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

R•••• M••••••••• C••••••• L••

Former SEC-registered adviserMenlo Park, CaliforniaCRD 128449SEC 801-69740IAPD
Latest filing Apr 29, 2024
First filing on the tape Mar 30, 2012 · 20 filings
RAUM
$1.4B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
98%
$1.3B individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
14
6 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
2
$30.3M gross assets
History
20 filings and snapshots on the tape
RAUM$1.4B as of Mar 27, 2024
Mar 30, 2012$914M then
HNW client RAUM$1.3B as of Mar 27, 2024
Mar 29, 2018$2.9B then
State-registered IARs (5.B.3)0 as of Mar 27, 2024
Mar 30, 20120 then
Employees (5.A)14 as of Mar 27, 2024
Mar 27, 201313 then
Private funds2 as of Mar 27, 2024
Mar 30, 20129 then
RAUM -67% over the last fiscal year-30% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Apr 29, 2024; every figure names its basis
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
$73.3MderivedHNW RAUM over HNW clients
Average account
$58.8MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived2 offices incl. principal (1.F.5)
RAUM growth, one year
-67%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, selection of other advisersreportedItem 5.G
Custody
$684M, 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)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • 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)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$1.3B98%
  • Pooled investment vehicles$29.6M2.2%
  • Charitable organizations$3.3M0.2%
Individual clients
n/areported
HNW clients
18reported
Pension plan clients
n/areported
Charitable clients
1reported
Accounts
23reported
Financial planning clients
11-25reported
Wrap fee programs
noreported
Custody of client assets
$684M for 9 clientsreported
Compensation
% of AUM, fixedreported
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
none on the tape
    Joined, latest
    none on the tape
      Private funds
      7 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      R•••• L••••• H••••• L•••no longer reportedHedge Fund$9.8M4Mar 30, 2012
      R•••• E••••• P••••••• I••• L•••no longer reportedPrivate Equity Fund$2.4M75Mar 30, 2012
      R•••• I•••••••• 2•••••• L••no longer reportedPrivate Equity Fund$1.1M16Mar 30, 2012
      R•••• E••••• P••••••• I• L•••no longer reportedPrivate Equity Fund$00Mar 30, 2012
      R•••• G••••• A••••••••• F•••• L•••no longer reportedHedge Fund$00Mar 30, 2012
      R•••• I•••• O••••••••• F•••• L•••no longer reportedHedge Fund$00Mar 30, 2012
      R•••• E••••• V••••••••• S•••••••• L•••no longer reportedHedge Fund$00Mar 30, 2012
      Owners and control persons
      Schedule A and B, latest filing
      • A•••••••• A••••••• · Chief Compliance Officercontrol
        since 03/2018 · owns less than 5%
      • B••••••••• R•••••• F•••••• · Managing Membercontrol
        since 01/2003 · owns 25% to 50%
      • G••••••• P••••• B•••• · Managing Membercontrol
        since 01/2021 · owns 10% to 25%
      • G•• S•••••• S•••• · Chief Operating Officercontrol
        since 09/2010 · owns less than 5%
      • D••••••• S••••••• C• · Member
        since 01/2021 · owns 10% to 25%
      • K••••••• M••••••• A•••• · Member
        since 01/2021 · owns 10% to 25%
      Entity owners
      • T•• F••••••••• F••••• T•••• · General Partner
        indirect · owns 25% to 50% of T•• F••••••••• F••••• P•••••••••
      • T•• F••••••••• F••••• P••••••••• · Member
        direct · owns 50% to 75%
      • E••• F••••••••• F••••• 2••• T•••• · Limited Partner
        indirect · owns 25% to 50% of T•• F••••••••• F••••• P•••••••••
      • T•• G••• F• M•••• T•••• · Limited Partner
        indirect · owns 25% to 50% of T•• F••••••••• F••••• P•••••••••
      Related persons
      Schedule D 7.A
      No related person reported.
      Offices
      Schedule D 1.F, the 25 largest
      • San F••••••Co, CA3 employees
      What changed
      consecutive filings, newest first
      • Accounts · 50 to 23
        Mar 30, 2023 to Mar 27, 2024
      • Charity clients · 7 to 1
