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

J•••••• I••••••••• M••••••••• L••

Institutional managerSan Rafael, CaliforniaCRD 323831SEC 801-126910websiteIAPD
Latest filing Mar 27, 2026
First filing on the tape Oct 20, 2022 · 8 filings
SEC status approved since Nov 21, 2022
RAUM
$1.0B
reported, Item 5.F
Discretionary
10%
of RAUM
Private clients
5.4%
$54.6M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
2
2 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
8 filings and snapshots on the tape
RAUM$1.0B as of Mar 27, 2026
Mar 22, 2023$496M then
HNW client RAUM$54.6M as of Mar 27, 2026
Mar 22, 2023$13.7M then
State-registered IARs (5.B.3)0 as of Mar 27, 2026
Mar 22, 20230 then
Employees (5.A)2 as of Mar 27, 2026
Mar 22, 20232 then
Private funds: no history
RAUM +10% over the last fiscal year+27% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 27, 2026; every figure names its basis
Archetypes, each a printed rule
  • Institutional asset manager · institutional share (pensions, government, insurance, corporations, charities, banks, other advisers) at least 60 percent and private-client share under 20 percent
  • PE backed · a Schedule A entity owner at 25 percent or more whose exact legal name is a PE fund vehicle or a classified PE sponsor on the DFX private equity graph
  • Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
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
$2.9MderivedHNW RAUM over HNW clients
Average account
$3.8MderivedRAUM over accounts (5.F.2.f)
Discretionary
10%derivedof RAUM
Institutional
94%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived2 offices incl. principal (1.F.5)
RAUM growth, one year
+10%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
-14%derived
Compensation
percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities
portfolio management for individuals, pension consultingreportedItem 5.G
Ownership
a PE fund or sponsor is a 25 percent or greater owner 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)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pension and profit-sharing plans$957M94%
  • High-net-worth individuals$54.6M5.4%
  • Corporations and businesses$1.5M0.1%
Individual clients
0reported
HNW clients
19reported
Pension plan clients
239reported
Charitable clients
0reported
Accounts
268reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.05 fund_share=0.0 institutional_share=0.94 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 departureEvery arrival
      Private funds
      No private fund reported.
      Owners and control persons
      Schedule A and B, latest filing
      • J••••••• N•••••••• A•••• · Vice Chairman, Vice President, Secretarycontrol
        since 09/2022 · owns less than 5%
      • J••••••• R•••••• A• · Chairman, President, Chief Compliance Officercontrol
        since 09/2022 · owns less than 5%
      Entity owners
      • H••••••••• L•• · Owner
        direct · owns 75% or more
      • H• S••••• H•••••••• I••• · Owner
        indirect · owns 25% to 50% of S•• R••••••••• S•••••••• L••
      • S•• R••••••••• S••••••• I•••••••• L•• · Owner
        indirect · owns 50% to 75% of S•• R••••••••• S•••••••• L••
      • S•• R••••••••• S•••••••• L•• · Owner
        indirect · owns 75% or more of S•• R• I••••••••• H•••••• L••
      • S•• R• I••••••••• H•••••• L•• · Owner
        indirect · owns 75% or more of H••••••••• L••
      • S•••• C•••••• B••••••• S••••••• P••••••• F••• I• L••• · Owner
        indirect · owns 75% or more of S•• R••••••••• S••••••• I•••••••• L••
      Related persons
      Schedule D 7.A
      No related person reported.
