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
P•••• C•••••• M••••••••• L••
Legal name P••••••• C•••••• M••••••••• L••
Latest filing Feb 17, 2026
First filing on the tape Nov 22, 2011 · 33 filings
SEC status approved since May 6, 2008
RAUM
$21B
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
44
37 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
33 filings and snapshots on the tape
RAUM$21B as of Feb 17, 2026
Mar 27, 2012$729M then
HNW client RAUM$0 as of Feb 17, 2026
Mar 12, 2018$0 then
State-registered IARs (5.B.3)0 as of Feb 17, 2026
Mar 27, 20120 then
Employees (5.A)44 as of Feb 17, 2026
Mar 28, 201339 then
Private funds2 as of Mar 12, 2018
Mar 27, 20121 then
RAUM +48% over the last fiscal year+15% a year over threeIARs 0 to 0offices 4 to 1
Practice profile
derived from the filing of Feb 17, 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
- $21BderivedRAUM 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
- +48%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 businesses and institutions, portfolio management for pooled vehiclesreportedItem 5.G
- Custody
- $21B, 1 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
- 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)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$21B100%
- Individual clients
- 0reported
- HNW clients
- 0reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 1reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $21B for 1 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 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
2 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| P•••• M••••••• O••••••••• F••• I••••••••• L••no longer reported | Hedge Fund | $11.2M | 22 | Nov 22, 2011 |
| M••••••• O••••••••• ••••••••• F•••• L•••no longer reported | Other Private Fund | $5.7M | 5 | Mar 28, 2016 |
Owners and control persons
Schedule A and B, latest filing
- E•••••• M•••• E••• · Senior Managing Director, Strategic Initiativescontrolsince 10/2024 · owns less than 5%
- J••••• D•••• E••••• · President And Chief M••••••• Banking Officercontrolsince 03/2021 · owns less than 5%
- P••••••• D•••••• S•••••• · Senior Managing Director And Chief Financial Officercontrolsince 01/2021 · owns less than 5%
- S••••••• D••••• A••• · Chairman And Chief Executive Officercontrolsince 03/2008 · owns less than 5%
- S••••• D••••• W•••••• · Senior Managing Director, Chief Legal Officer And Secretarycontrolsince 03/2015 · owns less than 5%
- Z•••••••• D•••••• · Chief Compliance Officercontrolsince 07/2019 · owns less than 5%
Entity owners
- P•••••• N••••••• M••••••• A••••••••• C••••••• L•• · Parent Companydirect · owns 75% or more
- P••••••• F•••••••• S•••••••• I•• · Memberindirect · owns 50% to 75% of P•••••• N••••••• M••••••• A••••••••• C••••••• L•• · public reporting company
- P••••••• F•••••••• S•••••••• I••• · Shareholderindirect · owns 75% or more of P•••• H•••••••• I••• · public reporting company
- P•••• H•••••••• I••• · Memberindirect · owns 25% to 50% of P•••••• N••••••• M••••••• A••••••••• C••••••• L••
Related persons
Schedule D 7.A
- T•••••••• I•••••••• S•••••••• L••real estaten
Advisers that list P•••• C•••••• M••••••••• L•• as a related person
- 164592 n
Offices
Schedule D 1.F, the 25 largest
- Las Vegas, NV5 employees
- Fort Worth, TX3 employees
- Phoenix, AZ2 employees
