AdvisorCensus / Financial advisors / New York / New York / Elphinstone
Elphinstone is an SEC-registered investment advisory firm in New York, NY, registered since 2021, reporting under $25 million in regulatory assets under management in its Form ADV filing dated April 2, 2026.
Quick answers
From the filingHow is Elphinstone compensated?
On its Form ADV (Item 5.E, October 2026), Elphinstone reports these compensation arrangements: a percentage of assets under its management.
What does Elphinstone's brochure say about its fees?
Its Form ADV Part 2A brochure dated March 25, 2025 states: Asset-based fee: 1% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Elphinstone located?
Elphinstone's principal office is in New York, NY, according to its Form ADV.
Is Elphinstone registered with the SEC or a state?
Elphinstone is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 311264.
How much does Elphinstone manage?
Elphinstone reports $1,419,128 in regulatory assets under management in its Form ADV filing dated April 2, 2026 (0% discretionary).
How have Elphinstone's assets and staff changed since 2021?
In the Form ADV data for Elphinstone: Regulatory assets under management: $364,784 in the October 2024 data and $1,419,128 in the October 2026 data, up 289%. Total employees: 3 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Elphinstone serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (579).
Does Elphinstone report any disciplinary disclosures?
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/311264
What changed in Elphinstone's recent Form ADV filings?
In the May 2026 filing data: Regulatory assets under management went from $992,361 to $1,419,128 (+43%).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAsset-based fee: 1% of assets a year
The brochure's wording
Elphinstone is compensated for its advisory services by charging an annual fee of 1.0% of the net market value of the client’s account. Total assets under management Annual fee All assets 1.0%
As stated in the firm's Form ADV Part 2A brochure dated March 25, 2025. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$1,419,128 as of October 2026, filing dated April 2, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Financial planning services
- Portfolio management for individuals and/or small businesses
Registration and firm details
Items 1, 2, 5- Legal name
- Elphinstone, Inc.
- Also doing business as
- SMARTRUPEE
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2021 (5 years)
- Employees
- Total: 5. Performing investment advisory functions: 1.
- Wrap fee program participation
- Yes.
- States registered or notice-filed
-
2 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $1,419,128 | 5 | April 2, 2026 |
| October 2025 | $992,361 | 5 | March 25, 2025 |
| October 2024 | $364,784 | 5 | March 27, 2024 |
| October 2023 | Not reported | 5 | June 15, 2023 |
| October 2022 | Not reported | 3 | February 28, 2022 |
| October 2021 | Not reported | 3 | February 11, 2021 |
Regulatory assets under management: $364,784 in the October 2024 data and $1,419,128 in the October 2026 data, up 289%.
Total employees: 3 in October 2021 and 5 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- May 2026
- Regulatory assets under management went from $992,361 to $1,419,128 (+43%).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Elphinstone (CRD 311264): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/elphinstone-new-york-ny-311264