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••• R••• A•••••••• L••
Latest filing Jan 31, 2024
First filing on the tape Nov 2, 2015 · 19 filings
RAUM
$1.2B
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
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
6
$1.9B gross assets
History
19 filings and snapshots on the tape
RAUM$1.2B as of Jan 31, 2024
Mar 30, 2016$1.5B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Jan 31, 2024
Mar 30, 20165 then
Employees (5.A)6 as of Jan 31, 2024
Mar 30, 201612 then
Private funds6 as of Jan 31, 2024
Mar 30, 20166 then
RAUM -54% over the last fiscal year-34% a year over threeIARs 4 to 0
Practice profile
derived from the filing of Jan 31, 2024; 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
- $175MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 6.5%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
- -54%derivedbetween the last two annual amendments
- Advisor growth, one year
- -100%derivedItem 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 vehicles, selection of other advisersreportedItem 5.G
- Custody
- $1.2B, 7 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)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- 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)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$1.1B93%
- Pension and profit-sharing plans$80.0M6.5%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- 1reported
- Charitable clients
- n/areported
- Accounts
- 7reported
- Financial planning clients
- n/areported
- Wrap fee programs
- noreported
- Custody of client assets
- $1.2B for 7 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
Private funds
11 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| B••• R••• C•••••• F•••• L••• | Hedge Fund | $700M | 14 | Mar 30, 2012 |
| B••• R••• L••••• A•••• F•••• L••• | Hedge Fund | $564M | 7 | Mar 28, 2014 |
| B••• R••• E••••• P••• F•••• L••• | Hedge Fund | $442M | 6 | Mar 30, 2012 |
| B••• R••• A•• A•••• P••• F•••• L•••no longer reported | Hedge Fund | $154M | 2 | Mar 26, 2015 |
| B••• R••• P••• F•••• L••• • P••••••••• S••••••••• P•••••••• A• | Hedge Fund | $143M | 4 | Sep 29, 2017 |
| B••• R••• C•••••• F••• I•• L•••no longer reported | Hedge Fund | $84.2M | 4 | Mar 30, 2012 |
| B••• R••• P••• F•••• L••• • P••••••••• S••••••••• P•••••••• F• | Hedge Fund | $55.3M | 2 | Jul 31, 2018 |
| B••• R••• P••• F•••• L••• • P••••••••• S••••••••• P•••••••• E•no longer reported | Hedge Fund | $34.8M | 2 | Nov 1, 2018 |
| B••• R••• P••• F•••• L••• • P••••••••• S••••••••• P•••••••• D•no longer reported | Hedge Fund | $34.8M | 2 | Nov 1, 2018 |
| B••• R••• F•••• I••••• P••• F•••• L••• | Hedge Fund | $25.0M | 2 | Mar 30, 2012 |
| B••• R••• P••• F•••• L••• • P••••••••• S••••••••• P•••••••• B• | Hedge Fund | $20.0M | 4 | Jul 31, 2018 |
Owners and control persons
Schedule A and B, latest filing
- B•••••••• R•••••• J••• · Chief Executive Officer, Chief Investment Officercontrolsince 09/2015 · owns 10% to 25%
- E•••••••• S••••••••• V• · Chief Financial Officercontrolsince 08/2021 · owns less than 5%
- K••••••• A•••••• M••••• · Chief Operating Officer And Chief Compliance Officercontrolsince 09/2015 · owns less than 5%
- S••••• M•••• F•••••••• · Principalcontrolsince 09/2015 · owns 5% to 10%
- F••••••••• R•••••• W••••• · Principalcontrolsince 12/1989 · owns 50% to 75% of B••• R••• Advisors, Inc.
- S••••• M•••• F•••••••• · Prinicpalcontrolsince 07/1991 · owns 25% to 50% of B••• R••• Advisors, Inc.
Entity owners
- B••• R••• A••••••• I•• · Memberdirect · owns 75% or more
Related persons
Schedule D 7.A
No related person reported.