- Plano, TX1 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- employee count dropChange between filings · filing Feb 17, 2026employees (Item 5.A) moved from 86.0 to 44.0 (-49.0%) between the annual amendments of 2025-03-14 and 2026-02-17; the peer median change was +3.0% (461 comparable advisers, 1.0th percentile of changes)peers: asset managers, $20B and over (461) · 1.3% percentile
- office count dropChange between filings · filing Feb 17, 2026offices other than the principal office (Item 1.F.5) moved from 4.0 to 1.0 (-75.0%) between the annual amendments of 2025-03-14 and 2026-02-17; the peer median change was 0.0% (198 comparable advisers, 0.0th percentile of changes)peers: asset managers, $20B and over (198) · 0.0% percentile
What changed
consecutive filings, newest first
- Advisory employees · 65 to 37Oct 1, 2025 to Feb 17, 2026
- Advisory activities · 1 to 2Oct 1, 2025 to Feb 17, 2026
- Assets in custody · $14B to $21BOct 1, 2025 to Feb 17, 2026
- Employees · 86 to 44Oct 1, 2025 to Feb 17, 2026
- Legal name · P•••• C•••••• M••••••••• L•• to P••••••• C•••••• M••••••••• L••Oct 1, 2025 to Feb 17, 2026
- Other offices · 4 to 1Oct 1, 2025 to Feb 17, 2026
- Discretionary RAUM · $14B to $21BOct 1, 2025 to Feb 17, 2026
- Pooled vehicle RAUM · $14B to $21BOct 1, 2025 to Feb 17, 2026
- RAUM · $14B to $21BOct 1, 2025 to Feb 17, 2026
- Employees · 81 to 86Oct 18, 2024 to Mar 14, 2025
- Advisory employees · 66 to 65Oct 18, 2024 to Mar 14, 2025
- Assets in custody · $13B to $14BOct 18, 2024 to Mar 14, 2025
- Financial planning clients · unset to Oct 18, 2024 to Mar 14, 2025
- Discretionary RAUM · $13B to $14BOct 18, 2024 to Mar 14, 2025
- Pooled vehicle RAUM · $13B to $14BOct 18, 2024 to Mar 14, 2025
- RAUM · $13B to $14BOct 18, 2024 to Mar 14, 2025
- Other offices · 5 to 4Mar 15, 2024 to Oct 18, 2024
- Advisory employees · 52 to 66May 26, 2023 to Mar 15, 2024
- Assets in custody · $14B to $13BMay 26, 2023 to Mar 15, 2024
- Employees · 68 to 81May 26, 2023 to Mar 15, 2024
- Discretionary RAUM · $14B to $13BMay 26, 2023 to Mar 15, 2024
- Pooled vehicle RAUM · $14B to $13BMay 26, 2023 to Mar 15, 2024
- RAUM · $14B to $13BMay 26, 2023 to Mar 15, 2024
- Other offices · 4 to 5Mar 17, 2023 to May 26, 2023
- Advisory employees · 62 to 52Mar 17, 2022 to Mar 15, 2023
- Assets in custody · $14B to $14BMar 17, 2022 to Mar 15, 2023
- Employees · 83 to 68Mar 17, 2022 to Mar 15, 2023
- Discretionary RAUM · $14B to $14BMar 17, 2022 to Mar 15, 2023
- Pooled vehicle RAUM · $14B to $14BMar 17, 2022 to Mar 15, 2023
- RAUM · $14B to $14BMar 17, 2022 to Mar 15, 2023
- Advisory employees · 67 to 62Mar 31, 2021 to Mar 17, 2022
- Assets in custody · $11B to $14BMar 31, 2021 to Mar 17, 2022
- Employees · 88 to 83Mar 31, 2021 to Mar 17, 2022
- Discretionary RAUM · $11B to $14BMar 31, 2021 to Mar 17, 2022
- Pooled vehicle RAUM · $11B to $14BMar 31, 2021 to Mar 17, 2022
- RAUM · $11B to $14BMar 31, 2021 to Mar 17, 2022
- Advisory employees · 49 to 67Mar 25, 2020 to Mar 17, 2021
- Assets in custody · $12B to $11BMar 25, 2020 to Mar 17, 2021
- Employees · 70 to 88Mar 25, 2020 to Mar 17, 2021
- Other offices · 0 to 4Mar 25, 2020 to Mar 17, 2021
Signals
18 dated events
- P•••• C•••••• M••••••••• L•• reported RAUM $21.3B, up 48% from $14.4B (2025-10-01 to 2026-02-17)Feb 17, 2026 · ria raum c••••e · derived
