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•••••••• P•••••• W••••• M••••••••• L••

Former SEC-registered adviserDallas, TexasCRD 170525SEC 801-110856IAPD

Latest filing Mar 30, 2022

First filing on the tape Jun 20, 2017 · 12 filings

RAUM

$604M

reported, Item 5.F

Discretionary

78%

of RAUM

Private clients

75%

$455M 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

12 filings and snapshots on the tape

RAUM$604M as of Mar 30, 2022

Mar 26, 2018$152M then

HNW client RAUM$443M as of Mar 30, 2022

Mar 26, 2018$104M then

State-registered IARs (5.B.3)4 as of Mar 30, 2022

Mar 26, 20182 then

Employees (5.A)4 as of Mar 30, 2022

Mar 26, 20182 then

Private funds: no history

RAUM +98% over the last fiscal year+45% a year over threeIARs 4 to 4

Practice profile

derived from the filing of Mar 30, 2022; every figure names its basis

RAUM per advisor: $151MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 98derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $1.7MderivedHNW RAUM over HNW clients
Average account: $1.4MderivedRAUM over accounts (5.F.2.f)
Discretionary: 78%derivedof RAUM
Institutional: 0.5%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 1.0derivedItem 5.A over advisors
Advisors per office: 2.0derived2 offices incl. principal (1.F.5)
RAUM growth, one year: +98%derivedbetween the last two annual amendments
Advisor growth, one year: +0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year: +58%derived
Compensation: percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities: portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisers, otherreportedItem 5.G
Ownership: a bank, bancorp or trust company is a 50 percent or greater ownerderived
Advisor book size: not public; not estimatedreported

Also answered yes on Form ADV

is an insurance broker or agent (6.A.6)
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)

Where the RAUM sits

Form ADV Item 5.D, latest filing

High-net-worth individuals$443M73%
Corporations and businesses$147M24%
Individuals$11.8M2.0%
Charitable organizations$2.8M0.5%

Individual clients: 137reported
HNW clients: 255reported
Pension plan clients: 0reported
Charitable clients: 7reported
Accounts: 433reported
Financial planning clients: 0reported
Wrap fee programs: noreported
Custody of client assets: noreported
Compensation: % of AUM, fixed, hourlyreported
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

R••••• F•••••• B••• to B••••• P••••• A•••••••• L••
Dec 1, 2022 · RIA to RIA
K•••• A•••• F••••••• to B••••• P••••• A•••••••• L••
Jul 25, 2022 · RIA to RIA
K•••• A•••• F••••••• to B••••• P••••• A•••••••• L••
Jul 25, 2022 · RIA to RIA
W•••• C•••••••• M••••••••• to B••••• P••••• A•••••••• L••
Jul 25, 2022 · RIA to RIA

Joined, latest

K•••• A•••• F••••••• from R•••••• J•••• F•••••••• S••••••• A•••••••• I••
Jan 21, 2021 · Affiliated broker-dealer or bank to independent RIA
K•••• A•••• F••••••• from R•••••• J•••• F•••••••• S••••••• A•••••••• I••
Jan 21, 2021 · Affiliated broker-dealer or bank to independent RIA
R••••• F•••••• B••• from R•• C•••••• M••••••• L••
Apr 10, 2014 · Other
W•••• C•••••••• M••••••••• from D••••••• B••• S••••••••• I•••
Mar 20, 2014 · Other

Every departure Every arrival

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

3 left for B••••• P••••• A•••••••• L••
Jul 25, 2022 · Dallas, Tx · Firm absorbed

2 joined from R•••••• J•••• F•••••••• S••••••• A•••••••• I••
Jan 26, 2021 · Waco, Tx

Teams out Teams in

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

M••••••••• W••••• C•••••••• · Managing Directorcontrol
since 04/2014 · owns less than 5%
B••••••• M•••••• · Shareholdercontrol
since 11/1984 · owns 25% to 50% of Q•••••• B••••••••• I••
B••••••• M••••••• C••••• · Trusteecontrol
since 06/2005 · owns F of M•••• B•••••• F•••• 2••• T••••
B••••••• M••••••• C••••• · Trusteecontrol
since 06/2005 · owns F of M•••••• C••••• B•••••• 2••• T••••
F••••• M••••• B•••••• · Trusteecontrol
since 06/2005 · owns F of M•••• B•••••• F•••• 2••• T••••
F••••• M••••• B•••••• · Trusteecontrol
since 06/2005 · owns F of M•••••• C••••• B•••••• 2••• T••••
B•••• R•••••• F•••••• · Cco
since 01/2016 · owns less than 5%

Entity owners

B•••••••• B••• · Sole Member
direct · owns 75% or more
M•••• B•••••• F•••• 2••• T•••• · Shareholder
indirect · owns 25% to 50% of Q•••••• B••••••••• I••
M•••••• C••••• B•••••• 2••• T•••• · Shareholder
indirect · owns 25% to 50% of Q•••••• B••••••••• I••
Q•••••• B••••••••• I•• · Sole Shareholder
indirect · owns 75% or more of B•••••••• B•••

