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
Narwhal Capital Management
Wealth manager with institutional or fund businessMarietta, GeorgiaCRD 135958SEC 801-66563websiteIAPD
Legal name Narwhal Capital Managment, LLC
Latest filing Aug 31, 2026
First filing on the tape Nov 9, 2011 · 54 filings
SEC status approved since May 2, 2006
RAUM
$2.1B
reported, Item 5.F
Discretionary
94%
of RAUM
Private clients
46%
$961M individuals and HNW
Advisors
11
registered through the firm on IAPD
RAUM per advisor
$189M
derived; firm RAUM over IAPD count
Employees
18
12 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
54 filings and snapshots on the tape
RAUM$2.1B as of Aug 31, 2026
Mar 14, 2012$432M then
HNW client RAUM$901M as of Aug 31, 2026
Mar 22, 2018$375M then
State-registered IARs (5.B.3)12 as of Aug 31, 2026
Mar 14, 20120 then
Employees (5.A)18 as of Aug 31, 2026
Mar 13, 20133 then
Private funds1 as of Feb 28, 2024
Mar 14, 20121 then
RAUM +18% over the last fiscal year+17% a year over threeIARs 11 to 12
Practice profile
derived from the filing of Aug 31, 2026; every figure names its basis
- RAUM per advisor
- $189MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 30derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $8.1MderivedHNW RAUM over HNW clients
- Average account
- $2.5MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 94%derivedof RAUM
- Institutional
- 3.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.6derivedItem 5.A over advisors
- Advisors per office
- 11.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +18%derivedbetween the last two annual amendments
- Advisor growth, one year
- +9.1%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +9.9%derived
- Compensation
- percentage of assets, hourlyreportedItem 5.E
- Advisory activities
- financial planning, 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
- Corporations and businesses$1.0B50%
- High-net-worth individuals$901M43%
- Charitable organizations$79.9M3.8%
- Individuals$59.5M2.9%
- Individual clients
- 223reported
- HNW clients
- 111reported
- Pension plan clients
- n/areported
- Charitable clients
- 12reported
- Accounts
- 850reported
- Financial planning clients
- 11-25reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, hourlyreported
- Class basis
- private_client_share=0.46 fund_share=0.0 institutional_share=0.04 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
11 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Matthew Doran BurtonChartered Financial Analyst | Marietta, Ga | Aug 10, 2005 | 21 y | 0 |
| Andrew David Hall | Marietta, Ga | Jun 11, 2012 | 15 y | 0 |
| Benjamin John NyeChartered Financial Analyst | Marietta, Ga | Jul 22, 2016 | 14 y | 1 |
| Samuel Timothy FrostChartered Financial Analyst | Marietta, Ga | Dec 1, 2016 | 10 y | 0 |
| Thomas H. Russell | Marietta, Ga | Oct 12, 2018 | 16 y | 4 |
| Harrison Rider Pettigrew | Marietta, Ga | Nov 1, 2022 | 11 y | 0 |
| Mohammed Ghulam-Reza | Marietta, Ga | Apr 28, 2023 | 11 y | 0 |
| Harrison David FishCertified Financial Planner | Marietta, Ga | Sep 9, 2024 | 12 y | 0 |
| Ryan John Thomas Miller | Marietta, Ga | Feb 17, 2025 | 10 y | 1 |
| David Edward Hale | Marietta, Ga | Jul 18, 2025 | 17 y | 0 |
| Thomas James Klecker | Marietta, Ga | Aug 20, 2026 | 10 y | 0 |
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
- Sarah Haynes to Omnistar Financial Group, Inc.Apr 20, 2016 · Other
- Macarther Royster Plumart to Mrp Capital Investments, LLCMar 2, 2013 · Other
Joined, latest
- Thomas H. Russell from Peachcap Tax & Advisory, LLCOct 12, 2018 · RIA to RIA
- Benjamin John Nye from J.P. Capital Management, Inc.Jul 22, 2016 · Other
- Macarther Royster Plumart from Merrill Lynch, Pierce, Fenner & Smith IncorporatedJul 7, 2005 · Other
Private funds
1 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Sailfish Fund, LLCno longer reported | Hedge Fund | $16.3M | 10 | Mar 14, 2012 |
