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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Former SEC-registered adviser

B•••• A••••••• S••••••••• L••

Former SEC-registered adviserBaltimore, MarylandCRD 120736SEC 801-61427IAPD
Latest filing Mar 30, 2022
First filing on the tape Mar 30, 2012 · 29 filings
RAUM
$392M
reported, Item 5.F
Discretionary
74%
of RAUM
Private clients
86%
$336M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
10
7 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
29 filings and snapshots on the tape
RAUM$392M as of Mar 30, 2022
Mar 30, 2012$555M then
HNW client RAUM$238M as of Mar 30, 2022
Mar 29, 2018$1.1B then
State-registered IARs (5.B.3)6 as of Mar 30, 2022
Apr 1, 201333 then
Employees (5.A)10 as of Mar 30, 2022
Apr 1, 201340 then
Private funds: no history
RAUM -65% over the last fiscal year-35% a year over threeIARs 13 to 6
Practice profile
derived from the filing of Mar 30, 2022; every figure names its basis
RAUM per advisor
$65.3MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
36derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$3.4MderivedHNW RAUM over HNW clients
Average account
$997,537derivedRAUM over accounts (5.F.2.f)
Discretionary
74%derivedof RAUM
Institutional
8.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.7derivedItem 5.A over advisors
Advisors per office
3.0derived2 offices incl. principal (1.F.5)
RAUM growth, one year
-65%derivedbetween the last two annual amendments
Advisor growth, one year
-54%derivedItem 5.B.3 between annual amendments
Client growth, one year
-44%derived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisers, otherreportedItem 5.G
Wrap fee program
participatesreportedItem 5.I
Custody
$392M, 239 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
  • is a broker-dealer (6.A.1)
  • 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)
  • has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$238M61%
  • Individuals$98.1M25%
  • Charitable organizations$34.5M8.8%
  • Corporations and businesses$21.1M5.4%
Individual clients
146reported
HNW clients
70reported
Pension plan clients
0reported
Charitable clients
17reported
Accounts
393reported
Financial planning clients
n/areported
Wrap fee programs
$0 sponsored, $0 managedreported
Custody of client assets
$392M for 239 clientsreported
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
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • C••••••••• D•••• M•••••• · Chief Operating Officer And Chief Financial Officercontrol
      since 04/2002 · owns less than 5%
    • K•••••• K•••• K••• · Designated Principalcontrol
      since 01/2019 · owns less than 5%
    • R•••••• B•••• D•••• · General Counsel And Chief Compliance Officercontrol
      since 08/2010 · owns less than 5%
    Entity owners
    • B•••• A••••••• M••••••••• L•• · Holding Company/Managing Member
      direct · owns 75% or more
    • B•••• A••••••• G•••• H••••••• L•• · Holding Company
      indirect · owns 25% to 50% of B•••• A••••••• M••••••••• L••
    • B•••• A•••••••• I••••••••• · Unit Holder/Managing Member
      indirect · owns F of B•••• A••••••• M••••••••• L••
    Related persons
    Schedule D 7.A
    Advisers that list B•••• A••••••• S••••••••• L•• as a related person
    Offices
    Schedule D 1.F, the 25 largest
    • Chevy Chase, MD1 employees
    What changed
    consecutive filings, newest first
    • Accounts · 783 to 393
      Dec 9, 2021 to Mar 30, 2022
    • Advisory employees · 15 to 7
      Dec 9, 2021 to Mar 30, 2022
    • BD registered reps · 17 to 10
      Dec 9, 2021 to Mar 30, 2022
    • Charity clients · 14 to 17
      Dec 9, 2021 to Mar 30, 2022
    • Corporate clients · 7 to 6
      Dec 9, 2021 to Mar 30, 2022
    • HNW clients · 228 to 70
      Dec 9, 2021 to Mar 30, 2022
    • Individual clients · 157 to 146
