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
S••••• L••• C••••••• L••
Latest filing Jul 16, 2026
First filing on the tape Mar 29, 2023 · 11 filings
SEC status approved since Sep 19, 2023
RAUM
$1.3B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
50%
$666M individuals and HNW
Advisors
24
registered through the firm on IAPD
RAUM per advisor
$55.2M
derived; firm RAUM over IAPD count
Employees
28
24 advisory (5.B.1)
Offices
4
beyond the principal office
Private funds
0
reported on Schedule D
History
11 filings and snapshots on the tape
RAUM$1.3B as of Jul 16, 2026
Mar 29, 2024$402M then
HNW client RAUM$483M as of Jul 16, 2026
Mar 29, 2024$218M then
State-registered IARs (5.B.3)24 as of Jul 16, 2026
Mar 29, 202414 then
Employees (5.A)28 as of Jul 16, 2026
Mar 29, 202417 then
Private funds: no history
RAUM +83% over the last fiscal yearIARs 21 to 24
Practice profile
derived from the filing of Jul 16, 2026; every figure names its basis
Archetypes, each a printed rule
- Dual wealth and asset manager · private-client share 20 to 60 percent and fund or institutional share at least 30 percent
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
- RAUM per advisor
- $55.2MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 47derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.7MderivedHNW RAUM over HNW clients
- Average account
- $1.1MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 49%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.2derivedItem 5.A over advisors
- Advisors per office
- 4.8derived5 offices incl. principal (1.F.5)
- RAUM growth, one year
- +83%derivedbetween the last two annual amendments
- Advisor growth, one year
- +14%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -10.0%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 5.G
- Wrap fee program
- $1.3BreportedItem 5.I
- 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
- is an insurance broker or agent (6.A.6)
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pension and profit-sharing plans$652M49%
- High-net-worth individuals$483M36%
- Individuals$184M14%
- Corporations and businesses$5.2M0.4%
- Charitable organizations$533,5650.0%
- Individual clients
- 850reported
- HNW clients
- 277reported
- Pension plan clients
- 62reported
- Charitable clients
- n/areported
- Accounts
- 1,199reported
- Financial planning clients
- 51-100reported
- Wrap fee programs
- $0 sponsored, $0 managedreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.5 fund_share=0.0 institutional_share=0.49 related_bd=false related_bank=false bd_reps=4.0derived
Advisors registered through the firm
24 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| P•••• L•••• S•• M•••••Certified Financial Planner | Metairie, La | May 18, 2023 | 12 y | 4 |
| A••••• A••• R••••• | Metairie, La | May 18, 2023 | 11 y | 2 |
| S•••••• B•••••• B••••• | Metairie, La | May 18, 2023 | 26 y | 3 |
| P• D•••• S•••••• | Metairie, La | May 18, 2023 | 18 y | 4 |
| J••• B••••••• | Metairie, La | May 18, 2023 | 11 y | 2 |
| R••••• V••••••• B•••• | Gretna, La | May 18, 2023 | 43 y | 4 |
| C••••• H••• D••••••••Certified Financial Planner | Metairie, La | May 18, 2023 | 11 y | 1 |
| T•••••• K••• A•••• | Metairie, La | May 18, 2023 | 18 y | 5 |
| J•••• A• D•••••••• | Metairie, La | May 18, 2023 | 18 y | 3 |
| J•••• B•••• M••••• | Metairie, La | May 18, 2023 | 11 y | 1 |
