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

C••••••• C•••••• A••••••• L••

Asset manager (funds and pooled vehicles)Dallas, TexasCRD 290191SEC 801-112369IAPD
Latest filing Mar 31, 2026
First filing on the tape Dec 26, 2017 · 22 filings
SEC status approved since Jan 25, 2018
RAUM
$228M
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
2
2 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
2
reported on Schedule D
History
22 filings and snapshots on the tape
RAUM$228M as of Mar 31, 2026
Mar 29, 2019$182M then
HNW client RAUM$0 as of Mar 31, 2026
Mar 29, 2019$0 then
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 29, 20190 then
Employees (5.A)2 as of Mar 31, 2026
Mar 29, 201911 then
Private funds2 as of Mar 31, 2026
Mar 29, 20191 then
RAUM -53% over the last fiscal year-15% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 31, 2026; 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
$114MderivedRAUM 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
unknownderived2 offices incl. principal (1.F.5)
RAUM growth, one year
-53%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, fixed fees, performance-basedreportedItem 5.E
Advisory activities
portfolio management for pooled vehiclesreportedItem 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)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$228M100%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
2reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, performancereported
Class basis
private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
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
      Private funds
      8 reported on Schedule D 7.B.(1)
      Owners and control persons
      Schedule A and B, latest filing
      • D••••• A••••••••• N••••••• · Managing Partnercontrol
        since 06/2017 · owns less than 5%
      • P••••• J••••••• L•• · Chief Compliance Officer And Director Of Operationscontrol
        since 10/2023 · owns less than 5%
      • R••••••• R••••••• L•••• · Chief Financial Officercontrol
        since 10/2023 · owns less than 5%
      • T•••••• J•••••••• A••••• · Managing Partner And Chief Investment Officercontrol
        since 06/2017 · owns less than 5%
      • D••••• A••••••••• N••••••• · Managing Partnercontrol
        since 11/2017 · owns 50% to 75% of R••• H••••••• L••
      • T•••••• J•••••••• A••••• · Managing Partner And Chief Compliance Officercontrol
        since 11/2017 · owns 50% to 75% of R••• H••••••• L••
      Entity owners
      • P••• C••••• A•••• M••••••••• L•• · Managing Member
        direct · owns 75% or more
      • R••• H••••••• L•• · Managing Member
        indirect · owns 75% or more of P••• C••••• A•••• M••••••••• L••
      Related persons
      Schedule D 7.A
      • P••• C••••• A•••• M••••••••• L••
        pooled vehicle sponsory
      • P••• C••••• E••••• P••••••• I•• G• L••
        pooled vehicle sponsorn
      • P••• C••••• E••••• P••••••• V• G• L••
        pooled vehicle sponsorn
      • P••• C••••• L•••••• C•••
        n
      Offices
      Schedule D 1.F, the 25 largest
      • , 1 employees
      ADV anomalies
      2 against comparable advisers; where to look, not conclusions
      • employee count dropChange between filings · filing Mar 31, 2026
        employees (Item 5.A) moved from 12.0 to 2.0 (-83.0%) between the annual amendments of 2025-03-28 and 2026-03-31; the peer median change was 0.0% (393 comparable advisers, 1.0th percentile of changes)
        peers: asset managers, $100M to $500M (393) · 0.5% percentile
      • RAUM down 50 %Change between filings · filing Mar 31, 2026
        RAUM (Item 5.F) moved from $484,400,871 to $228,121,767 (-53.0%) between the annual amendments of 2025-03-28 and 2026-03-31; the peer median change was +4.0% (1148 comparable advisers, 3.0th percentile of changes)
        peers: asset managers, $100M to $500M (1,148) · 2.8% percentile
      What changed
      consecutive filings, newest first
      • Discretionary RAUM · $177M to $228M
        Nov 11, 2025 to Mar 31, 2026
      • Pooled vehicle RAUM · $177M to $228M
        Nov 11, 2025 to Mar 31, 2026
      • RAUM · $177M to $228M
        Nov 11, 2025 to Mar 31, 2026
      • Accounts · 5 to 2
        Mar 28, 2025 to Nov 11, 2025
      • Advisory employees · 7 to 2
        Mar 28, 2025 to Nov 11, 2025
