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
W••••••• A••••••• L••
Latest filing Mar 31, 2026
First filing on the tape Mar 30, 2012 · 40 filings
SEC status approved since Dec 18, 2009
RAUM
$2.7B
reported, Item 5.F
Discretionary
37%
of RAUM
Private clients
55%
$1.5B individuals and HNW
Advisors
8
registered through the firm on IAPD
RAUM per advisor
$334M
derived; firm RAUM over IAPD count
Employees
23
8 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
66
reported on Schedule D
History
40 filings and snapshots on the tape
RAUM$2.7B as of Mar 31, 2026
Mar 30, 2012$1.2B then
HNW client RAUM$1.5B as of Mar 31, 2026
Mar 29, 2018$1.0B then
State-registered IARs (5.B.3)7 as of Mar 31, 2026
Mar 30, 20120 then
Employees (5.A)23 as of Mar 31, 2026
Mar 27, 201315 then
Private funds66 as of Mar 31, 2026
Mar 30, 20123 then
RAUM +7.3% over the last fiscal year+4.1% a year over threeIARs 6 to 7
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
Archetypes, each a printed rule
- Dual wealth and asset manager · private-client share 20 to 60 percent and fund or institutional share at least 30 percent
- RIA with heavy alternatives · a wealth manager whose private fund gross assets are at least 25 percent of RAUM, or five or more private funds
- ria with p•••••• funds · a wealth manager (private-client share at least 50 percent) that reports at least one private fund on Schedule D 7.B.(1)
- uhnw p•••••• wealth · private-client share at least 50 percent, HNW at least 90 percent of private-client RAUM, and average HNW client assets at least $10M
- RAUM per advisor
- $334MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 9derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $20.8MderivedHNW RAUM over HNW clients
- Average account
- $4.4MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 37%derivedof RAUM
- Institutional
- 8.6%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.9derivedItem 5.A over advisors
- Advisors per office
- 8.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +7.3%derivedbetween the last two annual amendments
- Advisor growth, one year
- +17%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +7.7%derived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, selection of other advisersreportedItem 5.G
- Custody
- $2.7B, 153 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
- 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)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- an independent public accountant performs a surprise examination (9.C.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$1.5B55%
- Pooled investment vehicles$983M37%
- Charitable organizations$229M8.6%
- Individual clients
- 0reported
- HNW clients
- 70reported
- Pension plan clients
- 0reported
- Charitable clients
- 12reported
- Accounts
- 600reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- $2.7B for 153 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.55 fund_share=0.37 institutional_share=0.09 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
8 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| K•••••• R••••• P••••Certified Financial Planner | Waltham, Ma | Feb 2, 2010 | 16 y | 0 |
| P••• S•••• P•••••••• | Waltham, Ma | May 24, 2010 | 16 y | 0 |
| W•••••• A• H••••• | Waltham, Ma | Oct 25, 2010 | 17 y | 0 |
| G••••• Q•••••••Chartered Financial Analyst | Waltham, Ma | May 22, 2015 | 11 y | 0 |
| P••• K•••••• M••••Chartered Financial Consultant | Waltham, Ma | May 25, 2022 | 29 y | 3 |
| R••••• T••••• D••••••••Chartered Financial Analyst | Waltham, Ma | Feb 14, 2025 | 11 y | 0 |
