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
F••••••••• E••••• M•••••••••
Legal name F••••••••• E••••• M••••••••• L••
Latest filing Apr 22, 2026
First filing on the tape Feb 14, 2012 · 36 filings
SEC status approved since Mar 16, 2012
RAUM
$270M
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
110
10 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
6
reported on Schedule D
History
36 filings and snapshots on the tape
RAUM$270M as of Apr 22, 2026
Mar 28, 2013$316M then
HNW client RAUM$0 as of Apr 22, 2026
Mar 29, 2018$0 then
State-registered IARs (5.B.3)0 as of Apr 22, 2026
Mar 28, 20130 then
Employees (5.A)110 as of Apr 22, 2026
Mar 28, 201350 then
Private funds6 as of Apr 22, 2026
Mar 28, 20136 then
RAUM -12% over the last fiscal year-23% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Apr 22, 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
- $45.1MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%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
- -12%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
- yesreportedItem 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
- has discretionary authority over which securities are bought or sold (8.C.1)
- 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$270M100%
- Individual clients
- 0reported
- HNW clients
- 0reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 6reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $0 for 0 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
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
10 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| F••••••••• E••••• F••• V• • A• L••• | Other Private Fund | $150M | 10 | Mar 28, 2017 |
| F••••••••• E••••• F••• V•• • A• L••• | Other Private Fund | $133M | 2 | Mar 30, 2020 |
| F••••••••• E••••• F••• V• • B• C•••• L••• | Other Private Fund | $33.8M | 5 | Sep 30, 2014 |
| F••••••••• E••••• F••• V• • A• L••• | Other Private Fund | $23.7M | 15 | Sep 30, 2014 |
| F••••••••• E••••• F••• I• • B• L••• | Other Private Fund | $10.7M | 9 | Feb 14, 2012 |
| F••••••••• E••••• F••• I• • A• L••• | Other Private Fund | $7.0M | 21 | Feb 14, 2012 |
| F••••••••• E••••• F••• I•• • A• L••• | Other Private Fund | $1.3M | 10 | Feb 14, 2012 |
| F••••••••• E••••• F••• I•• • B• L••• | Other Private Fund | $953,386 | 4 | Feb 14, 2012 |
| F••••••••• E••••• F••• I•• L••••• | Other Private Fund | $121,071 | 16 | Feb 14, 2012 |
| F••••••••• E••••• F••• I• L•••••no longer reported | Other Private Fund | $0 | 14 | Feb 14, 2012 |
Owners and control persons
Schedule A and B, latest filing
- R•••• E••••• W•••• · President And Chief Executive Officer, F••••••••• E••••• M••••••••• L••controlsince 07/2005 · owns less than 5%
- B•••••••• P••••• C•••••• · Elected Manager And Membercontrolsince 05/2005 · owns F of F••••••••• E••••• C••••••• L••
- D••••• C••••••••• •• M••••• N•••• · Elected Manager And Membercontrolsince 05/2005 · owns F of F••••••••• E••••• C••••••• L••
- G•••••• J••••• A• · Elected Managercontrolsince 08/2017 · owns F of F••••••••• E••••• C••••••• L••
- P••••• R••••••• L• · Elected Manager And Membercontrolsince 06/2018 · owns F of F••••••••• E••••• C••••••• L••
- R•••• E••••• W•••• · Elected Manager And Membercontrolsince 07/2004 · owns 25% to 50% of F••••••••• E••••• C••••••• L••
- T•••••••• W••••••• M•••••••• · Elected Manager And Membercontrolsince 05/2005 · owns F of F••••••••• E••••• C••••••• L••
- S••••• J••••••• M•••••• · Chief Compliance Officer, F••••••••• E••••• M••••••••• L••since 02/2012 · owns less than 5%
Entity owners
- F••••••••• E••••• C••••••• L•• · Sole Member, F••••••••• E••••• M••••••••• L••direct · owns 75% or more
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
