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

B••••• H••• C•••••• L••

Former SEC-registered adviserBoston, MassachusettsCRD 169314SEC 801-80098website IAPD

Legal name B•••••• H••• C•••••• L••

Latest filing Sep 4, 2025

First filing on the tape Jul 11, 2014 · 21 filings

SEC status approved since Jul 15, 2014

RAUM

$2.2B

reported, Item 5.F

Discretionary

30%

of RAUM

Private clients

96%

$2.1B individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

n/a

derived; firm RAUM over IAPD count

Employees

4 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

21 filings and snapshots on the tape

RAUM$2.2B as of Sep 4, 2025

Mar 24, 2015$479M then

HNW client RAUM$2.1B as of Sep 4, 2025

Mar 30, 2018$1.1B then

State-registered IARs (5.B.3)3 as of Sep 4, 2025

Mar 24, 20150 then

Employees (5.A)6 as of Sep 4, 2025

Mar 24, 20152 then

Private funds1 as of Mar 30, 2018

Mar 28, 20161 then

RAUM +14% over the last fiscal year+5.1% a year over threeIARs 3 to 3

Practice profile

derived from the filing of Sep 4, 2025; every figure names its basis

RAUM per advisor: $748MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 13derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $56.5MderivedHNW RAUM over HNW clients
Average account: $4.3MderivedRAUM over accounts (5.F.2.f)
Discretionary: 30%derivedof RAUM
Institutional: 4.3%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 2.0derivedItem 5.A over advisors
Advisors per office: 3.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year: +14%derivedbetween the last two annual amendments
Advisor growth, one year: +0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year: +0.0%derived
Compensation: percentage of assets, fixed feesreportedItem 5.E
Advisory activities: financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 5.G
Custody: $674M, 15 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

buys or sells securities as principal to or from clients (8.A.2)
receives research or other products from a broker-dealer, soft dollars (8.E)
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

High-net-worth individuals$2.1B96%
Charitable organizations$97.1M4.3%

Individual clients: 0reported
HNW clients: 38reported
Pension plan clients: 0reported
Charitable clients: 0reported
Accounts: 523reported
Financial planning clients: 26-50reported
Wrap fee programs: noreported
Custody of client assets: $674M for 15 clientsreported
Compensation: % of AUM, fixedreported
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

3 left, 0 joined in 12 months

net -3 in 12 months0 left in 90 days0 joined in 90 days3 left over 36 months

Left, latest

J••• J•••• E•••••• to C••••••
Oct 2, 2025 · RIA to RIA
S•••• D••••••• H•••••••• to C••••••
Oct 2, 2025 · RIA to RIA
R••••• A• B•••••• to C••••••
Oct 2, 2025 · RIA to RIA

Joined, latest

R••••• A• B•••••• from M••••• S••••••
Nov 2, 2022 · Wirehouse to independent RIA
S•••• D••••••• H•••••••• from L••• S••••• A•••••••• L••
Sep 23, 2015 · Other
J••• J•••• E•••••• from L••• S••••• A•••••••• L••
Nov 12, 2013 · Other

Every departure Every arrival

Teams: two or more advisors moving together within fourteen days, from one state

3 left for C••••••
Oct 2, 2025 · Boston, Ma · Firm absorbed

Teams out Teams in

Private funds

1 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
M•• F••••••• L••no longer reported	Private Equity Fund	$13.0M	7	Aug 3, 2015

Owners and control persons

Schedule A and B, latest filing

E••••••• J•••• J•••• · Managing Member, Chief Executive Officer And Chief Compliance Officercontrol
since 09/2013 · owns 50% to 75%
Z••••• J•••••• A• · Trusteecontrol
since 11/2024 · owns less than 5%

Entity owners

T•• J••• J• E•••••• I••••••••• G•• T•••• O• 2••• · Shareholder
direct · owns 25% to 50%

Related persons

Schedule D 7.A

No related person reported.

