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

A••••• V•••••••• L•••

Former SEC-registered adviserBurlington, MassachusettsCRD 160505SEC 801-73541websiteIAPD
Legal name A••••• V•••••••• L•••••• P•••••••••
Latest filing Mar 26, 2026
First filing on the tape Feb 13, 2012 · 28 filings
SEC status approved since Feb 23, 2012
RAUM
$154M
reported, Item 5.F
Discretionary
99%
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
6
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
6
reported on Schedule D
History
28 filings and snapshots on the tape
RAUM$154M as of Mar 26, 2026
Apr 1, 2013$866M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 26, 2026
Apr 1, 20130 then
Employees (5.A)6 as of Mar 26, 2026
Apr 1, 201323 then
Private funds6 as of Mar 26, 2026
Apr 1, 20138 then
RAUM -39% over the last fiscal year-31% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 26, 2026; 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
$25.6MderivedRAUM over accounts (5.F.2.f)
Discretionary
99%derivedof RAUM
Institutional
0.0%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
-39%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
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
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$154M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
6reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
noreported
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
      Private funds
      17 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      A••••• R••• E••••• P••••••• F••• I••••• L•••••• P•••••••••Real Estate Fund$101M24Mar 31, 2014
      A••••• R••• E••••• P••••••• F••• I••••• L•••••• P•••••••••Real Estate Fund$83.4M15Mar 31, 2014
      A••••• R••• E••••• P••••••• F••• I•• L•••Real Estate Fund$40.2M6Mar 29, 2019
      A••••• R••• E••••• P••••••• S•••••••• P••••••• F••• I••• L•Real Estate Fund$39.6M3Mar 31, 2014
      A••••• 1•• M•••••••• C••••••••• L•no longer reportedReal Estate Fund$33.6M3Mar 30, 2020
      A••••• R••• E••••• P••••••• S•••••••• P••••••• F••• I•• L•••Real Estate Fund$29.7M2Mar 29, 2019
      A••••• R••• E••••• P••••••• T••••••••• P••••••• F••• I•• L•••Real Estate Fund$15.4M27Feb 13, 2012
      A••••• R••• E••••• P•••••••• L•••Real Estate Fund$14.9M3Feb 13, 2012
      A••••• R••• E••••• P••••••• I•• L•••Real Estate Fund$8.6M5Feb 13, 2012
      A••••• 6• E••• 1••• C••••••••• L•••Real Estate Fund$6.8M1Mar 30, 2020
      A••••• R••• E••••• P••••••• T•••••• P••••••• F••• I•• L•••Real Estate Fund$3.3M14Feb 13, 2012
      A••••• R••• E••••• P••••••• S•••••••• P••••••• F••• I•• L•••Real Estate Fund$1.6M2Feb 13, 2012
      A••••• R••• E••••• P••••••• P••••••• F••• I•••• L•••Real Estate Fund$755,0642Feb 13, 2012
      A••••• R••• E••••• P••••••• C••••••• S•••••••• P••••••• F••• I•• L•••Real Estate Fund$363,7472Feb 13, 2012
      A••••• R••• E••••• P••••••• C••••••• S•••••••• P••••••• F••• I••• L•••Real Estate Fund$220,9643Mar 31, 2014
      A••••• R••• E••••• P••••••• C••••••• S•••••••• P••••••• F••• I•• L•••Real Estate Fund$4,1232Mar 29, 2019
      A••••• R••• E••••• P••••••• P••••••• F•••• L•••Real Estate Fund$011Feb 13, 2012
      Owners and control persons
      Schedule A and B, latest filing
      • D••••••••• E••••• · Partner, Cfo, Ccocontrol
        since 11/2008 · owns 25% to 50%
      • P•••••• M••• · Partnercontrol
        since 12/2004 · owns 25% to 50%
      • Z••••• M••••• · Partnercontrol
        since 12/2004 · owns 25% to 50%
      Entity owners
      • A••••• V••••••• G•• L•• · General Partner
        direct · owns less than 5%
      Related persons
      Schedule D 7.A
      • A••••• C•••••• C••••••• S•••••••• I• G•• L•
        pooled vehicle sponsorn
      • A••••• C•••••• C••••••• S•••••••• I•• U••
        pooled vehicle sponsorn
      • A••••• C•••••• C••••••• S•••••••• I•• G•• L•
        pooled vehicle sponsorn
      • A••••• C•••••• C••••••• S•••••••• I••• U••
        pooled vehicle sponsorn
      • A••••• C•••••• C••••••• S•••••••• I• G•• L•
        pooled vehicle sponsorn
      • A••••• C•••••• C••••••• S•••••••• I•• U••
        pooled vehicle sponsorn
      • A••••• C•••••• C•••••••• G• I•• L••
        pooled vehicle sponsorn
      • A••••• C•••••• G• I•• L••
        pooled vehicle sponsorn
      • A••••• C•••••• G• I••• L••
        pooled vehicle sponsorn
      • A••••• C•••••• G• I•• L••
        pooled vehicle sponsorn
      • A••••• C•••••• I•••• L••
