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.
SEC-registered adviser
Alpha Architect
Asset manager (funds and pooled vehicles)Newtown Square, PennsylvaniaCRD 153905SEC 801-71697websiteIAPD
Legal name Alpha Architect, LLC
Latest filing Aug 25, 2026
First filing on the tape Nov 21, 2011 · 72 filings
SEC status approved since Aug 16, 2010
RAUM
$14B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
6.3%
$852M individuals and HNW
Advisors
5
registered through the firm on IAPD
RAUM per advisor
$2.7B
derived; firm RAUM over IAPD count
Employees
12
5 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
72 filings and snapshots on the tape
RAUM$14B as of Aug 25, 2026
Feb 14, 2012$101M then
HNW client RAUM$789M as of Aug 25, 2026
Mar 28, 2018$133M then
State-registered IARs (5.B.3)5 as of Aug 25, 2026
Feb 14, 20120 then
Employees (5.A)12 as of Aug 25, 2026
Feb 4, 20136 then
Private funds1 as of Feb 18, 2020
Feb 14, 20121 then
RAUM +86% over the last fiscal year+204% a year over threeIARs 4 to 5
Practice profile
derived from the filing of Aug 25, 2026; every figure names its basis
- RAUM per advisor
- $2.7BderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 23derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $9.0MderivedHNW RAUM over HNW clients
- Average account
- $100MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.4derivedItem 5.A over advisors
- Advisors per office
- 5.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +86%derivedbetween the last two annual amendments
- Advisor growth, one year
- +25%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -0.9%derived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for investment companies, otherreportedItem 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)
- marketing includes testimonials (5.L.1.c)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Investment companies$13B93%
- High-net-worth individuals$789M5.8%
- Corporations and businesses$147M1.1%
- Individuals$62.8M0.5%
- Individual clients
- 28reported
- HNW clients
- 88reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 135reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=0.06 fund_share=0.93 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
5 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Wesley Robert Gray | Newtown Square, Pa | Feb 14, 2012 | 16 y | 0 |
| John Robert Vogel | Media, Pa | Jan 24, 2013 | 14 y | 0 |
| Sebastian Douglas Pugliese | Newtown Square, Pa | Nov 17, 2016 | 20 y | 1 |
| Richard Kyle BaxterChartered Financial Analyst | Newtown Square, Pa | Jan 17, 2017 | 10 y | 0 |
| Erik Chavez | Las Vegas, Nv | Sep 15, 2025 | 19 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount1 left over 36 months
Left, latest
- Jessica Lynn Bost to Lake Avenue Financial LLCApr 17, 2024 · RIA to RIA
- Andrew Eddy Kern to Oasis AdvisorsFeb 18, 2011 · Other
Joined, latest
- William Joshua Anthony Russell from Carson Group InvestingOct 12, 2022 · Other
- Jessica Dawn Leighty from Snow Capital Management, L.P.Oct 28, 2021 · RIA to RIA
- Jessica Lynn Bost from Park Avenue Securities LLCSep 9, 2021 · Affiliated broker-dealer or bank to independent RIA
- Sebastian Douglas Pugliese from Sei Investments Management CorpNov 17, 2016 · Other
- Andrew Eddy Kern from Kern Asset Management IncSep 7, 2010 · Other
Private funds
3 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Advanced Alpha Architect, LPno longer reported | Hedge Fund | $4.4M | 9 | Aug 5, 2015 |
| Easno longer reported | Hedge Fund | $1.2M | 5 | Feb 14, 2012 |
| Alpha Architect Global Macro Insurance Dedicated Fundno longer reported | Hedge Fund | $0 | 1 | Mar 22, 2017 |
Owners and control persons
Schedule A and B, latest filing
- Robert Wesley Gray · Chief Executive Officer/Chief Investment Officer/Chief Compliance Officercontrolsince 07/2010 · owns less than 5%
- Robert John Vogel · Chief Financial Officercontrolsince 03/2012 · owns less than 5%
- Robert Wesley Gray · Managing Membercontrolsince 07/2010 · owns 50% to 75% of Empirical Finance, LLC
- Michael David Babulak · Trusteesince 01/2017 · owns F of Babulak Family Trust
- Lien Babulak · Trusteesince 01/2017 · owns F of Babulak Family Trust
- Russell Patrick Cleary · Managing Membersince 10/2014 · owns F of Empirical Finance, LLC
- Robert John Vogel · Managing Membersince 03/2012 · owns F of Empirical Finance, LLC
Entity owners
- Empirical Finance, LLC · Memberdirect · owns 75% or more
- Babulak Family Trust · Memberindirect · owns F of Empirical Finance, LLC
Related persons
Schedule D 7.A
- Etf Architectinvestment adviseryRAUM $30B
Advisers that list Alpha Architect as a related person
- 171412 y
