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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SEC-registered adviser
P•• F•••••••• G••••
Legal name P•• F•••••••• G••••• L••
Latest filing Jun 25, 2026
First filing on the tape May 26, 2016 · 55 filings
SEC status approved since Jun 3, 2016
RAUM
$747M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$747M individuals and HNW
Advisors
16
registered through the firm on IAPD
RAUM per advisor
$46.7M
derived; firm RAUM over IAPD count
Employees
22
11 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
55 filings and snapshots on the tape
RAUM$747M as of Jun 25, 2026
Mar 9, 2017$177M then
HNW client RAUM$396M as of Jun 25, 2026
Mar 27, 2018$90.9M then
State-registered IARs (5.B.3)14 as of Jun 25, 2026
Mar 9, 20176 then
Employees (5.A)22 as of Jun 25, 2026
Mar 9, 201717 then
Private funds: no history
RAUM +2.6% over the last fiscal year+15% a year over threeIARs 17 to 14offices 1 to 2
Practice profile
derived from the filing of Jun 25, 2026; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
- RAUM per advisor
- $46.7MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 84derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.3MderivedHNW RAUM over HNW clients
- Average account
- $191,560derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.4derivedItem 5.A over advisors
- Advisors per office
- 5.3derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +2.6%derivedbetween the last two annual amendments
- Advisor growth, one year
- -18%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -46%derived
- Compensation
- percentage of assets, fixed fees, otherreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, selection of other advisers, educational seminars, otherreportedItem 5.G
- Wrap fee program
- $726MreportedItem 5.I
- Custody
- $454M, 1,494 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
- 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)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$396M53%
- Individuals$351M47%
- Individual clients
- 1,176reported
- HNW clients
- 174reported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 3,900reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- $0 sponsored, $0 managedreported
- Custody of client assets
- $454M for 1,494 clientsreported
- Compensation
- % of AUM, fixedreported
- Class basis
- private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
16 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| D••••• W••••• L••••Certified Financial Planner | San Antonio, Tx | Jun 6, 2016 | 26 y | 4 |
| L•••• L•••• S••••••Certified Financial Planner | San Antonio, Tx | Jun 7, 2016 | 17 y | 2 |
| B•••• A•••••• W•••Certified Financial Planner | San Antonio, Tx | Jun 13, 2016 | 20 y | 4 |
| J••••• M••••• B••••• | San Antonio, Tx | Jun 15, 2016 | 18 y | 1 |
| C•••••• R••••••• G•••••Certified Financial Planner | San Antonio, Tx | Feb 7, 2019 | 28 y | 6 |
| D•••• K• A••••••Certified Financial Planner | San Antonio, Tx | Sep 26, 2019 | 20 y | 1 |
| R•••• G••• S••••••Certified Financial Planner, Chartered Financial Consultant | San Antonio, Tx | Oct 21, 2020 | 13 y | 2 |
| M••••• S• C•••••••• | San Antonio, Tx | May 12, 2021 | 16 y | 1 |
| J••••••• M•••••• F•••••••• | San Antonio, Tx | Mar 31, 2022 | 11 y | 0 |
| J•••• K•••• C•••••••Certified Financial Planner | San Antonio, Tx | Apr 4, 2022 | 13 y | 0 |
| R••••• P••• Z••••• | San Antonio, Tx | Jun 8, 2022 | 13 y | 1 |
| J••••••• H•••• W••• | San Antonio, Tx | Aug 29, 2022 | 14 y | 0 |
| M••••• M•••• T•••• | San Antonio, Tx | Dec 21, 2024 | 14 y | 0 |
| S••••• E••••• J••••• | San Antonio, Tx | Jul 10, 2025 | 23 y | 1 |
| J••••• E•••••• Y••••Chartered Financial Analyst | San Antonio, Tx | Apr 23, 2026 | 17 y | 3 |
| D••••• S•••••• R••••• | San Antonio, Tx | Jun 26, 2026 | 10 y | 2 |
Advisor movement
0 left, 2 joined in 12 months
