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.
SEC-registered adviser
Wharton Business Group, LLC
Latest filing Aug 1, 2026
First filing on the tape May 29, 2012 · 28 filings
SEC status approved since Nov 13, 2009
RAUM
$4.6B
reported, Item 5.F
Discretionary
91%
of RAUM
Private clients
82%
$3.7B individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$1.5B
derived; firm RAUM over IAPD count
Employees
5
3 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
28 filings and snapshots on the tape
RAUM$4.6B as of Aug 1, 2026
May 29, 2012$1.5B then
HNW client RAUM$3.7B as of Aug 1, 2026
Mar 31, 2018$1.7B then
State-registered IARs (5.B.3)3 as of Aug 1, 2026
May 29, 20120 then
Employees (5.A)5 as of Aug 1, 2026
Apr 1, 20137 then
Private funds: no history
RAUM +14% over the last fiscal year+10% a year over threeIARs 3 to 3
Practice profile
derived from the filing of Aug 1, 2026; every figure names its basis
Archetypes, each a printed rule
- UHNW private wealth · private-client share at least 50 percent, HNW at least 90 percent of private-client RAUM, and average HNW client assets at least $10M
- RAUM per advisor
- $1.5BderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 33derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $47.7MderivedHNW RAUM over HNW clients
- Average account
- $13.5MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 91%derivedof RAUM
- Institutional
- 16%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.7derivedItem 5.A over advisors
- Advisors per office
- 1.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +14%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -5.7%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, pension consultingreportedItem 5.G
- 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 an insurance broker or agent (6.A.6)
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$3.7B81%
- Charitable organizations$638M14%
- Corporations and businesses$104M2.3%
- Pension and profit-sharing plans$95.7M2.1%
- Individuals$9.9M0.2%
- Individual clients
- 22reported
- HNW clients
- 78reported
- Pension plan clients
- n/areported
- Charitable clients
- 19reported
- Accounts
- 337reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.82 fund_share=0.0 institutional_share=0.16 related_bd=true related_bank=false bd_reps=0.0derived
Advisors registered through the firm
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Matthew Sullivan Delaney | Malvern, Pa | Dec 23, 2009 | 32 y | 1 |
| Marc Alexander Hembrough | Malvern, Pa | Dec 24, 2009 | 42 y | 1 |
| Billy Joe Webster | Malvern, Pa | Dec 24, 2009 | 37 y | 2 |
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 headcount0 left over 36 months
Left, latest
none on the tape
Joined, latest
- Marc Alexander Hembrough from Fsc Securities CorporationDec 24, 2009 · Other
- Matthew Sullivan Delaney from Fsc Securities CorporationDec 23, 2009 · Other
- Billy Joe Webster from Fsc Securities CorporationMar 4, 2005 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 3 joined from Fsc Securities CorporationJan 7, 2015 · Exton, Pa
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Joe Billy Webster · Chief Compliance Officercontrolsince 09/2009 · owns less than 5%
Entity owners
- Alera Group Inc · Direct Ownerdirect · owns 75% or more
- Alera Group Holdings Inc · Indirect Ownerindirect · owns 75% or more of Alera Group Intermediate Holdings
- Alera Group Intermediate Holdings · Indirect Ownerindirect · owns 75% or more of Alera Group Inc
- Alera Group Ultimate Holidngs · Indirect Ownerindirect · owns 75% or more of Alera Group Holdings Inc
- Genstar Capital Partners · Indirect Ownerindirect · owns 25% to 50% of Genstar X Alera Group Holdings
- Genstar X Alera Group Holdings · Indirect Ownerindirect · owns 25% to 50% of Alera Group Ultimate Holidngs
Related persons
Schedule D 7.A
