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
Belzberg & Co.
Wealth manager with institutional or fund businessNew York, New YorkCRD 315114SEC 801-122124websiteIAPD
Legal name Belzberg Investments LLC
Latest filing Sep 16, 2026
First filing on the tape Jul 20, 2021 · 13 filings
SEC status approved since Aug 20, 2021
RAUM
$2.3B
reported, Item 5.F
Discretionary
53%
of RAUM
Private clients
47%
$1.1B individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$388M
derived; firm RAUM over IAPD count
Employees
22
14 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
13 filings and snapshots on the tape
RAUM$2.3B as of Jul 1, 2026
Mar 25, 2022$792M then
HNW client RAUM$1.1B as of Jul 1, 2026
Mar 25, 2022$500M then
State-registered IARs (5.B.3)1 as of Jul 1, 2026
Mar 25, 20220 then
Employees (5.A)22 as of Jul 1, 2026
Mar 25, 202214 then
Private funds90 as of Jul 1, 2026
Mar 25, 202213 then
RAUM +37% over the last fiscal year+24% a year over threeIARs 0 to 1offices 0 to 1
Practice profile
derived from the filing of Sep 16, 2026; every figure names its basis
Archetypes, each a printed rule
- Dual wealth and asset manager · private-client share 20 to 60 percent and fund or institutional share at least 30 percent
- RAUM per advisor
- $388MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 5derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $40.4MderivedHNW RAUM over HNW clients
- Average account
- $19.2MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 53%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 3.7derivedItem 5.A over advisors
- Advisors per office
- 3.0derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +37%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- -21%derived
- Compensation
- percentage of assets, fixed fees, performance-based, otherreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for pooled vehicles, selection of other advisersreportedItem 5.G
- Custody
- $268M, 12 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)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- an independent public accountant performs a surprise examination (9.C.1)
- marketing includes testimonials (5.L.1.c)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$1.2B53%
- High-net-worth individuals$1.1B47%
- Individuals$2.0M0.1%
- Individual clients
- 0reported
- HNW clients
- 27reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 121reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- $268M for 12 clientsreported
- Compensation
- % of AUM, fixed, performancereported
- Class basis
- private_client_share=0.47 fund_share=0.53 institutional_share=0.0 related_bd=true related_bank=false bd_reps=6.0derived
Advisors registered through the firm
6 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Chris Nmn TheodoridisChartered Financial Analyst | New York, Ny | Dec 4, 2025 | 14 y | 0 |
| Jason Michael Van Itallie | New York, Ny | Jun 9, 2026 | 18 y | 0 |
| James Grant Bohannon | New York, Ny | Jun 10, 2026 | 10 y | 0 |
| Jonathan Andrew Farmer | New York, Ny | Jul 2, 2026 | 10 y | 1 |
| Nathan Wonoo Song | New York, Ny | Aug 11, 2026 | 12 y | 0 |
| Benjamin Todd Carus | New York, Ny | Aug 19, 2026 | 12 y | 0 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days1 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
none on the tape
Joined, latest
- Jonathan Andrew Farmer from Morgan StanleyJul 2, 2026 · Wirehouse to independent RIA
Private funds
90 reported on Schedule D 7.B.(1)
All funds of Belzberg & Co.
Owners and control persons
Schedule A and B, latest filing
- Neill Pienaar · Cfo And Managercontrolsince 07/2023 · owns less than 5%
- Nmn Christos Theodoridis · Coo, General Counsel, And Ccocontrolsince 11/2021 · owns less than 5%
- Michael Jason Van Itallie · Managercontrolsince 04/2021 · owns less than 5%
- Strauss Zelnick · Managercontrolsince 04/2021 · owns less than 5%
- Nmn Frances Belzberg · Trusteecontrolsince 08/2018 · owns F of The Frances Belzberg Alter Ego Trust
- Johnny Ciampi · Trusteecontrolsince 08/2018 · owns F of The Frances Belzberg Alter Ego Trust
- Marc De La Bruyere · Trusteecontrolsince 08/2018 · owns F of The Frances Belzberg Alter Ego Trust
- Robert Normand · Trusteecontrolsince 08/2018 · owns F of The Frances Belzberg Alter Ego Trust
- Strauss Zelnick · Trusteecontrolsince 08/2018 · owns F of The Frances Belzberg Alter Ego Trust
Entity owners
- Belzberg & Co. LLC · Sole Memberdirect · owns 75% or more
- Bel-Fran Capital Inc. · Sole Memberindirect · owns 75% or more of Belzberg & Co. LLC
- Bel-Fran Capital Ltd. · Shareholderindirect · owns 75% or more of Bel-Fran Capital Inc.