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Newtown Square, Pa · principal | 5 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- RAUM up clients flatCombination · filing Feb 10, 2026RAUM grew 50 percent or more while private clients stayed within 5 percent: existing clients grew, a few large clients arrived, or a reporting change. RAUM $7,274,779,825 to $13,502,643,004, advisors 4 to 5, private clients 117 to 116, offices 0 to 0 (2025-03-27 to 2026-02-10)peers: asset managers, $5B to $20B (684)
- RAUM up 50 %Change between filings · filing Feb 10, 2026RAUM (Item 5.F) moved from $7,274,779,825 to $13,502,643,004 (+86.0%) between the annual amendments of 2025-03-27 and 2026-02-10; the peer median change was +13.0% (631 comparable advisers, 94.0th percentile of changes)peers: asset managers, $5B to $20B (631) · 94% percentile
What changed
consecutive filings, newest first
- Accounts · 172 to 135Aug 12, 2025 to Feb 10, 2026
- Advisory employees · 4 to 5Aug 12, 2025 to Feb 10, 2026
- HNW clients · 87 to 88Aug 12, 2025 to Feb 10, 2026
- Individual clients · 30 to 28Aug 12, 2025 to Feb 10, 2026
- Employees · 9 to 12Aug 12, 2025 to Feb 10, 2026
- State-registered IARs · 4 to 5Aug 12, 2025 to Feb 10, 2026
- Discretionary RAUM · $7.3B to $14BAug 12, 2025 to Feb 10, 2026
- HNW RAUM · $656M to $789MAug 12, 2025 to Feb 10, 2026
- Individual RAUM · $48.4M to $62.8MAug 12, 2025 to Feb 10, 2026
- RAUM · $7.3B to $14BAug 12, 2025 to Feb 10, 2026
- Financial planning clients · 0 to 0Mar 27, 2025 to Aug 12, 2025
- HQ city · HAVERTOWN to NEWTOWN SQUAREMar 27, 2025 to Aug 12, 2025
- Accounts · 170 to 172Mar 29, 2024 to Mar 3, 2025
- HNW clients · 81 to 87Mar 29, 2024 to Mar 3, 2025
- Individual clients · 37 to 30Mar 29, 2024 to Mar 3, 2025
- Discretionary RAUM · $712M to $7.3BMar 29, 2024 to Mar 3, 2025
- HNW RAUM · $551M to $656MMar 29, 2024 to Mar 3, 2025
- Individual RAUM · $39.0M to $48.4MMar 29, 2024 to Mar 3, 2025
- RAUM · $712M to $7.3BMar 29, 2024 to Mar 3, 2025
- Accounts · 245 to 170Dec 20, 2023 to Mar 29, 2024
- Advisory employees · 7 to 4Dec 20, 2023 to Mar 29, 2024
- Corporate clients · 10 to 8Dec 20, 2023 to Mar 29, 2024
- HNW clients · 183 to 81Dec 20, 2023 to Mar 29, 2024
- Individual clients · 52 to 37Dec 20, 2023 to Mar 29, 2024
- Financial planning clients · 11-25 to 0Dec 20, 2023 to Mar 29, 2024
- State-registered IARs · 7 to 4Dec 20, 2023 to Mar 29, 2024
- Discretionary RAUM · $576M to $712MDec 20, 2023 to Mar 29, 2024
- HNW RAUM · $485M to $551MDec 20, 2023 to Mar 29, 2024
- Individual RAUM · $3.9M to $39.0MDec 20, 2023 to Mar 29, 2024
- RAUM · $576M to $712MDec 20, 2023 to Mar 29, 2024
- Accounts · 268 to 245Aug 17, 2023 to Nov 17, 2023
- Advisory employees · 12 to 7Aug 17, 2023 to Nov 17, 2023
- Corporate clients · 7 to 10Aug 17, 2023 to Nov 17, 2023
- HNW clients · 189 to 183Aug 17, 2023 to Nov 17, 2023
- Individual clients · 72 to 52Aug 17, 2023 to Nov 17, 2023
- Employees · 19 to 9Aug 17, 2023 to Nov 17, 2023
- State-registered IARs · 12 to 7Aug 17, 2023 to Nov 17, 2023
- Discretionary RAUM · $452M to $576MAug 17, 2023 to Nov 17, 2023
- HNW RAUM · $396M to $485MAug 17, 2023 to Nov 17, 2023
- Individual RAUM · $5.5M to $3.9MAug 17, 2023 to Nov 17, 2023
Signals
7 dated events
- Alpha Architect reported RAUM $13.5B, up 86% from $7.3B (2025-08-12 to 2026-02-10)Feb 10, 2026 · RAUM change · derived
- Alpha Architect reported RAUM $7.3B, up 922% from $711.7M (2024-03-29 to 2025-03-03)Mar 3, 2025 · RAUM change · derived
- Jessica Lynn Bost left Alpha Architect for Lake Avenue Financial Llc (registered 2024-07-26)Apr 17, 2024 · Advisor changed firm · fact
- Dawn Jessica Leighty (Chief Compliance Officer) no longer on Schedule A of Alpha Architect (listed 2023-08-17, absent 2023-11-17)Nov 17, 2023 · Control person left · inference
- Dale Brandon Koepke (Director, Trading And Execution) no longer on Schedule A of Alpha Architect (listed 2023-02-14, absent 2023-03-31)Mar 31, 2023 · Control person left · inference
- Dawn Jessica Leighty (Chief Compliance Officer) appeared on Schedule A of Alpha ArchitectNov 11, 2021 · Control person joined · fact
- Alpha Architect reported RAUM $572.7M, up 121% from $259.0M (2017-08-31 to 2018-03-28)Mar 28, 2018 · 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
- Firm profile
- LINKEDIN.COM/COMPANY/ALPHAARCHITECTLLCreportedpublic record, Form ADV, Sep 17, 2026
- Website
- ALPHAARCHITECT.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- +1.215.882.9983reportedpublic record, Form ADV, Aug 25, 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
- $2.7Bderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026