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Former SEC-registered adviser

V••••• F••••••••• S•

Former SEC-registered adviserLugano, Ticino, CRD 284243SEC 801-108363IAPD
Latest filing Nov 13, 2019
First filing on the tape Aug 31, 2016 · 6 filings
RAUM
$1.3B
reported, Item 5.F
Discretionary
93%
of RAUM
Private clients
46%
$576M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
20
18 advisory (5.B.1)
Offices
4
beyond the principal office
Private funds
0
reported on Schedule D
History
6 filings and snapshots on the tape
RAUM$1.3B as of Mar 21, 2019
Mar 24, 2017$1.1B then
HNW client RAUM$536M as of Mar 21, 2019
Mar 28, 2018$551M then
State-registered IARs (5.B.3)0 as of Mar 21, 2019
Mar 24, 20170 then
Employees (5.A)20 as of Mar 21, 2019
Mar 24, 201720 then
Private funds: no history
RAUM -6.1% over the last fiscal yearIARs 0 to 0offices 3 to 4
Practice profile
derived from the filing of Nov 13, 2019; 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
$8.8MderivedHNW RAUM over HNW clients
Average account
$3.2MderivedRAUM over accounts (5.F.2.f)
Discretionary
93%derivedof RAUM
Institutional
27%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived5 offices incl. principal (1.F.5)
RAUM growth, one year
-6.1%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
+9.3%derived
Compensation
percentage of assets, performance-basedreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutions, 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
  • 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$536M57%
  • Insurance companies$331M35%
  • Individuals$39.7M4.2%
  • Corporations and businesses$37.9M4.0%
  • Charitable organizations$1.1M0.1%
Individual clients
92reported
HNW clients
61reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
397reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
noreported
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
      No private fund reported.
      Owners and control persons
      Schedule A and B, latest filing
      • A••••• L••• · General Managercontrol
        since 10/2019 · owns less than 5%
      • B••••••••• N•••••• L•••• · President Of The Boardcontrol
        since 10/2019 · owns less than 5%
      • B•••••••• M•••• · Member Of The Boardcontrol
        since 10/2019 · owns less than 5%
      • B••••••• R•••••• M•••• G••••••• · Vice-President Of The Boardcontrol
        since 10/2019 · owns less than 5%
      • B••••• M••••• M•••••• · Coocontrol
        since 01/2016 · owns less than 5%
      • C••••••• A••••• •••• · Member Of The Board, Ciocontrol
        since 10/2019 · owns 5% to 10%
      • D••••••••• E••••••• •••• · Chief Compliance Officercontrol
        since 01/2016 · owns less than 5%
      • D••••••••• A••••••••• P•••• R••• E•••••• · Member Of The Boardcontrol
        since 10/2019 · owns less than 5%
      • R••••••• A•••••• E••••• M•••••• · Member Of The Boardcontrol
        since 10/2019 · owns less than 5%
      • Z••••••• S••• · Member Of The Boardcontrol
        since 10/2019 · owns less than 5%
      Entity owners
      • B•••• G••••••• S••••• · Owner
        direct · owns 75% or more
      • A••••••••• G••••••• S••••• · Majority Owner
        indirect · owns 50% to 75% of B•••• G••••••• S•••••
      Related persons
      Schedule D 7.A
      • B•••• G••••••• S•••••
        y
      Offices
      Schedule D 1.F, the 25 largest
      • Chiasso, Switzerland3 employees
      • Locarno, Switzerland3 employees
      • Chiasso, Switzerland1 employees
      What changed
      consecutive filings, newest first
      • Related adviser · true to false
        Mar 21, 2019 to Nov 13, 2019
      • Accounts · 388 to 397
