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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SEC-registered adviser

M••••••• I••••••••• A•••••••• L••

Asset manager (funds and pooled vehicles)Wynnewood, PennsylvaniaCRD 159045SEC 801-72761website IAPD

Latest filing Sep 1, 2026

First filing on the tape Jan 24, 2012 · 41 filings

SEC status approved since Oct 5, 2011

RAUM

$110M

reported, Item 5.F

Discretionary

77%

of RAUM

Private clients

1.8%

$2.0M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$55.0M

derived; firm RAUM over IAPD count

Employees

3 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

41 filings and snapshots on the tape

RAUM$110M as of Apr 28, 2026

Mar 29, 2012$436M then

HNW client RAUM$2.0M as of Apr 28, 2026

Apr 29, 2025$2.0M then

State-registered IARs (5.B.3)2 as of Apr 28, 2026

Mar 29, 20120 then

Employees (5.A)4 as of Apr 28, 2026

Mar 28, 20136 then

Private funds9 as of Apr 28, 2026

Mar 29, 201222 then

RAUM -45% over the last fiscal year-32% a year over threeIARs 2 to 2

Practice profile

derived from the filing of Sep 1, 2026; every figure names its basis

RAUM per advisor: $55.0MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client: $285,714derivedHNW RAUM over HNW clients
Average account: $7.3MderivedRAUM over accounts (5.F.2.f)
Discretionary: 77%derivedof RAUM
Institutional: 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 2.0derivedItem 5.A over advisors
Advisors per office: 2.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year: -45%derivedbetween the last two annual amendments
Advisor growth, one year: +0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year: unknownderived
Compensation: percentage of assets, fixed fees, performance-based, otherreportedItem 5.E
Advisory activities: portfolio management for individuals, portfolio management for pooled vehiclesreportedItem 5.G
Custody: $28.8M, 6 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)
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)
an independent public accountant performs a surprise examination (9.C.1)
marketing includes hypothetical performance (5.L.3)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Pooled investment vehicles$108M98%
High-net-worth individuals$2.0M1.8%

Individual clients: n/areported
HNW clients: 7reported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 15reported
Financial planning clients: n/areported
Wrap fee programs: noreported
Custody of client assets: $28.8M for 6 clientsreported
Compensation: % of AUM, fixed, performancereported
Class basis: private_client_share=0.02 fund_share=0.98 institutional_share=0.0 related_bd=false related_bank=true bd_reps=1.0derived

Advisors registered through the firm

2 on IAPD today, longest tenure first

Name	Branch	Here since	In industry	Prior firms
W•••••• A••• L••••••	Wynnewood, Pa	Oct 6, 2023	39 y	3
D•••• A••••• C••••••	Wynnewood, Pa	Oct 15, 2024	17 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 headcount0 left over 36 months