- Bel-Fran Holdco Ltd. · General Partnerindirect · owns F of Bel-Fran Holdings Llp
- Bel-Fran Holdings Llp · Shareholderindirect · owns 75% or more of Bel-Fran Capital Ltd.
- Bel-Fran Holdings Ltd · Shareholderindirect · owns 75% or more of Bel-Fran Holdco Ltd.
- Bel-Fran Holdings Ltd · Shareholderindirect · owns 75% or more of Bel-Fran Holdings Llp
- The Frances Belzberg Alter Ego Trust · Shareholderindirect · owns 75% or more of Bel-Fran Holdings Ltd
Related persons
Schedule D 7.A
- Bel-Fran Capital Inc.pooled vehicle sponsory
- Belzberg Capital LLCbroker-dealern
- Everberg Capital Partners Gp II, L.P.pooled vehicle sponsory
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| New York, Ny · principal | 6 | 6 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
7 against comparable advisers; where to look, not conclusions
- unusually large average HNW clientStatic outlier · filing Sep 16, 2026HNW RAUM per HNW client of $40,370,370 against a peer median of $3,645,749 (1308 comparable advisers, 99.0th percentile, 18.2 robust deviations)peers: independent wealth managers, $1B to $5B (1,308) · 99% percentile
- control person changedChange between filings · filing Jul 1, 2026ZELNICK, STRAUSS (MANAGER) left Schedule A between the filings of 2024-03-28 and 2026-07-01peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Jul 1, 2026DE LA BRUYERE, MARC (TRUSTEE) left Schedule A between the filings of 2024-03-28 and 2026-07-01peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Jul 1, 2026NORMAND, ROBERT (TRUSTEE) left Schedule A between the filings of 2024-03-28 and 2026-07-01peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Jul 1, 2026BELZBERG, FRANCES, NMN (TRUSTEE) left Schedule A between the filings of 2024-03-28 and 2026-07-01peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Jul 1, 2026CIAMPI, JOHNNY (TRUSTEE) left Schedule A between the filings of 2024-03-28 and 2026-07-01peers: independent wealth managers, $1B to $5B (1,360)
- private fund count surgeChange between filings · filing Mar 30, 2026private funds (Schedule D 7.B.1) moved from 56.0 to 90.0 (+61.0%) between the annual amendments of 2025-03-31 and 2026-03-30; the peer median change was 0.0% (126 comparable advisers, 97.0th percentile of changes)peers: independent wealth managers, $1B to $5B (126) · 97% percentile
What changed
consecutive filings, newest first
- Financial planning clients · 1-10 to 1-10Jul 1, 2026 to Sep 16, 2026
- Private funds · 90 to unsetJul 1, 2026 to Sep 16, 2026
- Succession · false to unsetJul 1, 2026 to Sep 16, 2026
- Accounts · 89 to 121Mar 31, 2025 to Mar 30, 2026
- Advisory employees · 12 to 14Mar 31, 2025 to Mar 30, 2026
- HNW clients · 34 to 27Mar 31, 2025 to Mar 30, 2026
- Pooled vehicle clients · 55 to 90Mar 31, 2025 to Mar 30, 2026
- Assets in custody · unset to 268000000.0Mar 31, 2025 to Mar 30, 2026
- Custody of client assets · false to trueMar 31, 2025 to Mar 30, 2026
- Employees · 19 to 22Mar 31, 2025 to Mar 30, 2026
- State-registered IARs · 0 to 1Mar 31, 2025 to Mar 30, 2026
- Other offices · 0 to 1Mar 31, 2025 to Mar 30, 2026
- Private funds · 56 to 90Mar 31, 2025 to Mar 30, 2026
- Discretionary RAUM · $798M to $1.2BMar 31, 2025 to Mar 30, 2026
- HNW RAUM · $900M to $1.1BMar 31, 2025 to Mar 30, 2026
- Individual RAUM · $0 to $2.0MMar 31, 2025 to Mar 30, 2026
- Non-discretionary RAUM · $900M to $1.1BMar 31, 2025 to Mar 30, 2026
- Pooled vehicle RAUM · $798M to $1.2BMar 31, 2025 to Mar 30, 2026
- RAUM · $1.7B to $2.3BMar 31, 2025 to Mar 30, 2026
- Accounts · 67 to 89Mar 28, 2024 to Mar 31, 2025
- Advisory employees · 11 to 12Mar 28, 2024 to Mar 31, 2025
