DFX Intelligence

RIA Intelligence

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SEC-registered adviser

B•••••••• F•••••••• A••••••• G••••• L••

Independent wealth managerThe Villages, FloridaCRD 291380SEC 801-112486website IAPD

Legal name B••••••••• F•••••••• A••••••• G••••• L••

Latest filing Mar 31, 2026

First filing on the tape Jan 22, 2018 · 48 filings

SEC status approved since Feb 22, 2018

RAUM

$333M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

100%

$332M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$55.5M

derived; firm RAUM over IAPD count

Employees

7 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

48 filings and snapshots on the tape

RAUM$333M as of Mar 31, 2026

Feb 21, 2019$115M then

HNW client RAUM$118M as of Mar 31, 2026

Feb 21, 2019$33.0M then

State-registered IARs (5.B.3)7 as of Mar 31, 2026

Feb 21, 20194 then

Employees (5.A)17 as of Mar 31, 2026

Feb 21, 20194 then

Private funds: no history

RAUM +11% over the last fiscal year+17% a year over threeIARs 8 to 7

Practice profile

derived from the filing of Mar 31, 2026; every figure names its basis

Archetypes, each a printed rule

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
Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM

RAUM per advisor: $55.5MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 157derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $1.9MderivedHNW RAUM over HNW clients
Average account: $181,641derivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 0.1%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 2.8derivedItem 5.A over advisors
Advisors per office: 3.0derived2 offices incl. principal (1.F.5)
RAUM growth, one year: +11%derivedbetween the last two annual amendments
Advisor growth, one year: -13%derivedItem 5.B.3 between annual amendments
Client growth, one year: -7.0%derived
Compensation: percentage of assetsreportedItem 5.E
Advisory activities: financial planning, portfolio management for individuals, selection of other advisersreportedItem 5.G
Financial planning clients: 1,000reportedItem 5.H
Custody: $167M, 999 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)
receives research or other products from a broker-dealer, soft dollars (8.E)
has custody of client cash or bank accounts (9.A.1.a)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Individuals$214M64%
High-net-worth individuals$118M35%
Pension and profit-sharing plans$338,9840.1%
Corporations and businesses$29,7680.0%

Individual clients: 877reported
HNW clients: 63reported
Pension plan clients: 6reported
Charitable clients: 0reported
Accounts: 1,832reported
Financial planning clients: 1,000reported
Wrap fee programs: noreported
Custody of client assets: $167M for 999 clientsreported
Compensation: % of AUMreported
Class basis: private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived

Advisors registered through the firm

6 on IAPD today, longest tenure first

Name	Branch	Here since	In industry	Prior firms
D•••• S• B••••••••	The Villages, Fl	Apr 9, 2018	23 y	2
T••••• L•• B•••••	The Villages, Fl	Aug 13, 2018	29 y	1
R•••••• K••• B••••••••	The Villages, Fl	Oct 26, 2021	10 y	0
S••••••• C•••••••• S••••••••	The Villages, Fl	Mar 20, 2023	12 y	0
M•••• L•• S•••••	The Villages, Fl	Jul 16, 2024	12 y	0
A•••• S•• H•••••••	The Villages, Fl	Jul 31, 2024	17 y	4

Advisor movement

0 left, 0 joined in 12 months

net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months

Left, latest

B•••••• B••• to F•••••••••
Jul 29, 2022 · RIA to RIA
W•••••• A••••• B•••••••• to S•••• M••••• F•••••••• • E••••• P••••••• S•••••••• L••
Aug 28, 2019 · RIA to RIA

Joined, latest

A•••• S•• H••••••• from T••••• A••••••• S•••••••• I•••
Jul 31, 2024 · Affiliated broker-dealer or bank to independent RIA
B•••••• B••• from B••••••••• C•••••• M••••••••• L••
Jun 12, 2019 · RIA to RIA
T••••• L•• B••••• from R•••• F••• M••••••••• L••
Aug 13, 2018 · RIA to RIA
D•••• S• B•••••••• from R•••• F••• M••••••••• L••
Apr 9, 2018 · RIA to a newly registered adviser
W•••••• A••••• B•••••••• from R•••• F••• M••••••••• L••
Apr 6, 2018 · RIA to a newly registered adviser

Every departure Every arrival

Teams: two or more advisors moving together within fourteen days, from one state

3 joined from R•••• F••• M••••••••• L••
Dec 31, 2018 · The Villages, Fl

Teams out Teams in

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

B••••••••• A•••••• E•••• · Membercontrol
since 07/2012 · owns 10% to 25%
B••••••••• D••••• S• · Membercontrol
since 07/2012 · owns 50% to 75%
B••••••••• R••••••• K••• · Chief Operating Officercontrol
since 07/2012 · owns 10% to 25%
K•••••• T•••••• D••••• · Chief Compliance Officer
since 08/2024 · owns less than 5%

Related persons

Schedule D 7.A

No related person reported.