Owners and control persons
Schedule A and B, latest filing
- Doran Matthew Burton · Managing Member And Foundercontrolsince 05/2005 · owns 75% or more
- David Andrew Hall · Presidentcontrolsince 01/2017 · owns less than 5%
- Moor Jonathan Hicks · Chief Compliance Officercontrolsince 01/2021 · owns less than 5%
Related persons
Schedule D 7.A
- Donald Skolainsurancey
- Jonathan Mckayinsurancey
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Marietta, Ga · principal | 11 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 748 to 850Jan 8, 2026 to Feb 27, 2026
- Advisory employees · 11 to 12Jan 8, 2026 to Feb 27, 2026
- Charity clients · 9 to 12Jan 8, 2026 to Feb 27, 2026
- Corporate clients · 21 to 19Jan 8, 2026 to Feb 27, 2026
- HNW clients · 98 to 111Jan 8, 2026 to Feb 27, 2026
- Individual clients · 206 to 223Jan 8, 2026 to Feb 27, 2026
- Pension plan clients · 0.0 to unsetJan 8, 2026 to Feb 27, 2026
- Pooled vehicle clients · 0.0 to unsetJan 8, 2026 to Feb 27, 2026
- Employees · 20 to 18Jan 8, 2026 to Feb 27, 2026
- State-registered IARs · 11 to 12Jan 8, 2026 to Feb 27, 2026
- Discretionary RAUM · $1.6B to $2.0BJan 8, 2026 to Feb 27, 2026
- HNW RAUM · $755M to $901MJan 8, 2026 to Feb 27, 2026
- Individual RAUM · $59.5M to $59.5MJan 8, 2026 to Feb 27, 2026
- Non-discretionary RAUM · $118M to $126MJan 8, 2026 to Feb 27, 2026
- Pension RAUM · 0.0 to unsetJan 8, 2026 to Feb 27, 2026
- Pooled vehicle RAUM · 0.0 to unsetJan 8, 2026 to Feb 27, 2026
- RAUM · $1.8B to $2.1BJan 8, 2026 to Feb 27, 2026
- Financial planning clients · 11-25 to 11-25Apr 1, 2025 to Jul 24, 2025
- Accounts · 676 to 748Oct 28, 2024 to Apr 1, 2025
- Advisory activities · 5 to 4Oct 28, 2024 to Apr 1, 2025
- Corporate clients · 16 to 21Oct 28, 2024 to Apr 1, 2025
- HNW clients · 88 to 98Oct 28, 2024 to Apr 1, 2025
- Individual clients · 197 to 206Oct 28, 2024 to Apr 1, 2025
- Pooled vehicle clients · 1 to 0Oct 28, 2024 to Apr 1, 2025
- Assets in custody · 16283234.0 to unsetOct 28, 2024 to Apr 1, 2025
- Custody of client assets · true to falseOct 28, 2024 to Apr 1, 2025
- Private funds · 1 to unsetOct 28, 2024 to Apr 1, 2025
- Discretionary RAUM · $1.4B to $1.6BOct 28, 2024 to Apr 1, 2025
- HNW RAUM · $628M to $755MOct 28, 2024 to Apr 1, 2025
- Individual RAUM · $44.1M to $59.5MOct 28, 2024 to Apr 1, 2025
- Non-discretionary RAUM · $171M to $118MOct 28, 2024 to Apr 1, 2025
- Pooled vehicle RAUM · $16.3M to $0Oct 28, 2024 to Apr 1, 2025
- RAUM · $1.6B to $1.8BOct 28, 2024 to Apr 1, 2025
- Accounts · 618 to 676Dec 5, 2023 to Feb 28, 2024
- Advisory employees · 10 to 11Dec 5, 2023 to Feb 28, 2024
- Charity clients · 5 to 9Dec 5, 2023 to Feb 28, 2024
- Corporate clients · 12 to 16Dec 5, 2023 to Feb 28, 2024
- HNW clients · 80 to 88Dec 5, 2023 to Feb 28, 2024
- Individual clients · 182 to 197Dec 5, 2023 to Feb 28, 2024
- Assets in custody · $13.7M to $16.3MDec 5, 2023 to Feb 28, 2024
Signals
2 dated events
- Moor Jonathan Hicks (Chief Compliance Officer) appeared on Schedule A of Narwhal Capital ManagementMar 30, 2021 · Control person joined · fact
- Narwhal Capital Management reported RAUM $952.0M, up 28% from $742.9M (2019-07-29 to 2020-03-17)Mar 17, 2020 · 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
- Business phone
- 770-344-0175reportedpublished by the firm, firm site, Sep 17, 2026
- Business phone
- 770-344-0172reportedpublished by the firm, firm site, Sep 17, 2026
- Firm profile
- linkedin.com/company/narwhal-capital-managementreportedpublic record, Form ADV, Sep 17, 2026
- Website
- narwhal.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- (770) 344-0172reportedpublic record, Form ADV, Aug 31, 2026
- Contact form
- narwhal.com/contactreportedpublished 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
- Wealth manager with institutional or fund businessderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $189Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026