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

V•••••••• L•

Former SEC-registered adviserNewtown Square, PennsylvaniaCRD 130758SEC 801-62911IAPD

Latest filing Mar 30, 2023

First filing on the tape Mar 30, 2012 · 24 filings

RAUM

$17B

reported, Item 5.F

Discretionary

99%

of RAUM

Private clients

69%

$11B individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

n/a

derived; firm RAUM over IAPD count

Employees

50 advisory (5.B.1)

Offices

beyond the principal office

Private funds

$4.8B gross assets

History

24 filings and snapshots on the tape

RAUM$17B as of Mar 30, 2023

Mar 30, 2012$11B then

HNW client RAUM$11B as of Mar 30, 2023

Mar 30, 2018$11B then

State-registered IARs (5.B.3)28 as of Mar 30, 2023

Mar 30, 20120 then

Employees (5.A)88 as of Mar 30, 2023

Apr 1, 201384 then

Private funds27 as of Mar 30, 2023

Mar 30, 201250 then

RAUM -17% over the last fiscal year-1.6% a year over threeIARs 28 to 28

Practice profile

derived from the filing of Mar 30, 2023; every figure names its basis

RAUM per advisor: $590MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client: $44.1MderivedHNW RAUM over HNW clients
Average account: $4.5MderivedRAUM over accounts (5.F.2.f)
Discretionary: 99%derivedof RAUM
Institutional: 5.7%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 3.1derivedItem 5.A over advisors
Advisors per office: 28.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year: -17%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 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: $17B, 411 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)

Where the RAUM sits

Form ADV Item 5.D, latest filing

High-net-worth individuals$11B69%
Pooled investment vehicles$2.5B15%
Corporations and businesses$1.7B10%
Charitable organizations$944M5.7%
Individuals$592,9520.0%

Individual clients: n/areported
HNW clients: 258reported
Pension plan clients: 0reported
Charitable clients: 65reported
Accounts: 3,674reported
Financial planning clients: 251-500reported
Wrap fee programs: noreported
Custody of client assets: $17B for 411 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

A••••• J••••• J••• to P••••••••
Sep 18, 2023 · RIA to RIA
D••••• A••••• B••••• to P••••••••
Sep 18, 2023 · RIA to RIA
P•••••• J•••• D•••••••• to P••••••••
Sep 18, 2023 · RIA to RIA
B•••• I•• R••••••• to P••••••••
Sep 18, 2023 · RIA to RIA
B•••• A••••• B•••••• to P••••••••
Sep 18, 2023 · RIA to RIA
C•••••• P••••• K••••• to P••••••••
Sep 18, 2023 · RIA to RIA
J•••••• A•••• M••••••• to P••••••••
Sep 18, 2023 · RIA to RIA
J•••••••• L•••• K•••••• G•••• to P••••••••
Sep 18, 2023 · RIA to RIA
R••••• K•••• S•••••• to P••••••••
Sep 18, 2023 · RIA to RIA
D•••• M•••••• B•••• to P••••••••
Sep 18, 2023 · RIA to RIA
J••• J••••• S•••••• to P••••••••
Sep 18, 2023 · RIA to RIA
G••••• F••••••• S•••• to P••••••••
Sep 18, 2023 · RIA to RIA
F•••••••• R••• B••••• to P••••••••
Sep 18, 2023 · RIA to RIA
A•• R••••• P•••• to P••••••••
Sep 18, 2023 · RIA to RIA
P••• R• P••••••••• to P••••••••
Sep 18, 2023 · RIA to RIA

Joined, latest

J•••••••• L•••• K•••••• G•••• from S•• I••••••••• M••••••••• C•••
Apr 17, 2014 · Other
J••• J••••• S•••••• from B••• S•••••• A•••• M••••••••• I•••
Apr 20, 2005 · Other

