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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Latest filing Mar 30, 2026
First filing on the tape Mar 30, 2012 · 17 filings
SEC status approved since Jul 15, 2005
RAUM
$0
reported, Item 5.F
Discretionary
n/a
of RAUM
Private clients
n/a
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
0
0 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
17 filings and snapshots on the tape
RAUM$0 as of Mar 30, 2026
Mar 30, 2012$935M then
HNW client RAUM$0 as of Mar 30, 2026
Mar 23, 2018$0 then
State-registered IARs (5.B.3)0 as of Mar 30, 2026
Mar 30, 20120 then
Employees (5.A)0 as of Mar 30, 2026
Mar 28, 20131 then
Private funds: no history
RAUM n/a over the last fiscal yearIARs 0 to 0
Practice profile
derived from the filing of Mar 30, 2026; 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
- unknownderivedRAUM over accounts (5.F.2.f)
- Discretionary
- unknownderivedof RAUM
- Institutional
- unknownderivedpensions, 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
- unknownderivedbetween 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, hourly, fixed feesreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, 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
- 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
This filing has no Item 5.D breakdown (filings before 2017 reported ranges, not amounts).
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 0reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
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
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- C••••••••• L•••• L••• · Chief Compliance Officercontrolsince 07/2023 · owns less than 5%
- Z••••• C••••••• C•••• · Managing Membercontrolsince 07/2023 · owns less than 5%
- Z••••• C••••••• C•••• · Ownercontrolsince 07/2023 · owns 75% or more of M••••• C•••••• H••••••• L••
Entity owners
- M••••• C•••••• H••••••• L•• · Ownerdirect · owns 75% or more
Related persons
Schedule D 7.A
- Z•••• F••••••••investment advisernRAUM $8.4B
Advisers that list M••••• C•••••• L•• as a related person
- 159257 n
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- affiliate changedChange between filings · filing Mar 30, 2026insurance affiliate (Item 7.A.10): no on the filing of 2025-03-06, yes on the filing of 2026-03-30peers: other advisers, under $100M (671)
What changed
consecutive filings, newest first
- Related insurance company · false to trueMar 6, 2025 to Mar 30, 2026
- Financial planning clients · 0 to 0Mar 28, 2024 to Mar 6, 2025
- HQ city · unset to Mar 28, 2024 to Mar 6, 2025
- HQ state · unset to Mar 28, 2024 to Mar 6, 2025
- Accounts · 8 to 0Jul 18, 2023 to Mar 28, 2024
- Advisory employees · 2 to 0Jul 18, 2023 to Mar 28, 2024
- Charity clients · 4.0 to unsetJul 18, 2023 to Mar 28, 2024
- Employees · 3 to 0Jul 18, 2023 to Mar 28, 2024
- State-registered IARs · 1 to 0Jul 18, 2023 to Mar 28, 2024
- Discretionary RAUM · $28.3M to $0Jul 18, 2023 to Mar 28, 2024
- Non-discretionary RAUM · $1.7B to $0Jul 18, 2023 to Mar 28, 2024
- RAUM · $1.7B to $0Jul 18, 2023 to Mar 28, 2024
- Advisory employees · 1 to 2Feb 12, 2023 to Jul 18, 2023
- Employees · 1 to 3Feb 12, 2023 to Jul 18, 2023
- Related adviser · false to trueFeb 12, 2023 to Jul 18, 2023
- Discretionary RAUM · $33.4M to $28.3MMar 25, 2022 to Feb 12, 2023
- Non-discretionary RAUM · $2.0B to $1.7BMar 25, 2022 to Feb 12, 2023
- RAUM · $2.0B to $1.7BMar 25, 2022 to Feb 12, 2023
- Charity clients · 5 to 4Mar 8, 2021 to Mar 25, 2022
- Discretionary RAUM · $0 to $33.4MMar 8, 2021 to Mar 25, 2022
- Non-discretionary RAUM · $1.7B to $2.0BMar 8, 2021 to Mar 25, 2022
- RAUM · $1.7B to $2.0BMar 8, 2021 to Mar 25, 2022
- Accounts · 7 to 8Mar 20, 2020 to Mar 8, 2021
- Charity clients · unset to 5.0Mar 20, 2020 to Mar 8, 2021
- Non-discretionary RAUM · $1.5B to $1.7BMar 20, 2020 to Mar 8, 2021
- RAUM · $1.5B to $1.7BMar 20, 2020 to Mar 8, 2021
- Accounts · 8 to 7Mar 27, 2019 to Mar 20, 2020
- Non-discretionary RAUM · $1.5B to $1.5BMar 27, 2019 to Mar 20, 2020
- RAUM · $1.5B to $1.5BMar 27, 2019 to Mar 20, 2020
- Accounts · 7 to 8Mar 23, 2018 to Mar 27, 2019
- Non-discretionary RAUM · $1.5B to $1.5BMar 23, 2018 to Mar 27, 2019
- RAUM · $1.5B to $1.5BMar 23, 2018 to Mar 27, 2019
- Accounts · 29 to 7Mar 31, 2017 to Mar 23, 2018
- Other offices · unset to 0.0Mar 31, 2017 to Mar 23, 2018
- HNW RAUM · unset to 0.0Mar 31, 2017 to Mar 23, 2018
- Individual RAUM · unset to 0.0Mar 31, 2017 to Mar 23, 2018
- Non-discretionary RAUM · $1.4B to $1.5BMar 31, 2017 to Mar 23, 2018
- Pension RAUM · unset to 0.0Mar 31, 2017 to Mar 23, 2018
- Pooled vehicle RAUM · unset to 0.0Mar 31, 2017 to Mar 23, 2018
- RAUM · $1.4B to $1.5BMar 31, 2017 to Mar 23, 2018
Signals
4 dated events
- M••••• C•••••• L•• reported RAUM $0, down 100% from $1.7B (2023-07-18 to 2024-03-28)Mar 28, 2024 · RAUM change · derived
- Cheng Charles Zhang (Managing Member) appeared on Schedule A of M••••• C•••••• L••Jul 18, 2023 · Control person joined · fact
- Ling Lynn Chen-Zhang (Chief Compliance Officer) appeared on Schedule A of M••••• C•••••• L••Jul 18, 2023 · Control person joined · fact
- Chris Ruppel (President And Chief Compliance Officer) no longer on Schedule A of M••••• C•••••• L•• (listed 2023-02-12, absent 2023-07-18)Jul 18, 2023 · Control person left · inference
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
- zhangfinancial.com/merion-capitalreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 269-385-5888reportedpublic record, Form ADV, Mar 30, 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
- No RAUM reportedderiveda 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