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

P••••• C•••••• A•••••••• L••

Former SEC-registered adviserWest Conshohocken, PennsylvaniaCRD 157723SEC 801-72367IAPD
Latest filing Apr 22, 2022
First filing on the tape Apr 3, 2012 · 22 filings
RAUM
$1.6B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
58%
$909M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
14
12 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
20
$204M gross assets
History
22 filings and snapshots on the tape
RAUM$1.6B as of Mar 31, 2022
Apr 3, 2012$183M then
HNW client RAUM$909M as of Mar 31, 2022
Apr 2, 2018$439M then
State-registered IARs (5.B.3)0 as of Mar 31, 2022
Apr 3, 20120 then
Employees (5.A)14 as of Mar 31, 2022
Apr 1, 20135 then
Private funds20 as of Mar 31, 2022
Apr 1, 20162 then
RAUM +14% over the last fiscal year+12% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Apr 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
$17.8MderivedHNW RAUM over HNW clients
Average account
$20.0MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
16%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
+14%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, fixed fees, performance-basedreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for pooled vehicles, selection of other advisersreportedItem 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)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
  • 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$909M58%
  • Pooled investment vehicles$403M26%
  • Charitable organizations$251M16%
Individual clients
n/areported
HNW clients
51reported
Pension plan clients
n/areported
Charitable clients
4reported
Accounts
78reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, 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
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    4 reported on Schedule D 7.B.(1)
    FundTypeGross assetsOwnersFirst reported
    O•• T•••• A••••• D••••••••• L••no longer reportedPrivate Equity Fund$10.6M88Mar 31, 2019
    M••••• F••• Q•• F•••Private Equity Fund$5.0M6Mar 31, 2021
    O•• T•••• H••••••••• L••Private Equity Fund$1.8M19Mar 31, 2019
    O•• T•••• M•••••• L••Private Equity Fund$138,47023Apr 2, 2018
    Owners and control persons
    Schedule A and B, latest filing
    • C••••••• K•••••••• M•••••• · Chief Compliance Officer, Chief Operating Officer, Membercontrol
      since 04/2011 · owns 10% to 25%
    • D••••• M•••• K••••• · Co-Chief Executive Officer, Member, Managercontrol
      since 06/2018 · owns 25% to 50%
    • L•••••• A•••• B•••• · Co-Chief Executive Officer, Chief Investment Officer, Member, Managercontrol
      since 04/2011 · owns 25% to 50%
    • W•••••• R••••••• B•••• · Membercontrol
      since 05/2002 · owns 50% to 75% of P••••• C••••••• L••
    • T•••••• M••••••• H••• · Senior Portfolio Manager, Member
      since 04/2016 · owns 10% to 25%
    Entity owners
    • P•••• C••••••••• M•••• · Member
      indirect · owns 25% to 50% of P••••• C••••••• L••
    • P••••• C••••••• L•• · Member
      direct · owns 10% to 25%
    Related persons
    Schedule D 7.A
    No related person reported.
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Accounts · 72 to 78
      Mar 31, 2021 to Mar 31, 2022
    • Advisory employees · 10 to 12
      Mar 31, 2021 to Mar 31, 2022
    • HNW clients · 47 to 51
      Mar 31, 2021 to Mar 31, 2022
    • Pooled vehicle clients · 21 to 23
      Mar 31, 2021 to Mar 31, 2022
    • Employees · 15 to 14
      Mar 31, 2021 to Mar 31, 2022
    • Private funds · 19 to 20
      Mar 31, 2021 to Mar 31, 2022
    • Discretionary RAUM · $1.4B to $1.6B
      Mar 31, 2021 to Mar 31, 2022
    • HNW RAUM · $767M to $909M
      Mar 31, 2021 to Mar 31, 2022
    • Pooled vehicle RAUM · $371M to $403M