      Dec 9, 2021 to Mar 30, 2022
    • Pension plan clients · unset to 0.0
      Dec 9, 2021 to Mar 30, 2022
    • Assets in custody · $1.1B to $392M
      Dec 9, 2021 to Mar 30, 2022
    • Employees · 18 to 10
      Dec 9, 2021 to Mar 30, 2022
    • State-registered IARs · 13 to 6
      Dec 9, 2021 to Mar 30, 2022
    • Discretionary RAUM · $834M to $289M
      Dec 9, 2021 to Mar 30, 2022
    • HNW RAUM · $973M to $238M
      Dec 9, 2021 to Mar 30, 2022
    • Individual RAUM · $55.3M to $98.1M
      Dec 9, 2021 to Mar 30, 2022
    • Non-discretionary RAUM · $272M to $103M
      Dec 9, 2021 to Mar 30, 2022
    • Pension RAUM · $4.5M to $0
      Dec 9, 2021 to Mar 30, 2022
    • RAUM · $1.1B to $392M
      Dec 9, 2021 to Mar 30, 2022
    • Accounts · 806 to 783
      Jun 29, 2020 to Mar 30, 2021
    • Charity clients · 19 to 14
      Jun 29, 2020 to Mar 30, 2021
    • Corporate clients · 8 to 7
      Jun 29, 2020 to Mar 30, 2021
    • HNW clients · 235 to 228
      Jun 29, 2020 to Mar 30, 2021
    • Individual clients · 160 to 157
      Jun 29, 2020 to Mar 30, 2021
    • Pension plan clients · 6.0 to unset
      Jun 29, 2020 to Mar 30, 2021
    • Assets in custody · $923M to $1.1B
      Jun 29, 2020 to Mar 30, 2021
    • Discretionary RAUM · $695M to $834M
      Jun 29, 2020 to Mar 30, 2021
    • HNW RAUM · $703M to $973M
      Jun 29, 2020 to Mar 30, 2021
    • Individual RAUM · $131M to $55.3M
      Jun 29, 2020 to Mar 30, 2021
    • Non-discretionary RAUM · $228M to $272M
      Jun 29, 2020 to Mar 30, 2021
    • Pension RAUM · $13.5M to $4.5M
      Jun 29, 2020 to Mar 30, 2021
    • RAUM · $923M to $1.1B
      Jun 29, 2020 to Mar 30, 2021
    • Accounts · 1,929 to 806
      Oct 11, 2019 to Mar 30, 2020
    • Advisory employees · 11 to 15
      Oct 11, 2019 to Mar 30, 2020
    • BD registered reps · 14 to 17
      Oct 11, 2019 to Mar 30, 2020
    • Charity clients · 22 to 19
      Oct 11, 2019 to Mar 30, 2020
    • Corporate clients · 14 to 8
      Oct 11, 2019 to Mar 30, 2020
    • HNW clients · 356 to 235
      Oct 11, 2019 to Mar 30, 2020
    • Individual clients · 523 to 160
      Oct 11, 2019 to Mar 30, 2020
    • Pension plan clients · 12 to 6
      Oct 11, 2019 to Mar 30, 2020
    • Assets in custody · $1.4B to $923M
      Oct 11, 2019 to Mar 30, 2020
    • Employees · 16 to 18
      Oct 11, 2019 to Mar 30, 2020
    Signals
    8 dated events
    • A••••• P• W••••••• left B•••• A••••••• S••••••••• L•• for J••• M••••• S••••••••• L•• (registered 2022-10-20)
      Dec 8, 2022 · Advisor changed firm · fact
    • B•••• A••••••• S••••••••• L•• reported RAUM $392.0M, down 65% from $1.1B (2021-12-09 to 2022-03-30)
      Mar 30, 2022 · RAUM change · derived
    • Thomas Jr Schweizer (President) no longer on Schedule A of B•••• A••••••• S••••••••• L•• (listed 2021-12-09, absent 2022-03-30)
      Mar 30, 2022 · Control person left · inference
    • B•••• A••••••• S••••••••• L•• reported RAUM $923.0M, down 35% from $1.4B (2019-10-11 to 2020-03-30)
      Mar 30, 2020 · RAUM change · derived
    • B•••• A••••••• S••••••••• L•• reported 11 state-registered advisory representatives, down from 26 (2019-01-29 to 2019-03-29)
      Mar 29, 2019 · Advisor headcount change · derived
    • J••••••• D•••• V••••••• (Designated Principal) no longer on Schedule A of B•••• A••••••• S••••••••• L•• (listed 2018-12-19, absent 2019-01-29)
      Jan 29, 2019 · Control person left · inference
    • Kevin Karl Kraska (Designated Principal) appeared on Schedule A of B•••• A••••••• S••••••••• L••
      Jan 29, 2019 · Control person joined · fact
    • B•••• A••••••• S••••••••• L•• reported RAUM $1.4B, up 31% from $1.1B (2017-09-28 to 2018-03-29)
      Mar 29, 2018 · RAUM change · derived
    Across DFX
    shared identifiers only, never a name match
    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