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
Q•• E••••• I•••••••• L••
Latest filing Mar 20, 2025
First filing on the tape Mar 21, 2023 · 7 filings
SEC status approved since Apr 26, 2023
RAUM
$113M
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
19%
$21.9M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
3
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
7 filings and snapshots on the tape
RAUM$113M as of Mar 20, 2025
Mar 31, 2023$103M then
HNW client RAUM$18.4M as of Mar 20, 2025
Mar 31, 2023$21.8M then
State-registered IARs (5.B.3)3 as of Mar 20, 2025
Mar 31, 20234 then
Employees (5.A)3 as of Mar 20, 2025
Mar 31, 20234 then
Private funds: no history
RAUM +2.0% over the last fiscal yearIARs 3 to 3
Practice profile
derived from the filing of Mar 20, 2025; every figure names its basis
- RAUM per advisor
- $37.8MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 5derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.1MderivedHNW RAUM over HNW clients
- Average account
- $2.6MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 99%derivedof RAUM
- Institutional
- 81%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 3.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +2.0%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -13%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 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
- 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
- State and municipal entities$88.6M78%
- High-net-worth individuals$18.4M16%
- Individuals$3.6M3.2%
- Charitable organizations$2.8M2.4%
- Individual clients
- 8reported
- HNW clients
- 6reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 43reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUMreported
- 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
2 left, 0 joined in 12 months
net -2 in 12 months0 left in 90 days0 joined in 90 days2 left over 36 months
Left, latest
- R•••••• W•••••• H••••• to H••••• C•••••• M•••••••••Feb 5, 2026 · Other
- J•••••• R••••• K•••• to H••••• C•••••• M•••••••••Feb 5, 2026 · Other
- J••••• N•• F••••••• to R•••• W••••• G•••• L••May 6, 2023 · RIA to RIA
- J••• C••••••••• L•••••• to R••••• W• B•••• • C•• I•••••••••Dec 6, 2022 · RIA to RIA
- W•••••• E••••• D••••••• to O•• F••••• A•••••••• L••Dec 3, 2019 · RIA to RIA
- G••• J••••• S•••••••• to V••••• A•••• M••••••••• L••Dec 31, 2016 · RIA to RIA
Joined, latest
- J••••• N•• F••••••• from E•• C•••• P•••••••• L••Jul 2, 2020 · Other
- W•••••• E••••• D••••••• from C••• C••••••• L••Oct 20, 2017 · Other
- G••• J••••• S•••••••• from B•••• H••• C•••••• M••••••••• L••Apr 1, 2016 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 left for H••••• C•••••• M•••••••••Feb 5, 2026 · Naperville, Il
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- K••••• J••••••• R••••• · Chief Compliance Officer, Co-Founder, Ceocontrolsince 05/2023 · owns less than 5%
- H•••••• R•••••• W•••••• · Ownercontrolsince 12/2012 · owns 75% or more of R•••••• W• H••••• L••••• T••••
- K••••• J••••••• R••••• · Ownercontrolsince 08/2005 · owns 75% or more of J•••••• R• K•••• 2••• D••••••••• O• T••••
- M••••••• D••••• G•••••• · Ownercontrolsince 05/2007 · owns 75% or more of T•• D•••• G•••••• M•••••• R•••••••• T••••
Entity owners
- J•••••• R• K•••• 2••• D••••••••• O• T•••• · Memberdirect · owns 25% to 50%