- HNW clients · 32 to 34Mar 28, 2024 to Mar 31, 2025
- Pooled vehicle clients · 35 to 55Mar 28, 2024 to Mar 31, 2025
- Employees · 15 to 19Mar 28, 2024 to Mar 31, 2025
- Financial planning clients · 1-10 to 1-10Mar 28, 2024 to Mar 31, 2025
- Private funds · 35 to 56Mar 28, 2024 to Mar 31, 2025
- Discretionary RAUM · $707M to $798MMar 28, 2024 to Mar 31, 2025
- HNW RAUM · $769M to $900MMar 28, 2024 to Mar 31, 2025
- Non-discretionary RAUM · $769M to $900MMar 28, 2024 to Mar 31, 2025
- Pooled vehicle RAUM · $707M to $798MMar 28, 2024 to Mar 31, 2025
- RAUM · $1.5B to $1.7BMar 28, 2024 to Mar 31, 2025
- Accounts · 49 to 67Jun 7, 2023 to Mar 28, 2024
- Advisory employees · 9 to 11Jun 7, 2023 to Mar 28, 2024
- Advisory activities · 3 to 4Jun 7, 2023 to Mar 28, 2024
- BD registered reps · 2 to 6Jun 7, 2023 to Mar 28, 2024
- HNW clients · 19 to 32Jun 7, 2023 to Mar 28, 2024
- Pooled vehicle clients · 30 to 35Jun 7, 2023 to Mar 28, 2024
- Employees · 13 to 15Jun 7, 2023 to Mar 28, 2024
- Financial planning clients · 0 to 1-10Jun 7, 2023 to Mar 28, 2024
- Private funds · 30 to 35Jun 7, 2023 to Mar 28, 2024
Signals
11 dated events
- Belzberg & Co. reported RAUM $2.3B, up 37% from $1.7B (2025-03-31 to 2026-03-30)Mar 30, 2026 · RAUM change · derived
- Neill Pienaar (Cfo And Manager) appeared on Schedule A of Belzberg & Co.Mar 28, 2024 · Control person joined · fact
- Ryan Chan (Cfo And Manager) no longer on Schedule A of Belzberg & Co. (listed 2023-06-07, absent 2024-03-28)Mar 28, 2024 · Control person left · inference
- Belzberg & Co. reported RAUM $1.2B, up 52% from $792.5M (2022-11-01 to 2023-03-31)Mar 31, 2023 · RAUM change · derived
- Jay Wendy Belzberg (Shareholder) no longer on Schedule A of Belzberg & Co. (listed 2021-12-18, absent 2022-03-25)Mar 25, 2022 · Control person left · inference
- Nmn Lisa Belzberg (Shareholder) no longer on Schedule A of Belzberg & Co. (listed 2021-12-18, absent 2022-03-25)Mar 25, 2022 · Control person left · inference
- David Marc Belzberg (Shareholder) no longer on Schedule A of Belzberg & Co. (listed 2021-12-18, absent 2022-03-25)Mar 25, 2022 · Control person left · inference
- Ray Cheryl Tannenbaum Belzberg (Shareholder) no longer on Schedule A of Belzberg & Co. (listed 2021-12-18, absent 2022-03-25)Mar 25, 2022 · Control person left · inference
- Hightower Meredith Williams (Chief Compliance Officer And Vice President) no longer on Schedule A of Belzberg & Co. (listed 2021-07-26, absent 2021-12-18)Dec 18, 2021 · Control person left · inference
- Nmn Christos Theodoridis (Coo, General Counsel, And Cco) appeared on Schedule A of Belzberg & Co.Dec 18, 2021 · Control person joined · fact
- Belzberg Investments Llc filed its initial SEC registration (Form ADV)Jul 20, 2021 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- Belzberg & Co. · Independent Sponsorsshared crd · capital_provider
- Belzberg & Co. · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Business phone
- 212-390-9690reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 212-390-9767reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/belzberg-coreportedpublic record, Form ADV, Sep 17, 2026
- Firm profile
- linkedin.com/company/everbergcapitalreportedpublic record, Form ADV, Sep 17, 2026
- Website
- belzbergco.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 212-390-9768reportedpublic record, Form ADV, Sep 16, 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
- Wealth manager with institutional or fund businessderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $388Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026