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
H• C•••••• M••••••••• L••
Latest filing Mar 25, 2026
First filing on the tape Jan 11, 2021 · 10 filings
SEC status approved since Feb 11, 2021
RAUM
$1.2B
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
14
11 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
6
reported on Schedule D
History
10 filings and snapshots on the tape
RAUM$1.2B as of Mar 25, 2026
Mar 22, 2022$698M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 25, 2026
Mar 22, 20220 then
Employees (5.A)14 as of Mar 25, 2026
Mar 22, 202213 then
Private funds6 as of Mar 25, 2026
Mar 22, 20223 then
RAUM +8.2% over the last fiscal year+18% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 25, 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
- $202MderivedRAUM 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
- +8.2%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
- $1.2B, 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
- 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)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$1.2B100%
- 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
- $1.2B for 6 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
4 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| H••••••• H••••••••• I••••••••• F••• I••• L• | Venture Capital Fund | $417M | 69 | Mar 27, 2020 |
| H••••••• H••••••••• I••••••••• F••• I•• L• | Venture Capital Fund | $334M | 37 | Jun 26, 2015 |
| H••••••• H••••••••• I••••••••• F•••• L• | Venture Capital Fund | $38.9M | 25 | Mar 30, 2012 |
| H••••••• G•••• M••••••• H•••••••• L• | Venture Capital Fund | $15.9M | 13 | Mar 22, 2023 |
Owners and control persons
Schedule A and B, latest filing
- M••••••• R•••• A•••••• · Partnercontrolsince 01/2011 · owns less than 5%
- Y••••• J••••• F•••••••• · Chief Financial Officer And Chief Compliance Officercontrolsince 03/2020 · owns less than 5%
- M••••••••• D••••• G••• · Ownercontrolsince 01/2011 · owns 50% to 75% of H••••••• G•••• L••
- M••••••• R•••• A•••••• · Ownercontrolsince 01/2011 · owns 50% to 75% of H••••••• G•••• L••
- B••••• J••••• A•••••••• · Partner - H• C•••••• M••••••••• I••• L••since 09/2020 · owns 10% to 25%
- G•••••••• L•••••• A• · Partner - H• C•••••• M••••••••• I••• L••since 09/2020 · owns 10% to 25%
- H•••••• G•••••• L•••••• · Partner - H• C•••••• M••••••••• I••• L••since 09/2020 · owns 10% to 25%
- M••••••••• D••••• G••• · Partner - H• C•••••• M••••••••• I••• L••since 01/2011 · owns 10% to 25%
Entity owners
- H••••••• G•••• L•• · Holding Companydirect · owns 75% or more
Related persons
Schedule D 7.A
- H••••••• H••••••••• I••••••••• F••• G•• L••pooled vehicle sponsorn
- H• C•••••• M••••••••• I••• L••investment advisern
- H••• I• G•• L••pooled vehicle sponsorn
- H••• I•• G•• L••pooled vehicle sponsorn
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Assets in custody · $1.1B to $1.2BNov 24, 2025 to Mar 25, 2026
- Discretionary RAUM · $1.1B to $1.2BNov 24, 2025 to Mar 25, 2026
- Pooled vehicle RAUM · $1.1B to $1.2BNov 24, 2025 to Mar 25, 2026
- RAUM · $1.1B to $1.2BNov 24, 2025 to Mar 25, 2026
- Accounts · 4 to 6Mar 15, 2024 to Mar 31, 2025
- Pooled vehicle clients · 4 to 6Mar 15, 2024 to Mar 31, 2025
- Assets in custody · $806M to $1.1BMar 15, 2024 to Mar 31, 2025
- Financial planning clients · unset to Mar 15, 2024 to Mar 31, 2025
- Private funds · 4 to 6Mar 15, 2024 to Mar 31, 2025
- Discretionary RAUM · $806M to $1.1BMar 15, 2024 to Mar 31, 2025
- Pooled vehicle RAUM · $806M to $1.1BMar 15, 2024 to Mar 31, 2025
- RAUM · $806M to $1.1BMar 15, 2024 to Mar 31, 2025
- Assets in custody · $737M to $806MMar 22, 2023 to Mar 15, 2024
- Discretionary RAUM · $737M to $806MMar 22, 2023 to Mar 15, 2024
- Pooled vehicle RAUM · $737M to $806MMar 22, 2023 to Mar 15, 2024
- RAUM · $737M to $806MMar 22, 2023 to Mar 15, 2024
- Accounts · 3 to 4Nov 4, 2022 to Mar 22, 2023
- Advisory employees · 12 to 11Nov 4, 2022 to Mar 22, 2023
- Pooled vehicle clients · 3 to 4Nov 4, 2022 to Mar 22, 2023
- Assets in custody · $698M to $737MNov 4, 2022 to Mar 22, 2023
- Employees · 13 to 14Nov 4, 2022 to Mar 22, 2023
- Private funds · 3 to 4Nov 4, 2022 to Mar 22, 2023
- Discretionary RAUM · $698M to $737MNov 4, 2022 to Mar 22, 2023
- Pooled vehicle RAUM · $698M to $737MNov 4, 2022 to Mar 22, 2023
- RAUM · $698M to $737MNov 4, 2022 to Mar 22, 2023
- Advisory employees · 7 to 12Jan 4, 2022 to Mar 22, 2022
- Assets in custody · $745M to $698MJan 4, 2022 to Mar 22, 2022
- Employees · 14 to 13Jan 4, 2022 to Mar 22, 2022
- Discretionary RAUM · $745M to $698MJan 4, 2022 to Mar 22, 2022
- Pooled vehicle RAUM · $745M to $698MJan 4, 2022 to Mar 22, 2022
- RAUM · $745M to $698MJan 4, 2022 to Mar 22, 2022
- Private funds · 6 to 3Jan 11, 2021 to Sep 3, 2021
Signals
3 dated events
- H• C•••••• M••••••••• L•• reported RAUM $1.1B, up 39% from $806.5M (2024-03-15 to 2025-03-31)Mar 31, 2025 · RAUM change · derived
- Paul William Wallace (Partner) no longer on Schedule A of H• C•••••• M••••••••• L•• (listed 2021-09-03, absent 2022-01-04)Jan 4, 2022 · Control person left · inference
- H• C•••••• M••••••••• L•• filed its initial SEC registration (Form ADV)Jan 11, 2021 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- H• C•••••• M••••••••• L•• · Independent Sponsorsshared crd · capital_provider
- H• C•••••• M••••••••• L•• · Private Equityshared crd · organization
- H• C•••••• M••••••••• L•• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/heritage-group-llcreportedpublic record, Form ADV, Sep 18, 2026
- Website
- H•••••••GROUPUSA.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 615-665-8220reportedpublic record, Form ADV, Mar 25, 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