- R•••••• W• H••••• L••••• T•••• · Memberdirect · owns 25% to 50%
- T•• D•••• G•••••• M•••••• R•••••••• T•••• · Memberdirect · owns 10% to 25%
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 |
|---|---|---|---|---|---|
| Naperville, Il | 0 | 0 | 2 | 1 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- HNW clients · 8 to 6Mar 21, 2024 to Mar 20, 2025
- Financial planning clients · 0 to 0Mar 21, 2024 to Mar 20, 2025
- HQ city · NAPERVILLE to Mar 21, 2024 to Mar 20, 2025
- HQ state · IL to Mar 21, 2024 to Mar 20, 2025
- Discretionary RAUM · $110M to $112MMar 21, 2024 to Mar 20, 2025
- HNW RAUM · $20.5M to $18.4MMar 21, 2024 to Mar 20, 2025
- Individual RAUM · $3.2M to $3.6MMar 21, 2024 to Mar 20, 2025
- Non-discretionary RAUM · $876,892 to $872,467Mar 21, 2024 to Mar 20, 2025
- RAUM · $111M to $113MMar 21, 2024 to Mar 20, 2025
- Accounts · 41 to 43May 6, 2023 to Mar 21, 2024
- Corporate clients · 0.0 to unsetMay 6, 2023 to Mar 21, 2024
- HNW clients · 14 to 8May 6, 2023 to Mar 21, 2024
- Individual clients · unset to 8.0May 6, 2023 to Mar 21, 2024
- Pension plan clients · 0.0 to unsetMay 6, 2023 to Mar 21, 2024
- Pooled vehicle clients · 0.0 to unsetMay 6, 2023 to Mar 21, 2024
- Discretionary RAUM · $102M to $110MMay 6, 2023 to Mar 21, 2024
- HNW RAUM · $21.8M to $20.5MMay 6, 2023 to Mar 21, 2024
- Individual RAUM · $175,287 to $3.2MMay 6, 2023 to Mar 21, 2024
- Non-discretionary RAUM · $1.1M to $876,892May 6, 2023 to Mar 21, 2024
- Pension RAUM · 0.0 to unsetMay 6, 2023 to Mar 21, 2024
- Pooled vehicle RAUM · 0.0 to unsetMay 6, 2023 to Mar 21, 2024
- RAUM · $103M to $111MMay 6, 2023 to Mar 21, 2024
- Advisory employees · 4 to 3Apr 26, 2023 to May 6, 2023
- Employees · 4 to 3Apr 26, 2023 to May 6, 2023
- State-registered IARs · 4 to 3Apr 26, 2023 to May 6, 2023
- Business name · B•••••• E••••• M••••••••• to Q•• E••••• I•••••••• L••Mar 31, 2023 to Apr 24, 2023
- Legal name · B•••••• E••••• M••••••••• LLC to Q•• E••••• I•••••••• L••Mar 21, 2023 to Mar 31, 2023
Signals
8 dated events
- Q•• E••••• I•••••••• L•• no longer on the SEC adviser roster (last listed 2026-02-02, RAUM $113.3M)Mar 2, 2026 · Left the SEC roster · derived
- R•••••• W•••••• H••••• left Q•• E••••• I•••••••• L•• for H••••• C•••••• M••••••••• (registered 2026-02-27)Feb 5, 2026 · Advisor changed firm · fact
- J•••••• R••••• K•••• left Q•• E••••• I•••••••• L•• for H••••• C•••••• M••••••••• (registered 2026-02-20)Feb 5, 2026 · Advisor changed firm · fact
- 2 advisors left Q•• E••••• I•••••••• L•• (Naperville, IL) for H••••• C•••••• M••••••••• on the same dayFeb 5, 2026 · Team lift-out · derived
- J••••• N•• F••••••• left Q•• E••••• I•••••••• L•• for R•••• W••••• G•••• L•• (registered 2023-05-23)May 6, 2023 · Advisor changed firm · fact
- Joshua Freedman (Chief Compliance Officer) no longer on Schedule A of Q•• E••••• I•••••••• L•• (listed 2023-04-26, absent 2023-05-06)May 6, 2023 · Control person left · inference
- B•••••• E••••• M••••••••• filed its initial SEC registration (Form ADV)Mar 21, 2023 · First SEC registration · fact
- J••• C••••••••• L•••••• left Q•• E••••• I•••••••• L•• for R••••• W• B•••• • C•• I••••••••• (registered 2022-11-30)Dec 6, 2022 · Advisor changed firm · 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