DFX Intelligence

RIA Intelligence

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SEC-registered adviser

N••••• A•••• M••••••••• L••

Other adviserNew York, New YorkCRD 172956SEC 801-80361website IAPD

Latest filing Mar 31, 2026

First filing on the tape Sep 15, 2014 · 18 filings

SEC status approved since Sep 30, 2014

RAUM

$57.1M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

0.0%

$0 individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

n/a

derived; firm RAUM over IAPD count

Employees

3 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

18 filings and snapshots on the tape

RAUM$57.1M as of Mar 31, 2026

Mar 27, 2015$405M then

HNW client RAUM$0 as of Mar 31, 2026

Mar 29, 2018$0 then

State-registered IARs (5.B.3)0 as of Mar 31, 2026

Mar 27, 20151 then

Employees (5.A)6 as of Mar 31, 2026

Mar 27, 201514 then

Private funds1 as of Mar 31, 2022

Mar 27, 20152 then

RAUM +91% over the last fiscal year+20% a year over threeIARs 0 to 0

Practice profile

derived from the filing of Mar 31, 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: $19.0MderivedRAUM 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: +91%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, fixed feesreportedItem 5.E
Advisory activities: portfolio management for pooled vehicles, otherreportedItem 5.G
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)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Corporations and businesses$57.1M100%

Individual clients: n/areported
HNW clients: n/areported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 3reported
Financial planning clients: 0reported
Wrap fee programs: noreported
Custody of client assets: noreported
Compensation: % of AUM, fixedreported
Class basis: private_client_share=0.0 fund_share=0.0 institutional_share=0.0 related_bd=true related_bank=false bd_reps=5.0derived

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

Every departure Every arrival

Private funds

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

Fund	Type	Gross assets	Owners	First reported
N••••• S• M•• C••••• F•••• L•••no longer reported	Hedge Fund	$121M	3	Jan 28, 2015
N••••• S••••• F•••• L•no longer reported	Hedge Fund	$226,431	3	Jan 28, 2015

Owners and control persons

Schedule A and B, latest filing

D•••••• R•• · Chief Executive Officer, Chief Compliance Officercontrol
since 06/2009 · owns less than 5%
D•••••• R•• · Limited Partnercontrol
since 06/2009 · owns 75% or more of N••••• C•••••• H••••••• L•••
D•••••• R•• · Shareholdercontrol
since 06/2009 · owns 75% or more of N••••• G•••••• P••••••• L••

Entity owners

N••••• C•••••• L•• · Sole Member Of Applicant, Managing Member
direct · owns 75% or more
N••••• C•••••• H••••••• L••• · Sole Shareholder, Managing Member
indirect · owns 75% or more of N••••• C•••••• L••
N••••• G•••••• P••••••• L•• · G•••••• Partner
indirect · owns F of N••••• C•••••• H••••••• L•••

Related persons

Schedule D 7.A

N••••• C•••••• M•••••• L••
broker-dealern

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

What changed

consecutive filings, newest first

Accounts · 4 to 3
Mar 31, 2025 to Mar 31, 2026
Pooled vehicle clients · 1 to 0
Mar 31, 2025 to Mar 31, 2026
Discretionary RAUM · $29.8M to $57.1M
Mar 31, 2025 to Mar 31, 2026
Pooled vehicle RAUM · $1.2M to $0
Mar 31, 2025 to Mar 31, 2026
RAUM · $29.8M to $57.1M
Mar 31, 2025 to Mar 31, 2026
Financial planning clients · 0 to 0
Mar 31, 2024 to Mar 31, 2025
Discretionary RAUM · $36.4M to $29.8M
Mar 31, 2024 to Mar 31, 2025
Pooled vehicle RAUM · $7.6M to $1.2M
Mar 31, 2024 to Mar 31, 2025
RAUM · $36.4M to $29.8M
Mar 31, 2024 to Mar 31, 2025
BD registered reps · 8 to 5
Apr 14, 2023 to Mar 31, 2024
Employees · 10 to 6
Apr 14, 2023 to Mar 31, 2024
Discretionary RAUM · $33.2M to $36.4M
Apr 14, 2023 to Mar 31, 2024
Pooled vehicle RAUM · $7.6M to $7.6M
Apr 14, 2023 to Mar 31, 2024
RAUM · $33.2M to $36.4M
Apr 14, 2023 to Mar 31, 2024
Accounts · 1 to 4
Mar 31, 2022 to Apr 14, 2023
Advisory employees · 2 to 3
Mar 31, 2022 to Apr 14, 2023
Advisory activities · 1 to 2
Mar 31, 2022 to Apr 14, 2023
BD registered reps · 4 to 8
Mar 31, 2022 to Apr 14, 2023
Corporate clients · unset to 3.0
Mar 31, 2022 to Apr 14, 2023
Employees · 6 to 10
Mar 31, 2022 to Apr 14, 2023
Private funds · 1 to unset
Mar 31, 2022 to Apr 14, 2023
Discretionary RAUM · $36.8M to $33.2M
Mar 31, 2022 to Apr 14, 2023
Pooled vehicle RAUM · $36.8M to $7.6M
Mar 31, 2022 to Apr 14, 2023
RAUM · $36.8M to $33.2M
Mar 31, 2022 to Apr 14, 2023
Discretionary RAUM · $39.5M to $36.8M
Mar 31, 2021 to Mar 31, 2022
Pooled vehicle RAUM · $39.5M to $36.8M
Mar 31, 2021 to Mar 31, 2022
RAUM · $39.5M to $36.8M
Mar 31, 2021 to Mar 31, 2022
Advisory employees · 5 to 2
Jun 30, 2020 to Mar 31, 2021
Discretionary RAUM · $38.8M to $39.5M
Jun 30, 2020 to Mar 31, 2021
Pooled vehicle RAUM · $38.8M to $39.5M
Jun 30, 2020 to Mar 31, 2021
RAUM · $38.8M to $39.5M
Jun 30, 2020 to Mar 31, 2021
Related bank · true to false
Jun 30, 2020 to Mar 31, 2021
Discretionary RAUM · $56.0M to $38.8M
Apr 7, 2020 to Jun 30, 2020
Pooled vehicle RAUM · $56.0M to $38.8M
Apr 7, 2020 to Jun 30, 2020
RAUM · $56.0M to $38.8M
Apr 7, 2020 to Jun 30, 2020
BD registered reps · 3 to 4
May 2, 2019 to Apr 7, 2020
Other offices · 1 to 0
May 2, 2019 to Apr 7, 2020
Discretionary RAUM · $121M to $56.0M
May 2, 2019 to Apr 7, 2020
Pooled vehicle RAUM · $121M to $56.0M
May 2, 2019 to Apr 7, 2020
RAUM · $121M to $56.0M
May 2, 2019 to Apr 7, 2020

Signals

3 dated events

Laurence James Frischling (President, Chief Compliance Officer) no longer on Schedule A of N••••• A•••• M••••••••• L•• (listed 2018-03-29, absent 2019-05-02)
May 2, 2019 · Control person left · inference
N••••• A•••• M••••••••• L•• reported RAUM $151.3M, down 56% from $346.6M (2017-02-07 to 2018-03-29)
Mar 29, 2018 · RAUM change · derived
N••••• A•••• M••••••••• L•• filed its initial SEC registration (Form ADV)
Sep 15, 2014 · 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.

How to reach

public business contact points only, each with its source

Website: N•••••.COMreportedpublic record, Form ADV, Sep 21, 2026
Principal office phone: 212 209 0850reportedpublic record, Form ADV, Mar 31, 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: Other 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