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.

Former SEC-registered adviser

First Trust Direct Indexing

Former SEC-registered adviserBoston, MassachusettsCRD 297760SEC 801-113667IAPD
Legal name First Trust Direct Indexing L.P.
Latest filing Sep 23, 2024
First filing on the tape Jun 22, 2018 · 52 filings
RAUM
$1.4B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
49%
$690M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
11
3 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
52 filings and snapshots on the tape
RAUM$1.4B as of Jan 28, 2024
Mar 28, 2019$158M then
HNW client RAUM$690M as of Jan 28, 2024
Mar 28, 2019$158M then
State-registered IARs (5.B.3)4 as of Jan 28, 2024
Mar 28, 20194 then
Employees (5.A)10 as of Jan 28, 2024
Mar 28, 20198 then
Private funds: no history
RAUM +44% over the last fiscal year+24% a year over threeIARs 5 to 3
Practice profile
derived from the filing of Sep 23, 2024; every figure names its basis
RAUM per advisor
$474MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.7MderivedHNW RAUM over HNW clients
Average account
$2.7MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
36%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
3.7derivedItem 5.A over advisors
Advisors per office
1.0derived3 offices incl. principal (1.F.5)
RAUM growth, one year
+44%derivedbetween the last two annual amendments
Advisor growth, one year
-20%derivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
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
Custody
$6.5M, 2 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)
  • 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)
  • 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
  • High-net-worth individuals$690M49%
  • Charitable organizations$508M36%
  • Corporations and businesses$222M16%
Individual clients
n/areported
HNW clients
405reported
Pension plan clients
n/areported
Charitable clients
25reported
Accounts
528reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
$6.5M for 2 clientsreported
Compensation
% of AUM, fixedreported
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
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • Morris Samuel Carter · Ccocontrol
      since 12/2021 · owns less than 5%
    • James Robert Hughes · Ceocontrol
      since 11/2022 · owns less than 5%
    • Ian Gerald Moore · Coocontrol
      since 05/2020 · owns less than 5%
    • Allen James Bowen · Shareholdercontrol
      since 10/2010 · owns 75% or more of Ajm Ventures LLC
    Entity owners
    • Entwood Holdings LLC · Owner
      direct · owns 25% to 50%
    • First Trust Capital Partners · Owner
      direct · owns 75% or more
    • Ft Direct Indexing Gp LLC · General Partner
      direct · owns less than 5%
    • Ajm Ventures LLC · Shareholder
      indirect · owns 75% or more of The Charger Corporation
    • Grace Partners Of Dupage L.P. · Shareholder
      indirect · owns 75% or more of First Trust Capital Partners
    • The Charger Corporation · General Partner
      indirect · owns F of Grace Partners Of Dupage L.P.
    Related persons
    Schedule D 7.A
    Advisers that list First Trust Direct Indexing as a related person
    Offices
    Schedule D 1.F, the 25 largest
    • Austin, TX1 employees
    • Wheaton, IL1 employees
    What changed
    consecutive filings, newest first
    • Advisory employees · 6 to 3
      Jun 10, 2024 to Jul 16, 2024
    • Employees · 8 to 11
      Jun 10, 2024 to Jul 16, 2024
    • State-registered IARs · 2 to 3
      Jun 10, 2024 to Jul 16, 2024
    • Other offices · 1 to 2
      Apr 24, 2024 to Jun 10, 2024
    • Advisory employees · 8 to 6
      Mar 21, 2024 to Apr 1, 2024
    • Employees · 10 to 8
      Mar 21, 2024 to Apr 1, 2024
    • State-registered IARs · 4 to 2
      Mar 21, 2024 to Apr 1, 2024
    • Accounts · 282 to 528
      Jan 2, 2024 to Jan 28, 2024
    • Advisory employees · 9 to 8
      Jan 2, 2024 to Jan 28, 2024
    • Charity clients · 20 to 25
      Jan 2, 2024 to Jan 28, 2024
    • Corporate clients · 18 to 28
      Jan 2, 2024 to Jan 28, 2024
    • HNW clients · 189 to 405
      Jan 2, 2024 to Jan 28, 2024
    • Assets in custody · $18.9M to $6.5M
      Jan 2, 2024 to Jan 28, 2024
    • Employees · 13 to 10
      Jan 2, 2024 to Jan 28, 2024
    • State-registered IARs · 5 to 4
      Jan 2, 2024 to Jan 28, 2024
    • Other offices · 2 to 1
