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

Alden Capital

Independent wealth managerWayne, PennsylvaniaCRD 293551SEC 801-116941websiteIAPD
Legal name Alden Capital Management Inc.
Latest filing Sep 2, 2026
First filing on the tape Mar 1, 2018 · 65 filings
SEC status approved since Jul 9, 2019
RAUM
$1.5B
reported, Item 5.F
Discretionary
54%
of RAUM
Private clients
53%
$808M individuals and HNW
Advisors
20
registered through the firm on IAPD
RAUM per advisor
$75.8M
derived; firm RAUM over IAPD count
Employees
23
19 advisory (5.B.1)
Offices
3
beyond the principal office
Private funds
0
reported on Schedule D
History
65 filings and snapshots on the tape
RAUM$1.5B as of Jul 1, 2026
Mar 12, 2020$268M then
HNW client RAUM$59.0M as of Jul 1, 2026
Mar 12, 2020$113M then
State-registered IARs (5.B.3)0 as of Jul 1, 2026
Mar 12, 20208 then
Employees (5.A)23 as of Jul 1, 2026
Mar 12, 202010 then
Private funds1 as of Jul 1, 2026
Mar 12, 20201 then
RAUM +4.9% over the last fiscal year+36% a year over threeIARs 0 to 0offices 4 to 3
Practice profile
derived from the filing of Sep 2, 2026; every figure names its basis
Archetypes, each a printed rule
  • Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
RAUM per advisor
$75.8MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
125derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$322,178derivedHNW RAUM over HNW clients
Average account
$593,897derivedRAUM over accounts (5.F.2.f)
Discretionary
54%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.1derivedItem 5.A over advisors
Advisors per office
5.0derived4 offices incl. principal (1.F.5)
RAUM growth, one year
+4.9%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
-19%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisers, otherreportedItem 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
  • Individuals$749M91%
  • High-net-worth individuals$59.0M7.2%
  • Pooled investment vehicles$15.8M1.9%
Individual clients
2,321reported
HNW clients
183reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
2,551reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixedreported
Class basis
private_client_share=0.53 fund_share=0.01 institutional_share=0.0 related_bd=true related_bank=false bd_reps=19.0derived
Advisors registered through the firm
17 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
John Francis MulqueenWayne, Pa May 23, 201814 y2
John ColucciWayne, Pa Jul 16, 201819 y1
Lee Albert CalfoSan Juan, Pr Aug 20, 201822 y4
Anthony Vekony MccrackenCertified Financial PlannerWayne, PaNov 14, 201815 y0
Christopher John ColoracciDoylestown, Pa Dec 6, 201929 y3
Frederick Charles PetersWayne, PaJan 24, 202012 y1
Robert Edward FishWayne, Pa May 1, 202037 y4
Richard Shant ChebookjianWayne, Pa May 2, 202013 y2
James Nendel PeppermanWest Chester, Pa Jun 4, 202032 y4
William Jude AtkinsWayne, Pa Nov 10, 202114 y3
Paul Joseph LafountainWayne, PaJul 14, 202219 y0
Karen M. Van HornSan Juan, Pr Nov 11, 202227 y5
Aaron Lee WilliamsWayne, Pa Jan 3, 202310 y2
Matthew Thomas ReschChartered Financial AnalystWayne, PaJun 24, 202427 y0
J Pierce DeverChartered Financial AnalystLancaster, Pa Aug 20, 202413 y0
Robert Emmett BurnsWayne, Pa Jan 10, 202520 y0
Craig M WienerWayne, Pa Mar 7, 202540 y4
Advisor movement
4 left, 0 joined in 12 months
net -4 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 20% of current headcount5 left over 36 months
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
Teams outTeams in
Private funds
1 reported on Schedule D 7.B.(1)
FundTypeGross assetsOwnersFirst reported
Community Financial Institutions FundHedge Fund$15.8M73Mar 24, 2015
Owners and control persons
Schedule A and B, latest filing
  • Albert Lee Calfo · Chief Executive Officercontrol
    since 02/2018 · owns less than 5%
  • Francis John Mulqueen · Chief Operating Officercontrol