| A••• R••••• L•••Chartered Financial Analyst | Waltham, Ma | Jan 23, 2026 | 11 y | 0 |
| J•••••• B••••••• | Waltham, Ma | Aug 12, 2026 | 11 y | 1 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days1 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- J••• D••••••• H•••• to M•••••• C•••••• P••••••• L••Jun 30, 2022 · RIA to a newly registered adviser
- T••• H•••••• to H••• S••••••••• •••• I•••Sep 21, 2018 · RIA to affiliated broker-dealer or bank
- C••••••••• B•••• R•• to S•• W•••••Nov 23, 2016 · Other
- G••• S••••• D•••••••• to S••••• C•••••• G••••• I•••Oct 6, 2011 · Other
Joined, latest
- J•••••• B••••••• from T••• F•••• C•••••• P•••••••• L••Aug 12, 2026 · RIA to RIA
- P••• K•••••• M•••• from J••• M••••• P•••••• W••••• A••••••• L••May 25, 2022 · Affiliated broker-dealer or bank to independent RIA
- C••••••••• B•••• R•• from C•• A•••••••• L••Feb 11, 2013 · Other
- G••• S••••• D•••••••• from C••••• S••••• S••••••••• •••• L••Jan 28, 2010 · Other
Private funds
77 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| W• M••••• D••••••••• H•••• F•••• L•• | Hedge Fund | $219M | 36 | May 25, 2016 |
| W• A••••••• R••••• H•••• F•••• L•• | Hedge Fund | $179M | 38 | May 25, 2016 |
| W• G••••• E••••• F•••• L•• | Liquidity Fund | $132M | 30 | May 25, 2016 |
| W• R••• A••••• F••• L•• | Real Estate Fund | $89.0M | 37 | Mar 29, 2018 |
| W• P•••••• E••••• F••• V••• L•• | Private Equity Fund | $48.8M | 15 | Nov 19, 2018 |
| W• P•••••• E••••• F••• V•• L•• | Private Equity Fund | $47.9M | 15 | Mar 24, 2017 |
| W••••••• • K•••••• L•••• C• L•• | $46.7M | 41 | Mar 31, 2026 | |
| W••••••• • F•••• B••••• L•••••• P••• V•• L•• | $46.7M | 60 | Mar 31, 2026 | |
| W• F•••• I••••• F•••• L•• | $44.2M | 46 | Mar 31, 2026 | |
| W• P•••••• E••••• F••• I•• L•• | Private Equity Fund | $41.2M | 19 | Mar 26, 2021 |
| W• P•••••• E••••• F••• X• L•• | Private Equity Fund | $32.0M | 28 | Mar 29, 2022 |
| W• P•••••• E••••• F••• X•• L•• | Private Equity Fund | $30.7M | 32 | Mar 29, 2023 |
| W• P•••••• E••••• F••• V•••• L•• | Private Equity Fund | $28.7M | 15 | Mar 31, 2020 |
| W• P•••••• E••••• F••• V• L•• | Private Equity Fund | $25.6M | 9 | May 25, 2016 |
| W• P•••••• C••••• F••• I•• L•• | Private Equity Fund | $21.4M | 31 | Mar 27, 2024 |
| W• P•••••• E••••• F••• X••• L•• | Private Equity Fund | $18.4M | 31 | Mar 27, 2024 |
| W••••••• • L•••••• L•• | Private Equity Fund | $18.1M | 12 | Nov 19, 2018 |
| W••••••• • N• M•••••• L•• | Real Estate Fund | $17.9M | 21 | Mar 31, 2020 |
| W••••••• • P•••• S•••••• F••• I•• L•• | Real Estate Fund | $16.9M | 33 | Mar 29, 2023 |
| W••••••• • A• L•• | Private Equity Fund | $14.1M | 11 | Mar 24, 2016 |
| W••••••• • C• F••• V••• L•• | Real Estate Fund | $12.8M | 25 | Mar 29, 2023 |
| W••••••• • K•••••• L•••• I•• L•• | Private Equity Fund | $12.6M | 26 | Mar 29, 2022 |
| W••••••• • M•• I• L•• | Venture Capital Fund | $12.5M | 11 | Mar 25, 2015 |
| W••••••• • K•••••• L•••• I• L•• | Private Equity Fund | $12.1M | 16 | Mar 26, 2021 |
| W••••••• • N••• S•••• B••••• L•• | Real Estate Fund | $11.5M | 22 | Nov 19, 2018 |
| W• P•••••• N•••••• R•••••••• F••• V• L•• | Private Equity Fund | $10.8M | 27 | Mar 27, 2024 |
| W••••••• • C•••••••• E••••• S•• L•• | Private Equity Fund | $9.9M | 18 | Mar 29, 2022 |
| W••••••• • P••• I• L•• | Private Equity Fund | $8.9M | 22 | Mar 27, 2024 |
| W••••••• • I•• X• L•• | Private Equity Fund | $8.7M | 11 | Mar 24, 2016 |
| W••••••• • E•• V•• L•• | Private Equity Fund | $8.5M | 12 | Mar 24, 2016 |