        Mar 30, 2023 to Mar 27, 2024
      • HNW clients · 36 to 18
        Mar 30, 2023 to Mar 27, 2024
      • Individual clients · 3.0 to unset
        Mar 30, 2023 to Mar 27, 2024
      • Assets in custody · $816M to $684M
        Mar 30, 2023 to Mar 27, 2024
      • Insurance-licensed employees · 0 to 4
        Mar 30, 2023 to Mar 27, 2024
      • Financial planning clients · 26-50 to 11-25
        Mar 30, 2023 to Mar 27, 2024
      • Discretionary RAUM · $4.1B to $1.4B
        Mar 30, 2023 to Mar 27, 2024
      • HNW RAUM · $3.3B to $1.3B
        Mar 30, 2023 to Mar 27, 2024
      • Individual RAUM · 3724965.0 to unset
        Mar 30, 2023 to Mar 27, 2024
      • Pooled vehicle RAUM · $40.1M to $29.6M
        Mar 30, 2023 to Mar 27, 2024
      • RAUM · $4.1B to $1.4B
        Mar 30, 2023 to Mar 27, 2024
      • Accounts · 48 to 50
        Sep 27, 2022 to Mar 30, 2023
      • Advisory employees · 5 to 6
        Sep 27, 2022 to Mar 30, 2023
      • HNW clients · 33 to 36
        Sep 27, 2022 to Mar 30, 2023
      • Individual clients · 4 to 3
        Sep 27, 2022 to Mar 30, 2023
      • Assets in custody · $975M to $816M
        Sep 27, 2022 to Mar 30, 2023
      • Discretionary RAUM · $4.4B to $4.1B
        Sep 27, 2022 to Mar 30, 2023
      • HNW RAUM · $3.5B to $3.3B
        Sep 27, 2022 to Mar 30, 2023
      • Individual RAUM · $6.8M to $3.7M
        Sep 27, 2022 to Mar 30, 2023
      • Pooled vehicle RAUM · $49.3M to $40.1M
        Sep 27, 2022 to Mar 30, 2023
      • RAUM · $4.4B to $4.1B
        Sep 27, 2022 to Mar 30, 2023
      • Accounts · 53 to 48
        Mar 21, 2021 to Mar 24, 2022
      • Individual clients · 3 to 4
        Mar 21, 2021 to Mar 24, 2022
      • Pooled vehicle clients · 5 to 4
        Mar 21, 2021 to Mar 24, 2022
      • Assets in custody · $765M to $975M
        Mar 21, 2021 to Mar 24, 2022
      • Discretionary RAUM · $3.9B to $4.4B
        Mar 21, 2021 to Mar 24, 2022
      • HNW RAUM · $3.0B to $3.5B
        Mar 21, 2021 to Mar 24, 2022
      • Individual RAUM · $8.6M to $6.8M
        Mar 21, 2021 to Mar 24, 2022
      • Pooled vehicle RAUM · $42.6M to $49.3M
        Mar 21, 2021 to Mar 24, 2022
      • RAUM · $3.9B to $4.4B
        Mar 21, 2021 to Mar 24, 2022
      • Charity clients · 6 to 7
        Jun 22, 2020 to Mar 21, 2021
      • HNW clients · 37 to 33
        Jun 22, 2020 to Mar 21, 2021
      • Individual clients · 7 to 3
        Jun 22, 2020 to Mar 21, 2021
      • Pooled vehicle clients · 3 to 5
        Jun 22, 2020 to Mar 21, 2021
      • Assets in custody · $30.8M to $765M
        Jun 22, 2020 to Mar 21, 2021
      • Employees · 15 to 14
        Jun 22, 2020 to Mar 21, 2021
      • Discretionary RAUM · $3.7B to $3.9B
        Jun 22, 2020 to Mar 21, 2021
      • HNW RAUM · $2.9B to $3.0B
        Jun 22, 2020 to Mar 21, 2021
      • Individual RAUM · $8.6M to $8.6M
        Jun 22, 2020 to Mar 21, 2021
      Signals
      6 dated events
      • R•••• M••••••••• C••••••• L•• reported RAUM $1.4B, down 67% from $4.1B (2023-03-30 to 2024-03-27)
        Mar 27, 2024 · RAUM change · derived
      • Eric Freidenrich (Limited Partner) no longer on Schedule A of R•••• M••••••••• C••••••• L•• (listed 2023-03-30, absent 2024-03-27)
        Mar 27, 2024 · Control person left · inference
      • Clumeck Jill Freidenrich (General Partner) no longer on Schedule A of R•••• M••••••••• C••••••• L•• (listed 2023-03-30, absent 2024-03-27)
        Mar 27, 2024 · Control person left · inference
      • Gail Marks (Limited Partner) no longer on Schedule A of R•••• M••••••••• C••••••• L•• (listed 2023-03-30, absent 2024-03-27)
        Mar 27, 2024 · Control person left · inference
      • Berry Peter Gifford (Managing Member) appeared on Schedule A of R•••• M••••••••• C••••••• L••
        Mar 27, 2024 · Control person joined · fact
      • R•••• M••••••••• C••••••• L•• reported RAUM $3.6B, up 75% from $2.1B (2017-03-29 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
      Across the graphs

      R•••• M••••••••• C••••••• 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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