    since 11/2018 · owns less than 5%
  • Albert Lee Calfo · Chief Executive Officercontrol
    since 02/2018 · owns 50% to 75% of Alden Partners LLC
  • Richard Kenneth Smith · Chief Compliance Officer
    since 02/2018 · owns less than 5%
  • M. Karen Van Horn · Chief Compliance Officer
    since 01/2025 · owns less than 5%
  • Lee Aaron Williams · Managing Director
    since 03/2024 · owns less than 5%
Entity owners
  • Alden Partners LLC · Owner
    direct · owns 75% or more
Related persons
Schedule D 7.A
Advisers that list Alden Capital as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Wayne, Pa · principal2022
West Chester, Pa300
Memphis, Tn200
Collegeville, Pa0021
Offices
Schedule D 1.F, the 25 largest
  • Doylestown, PA5 employees
  • Malvern, PA3 employees
  • Collegeville, PA3 employees
  • Alhambra, CA2 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
  • HNW share shiftChange between filings · filing Mar 26, 2026
    HNW share of RAUM moved from 32.0% to 4.0% between the annual amendments of 2025-03-26 and 2026-03-26
    peers: independent wealth managers, $1B to $5B (1,360)
How anomalies are measured
What changed
consecutive filings, newest first
  • Financial planning clients · to unset
    Jul 1, 2026 to Sep 2, 2026
  • Private funds · 1 to unset
    Jul 1, 2026 to Sep 2, 2026
  • Succession · false to unset
    Jul 1, 2026 to Sep 2, 2026
  • Accounts · 3,147 to 2,551
    Dec 6, 2025 to Mar 26, 2026
  • Advisory employees · 20 to 19
    Dec 6, 2025 to Mar 26, 2026
  • BD registered reps · 14 to 19
    Dec 6, 2025 to Mar 26, 2026
  • HNW clients · 225 to 183
    Dec 6, 2025 to Mar 26, 2026
  • Individual clients · 2,874 to 2,321
    Dec 6, 2025 to Mar 26, 2026
  • Employees · 24 to 23
    Dec 6, 2025 to Mar 26, 2026
  • Other offices · 4 to 3
    Dec 6, 2025 to Mar 26, 2026
  • Discretionary RAUM · $934M to $823M
    Dec 6, 2025 to Mar 26, 2026
  • HNW RAUM · $465M to $59.0M
    Dec 6, 2025 to Mar 26, 2026
  • Individual RAUM · $450M to $749M
    Dec 6, 2025 to Mar 26, 2026
  • Non-discretionary RAUM · $510M to $692M
    Dec 6, 2025 to Mar 26, 2026
  • Pooled vehicle RAUM · $18.0M to $15.8M
    Dec 6, 2025 to Mar 26, 2026
  • RAUM · $1.4B to $1.5B
    Dec 6, 2025 to Mar 26, 2026
  • Financial planning clients · unset to
    Mar 26, 2025 to Jun 18, 2025
  • Accounts · 926 to 3,147
    Jan 22, 2025 to Mar 26, 2025
  • Advisory employees · 14 to 20
    Jan 22, 2025 to Mar 26, 2025
  • BD registered reps · 17 to 14
    Jan 22, 2025 to Mar 26, 2025
  • HNW clients · 282 to 225
    Jan 22, 2025 to Mar 26, 2025
  • Individual clients · 601 to 2,874
    Jan 22, 2025 to Mar 26, 2025
  • Employees · 19 to 24
    Jan 22, 2025 to Mar 26, 2025
  • Discretionary RAUM · $305M to $934M
    Jan 22, 2025 to Mar 26, 2025
  • HNW RAUM · $73.0M to $465M
    Jan 22, 2025 to Mar 26, 2025
  • Individual RAUM · $207M to $450M
    Jan 22, 2025 to Mar 26, 2025
  • Non-discretionary RAUM · $352M to $510M
    Jan 22, 2025 to Mar 26, 2025
  • Pooled vehicle RAUM · $27.4M to $18.0M
    Jan 22, 2025 to Mar 26, 2025
  • RAUM · $657M to $1.4B
    Jan 22, 2025 to Mar 26, 2025
  • Accounts · 761 to 926
    Mar 1, 2024 to Mar 19, 2024
  • Advisory employees · 15 to 14
    Mar 1, 2024 to Mar 19, 2024
  • HNW clients · 12 to 282
    Mar 1, 2024 to Mar 19, 2024
  • Individual clients · 712 to 601
    Mar 1, 2024 to Mar 19, 2024
  • Employees · 20 to 19
    Mar 1, 2024 to Mar 19, 2024
  • State-registered IARs · 1 to 0
    Mar 1, 2024 to Mar 19, 2024
  • Discretionary RAUM · $387M to $305M
    Mar 1, 2024 to Mar 19, 2024
  • HNW RAUM · $7.2M to $73.0M
    Mar 1, 2024 to Mar 19, 2024
  • Individual RAUM · $245M to $207M
    Mar 1, 2024 to Mar 19, 2024
  • Non-discretionary RAUM · $217M to $352M
    Mar 1, 2024 to Mar 19, 2024
  • Pooled vehicle RAUM · $53.5M to $27.4M
