DFX Intelligence

RIA Intelligence

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SEC-registered adviser

M••••••• P••••••• W••••• S••••••••• L••

Independent wealth managerSkokie, IllinoisCRD 319408SEC 801-123711website IAPD

Latest filing Mar 27, 2026

First filing on the tape Mar 15, 2022 · 14 filings

SEC status approved since Apr 15, 2022

RAUM

$179M

reported, Item 5.F

Discretionary

98%

of RAUM

Private clients

98%

$176M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$59.6M

derived; firm RAUM over IAPD count

Employees

3 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

14 filings and snapshots on the tape

RAUM$179M as of Mar 27, 2026

Feb 22, 2023$122M then

HNW client RAUM$122M as of Mar 27, 2026

Feb 22, 2023$35.5M then

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

Feb 22, 20233 then

Employees (5.A)4 as of Mar 27, 2026

Feb 22, 20233 then

Private funds: no history

RAUM +11% over the last fiscal year+14% a year over threeIARs 3 to 3offices 0 to 2

Practice profile

derived from the filing of Mar 27, 2026; every figure names its basis

Archetypes, each a printed rule

HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets

RAUM per advisor: $59.6MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 59derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $2.4MderivedHNW RAUM over HNW clients
Average account: $1.0MderivedRAUM over accounts (5.F.2.f)
Discretionary: 98%derivedof RAUM
Institutional: 1.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 1.3derivedItem 5.A over advisors
Advisors per office: 1.0derived3 offices incl. principal (1.F.5)
RAUM growth, one year: +11%derivedbetween the last two annual amendments
Advisor growth, one year: +0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year: -1.1%derived
Compensation: percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities: financial planning, portfolio management for individuals, pension consulting, selection of other advisersreportedItem 5.G
Wrap fee program: $179MreportedItem 5.I
Custody: yesreportedItem 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)

Where the RAUM sits

Form ADV Item 5.D, latest filing

High-net-worth individuals$122M68%
Individuals$53.4M30%
Pension and profit-sharing plans$3.0M1.7%
Charitable organizations$262,2750.1%

Individual clients: 124reported
HNW clients: 52reported
Pension plan clients: 1reported
Charitable clients: 1reported
Accounts: 178reported
Financial planning clients: 101-250reported
Wrap fee programs: $0 sponsored, $0 managedreported
Custody of client assets: $0 for 0 clientsreported
Compensation: % of AUM, fixed, hourlyreported
Class basis: private_client_share=0.98 fund_share=0.0 institutional_share=0.02 related_bd=false related_bank=false bd_reps=0.0derived

Advisors registered through the firm

3 on IAPD today, longest tenure first

Name	Branch	Here since	In industry	Prior firms
T•••••• C•••••••• P•••••••Certified Financial Planner	Skokie, Il	Apr 15, 2022	25 y	2
B•••••• N••••• M•••••••Certified Financial Planner	Skokie, Il	Apr 15, 2022	25 y	2
D•••••• S•••••• M•••••••	Skokie, Il	Apr 18, 2022	23 y	2

Advisor movement

0 left, 0 joined in 12 months

net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months

Left, latest

none on the tape

Joined, latest

D•••••• S•••••• M••••••• from R•••••• J•••• F•••••••• S••••••• A•••••••• I••
Apr 18, 2022 · Affiliated broker-dealer or bank to a newly registered adviser
T•••••• C•••••••• P••••••• from R•••••• J•••• F•••••••• S••••••• A•••••••• I••
Apr 15, 2022 · Affiliated broker-dealer or bank to a newly registered adviser
B•••••• N••••• M••••••• from R•••••• J•••• F•••••••• S••••••• A•••••••• I••
Apr 15, 2022 · Affiliated broker-dealer or bank to a newly registered adviser

Every departure Every arrival

Teams: two or more advisors moving together within fourteen days, from one state

3 joined from R•••••• J•••• F•••••••• S••••••• A•••••••• I••
May 9, 2022 · Skokie, Il

Teams out Teams in

Private funds

No private fund reported.

Owners and control persons

Schedule A and B, latest filing

M•••••••• B••••••• N••••• · Chief Executive Officer & Chief Compliance Officercontrol
since 02/2022 · owns less than 5%
M•••••••• D••••••• S•••••• · Managing Partnercontrol
since 10/2017 · owns 50% to 75%
P•••••••• T••••••• C•••••••• · Managing Partnercontrol
since 10/2017 · owns 50% to 75%

Related persons

Schedule D 7.A

No related person reported.