| A•••• G••••• H•••••••• | Metairie, La | May 22, 2023 | 29 y | 4 |
| D••••• M• A••••••Certified Financial Planner | Metairie, La | May 22, 2023 | 16 y | 2 |
| B••••••• S•••••• B••••• | Metairie, La | Jun 2, 2023 | 20 y | 5 |
| J••• R••••• A•••••• | Metairie, La | Jun 19, 2023 | 35 y | 2 |
| B•••• G••••• M•••• | Metairie, La | Jun 19, 2023 | 33 y | 2 |
| J••••• B•••• A•••••• | Metairie, La | Sep 1, 2023 | 10 y | 1 |
| J••••• T••••••• R••••• | Metairie, La | Mar 4, 2024 | 19 y | 3 |
| M•••••• D•••• S•• M••••• | Metairie, La | Apr 3, 2024 | 12 y | 0 |
| J••••• H•••••• C••••••Certified Financial Planner | Duncan, Ok | Jan 2, 2025 | 34 y | 8 |
| C••••••••• D•••• W•••• | Metairie, La | Mar 18, 2025 | 20 y | 0 |
| B••••• C•••••• M•••• | Metairie, La | Apr 2, 2025 | 19 y | 2 |
| K••• H•••••• C•••••• | Duncan, Ok | Feb 25, 2026 | 10 y | 0 |
| D••••• P• T••••• | Covington, La | Mar 16, 2026 | 11 y | 2 |
| K••••• M•••••• | Metairie, La | Mar 25, 2026 | 19 y | 2 |
Advisor movement
0 left, 2 joined in 12 months
net +2 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
- K••••• M•••••• from J••• M••••• S••••••••• L••Mar 25, 2026 · Wirehouse to independent RIA
- D••••• P• T••••• from C•••••••• I••••••••• R••••••• A•••••••• I•••Mar 16, 2026 · Affiliated broker-dealer or bank to independent RIA
- B••••• C•••••• M•••• from C••••• I••••••••• A••••••• L••Apr 2, 2025 · Affiliated broker-dealer or bank to independent RIA
- J••••• H•••••• C•••••• from T••••• F•••••••• G••••• I••Jan 2, 2025 · RIA to RIA
- J••••• T••••••• R••••• from A••••••••• F•••••••• S•••••••• L••Mar 4, 2024 · Affiliated broker-dealer or bank to independent RIA
- J••••• B•••• A•••••• from E••••• J••••Sep 1, 2023 · Affiliated broker-dealer or bank to a newly registered adviser
- B•••• G••••• M•••• from A•••••• R••••••• C••••••Jun 19, 2023 · RIA to a newly registered adviser
- J••• R••••• A•••••• from A•••••• R••••••• C••••••Jun 19, 2023 · RIA to a newly registered adviser
- B••••••• S•••••• B••••• from A•••••• R••••••• C••••••Jun 2, 2023 · RIA to a newly registered adviser
- A•••• G••••• H•••••••• from A•••••• R••••••• C••••••May 22, 2023 · RIA to a newly registered adviser
- D••••• M• A•••••• from A•••••• R••••••• C••••••May 22, 2023 · RIA to a newly registered adviser
- P• D•••• S•••••• from A•••••• R••••••• C••••••May 18, 2023 · RIA to a newly registered adviser
- T•••••• K••• A•••• from A•••••• R••••••• C••••••May 18, 2023 · RIA to a newly registered adviser
- J•••• A• D•••••••• from A•••••• R••••••• C••••••May 18, 2023 · RIA to a newly registered adviser
- J•••• B•••• M••••• from A•••••• R••••••• C••••••May 18, 2023 · RIA to a newly registered adviser
Teams: two or more advisors moving together within fourteen days, from one state
- 3 joined from A•••••• R••••••• C••••••May 18, 2023 · Metairie, La
- 10 joined from A•••••• R••••••• C••••••May 18, 2023 · Dallas, Tx
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- B•••••••• J••• · Ceo, Membercontrolsince 04/2023 · owns 10% to 25%
- S••••••• P• D•••• · Chief Compliance Officer, President, Chairman And Membercontrolsince 04/2023 · owns 10% to 25%
- B•••••••• J••• · Membercontrolsince 02/2023 · owns 25% to 50% of F••••••• P•••••• W••••• L••
- S••••••• P• D•••• · Membercontrolsince 03/2015 · owns 25% to 50% of F••••••• P•••••• W••••• L••
Entity owners
- F••••••• P•••••• W••••• L•• · Ownerdirect · owns 75% or more
