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

E••••• R••••••• I••••••••• L••

Asset manager (funds and pooled vehicles)Cambridge, MassachusettsCRD 161186SEC 801-74326websiteIAPD
Latest filing May 14, 2026
First filing on the tape Feb 16, 2012 · 37 filings
SEC status approved since Mar 30, 2012
RAUM
$1.3B
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
27
21 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
62
reported on Schedule D
History
37 filings and snapshots on the tape
RAUM$1.3B as of May 14, 2026
Mar 28, 2013$505M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of May 14, 2026
Mar 28, 20130 then
Employees (5.A)27 as of May 14, 2026
Mar 28, 201315 then
Private funds62 as of May 14, 2026
Mar 28, 201321 then
RAUM +1.0% over the last fiscal year-1.0% a year over threeIARs 0 to 0
Practice profile
derived from the filing of May 14, 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
$19.8MderivedRAUM 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
+1.0%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
performance-based, otherreportedItem 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
  • 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)
  • 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$1.3B100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
68reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$0 for 0 clientsreported
Compensation
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
      132 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      E••••• R••••••• F••• A• 2••• L••Real Estate Fund$310M256Dec 14, 2021
      E••••• R••••••• F••• 2••• L••Real Estate Fund$254M151Mar 26, 2021
      E••••• R••••••• F••• 2••• L••Real Estate Fund$209M109Mar 22, 2019
      E••••• R••••••• F••• 2••• H••••••• L•• S••••• 3•Real Estate Fund$70.9M169Mar 30, 2015
      E••••• R••••••• F••• 2••• H••••••• L•• S••••• 3•Real Estate Fund$67.0M142Mar 28, 2017
      E••••••••• H••••••• L••no longer reportedReal Estate Fund$66.8M6Mar 29, 2016
      E••••• L•• I• L•••••• P•••••••••no longer reportedReal Estate Fund$58.3M2Mar 29, 2016
      E••••• R••••••• F••• B• 2••• L••Real Estate Fund$50.9M18Dec 14, 2021
      E••••• R••••••• F••• 2••• R••• L••Real Estate Fund$34.9M267Mar 29, 2018
      E••••• R••••••• F••• 2••• H••••••• L•• S••••• 3•Real Estate Fund$33.4M5Mar 28, 2013
      E••••• R••••••• F••• 2••• R••• L••Real Estate Fund$32.3M126Mar 26, 2021
      E••••••• H••••••• L••Real Estate Fund$29.2M5Mar 30, 2015
      E••••• R••••••• F••• 2••• R••• L••Real Estate Fund$24.7M130Mar 30, 2015
      F•••• S•• A•• L••no longer reportedReal Estate Fund$24.4M138Dec 14, 2021
      F•••• S•• T• A•• L••no longer reportedReal Estate Fund$22.5M10Dec 14, 2021
      E••••• R••••••• F••• 2••• H••••••• L•• S••••• 3•Real Estate Fund$18.2M5Feb 16, 2012
      F•••• S•• A•• L••no longer reportedReal Estate Fund$18.0M99Dec 14, 2021
      E••••• R••••••• F••• 2••• L•••••• P•••••••••Real Estate Fund$16.6M119Mar 28, 2017
      F•••• S•• T• A•• L••no longer reportedReal Estate Fund$16.1M12Dec 14, 2021
      E••••• R••••••• F••• 2••• R••• L••Real Estate Fund$14.4M130Mar 30, 2015
      E•••••• L••Real Estate Fund$14.1M7Mar 28, 2013
      E••••• R••••••• F••• 2••• L•••••• P•••••••••Real Estate Fund$12.9M145Mar 28, 2017
      E••••• R••••••• F••• 2••• R••• L••Real Estate Fund$12.5M126Mar 26, 2021
      E••••• R••••••• F••• 2••• L•Real Estate Fund$11.5M50Feb 16, 2012
      F•••• E••••••• P•••••• L••Real Estate Fund$9.9M5Mar 25, 2020
      F•••• E••••••• P•••••• L••Real Estate Fund$9.8M6Mar 25, 2020
      E••••••••• H•••••• L••Real Estate Fund$9.1M3Dec 14, 2021
      E••••• R••••••• F••• X•••• ••• L•Real Estate Fund$8.5M22Feb 16, 2012
