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
Permcap Investment Office
Legal name Permanens Capital L.P.
Latest filing Sep 11, 2026
First filing on the tape Mar 30, 2012 · 29 filings
SEC status approved since Jun 13, 2011
RAUM
$4.0B
reported, Item 5.F
Discretionary
45%
of RAUM
Private clients
72%
$2.9B individuals and HNW
Advisors
4
registered through the firm on IAPD
RAUM per advisor
$1.0B
derived; firm RAUM over IAPD count
Employees
17
6 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
29 filings and snapshots on the tape
RAUM$4.0B as of Aug 7, 2026
Mar 30, 2012$265M then
HNW client RAUM$2.9B as of Aug 7, 2026
Mar 28, 2018$1.5B then
State-registered IARs (5.B.3)4 as of Aug 7, 2026
Mar 30, 20120 then
Employees (5.A)17 as of Aug 7, 2026
Mar 27, 20137 then
Private funds10 as of Aug 7, 2026
Mar 27, 20132 then
RAUM -19% over the last fiscal year-1.4% a year over threeIARs 0 to 4
Practice profile
derived from the filing of Sep 11, 2026; every figure names its basis
Archetypes, each a printed rule
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- UHNW private 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
- $1.0BderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 10derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $74.1MderivedHNW RAUM over HNW clients
- Average account
- $61.8MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 45%derivedof RAUM
- Institutional
- 16%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 4.3derivedItem 5.A over advisors
- Advisors per office
- 1.3derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- -19%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- +70%derived
- Compensation
- percentage of assets, fixed fees, 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 advisers, otherreportedItem 5.G
- Custody
- $79.9M, 9 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)
- 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
- High-net-worth individuals$2.9B81%
- Charitable organizations$633M18%
- Pooled investment vehicles$27.6M0.8%
- Pension and profit-sharing plans$22.4M0.6%
- Individual clients
- 0reported
- HNW clients
- 39reported
- Pension plan clients
- 2reported
- Charitable clients
- 9reported
- Accounts
- 65reported
- Financial planning clients
- 26-50reported
- Wrap fee programs
- noreported
- Custody of client assets
- $79.9M for 9 clientsreported
- Compensation
- % of AUM, fixed, performancereported
- Class basis
- private_client_share=0.72 fund_share=0.01 institutional_share=0.16 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 |
|---|---|---|---|---|
| Alexander Robert Goldfarb | Charleston, Sc | Sep 14, 2021 | 12 y | 0 |
| Connor Carew | Charleston, Sc | Sep 14, 2021 | 12 y | 0 |
| John James Regan | Charleston, Sc | Sep 14, 2021 | 15 y | 0 |
| Olivia Faith May | Charleston, Sc | Aug 17, 2026 | 13 y | 0 |
Advisor movement
1 left, 0 joined in 12 months
net -1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 25% of current headcount1 left over 36 months
Left, latest
- Joshua Hughes Baxa to J.P. Morgan Securities LLCMay 28, 2026 · RIA to wirehouse
- Jeffery Wayne Bruce to Bison Creek Wealth Management LLCAug 3, 2021 · Other
Joined, latest
- Jeffery Wayne Bruce from Edward JonesJul 19, 2021 · Affiliated broker-dealer or bank to independent RIA
Private funds
14 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Permanens Alternatives Master Fund LP | Hedge Fund | $258M | 1 | Mar 28, 2018 |
| Permanens Alternatives Fund LPno longer reported | Hedge Fund | $214M | 8 | Mar 28, 2018 |
| Permanens Non-Agency Rmbs Allocation Fund LP | Private Equity Fund | $186M | 9 | Mar 27, 2014 |
