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.

Former SEC-registered adviser

Hefren-Tillotson, Inc.

Former SEC-registered adviserPittsburgh, PennsylvaniaCRD 53SEC 801-55083IAPD
Latest filing Jun 6, 2022
First filing on the tape Dec 9, 2011 · 46 filings
RAUM
$12B
reported, Item 5.F
Discretionary
57%
of RAUM
Private clients
97%
$12B individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
273
107 advisory (5.B.1)
Offices
6
beyond the principal office
Private funds
0
reported on Schedule D
History
46 filings and snapshots on the tape
RAUM$12B as of Jan 26, 2022
Dec 9, 2011$3.7B then
HNW client RAUM$8.3B as of Jan 26, 2022
Jan 24, 2018$4.0B then
State-registered IARs (5.B.3)147 as of Jan 26, 2022
Jan 8, 201365 then
Employees (5.A)273 as of Jan 26, 2022
Jan 8, 2013111 then
Private funds: no history
RAUM +14% over the last fiscal year+17% a year over threeIARs 151 to 147
Practice profile
derived from the filing of Jun 6, 2022; every figure names its basis
RAUM per advisor
$84.6MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
89derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.0MderivedHNW RAUM over HNW clients
Average account
$402,775derivedRAUM over accounts (5.F.2.f)
Discretionary
57%derivedof RAUM
Institutional
2.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.9derivedItem 5.A over advisors
Advisors per office
21.0derived7 offices incl. principal (1.F.5)
RAUM growth, one year
+14%derivedbetween the last two annual amendments
Advisor growth, one year
-2.6%derivedItem 5.B.3 between annual amendments
Client growth, one year
+6.7%derived
Compensation
percentage of assets, hourly, commissionsreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
Financial planning clients
1,500reportedItem 5.H
Wrap fee program
$32.6MreportedItem 5.I
Custody
$12B, 13,010 clientsreportedItem 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
  • is a broker-dealer (6.A.1)
  • 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)
  • 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$8.3B67%
  • Individuals$3.7B30%
  • Charitable organizations$147M1.2%
  • State and municipal entities$100M0.8%
  • Pension and profit-sharing plans$99.9M0.8%
  • Corporations and businesses$68.4M0.6%
Individual clients
8,936reported
HNW clients
4,160reported
Pension plan clients
60reported
Charitable clients
67reported
Accounts
30,861reported
Financial planning clients
1,500reported
Wrap fee programs
$32.6M sponsored, $0 managedreported
Custody of client assets
$12B for 13,010 clientsreported
Compensation
% of AUM, hourly, commissionsreported
Class basis
absent from the latest SEC rosterderived
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
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
    • Donald Mcghee Belt · Presidentcontrol
      since 11/2018 · owns less than 5%
    • Steven Gregory Booth · Directorcontrol
      since 05/2022 · owns less than 5%
    • Kimberly Tillotson Fleming · Directorcontrol
      since 11/2010 · owns less than 5%
    • James Gerard Meredith · Executive Vice Presidentcontrol
      since 10/1977 · owns less than 5%
    • Joseph M Niesslein · Cfo / Treasurercontrol
      since 09/2001 · owns less than 5%
    • Michael John Schroeder · Directorcontrol
      since 05/2022 · owns less than 5%
    • Paul Edward Taddeo · Chief Compliance Officercontrol
      since 01/2013 · owns less than 5%
    • Craig Arthur Tillotson · Vice Chairmancontrol
      since 12/2013 · owns less than 5%
    Entity owners
    • Masterplan, Inc. · Owner Of Hefren Tillotson
      direct · owns 75% or more
    • Baird Financial Corporation · Shareholder
      indirect · owns 75% or more of Masterplan, Inc.
