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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SEC-registered adviser
D•• A•••• M••••••••• L••
Latest filing Mar 30, 2026
First filing on the tape Mar 29, 2012 · 22 filings
SEC status approved since May 3, 2007
RAUM
$645M
reported, Item 5.F
Discretionary
1.7%
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
36
32 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
3
reported on Schedule D
History
22 filings and snapshots on the tape
RAUM$645M as of Mar 30, 2026
Mar 29, 2012$760M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 30, 2026
Mar 18, 20130 then
Employees (5.A)36 as of Mar 30, 2026
Mar 18, 201336 then
Private funds3 as of Mar 30, 2026
Mar 29, 20123 then
RAUM +12% over the last fiscal year+7.5% a year over threeIARs 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
- $129MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 1.7%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +12%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 pooled vehiclesreportedItem 5.G
- Custody
- yesreportedItem 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)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- 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)
- an independent public accountant performs a surprise examination (9.C.1)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$645M100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 5reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $0 for 0 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=true related_bank=false bd_reps=4.0derived
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
5 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| T•• T•••• I••••••••• S••• C••••• F•••• A• S••••••• O• D•• I••••• F•••• S••••• • S•••• S•• | Other Private Fund | $230M | 15 | Mar 24, 2021 |
| D•• I•••••••• F•••••• E••••• F••• I•• A• S••••••• O• D•• F•••• S••••• • S•••• S•• | Private Equity Fund | $31.2M | 7 | Mar 26, 2014 |
| T•• D•• M••••••••• F••• J• A• S••••••• O• D•• I••••• F•••• S••••• • S•••• S••no longer reported | Other Private Fund | $14.4M | 1 | Mar 29, 2012 |
| D•• M••••••••• E••••• F••• I• A• S••••••• O• D•• F•••• S••••• • S•••• S•• | Private Equity Fund | $12.1M | 4 | Mar 29, 2012 |
| T•• D•• M••••••••• F•••• A• S••••••• O• D•• I••••• F•••• S••••• • S•••• S••no longer reported | Other Private Fund | $288,608 | 19 | Mar 29, 2012 |
Owners and control persons
Schedule A and B, latest filing
- J••••••• P••••• H•••••• · Partner, Manager (Relying Adviser)controlsince 10/2006 · owns less than 5%
- M•••••••• E•••••• A•••• · Chief Compliance Officer, Manager (Relying Adviser)controlsince 09/2010 · owns less than 5%
- T•••••••• O••••• D••• · Chief Financial Officercontrolsince 01/2016 · owns less than 5%
- C••••••••• R•••••• P•••• · Partnercontrolsince 01/2023 · owns F of D•• H•••••••• L••
- J••••••• P••••• H•••••• · Membercontrolsince 12/2007 · owns 25% to 50% of D•• H•••••••• L••
- M•••••••• E•••••• A•••• · Partnercontrolsince 09/2010 · owns F of D•• H•••••••• L••
- M••••• C••••••••• F•••••• · Partnercontrolsince 01/2023 · owns F of D•• H•••••••• L••
- R••••••• A•••• · Partnercontrolsince 04/2018 · owns F of D•• H•••••••• L••
- S••••••• J• B•••••• · Membercontrolsince 12/2007 · owns F of D•• H•••••••• L••
- T•••••••• O••••• D••• · Partnercontrolsince 01/2016 · owns F of D•• H•••••••• L••
- W•••••• W••••••• C•••••••• C••••••••• · Partnercontrolsince 04/2018 · owns F of D•• H•••••••• L••
Entity owners
- D•• H•••••••• L•• · Member, Parent (Relying Adviser)direct · owns 75% or more
- D•• H•••••••• L•• · Parentindirect · owns 75% or more of Developing World Finance, LLC; D•• A•••• M••••••••• L••
Related persons
Schedule D 7.A
- D•• F•••••• L••broker-dealern
Offices
Schedule D 1.F, the 25 largest
- Tbilisi, Georgia/Gruzinskaya4 employees