- Herbert Hsi-Tung William Chang (Senior Managing Director And Chief Capital Markets Officer) no longer on Schedule A of P•••• C•••••• M••••••••• L•• (listed 2024-03-15, absent 2024-10-18)Oct 18, 2024 · Control person left · inference
- Evan Mark Elbaum (Senior Managing Director, Strategic Initiatives) appeared on Schedule A of P•••• C•••••• M••••••••• L••Oct 18, 2024 · Control person joined · fact
- Herbert Hsi-Tung William Chang (Senior Managing Director And Chief Investment Officer) appeared on Schedule A of P•••• C•••••• M••••••••• L••Mar 15, 2023 · Control person joined · fact
- Vandad Fartaj (Senior Managing Director And Chief Investment Officer) no longer on Schedule A of P•••• C•••••• M••••••••• L•• (listed 2022-03-17, absent 2023-03-15)Mar 15, 2023 · Control person left · inference
- Sehoon Andrew Chang (Senior Managing Director And Chief Operating Officer) no longer on Schedule A of P•••• C•••••• M••••••••• L•• (listed 2021-03-31, absent 2022-03-17)Mar 17, 2022 · Control person left · inference
- Doug Jones (President And Chief Mortgage Banking Officer) appeared on Schedule A of P•••• C•••••• M••••••••• L••Mar 17, 2021 · Control person joined · fact
- Stanley Daniel Perotti (Senior Managing Director And Chief Financial Officer) appeared on Schedule A of P•••• C•••••• M••••••••• L••Mar 17, 2021 · Control person joined · fact
- Paul Jeffrey Grogin (Senior Managing Director And Chief Enterprise Operations Officer) no longer on Schedule A of P•••• C•••••• M••••••••• L•• (listed 2020-03-25, absent 2021-03-17)Mar 17, 2021 · Control person left · inference
- P•••• C•••••• M••••••••• L•• reported RAUM $11.8B, up 51% from $7.8B (2019-07-15 to 2020-03-25)Mar 25, 2020 · ria raum c••••e · derived
- Vandad Fartaj (Senior Managing Director And Chief Investment Officer) appeared on Schedule A of P•••• C•••••• M••••••••• L••Mar 25, 2020 · Control person joined · fact
- Lee Stanford Kurland (Executive Chairman) no longer on Schedule A of P•••• C•••••• M••••••••• L•• (listed 2019-07-15, absent 2020-03-25)Mar 25, 2020 · Control person left · inference
- Derrick Zandpour (Chief Compliance Officer) appeared on Schedule A of P•••• C•••••• M••••••••• L••Jul 15, 2019 · Control person joined · fact
- Dewey Anne Mccallion (Senior Managing Director And Chief Enterprise Operations Officer) no longer on Schedule A of P•••• C•••••• M••••••••• L•• (listed 2019-03-21, absent 2019-07-15)Jul 15, 2019 · Control person left · inference
- M Jocelyn Dalkin (Chief Compliance Officer) no longer on Schedule A of P•••• C•••••• M••••••••• L•• (listed 2019-03-21, absent 2019-07-15)Jul 15, 2019 · Control person left · inference
- Scott Jonathon Jacobson (Member) no longer on Schedule A of P•••• C•••••• M••••••••• L•• (listed 2018-09-27, absent 2019-03-21)Mar 21, 2019 · Control person left · inference
- P•••• C•••••• M••••••••• L•• reported RAUM $7.8B, up 39% from $5.6B (2018-09-27 to 2019-03-21)Mar 21, 2019 · ria raum c••••e · derived
- P•••• C•••••• M••••••••• L•• reported RAUM $5.9B, up 3187% from $180.0M (2017-03-29 to 2018-01-16)Jan 16, 2018 · ria raum c••••e · 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
- Principal office phone
- (805) 849-3193reportedpublic record, Form ADV, Feb 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
- 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