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.
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SEC-registered adviser
L•• R••••• A••••••• I• L••
Latest filing Mar 23, 2026
First filing on the tape Mar 27, 2012 · 23 filings
SEC status approved since Aug 19, 1992
RAUM
$1.6B
reported, Item 5.F
Discretionary
0.0%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
9
7 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
23 filings and snapshots on the tape
RAUM$1.6B as of Mar 23, 2026
Mar 27, 2012$820M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 23, 2026
Mar 27, 20120 then
Employees (5.A)9 as of Mar 23, 2026
Mar 21, 20139 then
Private funds: no history
RAUM -11% over the last fiscal year-13% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 23, 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
- PE backed · a Schedule A entity owner at 25 percent or more whose exact legal name is a PE fund vehicle or a classified PE sponsor on the DFX private equity graph
- RAUM per advisor
- unknownderivedRAUM 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
- $1.6BderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 0.0%derivedof RAUM
- Institutional
- 100%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- -11%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- performance-based, otherreportedItem 5.E
- Advisory activities
- portfolio management for businesses and institutionsreportedItem 5.G
- Custody
- $39.4M, 1 clientsreportedItem 9.A
- Ownership
- a PE fund or sponsor is a 25 percent or greater owner on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- has custody of client cash or bank accounts (9.A.1.a)
- an independent public accountant performs a surprise examination (9.C.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- State and municipal entities$1.6B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 1reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $39.4M for 1 clientsreported
- Compensation
- performancereported
- Class basis
- private_client_share=0.0 fund_share=0.0 institutional_share=1.0 related_bd=false related_bank=false bd_reps=0.0derived
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
none on the tape
Joined, latest
none on the tape
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- B••••••••• S••••• M••••• · Chief Compliance Officercontrolsince 09/2017 · owns less than 5%
- R••••••••• J••••••• A•• · Presidentcontrolsince 01/2007 · owns less than 5%
- C••••• J••••• D••••• · Sole Membercontrolsince 03/2005 · owns 75% or more of J• T•••••• G•• L••
- D••••• C••••••• A••••• · Sole Membercontrolsince 07/2013 · owns 75% or more of C• T•••••• V•• L••
- F•••••••• S••••••• N•• · Sole Membercontrolsince 12/2013 · owns 75% or more of S• T•••••• V•• L••
- W••••••• D••••• J•• · Sole Membercontrolsince 03/2005 · owns 75% or more of D• T•••••• G•• L••
- Z•••••• N••••••• D•••• · Sole Membercontrolsince 11/2006 · owns 75% or more of N• T•••••• G•• L••
Entity owners
- R•••• P••••••• C•••••• B••••••• L•• · Sole Memberdirect · owns 75% or more
- C• T•••••• V•• L•• · General Partnerindirect · owns F of T•••••• C•••••• I• L•
- D• T•••••• G•• L•• · General Partnerindirect · owns F of T•••••• C•••••• I• L•
- J• T•••••• G•• L•• · General Partnerindirect · owns F of T•••••• C•••••• I• L•
- N• T•••••• G•• L•• · General Partnerindirect · owns F of T•••••• C•••••• I• L•
- R•••• P••••••• C•••••• H••••••• G• L•• · General Partnerindirect · owns F of R•••• P••••••• C•••••• H••••••• L•
- R•••• P••••••• C•••••• H••••••• L• · Ownerindirect · owns 75% or more of R•••• P••••••• C•••••• I••••••••• L••
- R•••• P••••••• C•••••• I••••••••• L•• · Ownerindirect · owns 75% or more of R•••• P••••••• C•••••• B••••••• L••
- S• T•••••• V•• L•• · General Partnerindirect · owns F of T•••••• C•••••• I• L•
- T•••••• C•••••• I• L• · General Partnerindirect · owns F of T•••••• I• L•
- T•••••• C•••••• I• L• · General Partnerindirect · owns F of T•••••• R•••• H••••••• L•
- T•••••• C•••••• I• L• · General Partnerindirect · owns F of T••• P••••••• R•• C••••• L•
- T•••••• R•••• H••••••• L• · Memberindirect · owns 75% or more of T•••••• R•••• H••••••• L••
- T••• P••••••• R•• C••••• L• · Limited Partnerindirect · owns 25% to 50% of T•••••• R•••• H••••••• L•
- T•••••• I• L• · Limited Partnerindirect · owns 25% to 50% of T•••••• R•••• H••••••• L•
- T•••••• R•••• H••••••• L•• · Limited Partnerindirect · owns 75% or more of R•••• P••••••• C•••••• H••••••• L•
Related persons
Schedule D 7.A
- L•••••• A••••••• G••••• L••investment advisernRAUM $3.2B
- L•••••• I••••••••• A••••••• L••investment advisern
- L•••••• P••••••• C•••••• C••••••••• L••investment companyn
- L•• C••••••••• S•••••••• L••investment companyn