| Permanens Partners Fund, L.P. | Private Equity Fund | $157M | 31 | Mar 27, 2019 |
| Permanens Capital Physical Precious Metals Fund L.P. | Other Private Fund | $107M | 23 | Mar 27, 2013 |
| The Life Fund Ltd.no longer reported | Hedge Fund | $34.5M | 3 | Mar 18, 2015 |
| Permanens Capital High Yield Fund, L.P.no longer reported | Other Private Fund | $28.9M | 1 | Mar 24, 2016 |
| Permanens Capital Floating Rate Fund LP | Other Private Fund | $1.1M | 9 | Mar 27, 2014 |
| Permanens Allocation Fund LLCno longer reported | Hedge Fund | $745,838 | 5 | Mar 27, 2014 |
| Permanens Capital Short Duration High Yield Fund, L.P. | Other Private Fund | $223,673 | 10 | Mar 24, 2016 |
| Permcap Meetup Acquisition LLC | Other Private Fund | $67,718 | 6 | Mar 29, 2022 |
| Permanens Capital Equities Fund, L.P. | Other Private Fund | $12,441 | 8 | Mar 27, 2013 |
| Permanens Capital Defensive Income Fund, L.P. | Other Private Fund | $6,393 | 16 | Mar 24, 2016 |
| Permanens 2022 Dislocation Fund, L.P. | Private Equity Fund | $4,941 | 4 | Mar 30, 2023 |
Owners and control persons
Schedule A and B, latest filing
- James John Regan · Chief Investment Officer And General Partnercontrolsince 05/2011 · owns 50% to 75%
- Saul Joseph Steinberg · Limited Partnercontrolsince 05/2011 · owns 25% to 50%
- Alexandra Casey Earnest · Chief Compliance Officer And Director Of Operationssince 07/2026 · owns less than 5%
- Patrick Michael Mccaffery · Chief Compliance Officer And Chief Operating Officersince 11/2021 · owns less than 5%
- Stephen August Politano · Chief Financial Officersince 11/2020 · owns less than 5%
Related persons
Schedule D 7.A
- Permanens Associates II LLCpooled vehicle sponsory
- Permanens Associates LLCpooled vehicle sponsory
- Permanens Capital Advisors LLCpooled vehicle sponsory
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Charleston, Sc · principal | 4 | 1 | 1 |
Offices
Schedule D 1.F, the 25 largest
- New York, NY2 employees
ADV anomalies
3 against comparable advisers; where to look, not conclusions
- very high RAUM per advisorStatic outlier · filing Sep 11, 2026RAUM per registered advisor of $1,004,387,325 against a peer median of $146,690,280 (1222 comparable advisers, 99.0th percentile, 8.7 robust deviations)peers: independent wealth managers, $1B to $5B (1,222) · 99% percentile
- unusually large average HNW clientStatic outlier · filing Sep 11, 2026HNW RAUM per HNW client of $74,087,062 against a peer median of $3,646,459 (1309 comparable advisers, 100.0th percentile, 34.9 robust deviations)peers: independent wealth managers, $1B to $5B (1,309) · 100% percentile
- unusually large average accountStatic outlier · filing Sep 11, 2026RAUM per account of $61,808,451 against a peer median of $813,262 (1333 comparable advisers, 100.0th percentile, 41.1 robust deviations)peers: independent wealth managers, $1B to $5B (1,333) · 100% percentile
What changed
consecutive filings, newest first
- Financial planning clients · 26-50 to 26-50Aug 7, 2026 to Sep 11, 2026
- Private funds · 10 to unsetAug 7, 2026 to Sep 11, 2026
- Succession · false to unsetAug 7, 2026 to Sep 11, 2026
- Accounts · 46 to 65Dec 8, 2025 to Mar 31, 2026
- Charity clients · 6 to 9Dec 8, 2025 to Mar 31, 2026
- HNW clients · 23 to 39Dec 8, 2025 to Mar 31, 2026
- Pension plan clients · 3 to 2Dec 8, 2025 to Mar 31, 2026
- Assets in custody · $96.1M to $79.9MDec 8, 2025 to Mar 31, 2026
- Employees · 16 to 17Dec 8, 2025 to Mar 31, 2026
- State-registered IARs · 0 to 4Dec 8, 2025 to Mar 31, 2026
- Discretionary RAUM · $2.1B to $1.8BDec 8, 2025 to Mar 31, 2026
- HNW RAUM · $3.1B to $2.9BDec 8, 2025 to Mar 31, 2026
