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

Masterworks Advisers, LLC

Independent wealth managerNew York, New YorkCRD 324239SEC 801-127158websiteIAPD
Latest filing Jul 29, 2026
First filing on the tape Dec 9, 2022 · 20 filings
SEC status approved since Sep 7, 2023
RAUM
$8.1M
reported, Item 5.F
Discretionary
6.3%
of RAUM
Private clients
100%
$8.1M individuals and HNW
Advisors
13
registered through the firm on IAPD
RAUM per advisor
$620,305
derived; firm RAUM over IAPD count
Employees
13
13 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
20 filings and snapshots on the tape
RAUM$8.1M as of Jul 29, 2026
Mar 28, 2023$0 then
HNW client RAUM$5.7M as of Jul 29, 2026
Mar 28, 2023$0 then
State-registered IARs (5.B.3)13 as of Jul 29, 2026
Mar 28, 20230 then
Employees (5.A)13 as of Jul 29, 2026
Mar 28, 20231 then
Private funds: no history
RAUM -74% over the last fiscal yearIARs 18 to 13
Practice profile
derived from the filing of Jul 29, 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
RAUM per advisor
$620,305derivedRAUM over IAPD advisors; not a book size
Clients per advisor
80derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$21,012derivedHNW RAUM over HNW clients
Average account
$7,717derivedRAUM over accounts (5.F.2.f)
Discretionary
6.3%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.0derivedItem 5.A over advisors
Advisors per office
13.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
-74%derivedbetween the last two annual amendments
Advisor growth, one year
-28%derivedItem 5.B.3 between annual amendments
Client growth, one year
+67%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for pooled vehiclesreportedItem 5.G
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)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$5.7M70%
  • Individuals$2.4M30%
Individual clients
775reported
HNW clients
270reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
1,045reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixedreported
Class basis
private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
13 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Candy Denise MilesNew York, NyJun 23, 202312 y1
Michael Donlan DelpozzoNew York, NyJun 23, 202333 y2
Kevin Edward CoxNew York, NyJun 23, 202321 y3
Connor Douglas LeavellNew York, NyJun 23, 202313 y1
Daniel Joseph DelaneyNew York, NyJun 23, 202310 y1
Erik G BringsjordStamford, Ct Jun 23, 202313 y2
Michael Douglas StrangNew York, NyJun 26, 202311 y1
Henry Edmund PeelleNew York, NyDec 7, 202314 y0
Christopher Charles WhiteNew York, NyFeb 5, 202412 y0
Abraham LucianoNew York, NyJun 11, 202413 y0
Anisha Kiran MittalNew York, NyAug 28, 202510 y0
James Albert CifelliNew York, NyMar 3, 202611 y0
Daniel J BussiculoNew York, NyJun 1, 202619 y1
Advisor movement
1 left, 1 joined in 12 months
net 0 in 12 months1 left in 90 days0 joined in 90 daysdeparture rate 7.7% of current headcount13 left over 36 months
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • Scott Lynn · Investment Adviser To The Trustcontrol
      since 08/2015 · owns F of Lynn Family Trust 001 (F/K/A James William Lynn, Jr. 2015 Trust)
    • Mohammed Tofique Elder · Head Of Finance
      since 11/2024 · owns less than 5%
    • Nathan Krasnick · Portfolio Manager
      since 03/2024 · owns less than 5%
    • Jennifer Moxon · Chief Compliance Officer
      since 05/2023 · owns less than 5%
    • Bridges Gabriel Zinn · Head Of Advisory
      since 09/2023 · owns less than 5%
    Entity owners
    • Masterworks Investor Services, LLC · Member - Ordinary Membership Interests
      direct · owns 75% or more
    • Lynn Family Trust 001 (F/K/A James William Lynn, Jr. 2015 Trust) · Shareholder
      indirect · owns 75% or more of Masterworks, LLC
    • Masterworks, LLC · Member
      indirect · owns 75% or more of Masterworks Investor Services, LLC
    • Commonwealth Trust Company · Trustee
      indirect · owns F of Lynn Family Trust 001 (F/K/A James William Lynn, Jr. 2015 Trust)