      • Business name · P••• C••••• A••••••• L•• to C••••••• C•••••• A••••••• L••
        Mar 28, 2025 to Nov 11, 2025
      • Pooled vehicle clients · 5 to 2
        Mar 28, 2025 to Nov 11, 2025
      • Employees · 12 to 2
        Mar 28, 2025 to Nov 11, 2025
      • Legal name · P••• C••••• A••••••• L•• to C••••••• C•••••• A••••••• L••
        Mar 28, 2025 to Nov 11, 2025
      • Private funds · 5 to 2
        Mar 28, 2025 to Nov 11, 2025
      • Discretionary RAUM · $484M to $177M
        Mar 28, 2025 to Nov 11, 2025
      • Pooled vehicle RAUM · $484M to $177M
        Mar 28, 2025 to Nov 11, 2025
      • RAUM · $484M to $177M
        Mar 28, 2025 to Nov 11, 2025
      • Accounts · 4 to 5
        Jun 17, 2024 to Mar 28, 2025
      • Pooled vehicle clients · 4 to 5
        Jun 17, 2024 to Mar 28, 2025
      • Financial planning clients · unset to
        Jun 17, 2024 to Mar 28, 2025
      • Private funds · 4 to 5
        Jun 17, 2024 to Mar 28, 2025
      • Discretionary RAUM · $398M to $484M
        Jun 17, 2024 to Mar 28, 2025
      • Pooled vehicle RAUM · $398M to $484M
        Jun 17, 2024 to Mar 28, 2025
      • RAUM · $398M to $484M
        Jun 17, 2024 to Mar 28, 2025
      • Advisory employees · 6 to 7
        Nov 6, 2023 to Mar 29, 2024
      • Other offices · 0 to 1
        Nov 6, 2023 to Mar 29, 2024
      • Discretionary RAUM · $373M to $398M
        Nov 6, 2023 to Mar 29, 2024
      • Pooled vehicle RAUM · $373M to $398M
        Nov 6, 2023 to Mar 29, 2024
      • RAUM · $373M to $398M
        Nov 6, 2023 to Mar 29, 2024
      • Advisory employees · 5 to 6
        Jun 22, 2022 to Mar 31, 2023
      • Employees · 9 to 12
        Jun 22, 2022 to Mar 31, 2023
      • Discretionary RAUM · $393M to $373M
        Jun 22, 2022 to Mar 31, 2023
      • Pooled vehicle RAUM · $393M to $373M
        Jun 22, 2022 to Mar 31, 2023
      • RAUM · $393M to $373M
        Jun 22, 2022 to Mar 31, 2023
      • Advisory employees · 4 to 5
        Mar 31, 2021 to Mar 31, 2022
      • Discretionary RAUM · $236M to $393M
        Mar 31, 2021 to Mar 31, 2022
      • Pooled vehicle RAUM · $236M to $393M
        Mar 31, 2021 to Mar 31, 2022
      • RAUM · $236M to $393M
        Mar 31, 2021 to Mar 31, 2022
      • Accounts · 3 to 4
        Jun 18, 2020 to Mar 31, 2021
      • Advisory employees · 5 to 4
        Jun 18, 2020 to Mar 31, 2021
      • Pooled vehicle clients · 3 to 4
        Jun 18, 2020 to Mar 31, 2021
      • Employees · 10 to 9
        Jun 18, 2020 to Mar 31, 2021
      • Private funds · 3 to 4
        Jun 18, 2020 to Mar 31, 2021
      • Discretionary RAUM · $176M to $236M
        Jun 18, 2020 to Mar 31, 2021
      Signals
      8 dated events
      • C••••••• C•••••• A••••••• L•• reported RAUM $176.5M, down 64% from $484.4M (2025-03-28 to 2025-11-11)
        Nov 11, 2025 · RAUM change · derived
      • Christopher Adam Rice (Chief Financial Officer) no longer on Schedule A of C••••••• C•••••• A••••••• L•• (listed 2023-08-30, absent 2023-11-06)
        Nov 6, 2023 · Control person left · inference
      • J•••••• Perno (Chief Compliance Officer And Director Of Operations) appeared on Schedule A of C••••••• C•••••• A••••••• L••
        Nov 6, 2023 · Control person joined · fact
      • L•••• R•••••• R•••••• (Chief Financial Officer) appeared on Schedule A of C••••••• C•••••• A••••••• L••
        Nov 6, 2023 · Control person joined · fact
      • Diane Kimberly Ricks (Director Of Compliance (Cco)) no longer on Schedule A of C••••••• C•••••• A••••••• L•• (listed 2021-03-31, absent 2022-03-31)
        Mar 31, 2022 · Control person left · inference
      • C••••••• C•••••• A••••••• L•• reported RAUM $393.5M, up 66% from $236.5M (2021-03-31 to 2022-03-31)
        Mar 31, 2022 · RAUM change · derived
      • Christopher Adam Rice (Chief Financial Officer) appeared on Schedule A of C••••••• C•••••• A••••••• L••
        Jan 27, 2020 · Control person joined · fact
      • R••••••• A•••• M••••••••• L•• filed its initial SEC registration (Form ADV)
        Dec 26, 2017 · First SEC registration · fact
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Principal office phone
      469-249-1000reportedpublic record, Form ADV, Mar 31, 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
      Asset manager (funds and pooled vehicles)deriveda 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