      Offices
      Schedule D 1.F, the 25 largest
      • Boulder, CO1 employees
      What changed
      consecutive filings, newest first
      • Accounts · 272 to 268
        Feb 1, 2025 to Mar 27, 2026
      • HNW clients · 22 to 19
        Feb 1, 2025 to Mar 27, 2026
      • Pension plan clients · 249 to 239
        Feb 1, 2025 to Mar 27, 2026
      • Discretionary RAUM · $90.4M to $104M
        Feb 1, 2025 to Mar 27, 2026
      • HNW RAUM · $62.4M to $54.6M
        Feb 1, 2025 to Mar 27, 2026
      • Non-discretionary RAUM · $829M to $909M
        Feb 1, 2025 to Mar 27, 2026
      • Pension RAUM · $855M to $957M
        Feb 1, 2025 to Mar 27, 2026
      • RAUM · $920M to $1.0B
        Feb 1, 2025 to Mar 27, 2026
      • Accounts · 226 to 272
        Aug 16, 2024 to Feb 1, 2025
      • HNW clients · 9 to 22
        Aug 16, 2024 to Feb 1, 2025
      • Pension plan clients · 204 to 249
        Aug 16, 2024 to Feb 1, 2025
      • Financial planning clients · unset to
        Aug 16, 2024 to Feb 1, 2025
      • Discretionary RAUM · $80.4M to $90.4M
        Aug 16, 2024 to Feb 1, 2025
      • HNW RAUM · $15.3M to $62.4M
        Aug 16, 2024 to Feb 1, 2025
      • Non-discretionary RAUM · $554M to $829M
        Aug 16, 2024 to Feb 1, 2025
      • Pension RAUM · $617M to $855M
        Aug 16, 2024 to Feb 1, 2025
      • RAUM · $634M to $920M
        Aug 16, 2024 to Feb 1, 2025
      • Accounts · 218 to 226
        Nov 17, 2023 to Mar 5, 2024
      • HNW clients · 8 to 9
        Nov 17, 2023 to Mar 5, 2024
      • Pension plan clients · 178 to 204
        Nov 17, 2023 to Mar 5, 2024
      • Discretionary RAUM · $66.4M to $80.4M
        Nov 17, 2023 to Mar 5, 2024
      • HNW RAUM · $13.7M to $15.3M
        Nov 17, 2023 to Mar 5, 2024
      • Non-discretionary RAUM · $430M to $554M
        Nov 17, 2023 to Mar 5, 2024
      • Pension RAUM · $482M to $617M
        Nov 17, 2023 to Mar 5, 2024
      • RAUM · $496M to $634M
        Nov 17, 2023 to Mar 5, 2024
      • Accounts · 206 to 218
        Oct 26, 2022 to Mar 22, 2023
      • HNW clients · 7 to 8
        Oct 26, 2022 to Mar 22, 2023
      • Pension plan clients · 169 to 178
        Oct 26, 2022 to Mar 22, 2023
      • Discretionary RAUM · $69.8M to $66.4M
        Oct 26, 2022 to Mar 22, 2023
      • HNW RAUM · $17.6M to $13.7M
        Oct 26, 2022 to Mar 22, 2023
      • Non-discretionary RAUM · $527M to $430M
        Oct 26, 2022 to Mar 22, 2023
      • Pension RAUM · $578M to $482M
        Oct 26, 2022 to Mar 22, 2023
      • RAUM · $597M to $496M
        Oct 26, 2022 to Mar 22, 2023
      • Succession · true to false
        Oct 20, 2022 to Oct 26, 2022
      Signals
      4 dated events
      • J•••••• I••••••••• M••••••••• L•• reported RAUM $919.7M, up 45% from $634.2M (2024-08-16 to 2025-02-01)
        Feb 1, 2025 · RAUM change · derived
      • J•••••• I••••••••• M••••••••• L•• reported RAUM $634.2M, up 28% from $496.2M (2023-11-17 to 2024-03-05)
        Mar 5, 2024 · RAUM change · derived
      • J•••••• I••••••••• M••••••••• L•• reported succeeding to the business of Another Adviser (Form ADV Item 4)
        Oct 20, 2022 · Succession (Item 4) · fact
      • J•••••• I••••••••• M••••••••• L•• filed its initial SEC registration (Form ADV)
        Oct 20, 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
      Website
      H•••••••••reportedpublic record, Form ADV, Sep 18, 2026
      Principal office phone
      415-256-1795reportedpublic 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
      Institutional managerderiveda 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