DFX Intelligence

RIA Intelligence

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Former SEC-registered adviser

S•••••••• A••••••••• L••

Former SEC-registered adviserNew York, New YorkCRD 134535SEC 801-64056IAPD

Latest filing Sep 3, 2021

First filing on the tape Feb 10, 2012 · 33 filings

RAUM

$80.0M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

0.0%

$0 individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

n/a

derived; firm RAUM over IAPD count

Employees

3 advisory (5.B.1)

Offices

beyond the principal office

Private funds

$80.0M gross assets

History

33 filings and snapshots on the tape

RAUM$187M as of Mar 31, 2021

Mar 23, 2012$304M then

HNW client RAUM$13.9M as of Mar 31, 2021

Mar 29, 2018$10.4M then

State-registered IARs (5.B.3)0 as of Mar 31, 2021

Mar 12, 20130 then

Employees (5.A)6 as of Mar 31, 2021

Mar 12, 20136 then

Private funds4 as of Mar 31, 2021

Mar 23, 20123 then

RAUM -61% over the last fiscal year-24% a year over threeIARs 0 to 0

Practice profile

derived from the filing of Sep 3, 2021; 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: unknownderivedHNW RAUM over HNW clients
Average account: $20.0MderivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: unknownderivedItem 5.A over advisors
Advisors per office: unknownderived1 offices incl. principal (1.F.5)
RAUM growth, one year: -9.8%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, performance-basedreportedItem 5.E
Advisory activities: portfolio management for individuals, portfolio management for pooled vehiclesreportedItem 5.G
Custody: $83.0M, 5 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)
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)
a related person has custody of client cash (9.B.1.a)
a related person has custody of client securities (9.B.1.b)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Pooled investment vehicles$80.0M100%

Individual clients: n/areported
HNW clients: 22reported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 4reported
Financial planning clients: n/areported
Wrap fee programs: noreported
Custody of client assets: $83.0M for 5 clientsreported
Compensation: % of AUM, performancereported
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

Every departure Every arrival

Private funds

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

Fund	Type	Gross assets	Owners	First reported
S•••••••• S•••••• O••••••••• F••• ••••••••• S••	Hedge Fund	$53.4M	13	Sep 20, 2018
S•••••••• S•••••• O••••••••• F••• L•no longer reported	Hedge Fund	$28.7M	11	Mar 31, 2017
C••••••••• P••••••• N•• Y•••• D•••• C••••••••• P•••••••	Hedge Fund	$16.2M	8	Feb 10, 2012
L••••••• P••••••• B• L•••	Hedge Fund	$10.5M	12	Feb 10, 2012
S••• L•no longer reported	Hedge Fund	$4.5M	7	Mar 31, 2014
A••• L••••••••• F••• L•no longer reported	Hedge Fund	$2.3M	9	Mar 21, 2012
A••• O••••••• L••••••••• F••• L•••no longer reported	Hedge Fund	$2.1M	0	Mar 21, 2012
D••• P••••••• I• L•	Hedge Fund	$22,566	16	Mar 21, 2012
S•••••••• C••••••• L•no longer reported	Hedge Fund	$0	0	Mar 31, 2014
C••••••••• B••••••••• P•••••••• L•••no longer reported	Hedge Fund	$0	0	Feb 10, 2012

Owners and control persons

Schedule A and B, latest filing

A•••• J••••• N•••••••• · Chief Executive Officercontrol
since 03/2016 · owns less than 5%
L••••• J•••• K•••• · Chief Financial Officercontrol
since 01/2018 · owns less than 5%
T•••••••• J••••• · Chief Compliance Officercontrol
since 06/2021 · owns less than 5%
W••••••• A•••••• M•••••• · Partnercontrol
since 03/2016 · owns less than 5%
A•••• J••••• N•••••••• · Membercontrol
since 11/2013 · owns 75% or more of A••• I••••••••• M••••••••• L••
W••••••• A•••••• M•••••• · Membercontrol
since 03/2016 · owns F of S•••••••• A•••• M••••••••• L••
K••••• B••••• A••••• · Director
since 11/2013 · owns less than 5%

Entity owners

S•••••••• A•••• M••••••••• L•• · Member
direct · owns 75% or more
A••• I••••••••• M••••••••• L•• · Member
indirect · owns 75% or more of S•••••••• A•••• M••••••••• L••

Related persons

Schedule D 7.A

A••• F••• M••••••••• L••
pooled vehicle sponsorn
C••••••••• G• L••
pooled vehicle sponsorn
L••••••• B• G• L••
pooled vehicle sponsorn
S•••••••• S•••••• O••••••••• G• L••
pooled vehicle sponsorn