Left, latest

none on the tape

Joined, latest

W•••••• A••• L•••••• from M••••••• P•••••• W•••••• L••
Oct 6, 2023 · Other

Every departure Every arrival

Private funds

29 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
M•• H•••••••• L••	Private Equity Fund	$177M	3	Mar 29, 2018
M••• M•• I••••••••• L••	Private Equity Fund	$47.9M	3	Mar 29, 2018
C••••••••• E••••• P•••••••• L•••no longer reported	Private Equity Fund	$19.8M	28	Jan 24, 2012
C••••••• E•••••••• F••• Q• L•••no longer reported	Private Equity Fund	$13.6M	114	Jan 24, 2012
M•• A•••••• L••no longer reported	Private Equity Fund	$10.8M	1	Mar 29, 2018
M••••••• C••• D•• S•• P•••••••• L•••	Real Estate Fund	$8.1M	5	Mar 28, 2016
C•••••••• C••••• P••••••• I•• L•••no longer reported	Private Equity Fund	$6.0M	93	Jan 24, 2012
M••••••• T••• I••••••••• L••	Venture Capital Fund	$5.7M	10	Mar 30, 2023
C•• S•••••••• F•••••• F••• Q• L•••no longer reported	Private Equity Fund	$5.3M	35	Jan 24, 2012
C•• S•••••••• F•••••• F•••• L•••no longer reported	Private Equity Fund	$2.4M	20	Jan 24, 2012
C••••••••• C•••••• F•••• L•••no longer reported	Private Equity Fund	$1.2M	98	Jan 24, 2012
C•• P••••••• F•••• L•••	Private Equity Fund	$1.2M	52	Jan 24, 2012
M••••••• S••••••••• P•••••••• L•••	Private Equity Fund	$54,326	23	Mar 28, 2014
M••••••• S•••••• O••••••••• F•••• L•••	Private Equity Fund	$16,579	8	Mar 28, 2014
C•• P•••••• E••••• P••••••• X••••••• L•••no longer reported	Private Equity Fund	$0	99	Jan 24, 2012
C•••••• C•••••• F••• I••• L•••no longer reported	Private Equity Fund	$0	104	Jan 24, 2012
C•• D••••••••• O••••••••• F••• Q• L•••no longer reported	Private Equity Fund	$0	60	Jan 24, 2012
C•••••• C•••••• F••• I•• L•••no longer reported	Private Equity Fund	$0	5	Jan 24, 2012
C•••••• I•• L•••no longer reported	Private Equity Fund	$0	57	Jan 24, 2012
C•• S•••••••• P•••••• E••••• F••• I•• L•••	Private Equity Fund	$0	10	Jan 24, 2012
C•• M•••••••• D••• F••• Q• L•••	Private Equity Fund	$0	22	Jan 24, 2012
C•• D••••••••• O••••••••• F•••• L•••no longer reported	Private Equity Fund	$0	56	Jan 24, 2012
C••••••••• P••••••• I•• L•••no longer reported	Private Equity Fund	$0	66	Jan 24, 2012
C•• S•••••••• P•••••• E••••• F••• I•••• L•••	Private Equity Fund	$0	14	Jan 24, 2012
C•• M•••••••• D••• F•••• L•••	Private Equity Fund	$0	11	Jan 24, 2012
C•• P•••••• E••••• P••••••• X••••• L•••no longer reported	Private Equity Fund	$0	27	Jan 24, 2012
C•• S•••••••• P•••••• E••••• F••• Q• L•••no longer reported	Private Equity Fund	$0	146	Jan 24, 2012
C•••••• P•••••••• E••••• P••••••• Q• L•••no longer reported	Private Equity Fund	$0	153	Jan 24, 2012
C•• S•••••••• P•••••• E••••• F•••• L•••no longer reported	Private Equity Fund	$0	16	Jan 24, 2012

Owners and control persons

Schedule A and B, latest filing

C••••••• D••••• A••••• · Vice President, Secretary, Chief Operations Officercontrol
since 08/2011 · owns less than 5%
L••••••• W••••••• A••• · President, Chief Executive Officercontrol
since 08/2011 · owns less than 5%
C••••••• D••••• A••••• · Member/Partner And Minority Ownercontrol
since 08/2011 · owns F of M••••••• I••••••••• P•••••••• L••
L••••••• W••••••• A••• · Managing Membercontrol
since 08/2011 · owns 75% or more of M••••••• I••••••••• P•••••••• L••
C•••••••• A••••••••• C• · Vice President
since 08/2015 · owns less than 5%
R••••••••• D••••• M•••• · Chief Compliance Officer
since 04/2021 · owns less than 5%
R••••••••• W••••••• J• · Treasurer And Vice President, Chief Financial Officer
since 03/2022 · owns less than 5%

Entity owners

M••••••• I••••••••• P•••••••• L•• · Sole Managing Member - 100% Owner
direct · owns 75% or more