Office movement

IAPD branch city; joins and departures in 12 months

Office	Advisors	Joined	Left	Teams out	Forming
Boston, Ma · principal	0	0	3

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

What changed

consecutive filings, newest first

Related adviser · false to true
Mar 18, 2025 to Sep 4, 2025
Accounts · 508 to 523
Dec 20, 2024 to Mar 18, 2025
Advisory activities · 3 to 4
Dec 20, 2024 to Mar 18, 2025
Assets in custody · unset to 674378073.0
Dec 20, 2024 to Mar 18, 2025
Custody of client assets · false to true
Dec 20, 2024 to Mar 18, 2025
Financial planning clients · 26-50 to 26-50
Dec 20, 2024 to Mar 18, 2025
Discretionary RAUM · $388M to $674M
Dec 20, 2024 to Mar 18, 2025
HNW RAUM · $1.9B to $2.1B
Dec 20, 2024 to Mar 18, 2025
Non-discretionary RAUM · $1.6B to $1.6B
Dec 20, 2024 to Mar 18, 2025
RAUM · $2.0B to $2.2B
Dec 20, 2024 to Mar 18, 2025
Accounts · 495 to 508
Feb 22, 2023 to Feb 16, 2024
Advisory employees · 5 to 4
Feb 22, 2023 to Feb 16, 2024
HNW clients · 37 to 38
Feb 22, 2023 to Feb 16, 2024
State-registered IARs · 2 to 3
Feb 22, 2023 to Feb 16, 2024
Discretionary RAUM · $314M to $388M
Feb 22, 2023 to Feb 16, 2024
HNW RAUM · $1.6B to $1.9B
Feb 22, 2023 to Feb 16, 2024
Non-discretionary RAUM · $1.4B to $1.6B
Feb 22, 2023 to Feb 16, 2024
RAUM · $1.7B to $2.0B
Feb 22, 2023 to Feb 16, 2024
Accounts · 500 to 495
Feb 16, 2022 to Feb 22, 2023
Advisory employees · 4 to 5
Feb 16, 2022 to Feb 22, 2023
HNW clients · 38 to 37
Feb 16, 2022 to Feb 22, 2023
Employees · 4 to 6
Feb 16, 2022 to Feb 22, 2023
Discretionary RAUM · $238M to $314M
Feb 16, 2022 to Feb 22, 2023
HNW RAUM · $1.8B to $1.6B
Feb 16, 2022 to Feb 22, 2023
Non-discretionary RAUM · $1.7B to $1.4B
Feb 16, 2022 to Feb 22, 2023
RAUM · $1.9B to $1.7B
Feb 16, 2022 to Feb 22, 2023
Accounts · 465 to 500
Mar 5, 2021 to Feb 16, 2022
HNW clients · 35 to 38
Mar 5, 2021 to Feb 16, 2022
Assets in custody · 29191441.0 to unset
Mar 5, 2021 to Feb 16, 2022
Custody of client assets · true to false
Mar 5, 2021 to Feb 16, 2022
Discretionary RAUM · $175M to $238M
Mar 5, 2021 to Feb 16, 2022
HNW RAUM · $1.4B to $1.8B
Mar 5, 2021 to Feb 16, 2022
Non-discretionary RAUM · $1.3B to $1.7B
Mar 5, 2021 to Feb 16, 2022
RAUM · $1.5B to $1.9B
Mar 5, 2021 to Feb 16, 2022
Accounts · 428 to 465
May 22, 2020 to Mar 5, 2021
HNW clients · 36 to 35
May 22, 2020 to Mar 5, 2021
Assets in custody · $481M to $29.2M
May 22, 2020 to Mar 5, 2021
Discretionary RAUM · $108M to $175M
May 22, 2020 to Mar 5, 2021
HNW RAUM · $1.3B to $1.4B
May 22, 2020 to Mar 5, 2021
Non-discretionary RAUM · $1.3B to $1.3B
May 22, 2020 to Mar 5, 2021

Signals

11 dated events

B••••• H••• C•••••• L•• no longer on the SEC adviser roster (last listed 2026-02-02, RAUM $2.2B)
Mar 2, 2026 · Left the SEC roster · derived
S•••• D••••••• H•••••••• left B••••• H••• C•••••• L•• for C•••••• (registered 2025-09-30)
Oct 2, 2025 · Advisor changed firm · fact
J••• J•••• E•••••• left B••••• H••• C•••••• L•• for C•••••• (registered 2025-09-30)
Oct 2, 2025 · Advisor changed firm · fact
B••••• H••• C•••••• L••'s advisors moved to C•••••• (Boston, MA): 3 of 3 registered, on the same day
Oct 2, 2025 · Firm absorbed (people side) · derived
R••••• A• B•••••• left B••••• H••• C•••••• L•• for C•••••• (registered 2025-09-30)
Oct 2, 2025 · Advisor changed firm · fact
A. Joseph Zadlo (Trustee) appeared on Schedule A of B••••• H••• C•••••• L••
Dec 20, 2024 · Control person joined · fact
B••••• H••• C•••••• L•• reported RAUM $1.9B, up 27% from $1.5B (2021-03-05 to 2022-02-16)
Feb 16, 2022 · RAUM change · derived
B••••• H••• C•••••• L•• reported RAUM $1.4B, up 81% from $778.4M (2019-03-25 to 2020-03-30)
Mar 30, 2020 · RAUM change · derived
B••••• H••• C•••••• L•• reported RAUM $778.4M, down 31% from $1.1B (2018-05-08 to 2019-03-25)
Mar 25, 2019 · RAUM change · derived
B••••• H••• C•••••• L•• reported RAUM $1.1B, up 321% from $267.4M (2017-12-01 to 2018-03-30)
Mar 30, 2018 · RAUM change · derived
B••••• H••• C•••••• L•• filed its initial SEC registration (Form ADV)
Jul 11, 2014 · First SEC registration · fact

Across DFX

shared identifiers only, never a name match

B••••• H••• C•••••• L•• · Private Equity
shared crd · organization

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