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

N•••••• C••••••• L•••

Former SEC-registered adviserNew York, New YorkCRD 173617SEC 801-80626websiteIAPD
Latest filing Mar 27, 2026
First filing on the tape Nov 14, 2014 · 16 filings
SEC status approved since Jan 2, 2015
RAUM
$852M
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
9
5 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
2
reported on Schedule D
History
16 filings and snapshots on the tape
RAUM$852M as of Mar 27, 2026
Mar 30, 2016$402M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 27, 2026
Mar 30, 20160 then
Employees (5.A)9 as of Mar 27, 2026
Mar 30, 20169 then
Private funds2 as of Mar 27, 2026
Mar 30, 20162 then
RAUM -44% over the last fiscal year-30% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 27, 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
$284MderivedRAUM 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
-44%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
$852M, 3 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)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • 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$852M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
3reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$852M for 3 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
      2 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      N•••••• M••••• F•••• L•••Hedge Fund$980M92Nov 14, 2014
      N•••••• F•••• L•••Hedge Fund$773M95Nov 14, 2014
      Owners and control persons
      Schedule A and B, latest filing
      • M•••••••• T•••• L••• · General Counsel And Chief Compliance Officercontrol
        since 06/2020 · owns less than 5%
      • M•••••• B••••••• P•••• · Principal And Chief Financial Officercontrol
        since 08/2014 · owns less than 5%
      • R••••• S•••• D•••• · Managing Partner; Trustee - R•••• F••••• T••••control
        since 07/2014 · owns 75% or more
      • R••••• S•••• D•••• · Managing Membercontrol
        since 07/2014 · owns 75% or more of N•••••• C•••••• G•• L••
      • S•••••• A•••••• B••••• · Trustee - R•••• F••••• T••••
        since 03/2018 · owns 5% to 10%
      Entity owners
      • N•••••• C•••••• G•• L•• · General Partner
        direct · owns less than 5%
      • R•••• F••••• T•••• · Limited Partner
        direct · owns 5% to 10%
      Related persons
      Schedule D 7.A
      • N•••••• G•• L••
        bankpooled vehicle sponsorn
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Advisory employees · 6 to 5
        Nov 17, 2025 to Mar 27, 2026
      • Assets in custody · $1.5B to $852M
        Nov 17, 2025 to Mar 27, 2026
      • Employees · 12 to 9
        Nov 17, 2025 to Mar 27, 2026
      • Discretionary RAUM · $1.5B to $852M
        Nov 17, 2025 to Mar 27, 2026
      • Pooled vehicle RAUM · $1.5B to $852M
        Nov 17, 2025 to Mar 27, 2026
      • RAUM · $1.5B to $852M
        Nov 17, 2025 to Mar 27, 2026
      • Advisory employees · 7 to 6
        Mar 28, 2024 to Mar 28, 2025
      • Assets in custody · $1.8B to $1.5B
        Mar 28, 2024 to Mar 28, 2025
      • Employees · 13 to 12
        Mar 28, 2024 to Mar 28, 2025
      • Financial planning clients · unset to
        Mar 28, 2024 to Mar 28, 2025
      • Discretionary RAUM · $1.8B to $1.5B
        Mar 28, 2024 to Mar 28, 2025
      • Pooled vehicle RAUM · $1.8B to $1.5B
        Mar 28, 2024 to Mar 28, 2025
      • RAUM · $1.8B to $1.5B