      E••••••••• P••••• L••Real Estate Fund$8.3M37Mar 29, 2018
      H•• P••••• L••Real Estate Fund$8.2M85Dec 14, 2021
      C••••• H••• H••••••• L••Real Estate Fund$8.0M20Dec 14, 2021
      E••••• R••••••• P••••••• F••• L••Real Estate Fund$7.1M20Feb 16, 2012
      C••••• H••••••• L••no longer reportedReal Estate Fund$6.7M4Mar 30, 2015
      N•••••• A••••••••• L•••••• P•••••••••Real Estate Fund$6.7M20Dec 14, 2021
      E••••• R••••••• F••• X••• ••• L•Real Estate Fund$6.4M9Feb 16, 2012
      E••••• R••••••• M••••• F••• L••Real Estate Fund$6.3M6Feb 16, 2012
      E••••• R••••••• F••• X••• ••• L•Real Estate Fund$6.2M66Feb 16, 2012
      E••••• R••••••• N••••• F••• L•Real Estate Fund$6.2M6Feb 16, 2012
      F•• L• A••••••••• L••Real Estate Fund$5.8M6Mar 29, 2018
      F•• L• A••••••••• L••Real Estate Fund$5.6M6Mar 29, 2018
      All funds of E••••• R••••••• I••••••••• L••
      Owners and control persons
      Schedule A and B, latest filing
      • C•••••• P•••• G••••• · Managing Membercontrol
        since 02/2020 · owns 10% to 25%
      • D••••••••• E••••• · Managing Membercontrol
        since 10/2002 · owns 25% to 50%
      • F••••• J•••••• D•••••• · Managing Membercontrol
        since 10/2022 · owns 10% to 25%
      • H••••••• C••••••• T•••••••• · Principal, Chief Compliance Officer / Assistant General Counselcontrol
        since 07/2022 · owns less than 5%
      • P•••• V•••••• J•••• · Managing Membercontrol
        since 05/2005 · owns 10% to 25%
      • S•••••• K•••• R•••••• · Managing Membercontrol
        since 01/2024 · owns 10% to 25%
      • B•••••• J••••• E••• · Member
        since 10/2002 · owns 5% to 10%
      • T•••••••• M•••• S•••• · Member
        since 10/2002 · owns 5% to 10%
      • Z••••••••• R••••••• J•• · Member
        since 03/2008 · owns less than 5%
      Related persons
      Schedule D 7.A
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      ADV anomalies
      1 against comparable advisers; where to look, not conclusions
      • many private funds relative to firm sizeStatic outlier · filing May 14, 2026
        private funds per $1B of RAUM of 46.2 against a peer median of 4.3 (953 comparable advisers, 99.0th percentile, 13.4 robust deviations)
        peers: asset managers, $1B to $5B (953) · 99% percentile
      What changed
      consecutive filings, newest first
      • Accounts · 65 to 68
        May 13, 2025 to Mar 30, 2026
      • Advisory employees · 20 to 21
        May 13, 2025 to Mar 30, 2026
      • Pooled vehicle clients · 65 to 68
        May 13, 2025 to Mar 30, 2026
      • Employees · 25 to 27
        May 13, 2025 to Mar 30, 2026
      • Private funds · 59 to 62
        May 13, 2025 to Mar 30, 2026
      • Discretionary RAUM · $1.3B to $1.3B
        May 13, 2025 to Mar 30, 2026
      • Pooled vehicle RAUM · $1.3B to $1.3B
        May 13, 2025 to Mar 30, 2026
      • RAUM · $1.3B to $1.3B
        May 13, 2025 to Mar 30, 2026
      • Financial planning clients · unset to
        Mar 28, 2025 to May 13, 2025
      • Accounts · 79 to 65
        Jul 18, 2024 to Mar 28, 2025
      • Advisory employees · 17 to 20
        Jul 18, 2024 to Mar 28, 2025
      • Pooled vehicle clients · 79 to 65
        Jul 18, 2024 to Mar 28, 2025
      • Employees · 20 to 25
        Jul 18, 2024 to Mar 28, 2025
      • Private funds · 73 to 59
        Jul 18, 2024 to Mar 28, 2025
      • Discretionary RAUM · $1.2B to $1.3B
        Jul 18, 2024 to Mar 28, 2025
      • Pooled vehicle RAUM · $1.2B to $1.3B
        Jul 18, 2024 to Mar 28, 2025
      • RAUM · $1.2B to $1.3B
        Jul 18, 2024 to Mar 28, 2025
      • Accounts · 106 to 79
        Jan 26, 2024 to Mar 28, 2024
      • Advisory employees · 20 to 17
        Jan 26, 2024 to Mar 28, 2024