Every departure Every arrival

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

24 left for P••••••••
Sep 18, 2023 · Edgemont, Pa · Firm absorbed

Teams out Teams in

Private funds

56 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
V•••••no longer reported	Hedge Fund	$151M	2	Mar 31, 2017
V•••••	Hedge Fund	$145M	1	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$117M	3	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$113M	3	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$110M	2	Mar 31, 2017
V••••• • V••••••• F••• • A• L•••no longer reported	Hedge Fund	$102M	2	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$96.9M	1	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$90.1M	2	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$86.0M	3	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$83.1M	2	Mar 31, 2014
V•••••no longer reported	Hedge Fund	$81.2M	3	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$74.9M	3	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$74.7M	2	Mar 30, 2012
V••••• • V••••••• F••• • S•• L••• • A•••no longer reported	Hedge Fund	$73.1M	2	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$68.5M	3	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$62.2M	2	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$60.0M	2	Mar 31, 2014
V•••••no longer reported	Hedge Fund	$59.3M	2	Mar 30, 2012
V•••••••• A• P•••••••• L•••no longer reported	Hedge Fund	$56.5M	146	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$52.4M	2	Mar 31, 2014
P••••••• I••••••••• P•••••••• L•••no longer reported	Hedge Fund	$50.9M	220	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$49.1M	1	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$49.0M	2	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$46.5M	2	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$43.0M	2	Mar 30, 2012
V•••••••• R••••••• P•••••••• L••• • S••••• B•no longer reported	Hedge Fund	$39.7M	66	Mar 30, 2012
V•••••••• P•••••• E••••• P•••••••• L•no longer reported	Hedge Fund	$39.1M	64	Mar 30, 2012
V•••••	Hedge Fund	$36.2M	2	Mar 31, 2021
V•••••no longer reported	Hedge Fund	$34.3M	3	Mar 30, 2012
V•••••	Hedge Fund	$32.4M	2	May 3, 2012
V•••••no longer reported	Hedge Fund	$24.4M	3	Mar 30, 2012
V•••••••• R••••••• P•••••••• L•••no longer reported	Hedge Fund	$22.3M	33	Mar 30, 2012
V••••• • V••••••• F••• • S•• L•••no longer reported	Hedge Fund	$22.2M	2	Mar 31, 2014
V•••••••• L••• B••••• I••••••••• F•••• L•••no longer reported	Hedge Fund	$17.9M	17	May 3, 2012
V•••••no longer reported	Hedge Fund	$17.1M	2	Mar 31, 2014
V••••• • V••••••• F••• • J• L•••	Hedge Fund	$7.0M	2	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$4.5M	4	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$4.3M	3	Mar 30, 2012
V•••••no longer reported	Hedge Fund	$3.5M	3	Mar 30, 2012
V•••••••• C• P•••••••• L•••no longer reported	Hedge Fund	$3.2M	32	Mar 30, 2012

All funds of V•••••••• L•

Owners and control persons

Schedule A and B, latest filing

S••••••• M••••••• A•••• · Limited Partner, Co-Chief Executive Officercontrol
since 03/2004 · owns 5% to 10%
B••••• D••••• M•••••• · Limited Partner, Chief Investment Officer
since 04/2004 · owns less than 5%
K•••••• C••••••• P••••• · Limited Partner, G•••••• Counsel, Chief Compliance Officer
since 07/2007 · owns less than 5%
K••••••••• V••••••• E•••• · Limited Partner, Chief Financial Officer
since 06/2017 · owns less than 5%
M••••••• T•••••• D••••• · Limited Partner, Chief Risk Officer
since 08/2010 · owns less than 5%
M•••••• J••••• D•••••• · Limited Partner, Senior Compliance Officer
since 01/2015 · owns less than 5%
S••••••• J•••• J••••• · Limited Partner, Co-Chief Executive Officer, Chief Operations Officer
since 04/2005 · owns less than 5%

