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Former SEC-registered adviser

S••••••• C•••••• L••

Former SEC-registered adviserPalo Alto, CaliforniaCRD 286253SEC 801-108946IAPD
Latest filing Mar 31, 2022
First filing on the tape Jan 6, 2017 · 13 filings
RAUM
$2.6B
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
12
6 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
1
$2.6B gross assets
History
13 filings and snapshots on the tape
RAUM$2.6B as of Mar 31, 2022
Mar 29, 2018$1.4B then
HNW client RAUM$0 as of Mar 31, 2022
Mar 29, 2018$0 then
State-registered IARs (5.B.3)0 as of Mar 31, 2022
Mar 29, 20180 then
Employees (5.A)12 as of Mar 31, 2022
Mar 29, 20188 then
Private funds1 as of Mar 31, 2022
Mar 29, 20181 then
RAUM -27% over the last fiscal year+15% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 31, 2022; 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
$862MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived3 offices incl. principal (1.F.5)
RAUM growth, one year
-27%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 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 vehiclesreportedItem 5.G
Custody
$2.2B, 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
  • Pooled investment vehicles$2.6B100%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
3reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
$2.2B for 3 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
      Every departureEvery arrival
      Private funds
      No private fund reported.
      Owners and control persons
      Schedule A and B, latest filing
      • C•••• W•••• •••• · Managing Membercontrol
        since 08/2016 · owns less than 5%
      • L••• C••••• •••• · Chief Compliance Officercontrol
        since 08/2019 · owns less than 5%
      • C•••• W•••• •••• · Sole Shareholdercontrol
        since 05/2018 · owns 75% or more of S••••••• I••••••••• M••••••••• I•••
      Entity owners
      • S••••••• I••••••••• M••••••••• I••• · Managing Member
        direct · owns 75% or more
      Related persons
      Schedule D 7.A
      No related person reported.
      Offices
      Schedule D 1.F, the 25 largest
      • Shanghai, China3 employees
      • Wan Chai, Hong Kong1 employees
      What changed
      consecutive filings, newest first
      • Assets in custody · $3.3B to $2.2B
        Mar 30, 2021 to Mar 31, 2022
      • Discretionary RAUM · $3.6B to $2.6B
        Mar 30, 2021 to Mar 31, 2022
      • Pooled vehicle RAUM · $3.6B to $2.6B
        Mar 30, 2021 to Mar 31, 2022
      • RAUM · $3.6B to $2.6B
        Mar 30, 2021 to Mar 31, 2022
      • Advisory employees · 5 to 6
        Mar 30, 2020 to Mar 30, 2021
      • Assets in custody · $2.8B to $3.3B
        Mar 30, 2020 to Mar 30, 2021
      • Employees · 11 to 12
        Mar 30, 2020 to Mar 30, 2021
      • Other offices · 0 to 2
        Mar 30, 2020 to Mar 30, 2021
      • Discretionary RAUM · $2.9B to $3.6B
        Mar 30, 2020 to Mar 30, 2021
      • Pooled vehicle RAUM · $2.9B to $3.6B
        Mar 30, 2020 to Mar 30, 2021
      • RAUM · $2.9B to $3.6B
        Mar 30, 2020 to Mar 30, 2021
      • Assets in custody · $2.2B to $2.8B
        Sep 3, 2019 to Mar 30, 2020
      • Discretionary RAUM · $2.3B to $2.9B
        Sep 3, 2019 to Mar 30, 2020
      • Pooled vehicle RAUM · $2.3B to $2.9B
        Sep 3, 2019 to Mar 30, 2020
      • RAUM · $2.3B to $2.9B
        Sep 3, 2019 to Mar 30, 2020
      • Advisory employees · 6 to 5
        May 13, 2019 to Sep 3, 2019
      • Assets in custody · $1.6B to $2.2B
        May 13, 2019 to Sep 3, 2019
      • Discretionary RAUM · $1.7B to $2.3B
        May 13, 2019 to Sep 3, 2019
      • Pooled vehicle RAUM · $1.7B to $2.3B
        May 13, 2019 to Sep 3, 2019
      • RAUM · $1.7B to $2.3B
        May 13, 2019 to Sep 3, 2019
      • Related adviser · true to false
        May 13, 2019 to Sep 3, 2019
      • Advisory employees · 5 to 6
        May 15, 2018 to Mar 29, 2019
      • Assets in custody · $1.4B to $1.6B
        May 15, 2018 to Mar 29, 2019
      • Employees · 8 to 11
        May 15, 2018 to Mar 29, 2019
      • Discretionary RAUM · $1.5B to $1.7B
        May 15, 2018 to Mar 29, 2019
      • Pooled vehicle RAUM · $1.5B to $1.7B
        May 15, 2018 to Mar 29, 2019
      • RAUM · $1.5B to $1.7B
        May 15, 2018 to Mar 29, 2019
      • Discretionary RAUM · $1.4B to $1.5B
        Mar 29, 2018 to May 9, 2018
      • Pooled vehicle RAUM · $1.4B to $1.5B
        Mar 29, 2018 to May 9, 2018
      • RAUM · $1.4B to $1.5B
        Mar 29, 2018 to May 9, 2018
      • Charity clients · unset to 0.0
        Sep 5, 2017 to Mar 29, 2018
      • Corporate clients · unset to 0.0
        Sep 5, 2017 to Mar 29, 2018
      • HNW clients · unset to 0.0
        Sep 5, 2017 to Mar 29, 2018
      • Individual clients · unset to 0.0
        Sep 5, 2017 to Mar 29, 2018
      • Pension plan clients · unset to 0.0
        Sep 5, 2017 to Mar 29, 2018
      • Pooled vehicle clients · unset to 3.0
        Sep 5, 2017 to Mar 29, 2018
      • Assets in custody · $1.0B to $1.4B
        Sep 5, 2017 to Mar 29, 2018
      • Other offices · unset to 0.0
        Sep 5, 2017 to Mar 29, 2018
      • Discretionary RAUM · $1.1B to $1.4B
        Sep 5, 2017 to Mar 29, 2018
      • HNW RAUM · unset to 0.0
        Sep 5, 2017 to Mar 29, 2018
      Signals
      7 dated events
      • S••••••• C•••••• L•• reported RAUM $2.6B, down 27% from $3.6B (2021-03-30 to 2022-03-31)
        Mar 31, 2022 · RAUM change · derived
      • S••••••• C•••••• L•• reported RAUM $2.9B, up 29% from $2.3B (2019-09-03 to 2020-03-30)
        Mar 30, 2020 · RAUM change · derived
      • S••••••• C•••••• L•• reported RAUM $2.3B, up 31% from $1.7B (2019-05-13 to 2019-09-03)
        Sep 3, 2019 · RAUM change · derived
      • (Nmn) Peishan Xiao (Chief Compliance Officer) no longer on Schedule A of S••••••• C•••••• L•• (listed 2019-05-13, absent 2019-09-03)
        Sep 3, 2019 · Control person left · inference
      • (Nmn) Chuan Liu (Chief Compliance Officer) appeared on Schedule A of S••••••• C•••••• L••
        Sep 3, 2019 · Control person joined · fact
      • S••••••• C•••••• L•• reported RAUM $1.4B, up 34% from $1.1B (2017-09-05 to 2018-03-29)
        Mar 29, 2018 · RAUM change · derived
      • S••••••• C•••••• L•• filed its initial SEC registration (Form ADV)
        Jan 6, 2017 · 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