- Non-discretionary RAUM · $2.8B to $2.2BDec 8, 2025 to Mar 31, 2026
- Pension RAUM · $328M to $22.4MDec 8, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · $16.3M to $27.6MDec 8, 2025 to Mar 31, 2026
- RAUM · $4.9B to $4.0BDec 8, 2025 to Mar 31, 2026
- Financial planning clients · 26-50 to 26-50Mar 28, 2025 to Jul 31, 2025
- Accounts · 42 to 46Mar 22, 2024 to Mar 28, 2025
- Advisory employees · 5 to 6Mar 22, 2024 to Mar 28, 2025
- Business name · PERMANENS CAPITAL L.P. to PERMCAP INVESTMENT OFFICEMar 22, 2024 to Mar 28, 2025
- Charity clients · 5 to 6Mar 22, 2024 to Mar 28, 2025
- HNW clients · 21 to 23Mar 22, 2024 to Mar 28, 2025
- Assets in custody · $83.6M to $96.1MMar 22, 2024 to Mar 28, 2025
- Other offices · 1 to 2Mar 22, 2024 to Mar 28, 2025
- Discretionary RAUM · $2.6B to $2.1BMar 22, 2024 to Mar 28, 2025
- HNW RAUM · $2.2B to $3.1BMar 22, 2024 to Mar 28, 2025
- Non-discretionary RAUM · $1.9B to $2.8BMar 22, 2024 to Mar 28, 2025
- Pension RAUM · $267M to $328MMar 22, 2024 to Mar 28, 2025
- Pooled vehicle RAUM · $9.1M to $16.3MMar 22, 2024 to Mar 28, 2025
- RAUM · $4.5B to $4.9BMar 22, 2024 to Mar 28, 2025
- Accounts · 47 to 42Jul 7, 2023 to Mar 22, 2024
- Advisory employees · 4 to 5Jul 7, 2023 to Mar 22, 2024
- HNW clients · 24 to 21Jul 7, 2023 to Mar 22, 2024
- Pension plan clients · 2 to 3Jul 7, 2023 to Mar 22, 2024
- Pooled vehicle clients · 12 to 11Jul 7, 2023 to Mar 22, 2024
- Assets in custody · $88.9M to $83.6MJul 7, 2023 to Mar 22, 2024
- Discretionary RAUM · $2.5B to $2.6BJul 7, 2023 to Mar 22, 2024
- HNW RAUM · $2.0B to $2.2BJul 7, 2023 to Mar 22, 2024
- Non-discretionary RAUM · $1.7B to $1.9BJul 7, 2023 to Mar 22, 2024
- Pension RAUM · $204M to $267MJul 7, 2023 to Mar 22, 2024
Signals
6 dated events
- Joshua Hughes Baxa left Permcap Investment Office for J.P. Morgan Securities Llc (registered 2026-05-01)May 28, 2026 · Advisor changed firm · fact
- William Michael Lehoisky (Chief Financial Officer & Chief Compliance Officer) no longer on Schedule A of Permcap Investment Office (listed 2021-07-30, absent 2022-03-29)Mar 29, 2022 · Control person left · inference
- William Michael Lehoisky (Chief Financial Officer & Chief Compliance Officer) appeared on Schedule A of Permcap Investment OfficeMar 22, 2021 · Control person joined · fact
- James Gary Yannazzo (Chief Financial Officer & Chief Compliance Officer) no longer on Schedule A of Permcap Investment Office (listed 2020-06-17, absent 2021-03-22)Mar 22, 2021 · Control person left · inference
- Permcap Investment Office reported RAUM $4.6B, up 28% from $3.6B (2019-03-27 to 2020-03-30)Mar 30, 2020 · RAUM change · derived
- Permcap Investment Office reported RAUM $3.9B, up 28% from $3.0B (2017-03-30 to 2018-03-28)Mar 28, 2018 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
- Permcap Investment Office · Family Officesshared crd · office
- Permcap Investment Office · Independent Sponsorsshared crd · capital_provider
- Permanens Capital L.P. · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Business email
- clients@permcap.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 212-993-7445reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- LINKEDIN.COM/COMPANY/PERMANENS-CAPITAL-LPreportedpublic record, Form ADV, Sep 18, 2026
- Website
- permcap.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 843 882 7950reportedpublic record, Form ADV, Sep 11, 2026
- Contact form
- permcap.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- permcap.com/leadershipreportedpublished 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
- $1.0Bderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026