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

S••••••• P••••••• E••••• A••••••• L••

Former SEC-registered adviserChicago, IllinoisCRD 287497SEC 801-110386IAPD
Latest filing Mar 29, 2023
First filing on the tape Apr 3, 2017 · 14 filings
RAUM
$88.9M
reported, Item 5.F
Discretionary
98%
of RAUM
Private clients
98%
$87.4M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
4
3 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
14 filings and snapshots on the tape
RAUM$88.9M as of Mar 29, 2023
Feb 28, 2018$18.7M then
HNW client RAUM$87.4M as of Mar 29, 2023
Feb 28, 2018$11.1M then
State-registered IARs (5.B.3)1 as of Mar 29, 2023
Feb 28, 20181 then
Employees (5.A)4 as of Mar 29, 2023
Feb 28, 20186 then
Private funds: no history
RAUM -24% over the last fiscal year+46% a year over threeIARs 1 to 1
Practice profile
derived from the filing of Mar 29, 2023; every figure names its basis
RAUM per advisor
$88.9MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.7MderivedHNW RAUM over HNW clients
Average account
$1.9MderivedRAUM over accounts (5.F.2.f)
Discretionary
98%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
4.0derivedItem 5.A over advisors
Advisors per office
0.5derived2 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
unknownderived
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)
  • an independent public accountant performs a surprise examination (9.C.1)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$87.4M100%
Individual clients
n/areported
HNW clients
32reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
48reported
Financial planning clients
n/areported
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
Every departureEvery arrival
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • B•••••• D••••••• L•• · LLC Managercontrol
    since 10/2019 · owns less than 5%
  • E•••••• J••••••• W•••••• · Chief Financial Officercontrol
    since 01/2017 · owns less than 5%
  • E••••••• M••••• A•••• · Chief Compliance Officer / General Counselcontrol
    since 01/2017 · owns less than 5%
  • H••••••••• R•••••• C••••••••• · LLC Managercontrol
    since 10/2019 · owns less than 5%
  • S••••••••• K••••• E••••• · Chief Investment Officercontrol
    since 01/2017 · owns 10% to 25%
  • T••••••• S•••••• M•••••• · LLC Managercontrol
    since 10/2019 · owns less than 5%
  • B•••••• D••••••• L•• · LLC Managercontrol
    since 10/2019 · owns F of S••••••• P••••••• I••••••••• G•••• L••
  • H••••••••• R•••••• C••••••••• · LLC Managercontrol
    since 10/2019 · owns F of S••••••• P••••••• I••••••••• G•••• L••
  • T••••••• S•••••• M•••••• · LLC Managercontrol
    since 10/2019 · owns F of S••••••• P••••••• I••••••••• G•••• L••
  • K•••••• T••••••• A••••• · Director Of Operations
    since 05/2021 · owns less than 5%
Entity owners
  • S••••••• P••••••• I••••••••• G•••• L•• · Member
    direct · owns 50% to 75%
Related persons
Schedule D 7.A
Advisers that list S••••••• P••••••• E••••• A••••••• L•• as a related person
Offices
Schedule D 1.F, the 25 largest
  • Baltimore, MD
What changed
consecutive filings, newest first
  • Advisory employees · 2 to 3
    Aug 29, 2022 to Mar 29, 2023
  • Assets in custody · 0.0 to unset
    Aug 29, 2022 to Mar 29, 2023
  • Employees · 6 to 4
    Aug 29, 2022 to Mar 29, 2023
  • Discretionary RAUM · $116M to $87.4M
    Aug 29, 2022 to Mar 29, 2023
  • HNW RAUM · $116M to $87.4M
    Aug 29, 2022 to Mar 29, 2023
  • Non-discretionary RAUM · $1.2M to $1.4M
    Aug 29, 2022 to Mar 29, 2023
  • RAUM · $117M to $88.9M
    Aug 29, 2022 to Mar 29, 2023
  • Advisory employees · 3 to 2
    Jan 4, 2022 to Mar 31, 2022
  • Employees · 7 to 6
    Jan 4, 2022 to Mar 31, 2022
  • Discretionary RAUM · $115M to $116M
    Jan 4, 2022 to Mar 31, 2022
  • HNW RAUM · $115M to $116M
    Jan 4, 2022 to Mar 31, 2022
  • Non-discretionary RAUM · $1.2M to $1.2M
    Jan 4, 2022 to Mar 31, 2022
  • RAUM · $116M to $117M
    Jan 4, 2022 to Mar 31, 2022
  • Accounts · 36 to 48
    Mar 30, 2021 to Jan 4, 2022
  • HNW clients · 22 to 32
    Mar 30, 2021 to Jan 4, 2022
  • Employees · 6 to 7
    Mar 30, 2021 to Jan 4, 2022
  • Discretionary RAUM · $85.4M to $115M
    Mar 30, 2021 to Jan 4, 2022
  • HNW RAUM · $85.4M to $115M
    Mar 30, 2021 to Jan 4, 2022
  • Non-discretionary RAUM · $0 to $1.2M
    Mar 30, 2021 to Jan 4, 2022
  • RAUM · $85.4M to $116M
    Mar 30, 2021 to Jan 4, 2022
  • Accounts · 33 to 36
    Jun 30, 2020 to Mar 30, 2021
  • HNW clients · 17 to 22
    Jun 30, 2020 to Mar 30, 2021
  • Discretionary RAUM · $25.9M to $85.4M
    Jun 30, 2020 to Mar 30, 2021
  • HNW RAUM · $26.0M to $85.4M
    Jun 30, 2020 to Mar 30, 2021
  • Non-discretionary RAUM · $2.9M to $0
    Jun 30, 2020 to Mar 30, 2021
  • RAUM · $28.8M to $85.4M
    Jun 30, 2020 to Mar 30, 2021
  • Accounts · 32 to 33
    Dec 2, 2019 to Mar 26, 2020
  • HNW clients · 16 to 17
    Dec 2, 2019 to Mar 26, 2020
  • Employees · 7 to 6
    Dec 2, 2019 to Mar 26, 2020
  • Discretionary RAUM · $22.7M to $25.9M
    Dec 2, 2019 to Mar 26, 2020
  • HNW RAUM · $21.0M to $26.0M
    Dec 2, 2019 to Mar 26, 2020
  • Non-discretionary RAUM · $1.1M to $2.9M
    Dec 2, 2019 to Mar 26, 2020
  • RAUM · $23.8M to $28.8M
    Dec 2, 2019 to Mar 26, 2020
  • Accounts · 22 to 32
    Nov 15, 2018 to Mar 27, 2019
  • HNW clients · 12 to 16
    Nov 15, 2018 to Mar 27, 2019
  • Employees · 5 to 7
    Nov 15, 2018 to Mar 27, 2019
  • Discretionary RAUM · $18.7M to $22.7M
    Nov 15, 2018 to Mar 27, 2019
  • HNW RAUM · $11.1M to $21.0M
    Nov 15, 2018 to Mar 27, 2019
  • Non-discretionary RAUM · $0 to $1.1M
    Nov 15, 2018 to Mar 27, 2019
  • RAUM · $18.7M to $23.8M
    Nov 15, 2018 to Mar 27, 2019
Signals
2 dated events
  • K•••• E••••• S•••••••• left S••••••• P••••••• E••••• A••••••• L•• for C••••• C•••••• P•••••••• L•• (registered 2023-09-06)
    Jun 13, 2023 · Advisor changed firm · fact
  • S••••••• P••••••• E••••• A••••••• L•• filed its initial SEC registration (Form ADV)
    Apr 3, 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