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

S•••• A•••• M••••••••• L••

Former SEC-registered adviserSaratoga, CaliforniaCRD 167772SEC 801-113529websiteIAPD
Latest filing Mar 28, 2025
First filing on the tape Jun 25, 2014 · 18 filings
SEC status approved since Jul 2, 2018
RAUM
$155M
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
6
2 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
2
reported on Schedule D
History
18 filings and snapshots on the tape
RAUM$155M as of Mar 28, 2025
Mar 20, 2015$166M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 28, 2025
Mar 20, 20150 then
Employees (5.A)6 as of Mar 28, 2025
Mar 20, 20156 then
Private funds2 as of Mar 28, 2025
Mar 20, 20152 then
RAUM -21% over the last fiscal year-19% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 28, 2025; 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
$38.7MderivedRAUM 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
unknownderived2 offices incl. principal (1.F.5)
RAUM growth, one year
-21%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
  • 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)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
  • 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$155M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
4reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$0 for 0 clientsreported
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
      Every departureEvery arrival
      Private funds
      3 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      S•••• A•••• L•no longer reportedHedge Fund$253M3Mar 27, 2018
      S•••• M••••• G•• L•••Hedge Fund$143M36Sep 4, 2013
      S•••• V•••• G•• L•••Hedge Fund$53.3M25Sep 4, 2013
      Owners and control persons
      Schedule A and B, latest filing
      • B••••• M••••••• J•••• · Chief Executive Officercontrol
        since 03/2013 · owns less than 5%
      • H•••••• J•••••••• R••• · Chief Administrative Officercontrol
        since 10/2023 · owns less than 5%
      • J••••••• J•••••••• B•••• · Chief Compliance Officercontrol
        since 04/2022 · owns less than 5%
      • S••••• G•••••• S••••• · Chief Operating Officer/Chief Financial Officercontrol
        since 03/2013 · owns less than 5%
      • B••••• A•••••• · Trusteecontrol
        since 05/2003 · owns F of T•• B•••• 2••• R•••••••• T••••
      • B••••• M••••••• J•••• · Managing Membercontrol
        since 12/2008 · owns F of S•••• C•••••• G••••• L••
      • B••••• M••••••• J•••• · Trusteecontrol
        since 05/2003 · owns F of T•• B•••• 2••• R•••••••• T••••
      Entity owners
      • S•••• A•••• P•••••••• L••• · Managing Member
        direct · owns 75% or more
      • S•••• C•••••• G••••• L•• · General Partner
        indirect · owns F of S•••• A•••• P•••••••• L•••
      • T•• B•••• 2••• R•••••••• T•••• · Limited Partner
        indirect · owns 75% or more of S•••• A•••• P•••••••• L•••
      • T•• B•••• 2••• R•••••••• T•••• · Sole Limited Member
        indirect · owns 75% or more of S•••• C•••••• G••••• L••
      Related persons
      Schedule D 7.A
      • D•••••••• L••
        pooled vehicle sponsorn
      Offices
      Schedule D 1.F, the 25 largest
      • , 1 employees
      What changed
      consecutive filings, newest first
      • Employees · 5 to 6
        Mar 28, 2024 to Mar 28, 2025
      • Financial planning clients · unset to
        Mar 28, 2024 to Mar 28, 2025
      • Discretionary RAUM · $196M to $155M
        Mar 28, 2024 to Mar 28, 2025
      • Pooled vehicle RAUM · $196M to $155M
        Mar 28, 2024 to Mar 28, 2025
      • RAUM · $196M to $155M
        Mar 28, 2024 to Mar 28, 2025
      • Employees · 6 to 5
        Jan 17, 2024 to Mar 28, 2024
      • Discretionary RAUM · $238M to $196M
        Jan 17, 2024 to Mar 28, 2024
      • Pooled vehicle RAUM · $238M to $196M
        Jan 17, 2024 to Mar 28, 2024
      • RAUM · $238M to $196M