      • Pooled vehicle clients · 106 to 79
        Jan 26, 2024 to Mar 28, 2024
      • Employees · 23 to 20
        Jan 26, 2024 to Mar 28, 2024
      • Private funds · 106 to 73
        Jan 26, 2024 to Mar 28, 2024
      • Discretionary RAUM · $1.4B to $1.2B
        Jan 26, 2024 to Mar 28, 2024
      • Pooled vehicle RAUM · $1.4B to $1.2B
        Jan 26, 2024 to Mar 28, 2024
      • RAUM · $1.4B to $1.2B
        Jan 26, 2024 to Mar 28, 2024
      • Accounts · 107 to 106
        Oct 27, 2022 to Mar 30, 2023
      • Advisory employees · 18 to 20
        Oct 27, 2022 to Mar 30, 2023
      • Pooled vehicle clients · 107 to 106
        Oct 27, 2022 to Mar 30, 2023
      • Employees · 22 to 23
        Oct 27, 2022 to Mar 30, 2023
      • Private funds · 107 to 106
        Oct 27, 2022 to Mar 30, 2023
      • Discretionary RAUM · $1.4B to $1.4B
        Oct 27, 2022 to Mar 30, 2023
      • Pooled vehicle RAUM · $1.4B to $1.4B
        Oct 27, 2022 to Mar 30, 2023
      • RAUM · $1.4B to $1.4B
        Oct 27, 2022 to Mar 30, 2023
      • Related adviser · false to true
        Oct 27, 2022 to Mar 30, 2023
      • Accounts · 111 to 107
        Dec 14, 2021 to Mar 31, 2022
      • Advisory employees · 20 to 18
        Dec 14, 2021 to Mar 31, 2022
      • Pooled vehicle clients · 111 to 107
        Dec 14, 2021 to Mar 31, 2022
      • Private funds · 114 to 107
        Dec 14, 2021 to Mar 31, 2022
      • Discretionary RAUM · $1.2B to $1.4B
        Dec 14, 2021 to Mar 31, 2022
      • Pooled vehicle RAUM · $1.2B to $1.4B
        Dec 14, 2021 to Mar 31, 2022
      Signals
      9 dated events
      • Gordon Bryn Zeckhauser (Managing Member) no longer on Schedule A of E••••• R••••••• I••••••••• L•• (listed 2023-07-24, absent 2024-01-26)
        Jan 26, 2024 · Control person left · inference
      • Renfrew Kurt Spring (Managing Member) appeared on Schedule A of E••••• R••••••• I••••••••• L••
        Jan 26, 2024 · Control person joined · fact
      • Dolores Joanne Foley (Managing Member) appeared on Schedule A of E••••• R••••••• I••••••••• L••
        Oct 27, 2022 · Control person joined · fact
      • Michael Bruce Quinn (Managing Member) no longer on Schedule A of E••••• R••••••• I••••••••• L•• (listed 2022-09-09, absent 2022-10-27)
        Oct 27, 2022 · Control person left · inference
      • Robert Porcelli (Chief Compliance Officer) no longer on Schedule A of E••••• R••••••• I••••••••• L•• (listed 2022-03-31, absent 2022-07-07)
        Jul 7, 2022 · Control person left · inference
      • T•••••••• C•••••• H•••••• (Vice President, Chief Compliance Officer / Assistant General Counsel) appeared on Schedule A of E••••• R••••••• I••••••••• L••
        Jul 7, 2022 · Control person joined · fact
      • Paul Coelho (Managing Member) appeared on Schedule A of E••••• R••••••• I••••••••• L••
        Mar 25, 2020 · Control person joined · fact
      • Bryn Zeckhauser (Managing Member) appeared on Schedule A of E••••• R••••••• I••••••••• L••
        Mar 25, 2020 · Control person joined · fact
      • Michael Bruce Quinn (Managing Member) appeared on Schedule A of E••••• R••••••• I••••••••• L••
        Mar 25, 2020 · Control person joined · fact
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Firm profile
      linkedin.com/company/equity-resource-investmentsreportedpublic record, Form ADV, Sep 18, 2026
      Website
      erillc.comreportedpublic record, Form ADV, Sep 18, 2026
      Principal office phone
      617-876-4800reportedpublic record, Form ADV, May 14, 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
      Across the graphs

      E••••• R••••••• I••••••••• 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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