Related persons

Schedule D 7.A

B•••••••• B•••
y
B•••••••• T••••
real estaten

Offices

Schedule D 1.F, the 25 largest

Waco, TX1 employees

What changed

consecutive filings, newest first

Accounts · 795 to 433
Apr 22, 2021 to Mar 30, 2022
Advisory activities · 5 to 4
Apr 22, 2021 to Mar 30, 2022
Charity clients · 5 to 7
Apr 22, 2021 to Mar 30, 2022
Corporate clients · 15 to 34
Apr 22, 2021 to Mar 30, 2022
HNW clients · 141 to 255
Apr 22, 2021 to Mar 30, 2022
Individual clients · 107 to 137
Apr 22, 2021 to Mar 30, 2022
Pension plan clients · 2 to 0
Apr 22, 2021 to Mar 30, 2022
Discretionary RAUM · $203M to $473M
Apr 22, 2021 to Mar 30, 2022
HNW RAUM · $196M to $443M
Apr 22, 2021 to Mar 30, 2022
Individual RAUM · $6.8M to $11.8M
Apr 22, 2021 to Mar 30, 2022
Non-discretionary RAUM · $102M to $132M
Apr 22, 2021 to Mar 30, 2022
Pension RAUM · $1.5M to $0
Apr 22, 2021 to Mar 30, 2022
RAUM · $305M to $604M
Apr 22, 2021 to Mar 30, 2022
Accounts · 636 to 795
Jan 21, 2021 to Mar 29, 2021
Advisory employees · 2 to 4
Jan 21, 2021 to Mar 29, 2021
BD registered reps · 0 to 3
Jan 21, 2021 to Mar 29, 2021
Charity clients · 4 to 5
Jan 21, 2021 to Mar 29, 2021
Corporate clients · 0 to 15
Jan 21, 2021 to Mar 29, 2021
HNW clients · 158 to 141
Jan 21, 2021 to Mar 29, 2021
Individual clients · 72 to 107
Jan 21, 2021 to Mar 29, 2021
Pension plan clients · 17 to 2
Jan 21, 2021 to Mar 29, 2021
Employees · 2 to 4
Jan 21, 2021 to Mar 29, 2021
State-registered IARs · 2 to 4
Jan 21, 2021 to Mar 29, 2021
Discretionary RAUM · $184M to $203M
Jan 21, 2021 to Mar 29, 2021
HNW RAUM · $160M to $196M
Jan 21, 2021 to Mar 29, 2021
Individual RAUM · $21.9M to $6.8M
Jan 21, 2021 to Mar 29, 2021
Non-discretionary RAUM · $81.2M to $102M
Jan 21, 2021 to Mar 29, 2021
Pension RAUM · $81.2M to $1.5M
Jan 21, 2021 to Mar 29, 2021
RAUM · $265M to $305M
Jan 21, 2021 to Mar 29, 2021
Other offices · 0 to 1
Nov 19, 2020 to Jan 21, 2021
Accounts · 223 to 636
Mar 15, 2019 to Mar 25, 2020
Charity clients · 3 to 4
Mar 15, 2019 to Mar 25, 2020
HNW clients · 114 to 158
Mar 15, 2019 to Mar 25, 2020
Individual clients · 91 to 72
Mar 15, 2019 to Mar 25, 2020
Pension plan clients · 15 to 17
Mar 15, 2019 to Mar 25, 2020
Discretionary RAUM · $153M to $184M
Mar 15, 2019 to Mar 25, 2020
HNW RAUM · $139M to $160M
Mar 15, 2019 to Mar 25, 2020
Individual RAUM · $12.2M to $21.9M
Mar 15, 2019 to Mar 25, 2020
Non-discretionary RAUM · $45.8M to $81.2M
Mar 15, 2019 to Mar 25, 2020
Pension RAUM · $45.8M to $81.2M
Mar 15, 2019 to Mar 25, 2020

Signals

7 dated events

R••••• F•••••• B••• left B•••••••• P•••••• W••••• M••••••••• L•• for B••••• P••••• A•••••••• L•• (registered 2022-07-29)
Dec 1, 2022 · Advisor changed firm · fact
W•••• C•••••••• M••••••••• left B•••••••• P•••••• W••••• M••••••••• L•• for B••••• P••••• A•••••••• L•• (registered 2022-07-29)
Jul 25, 2022 · Advisor changed firm · fact
K•••• A•••• F••••••• left B•••••••• P•••••• W••••• M••••••••• L•• for B••••• P••••• A•••••••• L•• (registered 2022-07-29)
Jul 25, 2022 · Advisor changed firm · fact
K•••• A•••• F••••••• left B•••••••• P•••••• W••••• M••••••••• L•• for B••••• P••••• A•••••••• L•• (registered 2022-07-29)
Jul 25, 2022 · Advisor changed firm · fact
B•••••••• P•••••• W••••• M••••••••• L••'s advisors moved to B••••• P••••• A•••••••• L•• (Dallas, TX): 3 of 4 registered, on the same day
Jul 25, 2022 · Firm absorbed (people side) · derived
B•••••••• P•••••• W••••• M••••••••• L•• reported RAUM $604.4M, up 98% from $304.6M (2021-04-22 to 2022-03-30)
Mar 30, 2022 · RAUM change · derived
B•••••••• P•••••• W••••• M••••••••• L•• filed its initial SEC registration (Form ADV)
Jun 20, 2017 · First SEC registration · fact

Across DFX

shared identifiers only, never a name match

No identifier-backed link to the venture, private equity, family office or sponsor graphs.

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