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
Legalist
Asset manager (funds and pooled vehicles)San Francisco, CaliforniaCRD 297876SEC 801-117830websiteIAPD
Legal name Legalist, Inc.
Latest filing Jun 29, 2026
First filing on the tape Nov 19, 2019 · 16 filings
SEC status approved since Dec 20, 2019
RAUM
$1.9B
reported, Item 5.F
Discretionary
78%
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
36
16 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
13
reported on Schedule D
History
16 filings and snapshots on the tape
RAUM$1.9B as of Jun 29, 2026
Jun 26, 2020$140M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Jun 29, 2026
Jun 26, 20200 then
Employees (5.A)36 as of Jun 29, 2026
Jun 26, 202015 then
Private funds13 as of Jun 29, 2026
Jun 26, 20203 then
RAUM +134% over the last fiscal year+106% a year over threeIARs 0 to 0offices 1 to 0
Practice profile
derived from the filing of Jun 29, 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
- $113MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 78%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +19%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, 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
- has discretionary authority over which securities are bought or sold (8.C.1)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- 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
- Pooled investment vehicles$1.5B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 17reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=0.78 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
12 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Legalist Fund III, LP | Other Private Fund | $304M | 77 | Jun 29, 2022 |
| Legalist Government Receivables Fund, LP | Other Private Fund | $131M | 88 | Jul 1, 2024 |
| Legalist Fund II, L.P. | Other Private Fund | $122M | 40 | Nov 19, 2019 |
| Legalist Spv III, LP | Other Private Fund | $102M | 1 | Jun 29, 2022 |
| Legalist Spv Fund I, LP | Other Private Fund | $58.6M | 1 | Jun 26, 2020 |
| Legalist Dip Fund II, LP | Other Private Fund | $57.0M | 44 | Jun 29, 2023 |
| Legalist Dip Offshore Fund II, Ltd | Other Private Fund | $53.9M | 13 | Jun 29, 2023 |
| Legalist Dip Fund I, LP | Other Private Fund | $49.0M | 34 | Jul 1, 2021 |
| Legalist Dip Offshore Fund I, Ltd | Other Private Fund | $49.0M | 4 | Jun 29, 2022 |
| Legalist Dip Spv II, LP | Other Private Fund | $28.0M | 3 | Jul 1, 2021 |
| Legalist Fund I, L.P. | Other Private Fund | $11.5M | 14 | Jan 7, 2019 |
| Legalist Spv II, LP | Other Private Fund | $6.2M | 1 | Jun 29, 2022 |
Owners and control persons
Schedule A and B, latest filing
- Gwilym Benedict Christian Haigh · Chief Investment Officercontrolsince 03/2016 · owns 25% to 50%
- C Michael Li · Chief Compliance Officer/Director Of Financecontrolsince 12/2021 · owns less than 5%
- Thomas Brian Rice · Chief Operating Officercontrolsince 06/2020 · owns less than 5%
- Yingchong Shang · Chief Executive Officercontrolsince 03/2016 · owns 25% to 50%
Entity owners
- Y Combinator Investments, LLC Series S16 · Investordirect · owns 5% to 10%
Related persons
Schedule D 7.A
- Compound Planning, Inc.investment advisernRAUM $4.8B
- Legalist Dip Gp, LLCpooled vehicle sponsory
- Legalist Dip II Gp, LLCpooled vehicle sponsory
- Legalist Government Receivables Gp, LLCpooled vehicle sponsory
- Legalist Gp II, L.L.C.pooled vehicle sponsory