- Discretionary RAUM · $289M to $270MMar 27, 2026 to Apr 22, 2026
- Pooled vehicle RAUM · $289M to $270MMar 27, 2026 to Apr 22, 2026
- RAUM · $289M to $270MMar 27, 2026 to Apr 22, 2026
- Pooled vehicle clients · 9 to 6Apr 8, 2025 to Mar 27, 2026
- Employees · 120 to 110Apr 8, 2025 to Mar 27, 2026
- Discretionary RAUM · $308M to $289MApr 8, 2025 to Mar 27, 2026
- Pooled vehicle RAUM · $308M to $289MApr 8, 2025 to Mar 27, 2026
- RAUM · $308M to $289MApr 8, 2025 to Mar 27, 2026
- Accounts · 9 to 6Apr 24, 2024 to Apr 8, 2025
- Assets in custody · $121,071 to $0Apr 24, 2024 to Apr 8, 2025
- Financial planning clients · unset to Apr 24, 2024 to Apr 8, 2025
- Private funds · 9 to 6Apr 24, 2024 to Apr 8, 2025
- Discretionary RAUM · $360M to $308MApr 24, 2024 to Apr 8, 2025
- Pooled vehicle RAUM · $360M to $308MApr 24, 2024 to Apr 8, 2025
- RAUM · $360M to $308MApr 24, 2024 to Apr 8, 2025
- Discretionary RAUM · $364M to $360MMar 25, 2024 to Apr 24, 2024
- Pooled vehicle RAUM · $364M to $360MMar 25, 2024 to Apr 24, 2024
- RAUM · $364M to $360MMar 25, 2024 to Apr 24, 2024
- Assets in custody · $377,635 to $121,071Apr 28, 2023 to Mar 25, 2024
- Other offices · 1 to 0Apr 28, 2023 to Mar 25, 2024
- Discretionary RAUM · $502M to $364MApr 28, 2023 to Mar 25, 2024
- Pooled vehicle RAUM · $502M to $364MApr 28, 2023 to Mar 25, 2024
- RAUM · $502M to $364MApr 28, 2023 to Mar 25, 2024
- Assets in custody · $470,989 to $377,635Mar 28, 2023 to Apr 28, 2023
- Discretionary RAUM · $587M to $502MMar 28, 2023 to Apr 28, 2023
- Pooled vehicle RAUM · $587M to $502MMar 28, 2023 to Apr 28, 2023
- RAUM · $587M to $502MMar 28, 2023 to Apr 28, 2023
- Assets in custody · $2.3M to $470,989Jun 20, 2022 to Mar 28, 2023
- Employees · 130 to 120Jun 20, 2022 to Mar 28, 2023
- Discretionary RAUM · $430M to $587MJun 20, 2022 to Mar 28, 2023
- Pooled vehicle RAUM · $430M to $587MJun 20, 2022 to Mar 28, 2023
- RAUM · $430M to $587MJun 20, 2022 to Mar 28, 2023
- Discretionary RAUM · $500M to $430MMar 28, 2022 to Apr 19, 2022
- Pooled vehicle RAUM · $500M to $430MMar 28, 2022 to Apr 19, 2022
- RAUM · $500M to $430MMar 28, 2022 to Apr 19, 2022
- Assets in custody · $2.6M to $2.3MApr 26, 2021 to Mar 28, 2022
- Other offices · 2 to 1Apr 26, 2021 to Mar 28, 2022
- Discretionary RAUM · $338M to $500MApr 26, 2021 to Mar 28, 2022
- Pooled vehicle RAUM · $338M to $500MApr 26, 2021 to Mar 28, 2022
- RAUM · $338M to $500MApr 26, 2021 to Mar 28, 2022
Signals
5 dated events
- F••••••••• E••••• M••••••••• reported RAUM $363.6M, down 28% from $501.7M (2023-04-28 to 2024-03-25)Mar 25, 2024 · RAUM change · derived
- Patrick Joel Sauer (Elected Manager And Member) no longer on Schedule A of F••••••••• E••••• M••••••••• (listed 2023-04-28, absent 2024-03-25)Mar 25, 2024 · Control person left · inference
- F••••••••• E••••• M••••••••• reported RAUM $586.9M, up 36% from $430.0M (2022-06-20 to 2023-03-28)Mar 28, 2023 · RAUM change · derived
- F••••••••• E••••• M••••••••• reported RAUM $499.8M, up 48% from $337.7M (2021-04-26 to 2022-03-28)Mar 28, 2022 · RAUM change · derived
- L. Richard Payne (Manager And Member) appeared on Schedule A of F••••••••• E••••• M•••••••••Mar 28, 2019 · Control person joined · fact
Across DFX
shared identifiers only, never a name match
- F••••••••• E••••• M••••••••• · Independent Sponsorsshared crd · capital_provider
How to reach
public business contact points only, each with its source
- Website
- FOUNDATIONE•••••.COMreportedpublic record, Form ADV, Sep 19, 2026
- Principal office phone
- 972-707-2500reportedpublic record, Form ADV, Apr 22, 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
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026