Entity owners

S•••• A••••••••• G•• L•• · G•••••• Partner
direct · owns less than 5%
S•••• A••••••••• L•• L•• · Limited Partner
direct · owns 75% or more
A••••••••• M••••••• G••••• I••• · Sole Shareholder Of A•• W• G• H••••••• C••••
indirect · owns 75% or more of A•• W• G• H••••••• C•••• · public reporting company
A••••••••• M••••••• G••••• I••• · Manager And Member Of A•• W• L• H•••••••• L••
indirect · owns 75% or more of A•• W• L• H•••••••• L•• · public reporting company
A•• W••••• P•••••••• L• · Manager And Sole Member Of S•••• A••••••••• G•• L••
indirect · owns 75% or more of S•••• A••••••••• G•• L••
A•• W••••• P•••••••• L• · Manager And Sole Member Of S•••• A••••••••• L•• L••
indirect · owns 75% or more of S•••• A••••••••• L•• L••
A•• W• G• H••••••• C•••• · G•••••• Partner Of A•• W••••• P•••••••• L•
indirect · owns F of A•• W••••• P•••••••• L•
A•• W• L• H•••••••• L•• · Limited Partner Of A•• W••••• P•••••••• L•
indirect · owns 75% or more of A•• W••••• P•••••••• L•

Related persons

Schedule D 7.A

A•••••• C•••••• P••••••• G•• L•••••
pooled vehicle sponsory
A•••••• C•••••• P••••••• I• G•• L•••••
pooled vehicle sponsory
A•••••• C•••••• P••••••• I•• L•••••
investment adviserbankyRAUM $528M
C••••••• A••••• C•••••• P••••••• I• G•• L•••••
pooled vehicle sponsory
C••••••• C•••••• M••••••••• L•••••
investment adviserbankyRAUM $344M
V•••••••• P••••••••• H••••••• I•••
bankpooled vehicle sponsory

Advisers that list V•••••••• L• as a related person

283365 n

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

What changed

consecutive filings, newest first

Accounts · 3,588 to 3,674
Nov 9, 2022 to Mar 30, 2023
Advisory employees · 51 to 50
Nov 9, 2022 to Mar 30, 2023
Corporate clients · 60 to 76
Nov 9, 2022 to Mar 30, 2023
HNW clients · 246 to 258
Nov 9, 2022 to Mar 30, 2023
Pooled vehicle clients · 10 to 9
Nov 9, 2022 to Mar 30, 2023
Assets in custody · $20B to $17B
Nov 9, 2022 to Mar 30, 2023
Employees · 87 to 88
Nov 9, 2022 to Mar 30, 2023
Private funds · 29 to 27
Nov 9, 2022 to Mar 30, 2023
Discretionary RAUM · $20B to $16B
Nov 9, 2022 to Mar 30, 2023
HNW RAUM · $13B to $11B
Nov 9, 2022 to Mar 30, 2023
Individual RAUM · $1.7M to $592,952
Nov 9, 2022 to Mar 30, 2023
Non-discretionary RAUM · $228M to $195M
Nov 9, 2022 to Mar 30, 2023
Pooled vehicle RAUM · $3.1B to $2.5B
Nov 9, 2022 to Mar 30, 2023
RAUM · $20B to $17B
Nov 9, 2022 to Mar 30, 2023
Accounts · 3,440 to 3,588
Nov 29, 2021 to Mar 31, 2022
Advisory employees · 48 to 51
Nov 29, 2021 to Mar 31, 2022
Charity clients · 64 to 65
Nov 29, 2021 to Mar 31, 2022
Corporate clients · 54 to 60
Nov 29, 2021 to Mar 31, 2022
HNW clients · 250 to 246
Nov 29, 2021 to Mar 31, 2022
Individual clients · 4.0 to unset
Nov 29, 2021 to Mar 31, 2022
Pooled vehicle clients · 9 to 10
Nov 29, 2021 to Mar 31, 2022
Assets in custody · $18B to $20B
Nov 29, 2021 to Mar 31, 2022
Employees · 84 to 87
Nov 29, 2021 to Mar 31, 2022
State-registered IARs · 30 to 28
Nov 29, 2021 to Mar 31, 2022
Private funds · 32 to 29
Nov 29, 2021 to Mar 31, 2022
Discretionary RAUM · $17B to $20B
Nov 29, 2021 to Mar 31, 2022
HNW RAUM · $12B to $13B
Nov 29, 2021 to Mar 31, 2022
Individual RAUM · $1.9M to $1.7M
Nov 29, 2021 to Mar 31, 2022
Non-discretionary RAUM · $219M to $228M
Nov 29, 2021 to Mar 31, 2022
Pooled vehicle RAUM · $3.0B to $3.1B
Nov 29, 2021 to Mar 31, 2022
RAUM · $18B to $20B
Nov 29, 2021 to Mar 31, 2022
Private funds · 31 to 32
Nov 2, 2021 to Nov 29, 2021
Accounts · 3,462 to 3,440
Jun 30, 2020 to Mar 31, 2021
Advisory employees · 50 to 48
Jun 30, 2020 to Mar 31, 2021
Charity clients · 59 to 64
Jun 30, 2020 to Mar 31, 2021
HNW clients · 262 to 250
Jun 30, 2020 to Mar 31, 2021
Pooled vehicle clients · 10 to 9
Jun 30, 2020 to Mar 31, 2021
Assets in custody · $17B to $18B
Jun 30, 2020 to Mar 31, 2021
Employees · 88 to 84
Jun 30, 2020 to Mar 31, 2021
State-registered IARs · 27 to 30
Jun 30, 2020 to Mar 31, 2021