        Jan 17, 2024 to Mar 28, 2024
      • Advisory employees · 4 to 2
        Apr 18, 2022 to Mar 29, 2023
      • Employees · 7 to 6
        Apr 18, 2022 to Mar 29, 2023
      • Discretionary RAUM · $292M to $238M
        Apr 18, 2022 to Mar 29, 2023
      • Pooled vehicle RAUM · $292M to $238M
        Apr 18, 2022 to Mar 29, 2023
      • RAUM · $292M to $238M
        Apr 18, 2022 to Mar 29, 2023
      • Employees · 8 to 7
        Mar 28, 2022 to Apr 18, 2022
      • Other offices · 0 to 1
        Mar 28, 2022 to Apr 18, 2022
      • Accounts · 5 to 4
        Mar 31, 2021 to Mar 28, 2022
      • Pooled vehicle clients · 5 to 4
        Mar 31, 2021 to Mar 28, 2022
      • Employees · 6 to 5
        Mar 31, 2021 to Mar 28, 2022
      • Private funds · 3 to 2
        Mar 31, 2021 to Mar 28, 2022
      • Discretionary RAUM · $639M to $292M
        Mar 31, 2021 to Mar 28, 2022
      • Pooled vehicle RAUM · $639M to $292M
        Mar 31, 2021 to Mar 28, 2022
      • RAUM · $639M to $292M
        Mar 31, 2021 to Mar 28, 2022
      • Advisory employees · 2 to 4
        Mar 28, 2022 to Mar 28, 2022
      • Employees · 5 to 8
        Mar 28, 2022 to Mar 28, 2022
      • Accounts · 6 to 5
        Mar 27, 2020 to Mar 31, 2021
      • Advisory employees · 1 to 2
        Mar 27, 2020 to Mar 31, 2021
      • Advisory activities · 2 to 1
        Mar 27, 2020 to Mar 31, 2021
      • Employees · 5 to 6
        Mar 27, 2020 to Mar 31, 2021
      • Discretionary RAUM · $387M to $639M
        Mar 27, 2020 to Mar 31, 2021
      • Pooled vehicle RAUM · $357M to $639M
        Mar 27, 2020 to Mar 31, 2021
      • RAUM · $387M to $639M
        Mar 27, 2020 to Mar 31, 2021
      • Advisory employees · 2 to 1
        Oct 1, 2019 to Mar 27, 2020
      • Employees · 6 to 5
        Oct 1, 2019 to Mar 27, 2020
      • Discretionary RAUM · $263M to $387M
        Oct 1, 2019 to Mar 27, 2020
      • Pooled vehicle RAUM · $238M to $357M
        Oct 1, 2019 to Mar 27, 2020
      • RAUM · $263M to $387M
        Oct 1, 2019 to Mar 27, 2020
      • HQ city · CUPERTINO to SARATOGA
        Mar 26, 2019 to Oct 1, 2019
      • Other offices · 1 to 0
        Mar 26, 2019 to Oct 1, 2019
      • Accounts · 5 to 6
        Aug 13, 2018 to Mar 26, 2019
      Signals
      9 dated events
      • S•••• A•••• M••••••••• L•• no longer on the SEC adviser roster (last listed 2025-09-02, RAUM $154.9M)
        Dec 20, 2025 · Left the SEC roster · derived
      • Reed Jonathan Hallam (Chief Administrative Officer) appeared on Schedule A of S•••• A•••• M••••••••• L••
        Mar 28, 2024 · Control person joined · fact
      • Zaeed Kalsheker (Chief Operating Officer/Chief Compliance Officer) no longer on Schedule A of S•••• A•••• M••••••••• L•• (listed 2022-03-28, absent 2022-04-18)
        Apr 18, 2022 · Control person left · inference
      • Brian Jonathan Jillson (Chief Compliance Officer) appeared on Schedule A of S•••• A•••• M••••••••• L••
        Apr 18, 2022 · Control person joined · fact
      • S•••• A•••• M••••••••• L•• reported RAUM $291.7M, down 54% from $638.9M (2021-03-31 to 2022-03-28)
        Mar 28, 2022 · RAUM change · derived
      • Reed Jonathan Hallam (Chief Administrative Officer) no longer on Schedule A of S•••• A•••• M••••••••• L•• (listed 2021-03-31, absent 2022-03-28)
        Mar 28, 2022 · Control person left · inference
      • S•••• A•••• M••••••••• L•• reported RAUM $638.9M, up 65% from $386.9M (2020-03-27 to 2021-03-31)
        Mar 31, 2021 · RAUM change · derived
      • S•••• A•••• M••••••••• L•• reported RAUM $386.9M, up 47% from $263.3M (2019-10-01 to 2020-03-27)
        Mar 27, 2020 · RAUM change · derived
      • S•••• A•••• M••••••••• L•• filed its initial SEC registration (Form ADV)
        Jun 25, 2014 · First SEC registration · fact
      Across DFX
      shared identifiers only, never a name match
      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