net +2 in 12 months0 left in 90 days1 joined in 90 daysdeparture rate 0.0% of current headcount2 left over 36 months
Left, latest
- M•••••• M•••• A••••• R••••• to W•••• I••••••••• A•••••••• L••Jul 31, 2025 · Other
- J••••• R••••• S••••••• to S•••••••• A•••••••• L••May 19, 2025 · RIA to affiliated broker-dealer or bank
- A•••••••• G• I•••• to S••• I••••••••• C••••••Feb 10, 2021 · RIA to RIA
- J•• D•••••• C••••• to I••••••••• L••••• F•Jan 11, 2021 · RIA to a state-registered adviser
- D•••••• J•••• R••••••••• to F••• O••• F•••••••• L••Jul 17, 2020 · RIA to a state-registered adviser
- K•••• F•••• to F•••• A••••• L••Nov 13, 2019 · RIA to a state-registered adviser
Joined, latest
- D••••• S•••••• R••••• from N••••••••• M••••• I••••••••• S•••••••••Jun 26, 2026 · Other
- J••••• E•••••• Y•••• from W•••••••••Apr 23, 2026 · RIA to RIA
- S••••• E••••• J••••• from B••••••• W••••• S••••••••Jul 10, 2025 · RIA to RIA
- R••••• P••• Z••••• from E•••••••• A•••••••• L••Jun 8, 2022 · Affiliated broker-dealer or bank to independent RIA
- M••••• S• C•••••••• from W••• F•••••••• A•••••••May 12, 2021 · RIA to RIA
- R•••• G••• S•••••• from W•••••• • R•••Oct 21, 2020 · Affiliated broker-dealer or bank to independent RIA
- J•• D•••••• C••••• from F••••••• P••••••• A•• W•••••••• A•••••••Nov 16, 2019 · Affiliated broker-dealer or bank to independent RIA
- D•••• K• A•••••• from I••••••••• W••••• A•••••••• L••Sep 26, 2019 · RIA to RIA
- C•••••• R••••••• G••••• from U••• I••••••••• S••••••• C••••••Feb 7, 2019 · Affiliated broker-dealer or bank to independent RIA
- J••••• M••••• B••••• from L•• F•••••••• L••Jun 15, 2016 · Other
- K•••• F•••• from A•••••• R••••••• C••••••Jun 13, 2016 · Other
- B•••• A•••••• W••• from A•••••• R••••••• C••••••Jun 13, 2016 · Other
- J••••• R••••• S••••••• from A•••••• R••••••• C••••••Jun 7, 2016 · Other
- L•••• L•••• S•••••• from A•••••• R••••••• C••••••Jun 7, 2016 · Other
- D••••• W••••• L•••• from A•••••• R••••••• C••••••Jun 6, 2016 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 5 joined from A•••••• R••••••• C••••••Sep 14, 2016 · Dallas, Tx
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- L••••• D•••••• W••••• · Ceo, Managing Membercontrolsince 01/2007 · owns 25% to 50%
- S•••••••• J•••••• R• · Cofounder, Managing Membercontrolsince 01/2007 · owns 25% to 50%
- A••••••• D••••• K• · Membersince 01/2023 · owns less than 5%
- B•••••• J•••••• M••••• · Presidentsince 07/2016 · owns 5% to 10%
- C•••••••• C••••••• D••• · Membersince 01/2023 · owns less than 5%
- E••••••• J•••••• P••• · Membersince 01/2016 · owns less than 5%
- F••••••••• J•••••••• M•••••• · Membersince 01/2023 · owns less than 5%
- S••••••••• G•••• J••••• · Chief Compliance Officersince 06/2020 · owns less than 5%
- S••••••• L••••• L•••• · Membersince 01/2023 · owns less than 5%
- S••••••• R••••• G••• · Membersince 01/2023 · owns less than 5%
- W•••• J•••••••• H•••• · Membersince 01/2023 · owns less than 5%
- W•••• B••••• A•••••• · Membersince 01/2023 · owns less than 5%
Related persons
Schedule D 7.A
- P•• F•••••••• G••••• L••real estatey
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| San Antonio, Tx · principal | 16 | 2 | 0 |
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- clients down average size upCombination · filing Mar 31, 2026private clients fell 20 percent or more while RAUM per client rose 30 percent or more: a move up-market or the departure of small accounts. RAUM $728,473,115 to $747,082,147, advisors 17 to 14, private clients 2479 to 1350, offices 1 to 2 (2025-03-11 to 2026-03-31)peers: independent wealth managers, $500M to $1B (1,482)
- client count collapseChange between filings · filing Mar 31, 2026individual and HNW clients (Item 5.D) moved from 2,479.0 to 1,350.0 (-46.0%) between the annual amendments of 2025-03-11 and 2026-03-31; the peer median change was +5.0% (1216 comparable advisers, 2.0th percentile of changes)peers: independent wealth managers, $500M to $1B (1,216) · 1.8% percentile