Related persons

Schedule D 7.A

C•• F••• A•••••••• L••
investment advisernRAUM $814,325
M••••••• I••••••••• P•••••••• L••
pooled vehicle sponsory
M••••••• S••••••••• L••
broker-dealerreal estaten
M••••• B•• P•••• G•• L••
n
M••••• C•••••••• W••• G•• L••
n
M••••• C••••••••• G•• L••
n
M••••• C•••••••• G•• L••
n
M••••• E•••• R•••• J• G•• L••
n
M••••• F•••••• G•• L••
n
M••••• G••••• G•• L••
n
M••••• L••••• G•••• G•• L••
n
M••••• M•••••• G•• L••
n
M••••• M•••••••• G•• L••
n
M••••• M••••• G•• L••
n
M••••• M••••••••• F••• I•• G•• L••
pooled vehicle sponsorn
M••••• R••••• A•••••••• L••
investment adviserpooled vehicle sponsornRAUM $99.3M
M••••• R••••• I••••••••• P•••••••• L••
pooled vehicle sponsorn
M••••• R••••• V•••••••• L••
n
M••••• S•••••• G•• L••
n
M••••• S•••••••• G•• L••
n
M•• R••••••••• M••••••••• L•• A•• M•• R••••••••• H•••••••• L••
investment companyn

Advisers that list M••••••• I••••••••• A•••••••• L•• as a related person

Office movement

IAPD branch city; joins and departures in 12 months

Office	Advisors	Joined	Left	Teams out	Forming
Wynnewood, Pa · principal	2	0	0

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

ADV anomalies

3 against comparable advisers; where to look, not conclusions

affiliate changedChange between filings · filing Sep 1, 2026
bank affiliate (Item 7.A.6): no on the filing of 2026-04-28, yes on the filing of 2026-09-01
peers: asset managers, $100M to $500M (1,567)
RAUM down 25 %Change between filings · filing Apr 28, 2026
RAUM (Item 5.F) moved from $200,838,563 to $109,927,979 (-45.0%) between the annual amendments of 2025-04-29 and 2026-04-28; the peer median change was +4.0% (1148 comparable advisers, 4.0th percentile of changes)
peers: asset managers, $100M to $500M (1,148) · 4.2% percentile
discretionary share shiftChange between filings · filing Apr 28, 2026
discretionary share of RAUM moved from 22.0% to 77.0% between the annual amendments of 2025-04-29 and 2026-04-28
peers: asset managers, $100M to $500M (1,567)