Signals

27 dated events

F•••••••• R••• B••••• left V•••••••• L• for P•••••••• (registered 2023-09-19)
Sep 18, 2023 · Advisor changed firm · fact
S•••• F••••• P••••••• left V•••••••• L• for P•••••••• (registered 2023-09-19)
Sep 18, 2023 · Advisor changed firm · fact
A•• R••••• P•••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
E•••• L• B•••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
A••••• J••••• J••• left V•••••••• L• for P•••••••• (registered 2023-10-05)
Sep 18, 2023 · Advisor changed firm · fact
B•••• A••••• B•••••• left V•••••••• L• for P•••••••• (registered 2023-09-19)
Sep 18, 2023 · Advisor changed firm · fact
C•••••• P••••• K••••• left V•••••••• L• for P•••••••• (registered 2023-09-22)
Sep 18, 2023 · Advisor changed firm · fact
J•••••• A•••• M••••••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
M•••••• E•••••• T••••• left V•••••••• L• for P•••••••• (registered 2023-09-19)
Sep 18, 2023 · Advisor changed firm · fact
J•••• S••••• W••••• left V•••••••• L• for P•••••••• (registered 2023-09-22)
Sep 18, 2023 · Advisor changed firm · fact
J•••••• A•••• B••••••• left V•••••••• L• for P•••••••• (registered 2023-10-09)
Sep 18, 2023 · Advisor changed firm · fact
P••• R• P••••••••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
B•••• I•• R••••••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
D••••• A••••• B••••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
P•••••• J•••• D•••••••• left V•••••••• L• for P•••••••• (registered 2023-09-27)
Sep 18, 2023 · Advisor changed firm · fact
R••••• D•••• H•••••••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
G••••• F••••••• S•••• left V•••••••• L• for P•••••••• (registered 2023-10-23)
Sep 18, 2023 · Advisor changed firm · fact
R••••• K•••• S•••••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
W••••• D••••• Y••••••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
R••••• M••••• L••••••• left V•••••••• L• for P•••••••• (registered 2023-09-22)
Sep 18, 2023 · Advisor changed firm · fact
D•••• M•••••• B•••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
J•••••••• L•••• K•••••• G•••• left V•••••••• L• for P•••••••• (registered 2023-10-24)
Sep 18, 2023 · Advisor changed firm · fact
J••• J••••• S•••••• left V•••••••• L• for P•••••••• (registered 2023-10-04)
Sep 18, 2023 · Advisor changed firm · fact
E••• S•••• S••••••••• left V•••••••• L• for P•••••••• (registered 2023-09-21)
Sep 18, 2023 · Advisor changed firm · fact
V•••••••• L•'s advisors moved to P•••••••• (Edgemont, PA): 24 of 24 registered, on the same day
Sep 18, 2023 · Firm absorbed (people side) · derived
E•••• W•••••• Y••• left V•••••••• L• for Savvy (registered 2023-08-01)
Aug 3, 2023 · Advisor changed firm · fact
V•••••••• L• reported succeeding to the business of Another Adviser (Form ADV Item 4)
Jul 27, 2012 · Succession (Item 4) · fact

Across DFX

shared identifiers only, never a name match

V•••••••• L• · Private Equity
shared crd · organization

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