# Four Financial Management

> 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.

- CRD: 284251
- Filed as: FOUR FINANCIAL MANAGEMENT
- Legal name: Morman, Kaplan, Brilliant and Fransko, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Ann Arbor, MI
- Filing period: October 2026
- Form ADV filing dated: March 18, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/284251
- AdvisorCensus page: https://advisorcensus.com/firm/four-financial-management-ann-arbor-mi-284251

## Quick answers

**How 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

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 18, 2026)

- Asset-based fee: 0.25% to 1.5% a year (a range, as the brochure states it)

> 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

> We do not have a minimum account size requirement to become a client.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- LPL Financial LLC

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.

### Regulatory assets under management (Item 5.F)
- Total: $162,655,000
- Discretionary: $162,655,000
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 312 | $80,225,000 |
| High net worth individuals | 41 | $82,430,000 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2024 (2 years)
- Employees: 7 total, 6 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: MI, NC, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- fourfinancial.com
- Facebook @FOUR-FINANCIAL-MANAGEMENT
- LinkedIn @FOUR-FINANCIAL-MANAGEMENT
- X @IV_Financial

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | $119,800,000 | 6 | August 2, 2024 |
| October 2025 | $148,170,000 | 6 | February 25, 2025 |
| October 2026 | $162,655,000 | 7 | March 18, 2026 |

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.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Four Financial Management (CRD 284251): Form ADV filing data as of October 2026.