DFX Intelligence

RIA Intelligence

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SEC-registered adviser

S••••••• A•••••••

Asset manager (funds and pooled vehicles)Abilene, TexasCRD 300084SEC 801-114671IAPD

Legal name S••••••• A•••••••• L••

Latest filing Mar 31, 2026

First filing on the tape Jan 4, 2019 · 16 filings

SEC status approved since Feb 19, 2019

RAUM

$788M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

0.0%

$0 individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$788M

derived; firm RAUM over IAPD count

Employees

7 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

16 filings and snapshots on the tape

RAUM$788M as of Mar 31, 2026

Mar 30, 2020$334M then

HNW client RAUM: no history

State-registered IARs (5.B.3)0 as of Mar 31, 2026

Mar 30, 20200 then

Employees (5.A)7 as of Mar 31, 2026

Mar 30, 20209 then

Private funds6 as of Mar 31, 2026

Mar 30, 20207 then

RAUM +0.6% over the last fiscal year+4.7% a year over threeIARs 0 to 0

Practice profile

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

Archetypes, each a printed rule

Solo or small team · one advisor, or a wealth manager with up to three advisors and one office

RAUM per advisor: $788MderivedRAUM 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: $131MderivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 7.0derivedItem 5.A over advisors
Advisors per office: 0.3derived3 offices incl. principal (1.F.5)
RAUM growth, one year: +0.6%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-based, otherreportedItem 5.E
Advisory activities: portfolio management for pooled vehicles, otherreportedItem 5.G
Custody: $788M, 6 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)
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)
marketing includes hypothetical performance (5.L.3)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Pooled investment vehicles$788M100%

Individual clients: n/areported
HNW clients: n/areported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 6reported
Financial planning clients: reported
Wrap fee programs: noreported
Custody of client assets: $788M for 6 clientsreported
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

1 on IAPD today, longest tenure first

Name	Branch	Here since	In industry	Prior firms
J••• M•••••• D•••••	Abilene, Tx	May 30, 2019	15 y	0

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

none on the tape

Joined, latest

none on the tape

Every departure Every arrival

Private funds

9 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
S•••••••• L•	Hedge Fund	$474M	63	Jan 4, 2019
C•••••• S•••••• M••••• L••	Private Equity Fund	$19.7M	8	Mar 30, 2020
G•••••• S••••• M•••• F•••• L••	Private Equity Fund	$15.3M	9	Mar 30, 2023
S••••••••• I••••••••• L•	Private Equity Fund	$12.9M	8	Jan 4, 2019
B••••• S•••••• M••••• L••	Private Equity Fund	$5.3M	10	Jan 4, 2019
K•••• L•	Private Equity Fund	$1.5M	5	Jan 4, 2019
S•••••• L•no longer reported	Private Equity Fund	$421,354	2	Jan 4, 2019
L•••• M••••• L••no longer reported	Private Equity Fund	$126,999	10	Jan 4, 2019
T••••• M••••• L••no longer reported	Private Equity Fund	$31,967	10	Jan 4, 2019

Owners and control persons

Schedule A and B, latest filing

D•••••• J•••• M•••••• · Chief Compliance Officer And Chief Financial Officercontrol
since 01/2019 · owns less than 5%
O•••••• E•••• L•• · President And Managing Membercontrol
since 01/2019 · owns less than 5%
O•••••• K••••• D••••• · Chief Trading/Risk Officercontrol
since 01/2019 · owns less than 5%
O•••••• E•••• L•• · President And Managing Membercontrol
since 03/2019 · owns 25% to 50% of S••••••• A••••••• H•••••••• L••
O•••••• K••••• D••••• · Membercontrol
since 03/2019 · owns 25% to 50% of S••••••• A••••••• H•••••••• L••

Entity owners

S••••••• A••••••• H•••••••• L•• · Managing Member
direct · owns 75% or more

Related persons

Schedule D 7.A

S••••••• G• I• L••
pooled vehicle sponsorn

Offices

Schedule D 1.F, the 25 largest

Dallas, TX1 employees
Nashville, TN1 employees

ADV anomalies

1 against comparable advisers; where to look, not conclusions

custody status changedChange between filings · filing Mar 31, 2026
custody of client assets (Item 9.A): no on the filing of 2025-03-27, yes on the filing of 2026-03-31
peers: asset managers, $500M to $1B (784)

