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

I•••••••• L••

Other adviserBoston, MassachusettsCRD 122816SEC 801-61527website IAPD

Latest filing Mar 30, 2026

First filing on the tape Apr 2, 2012 · 22 filings

SEC status approved since Oct 18, 2002

RAUM

$1.5B

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

17%

$244M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$208M

derived; firm RAUM over IAPD count

Employees

6 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

22 filings and snapshots on the tape

RAUM$1.5B as of Mar 30, 2026

Apr 2, 2012$278M then

HNW client RAUM$199M as of Mar 30, 2026

Mar 29, 2018$55.1M then

State-registered IARs (5.B.3)6 as of Mar 30, 2026

Mar 28, 20134 then

Employees (5.A)9 as of Mar 30, 2026

Mar 28, 20137 then

Private funds: no history

RAUM +17% over the last fiscal year+15% a year over threeIARs 7 to 6

Practice profile

derived from the filing of Mar 30, 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
Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients

RAUM per advisor: $208MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 26derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $3.3MderivedHNW RAUM over HNW clients
Average account: $2.8MderivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 83%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 1.3derivedItem 5.A over advisors
Advisors per office: 7.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year: +17%derivedbetween the last two annual amendments
Advisor growth, one year: -14%derivedItem 5.B.3 between annual amendments
Client growth, one year: -1.1%derived
Compensation: percentage of assets, fixed feesreportedItem 5.E
Advisory activities: financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, otherreportedItem 5.G
Custody: $15.9M, 9 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)
has custody of client securities (9.A.1.b)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Pension and profit-sharing plans$1.2B83%
High-net-worth individuals$199M14%
Individuals$45.2M3.1%
Charitable organizations$719,7260.0%

Individual clients: 120reported
HNW clients: 60reported
Pension plan clients: 39reported
Charitable clients: 1reported
Accounts: 528reported
Financial planning clients: 0reported
Wrap fee programs: noreported
Custody of client assets: $15.9M for 9 clientsreported
Compensation: % of AUM, fixedreported
Class basis: private_client_share=0.17 fund_share=0.0 institutional_share=0.83 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
K•••• A•• U••••	Portsmouth, Nh	Mar 11, 2003	29 y	0
M•••• A••• G••••••	Boston, Ma	Sep 2, 2011	20 y	1
E••• F•••• W••••	Boston, Ma	Nov 18, 2015	13 y	0
T•••• M•••• M••••••	Boston, Ma	Oct 25, 2016	19 y	0
M••••• E•••••••• R•••••	Boston, Ma	Mar 17, 2017	21 y	0
R••• D• R•••••••••	Boston, Ma	Nov 30, 2020	13 y	2
E•••• K•••••••	Boston, Ma	Nov 29, 2024	12 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 headcount1 left over 36 months

Left, latest

A••• Y• P•• to R••••••••• A•• W••••• A• A••••••• L••
Jul 15, 2024 · Other
T••• A••••• H••••• to G••••• • C••••••
Feb 16, 2023 · Other
J••• A•••••••• C•••• to M•••••• L••••• P•••••• F••••• • S•••• I•••••••••
Feb 29, 2016 · Other
M•••••• B• R•••• to S•••••••• A••••••• L••
May 21, 2014 · Other
M•••••• P••• G•••• to L••••••••• C••••••• L••
Mar 13, 2014 · Other
S•••• J• P•••••••• to C••••••• S••••••••• I•••
Sep 17, 2013 · Other
B•••• D••••• F•••• to L••••••••• C••••••• L••
Aug 30, 2010 · Other
O••••• R•••••• T••• to N•• I••••••••• S••••••••
May 23, 2006 · Other
R•••••• S• S•••••• to E•••••• P•••• A••••••• I•••
Feb 6, 2003 · Other

Joined, latest

R••• D• R••••••••• from A•••••••• F•••• M••••••••• L••
Nov 30, 2020 · Other
J••• A•••••••• C•••• from C••••••• M••••••••• I••••••••• A•••••••• L••
Jul 28, 2015 · Other
M•••••• B• R•••• from G• I••••••••• S•••••••• L••
Dec 7, 2012 · Other
M•••• A••• G•••••• from L•• F•••••••• L••
Sep 2, 2011 · Other

Every departure Every arrival

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

U••••• K••••• A•• · Ceo/Manager/Chief Compliance Officercontrol
since 08/2002 · owns 75% or more
U••••• R••••••• C• · Membercontrol
since 03/2003 · owns 10% to 25%
U••••• R••••••• · Membercontrol
since 04/2007 · owns 10% to 25%

Related persons

Schedule D 7.A

No related person reported.