    • Baird Financial Group, Inc · Shareholder
      indirect · owns 75% or more of Baird Financial Corporation
    Related persons
    Schedule D 7.A
    Offices
    Schedule D 1.F, the 25 largest
    • Wexford, PA45 employees
    • Canonsburg, PA17 employees
    • Pittsburgh, PA15 employees
    • Butler, PA14 employees
    • Greensburg, PA9 employees
    • Pittsburgh, PA4 employees
    What changed
    consecutive filings, newest first
    • Related adviser · false to true
      Mar 1, 2022 to May 31, 2022
    • Related bank · false to true
      Mar 1, 2022 to May 31, 2022
    • Related broker-dealer · false to true
      Mar 1, 2022 to May 31, 2022
    • Accounts · 28,777 to 30,861
      Sep 1, 2021 to Jan 26, 2022
    • Advisory employees · 101 to 107
      Sep 1, 2021 to Jan 26, 2022
    • BD registered reps · 175 to 171
      Sep 1, 2021 to Jan 26, 2022
    • Charity clients · 61 to 67
      Sep 1, 2021 to Jan 26, 2022
    • Corporate clients · 43 to 48
      Sep 1, 2021 to Jan 26, 2022
    • HNW clients · 4,268 to 4,160
      Sep 1, 2021 to Jan 26, 2022
    • Individual clients · 8,002 to 8,936
      Sep 1, 2021 to Jan 26, 2022
    • Pension plan clients · 61 to 60
      Sep 1, 2021 to Jan 26, 2022
    • Assets in custody · $8.9B to $12B
      Sep 1, 2021 to Jan 26, 2022
    • Employees · 271 to 273
      Sep 1, 2021 to Jan 26, 2022
    • State-registered IARs · 151 to 147
      Sep 1, 2021 to Jan 26, 2022
    • Discretionary RAUM · $6.1B to $7.1B
      Sep 1, 2021 to Jan 26, 2022
    • HNW RAUM · $7.7B to $8.3B
      Sep 1, 2021 to Jan 26, 2022
    • Individual RAUM · $2.8B to $3.7B
      Sep 1, 2021 to Jan 26, 2022
    • Non-discretionary RAUM · $4.8B to $5.3B
      Sep 1, 2021 to Jan 26, 2022
    • Pension RAUM · $94.0M to $99.9M
      Sep 1, 2021 to Jan 26, 2022
    • RAUM · $11B to $12B
      Sep 1, 2021 to Jan 26, 2022
    • Wrap assets (sponsor) · $17.7M to $32.6M
      Sep 1, 2021 to Jan 26, 2022
    • Accounts · 27,215 to 28,777
      Jun 15, 2020 to Jan 22, 2021
    • Advisory employees · 99 to 101
      Jun 15, 2020 to Jan 22, 2021
    • BD registered reps · 173 to 175
      Jun 15, 2020 to Jan 22, 2021
    • Charity clients · 56 to 61
      Jun 15, 2020 to Jan 22, 2021
    • HNW clients · 3,610 to 4,268
      Jun 15, 2020 to Jan 22, 2021
    • Individual clients · 7,906 to 8,002
      Jun 15, 2020 to Jan 22, 2021
    • Pension plan clients · 72 to 61
      Jun 15, 2020 to Jan 22, 2021
    • Employees · 266 to 271
      Jun 15, 2020 to Jan 22, 2021
    • State-registered IARs · 147 to 151
      Jun 15, 2020 to Jan 22, 2021
    • Discretionary RAUM · $4.9B to $6.1B
      Jun 15, 2020 to Jan 22, 2021
    • HNW RAUM · $5.9B to $7.7B
      Jun 15, 2020 to Jan 22, 2021
    • Individual RAUM · $2.6B to $2.8B
      Jun 15, 2020 to Jan 22, 2021
    • Non-discretionary RAUM · $3.9B to $4.8B
      Jun 15, 2020 to Jan 22, 2021
    • Pension RAUM · $92.4M to $94.0M
      Jun 15, 2020 to Jan 22, 2021
    • RAUM · $8.9B to $11B
      Jun 15, 2020 to Jan 22, 2021
    • Wrap assets (sponsor) · $17.0M to $17.7M
      Jun 15, 2020 to Jan 22, 2021
    • Accounts · 24,752 to 27,215
      Jan 16, 2020 to Jan 28, 2020
    • Advisory employees · 95 to 99
      Jan 16, 2020 to Jan 28, 2020
    • BD registered reps · 166 to 173
      Jan 16, 2020 to Jan 28, 2020
    Signals
    20 dated events
    • Stephanie L. Mckay left Hefren-Tillotson, Inc. for Rbc Capital Markets, Llc (registered 2022-10-17)
