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

S•• P••••••• • C••

Former SEC-registered adviserMill Valley, CaliforniaCRD 157279SEC 801-73719IAPD
Latest filing Jan 22, 2019
First filing on the tape Feb 14, 2012 · 13 filings
RAUM
$3.3B
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
10
1 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
2
$3.2B gross assets
History
13 filings and snapshots on the tape
RAUM$3.3B as of Jan 22, 2019
Apr 1, 2013$11B then
HNW client RAUM$0 as of Jan 22, 2019
Mar 30, 2018$0 then
State-registered IARs (5.B.3)0 as of Jan 22, 2019
Apr 1, 20130 then
Employees (5.A)10 as of Jan 22, 2019
Apr 1, 201325 then
Private funds2 as of Jan 22, 2019
Apr 1, 20137 then
RAUM -53% over the last fiscal year-27% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Jan 22, 2019; 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
$821MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
1.5%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
-53%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
Custody
$3.2B, 2 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)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$3.2B99%
  • Charitable organizations$48.2M1.5%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
1reported
Accounts
4reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
$3.2B for 2 clientsreported
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
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Every departureEvery arrival
      Private funds
      10 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      S•• P••••••• I•• L•••Hedge Fund$64.8M146Feb 14, 2012
      H•••• E••••• F••• V••• L•••no longer reportedReal Estate Fund$40.7M3Feb 14, 2012
      S•• I• C••••••••• P••••••••• L•••no longer reportedHedge Fund$34.5M6Feb 14, 2012
      S•• P••••••• • C• L••••••••• T••••Hedge Fund$7.7M329Feb 27, 2019
      H•••• E••••• F••• I•• L•••no longer reportedReal Estate Fund$5.2M3Feb 14, 2012
      S•• F•••••••• P•••••••• L•••Hedge Fund$4.4M49Feb 14, 2012
      H•••• E••••• F••• I••• L•••no longer reportedReal Estate Fund$4.0M3Feb 14, 2012
      S•• A••••••••• L•••no longer reportedPrivate Equity Fund$500,00014Feb 14, 2012
      H•••• E••••• F••• I• L•••no longer reportedReal Estate Fund$200,0003Feb 14, 2012
      H•••• E••••• F••• V• L•••no longer reportedReal Estate Fund$03Feb 14, 2012
      Owners and control persons
      Schedule A and B, latest filing
      • S•••••• J•••• H••••• · Managing Directorcontrol
        since 01/1990 · owns 50% to 75%
      • W•••••••• E••• J••••• · Managing Directorcontrol
        since 03/2013 · owns 50% to 75%
      • S••••• K••• M•••• · Chief Financial Officer & Chief Compliance Officer
        since 05/2005 · owns less than 5%
      Related persons
      Schedule D 7.A
      • S• A••••••• P•••••••• L•••
        pooled vehicle sponsory
      • S•• A••••••• C••••
        pooled vehicle sponsory
      • S•• A••••••• P•••••••• L•••
        pooled vehicle sponsory
      • S•• P••••••• • C••• L•••
        pooled vehicle sponsory
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Accounts · 5 to 4
        Mar 30, 2018 to Jan 22, 2019
      • Advisory employees · 12 to 1
        Mar 30, 2018 to Jan 22, 2019
      • Pooled vehicle clients · 4 to 3
        Mar 30, 2018 to Jan 22, 2019
      • Assets in custody · $6.9B to $3.2B
        Mar 30, 2018 to Jan 22, 2019
      • Employees · 26 to 10
        Mar 30, 2018 to Jan 22, 2019
      • Discretionary RAUM · $7.0B to $3.3B
        Mar 30, 2018 to Jan 22, 2019
      • Pooled vehicle RAUM · $6.9B to $3.2B
        Mar 30, 2018 to Jan 22, 2019
      • RAUM · $7.0B to $3.3B
        Mar 30, 2018 to Jan 22, 2019
      • Accounts · 6 to 5
        Mar 31, 2017 to Mar 30, 2018
      • Charity clients · unset to 1.0
        Mar 31, 2017 to Mar 30, 2018
      • Corporate clients · unset to 0.0
        Mar 31, 2017 to Mar 30, 2018
      • HNW clients · unset to 0.0
        Mar 31, 2017 to Mar 30, 2018
      • Individual clients · unset to 0.0
        Mar 31, 2017 to Mar 30, 2018
      • Pension plan clients · unset to 0.0
        Mar 31, 2017 to Mar 30, 2018
      • Pooled vehicle clients · unset to 4.0
        Mar 31, 2017 to Mar 30, 2018
      • Assets in custody · $7.9B to $6.9B
        Mar 31, 2017 to Mar 30, 2018
      • Employees · 28 to 26
        Mar 31, 2017 to Mar 30, 2018
      • Other offices · unset to 0.0
        Mar 31, 2017 to Mar 30, 2018
      • Discretionary RAUM · $8.0B to $7.0B
        Mar 31, 2017 to Mar 30, 2018
      • HNW RAUM · unset to 0.0
        Mar 31, 2017 to Mar 30, 2018
      • Individual RAUM · unset to 0.0
        Mar 31, 2017 to Mar 30, 2018
      • Pension RAUM · unset to 0.0
        Mar 31, 2017 to Mar 30, 2018
      • Pooled vehicle RAUM · unset to 6941400000.0
        Mar 31, 2017 to Mar 30, 2018
      • RAUM · $8.0B to $7.0B
        Mar 31, 2017 to Mar 30, 2018
      • Accounts · 8 to 6
        Mar 30, 2016 to Mar 31, 2017
      • Assets in custody · $8.2B to $7.9B
        Mar 30, 2016 to Mar 31, 2017
      • Employees · 27 to 28
        Mar 30, 2016 to Mar 31, 2017
      • Discretionary RAUM · $8.3B to $8.0B
        Mar 30, 2016 to Mar 31, 2017
      • RAUM · $8.3B to $8.0B
        Mar 30, 2016 to Mar 31, 2017
      • Assets in custody · $9.3B to $8.2B
        Jan 27, 2016 to Mar 30, 2016
      • Discretionary RAUM · $9.4B to $8.3B
        Jan 27, 2016 to Mar 30, 2016
      • RAUM · $9.4B to $8.3B
        Jan 27, 2016 to Mar 30, 2016
      • Advisory employees · 13 to 12
        Mar 31, 2015 to May 5, 2015
      • Assets in custody · $9.7B to $9.3B
        Mar 31, 2015 to May 5, 2015
      • Employees · 28 to 27
        Mar 31, 2015 to May 5, 2015
      • Discretionary RAUM · $9.8B to $9.4B
        Mar 31, 2015 to May 5, 2015
      • RAUM · $9.8B to $9.4B
        Mar 31, 2015 to May 5, 2015
      • Accounts · 13 to 8
        Mar 31, 2014 to Mar 31, 2015
      • Advisory employees · 11 to 13
        Mar 31, 2014 to Mar 31, 2015
      • Assets in custody · $11B to $9.7B
        Mar 31, 2014 to Mar 31, 2015
      Signals
      1 dated events
      • S•• P••••••• • C•• reported RAUM $3.3B, down 53% from $7.0B (2018-03-30 to 2019-01-22)
        Jan 22, 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
      Across the graphs

      S•• P••••••• • C•• 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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