| W••••••• • E••••• F••• I• L•• | Private Equity Fund | $8.4M | 7 | Mar 24, 2016 |
| W••••••• • N•• L••••• R••• L••no longer reported | Real Estate Fund | $8.0M | 11 | Mar 24, 2017 |
| W••••••• • W••• X•• L•• | Real Estate Fund | $7.9M | 19 | Mar 26, 2021 |
| W••••••• • W••• X••• L•• | Real Estate Fund | $7.8M | 13 | Mar 29, 2018 |
| W••••••• • T•• I• L•• | Private Equity Fund | $6.8M | 14 | Mar 29, 2022 |
| W••••••• • C• F••• L•• | Real Estate Fund | $6.4M | 12 | Mar 31, 2020 |
| W••••••• O••••••••• F••• L•• | Private Equity Fund | $6.3M | 23 | Mar 26, 2021 |
| W••••••• • W••• X• L•• | Real Estate Fund | $6.3M | 31 | Mar 27, 2024 |
| W••••••• • A•• I•• F••• L•• | Private Equity Fund | $6.2M | 14 | Mar 26, 2021 |
| W••••••• • C•••• L•• | Real Estate Fund | $6.0M | 11 | Mar 31, 2020 |
Owners and control persons
Schedule A and B, latest filing
- H•••••• W••••••• A• · Chief Executive Officer And Presidentcontrolsince 08/2009 · owns 5% to 10%
- M••••• P•••• K•••••• · Managing Directorcontrolsince 01/2023 · owns less than 5%
- P••••• K••••••• R••••• · Partnercontrolsince 01/2023 · owns less than 5%
- P••••••••• P•••• S•••• · Controller And Chief Compliance Officercontrolsince 07/2017 · owns less than 5%
- Q•••••••• G••••• · Partner And Chief Investment Officercontrolsince 12/2017 · owns less than 5%
- F••••••• D•••••• M•• · Ownercontrolsince 01/2023 · owns 75% or more of D• C•••••• I• L••
- F••••••• D•••••• M•• · Ownercontrolsince 12/2019 · owns 75% or more of D• C•••••• L••
- F••••••• D•••••• M•• · Ownercontrolsince 01/2023 · owns 75% or more of P•••••• F•••••• R••••• G••• F•• D••••• F••••••
Entity owners
- D• C•••••• I• L•• · Shareholderdirect · owns 25% to 50%
- D• C•••••• L•• · Shareholderdirect · owns 10% to 25%
- P•••••• F•••••• R••••• G••• F•• D••••• F•••••• · Shareholderdirect · owns 25% to 50%
- P•••••• F•••••• R••••• G••• F•• · Shareholderdirect · owns less than 5%
- P•••••• F•••••• R••••• G••• F•• L••• B•••••• · Shareholderdirect · owns less than 5%
Related persons
Schedule D 7.A
- D••• C••••••• G••••• L••investment advisern
- F•••••• C•••••• P••••••• L••investment advisernRAUM $119M
- K•••••• R• P••••insurancey
- P••• S• P••••••••insurancey
- W• M• L••pooled vehicle sponsory
- W•••••• A• H•••••insurancey
Advisers that list W••••••• A••••••• L•• as a related person
- 162290 y
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Waltham, Ma · principal | 8 | 2 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- many p•••••• funds relative to firm sizeStatic outlier · filing Mar 31, 2026private funds per $1B of RAUM of 24.7 against a peer median of 2.9 (94 comparable advisers, 99.0th percentile, 10.9 robust deviations)peers: independent wealth managers, $1B to $5B (94) · 99% percentile
- control person changedChange between filings · filing Mar 31, 2026F••••••• D•••••• M•• (OWNER) left Schedule A between the filings of 2024-03-27 and 2026-03-31peers: independent wealth managers, $1B to $5B (1,362)
What changed
consecutive filings, newest first
- Accounts · 549 to 600Jul 3, 2025 to Mar 31, 2026
- HNW clients · 65 to 70Jul 3, 2025 to Mar 31, 2026
- Pooled vehicle clients · 72 to 71Jul 3, 2025 to Mar 31, 2026
- Assets in custody · $2.5B to $2.7BJul 3, 2025 to Mar 31, 2026
- Employees · 24 to 23Jul 3, 2025 to Mar 31, 2026
- State-registered IARs · 6 to 7Jul 3, 2025 to Mar 31, 2026
- Private funds · 65 to 66Jul 3, 2025 to Mar 31, 2026
- Discretionary RAUM · $885M to $983MJul 3, 2025 to Mar 31, 2026
- HNW RAUM · $1.0B to $1.5BJul 3, 2025 to Mar 31, 2026
- Non-discretionary RAUM · $1.6B to $1.7BJul 3, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $1.3B to $983MJul 3, 2025 to Mar 31, 2026