      Oct 17, 2022 · Advisor changed firm · fact
    • 3 advisors left Hefren-Tillotson, Inc. (Wexford, PA) for RBC Capital Markets, LLC on the same day
      Oct 17, 2022 · Team lift-out · derived
    • Kevin Christopher Krul left Hefren-Tillotson, Inc. for Rbc Capital Markets, Llc (registered 2022-10-17)
      Oct 17, 2022 · Advisor changed firm · fact
    • John David Reba left Hefren-Tillotson, Inc. for Rbc Capital Markets, Llc (registered 2022-10-17)
      Oct 17, 2022 · Advisor changed firm · fact
    • Dana Lynn Klein left Hefren-Tillotson, Inc. for Cambridge Investment Research Advisors, Inc. (registered 2022-10-25)
      Oct 4, 2022 · Advisor changed firm · fact
    • 2 advisors left Hefren-Tillotson, Inc. (Wexford, PA) for Raymond James & Associates, Inc. on the same day
      Aug 25, 2022 · Team lift-out · derived
    • Alphonse Steven Weber left Hefren-Tillotson, Inc. for Raymond James & Associates, Inc. (registered 2022-08-25)
      Aug 25, 2022 · Advisor changed firm · fact
    • Erin Lynn Weber left Hefren-Tillotson, Inc. for Raymond James & Associates, Inc. (registered 2022-08-25)
      Aug 25, 2022 · Advisor changed firm · fact
    • Bruce L Bruns left Hefren-Tillotson, Inc. for Raymond James Financial Services Advisors, Inc (registered 2022-09-01)
      Jul 27, 2022 · Advisor changed firm · fact
    • Jason Alan Hitchman left Hefren-Tillotson, Inc. for Morgan Stanley (registered 2022-07-08)
      Jul 8, 2022 · Advisor changed firm · fact
    • Kathleen Ann Thornhill left Hefren-Tillotson, Inc. for Confluence Financial Partners (registered 2022-07-13)
      Jul 6, 2022 · Advisor changed firm · fact
    • Gilbert E. Davis left Hefren-Tillotson, Inc. for Wells Fargo Advisors (registered 2022-06-30)
      Jun 30, 2022 · Advisor changed firm · fact
    • Michael John Schroeder (Director) appeared on Schedule A of Hefren-Tillotson, Inc.
      May 31, 2022 · Control person joined · fact
    • Steven Gregory Booth (Director) appeared on Schedule A of Hefren-Tillotson, Inc.
      May 31, 2022 · Control person joined · fact
    • William Clark Fraser left Hefren-Tillotson, Inc. for Avantax Advisory Services (registered 2022-05-17)
      May 17, 2022 · Advisor changed firm · fact
    • Nicholas R. Redshaw left Hefren-Tillotson, Inc. for Fragasso Financial Advisors (registered 2022-04-12)
      Apr 5, 2022 · Advisor changed firm · fact
    • Robert Joseph Palmer left Hefren-Tillotson, Inc. for Heritage Wealth Advisors (registered 2022-04-04)
      Mar 16, 2022 · Advisor changed firm · fact
    • Joseph Lee Keiger left Hefren-Tillotson, Inc. for Davenport & Company Llc (registered 2022-01-19)
      Jan 7, 2022 · Advisor changed firm · fact
    • John Patrick Meegan (Chief Operating Officer) no longer on Schedule A of Hefren-Tillotson, Inc. (listed 2021-01-27, absent 2021-03-08)
      Mar 8, 2021 · Control person left · inference
    • Hefren-Tillotson, Inc. reported 132 state-registered advisory representatives, up from 98 (2017-07-14 to 2018-01-24)
      Jan 24, 2018 · Advisor headcount change · derived
    Across DFX
    shared identifiers only, never a name match
    No identifier-backed link to the venture, private equity, family office or sponsor graphs.
    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
    Former SEC-registered adviserderiveda 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