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

A•••••••••

Asset manager (funds and pooled vehicles)Bethesda, MarylandCRD 149782SEC 801-70457websiteIAPD
Legal name A••••••••• I••••••••• L••
Latest filing Mar 12, 2026
First filing on the tape Jan 19, 2012 · 26 filings
SEC status approved since Aug 4, 2009
RAUM
$1.7B
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
11
5 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
26 filings and snapshots on the tape
RAUM$1.7B as of Mar 12, 2026
Jan 19, 2012$403M then
HNW client RAUM: no history
State-registered IARs (5.B.3)1 as of Mar 12, 2026
Jan 19, 20120 then
Employees (5.A)11 as of Mar 12, 2026
Jan 8, 201312 then
Private funds: no history
RAUM +45% over the last fiscal year+11% a year over threeIARs 1 to 1
Practice profile
derived from the filing of Mar 12, 2026; every figure names its basis
Archetypes, each a printed rule
  • Solo or small team · one advisor, or a wealth manager with up to three advisors and one office
RAUM per advisor
$1.7BderivedRAUM 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
$95.7MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
11.0derivedItem 5.A over advisors
Advisors per office
1.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+45%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
portfolio management for investment companiesreportedItem 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)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Investment companies$1.7B100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
18reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUMreported
Class basis
private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false 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
      No private fund reported.
      Owners and control persons
      Schedule A and B, latest filing
      • A•••••• D•••••• S••••• · Managing Director, Coo, Ciocontrol
        since 11/2008 · owns less than 5%
      • C•••• J••••• E••••• · Managing Directorcontrol
        since 06/2013 · owns less than 5%
      • H•••••• N••• · Chief Executive Officercontrol
        since 10/2006 · owns less than 5%
      • L•••••• S•••••••• J••• · Chief Compliance Officercontrol
        since 08/2013 · owns less than 5%
      • H•••••• N••• · Managing Membercontrol
        since 09/2008 · owns 75% or more of W••••• L••• G••••• L••
      Entity owners
      • W••••• L••• G••••• L•• · Member
        direct · owns 75% or more
      Related persons
      Schedule D 7.A
      • S••••••• J• L•••••
        y
      Advisers that list A••••••••• as a related person
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Accounts · 17 to 18
        Mar 25, 2025 to Mar 12, 2026
      • Employees · 10 to 11
        Mar 25, 2025 to Mar 12, 2026
      • Discretionary RAUM · $1.2B to $1.7B
        Mar 25, 2025 to Mar 12, 2026
      • RAUM · $1.2B to $1.7B
        Mar 25, 2025 to Mar 12, 2026
      • Advisory employees · 4 to 5
        Mar 21, 2024 to Mar 25, 2025
      • BD registered reps · 5 to 4
        Mar 21, 2024 to Mar 25, 2025
      • Employees · 9 to 10
        Mar 21, 2024 to Mar 25, 2025
      • Financial planning clients · unset to
        Mar 21, 2024 to Mar 25, 2025
      • Discretionary RAUM · $1.2B to $1.2B
        Mar 21, 2024 to Mar 25, 2025
      • RAUM · $1.2B to $1.2B
        Mar 21, 2024 to Mar 25, 2025
      • Accounts · 26 to 17
        Sep 14, 2023 to Mar 21, 2024
      • Advisory employees · 5 to 4
        Sep 14, 2023 to Mar 21, 2024
      • BD registered reps · 4 to 5
