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
Black Coral Financial Advisors, LLC
Latest filing Feb 24, 2026
First filing on the tape Jan 30, 2012 · 21 filings
SEC status approved since Feb 3, 2012
RAUM
$504M
reported, Item 5.F
Discretionary
65%
of RAUM
Private clients
100%
$504M individuals and HNW
Advisors
4
registered through the firm on IAPD
RAUM per advisor
$126M
derived; firm RAUM over IAPD count
Employees
6
4 advisory (5.B.1)
Offices
3
beyond the principal office
Private funds
0
reported on Schedule D
History
21 filings and snapshots on the tape
RAUM$504M as of Feb 24, 2026
Mar 4, 2013$200M then
HNW client RAUM$504M as of Feb 24, 2026
Jan 9, 2018$555M then
State-registered IARs (5.B.3)4 as of Feb 24, 2026
Mar 4, 20135 then
Employees (5.A)6 as of Feb 24, 2026
Mar 4, 20135 then
Private funds: no history
RAUM -46% over the last fiscal year-12% a year over threeIARs 6 to 4offices 0 to 3
Practice profile
derived from the filing of Feb 24, 2026; every figure names its basis
- RAUM per advisor
- $126MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $5.7MderivedHNW RAUM over HNW clients
- Average account
- $642,525derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 65%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.5derivedItem 5.A over advisors
- Advisors per office
- 1.0derived4 offices incl. principal (1.F.5)
- RAUM growth, one year
- -46%derivedbetween the last two annual amendments
- Advisor growth, one year
- -33%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, selection of other advisers, educational seminarsreportedItem 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
- is an insurance broker or agent (6.A.6)
- 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
- High-net-worth individuals$504M100%
- Individual clients
- n/areported
- HNW clients
- 88reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 785reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
4 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Stephen Paul Liska | Mount Olive, Nj | Oct 7, 2010 | 25 y | 1 |
| Raymond William Vanhoorebeke | Mount Olive, Nj | Dec 24, 2010 | 16 y | 0 |
| Dennis B Galvin | Mount Olive, Nj | Dec 10, 2014 | 13 y | 0 |
| Joshua K Wardell | Naples, Fl | Feb 19, 2026 | 13 y | 1 |
Advisor movement
2 left, 1 joined in 12 months
net -1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 50% of current headcount2 left over 36 months
Left, latest
- Matthew Frank Wilk to Clear Wave Wealth Management, LLCNov 19, 2025 · RIA to a newly registered adviser
- Joseph Michael Gallo to Clear Wave Wealth Management, LLCNov 19, 2025 · RIA to a newly registered adviser
- Daniel E Park to Dendron Advisors, LLCJan 2, 2014 · Other
- Sean Michael Moore to Cerity Partners LLCNov 14, 2012 · Other
Joined, latest
- Joshua K Wardell from Raymond James & Associates, Inc.Feb 19, 2026 · Affiliated broker-dealer or bank to independent RIA
- Daniel E Park from Goldman Sachs Wealth Services, L.P.Dec 11, 2012 · Other
- Joseph Michael Gallo from Goldman Sachs Wealth Services, L.P.Oct 1, 2012 · Other
- Sean Michael Moore from Goldman Sachs Wealth Services, L.P.Jan 30, 2012 · Other
- Matthew Frank Wilk from The Mde Group, Inc.Jan 30, 2012 · Other
- Stephen Paul Liska from Goldman Sachs Wealth Services, L.P.Oct 7, 2010 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 left for Clear Wave Wealth Management, LLCNov 19, 2025 · Mount Olive, Nj
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Paul Stephen Liska · President & Founder, Chief Compliance Officercontrolsince 07/2010 · owns 25% to 50%
- Michael Joseph Gallo · Vice President, Senior Financial Advisorsince 01/2013 · owns 10% to 25%
- William Raymond Vanhoorebeke · Chief Operating Officersince 01/2012 · owns 10% to 25%
- Frank Matthew Wilk · Vice President, Senior Financial Advisorsince 01/2013 · owns 10% to 25%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Mount Olive, Nj · principal | 4 | 1 | 0 | ||
| Naples, Fl | 2 | 1 | 0 | ||
| Monmouth Beach, Nj | 0 | 0 | 1 | ||
| Chester, Nj | 0 | 0 | 1 | 1 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
3 against comparable advisers; where to look, not conclusions
- account count collapseChange between filings · filing Feb 24, 2026accounts (Item 5.F.2.f) moved from 1,956.0 to 785.0 (-60.0%) between the annual amendments of 2025-01-09 and 2026-02-24; the peer median change was +6.0% (1256 comparable advisers, 1.0th percentile of changes)peers: independent wealth managers, $500M to $1B (1,256) · 1.3% percentile