        Mar 28, 2024 to Mar 28, 2025
      • Advisory employees · 9 to 7
        Mar 31, 2023 to Mar 28, 2024
      • Assets in custody · $2.5B to $1.8B
        Mar 31, 2023 to Mar 28, 2024
      • Employees · 16 to 13
        Mar 31, 2023 to Mar 28, 2024
      • Discretionary RAUM · $2.5B to $1.8B
        Mar 31, 2023 to Mar 28, 2024
      • Pooled vehicle RAUM · $2.5B to $1.8B
        Mar 31, 2023 to Mar 28, 2024
      • RAUM · $2.5B to $1.8B
        Mar 31, 2023 to Mar 28, 2024
      • Advisory employees · 8 to 9
        Mar 30, 2022 to Mar 31, 2023
      • Assets in custody · $4.1B to $2.5B
        Mar 30, 2022 to Mar 31, 2023
      • Employees · 15 to 16
        Mar 30, 2022 to Mar 31, 2023
      • Discretionary RAUM · $4.1B to $2.5B
        Mar 30, 2022 to Mar 31, 2023
      • Pooled vehicle RAUM · $4.1B to $2.5B
        Mar 30, 2022 to Mar 31, 2023
      • RAUM · $4.1B to $2.5B
        Mar 30, 2022 to Mar 31, 2023
      • Advisory employees · 9 to 8
        Mar 30, 2021 to Mar 30, 2022
      • Assets in custody · $4.7B to $4.1B
        Mar 30, 2021 to Mar 30, 2022
      • Employees · 16 to 15
        Mar 30, 2021 to Mar 30, 2022
      • Discretionary RAUM · $4.7B to $4.1B
        Mar 30, 2021 to Mar 30, 2022
      • Pooled vehicle RAUM · $4.7B to $4.1B
        Mar 30, 2021 to Mar 30, 2022
      • RAUM · $4.7B to $4.1B
        Mar 30, 2021 to Mar 30, 2022
      • Assets in custody · $3.8B to $4.7B
        Jun 12, 2020 to Mar 30, 2021
      • Employees · 15 to 16
        Jun 12, 2020 to Mar 30, 2021
      • Discretionary RAUM · $3.8B to $4.7B
        Jun 12, 2020 to Mar 30, 2021
      • Pooled vehicle RAUM · $3.8B to $4.7B
        Jun 12, 2020 to Mar 30, 2021
      • RAUM · $3.8B to $4.7B
        Jun 12, 2020 to Mar 30, 2021
      • Assets in custody · $4.0B to $3.8B
        Mar 26, 2020 to Jun 12, 2020
      • Discretionary RAUM · $4.0B to $3.8B
        Mar 26, 2020 to Jun 12, 2020
      • Pooled vehicle RAUM · $4.0B to $3.8B
        Mar 26, 2020 to Jun 12, 2020
      • RAUM · $4.0B to $3.8B
        Mar 26, 2020 to Jun 12, 2020
      Signals
      9 dated events
      • N•••••• C••••••• L••• no longer on the SEC adviser roster (last listed 2026-04-01, RAUM $852.1M)
        May 1, 2026 · Left the SEC roster · derived
      • N•••••• C••••••• L••• reported RAUM $852.1M, down 44% from $1.5B (2025-11-17 to 2026-03-27)
        Mar 27, 2026 · RAUM change · derived
      • N•••••• C••••••• L••• reported RAUM $1.8B, down 30% from $2.5B (2023-03-31 to 2024-03-28)
        Mar 28, 2024 · RAUM change · derived
      • N•••••• C••••••• L••• reported RAUM $2.5B, down 39% from $4.1B (2022-03-30 to 2023-03-31)
        Mar 31, 2023 · RAUM change · derived
      • Lisa Tara Mccarthy (General Counsel & Chief Compliance Officer) appeared on Schedule A of N•••••• C••••••• L•••
        Jun 12, 2020 · Control person joined · fact
      • N•••••• C••••••• L••• reported RAUM $4.0B, up 74% from $2.3B (2019-03-28 to 2020-01-15)
        Jan 15, 2020 · RAUM change · derived
      • N•••••• C••••••• L••• reported RAUM $2.3B, up 36% from $1.7B (2018-03-29 to 2019-03-28)
        Mar 28, 2019 · RAUM change · derived
      • N•••••• C••••••• L••• reported RAUM $1.7B, up 164% from $641.5M (2017-03-30 to 2018-03-29)
        Mar 29, 2018 · RAUM change · derived
      • N•••••• C••••••• L••• filed its initial SEC registration (Form ADV)
        Nov 14, 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