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 8 to 7Mar 28, 2023 to Jan 31, 2024
- Advisory employees · 6 to 3Mar 28, 2023 to Jan 31, 2024
- Pooled vehicle clients · 7 to 6Mar 28, 2023 to Jan 31, 2024
- Assets in custody · $2.7B to $1.2BMar 28, 2023 to Jan 31, 2024
- Employees · 10 to 6Mar 28, 2023 to Jan 31, 2024
- HQ city · WAYZATA to EXCELSIORMar 28, 2023 to Jan 31, 2024
- State-registered IARs · 4 to 0Mar 28, 2023 to Jan 31, 2024
- Private funds · 7 to 6Mar 28, 2023 to Jan 31, 2024
- Discretionary RAUM · $2.7B to $1.2BMar 28, 2023 to Jan 31, 2024
- Pension RAUM · $334M to $80.0MMar 28, 2023 to Jan 31, 2024
- Pooled vehicle RAUM · $2.3B to $1.1BMar 28, 2023 to Jan 31, 2024
- RAUM · $2.7B to $1.2BMar 28, 2023 to Jan 31, 2024
- Assets in custody · $3.8B to $2.7BMar 31, 2022 to Mar 28, 2023
- Discretionary RAUM · $3.8B to $2.7BMar 31, 2022 to Mar 28, 2023
- Pension RAUM · $447M to $334MMar 31, 2022 to Mar 28, 2023
- Pooled vehicle RAUM · $3.3B to $2.3BMar 31, 2022 to Mar 28, 2023
- RAUM · $3.8B to $2.7BMar 31, 2022 to Mar 28, 2023
- Accounts · 11 to 8Aug 5, 2021 to Mar 31, 2022
- Pooled vehicle clients · 10 to 7Aug 5, 2021 to Mar 31, 2022
- Assets in custody · $4.2B to $3.8BAug 5, 2021 to Mar 31, 2022
- Employees · 11 to 10Aug 5, 2021 to Mar 31, 2022
- Private funds · 10 to 7Aug 5, 2021 to Mar 31, 2022
- Discretionary RAUM · $4.2B to $3.8BAug 5, 2021 to Mar 31, 2022
- Pension RAUM · $431M to $447MAug 5, 2021 to Mar 31, 2022
- Pooled vehicle RAUM · $3.8B to $3.3BAug 5, 2021 to Mar 31, 2022
- RAUM · $4.2B to $3.8BAug 5, 2021 to Mar 31, 2022
- Assets in custody · $3.7B to $4.2BMar 30, 2020 to Mar 23, 2021
- Discretionary RAUM · $3.7B to $4.2BMar 30, 2020 to Mar 23, 2021
- Pension RAUM · $360M to $431MMar 30, 2020 to Mar 23, 2021
- Pooled vehicle RAUM · $3.4B to $3.8BMar 30, 2020 to Mar 23, 2021
- RAUM · $3.7B to $4.2BMar 30, 2020 to Mar 23, 2021
- Assets in custody · $2.8B to $3.7BJul 1, 2019 to Mar 30, 2020
- Discretionary RAUM · $2.8B to $3.7BJul 1, 2019 to Mar 30, 2020
- Pension RAUM · $295M to $360MJul 1, 2019 to Mar 30, 2020
- Pooled vehicle RAUM · $2.5B to $3.4BJul 1, 2019 to Mar 30, 2020
- RAUM · $2.8B to $3.7BJul 1, 2019 to Mar 30, 2020
- Accounts · 7 to 11Nov 1, 2018 to Mar 27, 2019
- BD registered reps · 0 to 1Nov 1, 2018 to Mar 27, 2019
- Pooled vehicle clients · 6 to 10Nov 1, 2018 to Mar 27, 2019
- Assets in custody · $2.5B to $2.8BNov 1, 2018 to Mar 27, 2019
Signals
9 dated events
- B••• R••• A•••••••• L•• reported RAUM $1.2B, down 54% from $2.7B (2023-03-28 to 2024-01-31)Jan 31, 2024 · RAUM change · derived
- William Gregory Swaim (Managing Director - Research) no longer on Schedule A of B••• R••• A•••••••• L•• (listed 2023-03-28, absent 2024-01-31)Jan 31, 2024 · Control person left · inference
- B••• R••• A•••••••• L•• reported RAUM $2.7B, down 29% from $3.8B (2022-03-31 to 2023-03-28)Mar 28, 2023 · RAUM change · derived
- V Sviatlana Erickson (Chief Financial Officer) appeared on Schedule A of B••• R••• A•••••••• L••Aug 5, 2021 · Control person joined · fact
- B••• R••• A•••••••• L•• reported RAUM $3.7B, up 35% from $2.8B (2019-07-01 to 2020-03-30)Mar 30, 2020 · RAUM change · derived
- Ty Jae Poong Lee (Chief Financial Officer) no longer on Schedule A of B••• R••• A•••••••• L•• (listed 2019-05-21, absent 2019-07-01)Jul 1, 2019 · Control person left · inference
- William Gregory Swaim (Managing Director - Research) appeared on Schedule A of B••• R••• A•••••••• L••Mar 27, 2019 · Control person joined · fact
- B••• R••• A•••••••• L•• reported RAUM $2.5B, up 27% from $2.0B (2017-09-29 to 2018-03-29)Mar 29, 2018 · RAUM change · derived
- B••• R••• A•••••••• L•• filed its initial SEC registration (Form ADV)Nov 2, 2015 · 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