    Mar 1, 2024 to Mar 19, 2024
Signals
23 dated events
  • Kenneth Richard Smith left Alden Capital for Equalize Capital Llc (registered 2019-03-06)
    Jun 15, 2026 · Advisor changed firm · fact
  • Michael James Frederick left Alden Capital for Lpl Financial Llc (registered 2026-05-18)
    May 19, 2026 · Advisor changed firm · fact
  • Brandon Joseph Skupski left Alden Capital for Lpl Financial Llc (registered 2026-05-18)
    May 19, 2026 · Advisor changed firm · fact
  • 2 advisors left Alden Capital (Collegeville, PA) for LPL Financial LLC on the same day
    May 19, 2026 · Team lift-out · derived
  • Charles Leroy Wisner left Alden Capital for Janney Montgomery Scott Llc (registered 2025-11-04)
    Nov 4, 2025 · Advisor changed firm · fact
  • Alden Capital reported RAUM $1.4B, up 120% from $657.2M (2025-01-22 to 2025-03-26)
    Mar 26, 2025 · RAUM change · derived
  • Tedd Aaron Meyer left Alden Capital for Tlg Advisors, Inc. (registered 2025-01-23)
    Jan 6, 2025 · Advisor changed firm · fact
  • Yu Chen left Alden Capital for Infinity Financial Services Advisory (registered 2022-12-22)
    Dec 31, 2022 · Advisor changed firm · fact
  • Derek Rudolf D'Alonzo left Alden Capital for Alden Investment Group (registered 2022-06-30)
    Nov 22, 2022 · Advisor changed firm · fact
  • Gustavo Isaac Masri left Alden Capital for Alden Investment Group (registered 2022-04-26)
    Nov 3, 2022 · Advisor changed firm · fact
  • Robert Arthur Lansing left Alden Capital for Alden Investment Group (registered 2022-04-06)
    Nov 3, 2022 · Advisor changed firm · fact
  • Nathan Daniel Goad left Alden Capital for Sparta Wealth Partners (registered 2022-03-02)
    Nov 3, 2022 · Advisor changed firm · fact
  • 2 advisors left Alden Capital (Wayne, PA) for Alden Investment Group on the same day
    Nov 3, 2022 · Team lift-out · derived
  • John Glennon O'Connell left Alden Capital for John G. O'Connell (registered 2026-01-01)
    Sep 23, 2022 · Advisor changed firm · fact
  • Andrew J Giannone left Alden Capital for Forefront Analytics, Llc (registered 2022-06-02)
    Jun 16, 2022 · Advisor changed firm · fact
  • David Blair Thompson left Alden Capital for Sparta Wealth Partners (registered 2022-04-18)
    Apr 13, 2022 · Advisor changed firm · fact
  • Deborah Ann Davis left Alden Capital for Alden Investment Group (registered 2022-04-04)
    Apr 4, 2022 · Advisor changed firm · fact
  • Alden Capital reported RAUM $672.3M, up 41% from $478.2M (2022-02-11 to 2022-03-29)
    Mar 29, 2022 · RAUM change · derived
  • Andrew Bret Burquest left Alden Capital for Sparta Wealth Partners (registered 2022-02-16)
    Feb 15, 2022 · Advisor changed firm · fact
  • Alden Capital reported RAUM $478.2M, up 78% from $268.0M (2020-11-19 to 2021-03-17)
    Mar 17, 2021 · RAUM change · derived
  • Alden Capital reported RAUM $219.8M, up 104% from $107.7M (2019-10-03 to 2019-12-02)
    Dec 2, 2019 · RAUM change · derived
  • Francis John Mulqueen (Chief Operating Officer) appeared on Schedule A of Alden Capital
    Jun 11, 2019 · Control person joined · fact
  • Alden Capital filed its initial SEC registration (Form ADV)
    Mar 1, 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
215-572-8700reportedpublished by the firm, firm site, Sep 15, 2026
Business phone
302-883-7568reportedpublished by the firm, firm site, Sep 15, 2026
Website
ALDENINVESTMENTGROUP.COMreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone
(215) 572-8700reportedpublic record, Form ADV, Sep 2, 2026
Contact form
aldeninvestmentgroup.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
Team page
aldeninvestmentgroup.com/people/lee-calforeportedpublished by the firm, firm site, Sep 15, 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
$75.8Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026