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.
SEC-registered adviser
Black Swift Group, LLC
Latest filing Jul 9, 2026
First filing on the tape Nov 22, 2016 · 43 filings
SEC status approved since Dec 21, 2016
RAUM
$694M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
86%
$596M individuals and HNW
Advisors
9
registered through the firm on IAPD
RAUM per advisor
$77.1M
derived; firm RAUM over IAPD count
Employees
9
2 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
reported on Schedule D
History
43 filings and snapshots on the tape
RAUM$694M as of Jul 9, 2026
Jan 31, 2017$217M then
HNW client RAUM$494M as of Jul 9, 2026
Mar 28, 2018$121M then
State-registered IARs (5.B.3)8 as of Jul 9, 2026
Jan 31, 20172 then
Employees (5.A)9 as of Jul 9, 2026
Jan 31, 20178 then
Private funds3 as of Jul 9, 2026
Jan 31, 20172 then
RAUM +24% over the last fiscal year+21% a year over threeIARs 8 to 8
Practice profile
derived from the filing of Jul 9, 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
- RIA with private funds · a wealth manager (private-client share at least 50 percent) that reports at least one private fund on Schedule D 7.B.(1)
- RAUM per advisor
- $77.1MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 42derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.3MderivedHNW RAUM over HNW clients
- Average account
- $1.7MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 1.7%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 9.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +24%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +11%derived
- Compensation
- percentage of assets, fixed fees, performance-basedreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehiclesreportedItem 5.G
- Custody
- $77.3M, 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$494M71%
- Individuals$103M15%
- Pooled investment vehicles$77.3M11%
- Charitable organizations$11.8M1.7%
- Corporations and businesses$8.6M1.2%
- Individual clients
- 232reported
- HNW clients
- 150reported
- Pension plan clients
- n/areported
- Charitable clients
- 12reported
- Accounts
- 406reported
- Financial planning clients
- 11-25reported
- Wrap fee programs
- noreported
- Custody of client assets
- $77.3M for 3 clientsreported
- Compensation
- % of AUM, fixed, performancereported
- Class basis
- private_client_share=0.86 fund_share=0.11 institutional_share=0.02 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
10 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Richard B Anderson | Boulder, Co | Jun 6, 2018 | 27 y | 0 |
| Tyler Shumway Hamilton | Boulder, Co | Feb 27, 2020 | 17 y | 0 |
| Timothy Joseph ShasserreChartered Financial Analyst | Boulder, Co | Jul 7, 2023 | 12 y | 0 |
| Justin Paul Montreuil | Boulder, Co | Jul 27, 2023 | 15 y | 2 |
| Gregory Joel CasalsChartered Financial Analyst | Boulder, Co | Dec 14, 2023 | 34 y | 2 |
| Donald Brendan Byrne | Boulder, Co | Jan 21, 2025 | 12 y | 1 |
| Adam Charles Vrablec | Boulder, Co | Jan 14, 2026 | 14 y | 1 |
| Ryan Hobbs Giles | Boulder, Co | Apr 28, 2026 | 16 y | 0 |
| Harold J Croley | Boulder, Co | Jun 19, 2026 | 10 y | 0 |
| Ashley Nicole Papa | Boulder, Co | Sep 16, 2026 | 14 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 headcount0 left over 36 months
Left, latest
- Samuel Slater Redman to Lotusgroup AdvisorsJul 20, 2022 · RIA to RIA
- Natasha Sophia Gunberg to Iwp Wealth Management LLCApr 8, 2022 · RIA to RIA
- Stephanie Charlene Bucko to Finwell, Inc.Jul 30, 2017 · Other
Joined, latest
- Ashley Nicole Papa from Digital Ascension Group - WealthSep 16, 2026 · Other
- Adam Charles Vrablec from Wells Fargo AdvisorsJan 14, 2026 · Wirehouse to independent RIA
- Gregory Joel Casals from Fortis Asset ManagementDec 14, 2023 · Other
- Justin Paul Montreuil from Newedge AdvisorsJul 27, 2023 · Affiliated broker-dealer or bank to independent RIA
- Natasha Sophia Gunberg from Personal Capital Advisors CorporationJul 2, 2019 · RIA to RIA
Private funds
6 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Pro Cyclist Institutional Fund, LP | Hedge Fund | $34.0M | 42 | Mar 31, 2022 |
| Black Swift Credit Opportunity Fund, LP | Hedge Fund | $33.5M | 29 | Jan 31, 2017 |
| Black Swift Healthier Focus Fund, LP | Hedge Fund | $21.8M | 38 | Jan 31, 2017 |