- Legalist Gp III, LLCpooled vehicle sponsory
- Legalist Gp, L.L.C.pooled vehicle sponsory
- Legalist Spv Gp I, LLCpooled vehicle sponsory
- Legalist Spv Gp II, LLCpooled vehicle sponsory
- Legalist Spv Gp III, LLCpooled vehicle sponsory
Advisers that list Legalist as a related person
Offices
Schedule D 1.F, the 25 largest
- San Francisco, CA
What changed
consecutive filings, newest first
- Accounts · 15 to 17Jun 27, 2025 to Jun 29, 2026
- Pooled vehicle clients · 14 to 15Jun 27, 2025 to Jun 29, 2026
- Discretionary RAUM · $999M to $1.5BJun 27, 2025 to Jun 29, 2026
- Non-discretionary RAUM · $30.0M to $430MJun 27, 2025 to Jun 29, 2026
- Pooled vehicle RAUM · $999M to $1.5BJun 27, 2025 to Jun 29, 2026
- RAUM · $1.0B to $1.9BJun 27, 2025 to Jun 29, 2026
- Accounts · 13 to 15Apr 29, 2025 to Jun 27, 2025
- Advisory employees · 13 to 16Apr 29, 2025 to Jun 27, 2025
- Pooled vehicle clients · 13 to 14Apr 29, 2025 to Jun 27, 2025
- Employees · 33 to 36Apr 29, 2025 to Jun 27, 2025
- Financial planning clients · unset to Apr 29, 2025 to Jun 27, 2025
- Other offices · 1 to 0Apr 29, 2025 to Jun 27, 2025
- Private funds · 12 to 13Apr 29, 2025 to Jun 27, 2025
- Discretionary RAUM · $973M to $999MApr 29, 2025 to Jun 27, 2025
- Non-discretionary RAUM · $0 to $30.0MApr 29, 2025 to Jun 27, 2025
- Pooled vehicle RAUM · $973M to $999MApr 29, 2025 to Jun 27, 2025
- RAUM · $973M to $1.0BApr 29, 2025 to Jun 27, 2025
- Accounts · 11 to 13Feb 13, 2024 to Jul 1, 2024
- Pooled vehicle clients · 11 to 13Feb 13, 2024 to Jul 1, 2024
- Employees · 34 to 33Feb 13, 2024 to Jul 1, 2024
- Private funds · 11 to 12Feb 13, 2024 to Jul 1, 2024
- Discretionary RAUM · $820M to $973MFeb 13, 2024 to Jul 1, 2024
- Pooled vehicle RAUM · $820M to $973MFeb 13, 2024 to Jul 1, 2024
- RAUM · $820M to $973MFeb 13, 2024 to Jul 1, 2024
- HQ city · STATELINE to SAN FRANCISCOSep 15, 2023 to Feb 13, 2024
- HQ state · NV to CASep 15, 2023 to Feb 13, 2024
- Related adviser · false to trueJun 29, 2023 to Sep 15, 2023
- Accounts · 9 to 11Nov 2, 2022 to Jun 29, 2023
- Advisory employees · 16 to 13Nov 2, 2022 to Jun 29, 2023
- Pooled vehicle clients · 9 to 11Nov 2, 2022 to Jun 29, 2023
- Employees · 44 to 34Nov 2, 2022 to Jun 29, 2023
- Other offices · 3 to 1Nov 2, 2022 to Jun 29, 2023
- Private funds · 9 to 11Nov 2, 2022 to Jun 29, 2023
- Discretionary RAUM · $668M to $820MNov 2, 2022 to Jun 29, 2023
- Pooled vehicle RAUM · $668M to $820MNov 2, 2022 to Jun 29, 2023
- RAUM · $668M to $820MNov 2, 2022 to Jun 29, 2023
- Accounts · 5 to 9Jan 26, 2022 to Jun 29, 2022
- Advisory employees · 10 to 16Jan 26, 2022 to Jun 29, 2022
- Pooled vehicle clients · 5 to 9Jan 26, 2022 to Jun 29, 2022
- Employees · 20 to 44Jan 26, 2022 to Jun 29, 2022
Signals
3 dated events
- Legalist reported RAUM $1.9B, up 86% from $1.0B (2025-06-27 to 2026-06-29)Jun 29, 2026 · RAUM change · derived
- Legalist reported RAUM $667.5M, up 205% from $218.7M (2022-01-26 to 2022-06-29)Jun 29, 2022 · RAUM change · derived
- Legalist filed its initial SEC registration (Form ADV)Nov 19, 2019 · 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
- Firm profile
- linkedin.com/company/legalistreportedpublic record, Form ADV, Sep 17, 2026
- Website
- legalist.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 415-570-7878reportedpublic record, Form ADV, Jun 29, 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