AdvisorCensus / Financial advisors / Michigan / Ann Arbor / Four Financial Management
Four Financial Management
Filed as FOUR FINANCIAL MANAGEMENT · Legal name Morman, Kaplan, Brilliant and Fransko, LLC
Four Financial Management is an SEC-registered investment advisory firm in Ann Arbor, MI, registered since 2024, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 18, 2026.
Quick answers
From the filingHow is Four Financial Management compensated?
On its Form ADV (Item 5.E, October 2026), Four Financial Management reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).
What does Four Financial Management's brochure say about its fees?
Its Form ADV Part 2A brochure dated March 18, 2026 states: Asset-based fee: 0.25% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Four Financial Management located?
Four Financial Management's principal office is in Ann Arbor, MI, according to its Form ADV.
Is Four Financial Management registered with the SEC or a state?
Four Financial Management is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 284251.
How much does Four Financial Management manage?
Four Financial Management reports $162,655,000 in regulatory assets under management in its Form ADV filing dated March 18, 2026 (100% discretionary).
How have Four Financial Management's assets and staff changed since 2024?
In the Form ADV data for Four Financial Management: Regulatory assets under management: $119,800,000 in the October 2024 data and $162,655,000 in the October 2026 data, up 36%. Total employees: 6 in October 2024 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Four Financial Management serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (312); high net worth individuals (41).
Which custodians does Four Financial Management use?
Four Financial Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists LPL Financial LLC as a custodian holding 10% or more of its separately managed account assets.
Does Four Financial Management 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/284251
Does Four Financial Management state an account minimum?
Its Form ADV Part 2A brochure dated March 18, 2026 says: "We do not have a minimum account size requirement to become a client."
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
- Hourly charges
- Fixed fees (other than subscription fees)
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: 0.25% to 1.5% a year (a range, as the brochure states it)
The brochure's wording
Our annual management fee ranges between 0.25% - 1.50%. The fee is negotiable, based on the amount of client assets under management and the complexity and nature of the portfolio management services.
Account minimum: None
The brochure's wording
We do not have a minimum account size requirement to become a client.
As stated in the firm's Form ADV Part 2A brochure dated March 18, 2026. 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$162,655,000 as of October 2026, filing dated March 18, 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
- Selection of other advisers (including private fund managers)
Registration and firm details
Items 1, 2, 5- Legal name
- Morman, Kaplan, Brilliant and Fransko, LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2024 (2 years)
- Employees
- Total: 7. Performing investment advisory functions: 6.
- Wrap fee program participation
- Yes.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- States registered or notice-filed
-
3 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 | $162,655,000 | 7 | March 18, 2026 |
| October 2025 | $148,170,000 | 6 | February 25, 2025 |
| October 2024 | $119,800,000 | 6 | August 2, 2024 |
Regulatory assets under management: $119,800,000 in the October 2024 data and $162,655,000 in the October 2026 data, up 36%.
Total employees: 6 in October 2024 and 7 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 monthsNo changes to these filed facts in the last 12 months of filing data.
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. Four Financial Management (CRD 284251): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/four-financial-management-ann-arbor-mi-284251