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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SEC-registered adviser

I•••• C•••••• L••

Asset manager (funds and pooled vehicles)Minneapolis, MinnesotaCRD 309034SEC 801-119546IAPD
Latest filing Mar 25, 2026
First filing on the tape Aug 28, 2020 · 8 filings
SEC status approved since Nov 17, 2020
RAUM
$365M
reported, Item 5.F
Discretionary
100%
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
1
1 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
1
reported on Schedule D
History
8 filings and snapshots on the tape
RAUM$365M as of Mar 25, 2026
Mar 31, 2021$266M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 25, 2026
Mar 31, 20210 then
Employees (5.A)1 as of Mar 25, 2026
Mar 31, 20211 then
Private funds1 as of Mar 25, 2026
Mar 31, 20211 then
RAUM +4.7% over the last fiscal year+4.5% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 25, 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
$365MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%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
+4.7%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
otherreportedItem 5.E
Advisory activities
portfolio management for pooled vehicles, 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
  • has discretionary authority over which securities are bought or sold (8.C.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$365M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
1reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
n/areported
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
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
      No private fund reported.
      Owners and control persons
      Schedule A and B, latest filing
      • L•••• S•••••• B•••••• · Chief Compliance Officercontrol
        since 08/2020 · owns less than 5%
      • T••••••••• D•••••• C•••• · President And Managercontrol
        since 02/2019 · owns less than 5%
      • R••••••• J••••••• W•••••• · Trusteecontrol
        since 05/2018 · owns F of D••••• C•••• T•••••••• 2••• I••••••••• T••••
      • T••••••••• D•••••• C•••• · Beneficiarycontrol
        since 03/2019 · owns 75% or more of D••••• C•••• T•••••••• 2••• I••••••••• T••••
      Entity owners
      • I•••• C•••••• M••••••••• L•••••• · Sole Member
        direct · owns 75% or more
      • A••• C••••••••• E••••• L•• · Shareholder
        indirect · owns 75% or more of A••• F••• S••••••• ••••••••• L•••
      • A••• F••• S••••••• ••••••••• L••• · Trustee
        indirect · owns F of T•• G••••••• S•••••••••
      • A••• G•••• L•••••• · Shareholder
        indirect · owns 75% or more of A••• S••••••••• H••••••• L••••••
      • A••• S••••••••• H••••••• L•••••• · Shareholder
        indirect · owns 75% or more of A••• S••••••••• I••••••••• H••••••• L••••••
      • A••• S••••••••• I••••••••• H••••••• L•••••• · Shareholder
        indirect · owns 75% or more of A••• C••••••••• E••••• L••
      • D••••• C•••• T•••••••• 2••• I••••••••• T•••• · Shareholder
        indirect · owns 75% or more of L••••• H•••• L••
      • H••• L••• H••••••• L•• · Shareholder
        indirect · owns 75% or more of I•••• C•••••• M••••••••• L••••••
      • L••••• H•••• L•• · Shareholder
        indirect · owns 75% or more of H••• L••• H••••••• L••
      • T•• G••••••• S••••••••• · Shareholder
        indirect · owns 25% to 50% of I•••• C•••••• M••••••••• L••••••
      Related persons
      Schedule D 7.A
      Advisers that list I•••• C•••••• L•• as a related person
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Discretionary RAUM · $349M to $365M
        Mar 26, 2025 to Mar 25, 2026
      • Pooled vehicle RAUM · $349M to $365M
        Mar 26, 2025 to Mar 25, 2026
      • RAUM · $349M to $365M
        Mar 26, 2025 to Mar 25, 2026
      • Financial planning clients · unset to
        Mar 21, 2024 to Mar 26, 2025
      • Discretionary RAUM · $365M to $349M
        Mar 21, 2024 to Mar 26, 2025
      • Pooled vehicle RAUM · $365M to $349M
        Mar 21, 2024 to Mar 26, 2025
      • RAUM · $365M to $349M
        Mar 21, 2024 to Mar 26, 2025
      • Discretionary RAUM · $320M to $365M
        Mar 30, 2023 to Mar 21, 2024
      • Pooled vehicle RAUM · $320M to $365M
        Mar 30, 2023 to Mar 21, 2024
      • RAUM · $320M to $365M
        Mar 30, 2023 to Mar 21, 2024
      • Discretionary RAUM · $364M to $320M
        Mar 29, 2022 to Mar 30, 2023
      • Pooled vehicle RAUM · $364M to $320M
        Mar 29, 2022 to Mar 30, 2023
      • RAUM · $364M to $320M
        Mar 29, 2022 to Mar 30, 2023
      • Related broker-dealer · true to false
        Mar 29, 2022 to Mar 30, 2023
      • Discretionary RAUM · $266M to $364M
        Mar 31, 2021 to Mar 29, 2022
      • Pooled vehicle RAUM · $266M to $364M
        Mar 31, 2021 to Mar 29, 2022
      • RAUM · $266M to $364M
        Mar 31, 2021 to Mar 29, 2022
      • Discretionary RAUM · $229M to $266M
        Oct 13, 2020 to Mar 31, 2021
      • Pooled vehicle RAUM · $229M to $266M
        Oct 13, 2020 to Mar 31, 2021
      • RAUM · $229M to $266M
        Oct 13, 2020 to Mar 31, 2021
      Signals
      2 dated events
      • William Jeffrey Roberts (Trustee) appeared on Schedule A of I•••• C•••••• L••
        Oct 13, 2020 · Control person joined · fact
      • I•••• C•••••• L•• filed its initial SEC registration (Form ADV)
        Aug 28, 2020 · 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
      Principal office phone
      973.641.7393reportedpublic record, Form ADV, Mar 25, 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