Office movement

IAPD branch city; joins and departures in 12 months

Office	Advisors	Joined	Left	Teams out	Forming
Skokie, Il · principal	3	0	0

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

ADV anomalies

3 against comparable advisers; where to look, not conclusions

account count collapseChange between filings · filing Mar 27, 2026
accounts (Item 5.F.2.f) moved from 645.0 to 178.0 (-72.0%) between the annual amendments of 2025-03-26 and 2026-03-27; the peer median change was +5.0% (3685 comparable advisers, 1.0th percentile of changes)
peers: independent wealth managers, $100M to $500M (3,685) · 0.8% percentile
compensation changedChange between filings · filing Mar 27, 2026
hourly charges (Item 5.E.2): no on the filing of 2025-11-18, yes on the filing of 2026-03-27
peers: independent wealth managers, $100M to $500M (5,678)
compensation changedChange between filings · filing Mar 27, 2026
commissions (Item 5.E.5): yes on the filing of 2025-11-18, no on the filing of 2026-03-27
peers: independent wealth managers, $100M to $500M (5,678)

How anomalies are measured

What changed

consecutive filings, newest first

Accounts · 645 to 178
Nov 18, 2025 to Mar 27, 2026
BD registered reps · 3 to 0
Nov 18, 2025 to Mar 27, 2026
Charity clients · unset to 1.0
Nov 18, 2025 to Mar 27, 2026
Individual clients · 126 to 124
Nov 18, 2025 to Mar 27, 2026
Pension plan clients · unset to 1.0
Nov 18, 2025 to Mar 27, 2026
Commission compensation · true to false
Nov 18, 2025 to Mar 27, 2026
Assets in custody · $13.0M to $0
Nov 18, 2025 to Mar 27, 2026
Other offices · 1 to 2
Nov 18, 2025 to Mar 27, 2026
Discretionary RAUM · $157M to $175M
Nov 18, 2025 to Mar 27, 2026
HNW RAUM · $112M to $122M
Nov 18, 2025 to Mar 27, 2026
Individual RAUM · $45.2M to $53.4M
Nov 18, 2025 to Mar 27, 2026
Non-discretionary RAUM · $4.3M to $4.4M
Nov 18, 2025 to Mar 27, 2026
Pension RAUM · $3.0M to $3.0M
Nov 18, 2025 to Mar 27, 2026
RAUM · $161M to $179M
Nov 18, 2025 to Mar 27, 2026
Other offices · 0 to 1
Mar 26, 2025 to Nov 18, 2025
Accounts · 525 to 645
Jul 29, 2024 to Mar 26, 2025
HNW clients · 46 to 52
Jul 29, 2024 to Mar 26, 2025
Individual clients · 121 to 126
Jul 29, 2024 to Mar 26, 2025
Assets in custody · $8.9M to $13.0M
Jul 29, 2024 to Mar 26, 2025
Financial planning clients · 101-250 to 101-250
Jul 29, 2024 to Mar 26, 2025
Discretionary RAUM · $129M to $157M
Jul 29, 2024 to Mar 26, 2025
HNW RAUM · $86.4M to $112M
Jul 29, 2024 to Mar 26, 2025
Individual RAUM · $42.0M to $45.2M
Jul 29, 2024 to Mar 26, 2025
Non-discretionary RAUM · $0 to $4.3M
Jul 29, 2024 to Mar 26, 2025
Pension RAUM · unset to 3036476.0
Jul 29, 2024 to Mar 26, 2025
RAUM · $129M to $161M
Jul 29, 2024 to Mar 26, 2025
Assets in custody · $132M to $8.9M
May 2, 2024 to Jul 29, 2024
Accounts · 436 to 525
Dec 5, 2023 to Mar 22, 2024
Advisory activities · 3 to 4
Dec 5, 2023 to Mar 22, 2024
BD registered reps · 0 to 3
Dec 5, 2023 to Mar 22, 2024
Corporate clients · 4.0 to unset
Dec 5, 2023 to Mar 22, 2024
HNW clients · 11 to 46
Dec 5, 2023 to Mar 22, 2024
Individual clients · 145 to 121
Dec 5, 2023 to Mar 22, 2024
Pension plan clients · 1.0 to unset
Dec 5, 2023 to Mar 22, 2024
Commission compensation · false to true
Dec 5, 2023 to Mar 22, 2024
Assets in custody · unset to 131979793.0
Dec 5, 2023 to Mar 22, 2024
Custody of client assets · false to true
Dec 5, 2023 to Mar 22, 2024
Employees · 3 to 4
Dec 5, 2023 to Mar 22, 2024
Discretionary RAUM · $121M to $129M
Dec 5, 2023 to Mar 22, 2024
HNW RAUM · $35.5M to $86.4M
Dec 5, 2023 to Mar 22, 2024

Signals

2 dated events

3 advisors left R•••••• J•••• F•••••••• S••••••• A•••••••• I•• (Skokie, IL) for M••••••• P••••••• W••••• S••••••••• L•• on the same day
May 9, 2022 · Team lift-out · derived
M••••••• P••••••• W••••• S••••••••• L•• filed its initial SEC registration (Form ADV)
Mar 15, 2022 · 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

Business email: p••••@m•••••••••.comreportedpublished by the firm, firm site, Sep 16, 2026
Business phone: 800-478-8062reportedpublished by the firm, firm site, Sep 16, 2026
Business phone: 847-983-0123reportedpublished by the firm, firm site, Sep 16, 2026
Website: m•••••••••.comreportedpublic record, Form ADV, Sep 21, 2026
Principal office phone: 847-983-0123reportedpublic record, Form ADV, Mar 27, 2026
Contact form: m•••••••••.comreportedpublished by the firm, firm site, 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: Independent wealth managerderiveda rule over Items 5.D and 7.A
RAUM per advisor: $59.6Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026