- F•••• L••• C•••••• L•• · Ownerdirect · owns 75% or more
Related persons
Schedule D 7.A
- S••••• L••• H•••••••• L••real estatey
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Metairie, La · principal | 23 | 3 | 0 | ||
| Covington, La | 2 | 1 | 0 | ||
| Duncan, Ok | 2 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Covington, LA4 employees
- Metairie, LA1 employees
- , 1 employees
ADV anomalies
5 against comparable advisers; where to look, not conclusions
- wealth to institutional shiftCombination · filing Mar 31, 2026private-client share fell 15 points or more while institutional share rose 15 points or more. RAUM $723,038,061 to $1,324,089,165, advisors 21 to 24, private clients 1252 to 1127, offices 4 to 4 (2025-03-27 to 2026-03-31)peers: independent wealth managers, $1B to $5B (1,362)
- RAUM up 50 %Change between filings · filing Mar 31, 2026RAUM (Item 5.F) moved from $723,038,061 to $1,324,089,165 (+83.0%) between the annual amendments of 2025-03-27 and 2026-03-31; the peer median change was +17.0% (1298 comparable advisers, 97.0th percentile of changes)peers: independent wealth managers, $1B to $5B (1,298) · 97% percentile
- institutional asset share shiftChange between filings · filing Mar 31, 2026institutional share of RAUM moved from 29.0% to 50.0% between the annual amendments of 2025-03-27 and 2026-03-31peers: independent wealth managers, $1B to $5B (1,362)
- client mix shiftChange between filings · filing Mar 31, 2026private-client share of RAUM moved from 71.0% to 50.0% between the annual amendments of 2025-03-27 and 2026-03-31peers: independent wealth managers, $1B to $5B (1,362)
- account count collapseChange between filings · filing Mar 31, 2026accounts (Item 5.F.2.f) moved from 2,502.0 to 1,199.0 (-52.0%) between the annual amendments of 2025-03-27 and 2026-03-31; the peer median change was +6.0% (1206 comparable advisers, 2.0th percentile of changes)peers: independent wealth managers, $1B to $5B (1,206) · 1.7% percentile
What changed
consecutive filings, newest first
- Accounts · 2,502 to 1,199Mar 27, 2025 to Mar 31, 2026
- Advisory employees · 21 to 24Mar 27, 2025 to Mar 31, 2026
- Charity clients · 3.0 to unsetMar 27, 2025 to Mar 31, 2026
- Corporate clients · 43 to 7Mar 27, 2025 to Mar 31, 2026
- HNW clients · 279 to 277Mar 27, 2025 to Mar 31, 2026
- Individual clients · 973 to 850Mar 27, 2025 to Mar 31, 2026
- Pension plan clients · 80 to 62Mar 27, 2025 to Mar 31, 2026
- Pooled vehicle clients · 0.0 to unsetMar 27, 2025 to Mar 31, 2026
- Employees · 23 to 28Mar 27, 2025 to Mar 31, 2026
- State-registered IARs · 21 to 24Mar 27, 2025 to Mar 31, 2026
- Discretionary RAUM · $723M to $1.3BMar 27, 2025 to Mar 31, 2026
- HNW RAUM · $321M to $483MMar 27, 2025 to Mar 31, 2026
- Individual RAUM · $189M to $184MMar 27, 2025 to Mar 31, 2026
- Pension RAUM · $172M to $652MMar 27, 2025 to Mar 31, 2026
- Pooled vehicle RAUM · 0.0 to unsetMar 27, 2025 to Mar 31, 2026
- RAUM · $723M to $1.3BMar 27, 2025 to Mar 31, 2026
- Accounts · 1,911 to 2,502Jan 2, 2025 to Mar 27, 2025
- Advisory employees · 14 to 21Jan 2, 2025 to Mar 27, 2025
- BD registered reps · 14 to 4Jan 2, 2025 to Mar 27, 2025
- Charity clients · 4 to 3Jan 2, 2025 to Mar 27, 2025
- Corporate clients · 8 to 43Jan 2, 2025 to Mar 27, 2025
- HNW clients · 243 to 279Jan 2, 2025 to Mar 27, 2025
- Individual clients · 812 to 973Jan 2, 2025 to Mar 27, 2025