How anomalies are measured

What changed

consecutive filings, newest first

Financial planning clients · to unset
Apr 28, 2026 to Sep 1, 2026
Private funds · 9 to unset
Apr 28, 2026 to Sep 1, 2026
Related bank · false to true
Apr 28, 2026 to Sep 1, 2026
Succession · false to unset
Apr 28, 2026 to Sep 1, 2026
Assets in custody · $28.7M to $28.8M
Mar 30, 2026 to Apr 28, 2026
Discretionary RAUM · $84.4M to $84.4M
Mar 30, 2026 to Apr 28, 2026
Non-discretionary RAUM · $25.4M to $25.5M
Mar 30, 2026 to Apr 28, 2026
Pooled vehicle RAUM · $108M to $108M
Mar 30, 2026 to Apr 28, 2026
RAUM · $110M to $110M
Mar 30, 2026 to Apr 28, 2026
Advisory employees · 4 to 3
Nov 12, 2025 to Mar 30, 2026
BD registered reps · 2 to 1
Nov 12, 2025 to Mar 30, 2026
HNW clients · 6 to 7
Nov 12, 2025 to Mar 30, 2026
Assets in custody · $44.4M to $28.7M
Nov 12, 2025 to Mar 30, 2026
Employees · 5 to 4
Nov 12, 2025 to Mar 30, 2026
Discretionary RAUM · $44.3M to $84.4M
Nov 12, 2025 to Mar 30, 2026
Non-discretionary RAUM · $156M to $25.4M
Nov 12, 2025 to Mar 30, 2026
Pooled vehicle RAUM · $199M to $108M
Nov 12, 2025 to Mar 30, 2026
RAUM · $201M to $110M
Nov 12, 2025 to Mar 30, 2026
Accounts · 9 to 15
Jul 19, 2024 to Apr 29, 2025
Advisory employees · 6 to 4
Jul 19, 2024 to Apr 29, 2025
BD registered reps · 1 to 2
Jul 19, 2024 to Apr 29, 2025
HNW clients · unset to 6.0
Jul 19, 2024 to Apr 29, 2025
Assets in custody · $67.5M to $44.4M
Jul 19, 2024 to Apr 29, 2025
Employees · 6 to 5
Jul 19, 2024 to Apr 29, 2025
Insurance-licensed employees · 1 to 0
Jul 19, 2024 to Apr 29, 2025
Financial planning clients · unset to
Jul 19, 2024 to Apr 29, 2025
State-registered IARs · 1 to 2
Jul 19, 2024 to Apr 29, 2025
Private funds · 7 to 9
Jul 19, 2024 to Apr 29, 2025
Discretionary RAUM · $69.0M to $44.3M
Jul 19, 2024 to Apr 29, 2025
HNW RAUM · unset to 2000000.0
Jul 19, 2024 to Apr 29, 2025
Non-discretionary RAUM · $176M to $156M
Jul 19, 2024 to Apr 29, 2025
Pooled vehicle RAUM · $245M to $199M
Jul 19, 2024 to Apr 29, 2025
RAUM · $245M to $201M
Jul 19, 2024 to Apr 29, 2025
Related broker-dealer · true to false
Jul 19, 2024 to Apr 29, 2025
Assets in custody · $69.1M to $67.5M
Mar 29, 2024 to Jun 14, 2024
Discretionary RAUM · $69.1M to $69.0M
Mar 29, 2024 to Jun 14, 2024
Non-discretionary RAUM · $177M to $176M
Mar 29, 2024 to Jun 14, 2024
Pooled vehicle RAUM · $246M to $245M
Mar 29, 2024 to Jun 14, 2024
RAUM · $246M to $245M
Mar 29, 2024 to Jun 14, 2024
Accounts · 13 to 9
Oct 6, 2023 to Mar 29, 2024

Signals

5 dated events

Tucker John Adams (Cfo, Treasurer, Vice President) no longer on Schedule A of M••••••• I••••••••• A•••••••• L•• (listed 2021-09-28, absent 2022-03-30)
Mar 30, 2022 · Control person left · inference
J William Romanelli (Cfo, Treasurer And Vice President) appeared on Schedule A of M••••••• I••••••••• A•••••••• L••
Mar 30, 2022 · Control person joined · fact
M••••••• I••••••••• A•••••••• L•• reported RAUM $405.0M, up 37% from $296.6M (2021-05-03 to 2021-09-28)
Sep 28, 2021 · RAUM change · derived
Alan Richard Mitchell (Chief Compliance Officer, General Counsel, Vice President And Secretary) no longer on Schedule A of M••••••• I••••••••• A•••••••• L•• (listed 2021-04-29, absent 2021-05-03)
May 3, 2021 · Control person left · inference
M••••••• I••••••••• A•••••••• L•• reported RAUM $297.3M, up 84% from $161.2M (2019-03-29 to 2020-03-30)
Mar 30, 2020 · RAUM change · derived

Across DFX

shared identifiers only, never a name match

M••••••• I••••••••• A•••••••• L•• · Independent Sponsors
shared crd · capital_provider
M••••••• I••••••••• A•••••••• L•• · Private Equity
shared crd · organization
M••••••• I••••••••• A•••••••• L•• · Venture Capital
shared crd · organization

How to reach

public business contact points only, each with its source

Firm profile: H••••://WWW.LINKEDIN.COM/COMPANY/M•••••••-INVESTMENT-ADVISORreportedpublic record, Form ADV, Sep 18, 2026
Website: H••••://WWW.M•••••••CO.COMreportedpublic record, Form ADV, Sep 18, 2026
Principal office phone: 610-896-3000reportedpublic record, Form ADV, Sep 1, 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: $55.0Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026

Across the graphs

M••••••• I••••••••• A•••••••• L•• 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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