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.

Former SEC-registered adviser

Aspen Partners, Ltd.

Former SEC-registered adviserAtlanta, GeorgiaCRD 135287SEC 801-64581IAPD
Latest filing Apr 28, 2020
First filing on the tape Mar 16, 2012 · 25 filings
RAUM
$7.5M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
4
4 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
1
$7.5M gross assets
History
25 filings and snapshots on the tape
RAUM$7.5M as of Mar 24, 2020
Mar 16, 2012$166M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 24, 2020
Mar 16, 20120 then
Employees (5.A)4 as of Mar 24, 2020
Mar 21, 20137 then
Private funds1 as of Mar 24, 2020
Apr 1, 20191 then
RAUM -93% over the last fiscal year-69% a year over threeIARs 0 to 0offices 2 to 1
Practice profile
derived from the filing of Apr 28, 2020; 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
$7.5MderivedRAUM 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
unknownderived2 offices incl. principal (1.F.5)
RAUM growth, one year
-93%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 assetsreportedItem 5.E
Advisory activities
portfolio management for pooled vehiclesreportedItem 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
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • 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$7.5M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
1reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUMreported
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
Joined, latest
Private funds
1 reported on Schedule D 7.B.(1)
FundTypeGross assetsOwnersFirst reported
Contractual Income FundOther Private Fund$7.5M14Sep 5, 2018
Owners and control persons
Schedule A and B, latest filing
  • Ware William Bush · Directorcontrol
    since 06/2007 · owns 50% to 75%
  • Robert Bryan Fisher · Directorcontrol
    since 06/2007 · owns 50% to 75%
  • Holland Deborah Terry · Chief Financial Officercontrol
    since 09/2009 · owns less than 5%
  • Davis George Vick · Chief Compliance Officercontrol
    since 02/2020 · owns less than 5%
Related persons
Schedule D 7.A
Offices
Schedule D 1.F, the 25 largest
  • Richmond, VA2 employees
What changed
consecutive filings, newest first
  • Accounts · 3 to 1
    Feb 20, 2020 to Mar 24, 2020
  • Advisory activities · 2 to 1
    Feb 20, 2020 to Mar 24, 2020
  • Employees · 7 to 4
    Feb 20, 2020 to Mar 24, 2020
  • Discretionary RAUM · $107M to $7.5M
    Feb 20, 2020 to Mar 24, 2020
  • Pooled vehicle RAUM · $7.5M to $7.5M
    Feb 20, 2020 to Mar 24, 2020
  • RAUM · $107M to $7.5M
    Feb 20, 2020 to Mar 24, 2020
  • HQ city · RICHMOND to ATLANTA
    Apr 1, 2019 to Feb 20, 2020
  • HQ state · VA to GA
    Apr 1, 2019 to Feb 20, 2020
  • Other offices · 2 to 1
    Apr 1, 2019 to Feb 20, 2020
  • Accounts · 5 to 3
    Jan 24, 2019 to Apr 1, 2019
  • State-registered IARs · 1 to 0
    Jan 24, 2019 to Apr 1, 2019
  • Discretionary RAUM · $141M to $107M
    Jan 24, 2019 to Apr 1, 2019
  • Pooled vehicle RAUM · $7.4M to $7.5M
    Jan 24, 2019 to Apr 1, 2019
  • RAUM · $141M to $107M
    Jan 24, 2019 to Apr 1, 2019
  • Pooled vehicle RAUM · unset to 7410657.0
    Sep 5, 2018 to Jan 24, 2019
  • Accounts · 4 to 5
    Mar 30, 2018 to Sep 5, 2018
  • Advisory activities · 1 to 2
    Mar 30, 2018 to Sep 5, 2018
  • Pooled vehicle clients · unset to 1.0
    Mar 30, 2018 to Sep 5, 2018
  • Private funds · unset to 1
    Mar 30, 2018 to Sep 5, 2018
  • Discretionary RAUM · $149M to $141M
    Mar 30, 2018 to Sep 5, 2018
  • RAUM · $149M to $141M
    Mar 30, 2018 to Sep 5, 2018
  • Accounts · 2 to 4
    Feb 25, 2018 to Mar 30, 2018
  • Advisory employees · 5 to 4
    Feb 25, 2018 to Mar 30, 2018
  • Employees · 9 to 7
    Feb 25, 2018 to Mar 30, 2018
  • Discretionary RAUM · $145M to $149M
    Feb 25, 2018 to Mar 30, 2018
  • RAUM · $145M to $149M
    Feb 25, 2018 to Mar 30, 2018
  • Accounts · 4 to 2
    Feb 24, 2018 to Feb 25, 2018
  • Discretionary RAUM · $249M to $145M
    Feb 24, 2018 to Feb 25, 2018
  • RAUM · $249M to $145M
    Feb 24, 2018 to Feb 25, 2018
  • BD registered reps · 6 to 4
    Sep 14, 2017 to Feb 24, 2018
  • Employees · 11 to 9
    Sep 14, 2017 to Feb 24, 2018
  • State-registered IARs · 3 to 1
    Sep 14, 2017 to Feb 24, 2018
  • Other offices · unset to 2.0
    Sep 14, 2017 to Feb 24, 2018
  • Accounts · 2 to 4
    Sep 2, 2016 to Mar 29, 2017
  • Advisory employees · 4 to 5
    Sep 2, 2016 to Mar 29, 2017
  • BD registered reps · 4 to 6
    Sep 2, 2016 to Mar 29, 2017
  • Employees · 7 to 11
    Sep 2, 2016 to Mar 29, 2017
  • State-registered IARs · 1 to 3
    Sep 2, 2016 to Mar 29, 2017
  • Discretionary RAUM · $296M to $249M
    Sep 2, 2016 to Mar 29, 2017
  • RAUM · $296M to $249M
    Sep 2, 2016 to Mar 29, 2017
Signals
3 dated events
  • Davis George Vick (Chief Compliance Officer) appeared on Schedule A of Aspen Partners, Ltd.
    Mar 24, 2020 · Control person joined · fact
  • Brian Howard Landers (Chief Compliance Officer) no longer on Schedule A of Aspen Partners, Ltd. (listed 2020-02-20, absent 2020-03-24)
    Mar 24, 2020 · Control person left · inference
  • Aspen Partners, Ltd. reported RAUM $145.0M, down 42% from $248.8M (2018-02-24 to 2018-02-25)
    Feb 25, 2018 · 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.
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