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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Former SEC-registered adviser

A••• C•••••• M••••••••• L•••

Former SEC-registered adviserDallas, TexasCRD 153302SEC 801-71557IAPD
Latest filing Mar 22, 2022
First filing on the tape Mar 29, 2012 · 28 filings
RAUM
$2.8M
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
1
0 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
6
$2.8M gross assets
History
28 filings and snapshots on the tape
RAUM$2.8M as of Mar 22, 2022
Mar 29, 2012$293M then
HNW client RAUM$0 as of Mar 22, 2022
Mar 30, 2018$0 then
State-registered IARs (5.B.3)0 as of Mar 22, 2022
Apr 1, 20130 then
Employees (5.A)1 as of Mar 22, 2022
Apr 1, 20130 then
Private funds6 as of Mar 22, 2022
Mar 31, 20144 then
RAUM -100% over the last fiscal year-89% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 22, 2022; 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
$459,469derivedRAUM 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
unknownderived1 offices incl. principal (1.F.5)
RAUM growth, one year
-100%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
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)
  • 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
  • Pooled investment vehicles$2.8M100%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
6reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, performancereported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Every departureEvery arrival
Private funds
8 reported on Schedule D 7.B.(1)
FundTypeGross assetsOwnersFirst reported
A••• C•• 2••••• L•••no longer reportedSecuritized Asset Fund$138M1Mar 31, 2014
A••• C•• V•••• M••••• F••• I•• L•••no longer reportedHedge Fund$21.1M9May 28, 2013
A••• C•• 2••••• L•••Securitized Asset Fund$2.8M1Mar 31, 2015
A••• C•• 2••••• L•••Securitized Asset Fund$02Mar 31, 2014
A••• C•• 2••••• L•••Securitized Asset Fund$02Mar 29, 2016
H••••••• I••••• C•• I••• L•••Securitized Asset Fund$04Mar 31, 2014
A••• C•• 2•••••• L•••Securitized Asset Fund$01Mar 31, 2015
A••• C•• 2••••• L•••Securitized Asset Fund$01Mar 31, 2015
Owners and control persons
Schedule A and B, latest filing
  • T••••• J•••••• N••• · President & Ccocontrol
    since 02/2019 · owns less than 5%
  • T••••• J•••••• N••• · Sole Managing Membercontrol
    since 02/2019 · owns 75% or more of S•••••••• H•••••••• L••
Entity owners
  • S•••••••• G•• L•• · General Partner
    direct · owns less than 5%
  • S•••••••• H•••••••• L•• · Limited Partner
    direct · owns 75% or more
Related persons
Schedule D 7.A
No related person reported.
Advisers that list A••• C•••••• M••••••••• L••• as a related person
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
  • Discretionary RAUM · $1.0B to $2.8M
    Feb 22, 2022 to Mar 22, 2022
  • Pooled vehicle RAUM · $1.0B to $2.8M
    Feb 22, 2022 to Mar 22, 2022
  • RAUM · $1.0B to $2.8M
    Feb 22, 2022 to Mar 22, 2022
  • Employees · 5 to 1
    Jul 21, 2020 to Mar 31, 2021
  • Discretionary RAUM · $1.7B to $1.0B
    Jul 21, 2020 to Mar 31, 2021
  • Pooled vehicle RAUM · $1.7B to $1.0B
    Jul 21, 2020 to Mar 31, 2021
  • RAUM · $1.7B to $1.0B
    Jul 21, 2020 to Mar 31, 2021
  • Employees · 1 to 5
    Jun 28, 2019 to Mar 30, 2020
  • Discretionary RAUM · $1.9B to $1.7B
    Jun 28, 2019 to Mar 30, 2020
  • Pooled vehicle RAUM · $1.9B to $1.7B