- L•• W•••• L••investment companyn
Advisers that list L•• R••••• A••••••• I• L•• as a related person
- 114003 n
Offices
Schedule D 1.F, the 25 largest
- Chicago, IL9 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- low discretionary shareStatic outlier · filing Mar 23, 2026discretionary share of RAUM of 0% against a peer median of 99% (121 comparable advisers, 0.0th percentile, 33.5 robust deviations)peers: institutional managers, $1B to $5B (121) · 0.0% percentile
What changed
consecutive filings, newest first
- Business name · L•••••• A••••••• to L•• R••••• A••••••• I• L••Jul 23, 2025 to Mar 23, 2026
- Assets in custody · $49.5M to $39.4MJul 23, 2025 to Mar 23, 2026
- Non-discretionary RAUM · $1.9B to $1.6BJul 23, 2025 to Mar 23, 2026
- RAUM · $1.9B to $1.6BJul 23, 2025 to Mar 23, 2026
- Financial planning clients · unset to Apr 25, 2025 to Jul 23, 2025
- Advisory employees · 6 to 7Mar 21, 2024 to Apr 25, 2025
- Assets in custody · $48.5M to $49.5MMar 21, 2024 to Apr 25, 2025
- HQ city · DALLAS to CHICAGOMar 21, 2024 to Apr 25, 2025
- HQ state · TX to ILMar 21, 2024 to Apr 25, 2025
- Other offices · 1 to 0Mar 21, 2024 to Apr 25, 2025
- Non-discretionary RAUM · $2.1B to $1.9BMar 21, 2024 to Apr 25, 2025
- RAUM · $2.1B to $1.9BMar 21, 2024 to Apr 25, 2025
- Advisory employees · 7 to 6Aug 7, 2023 to Mar 21, 2024
- Assets in custody · $49.9M to $48.5MAug 7, 2023 to Mar 21, 2024
- Non-discretionary RAUM · $2.5B to $2.1BAug 7, 2023 to Mar 21, 2024
- RAUM · $2.5B to $2.1BAug 7, 2023 to Mar 21, 2024
- HQ city · CHICAGO to DALLASApr 7, 2023 to Aug 7, 2023
- HQ state · IL to TXApr 7, 2023 to Aug 7, 2023
- Other offices · 0 to 1Apr 7, 2023 to Aug 7, 2023
- Legal name · L•• R••••• A••••••• I• L• to L•• R••••• A••••••• I• L••Mar 3, 2023 to Apr 7, 2023
- Succession · true to falseMar 3, 2023 to Apr 7, 2023
- Advisory employees · 8 to 7Mar 25, 2022 to Mar 3, 2023
- Assets in custody · $55.9M to $49.9MMar 25, 2022 to Mar 3, 2023
- Employees · 10 to 9Mar 25, 2022 to Mar 3, 2023
- Organization form · Limited Partnership to Limited Liability CompanyMar 25, 2022 to Mar 3, 2023
- Non-discretionary RAUM · $1.7B to $2.5BMar 25, 2022 to Mar 3, 2023
- RAUM · $1.7B to $2.5BMar 25, 2022 to Mar 3, 2023
- Succession · false to trueMar 25, 2022 to Mar 3, 2023
- Advisory employees · 6 to 8Mar 30, 2021 to Mar 25, 2022
- Assets in custody · $50.4M to $55.9MMar 30, 2021 to Mar 25, 2022
- Employees · 8 to 10Mar 30, 2021 to Mar 25, 2022
- Non-discretionary RAUM · $1.9B to $1.7BMar 30, 2021 to Mar 25, 2022
- RAUM · $1.9B to $1.7BMar 30, 2021 to Mar 25, 2022
- Advisory employees · 5 to 6Mar 17, 2020 to Mar 30, 2021
- Assets in custody · $40.7M to $50.4MMar 17, 2020 to Mar 30, 2021
- Employees · 7 to 8Mar 17, 2020 to Mar 30, 2021
- Non-discretionary RAUM · $1.7B to $1.9BMar 17, 2020 to Mar 30, 2021
- RAUM · $1.7B to $1.9BMar 17, 2020 to Mar 30, 2021
- Assets in custody · $47.4M to $40.7MMar 28, 2019 to Mar 17, 2020
- Non-discretionary RAUM · $1.7B to $1.7BMar 28, 2019 to Mar 17, 2020
Signals
10 dated events
- Dawson James Carey (Sole Member) appeared on Schedule A of L•• R••••• A••••••• I• L••Apr 7, 2023 · Control person joined · fact
- Arthur Charles Davis (Sole Member) appeared on Schedule A of L•• R••••• A••••••• I• L••Apr 7, 2023 · Control person joined · fact
- Nmn Stephen Friedman (Sole Member) appeared on Schedule A of L•• R••••• A••••••• I• L••Apr 7, 2023 · Control person joined · fact
- Jay David Wermuth (Sole Member) appeared on Schedule A of L•• R••••• A••••••• I• L••Apr 7, 2023 · Control person joined · fact
- David Nicolas Zerbib (Sole Member) appeared on Schedule A of L•• R••••• A••••••• I• L••Apr 7, 2023 · Control person joined · fact
- L•••••• A••••••• reported succeeding to the business of Another Adviser (Form ADV Item 4)Mar 3, 2023 · Succession (Item 4) · fact
- L•• R••••• A••••••• I• L•• reported RAUM $2.5B, up 44% from $1.7B (2022-03-25 to 2023-03-03)Mar 3, 2023 · RAUM change · derived
- Gregory S. Courtwright (Owner) no longer on Schedule A of L•• R••••• A••••••• I• L•• (listed 2022-03-25, absent 2023-03-03)Mar 3, 2023 · Control person left · inference
- Clayborne William Duvall (Trustee) no longer on Schedule A of L•• R••••• A••••••• I• L•• (listed 2022-03-25, absent 2023-03-03)Mar 3, 2023 · Control person left · inference
- Mack Alfred Pogue (Limited Partner) no longer on Schedule A of L•• R••••• A••••••• I• L•• (listed 2022-03-25, absent 2023-03-03)Mar 3, 2023 · 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
- Website
- lincolnadvisors.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 312-345-8780reportedpublic record, Form ADV, Mar 23, 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
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026