{
  "crd_number": 167555,
  "slug": "formidable-asset-management-llc-cincinnati-oh-167555",
  "primary_business_name": "FORMIDABLE ASSET MANAGEMENT, LLC",
  "legal_name": "FORMIDABLE ASSET MANAGEMENT, LLC",
  "dbas": [
    "FORMIDABLE FINANCIAL SERVICES, LLC",
    "MASSEY ROMANS CAPITAL"
  ],
  "city": "Cincinnati",
  "state": "OH",
  "country": "United States",
  "cbsa_code": "17140",
  "metro": {
    "cbsa_code": "17140",
    "common_name": "Cincinnati",
    "msa_name": "Cincinnati, OH-KY-IN",
    "path": "/advisors/oh/cincinnati"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2013-04-22",
  "years_registered": 13,
  "period": "2026-10-01",
  "filing_date": "2026-08-14",
  "carried_forward": false,
  "raum_total": 903036940.0,
  "raum_discretionary": 902305562.0,
  "raum_non_discretionary": 731378.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 21,
  "advisory_employees": 14,
  "client_count_bucket": null,
  "clients_by_type": {
    "charitable": {
      "raum": 1813850.0,
      "count": 5
    },
    "individuals": {
      "raum": 230358011.0,
      "count": 674
    },
    "investment_companies": {
      "raum": 39821507.0,
      "count": 2
    },
    "pension_profit_sharing": {
      "raum": 986484.0,
      "count": 5
    },
    "high_net_worth_individuals": {
      "raum": 626121219.0,
      "count": 203
    },
    "pooled_investment_vehicles": {
      "raum": 1793630.0,
      "count": 1
    },
    "corporations_other_businesses": {
      "raum": 2142239.0,
      "count": 10
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "financial_planning",
    "pension_consulting",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "CA",
    "CO",
    "DE",
    "FL",
    "GA",
    "IL",
    "IN",
    "KS",
    "KY",
    "LA",
    "MA",
    "NC",
    "NH",
    "NJ",
    "NY",
    "OH",
    "OR",
    "PA",
    "SC",
    "TN",
    "TX",
    "VA",
    "WA"
  ],
  "websites": [
    "https://formidableam.com",
    "https://formidablefunds.com",
    "https://linkedin.com/company/formidable-asset-management",
    "https://linkedin.com/company/masseyromans",
    "https://linkedin.com/in/will-brown-34286713",
    "https://masseyromanscapital.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/167555",
  "city_as_filed": "CINCINNATI",
  "url": "https://advisorcensus.com/firm/formidable-asset-management-llc-cincinnati-oh-167555",
  "display_name": "Formidable Asset Management, LLC",
  "summary": "Formidable Asset Management, LLC is an SEC-registered investment advisory firm in Cincinnati, OH, registered since 2013, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated August 14, 2026.",
  "citation": "AdvisorCensus. Formidable Asset Management, LLC (CRD 167555): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Pension consulting services"
  ],
  "quick_answers": [
    {
      "q": "How is Formidable Asset Management, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Formidable Asset Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "What does Formidable Asset Management, LLC's brochure say about its fees?",
      "a": "Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 0.5% to 2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Formidable Asset Management, LLC located?",
      "a": "Formidable Asset Management, LLC's principal office is in Cincinnati, OH, according to its Form ADV; the September 2026 filing also lists 2 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Formidable Asset Management, LLC registered with the SEC or a state?",
      "a": "Formidable Asset Management, LLC is an SEC-registered investment advisory firm, registered since 2013. Status as filed: Approved. CRD 167555."
    },
    {
      "q": "How much does Formidable Asset Management, LLC manage?",
      "a": "Formidable Asset Management, LLC reports $903,036,940 in regulatory assets under management in its Form ADV filing dated August 14, 2026 (100% discretionary)."
    },
    {
      "q": "How have Formidable Asset Management, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Formidable Asset Management, LLC: Regulatory assets under management: $618,829,975 in the October 2021 data and $903,036,940 in the October 2026 data, up 46%. Total employees: 15 in October 2021 and 21 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Formidable Asset Management, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (674); high net worth individuals (203); corporations or other businesses not listed above (10)."
    },
    {
      "q": "Which custodians does Formidable Asset Management, LLC use?",
      "a": "Formidable Asset Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., LPL Financial LLC, Raymond James & Associates, Inc. and SEI Investments Distribution Co. as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Formidable Asset Management, LLC report any disciplinary disclosures?",
      "a": "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/167555"
    },
    {
      "q": "Does Formidable Asset Management, LLC state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 31, 2026 says: \"Formidable Asset Management does not require the client to have a minimum investment amount to open and/or to maintain an account with it.\""
    },
    {
      "q": "What changed in Formidable Asset Management, LLC's recent Form ADV filings?",
      "a": "In the September 2026 filing data: Registered or notice-filed in NJ."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 618829975.0,
      "total_employees": 15,
      "filing_date": "2021-08-04"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 706866699.0,
      "total_employees": 15,
      "filing_date": "2022-03-18"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 632038209.0,
      "total_employees": 15,
      "filing_date": "2023-09-25"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 886834074.0,
      "total_employees": 20,
      "filing_date": "2024-08-21"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 876010541.0,
      "total_employees": 20,
      "filing_date": "2025-03-26"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 903036940.0,
      "total_employees": 21,
      "filing_date": "2026-08-14"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-09-01",
      "period_label": "September 2026",
      "notes": [
        "Registered or notice-filed in NJ."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Changed its office addresses in Vero Beach, FL.",
        "Registered or notice-filed in KS, LA, NH."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 31, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": "0.5% to 2% a year",
    "stated_maximum": null,
    "account_minimum": "None",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 0.5% to 2% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "Clients are assessed an annual Management Fee ranging from 0.50% to 2.00% (per annum). The Management Fee is billed quarterly in advance."
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: None"
        ],
        "quotes": [
          "Formidable Asset Management does not require the client to have a minimum investment amount to open and/or to maintain an account with it."
        ]
      }
    ],
    "quotes": [
      "Clients are assessed an annual Management Fee ranging from 0.50% to 2.00% (per annum). The Management Fee is billed quarterly in advance.",
      "Formidable Asset Management does not require the client to have a minimum investment amount to open and/or to maintain an account with it."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "LPL Financial LLC",
      "name_as_filed": "LPL FINANCIAL LLC",
      "affiliated": false
    },
    {
      "name": "Raymond James & Associates, Inc.",
      "name_as_filed": "RAYMOND JAMES & ASSOCIATES, INC.",
      "affiliated": false
    },
    {
      "name": "SEI Investments Distribution Co.",
      "name_as_filed": "SEI INVESTMENTS DISTRIBUTION CO.",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/formidable-asset-management-llc-cincinnati-oh-167555.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 674,
      "fewer_than_5": false,
      "raum": 230358011.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 203,
      "fewer_than_5": false,
      "raum": 626121219.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 2,
      "fewer_than_5": false,
      "raum": 39821507.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 1,
      "fewer_than_5": false,
      "raum": 1793630.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 5,
      "fewer_than_5": false,
      "raum": 986484.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 5,
      "fewer_than_5": false,
      "raum": 1813850.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 10,
      "fewer_than_5": false,
      "raum": 2142239.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/167555",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}