What changed
consecutive filings, newest first
- Accounts · 4,249 to 3,900Aug 7, 2025 to Feb 11, 2026
- Advisory employees · 12 to 11Aug 7, 2025 to Feb 11, 2026
- HNW clients · 143 to 174Aug 7, 2025 to Feb 11, 2026
- Individual clients · 2,336 to 1,176Aug 7, 2025 to Feb 11, 2026
- Assets in custody · $400M to $454MAug 7, 2025 to Feb 11, 2026
- Employees · 24 to 22Aug 7, 2025 to Feb 11, 2026
- State-registered IARs · 17 to 14Aug 7, 2025 to Feb 11, 2026
- Discretionary RAUM · $728M to $747MAug 7, 2025 to Feb 11, 2026
- HNW RAUM · $291M to $396MAug 7, 2025 to Feb 11, 2026
- Individual RAUM · $438M to $351MAug 7, 2025 to Feb 11, 2026
- RAUM · $728M to $747MAug 7, 2025 to Feb 11, 2026
- Other offices · 1 to 2Jul 9, 2025 to Aug 7, 2025
- Financial planning clients · 51-100 to 51-100Mar 11, 2025 to Jul 9, 2025
- RAUM · $600M to $728MFeb 12, 2025 to Mar 11, 2025
- Accounts · 4,098 to 4,249Feb 12, 2025 to Mar 11, 2025
- Advisory employees · 11 to 12Feb 12, 2025 to Mar 11, 2025
- HNW clients · 148 to 143Feb 12, 2025 to Mar 11, 2025
- Individual clients · 1,991 to 2,336Feb 12, 2025 to Mar 11, 2025
- Assets in custody · $309M to $400MFeb 12, 2025 to Mar 11, 2025
- State-registered IARs · 16 to 17Feb 12, 2025 to Mar 11, 2025
- Discretionary RAUM · $600M to $728MFeb 12, 2025 to Mar 11, 2025
- HNW RAUM · $196M to $291MFeb 12, 2025 to Mar 11, 2025
- Individual RAUM · $404M to $438MFeb 12, 2025 to Mar 11, 2025
- Accounts · 4,078 to 4,098Jan 18, 2024 to Mar 13, 2024
- Advisory employees · 10 to 11Jan 18, 2024 to Mar 13, 2024
- HNW clients · 78 to 148Jan 18, 2024 to Mar 13, 2024
- Individual clients · 2,092 to 1,991Jan 18, 2024 to Mar 13, 2024
- Assets in custody · $462M to $309MJan 18, 2024 to Mar 13, 2024
- Employees · 22 to 24Jan 18, 2024 to Mar 13, 2024
- State-registered IARs · 15 to 16Jan 18, 2024 to Mar 13, 2024
- Discretionary RAUM · $495M to $600MJan 18, 2024 to Mar 13, 2024
- HNW RAUM · $160M to $196MJan 18, 2024 to Mar 13, 2024
- Individual RAUM · $335M to $404MJan 18, 2024 to Mar 13, 2024
- RAUM · $495M to $600MJan 18, 2024 to Mar 13, 2024
- Other offices · 2 to 1Mar 30, 2023 to Apr 7, 2023
- Accounts · 3,686 to 4,078Nov 14, 2022 to Mar 17, 2023
- Advisory employees · 9 to 10Nov 14, 2022 to Mar 17, 2023
- Advisory activities · 4 to 5Nov 14, 2022 to Mar 17, 2023
- HNW clients · 115 to 78Nov 14, 2022 to Mar 17, 2023
- Individual clients · 1,196 to 2,092Nov 14, 2022 to Mar 17, 2023
Signals
5 dated events
- M•••••• M•••• A••••• R••••• left P•• F•••••••• G•••• for W•••• I••••••••• A•••••••• L•• (registered 2025-06-10)Jul 31, 2025 · a•••••• firm change · fact
- J••••• R••••• S••••••• left P•• F•••••••• G•••• for S•••••••• A•••••••• L•• (registered 2025-05-22)May 19, 2025 · a•••••• firm change · fact
- P•• F•••••••• G•••• reported RAUM $444.5M, up 45% from $305.7M (2020-12-09 to 2021-02-13)Feb 13, 2021 · RAUM change · derived
- G Alejandro Ireta (Chief Compliance Officer) no longer on Schedule A of P•• F•••••••• G•••• (listed 2020-06-25, absent 2020-06-29)Jun 29, 2020 · Control person left · inference
- P•• F•••••••• G•••• filed its initial SEC registration (Form ADV)May 26, 2016 · 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
- Business phone
- 210-881-5698reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 210-881-5700reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- PAXFINANCIALGROUP.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 210-881-5700reportedpublic record, Form ADV, Jun 25, 2026
- Team page
- paxfinancialgroup.com/about-pax/our-teamreportedpublished by the firm, firm site, Sep 15, 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
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $46.7Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026