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
X•• M••••••••• L••
Latest filing Apr 30, 2026
First filing on the tape Jul 14, 2025 · 4 filings
SEC status approved since Jul 30, 2025
RAUM
$194M
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
17
14 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
8
reported on Schedule D
History
4 filings and snapshots on the tape
RAUM$194M as of Apr 30, 2026
Jul 14, 2025$144M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Apr 30, 2026
Jul 14, 20250 then
Employees (5.A)17 as of Apr 30, 2026
Jul 14, 202517 then
Private funds8 as of Apr 30, 2026
Jul 14, 20257 then
RAUM n/a over the last fiscal year
Practice profile
derived from the filing of Apr 30, 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
- $21.5MderivedRAUM 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
- 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
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$194M100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 9reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $0 for 0 clientsreported
- Compensation
- % of AUM, performancereported
- 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
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
Entity owners
- X• F•••••••• I•• · Managing Member Operationsdirect · owns 75% or more
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
- Discretionary RAUM · $194M to $194MMar 27, 2026 to Apr 30, 2026
- Pooled vehicle RAUM · $194M to $194MMar 27, 2026 to Apr 30, 2026
- RAUM · $194M to $194MMar 27, 2026 to Apr 30, 2026
- Accounts · 8 to 9Nov 12, 2025 to Mar 27, 2026
- Pooled vehicle clients · 8 to 9Nov 12, 2025 to Mar 27, 2026
- HQ city · BEL AIR to EL SEGUNDONov 12, 2025 to Mar 27, 2026
- Private funds · 7 to 8Nov 12, 2025 to Mar 27, 2026
- Discretionary RAUM · $144M to $194MNov 12, 2025 to Mar 27, 2026
- Pooled vehicle RAUM · $144M to $194MNov 12, 2025 to Mar 27, 2026
- RAUM · $144M to $194MNov 12, 2025 to Mar 27, 2026
- Financial planning clients · 0 to 0Jul 14, 2025 to Nov 12, 2025
Signals
No event on the tape.
Across DFX
shared identifiers only, never a name match
- X•• M••••••••• L•• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Website
- xand.vcreportedpublic record, Form ADV, Sep 19, 2026
- Principal office phone
- 626-616-2017reportedpublic record, Form ADV, Apr 30, 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