- Pension plan clients · 2 to 80Jan 2, 2025 to Mar 27, 2025
- Employees · 17 to 23Jan 2, 2025 to Mar 27, 2025
- Financial planning clients · 26-50 to 51-100Jan 2, 2025 to Mar 27, 2025
- State-registered IARs · 14 to 21Jan 2, 2025 to Mar 27, 2025
- Other offices · 3 to 4Jan 2, 2025 to Mar 27, 2025
- Discretionary RAUM · $402M to $723MJan 2, 2025 to Mar 27, 2025
- HNW RAUM · $218M to $321MJan 2, 2025 to Mar 27, 2025
- Individual RAUM · $181M to $189MJan 2, 2025 to Mar 27, 2025
- Pension RAUM · $298,606 to $172MJan 2, 2025 to Mar 27, 2025
- RAUM · $402M to $723MJan 2, 2025 to Mar 27, 2025
- Accounts · 1,485 to 1,911Nov 28, 2023 to Mar 29, 2024
- Charity clients · unset to 4.0Nov 28, 2023 to Mar 29, 2024
- Corporate clients · 7 to 8Nov 28, 2023 to Mar 29, 2024
- HNW clients · 199 to 243Nov 28, 2023 to Mar 29, 2024
- Individual clients · 605 to 812Nov 28, 2023 to Mar 29, 2024
- Pension plan clients · 0 to 2Nov 28, 2023 to Mar 29, 2024
- Financial planning clients · 0 to 26-50Nov 28, 2023 to Mar 29, 2024
Signals
10 dated events
- S••••• L••• C••••••• L•• reported RAUM $1.3B, up 83% from $723.0M (2025-03-27 to 2026-03-31)Mar 31, 2026 · RAUM change · derived
- S••••• L••• C••••••• L•• reported RAUM $723.0M, up 80% from $402.1M (2025-01-02 to 2025-03-27)Mar 27, 2025 · RAUM change · derived
- S••••• L••• C••••••• L•• reported RAUM $402.1M, up 44% from $279.9M (2023-11-28 to 2024-03-29)Mar 29, 2024 · RAUM change · derived
- 9 advisors left A•••••• R••••••• C•••••• (Dallas, TX) for S••••• L••• C••••••• L•• within 13 daysMay 18, 2023 · Team lift-out · derived
- 4 advisors left A•••••• R••••••• C•••••• (Metairie, LA) for S••••• L••• C••••••• L•• on the same dayMay 18, 2023 · Team lift-out · derived
- D•••• P Soliman (Chief Compliance Officer, President, Chairman And Member) appeared on Schedule A of S••••• L••• C••••••• L••Apr 7, 2023 · Control person joined · fact
- J••• B••••••• (Member) appeared on Schedule A of S••••• L••• C••••••• L••Apr 7, 2023 · Control person joined · fact
- S••••• L••• C••••••• L•• reported 14 state-registered advisory representatives, up from 0 (2023-03-29 to 2023-04-07)Apr 7, 2023 · ria a•••••• headcount change · derived
- Adam Daniel Bernstein (Chief Compliance Officer) no longer on Schedule A of S••••• L••• C••••••• L•• (listed 2023-03-29, absent 2023-04-07)Apr 7, 2023 · Control person left · inference
- E••••••• A•••••••• L•• filed its initial SEC registration (Form ADV)Mar 29, 2023 · ria f•••• adv filing · 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 phone
- 504-259-3221reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 504-321-6965reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 504-321-0923reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/secondlinecapitalreportedpublic record, Form ADV, Sep 19, 2026
- Firm profile
- linkedin.com/company/faubourgwealthreportedpublic record, Form ADV, Sep 19, 2026
- Website
- secondlinecapital.comreportedpublic record, Form ADV, Sep 19, 2026
- Principal office phone
- 504-321-0923reportedpublic record, Form ADV, Jul 16, 2026
- Contact form
- secondlinecapital.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- secondlinecapital.com/our-peoplereportedpublished by the firm, firm site, Sep 15, 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
- $55.2Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026