Office movement

IAPD branch city; joins and departures in 12 months

Office	Advisors	Joined	Left	Teams out	Forming
The Villages, Fl · principal	6	0	0

Offices

Schedule D 1.F, the 25 largest

Clermont, FL2 employees
Mount Dora, FL2 employees

ADV anomalies

3 against comparable advisers; where to look, not conclusions

discretionary share shiftChange between filings · filing Mar 31, 2026
discretionary share of RAUM moved from 85.0% to 100.0% between the annual amendments of 2025-03-24 and 2026-03-31
peers: independent wealth managers, $100M to $500M (5,678)
account count collapseChange between filings · filing Mar 31, 2026
accounts (Item 5.F.2.f) moved from 2,987.0 to 1,832.0 (-39.0%) between the annual amendments of 2025-03-24 and 2026-03-31; the peer median change was +5.0% (3685 comparable advisers, 4.0th percentile of changes)
peers: independent wealth managers, $100M to $500M (3,685) · 4.0% percentile
HNW share shiftChange between filings · filing Mar 31, 2026
HNW share of RAUM moved from 8.0% to 35.0% between the annual amendments of 2025-03-24 and 2026-03-31
peers: independent wealth managers, $100M to $500M (5,678)

How anomalies are measured

What changed

consecutive filings, newest first

Accounts · 2,987 to 1,832
Mar 24, 2025 to Mar 31, 2026
Advisory employees · 8 to 7
Mar 24, 2025 to Mar 31, 2026
Charity clients · 1 to 0
Mar 24, 2025 to Mar 31, 2026
Corporate clients · 0 to 1
Mar 24, 2025 to Mar 31, 2026
HNW clients · 80 to 63
Mar 24, 2025 to Mar 31, 2026
Individual clients · 931 to 877
Mar 24, 2025 to Mar 31, 2026
Pension plan clients · 0 to 6
Mar 24, 2025 to Mar 31, 2026
Assets in custody · $125M to $167M
Mar 24, 2025 to Mar 31, 2026
State-registered IARs · 8 to 7
Mar 24, 2025 to Mar 31, 2026
Discretionary RAUM · $255M to $333M
Mar 24, 2025 to Mar 31, 2026
HNW RAUM · $23.9M to $118M
Mar 24, 2025 to Mar 31, 2026
Individual RAUM · $276M to $214M
Mar 24, 2025 to Mar 31, 2026
Non-discretionary RAUM · $45.8M to $0
Mar 24, 2025 to Mar 31, 2026
Pension RAUM · $0 to $338,984
Mar 24, 2025 to Mar 31, 2026
RAUM · $301M to $333M
Mar 24, 2025 to Mar 31, 2026
Accounts · 2,040 to 2,987
Jan 22, 2025 to Mar 24, 2025
Advisory employees · 4 to 8
Jan 22, 2025 to Mar 24, 2025
HNW clients · 42 to 80
Jan 22, 2025 to Mar 24, 2025
Individual clients · 1,151 to 931
Jan 22, 2025 to Mar 24, 2025
Assets in custody · $252M to $125M
Jan 22, 2025 to Mar 24, 2025
Financial planning clients · More than 500 to More than 500
Jan 22, 2025 to Mar 24, 2025
State-registered IARs · 4 to 8
Jan 22, 2025 to Mar 24, 2025
Other offices · 2 to 1
Jan 22, 2025 to Mar 24, 2025
Discretionary RAUM · $191M to $255M
Jan 22, 2025 to Mar 24, 2025
HNW RAUM · $64.9M to $23.9M
Jan 22, 2025 to Mar 24, 2025
Individual RAUM · $187M to $276M
Jan 22, 2025 to Mar 24, 2025
Non-discretionary RAUM · $61.7M to $45.8M
Jan 22, 2025 to Mar 24, 2025
RAUM · $252M to $301M
Jan 22, 2025 to Mar 24, 2025
Accounts · 1,193 to 2,040
Feb 2, 2024 to Mar 21, 2024
Advisory employees · 5 to 4
Feb 2, 2024 to Mar 21, 2024
Charity clients · 0 to 1
Feb 2, 2024 to Mar 21, 2024
Assets in custody · unset to 252000000.0
Feb 2, 2024 to Mar 21, 2024
Custody of client assets · false to true
Feb 2, 2024 to Mar 21, 2024
Employees · 13 to 17
Feb 2, 2024 to Mar 21, 2024
State-registered IARs · 5 to 4
Feb 2, 2024 to Mar 21, 2024
Discretionary RAUM · $161M to $191M
Feb 2, 2024 to Mar 21, 2024
HNW RAUM · $49.3M to $64.9M
Feb 2, 2024 to Mar 21, 2024
Individual RAUM · $158M to $187M
Feb 2, 2024 to Mar 21, 2024
Non-discretionary RAUM · $46.3M to $61.7M
Feb 2, 2024 to Mar 21, 2024
RAUM · $207M to $252M
Feb 2, 2024 to Mar 21, 2024

Signals

4 dated events

Phillip Joseph Arce (Chief Compliance Officer) appeared on Schedule A of B•••••••• F•••••••• A••••••• G••••• L••
Feb 2, 2024 · Control person joined · fact
B•••••• B••• left B•••••••• F•••••••• A••••••• G••••• L•• for Familywealth (registered 2022-09-26)
Jul 29, 2022 · Advisor changed firm · fact
Andrew William B•••••••• (Member) no longer on Schedule A of B•••••••• F•••••••• A••••••• G••••• L•• (listed 2020-03-09, absent 2020-03-27)
Mar 27, 2020 · Control person left · inference
B•••••••• F•••••••• A••••••• G••••• L•• filed its initial SEC registration (Form ADV)
Jan 22, 2018 · 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: 352-633-9046reportedpublished by the firm, firm site, Sep 17, 2026
Website: B••••••••FINANCIALGROUP.COMreportedpublic record, Form ADV, Sep 21, 2026
Principal office phone: 352-633-9046reportedpublic 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: Independent wealth managerderiveda rule over Items 5.D and 7.A
RAUM per advisor: $55.5Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026