      Jan 2, 2024 to Jan 28, 2024
    • Discretionary RAUM · $990M to $1.4B
      Jan 2, 2024 to Jan 28, 2024
    • HNW RAUM · $391M to $690M
      Jan 2, 2024 to Jan 28, 2024
    • RAUM · $990M to $1.4B
      Jan 2, 2024 to Jan 28, 2024
    • Business name · FIRST TRUST DIRECT INDEXING L.P. to FIRST TRUST DIRECT INDEXING
      Mar 22, 2023 to Jun 12, 2023
    • Accounts · 213 to 282
      Feb 1, 2023 to Mar 22, 2023
    • Advisory employees · 7 to 9
      Feb 1, 2023 to Mar 22, 2023
    • Business name · VERITI MANAGEMENT LLC to FIRST TRUST DIRECT INDEXING L.P.
      Feb 1, 2023 to Mar 22, 2023
    • Charity clients · 30 to 20
      Feb 1, 2023 to Mar 22, 2023
    • Corporate clients · 21 to 18
      Feb 1, 2023 to Mar 22, 2023
    • HNW clients · 162 to 189
      Feb 1, 2023 to Mar 22, 2023
    • Assets in custody · $20.7M to $18.9M
      Feb 1, 2023 to Mar 22, 2023
    • Employees · 9 to 13
      Feb 1, 2023 to Mar 22, 2023
    • Legal name · VERITI MANAGEMENT LLC to FIRST TRUST DIRECT INDEXING L.P.
      Feb 1, 2023 to Mar 22, 2023
    • Other offices · 3 to 2
      Feb 1, 2023 to Mar 22, 2023
    • Discretionary RAUM · $1.0B to $990M
      Feb 1, 2023 to Mar 22, 2023
    • HNW RAUM · $343M to $391M
      Feb 1, 2023 to Mar 22, 2023
    • RAUM · $1.0B to $990M
      Feb 1, 2023 to Mar 22, 2023
    • Succession · true to false
      Feb 1, 2023 to Mar 22, 2023
    • Employees · 7 to 9
      Jan 31, 2023 to Feb 1, 2023
    • Other offices · 2 to 3
      Jan 31, 2023 to Feb 1, 2023
    • Organization form · Limited Liability Company to Limited Partnership
      Jan 31, 2023 to Feb 1, 2023
    • Succession · false to true
      Jan 31, 2023 to Feb 1, 2023
    • Advisory activities · 3 to 4
      Nov 9, 2022 to Dec 22, 2022
    • Employees · 8 to 7
      Aug 18, 2022 to Nov 3, 2022
    Signals
    16 dated events
    • First Trust Direct Indexing reported RAUM $1.4B, up 44% from $990.1M (2024-01-02 to 2024-01-28)
      Jan 28, 2024 · RAUM change · derived
    • Kendall James Dilworth (Managing Partner) no longer on Schedule A of First Trust Direct Indexing (listed 2024-01-02, absent 2024-01-28)
      Jan 28, 2024 · Control person left · inference
    • Lee David Beatty (Member) no longer on Schedule A of First Trust Direct Indexing (listed 2024-01-02, absent 2024-01-28)
      Jan 28, 2024 · Control person left · inference
    • Janhwa Joshua Cheng (Cao) no longer on Schedule A of First Trust Direct Indexing (listed 2022-11-09, absent 2022-12-22)
      Dec 22, 2022 · Control person left · inference
    • James Robert Hughes (Ceo) appeared on Schedule A of First Trust Direct Indexing
      Dec 22, 2022 · Control person joined · fact
    • Allen James Bowen (Shareholder) appeared on Schedule A of First Trust Direct Indexing
      Aug 17, 2022 · Control person joined · fact
    • First Trust Direct Indexing reported RAUM $1.0B, up 41% from $744.7M (2021-12-07 to 2022-03-16)
      Mar 16, 2022 · RAUM change · derived
    • 2 advisors left Daintree Advisors LLC (Boston, MA) for First Trust Direct Indexing on the same day
      Jan 6, 2022 · Team lift-out · derived
    • Morris Samuel Carter (Cco) appeared on Schedule A of First Trust Direct Indexing
      Dec 2, 2021 · Control person joined · fact
    • Marie Karen Angrisano (Cco) no longer on Schedule A of First Trust Direct Indexing (listed 2021-08-30, absent 2021-12-02)
      Dec 2, 2021 · Control person left · inference
    • Mark Kent Forkner (Chief Investment Officer) no longer on Schedule A of First Trust Direct Indexing (listed 2021-08-30, absent 2021-12-02)
      Dec 2, 2021 · Control person left · inference
    • First Trust Direct Indexing reported RAUM $744.7M, up 225% from $229.1M (2021-02-22 to 2021-03-27)
      Mar 27, 2021 · RAUM change · derived
    • Ian Gerald Moore (Coo) appeared on Schedule A of First Trust Direct Indexing
      Mar 27, 2021 · Control person joined · fact
    • Janhwa Joshua Cheng (Coo) appeared on Schedule A of First Trust Direct Indexing
      Mar 5, 2020 · Control person joined · fact
    • Veriti Management Llc reported succeeding to the business of Another Adviser (Form ADV Item 4)
      Mar 28, 2019 · Succession (Item 4) · fact
    • Arboretum Advisors Llc filed its initial SEC registration (Form ADV)
      Jun 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.
    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