DFX Intelligence

RIA Intelligence

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SEC-registered adviser

M••••••• D••••••• P••••••••• L••

Other adviserAsheville, North CarolinaCRD 311046SEC 801-119757website IAPD

Latest filing Mar 27, 2026

First filing on the tape Oct 8, 2020 · 11 filings

SEC status approved since Nov 6, 2020

RAUM

$263M

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

n/a

derived; firm RAUM over IAPD count

Employees

2 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

11 filings and snapshots on the tape

RAUM$263M as of Mar 27, 2026

Mar 30, 2021$107M then

HNW client RAUM$13.4M as of Mar 21, 2024

Mar 30, 2021$107M then

State-registered IARs (5.B.3)0 as of Mar 27, 2026

Mar 30, 20210 then

Employees (5.A)3 as of Mar 27, 2026

Mar 30, 20212 then

Private funds: no history

RAUM +13% over the last fiscal year-5.2% a year over threeIARs 0 to 0

Practice profile

derived from the filing of Mar 27, 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: $65.8MderivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 38%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: +13%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 assetsreportedItem 5.E
Advisory activities: portfolio management for businesses and institutions, 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)
marketing includes hypothetical performance (5.L.3)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Corporations and businesses$164M62%
Pension and profit-sharing plans$98.8M38%

Individual clients: n/areported
HNW clients: n/areported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 4reported
Financial planning clients: 0reported
Wrap fee programs: noreported
Custody of client assets: noreported
Compensation: % of AUMreported
Class basis: private_client_share=0.0 fund_share=0.0 institutional_share=0.38 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 departure Every arrival

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

D•••••• D•••••• M•••••• · Chief Investment Officercontrol
since 09/2020 · owns 50% to 75%
M••••••• M••••••• J••••• · Chief Operating Officercontrol
since 09/2020 · owns 10% to 25%
M••••••• M•••• R•••••• · Chief Compliance Officercontrol
since 06/2024 · owns less than 5%

Entity owners

G••••• G•••• I••••••••• L•• · Member
direct · owns 10% to 25%
S•• T•• S• L•• · Member
direct · owns 10% to 25%

Related persons

Schedule D 7.A

No related person reported.

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

ADV anomalies

1 against comparable advisers; where to look, not conclusions

affiliate changedChange between filings · filing Mar 27, 2026
insurance affiliate (Item 7.A.10): yes on the filing of 2025-03-28, no on the filing of 2026-03-27
peers: other advisers, $100M to $500M (212)

How anomalies are measured

What changed

consecutive filings, newest first

Financial planning clients · to 0
Mar 28, 2025 to Mar 27, 2026
Discretionary RAUM · $234M to $263M
Mar 28, 2025 to Mar 27, 2026
Pension RAUM · $84.1M to $98.8M
Mar 28, 2025 to Mar 27, 2026
RAUM · $234M to $263M
Mar 28, 2025 to Mar 27, 2026
Related insurance company · true to false
Mar 28, 2025 to Mar 27, 2026
Advisory activities · 3 to 2
Jul 9, 2024 to Mar 28, 2025
Financial planning clients · unset to
Jul 9, 2024 to Mar 28, 2025
Discretionary RAUM · $213M to $234M
Jul 9, 2024 to Mar 28, 2025
Pension RAUM · $76.9M to $84.1M
Jul 9, 2024 to Mar 28, 2025
RAUM · $213M to $234M
Jul 9, 2024 to Mar 28, 2025
Accounts · 6 to 4
Mar 21, 2024 to Jul 9, 2024
Employees · 2 to 3
Mar 21, 2024 to Jul 9, 2024
Discretionary RAUM · $172M to $213M
Mar 21, 2024 to Jul 9, 2024
HNW RAUM · 13413000.0 to unset
Mar 21, 2024 to Jul 9, 2024
Pension RAUM · $33.8M to $76.9M
Mar 21, 2024 to Jul 9, 2024
RAUM · $172M to $213M
Mar 21, 2024 to Jul 9, 2024
Related insurance company · false to true
Mar 21, 2024 to Jul 9, 2024
Discretionary RAUM · $308M to $172M
Mar 21, 2023 to Mar 21, 2024
HNW RAUM · $100M to $13.4M
Mar 21, 2023 to Mar 21, 2024
Pension RAUM · $40.8M to $33.8M
Mar 21, 2023 to Mar 21, 2024
RAUM · $308M to $172M
Mar 21, 2023 to Mar 21, 2024
Discretionary RAUM · $256M to $308M
Sep 5, 2022 to Mar 21, 2023
Pension RAUM · $31.6M to $40.8M
Sep 5, 2022 to Mar 21, 2023
RAUM · $256M to $308M
Sep 5, 2022 to Mar 21, 2023
Accounts · 4 to 6
Mar 10, 2022 to Sep 5, 2022
Advisory activities · 1 to 3
Mar 10, 2022 to Sep 5, 2022
Discretionary RAUM · $217M to $256M
Mar 10, 2022 to Sep 5, 2022
HNW RAUM · $50.0M to $100M
Mar 10, 2022 to Sep 5, 2022
Pension RAUM · $32.2M to $31.6M
Mar 10, 2022 to Sep 5, 2022
RAUM · $217M to $256M
Mar 10, 2022 to Sep 5, 2022
Accounts · 5 to 4
Oct 27, 2021 to Mar 10, 2022
Discretionary RAUM · $136M to $217M
Oct 27, 2021 to Mar 10, 2022
HNW RAUM · $34.0M to $50.0M
Oct 27, 2021 to Mar 10, 2022
Pension RAUM · $20.9M to $32.2M
Oct 27, 2021 to Mar 10, 2022
RAUM · $136M to $217M
Oct 27, 2021 to Mar 10, 2022
Accounts · 3 to 5
Mar 30, 2021 to Oct 27, 2021
Discretionary RAUM · $107M to $136M
Mar 30, 2021 to Oct 27, 2021
HNW RAUM · $107M to $34.0M
Mar 30, 2021 to Oct 27, 2021
Pension RAUM · unset to 20880000.0
Mar 30, 2021 to Oct 27, 2021
RAUM · $107M to $136M
Mar 30, 2021 to Oct 27, 2021

Signals

3 dated events

Richard Mark Merritt (Chief Compliance Officer) appeared on Schedule A of M••••••• D••••••• P••••••••• L••
Jul 9, 2024 · Control person joined · fact
M••••••• D••••••• P••••••••• L•• reported RAUM $172.0M, down 44% from $308.5M (2023-03-21 to 2024-03-21)
Mar 21, 2024 · RAUM change · derived
M••••••• D••••••• P••••••••• L•• filed its initial SEC registration (Form ADV)
Oct 8, 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

Firm profile: linkedin.com/company/millbank-dartmoor-portsmouthreportedpublic record, Form ADV, Sep 21, 2026
Website: m•••••.comreportedpublic record, Form ADV, Sep 21, 2026
Principal office phone: 828-499-7222reportedpublic record, Form ADV, Mar 27, 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: Other 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