    Jun 28, 2019 to Mar 30, 2020
  • RAUM · $1.9B to $1.7B
    Jun 28, 2019 to Mar 30, 2020
  • Accounts · 11 to 6
    Jun 29, 2018 to Mar 31, 2019
  • Advisory activities · 2 to 1
    Jun 29, 2018 to Mar 31, 2019
  • Corporate clients · unset to 0.0
    Jun 29, 2018 to Mar 31, 2019
  • Pooled vehicle clients · 10 to 6
    Jun 29, 2018 to Mar 31, 2019
  • State-registered IARs · 1 to 0
    Jun 29, 2018 to Mar 31, 2019
  • Private funds · 7 to 6
    Jun 29, 2018 to Mar 31, 2019
  • Discretionary RAUM · $3.5B to $1.9B
    Jun 29, 2018 to Mar 31, 2019
  • Pooled vehicle RAUM · $2.9B to $1.9B
    Jun 29, 2018 to Mar 31, 2019
  • RAUM · $3.5B to $1.9B
    Jun 29, 2018 to Mar 31, 2019
  • Related adviser · true to false
    Jun 29, 2018 to Mar 31, 2019
  • Related bank · true to false
    Jun 29, 2018 to Mar 31, 2019
  • Related broker-dealer · true to false
    Jun 29, 2018 to Mar 31, 2019
  • Accounts · 10 to 11
    Apr 20, 2017 to Mar 30, 2018
  • Charity clients · unset to 0.0
    Apr 20, 2017 to Mar 30, 2018
  • HNW clients · unset to 0.0
    Apr 20, 2017 to Mar 30, 2018
  • Individual clients · unset to 0.0
    Apr 20, 2017 to Mar 30, 2018
  • Pension plan clients · unset to 0.0
    Apr 20, 2017 to Mar 30, 2018
  • Pooled vehicle clients · unset to 10.0
    Apr 20, 2017 to Mar 30, 2018
  • Other offices · unset to 0.0
    Apr 20, 2017 to Mar 30, 2018
  • Private funds · 8 to 7
    Apr 20, 2017 to Mar 30, 2018
  • Discretionary RAUM · $3.3B to $3.5B
    Apr 20, 2017 to Mar 30, 2018
  • HNW RAUM · unset to 0.0
    Apr 20, 2017 to Mar 30, 2018
  • Individual RAUM · unset to 0.0
    Apr 20, 2017 to Mar 30, 2018
  • Pension RAUM · unset to 0.0
    Apr 20, 2017 to Mar 30, 2018
  • Pooled vehicle RAUM · unset to 2878647000.0
    Apr 20, 2017 to Mar 30, 2018
  • RAUM · $3.3B to $3.5B
    Apr 20, 2017 to Mar 30, 2018
  • Private funds · 7 to 8
    Mar 31, 2017 to Apr 20, 2017
  • Accounts · 11 to 10
    Jan 24, 2017 to Mar 31, 2017
  • Advisory activities · 1 to 2
    Jan 24, 2017 to Mar 31, 2017
Signals
7 dated events
  • A••• C•••••• M••••••••• L••• reported RAUM $2.8M, down 100% from $1.0B (2022-02-22 to 2022-03-22)
    Mar 22, 2022 · RAUM change · derived
  • A••• C•••••• M••••••••• L••• reported RAUM $1.0B, down 42% from $1.7B (2020-07-21 to 2021-03-31)
    Mar 31, 2021 · RAUM change · derived
  • George Frank Waterhouse (Treasurer) no longer on Schedule A of A••• C•••••• M••••••••• L••• (listed 2018-06-29, absent 2019-03-31)
    Mar 31, 2019 · Control person left · inference
  • William John Honis (Trustee) no longer on Schedule A of A••• C•••••• M••••••••• L••• (listed 2018-06-29, absent 2019-03-31)
    Mar 31, 2019 · Control person left · inference
  • Neil Joshua Terry (President & Cco) appeared on Schedule A of A••• C•••••• M••••••••• L•••
    Mar 31, 2019 · Control person joined · fact
  • David James Dondero (President) no longer on Schedule A of A••• C•••••• M••••••••• L••• (listed 2018-06-29, absent 2019-03-31)
    Mar 31, 2019 · Control person left · inference
  • A••• C•••••• M••••••••• L••• reported RAUM $1.9B, down 46% from $3.5B (2018-06-29 to 2019-03-31)
    Mar 31, 2019 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
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
Former SEC-registered adviserderiveda 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