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Malvern, Pa · principal | 3 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- unusually large average HNW clientStatic outlier · filing Aug 1, 2026HNW RAUM per HNW client of $47,672,833 against a peer median of $3,645,749 (1308 comparable advisers, 99.0th percentile, 21.8 robust deviations)peers: independent wealth managers, $1B to $5B (1,308) · 99% percentile
- very high RAUM per advisorStatic outlier · filing Aug 1, 2026RAUM per registered advisor of $1,522,020,458 against a peer median of $146,413,945 (1221 comparable advisers, 100.0th percentile, 13.9 robust deviations)peers: independent wealth managers, $1B to $5B (1,221) · 100% percentile
What changed
consecutive filings, newest first
- Accounts · 343 to 337Aug 20, 2025 to Mar 24, 2026
- HNW clients · 80 to 78Aug 20, 2025 to Mar 24, 2026
- Individual clients · 26 to 22Aug 20, 2025 to Mar 24, 2026
- Discretionary RAUM · $3.6B to $4.1BAug 20, 2025 to Mar 24, 2026
- HNW RAUM · $3.3B to $3.7BAug 20, 2025 to Mar 24, 2026
- Individual RAUM · $11.1M to $9.9MAug 20, 2025 to Mar 24, 2026
- Non-discretionary RAUM · $392M to $425MAug 20, 2025 to Mar 24, 2026
- Pension RAUM · $84.6M to $95.7MAug 20, 2025 to Mar 24, 2026
- RAUM · $4.0B to $4.6BAug 20, 2025 to Mar 24, 2026
- Related broker-dealer · false to trueJun 26, 2025 to Aug 20, 2025
- Financial planning clients · 51-100 to 51-100Mar 25, 2025 to Jun 26, 2025
- Related adviser · false to trueMar 25, 2025 to Jun 26, 2025
- Accounts · 336 to 343Dec 3, 2024 to Mar 25, 2025
- Charity clients · 18 to 19Dec 3, 2024 to Mar 25, 2025
- HNW clients · 76 to 80Dec 3, 2024 to Mar 25, 2025
- Discretionary RAUM · $3.3B to $3.6BDec 3, 2024 to Mar 25, 2025
- HNW RAUM · $3.0B to $3.3BDec 3, 2024 to Mar 25, 2025
- Individual RAUM · $9.9M to $11.1MDec 3, 2024 to Mar 25, 2025
- Non-discretionary RAUM · $319M to $392MDec 3, 2024 to Mar 25, 2025
- RAUM · $3.7B to $4.0BDec 3, 2024 to Mar 25, 2025
- Accounts · 355 to 336Mar 2, 2023 to Apr 19, 2024
- Corporate clients · 5.0 to unsetMar 2, 2023 to Apr 19, 2024
- HNW clients · 79 to 76Mar 2, 2023 to Apr 19, 2024
- Individual clients · 32 to 26Mar 2, 2023 to Apr 19, 2024
- Pension plan clients · 2.0 to unsetMar 2, 2023 to Apr 19, 2024
- Discretionary RAUM · $3.1B to $3.3BMar 2, 2023 to Apr 19, 2024
- HNW RAUM · $2.8B to $3.0BMar 2, 2023 to Apr 19, 2024
- Individual RAUM · $11.9M to $9.9MMar 2, 2023 to Apr 19, 2024
- Non-discretionary RAUM · $289M to $319MMar 2, 2023 to Apr 19, 2024
- Pension RAUM · $81.0M to $84.6MMar 2, 2023 to Apr 19, 2024
- RAUM · $3.4B to $3.7BMar 2, 2023 to Apr 19, 2024
- Accounts · 345 to 355Mar 24, 2022 to Mar 2, 2023
- HNW clients · 75 to 79Mar 24, 2022 to Mar 2, 2023
- Individual clients · 35 to 32Mar 24, 2022 to Mar 2, 2023
- Pension plan clients · unset to 2.0Mar 24, 2022 to Mar 2, 2023
- Discretionary RAUM · $3.2B to $3.1BMar 24, 2022 to Mar 2, 2023
- HNW RAUM · $2.7B to $2.8BMar 24, 2022 to Mar 2, 2023
- Individual RAUM · $11.3M to $11.9MMar 24, 2022 to Mar 2, 2023
- Non-discretionary RAUM · $288M to $289MMar 24, 2022 to Mar 2, 2023
- Pension RAUM · $94.7M to $81.0MMar 24, 2022 to Mar 2, 2023
Signals
3 dated events
- Alexander Marc Hembrough (Member) no longer on Schedule A of Wharton Business Group, Llc (listed 2022-03-24, absent 2023-03-02)Mar 2, 2023 · Control person left · inference
- Sullivan Matthew Delaney (Member) no longer on Schedule A of Wharton Business Group, Llc (listed 2022-03-24, absent 2023-03-02)Mar 2, 2023 · Control person left · inference
- Wharton Business Group, Llc reported RAUM $3.1B, up 31% from $2.3B (2020-06-26 to 2021-03-01)Mar 1, 2021 · RAUM change · derived
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
- aleragroup.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 484-327-8262reportedpublic record, Form ADV, Aug 1, 2026
- Contact form
- aleragroup.com/form/contact-usreportedpublished by the firm, firm site, Sep 17, 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
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $1.5Bderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026