- RAUM · $2.5B to $2.7BJul 3, 2025 to Mar 31, 2026
- Financial planning clients · 51-100 to 51-100Mar 26, 2025 to Jul 3, 2025
- Accounts · 508 to 549Aug 12, 2024 to Mar 26, 2025
- Charity clients · 10 to 12Aug 12, 2024 to Mar 26, 2025
- HNW clients · 55 to 65Aug 12, 2024 to Mar 26, 2025
- Pooled vehicle clients · 67 to 72Aug 12, 2024 to Mar 26, 2025
- Assets in custody · $2.5B to $2.5BAug 12, 2024 to Mar 26, 2025
- Employees · 23 to 24Aug 12, 2024 to Mar 26, 2025
- Financial planning clients · 26-50 to 51-100Aug 12, 2024 to Mar 26, 2025
- State-registered IARs · 5 to 6Aug 12, 2024 to Mar 26, 2025
- Private funds · 61 to 65Aug 12, 2024 to Mar 26, 2025
- Discretionary RAUM · $807M to $885MAug 12, 2024 to Mar 26, 2025
- HNW RAUM · $1.2B to $1.0BAug 12, 2024 to Mar 26, 2025
- Non-discretionary RAUM · $1.7B to $1.6BAug 12, 2024 to Mar 26, 2025
- Pooled vehicle RAUM · $1.1B to $1.3BAug 12, 2024 to Mar 26, 2025
- RAUM · $2.5B to $2.5BAug 12, 2024 to Mar 26, 2025
- Accounts · 137 to 508Mar 29, 2023 to Mar 27, 2024
- Advisory employees · 5 to 8Mar 29, 2023 to Mar 27, 2024
- Charity clients · 7 to 10Mar 29, 2023 to Mar 27, 2024
- HNW clients · 61 to 55Mar 29, 2023 to Mar 27, 2024
- Pooled vehicle clients · 55 to 67Mar 29, 2023 to Mar 27, 2024
- Assets in custody · $2.4B to $2.5BMar 29, 2023 to Mar 27, 2024
- Employees · 20 to 23Mar 29, 2023 to Mar 27, 2024
- Private funds · 54 to 61Mar 29, 2023 to Mar 27, 2024
- Discretionary RAUM · $769M to $807MMar 29, 2023 to Mar 27, 2024
- HNW RAUM · $1.0B to $1.2BMar 29, 2023 to Mar 27, 2024
- Non-discretionary RAUM · $1.6B to $1.7BMar 29, 2023 to Mar 27, 2024
- Pooled vehicle RAUM · $1.1B to $1.1BMar 29, 2023 to Mar 27, 2024
- RAUM · $2.4B to $2.5BMar 29, 2023 to Mar 27, 2024
Signals
4 dated events
- R••••• Kenneth Polay (Partner And Chief Executive Officer) appeared on Schedule A of W••••••• A••••••• L••Jan 26, 2023 · Control person joined · fact
- Kenneth Paul Mutch (Managing Director) appeared on Schedule A of W••••••• A••••••• L••Jan 26, 2023 · Control person joined · fact
- Dietrich John Haase (Managing Partner) no longer on Schedule A of W••••••• A••••••• L•• (listed 2022-11-01, absent 2023-01-26)Jan 26, 2023 · Control person left · inference
- J••• D••••••• H•••• left W••••••• A••••••• L•• for M•••••• C•••••• P••••••• L•• (registered 2024-02-22)Jun 30, 2022 · Advisor changed firm · fact
Across DFX
shared identifiers only, never a name match
- W••••••• A••••••• L•• · Independent Sponsorsshared crd · capital_provider
- W••••••• A••••••• L•• · Private Equityshared crd · organization
- W••••••• A••••••• L•• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Business email
- info@windroseadvisor.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 617-421-1750reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/windrose-advisorsreportedpublic record, Form ADV, Sep 18, 2026
- Website
- windroseadvisor.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- (617) 421-1750reportedpublic record, Form ADV, Mar 31, 2026
- Team page
- windroseadvisor.com/teamreportedpublished by the firm, firm site, Sep 15, 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
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $334Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026
Across the graphs
W••••••• A••••••• L•• is the same institution as 1 record in Real Estate Funds.
Real Estate Funds1
Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.
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