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

What changed

consecutive filings, newest first

Accounts · 40 to 4
Jul 1, 2021 to Sep 3, 2021
Discretionary RAUM · $187M to $80.0M
Jul 1, 2021 to Sep 3, 2021
HNW RAUM · 13887715.0 to unset
Jul 1, 2021 to Sep 3, 2021
RAUM · $187M to $80.0M
Jul 1, 2021 to Sep 3, 2021
Accounts · 43 to 40
Sep 3, 2020 to Mar 31, 2021
HNW clients · 23 to 22
Sep 3, 2020 to Mar 31, 2021
Pooled vehicle clients · 5 to 4
Sep 3, 2020 to Mar 31, 2021
Discretionary RAUM · $207M to $187M
Sep 3, 2020 to Mar 31, 2021
HNW RAUM · $17.6M to $13.9M
Sep 3, 2020 to Mar 31, 2021
Pooled vehicle RAUM · $83.0M to $80.0M
Sep 3, 2020 to Mar 31, 2021
RAUM · $207M to $187M
Sep 3, 2020 to Mar 31, 2021
Accounts · 44 to 43
Mar 29, 2019 to Mar 26, 2020
Assets in custody · $71.0M to $83.0M
Mar 29, 2019 to Mar 26, 2020
Discretionary RAUM · $183M to $207M
Mar 29, 2019 to Mar 26, 2020
HNW RAUM · $16.6M to $17.6M
Mar 29, 2019 to Mar 26, 2020
Pooled vehicle RAUM · $71.0M to $83.0M
Mar 29, 2019 to Mar 26, 2020
RAUM · $183M to $207M
Mar 29, 2019 to Mar 26, 2020
Accounts · 32 to 44
Sep 20, 2018 to Mar 29, 2019
Advisory employees · 4 to 3
Sep 20, 2018 to Mar 29, 2019
HNW clients · 15 to 23
Sep 20, 2018 to Mar 29, 2019
Pooled vehicle clients · 4 to 5
Sep 20, 2018 to Mar 29, 2019
Assets in custody · $78.7M to $71.0M
Sep 20, 2018 to Mar 29, 2019
Employees · 7 to 6
Sep 20, 2018 to Mar 29, 2019
Discretionary RAUM · $182M to $183M
Sep 20, 2018 to Mar 29, 2019
HNW RAUM · $10.4M to $16.6M
Sep 20, 2018 to Mar 29, 2019
Pooled vehicle RAUM · $78.7M to $71.0M
Sep 20, 2018 to Mar 29, 2019
RAUM · $182M to $183M
Sep 20, 2018 to Mar 29, 2019
Accounts · 14 to 32
Nov 30, 2017 to Mar 29, 2018
HNW clients · unset to 15.0
Nov 30, 2017 to Mar 29, 2018
Pooled vehicle clients · unset to 4.0
Nov 30, 2017 to Mar 29, 2018
Assets in custody · $66.2M to $78.7M
Nov 30, 2017 to Mar 29, 2018
Employees · 8 to 7
Nov 30, 2017 to Mar 29, 2018
Private funds · 6 to 4
Nov 30, 2017 to Mar 29, 2018
Discretionary RAUM · $116M to $182M
Nov 30, 2017 to Mar 29, 2018
HNW RAUM · unset to 10396664.0
Nov 30, 2017 to Mar 29, 2018
Pooled vehicle RAUM · unset to 78657392.0
Nov 30, 2017 to Mar 29, 2018
RAUM · $116M to $182M
Nov 30, 2017 to Mar 29, 2018
Related adviser · true to false
Nov 30, 2017 to Mar 29, 2018
Other offices · unset to 0.0
Aug 14, 2017 to Oct 9, 2017
Accounts · 6 to 14
Nov 16, 2016 to Mar 31, 2017

Signals

5 dated events

S•••••••• A••••••••• L•• reported RAUM $80.0M, down 57% from $186.9M (2021-07-01 to 2021-09-03)
Sep 3, 2021 · RAUM change · derived
Joseph J••• Mcnulty (Chief Compliance Officer) no longer on Schedule A of S•••••••• A••••••••• L•• (listed 2021-06-01, absent 2021-07-01)
Jul 1, 2021 · Control person left · inference
Joseph Tropeano (Chief Compliance Officer) appeared on Schedule A of S•••••••• A••••••••• L••
Jul 1, 2021 · Control person joined · fact
Joseph J••• Mcnulty (Chief Compliance Officer) appeared on Schedule A of S•••••••• A••••••••• L••
Sep 3, 2020 · Control person joined · fact
Joseph Michael Panzner (Chief Compliance Officer / Chief Operating Officer) no longer on Schedule A of S•••••••• A••••••••• L•• (listed 2020-06-18, absent 2020-07-15)
Jul 15, 2020 · Control person left · inference

Across DFX

shared identifiers only, never a name match

S•••••••• A••••••••• 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