        Sep 14, 2023 to Mar 21, 2024
      • Discretionary RAUM · $1.2B to $1.2B
        Sep 14, 2023 to Mar 21, 2024
      • RAUM · $1.2B to $1.2B
        Sep 14, 2023 to Mar 21, 2024
      • Accounts · 24 to 26
        Jun 22, 2022 to Mar 16, 2023
      • Insurance-licensed employees · 0 to 1
        Jun 22, 2022 to Mar 16, 2023
      • State-registered IARs · 0 to 1
        Jun 22, 2022 to Mar 16, 2023
      • Discretionary RAUM · $2.4B to $1.2B
        Jun 22, 2022 to Mar 16, 2023
      • RAUM · $2.4B to $1.2B
        Jun 22, 2022 to Mar 16, 2023
      • Accounts · 18 to 24
        Mar 8, 2021 to Mar 29, 2022
      • Advisory employees · 4 to 5
        Mar 8, 2021 to Mar 29, 2022
      • Employees · 8 to 9
        Mar 8, 2021 to Mar 29, 2022
      • Discretionary RAUM · $1.1B to $2.4B
        Mar 8, 2021 to Mar 29, 2022
      • RAUM · $1.1B to $2.4B
        Mar 8, 2021 to Mar 29, 2022
      • Accounts · 16 to 18
        Nov 5, 2020 to Mar 8, 2021
      • BD registered reps · 2 to 4
        Nov 5, 2020 to Mar 8, 2021
      • Employees · 7 to 8
        Nov 5, 2020 to Mar 8, 2021
      • State-registered IARs · 2 to 0
        Nov 5, 2020 to Mar 8, 2021
      • Discretionary RAUM · $683M to $1.1B
        Nov 5, 2020 to Mar 8, 2021
      • RAUM · $683M to $1.1B
        Nov 5, 2020 to Mar 8, 2021
      • Employees · 9 to 7
        Nov 21, 2019 to Mar 20, 2020
      • Other offices · 3 to 0
        Nov 21, 2019 to Mar 20, 2020
      • Discretionary RAUM · $658M to $683M
        Nov 21, 2019 to Mar 20, 2020
      • RAUM · $658M to $683M
        Nov 21, 2019 to Mar 20, 2020
      • Accounts · 17 to 16
        Mar 26, 2018 to Mar 18, 2019
      • Advisory employees · 5 to 4
        Mar 26, 2018 to Mar 18, 2019
      • Employees · 14 to 9
        Mar 26, 2018 to Mar 18, 2019
      • State-registered IARs · 0 to 2
        Mar 26, 2018 to Mar 18, 2019
      • Discretionary RAUM · $1.1B to $658M
        Mar 26, 2018 to Mar 18, 2019
      Signals
      9 dated events
      • Advisorshares reported RAUM $1.7B, up 45% from $1.2B (2025-03-25 to 2026-03-12)
        Mar 12, 2026 · RAUM change · derived
      • J. Julio Lugo (Vp Head Of Operations) no longer on Schedule A of Advisorshares (listed 2023-05-04, absent 2023-09-14)
        Sep 14, 2023 · Control person left · inference
      • Michael Julio Lugo (Vp Head Of Operations) no longer on Schedule A of Advisorshares (listed 2023-03-29, absent 2023-05-04)
        May 4, 2023 · Control person left · inference
      • J. Julio Lugo (Vp Head Of Operations) appeared on Schedule A of Advisorshares
        May 4, 2023 · Control person joined · fact
      • Advisorshares reported RAUM $1.2B, down 48% from $2.4B (2022-06-22 to 2023-03-16)
        Mar 16, 2023 · RAUM change · derived
      • Advisorshares reported RAUM $2.4B, up 126% from $1.1B (2021-03-08 to 2022-03-29)
        Mar 29, 2022 · RAUM change · derived
      • Michael Julio Lugo (Vp Head Of Operations) appeared on Schedule A of Advisorshares
        Mar 29, 2022 · Control person joined · fact
      • Advisorshares reported RAUM $1.1B, up 55% from $682.7M (2020-11-05 to 2021-03-08)
        Mar 8, 2021 · RAUM change · derived
      • Advisorshares reported RAUM $657.8M, down 39% from $1.1B (2018-03-26 to 2019-03-18)
        Mar 18, 2019 · 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
      Website
      A•••••••••.COMreportedpublic record, Form ADV, Sep 19, 2026
      Principal office phone
      877-843-3831reportedpublic record, Form ADV, Mar 12, 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