- New York, NY3 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- low discretionary shareStatic outlier · filing Mar 30, 2026discretionary share of RAUM of 2% against a peer median of 100% (784 comparable advisers, 1.0th percentile, 33.2 robust deviations)peers: asset managers, $500M to $1B (784) · 1.4% percentile
What changed
consecutive filings, newest first
- Accounts · 8 to 5Mar 31, 2025 to Mar 30, 2026
- Advisory employees · 28 to 32Mar 31, 2025 to Mar 30, 2026
- Pooled vehicle clients · 8 to 6Mar 31, 2025 to Mar 30, 2026
- Employees · 32 to 36Mar 31, 2025 to Mar 30, 2026
- Discretionary RAUM · $20.2M to $10.7MMar 31, 2025 to Mar 30, 2026
- Non-discretionary RAUM · $554M to $634MMar 31, 2025 to Mar 30, 2026
- Pooled vehicle RAUM · $574M to $645MMar 31, 2025 to Mar 30, 2026
- RAUM · $574M to $645MMar 31, 2025 to Mar 30, 2026
- Advisory employees · 30 to 28Mar 28, 2024 to Mar 31, 2025
- Employees · 35 to 32Mar 28, 2024 to Mar 31, 2025
- Financial planning clients · unset to Mar 28, 2024 to Mar 31, 2025
- Discretionary RAUM · $43.3M to $20.2MMar 28, 2024 to Mar 31, 2025
- Non-discretionary RAUM · $511M to $554MMar 28, 2024 to Mar 31, 2025
- Pooled vehicle RAUM · $555M to $574MMar 28, 2024 to Mar 31, 2025
- RAUM · $555M to $574MMar 28, 2024 to Mar 31, 2025
- Advisory employees · 28 to 30Mar 30, 2023 to Mar 28, 2024
- Employees · 37 to 35Mar 30, 2023 to Mar 28, 2024
- Discretionary RAUM · $39.4M to $43.3MMar 30, 2023 to Mar 28, 2024
- Non-discretionary RAUM · $481M to $511MMar 30, 2023 to Mar 28, 2024
- Pooled vehicle RAUM · $520M to $555MMar 30, 2023 to Mar 28, 2024
- RAUM · $520M to $555MMar 30, 2023 to Mar 28, 2024
- Advisory employees · 26 to 28Nov 2, 2022 to Mar 30, 2023
- Employees · 32 to 37Nov 2, 2022 to Mar 30, 2023
- Other offices · 1 to 2Nov 2, 2022 to Mar 30, 2023
- Discretionary RAUM · $46.6M to $39.4MNov 2, 2022 to Mar 30, 2023
- Non-discretionary RAUM · $444M to $481MNov 2, 2022 to Mar 30, 2023
- Pooled vehicle RAUM · $491M to $520MNov 2, 2022 to Mar 30, 2023
- RAUM · $491M to $520MNov 2, 2022 to Mar 30, 2023
- Accounts · 10 to 8Mar 1, 2022 to Mar 17, 2022
- Advisory employees · 27 to 26Mar 1, 2022 to Mar 17, 2022
- Pooled vehicle clients · 10 to 8Mar 1, 2022 to Mar 17, 2022
- Discretionary RAUM · $64.7M to $46.6MMar 1, 2022 to Mar 17, 2022
- Non-discretionary RAUM · $550M to $444MMar 1, 2022 to Mar 17, 2022
- Pooled vehicle RAUM · $615M to $491MMar 1, 2022 to Mar 17, 2022
- RAUM · $615M to $491MMar 1, 2022 to Mar 17, 2022
- Advisory employees · 23 to 27Mar 28, 2020 to Mar 24, 2021
- Employees · 29 to 32Mar 28, 2020 to Mar 24, 2021
- Discretionary RAUM · $64.3M to $64.7MMar 28, 2020 to Mar 24, 2021
- Non-discretionary RAUM · $452M to $550MMar 28, 2020 to Mar 24, 2021
- Pooled vehicle RAUM · $517M to $615MMar 28, 2020 to Mar 24, 2021
Signals
6 dated events
- P•••• R••••• C••••••••• (Partner) appeared on Schedule A of D•• A•••• M••••••••• L••Mar 30, 2023 · Control person joined · fact
- Francis Christopher Mehan (Partner) appeared on Schedule A of D•• A•••• M••••••••• L••Mar 30, 2023 · Control person joined · fact
- Courtland Churchfiel William Walker (Partner) appeared on Schedule A of D•• A•••• M••••••••• L••Mar 24, 2021 · Control person joined · fact
- Aleem Remtula (Partner) appeared on Schedule A of D•• A•••• M••••••••• L••Mar 24, 2021 · Control person joined · fact
- Dana Odeta Tolliver (Chief Financial Officer) appeared on Schedule A of D•• A•••• M••••••••• L••Mar 31, 2019 · Control person joined · fact
- D•• A•••• M••••••••• L•• reported RAUM $373.1M, up 46% from $255.3M (2017-03-30 to 2018-03-26)Mar 26, 2018 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
- D•• A•••• M••••••••• L•• · Independent Sponsorsshared crd · capital_provider
- D•• A•••• M••••••••• L•• · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Website
- DWMARKETS.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 203-655-5453reportedpublic 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
- Asset manager (funds and pooled vehicles)deriveda 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