    Related persons
    Schedule D 7.A
    • Masterworks Administrative Services, LLC
      pooled vehicle sponsorn
    • Masterworks Diversified Art Portfolio Gp, LLC
      pooled vehicle sponsorn
    • Masterworks, LLC
      y
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    New York, Ny · principal1321
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    ADV anomalies
    2 against comparable advisers; where to look, not conclusions
    • account count surgeChange between filings · filing Mar 30, 2026
      accounts (Item 5.F.2.f) moved from 626.0 to 1,045.0 (+67.0%) between the annual amendments of 2025-04-02 and 2026-03-30; the peer median change was +2.0% (136 comparable advisers, 93.0th percentile of changes)
      peers: independent wealth managers, under $100M (136) · 93% percentile
    • client count surgeChange between filings · filing Mar 30, 2026
      individual and HNW clients (Item 5.D) moved from 625.0 to 1,045.0 (+67.0%) between the annual amendments of 2025-04-02 and 2026-03-30; the peer median change was 0.0% (120 comparable advisers, 96.0th percentile of changes)
      peers: independent wealth managers, under $100M (120) · 96% percentile
    How anomalies are measured
    What changed
    consecutive filings, newest first
    • Accounts · 625 to 1,045
      Jan 8, 2026 to Mar 30, 2026
    • Advisory employees · 17 to 13
      Jan 8, 2026 to Mar 30, 2026
    • Advisory activities · 1 to 2
      Jan 8, 2026 to Mar 30, 2026
    • HNW clients · 123 to 270
      Jan 8, 2026 to Mar 30, 2026
    • Individual clients · 502 to 775
      Jan 8, 2026 to Mar 30, 2026
    • Employees · 19 to 13
      Jan 8, 2026 to Mar 30, 2026
    • State-registered IARs · 18 to 13
      Jan 8, 2026 to Mar 30, 2026
    • Discretionary RAUM · $250,980 to $507,638
      Jan 8, 2026 to Mar 30, 2026
    • HNW RAUM · $1.3M to $5.7M
      Jan 8, 2026 to Mar 30, 2026
    • Individual RAUM · $732,879 to $2.4M
      Jan 8, 2026 to Mar 30, 2026
    • Non-discretionary RAUM · $1.7M to $7.6M
      Jan 8, 2026 to Mar 30, 2026
    • RAUM · $2.0M to $8.1M
      Jan 8, 2026 to Mar 30, 2026
    • Accounts · 626 to 625
      Apr 2, 2025 to Sep 19, 2025
    • Advisory activities · 2 to 1
      Apr 2, 2025 to Sep 19, 2025
    • Pooled vehicle clients · 1.0 to unset
      Apr 2, 2025 to Sep 19, 2025
    • Financial planning clients · 0 to 0
      Apr 2, 2025 to Sep 19, 2025
    • Discretionary RAUM · $29.4M to $250,980
      Apr 2, 2025 to Sep 19, 2025
    • Pooled vehicle RAUM · 29104794.0 to unset
      Apr 2, 2025 to Sep 19, 2025
    • RAUM · $31.1M to $2.0M
      Apr 2, 2025 to Sep 19, 2025
    • Accounts · 438 to 626
      Dec 5, 2024 to Apr 2, 2025
    • Advisory employees · 20 to 17
      Dec 5, 2024 to Apr 2, 2025
    • HNW clients · 42 to 123
      Dec 5, 2024 to Apr 2, 2025
    • Individual clients · 395 to 502
      Dec 5, 2024 to Apr 2, 2025
    • Employees · 40 to 19
      Dec 5, 2024 to Apr 2, 2025
    • State-registered IARs · 33 to 18
      Dec 5, 2024 to Apr 2, 2025
    • Discretionary RAUM · $30.5M to $29.4M
      Dec 5, 2024 to Apr 2, 2025
    • HNW RAUM · $2.6M to $1.3M
      Dec 5, 2024 to Apr 2, 2025
    • Individual RAUM · $4.1M to $732,879
      Dec 5, 2024 to Apr 2, 2025
    • Non-discretionary RAUM · $6.7M to $1.7M
      Dec 5, 2024 to Apr 2, 2025
    • Pooled vehicle RAUM · $30.5M to $29.1M
      Dec 5, 2024 to Apr 2, 2025
    • RAUM · $37.2M to $31.1M
      Dec 5, 2024 to Apr 2, 2025
    • Accounts · 1 to 438
      Dec 4, 2023 to Mar 29, 2024
    • Advisory employees · 32 to 20
      Dec 4, 2023 to Mar 29, 2024
    • Advisory activities · 4 to 2
      Dec 4, 2023 to Mar 29, 2024
    • HNW clients · 0 to 42
      Dec 4, 2023 to Mar 29, 2024
    • Individual clients · 477 to 395
      Dec 4, 2023 to Mar 29, 2024
    • Custody of client assets · true to false
      Dec 4, 2023 to Mar 29, 2024
    • Employees · 32 to 40
