# Black Elm Advisers, LLC

> Black Elm Advisers, LLC is a state-registered investment advisory firm, registered since 2016, reporting under $25 million in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 174910
- Filed as: BLACK ELM ADVISERS, LLC
- Registration: State-registered investment adviser (status as filed: APPROVED)
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- Public record (IAPD): https://adviserinfo.sec.gov/firm/summary/174910
- AdvisorCensus page: https://advisorcensus.com/firm/black-elm-advisers-llc-174910

## Quick answers

**How is Black Elm Advisers, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Black Elm Advisers, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Is Black Elm Advisers, LLC registered with the SEC or a state?**
Black Elm Advisers, LLC is a state-registered investment advisory firm, registered since 2016. Status as filed: APPROVED. CRD 174910.

**How much does Black Elm Advisers, LLC manage?**
Black Elm Advisers, LLC reports $18,626,080 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (91% discretionary).

**What types of clients does Black Elm Advisers, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (78); high net worth individuals (38); corporations or other businesses not listed above (4).

**Does Black Elm Advisers, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's public record on IAPD: https://adviserinfo.sec.gov/firm/summary/174910

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $18,626,080
- Discretionary: $16,932,481
- Non-discretionary: $1,693,599

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 78 | $4,121,152 |
| High net worth individuals | 38 | $12,488,381 |
| Corporations or other businesses not listed above | 4 | $2,016,547 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2016 (10 years)
- Employees: 3 total, 3 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL, IL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- blackelmadvisers.com
- LinkedIn @brianwdunn

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Black Elm Advisers, LLC (CRD 174910): Form ADV filing data as of October 2026.