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.

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Former SEC-registered adviser

B•••••••• L••

Former SEC-registered adviserNew York, New YorkCRD 306095SEC 801-122154IAPD
Latest filing Apr 18, 2022
First filing on the tape Jul 23, 2021 · 3 filings
RAUM
$152M
reported, Item 5.F
Discretionary
52%
of RAUM
Private clients
17%
$25.6M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
6
3 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
5
$121M gross assets
History
3 filings and snapshots on the tape
RAUM$152M as of Apr 18, 2022
Jul 23, 2021$314M then
HNW client RAUM$25.6M as of Apr 18, 2022
Jul 23, 2021$110M then
State-registered IARs (5.B.3)0 as of Apr 18, 2022
Jul 23, 20210 then
Employees (5.A)6 as of Apr 18, 2022
Jul 23, 20217 then
Private funds5 as of Apr 18, 2022
Jul 23, 202114 then
RAUM n/a over the last fiscal year
Practice profile
derived from the filing of Apr 18, 2022; 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
$25.6MderivedHNW RAUM over HNW clients
Average account
$19.0MderivedRAUM over accounts (5.F.2.f)
Discretionary
52%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
unknownderivedbetween 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 individuals, portfolio management for pooled vehiclesreportedItem 5.G
Custody
$152M, 8 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)
  • 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
  • Pooled investment vehicles$121M83%
  • High-net-worth individuals$25.6M17%
Individual clients
n/areported
HNW clients
1reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
8reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
$152M for 8 clientsreported
Compensation
% of AUM, performancereported
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
none on the tape
    Joined, latest
    none on the tape
      Every departureEvery arrival
      Private funds
      3 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      P•••••• F••• •no longer reportedVenture Capital Fund$95.3M3Jan 8, 2020
      B••••••• F•• L••Other Private Fund$10.2M12Mar 26, 2021
      B••••••• C••••••• I• Y•• C••• L••Other Private Fund$6.9M9Mar 26, 2021
      Owners and control persons
      Schedule A and B, latest filing
      • H•••••• G••••••• P••••• · Managing Member And Founding Partner Of B•••••••• L••control
        since 08/2017 · owns 25% to 50%
      • H•••••• G••••••• P••••• · Sole Membercontrol
        since 10/2017 · owns 75% or more of B••••••• M••••••• L••
      • K•••••• K•••••• · Trusteecontrol
        since 06/2021 · owns 75% or more of K•• S••• S•••••• T•••• U•••• J••• 4• 2•••
      • M••••••• K••••• A•••• · Member Of B•••••••• L••
        since 11/2017 · owns 5% to 10%
      • P•••••••• L••••••• A•• · Chief Compliance Officer
        since 03/2022 · owns less than 5%
      Entity owners
      • B••••••• M••••••• L•• · M•••••• Of B•••••••• L••
        direct · owns less than 5%
      • K•• S••• S•••••• T•••• U•••• J••• 4• 2••• · Member Of B•••••••• L••
        direct · owns 25% to 50%
      Related persons
      Schedule D 7.A
      • B••••••• P••••••• G•• L••
        pooled vehicle sponsory
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Accounts · 9 to 8
        Jul 23, 2021 to Mar 31, 2022
      • Advisory employees · 5 to 3
        Jul 23, 2021 to Mar 31, 2022
      • Pooled vehicle clients · 7 to 6
        Jul 23, 2021 to Mar 31, 2022
      • Assets in custody · $204M to $152M
        Jul 23, 2021 to Mar 31, 2022
      • Employees · 7 to 6
        Jul 23, 2021 to Mar 31, 2022
      • Private funds · 14 to 5
        Jul 23, 2021 to Mar 31, 2022
      • Discretionary RAUM · $108M to $79.3M
        Jul 23, 2021 to Mar 31, 2022
      • HNW RAUM · $110M to $25.6M
        Jul 23, 2021 to Mar 31, 2022
      • Non-discretionary RAUM · $206M to $72.3M
        Jul 23, 2021 to Mar 31, 2022
      • Pooled vehicle RAUM · $197M to $121M
        Jul 23, 2021 to Mar 31, 2022
      • RAUM · $314M to $152M
        Jul 23, 2021 to Mar 31, 2022
      Signals
      3 dated events
      • B•••••••• L•• reported RAUM $151.7M, down 52% from $313.6M (2021-07-23 to 2022-03-31)
        Mar 31, 2022 · RAUM change · derived
      • W. Anne Pipala (Chief Compliance Officer And Chief Operating Officer) no longer on Schedule A of B•••••••• L•• (listed 2021-07-23, absent 2022-03-31)
        Mar 31, 2022 · Control person left · inference
      • B•••••••• L•• filed its initial SEC registration (Form ADV)
        Jul 23, 2021 · First SEC registration · fact
      Across DFX
      shared identifiers only, never a name match
      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