        pooled vehicle sponsorn
      • A••••• C•••••• I•• L•
        pooled vehicle sponsorn
      • A••••• C•••••• I••• L•
        pooled vehicle sponsorn
      • A••••• C•••••• I•• L•••
        pooled vehicle sponsorn
      • A••••• C•••••• M••••• F••• G• I•• L••
        pooled vehicle sponsorn
      • A••••• C•••••• M••••• F••• G• I••• L••
        pooled vehicle sponsorn
      • A••••• C•••••• P••••••• I•• L•
        pooled vehicle sponsorn
      • A••••• C•••••• S•••••••• I•• L••
        pooled vehicle sponsorn
      • A••••• C•••••• S•••••••• I••• L••
        pooled vehicle sponsorn
      • A••••• C•••••• S•••••••• I•• L••
        pooled vehicle sponsorn
      • D•••••••• • A••••••••• L••
        insurancen
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Accounts · 8 to 6
        Mar 24, 2025 to Mar 26, 2026
      • Advisory employees · 4 to 3
        Mar 24, 2025 to Mar 26, 2026
      • Pooled vehicle clients · 8 to 6
        Mar 24, 2025 to Mar 26, 2026
      • Employees · 8 to 6
        Mar 24, 2025 to Mar 26, 2026
      • Private funds · 8 to 6
        Mar 24, 2025 to Mar 26, 2026
      • Discretionary RAUM · $246M to $153M
        Mar 24, 2025 to Mar 26, 2026
      • Non-discretionary RAUM · $5.9M to $1.2M
        Mar 24, 2025 to Mar 26, 2026
      • Pooled vehicle RAUM · $252M to $154M
        Mar 24, 2025 to Mar 26, 2026
      • RAUM · $252M to $154M
        Mar 24, 2025 to Mar 26, 2026
      • Accounts · 15 to 8
        Mar 26, 2024 to Mar 24, 2025
      • Advisory activities · 2 to 1
        Mar 26, 2024 to Mar 24, 2025
      • Corporate clients · 1.0 to unset
        Mar 26, 2024 to Mar 24, 2025
      • Pooled vehicle clients · 14 to 8
        Mar 26, 2024 to Mar 24, 2025
      • Employees · 9 to 8
        Mar 26, 2024 to Mar 24, 2025
      • Financial planning clients · unset to
        Mar 26, 2024 to Mar 24, 2025
      • Private funds · 14 to 8
        Mar 26, 2024 to Mar 24, 2025
      • Discretionary RAUM · $324M to $246M
        Mar 26, 2024 to Mar 24, 2025
      • Non-discretionary RAUM · $7.0M to $5.9M
        Mar 26, 2024 to Mar 24, 2025
      • Pooled vehicle RAUM · $331M to $252M
        Mar 26, 2024 to Mar 24, 2025
      • RAUM · $331M to $252M
        Mar 26, 2024 to Mar 24, 2025
      • Accounts · 17 to 15
        Jan 24, 2024 to Mar 26, 2024
      • Advisory employees · 5 to 4
        Jan 24, 2024 to Mar 26, 2024
      • Pooled vehicle clients · 16 to 14
        Jan 24, 2024 to Mar 26, 2024
      • Employees · 12 to 9
        Jan 24, 2024 to Mar 26, 2024
      • Private funds · 16 to 14
        Jan 24, 2024 to Mar 26, 2024
      • Discretionary RAUM · $462M to $324M
        Jan 24, 2024 to Mar 26, 2024
      • Non-discretionary RAUM · $9.0M to $7.0M
        Jan 24, 2024 to Mar 26, 2024
      • Pooled vehicle RAUM · $471M to $331M
        Jan 24, 2024 to Mar 26, 2024
      • RAUM · $471M to $331M
        Jan 24, 2024 to Mar 26, 2024
      • HQ city · BOSTON to BURLINGTON
        May 5, 2023 to Jan 24, 2024
      • Employees · 15 to 12
        Mar 29, 2022 to Mar 31, 2023
      • Discretionary RAUM · $621M to $462M
        Mar 29, 2022 to Mar 31, 2023
      • Non-discretionary RAUM · $7.4M to $9.0M
        Mar 29, 2022 to Mar 31, 2023
      • Pooled vehicle RAUM · $628M to $471M
        Mar 29, 2022 to Mar 31, 2023
      • RAUM · $628M to $471M
        Mar 29, 2022 to Mar 31, 2023
      • Accounts · 19 to 17
        May 3, 2021 to Mar 29, 2022
      • Advisory employees · 6 to 5
        May 3, 2021 to Mar 29, 2022
      • Pooled vehicle clients · 17 to 16
        May 3, 2021 to Mar 29, 2022
      • Employees · 17 to 15
        May 3, 2021 to Mar 29, 2022
      • Private funds · 17 to 16
        May 3, 2021 to Mar 29, 2022
      Signals
      3 dated events
      • A••••• V•••••••• L••• no longer on the SEC adviser roster (last listed 2026-07-01, RAUM $153.8M)
        Aug 3, 2026 · Left the SEC roster · derived
      • A••••• V•••••••• L••• reported RAUM $331.3M, down 30% from $471.3M (2024-01-24 to 2024-03-26)
        Mar 26, 2024 · RAUM change · derived
      • A••••• V•••••••• L••• reported RAUM $831.3M, down 31% from $1.2B (2020-03-30 to 2021-03-29)
        Mar 29, 2021 · 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.
      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

      A••••• V•••••••• 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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