| Black Swift Special Situations Fund LP | Hedge Fund | $19.0M | 11 | Feb 2, 2018 |
| Pro Cyclist Fund, LP | Hedge Fund | $15.1M | 82 | Jul 6, 2020 |
| Black Swift Partners Fund, LP | Hedge Fund | $5.9M | 9 | May 10, 2019 |
Owners and control persons
Schedule A and B, latest filing
- Joel Gregory Casals · Managing Member, Ciocontrolsince 12/2016 · owns 75% or more
- Jo Linda Casals · Chief Compliance Officercontrolsince 01/2018 · owns 5% to 10%
Related persons
Schedule D 7.A
- Black Swift Partners, LLCpooled vehicle sponsorn
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Boulder, Co · principal | 9 | 4 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 371 to 406Aug 29, 2025 to Mar 30, 2026
- Advisory employees · 5 to 2Aug 29, 2025 to Mar 30, 2026
- Charity clients · 13 to 12Aug 29, 2025 to Mar 30, 2026
- HNW clients · 134 to 150Aug 29, 2025 to Mar 30, 2026
- Individual clients · 211 to 232Aug 29, 2025 to Mar 30, 2026
- Pooled vehicle clients · 4 to 3Aug 29, 2025 to Mar 30, 2026
- Assets in custody · $76.8M to $77.3MAug 29, 2025 to Mar 30, 2026
- Employees · 10 to 9Aug 29, 2025 to Mar 30, 2026
- Discretionary RAUM · $558M to $694MAug 29, 2025 to Mar 30, 2026
- HNW RAUM · $378M to $494MAug 29, 2025 to Mar 30, 2026
- Individual RAUM · $83.3M to $103MAug 29, 2025 to Mar 30, 2026
- Pooled vehicle RAUM · $76.8M to $77.3MAug 29, 2025 to Mar 30, 2026
- RAUM · $558M to $694MAug 29, 2025 to Mar 30, 2026
- Private funds · 4 to 3Apr 30, 2025 to Aug 29, 2025
- Accounts · 338 to 371Mar 27, 2024 to Apr 30, 2025
- Advisory employees · 4 to 5Mar 27, 2024 to Apr 30, 2025
- Advisory activities · 3 to 4Mar 27, 2024 to Apr 30, 2025
- Charity clients · 9 to 13Mar 27, 2024 to Apr 30, 2025
- Corporate clients · 13 to 9Mar 27, 2024 to Apr 30, 2025
- HNW clients · 127 to 134Mar 27, 2024 to Apr 30, 2025
- Individual clients · 184 to 211Mar 27, 2024 to Apr 30, 2025
- Pooled vehicle clients · 5 to 4Mar 27, 2024 to Apr 30, 2025
- Assets in custody · $95.7M to $76.8MMar 27, 2024 to Apr 30, 2025
- Employees · 12 to 10Mar 27, 2024 to Apr 30, 2025
- Financial planning clients · unset to 11-25Mar 27, 2024 to Apr 30, 2025
- State-registered IARs · 9 to 8Mar 27, 2024 to Apr 30, 2025
- Private funds · 5 to 4Mar 27, 2024 to Apr 30, 2025
- Discretionary RAUM · $468M to $558MMar 27, 2024 to Apr 30, 2025
- HNW RAUM · $290M to $378MMar 27, 2024 to Apr 30, 2025
- Individual RAUM · $63.3M to $83.3MMar 27, 2024 to Apr 30, 2025
- Pooled vehicle RAUM · $95.7M to $76.8MMar 27, 2024 to Apr 30, 2025
- RAUM · $468M to $558MMar 27, 2024 to Apr 30, 2025
- Accounts · 271 to 338Dec 14, 2023 to Mar 22, 2024
- Charity clients · 7 to 9Dec 14, 2023 to Mar 22, 2024
- Corporate clients · 8 to 13Dec 14, 2023 to Mar 22, 2024
- HNW clients · 89 to 127Dec 14, 2023 to Mar 22, 2024
- Individual clients · 161 to 184Dec 14, 2023 to Mar 22, 2024
- Pooled vehicle clients · 6 to 5Dec 14, 2023 to Mar 22, 2024
- Assets in custody · $129M to $95.7MDec 14, 2023 to Mar 22, 2024
- Employees · 10 to 12Dec 14, 2023 to Mar 22, 2024
Signals
5 dated events
- Justin Paul Montreuil no longer holds an investment adviser registration (last listed at Black Swift Group, Llc on the 2026-09-16 feed)Sep 16, 2026 · Advisor registration ended · derived
- Ashley Nicole Papa registered as an investment adviser representative at Black Swift Group, LlcSep 16, 2026 · Advisor registered · fact
- Samuel Slater Redman left Black Swift Group, Llc for Lotusgroup Advisors (registered 2024-06-21)Jul 20, 2022 · Advisor changed firm · fact
- Natasha Sophia Gunberg left Black Swift Group, Llc for Iwp Wealth Management Llc (registered 2023-09-21)Apr 8, 2022 · Advisor changed firm · fact
- Cbt Capital, Llc filed its initial SEC registration (Form ADV)Nov 22, 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
- 303-955-4381reportedpublished by the firm, firm site, Sep 17, 2026
- Firm profile
- linkedin.com/company/black-swift-groupreportedpublic record, Form ADV, Sep 17, 2026
- Website
- BLACKSWIFTGROUP.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 303-955-4381reportedpublic record, Form ADV, Jul 9, 2026
- Contact form
- blackswiftgroup.com/contact-usreportedpublished by the firm, firm site, Sep 17, 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
- $77.1Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026