How anomalies are measured

What changed

consecutive filings, newest first

Assets in custody · unset to 788226856.0
Mar 27, 2025 to Mar 31, 2026
Custody of client assets · false to true
Mar 27, 2025 to Mar 31, 2026
Discretionary RAUM · $784M to $788M
Mar 27, 2025 to Mar 31, 2026
Pooled vehicle RAUM · $784M to $788M
Mar 27, 2025 to Mar 31, 2026
RAUM · $784M to $788M
Mar 27, 2025 to Mar 31, 2026
Financial planning clients · unset to
Mar 26, 2024 to Mar 27, 2025
Discretionary RAUM · $544M to $784M
Mar 26, 2024 to Mar 27, 2025
Pooled vehicle RAUM · $544M to $784M
Mar 26, 2024 to Mar 27, 2025
RAUM · $544M to $784M
Mar 26, 2024 to Mar 27, 2025
Advisory employees · 6 to 7
Sep 26, 2023 to Mar 26, 2024
Employees · 8 to 7
Sep 26, 2023 to Mar 26, 2024
Other offices · 1 to 2
Sep 26, 2023 to Mar 26, 2024
Discretionary RAUM · $686M to $544M
Sep 26, 2023 to Mar 26, 2024
Pooled vehicle RAUM · $686M to $544M
Sep 26, 2023 to Mar 26, 2024
RAUM · $686M to $544M
Sep 26, 2023 to Mar 26, 2024
Other offices · 2 to 1
Jun 28, 2023 to Sep 26, 2023
Other offices · 1 to 2
Mar 30, 2023 to Jun 28, 2023
Accounts · 7 to 6
Nov 1, 2022 to Mar 30, 2023
Advisory employees · 7 to 6
Nov 1, 2022 to Mar 30, 2023
Pooled vehicle clients · 7 to 6
Nov 1, 2022 to Mar 30, 2023
Employees · 9 to 8
Nov 1, 2022 to Mar 30, 2023
Other offices · 2 to 1
Nov 1, 2022 to Mar 30, 2023
Private funds · 7 to 6
Nov 1, 2022 to Mar 30, 2023
Discretionary RAUM · $407M to $686M
Nov 1, 2022 to Mar 30, 2023
Pooled vehicle RAUM · $407M to $686M
Nov 1, 2022 to Mar 30, 2023
RAUM · $407M to $686M
Nov 1, 2022 to Mar 30, 2023
Employees · 8 to 9
Mar 31, 2021 to Mar 30, 2022
Discretionary RAUM · $297M to $407M
Mar 31, 2021 to Mar 30, 2022
Pooled vehicle RAUM · $297M to $407M
Mar 31, 2021 to Mar 30, 2022
RAUM · $297M to $407M
Mar 31, 2021 to Mar 30, 2022
Employees · 9 to 8
Nov 30, 2020 to Mar 31, 2021
Discretionary RAUM · $334M to $297M
Nov 30, 2020 to Mar 31, 2021
Pooled vehicle RAUM · $334M to $297M
Nov 30, 2020 to Mar 31, 2021
RAUM · $334M to $297M
Nov 30, 2020 to Mar 31, 2021
State-registered IARs · 1 to 0
May 31, 2019 to Mar 30, 2020
Discretionary RAUM · $263M to $334M
May 31, 2019 to Mar 30, 2020
Pooled vehicle RAUM · $263M to $334M
May 31, 2019 to Mar 30, 2020
RAUM · $263M to $334M
May 31, 2019 to Mar 30, 2020
Discretionary RAUM · $228M to $263M
Mar 28, 2019 to May 31, 2019
Pooled vehicle RAUM · $228M to $263M
Mar 28, 2019 to May 31, 2019

Signals

5 dated events

S••••••• A••••••• reported RAUM $783.5M, up 44% from $544.2M (2024-03-26 to 2025-03-27)
Mar 27, 2025 · RAUM change · derived
S••••••• A••••••• reported RAUM $686.1M, up 69% from $406.6M (2022-11-01 to 2023-03-30)
Mar 30, 2023 · RAUM change · derived
G••• D••••• Mcfarland (Chief Financial Officer) no longer on Schedule A of S••••••• A••••••• (listed 2022-03-30, absent 2022-08-18)
Aug 18, 2022 · Control person left · inference
S••••••• A••••••• reported RAUM $406.6M, up 37% from $297.4M (2021-03-31 to 2022-03-30)
Mar 30, 2022 · RAUM change · derived
S••••••• A••••••• filed its initial SEC registration (Form ADV)
Jan 4, 2019 · First SEC registration · fact

Across DFX

shared identifiers only, never a name match

S••••••• A••••••• · Independent Sponsors
shared crd · capital_provider
S••••••• A••••••• · Private Equity
shared crd · organization

How to reach

public business contact points only, each with its source

Principal office phone: 325-677-6177reportedpublic 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: $788Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026