        Mar 28, 2018 to Mar 21, 2019
      • Charity clients · 5.0 to unset
        Mar 28, 2018 to Mar 21, 2019
      • Corporate clients · 14 to 12
        Mar 28, 2018 to Mar 21, 2019
      • HNW clients · 65 to 61
        Mar 28, 2018 to Mar 21, 2019
      • Individual clients · 75 to 92
        Mar 28, 2018 to Mar 21, 2019
      • Other offices · 3 to 4
        Mar 28, 2018 to Mar 21, 2019
      • Discretionary RAUM · $1.2B to $1.2B
        Mar 28, 2018 to Mar 21, 2019
      • HNW RAUM · $551M to $536M
        Mar 28, 2018 to Mar 21, 2019
      • Individual RAUM · $31.8M to $39.7M
        Mar 28, 2018 to Mar 21, 2019
      • Non-discretionary RAUM · $105M to $90.1M
        Mar 28, 2018 to Mar 21, 2019
      • RAUM · $1.3B to $1.3B
        Mar 28, 2018 to Mar 21, 2019
      • Accounts · 369 to 388
        Mar 24, 2017 to Mar 28, 2018
      • Advisory activities · 2 to 3
        Mar 24, 2017 to Mar 28, 2018
      • Charity clients · unset to 5.0
        Mar 24, 2017 to Mar 28, 2018
      • Corporate clients · unset to 14.0
        Mar 24, 2017 to Mar 28, 2018
      • HNW clients · unset to 65.0
        Mar 24, 2017 to Mar 28, 2018
      • Individual clients · unset to 75.0
        Mar 24, 2017 to Mar 28, 2018
      • Other offices · unset to 3.0
        Mar 24, 2017 to Mar 28, 2018
      • Discretionary RAUM · $1.0B to $1.2B
        Mar 24, 2017 to Mar 28, 2018
      • HNW RAUM · unset to 551415295.0
        Mar 24, 2017 to Mar 28, 2018
      • Individual RAUM · unset to 31770663.0
        Mar 24, 2017 to Mar 28, 2018
      • Non-discretionary RAUM · $96.0M to $105M
        Mar 24, 2017 to Mar 28, 2018
      • RAUM · $1.1B to $1.3B
        Mar 24, 2017 to Mar 28, 2018
      • Accounts · 345 to 369
        Oct 4, 2016 to Mar 24, 2017
      • Discretionary RAUM · $830M to $1.0B
        Oct 4, 2016 to Mar 24, 2017
      • Non-discretionary RAUM · $73.0M to $96.0M
        Oct 4, 2016 to Mar 24, 2017
      • RAUM · $903M to $1.1B
        Oct 4, 2016 to Mar 24, 2017
      Signals
      10 dated events
      • Alberto Silvio Giovannini (Cio) no longer on Schedule A of V••••• F••••••••• S• (listed 2019-03-21, absent 2019-11-13)
        Nov 13, 2019 · Control person left · inference
      • (Nmn) Dario Micheli (President Of The Board) no longer on Schedule A of V••••• F••••••••• S• (listed 2019-03-21, absent 2019-11-13)
        Nov 13, 2019 · Control person left · inference
      • M•••• G••••••• R••••• B•••••• (Vice-President Of The Board) appeared on Schedule A of V••••• F••••••••• S•
        Nov 13, 2019 · Control person joined · fact
      • L•••• N••••• B•••••••• (President Of The Board) appeared on Schedule A of V••••• F••••••••• S•
        Nov 13, 2019 · Control person joined · fact
      • M•••• B••••••• (Member Of The Board) appeared on Schedule A of V••••• F••••••••• S•
        Nov 13, 2019 · Control person joined · fact
      • P•••• R••• E•••••• A••••••••• D••••••••• (Member Of The Board) appeared on Schedule A of V••••• F••••••••• S•
        Nov 13, 2019 · Control person joined · fact
      • E••••• M•••••• A••••• R•••••• (Member Of The Board) appeared on Schedule A of V••••• F••••••••• S•
        Nov 13, 2019 · Control person joined · fact
      • S••• Z•••••• (Member Of The Board) appeared on Schedule A of V••••• F••••••••• S•
        Nov 13, 2019 · Control person joined · fact
      • L••• A•••• (General Manager) appeared on Schedule A of V••••• F••••••••• S•
        Nov 13, 2019 · Control person joined · fact
      • V••••• F••••••••• S• filed its initial SEC registration (Form ADV)
        Aug 31, 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.
      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