      Dec 4, 2023 to Mar 29, 2024
    • State-registered IARs · 32 to 33
      Dec 4, 2023 to Mar 29, 2024
    • Discretionary RAUM · $18.9M to $30.5M
      Dec 4, 2023 to Mar 29, 2024
    Signals
    21 dated events
    • Evan Cristofer Mcmann left Masterworks Advisers, Llc for Raymond James Financial Services Advisors, Inc (registered 2026-08-13)
      Jun 29, 2026 · Advisor changed firm · fact
    • Masterworks Advisers, Llc reported 18 state-registered advisory representatives, down from 33 (2024-12-05 to 2025-04-02)
      Apr 2, 2025 · Advisor headcount change · derived
    • Alec Michael Mckenna left Masterworks Advisers, Llc for Gables Capital Management, Inc. (registered 2025-01-14)
      Sep 23, 2024 · Advisor changed firm · fact
    • Robert Fredricks Epes left Masterworks Advisers, Llc for Retirable (registered 2026-01-27)
      Sep 23, 2024 · Advisor changed firm · fact
    • Dennis Oleg Abramov left Masterworks Advisers, Llc for Fisher Investments (registered 2024-10-21)
      Sep 23, 2024 · Advisor changed firm · fact
    • Serge Akopyan left Masterworks Advisers, Llc for Fidelity Personal And Workplace Advisors (registered 2024-10-07)
      Sep 11, 2024 · Advisor changed firm · fact
    • Chad Justin Minick left Masterworks Advisers, Llc for Wells Fargo Advisors (registered 2025-08-19)
      Sep 10, 2024 · Advisor changed firm · fact
    • Alexander Earl Kaye left Masterworks Advisers, Llc for Ubs Financial Services Inc. (registered 2024-10-10)
      Jul 26, 2024 · Advisor changed firm · fact
    • Joseph Michael Scutts left Masterworks Advisers, Llc for Edward Jones (registered 2024-05-10)
      Jun 11, 2024 · Advisor changed firm · fact
    • Andrei Emanuel Petre left Masterworks Advisers, Llc for Orion Portfolio Solutions, Llc (registered 2024-10-23)
      Mar 21, 2024 · Advisor changed firm · fact
    • Sanchit Sharma left Masterworks Advisers, Llc for Fidelity Personal And Workplace Advisors (registered 2024-10-01)
      Feb 28, 2024 · Advisor changed firm · fact
    • Austin Tanner left Masterworks Advisers, Llc for J.P. Morgan Securities Llc (registered 2024-04-15)
      Feb 28, 2024 · Advisor changed firm · fact
    • Griffin W Morgan left Masterworks Advisers, Llc for Lido (registered 2024-05-14)
      Dec 1, 2023 · Advisor changed firm · fact
    • Matthew Eric Stockburger left Masterworks Advisers, Llc for Q3 Advisors, Llc (registered 2024-04-10)
      Dec 1, 2023 · Advisor changed firm · fact
    • Stuart Nigel Glenday (Chief Executive Officer And Chief Financial Officer) no longer on Schedule A of Masterworks Advisers, Llc (listed 2023-07-25, absent 2023-10-18)
      Oct 18, 2023 · Control person left · inference
    • Ben Joshua Goldstein (Chief Legal Officer) no longer on Schedule A of Masterworks Advisers, Llc (listed 2023-07-25, absent 2023-10-18)
      Oct 18, 2023 · Control person left · inference
    • Hunter Christian Ager left Masterworks Advisers, Llc for Goldman Sachs Wealth Services, L.P. (registered 2023-08-22)
      Aug 4, 2023 · Advisor changed firm · fact
    • 3 advisors left Arete Wealth Advisors, LLC (Chicago, IL) for Masterworks Advisers, LLC within 4 days
      Jun 29, 2023 · Team lift-out · derived
    • 11 advisors left Arete Wealth Advisors, LLC (New York, NY) for Masterworks Advisers, LLC within 7 days
      Jun 29, 2023 · Team lift-out · derived
    • Masterworks Advisers, Llc reported 32 state-registered advisory representatives, up from 0 (2023-03-28 to 2023-06-23)
      Jun 23, 2023 · Advisor headcount change · derived
    • Masterworks Advisers, Llc filed its initial SEC registration (Form ADV)
      Dec 9, 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
    masterworks.com/vipreportedpublic record, Form ADV, Sep 18, 2026
    Principal office phone
    203-518-5172reportedpublic record, Form ADV, Jul 29, 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
    $620,305derivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026