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Former SEC-registered adviser

S•••••••

Former SEC-registered adviserChicago, IllinoisCRD 317207SEC 801-132954websiteIAPD
Legal name S••••••••• P••••••• L•
Latest filing Mar 12, 2026
First filing on the tape Jun 2, 2025 · 2 filings
SEC status approved since Jun 11, 2025
RAUM
$91.6M
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
5
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
reported on Schedule D
History
2 filings and snapshots on the tape
RAUM$91.6M as of Mar 12, 2026
Jun 2, 2025$120M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 12, 2026
Jun 2, 20250 then
Employees (5.A)5 as of Mar 12, 2026
Jun 2, 202510 then
Private funds3 as of Mar 12, 2026
Jun 2, 20252 then
RAUM n/a over the last fiscal year
Practice profile
derived from the filing of Mar 12, 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
$30.5MderivedRAUM 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
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 pooled vehiclesreportedItem 5.G
Custody
$91.6M, 3 clientsreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$91.6M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
3reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$91.6M for 3 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
      2 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      S•••••••• M••••• L•Private Equity Fund$103M64Dec 20, 2021
      M•••••••• O••• L•Hedge Fund$20.9M51Dec 20, 2021
      Owners and control persons
      Schedule A and B, latest filing
      No Schedule A on the extract for this adviser.
      Related persons
      Schedule D 7.A
      No related person reported.
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Accounts · 2 to 3
        Jun 2, 2025 to Mar 12, 2026
      • Advisory employees · 5 to 4
        Jun 2, 2025 to Mar 12, 2026
      • Pooled vehicle clients · 2 to 3
        Jun 2, 2025 to Mar 12, 2026
      • Assets in custody · $120M to $91.6M
        Jun 2, 2025 to Mar 12, 2026
      • Employees · 10 to 5
        Jun 2, 2025 to Mar 12, 2026
      • Private funds · 2 to 3
        Jun 2, 2025 to Mar 12, 2026
      • Discretionary RAUM · $120M to $91.6M
        Jun 2, 2025 to Mar 12, 2026
      • Pooled vehicle RAUM · $120M to $91.6M
        Jun 2, 2025 to Mar 12, 2026
      • RAUM · $120M to $91.6M
        Jun 2, 2025 to Mar 12, 2026
      Signals
      1 dated events
      • Sfermion no longer on the SEC adviser roster (last listed 2026-04-01, RAUM $91.6M)
        May 1, 2026 · Left the SEC roster · derived
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Website
      sfermion.ioreportedpublic record, Form ADV, Sep 21, 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
      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