      Mar 31, 2021 to Mar 31, 2022
    • RAUM · $1.4B to $1.6B
      Mar 31, 2021 to Mar 31, 2022
    • Accounts · 60 to 72
      Jun 30, 2020 to Mar 31, 2021
    • HNW clients · 37 to 47
      Jun 30, 2020 to Mar 31, 2021
    • Pooled vehicle clients · 19 to 21
      Jun 30, 2020 to Mar 31, 2021
    • Custody of client assets · true to false
      Jun 30, 2020 to Mar 31, 2021
    • Private funds · 16 to 19
      Jun 30, 2020 to Mar 31, 2021
    • Discretionary RAUM · $1.1B to $1.4B
      Jun 30, 2020 to Mar 31, 2021
    • HNW RAUM · $525M to $767M
      Jun 30, 2020 to Mar 31, 2021
    • Pooled vehicle RAUM · $375M to $371M
      Jun 30, 2020 to Mar 31, 2021
    • RAUM · $1.1B to $1.4B
      Jun 30, 2020 to Mar 31, 2021
    • Accounts · 59 to 60
      Feb 11, 2020 to Mar 30, 2020
    • Advisory employees · 9 to 10
      Feb 11, 2020 to Mar 30, 2020
    • Charity clients · 5 to 4
      Feb 11, 2020 to Mar 30, 2020
    • HNW clients · 40 to 37
      Feb 11, 2020 to Mar 30, 2020
    • Pooled vehicle clients · 14 to 19
      Feb 11, 2020 to Mar 30, 2020
    • Assets in custody · $143M to $0
      Feb 11, 2020 to Mar 30, 2020
    • Employees · 13 to 15
      Feb 11, 2020 to Mar 30, 2020
    • Private funds · 12 to 16
      Feb 11, 2020 to Mar 30, 2020
    • Discretionary RAUM · $1.1B to $1.1B
      Feb 11, 2020 to Mar 30, 2020
    • HNW RAUM · $579M to $525M
      Feb 11, 2020 to Mar 30, 2020
    • Pooled vehicle RAUM · $346M to $375M
      Feb 11, 2020 to Mar 30, 2020
    • RAUM · $1.1B to $1.1B
      Feb 11, 2020 to Mar 30, 2020
    • Other offices · 1 to 0
      Aug 8, 2019 to Feb 11, 2020
    • Accounts · 41 to 59
      Apr 2, 2018 to Mar 31, 2019
    • Advisory employees · 8 to 9
      Apr 2, 2018 to Mar 31, 2019
    • HNW clients · 31 to 40
      Apr 2, 2018 to Mar 31, 2019
    • Pooled vehicle clients · 5 to 14
      Apr 2, 2018 to Mar 31, 2019
    • Assets in custody · $28.3M to $143M
      Apr 2, 2018 to Mar 31, 2019
    • Employees · 11 to 13
      Apr 2, 2018 to Mar 31, 2019
    • Private funds · 3 to 12
      Apr 2, 2018 to Mar 31, 2019
    • Discretionary RAUM · $868M to $1.1B
      Apr 2, 2018 to Mar 31, 2019
    Signals
    10 dated events
    • M•••••• H••• T••••• left P••••• C•••••• A•••••••• L•• for C••••• P••••••• L•• (registered 2022-05-13)
      May 23, 2022 · Advisor changed firm · fact
    • M••• K••••• D•••• left P••••• C•••••• A•••••••• L•• for C••••• P••••••• L•• (registered 2022-05-24)
      May 23, 2022 · Advisor changed firm · fact
    • W•••••• T••••••• C••••• left P••••• C•••••• A•••••••• L•• for C••••• P••••••• L•• (registered 2022-05-16)
      May 11, 2022 · Advisor changed firm · fact
    • K••••••• F• F•••• left P••••• C•••••• A•••••••• L•• for C••••• P••••••• L•• (registered 2022-05-13)
      May 11, 2022 · Advisor changed firm · fact
    • P••••• C•••••• A•••••••• L••'s advisors moved to C••••• P••••••• L•• (West Conshohocken, PA): 5 of 4 registered, within 12 days
      May 11, 2022 · Firm absorbed (people side) · derived
    • A••• B•••• L••••• left P••••• C•••••• A•••••••• L•• for C••••• P••••••• L•• (registered 2022-05-25)
      May 11, 2022 · Advisor changed firm · fact
    • P••••• C•••••• A•••••••• L•• reported RAUM $1.4B, up 27% from $1.1B (2020-06-30 to 2021-03-31)
      Mar 31, 2021 · RAUM change · derived
    • C. Ryan Mclaughlin (Vice President, Member) no longer on Schedule A of P••••• C•••••• A•••••••• L•• (listed 2020-06-30, absent 2021-03-31)
      Mar 31, 2021 · Control person left · inference
    • Brown Richard Worley (Member) appeared on Schedule A of P••••• C•••••• A•••••••• L••
      Mar 30, 2020 · Control person joined · fact
    • P••••• C•••••• A•••••••• L•• reported RAUM $1.1B, up 28% from $867.5M (2018-04-02 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