to 1
Nov 5, 2020 to Dec 17, 2020
Accounts · 6 to 2
Mar 11, 2019 to Feb 12, 2020
Discretionary RAUM · $294M to $3.6M
Mar 11, 2019 to Feb 12, 2020
HNW RAUM · $4.6M to $3.6M
Mar 11, 2019 to Feb 12, 2020
Non-discretionary RAUM · $102M to $0
Mar 11, 2019 to Feb 12, 2020
RAUM · $396M to $3.6M
Mar 11, 2019 to Feb 12, 2020
Discretionary RAUM · $296M to $294M
Mar 12, 2018 to Mar 11, 2019
HNW RAUM · unset to 4556180.0
Mar 12, 2018 to Mar 11, 2019
Individual RAUM · 5160224.0 to unset
Mar 12, 2018 to Mar 11, 2019
Non-discretionary RAUM · $101M to $102M
Mar 12, 2018 to Mar 11, 2019
RAUM · $397M to $396M
Mar 12, 2018 to Mar 11, 2019
Insurance-licensed employees · 3 to 2
Mar 23, 2017 to Mar 12, 2018
Other offices · unset to 0.0
Mar 23, 2017 to Mar 12, 2018
Discretionary RAUM · $284M to $296M
Mar 23, 2017 to Mar 12, 2018
Individual RAUM · unset to 5160224.0
Mar 23, 2017 to Mar 12, 2018
Non-discretionary RAUM · $105M to $101M
Mar 23, 2017 to Mar 12, 2018
RAUM · $389M to $397M
Mar 23, 2017 to Mar 12, 2018
Discretionary RAUM · $278M to $284M
Apr 7, 2016 to Mar 23, 2017
Non-discretionary RAUM · $84.9M to $105M
Apr 7, 2016 to Mar 23, 2017
RAUM · $363M to $389M
Apr 7, 2016 to Mar 23, 2017
Accounts · 7 to 6
Apr 23, 2015 to Mar 2, 2016
Insurance-licensed employees · 2 to 3
Apr 23, 2015 to Mar 2, 2016
Discretionary RAUM · $266M to $278M
Apr 23, 2015 to Mar 2, 2016
Non-discretionary RAUM · $56.4M to $84.9M
Apr 23, 2015 to Mar 2, 2016
RAUM · $322M to $363M
Apr 23, 2015 to Mar 2, 2016
Accounts · 12 to 7
Feb 20, 2014 to Feb 26, 2015
Discretionary RAUM · $261M to $266M
Feb 20, 2014 to Feb 26, 2015
Non-discretionary RAUM · $63.6M to $56.4M
Feb 20, 2014 to Feb 26, 2015
RAUM · $325M to $322M
Feb 20, 2014 to Feb 26, 2015
Accounts · 37 to 12
Feb 4, 2013 to Feb 20, 2014
Discretionary RAUM · $267M to $261M
Feb 4, 2013 to Feb 20, 2014
Non-discretionary RAUM · $62.8M to $63.6M
Feb 4, 2013 to Feb 20, 2014
RAUM · $330M to $325M
Feb 4, 2013 to Feb 20, 2014
Accounts · 36 to 37
Mar 14, 2012 to Feb 4, 2013
Advisory employees · unset to 3.0
Mar 14, 2012 to Feb 4, 2013
Employees · unset to 3.0
Mar 14, 2012 to Feb 4, 2013
State-registered IARs · 0 to 3
Mar 14, 2012 to Feb 4, 2013
Discretionary RAUM · $240M to $267M
Mar 14, 2012 to Feb 4, 2013
Non-discretionary RAUM · $50.5M to $62.8M
Mar 14, 2012 to Feb 4, 2013
RAUM · $291M to $330M
Mar 14, 2012 to Feb 4, 2013

Signals

6 dated events

2 advisors left Boston Hill Advisors, LLC (North Andover, MA) for Municrest Investment Management Company, LLC on the same day
Nov 2, 2023 · Team lift-out · derived
Joseph J Trainor left Municrest Investment Management Company, Llc for Hightower Advisors, Llc (registered 2023-08-01)
Nov 28, 2022 · Advisor changed firm · fact
Michael Edwards left Municrest Investment Management Company, Llc for Hightower Advisors, Llc (registered 2023-08-01)
Nov 28, 2022 · Advisor changed firm · fact
2 advisors left Municrest Investment Management Company, LLC (North Andover, MA) for Hightower Advisors, LLC on the same day
Nov 28, 2022 · Team lift-out · derived
Anthony Michael Berardi (Managing Member) no longer on Schedule A of Municrest Investment Management Company, Llc (listed 2020-06-29, absent 2020-07-14)
Jul 14, 2020 · Control person left · inference
Municrest Investment Management Company, Llc reported RAUM $3.6M, down 99% from $396.1M (2019-03-11 to 2020-02-12)
Feb 12, 2020 · RAUM change · derived

Across DFX

shared identifiers only, never a name match

No identifier-backed link to the venture, private equity, family office or sponsor graphs.

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: Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
RAUM per advisor: n/aderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026