- advisor count dropChange between filings · filing Feb 24, 2026advisory representatives (Item 5.B.3) moved from 6.0 to 4.0 (-33.0%) between the annual amendments of 2025-01-09 and 2026-02-24; the peer median change was 0.0% (795 comparable advisers, 2.0th percentile of changes)peers: independent wealth managers, $500M to $1B (795) · 1.6% percentile
- RAUM down 25 %Change between filings · filing Feb 24, 2026RAUM (Item 5.F) moved from $936,042,000 to $504,382,000 (-46.0%) between the annual amendments of 2025-01-09 and 2026-02-24; the peer median change was +16.0% (1385 comparable advisers, 0.0th percentile of changes)peers: independent wealth managers, $500M to $1B (1,385) · 0.3% percentile
What changed
consecutive filings, newest first
- Accounts · 1,956 to 785Nov 28, 2025 to Feb 24, 2026
- Advisory employees · 5 to 4Nov 28, 2025 to Feb 24, 2026
- HNW clients · 248 to 88Nov 28, 2025 to Feb 24, 2026
- Employees · 5 to 6Nov 28, 2025 to Feb 24, 2026
- Financial planning clients · 101-250 to 51-100Nov 28, 2025 to Feb 24, 2026
- State-registered IARs · 3 to 4Nov 28, 2025 to Feb 24, 2026
- Discretionary RAUM · $673M to $327MNov 28, 2025 to Feb 24, 2026
- HNW RAUM · $936M to $504MNov 28, 2025 to Feb 24, 2026
- Non-discretionary RAUM · $263M to $177MNov 28, 2025 to Feb 24, 2026
- RAUM · $936M to $504MNov 28, 2025 to Feb 24, 2026
- Advisory employees · 6 to 5May 12, 2025 to Nov 28, 2025
- Employees · 7 to 5May 12, 2025 to Nov 28, 2025
- State-registered IARs · 6 to 3May 12, 2025 to Nov 28, 2025
- Other offices · 5 to 3May 12, 2025 to Nov 28, 2025
- Financial planning clients · 101-250 to 101-250Jan 9, 2025 to May 12, 2025
- Other offices · 0 to 5Jan 9, 2025 to May 12, 2025
- Accounts · 2,096 to 1,956Jan 10, 2024 to Jan 9, 2025
- HNW clients · 269 to 248Jan 10, 2024 to Jan 9, 2025
- Financial planning clients · 251-500 to 101-250Jan 10, 2024 to Jan 9, 2025
- Discretionary RAUM · $605M to $673MJan 10, 2024 to Jan 9, 2025
- HNW RAUM · $810M to $936MJan 10, 2024 to Jan 9, 2025
- Non-discretionary RAUM · $205M to $263MJan 10, 2024 to Jan 9, 2025
- RAUM · $810M to $936MJan 10, 2024 to Jan 9, 2025
- Accounts · 1,845 to 2,096Jan 23, 2023 to Jan 10, 2024
- HNW clients · 252 to 269Jan 23, 2023 to Jan 10, 2024
- Discretionary RAUM · $515M to $605MJan 23, 2023 to Jan 10, 2024
- HNW RAUM · $752M to $810MJan 23, 2023 to Jan 10, 2024
- Non-discretionary RAUM · $237M to $205MJan 23, 2023 to Jan 10, 2024
- RAUM · $752M to $810MJan 23, 2023 to Jan 10, 2024
- Accounts · 1,806 to 1,845Jan 5, 2022 to Jan 23, 2023
- Advisory employees · 5 to 6Jan 5, 2022 to Jan 23, 2023
- HNW clients · 232 to 252Jan 5, 2022 to Jan 23, 2023
- Employees · 6 to 7Jan 5, 2022 to Jan 23, 2023
- Financial planning clients · 101-250 to 251-500Jan 5, 2022 to Jan 23, 2023
- State-registered IARs · 5 to 6Jan 5, 2022 to Jan 23, 2023
- Discretionary RAUM · $550M to $515MJan 5, 2022 to Jan 23, 2023
- HNW RAUM · $752M to $752MJan 5, 2022 to Jan 23, 2023
- Non-discretionary RAUM · $202M to $237MJan 5, 2022 to Jan 23, 2023
- RAUM · $752M to $752MJan 5, 2022 to Jan 23, 2023
- Accounts · 1,628 to 1,806Jan 10, 2021 to Jan 5, 2022
Signals
7 dated events
- Black Coral Financial Advisors, Llc reported RAUM $504.4M, down 46% from $936.0M (2025-11-28 to 2026-02-24)Feb 24, 2026 · RAUM change · derived
- Joseph Michael Gallo left Black Coral Financial Advisors, Llc for Clear Wave Wealth Management, Llc (registered 2025-11-17)Nov 19, 2025 · Advisor changed firm · fact
- Matthew Frank Wilk left Black Coral Financial Advisors, Llc for Clear Wave Wealth Management, Llc (registered 2025-11-17)Nov 19, 2025 · Advisor changed firm · fact
- 2 advisors left Black Coral Financial Advisors, LLC (Chester, NJ) for Clear Wave Wealth Management, LLC on the same dayNov 19, 2025 · Team lift-out · derived
- Black Coral Financial Advisors, Llc reported 5 offices beyond its principal office, up from 0 (2025-01-09 to 2025-05-12)May 12, 2025 · Office count change · derived
- Black Coral Financial Advisors, Llc reported RAUM $752.1M, up 27% from $592.9M (2021-01-10 to 2022-01-05)Jan 5, 2022 · RAUM change · derived
- Black Coral Financial Advisors, Llc reported RAUM $560.0M, up 37% from $410.0M (2017-01-05 to 2018-01-09)Jan 9, 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
- Business email
- corporate.relations@blackcoralfa.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 973-352-8600reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- BLACKCORALFA.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 973-352-8600reportedpublic record, Form ADV, Feb 24, 2026
- Team page
- blackcoralfa.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
- $126Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026