Office movement

IAPD branch city; joins and departures in 12 months

Office	Advisors	Joined	Left	Teams out	Forming
Boston, Ma · principal	7	0	0

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

What changed

consecutive filings, newest first

Accounts · 503 to 528
Apr 10, 2025 to Mar 30, 2026
Advisory employees · 7 to 6
Apr 10, 2025 to Mar 30, 2026
HNW clients · 61 to 60
Apr 10, 2025 to Mar 30, 2026
Individual clients · 121 to 120
Apr 10, 2025 to Mar 30, 2026
Pension plan clients · 36 to 39
Apr 10, 2025 to Mar 30, 2026
Assets in custody · $14.3M to $15.9M
Apr 10, 2025 to Mar 30, 2026
State-registered IARs · 7 to 6
Apr 10, 2025 to Mar 30, 2026
Discretionary RAUM · $1.2B to $1.5B
Apr 10, 2025 to Mar 30, 2026
HNW RAUM · $171M to $199M
Apr 10, 2025 to Mar 30, 2026
Individual RAUM · $36.0M to $45.2M
Apr 10, 2025 to Mar 30, 2026
Non-discretionary RAUM · $341,086 to $390,494
Apr 10, 2025 to Mar 30, 2026
Pension RAUM · $1.0B to $1.2B
Apr 10, 2025 to Mar 30, 2026
RAUM · $1.2B to $1.5B
Apr 10, 2025 to Mar 30, 2026
Accounts · 540 to 503
Mar 28, 2024 to Apr 10, 2025
HNW clients · 57 to 61
Mar 28, 2024 to Apr 10, 2025
Individual clients · 13 to 121
Mar 28, 2024 to Apr 10, 2025
Pension plan clients · 34 to 36
Mar 28, 2024 to Apr 10, 2025
Assets in custody · $15.4M to $14.3M
Mar 28, 2024 to Apr 10, 2025
Financial planning clients · 0 to 0
Mar 28, 2024 to Apr 10, 2025
Discretionary RAUM · $1.1B to $1.2B
Mar 28, 2024 to Apr 10, 2025
HNW RAUM · $141M to $171M
Mar 28, 2024 to Apr 10, 2025
Individual RAUM · $40.7M to $36.0M
Mar 28, 2024 to Apr 10, 2025
Non-discretionary RAUM · $280,320 to $341,086
Mar 28, 2024 to Apr 10, 2025
Pension RAUM · $942M to $1.0B
Mar 28, 2024 to Apr 10, 2025
RAUM · $1.1B to $1.2B
Mar 28, 2024 to Apr 10, 2025
Accounts · 520 to 540
Mar 28, 2023 to Mar 28, 2024
Advisory activities · 4 to 5
Mar 28, 2023 to Mar 28, 2024
HNW clients · 54 to 57
Mar 28, 2023 to Mar 28, 2024
Individual clients · 137 to 13
Mar 28, 2023 to Mar 28, 2024
Pension plan clients · 36 to 34
Mar 28, 2023 to Mar 28, 2024
Assets in custody · $31.7M to $15.4M
Mar 28, 2023 to Mar 28, 2024
Employees · 10 to 9
Mar 28, 2023 to Mar 28, 2024
Discretionary RAUM · $958M to $1.1B
Mar 28, 2023 to Mar 28, 2024
HNW RAUM · $117M to $141M
Mar 28, 2023 to Mar 28, 2024
Individual RAUM · $33.0M to $40.7M
Mar 28, 2023 to Mar 28, 2024
Non-discretionary RAUM · $325,026 to $280,320
Mar 28, 2023 to Mar 28, 2024
Pension RAUM · $808M to $942M
Mar 28, 2023 to Mar 28, 2024
RAUM · $958M to $1.1B
Mar 28, 2023 to Mar 28, 2024
Accounts · 525 to 520
Mar 23, 2022 to Mar 28, 2023
Advisory employees · 6 to 7
Mar 23, 2022 to Mar 28, 2023

Signals

3 dated events

A••• Y• P•• left I•••••••• L•• for R••••••••• A•• W••••• A• A••••••• L•• (registered 2024-07-01)
Jul 15, 2024 · Advisor changed firm · fact
T••• A••••• H••••• left I•••••••• L•• for G••••• • C•••••• (registered 2022-05-31)
Feb 16, 2023 · Advisor changed firm · fact
I•••••••• L•• reported RAUM $1.1B, up 29% from $848.2M (2021-03-30 to 2022-03-23)
Mar 23, 2022 · RAUM change · derived

Across DFX

shared identifiers only, never a name match

I•••••••• L•• · Private Equity
shared crd · intermediary

How to reach

public business contact points only, each with its source

Firm profile: linkedin.com/company/icapital/aboutreportedpublic record, Form ADV, Sep 18, 2026
Website: H•••S://WWW.icapllc.usreportedpublic record, Form ADV, Sep 18, 2026
Principal office phone: (617)542-8700reportedpublic record, Form ADV, Mar 30, 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: Other adviserderiveda rule over Items 5.D and 7.A
RAUM per advisor: $208Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026

Across the graphs

I•••••••• L•• is the same institution as 1 record in Real Estate Funds.

Real Estate Funds1

Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.

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