# Madrone Investment Advisory, LLC

> Madrone Investment Advisory, LLC is an SEC-registered investment advisory firm in San Rafael, CA, registered since 2021, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 24, 2026.

- CRD: 149549
- Filed as: MADRONE INVESTMENT ADVISORY, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Rafael, CA
- Filing period: October 2026
- Form ADV filing dated: March 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/149549
- AdvisorCensus page: https://advisorcensus.com/firm/madrone-investment-advisory-llc-san-rafael-ca-149549

## Quick answers

**How is Madrone Investment Advisory, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Madrone Investment Advisory, LLC reports these compensation arrangements: fixed fees (other than subscription fees).

**How much does Madrone Investment Advisory, LLC charge?**
Its Form ADV Part 2A brochure dated March 24, 2026 states: Flat fee: $6,000 a year (fiduciary investment management services to qualified retirement plans…). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Madrone Investment Advisory, LLC located?**
Madrone Investment Advisory, LLC's principal office is in San Rafael, CA, according to its Form ADV.

**Is Madrone Investment Advisory, LLC registered with the SEC or a state?**
Madrone Investment Advisory, LLC is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 149549.

**How much does Madrone Investment Advisory, LLC manage?**
Madrone Investment Advisory, LLC reports $254,318,050 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (4% discretionary).

**How have Madrone Investment Advisory, LLC's assets and staff changed since 2021?**
In the Form ADV data for Madrone Investment Advisory, LLC: Regulatory assets under management: $150,900,000 in the October 2021 data and $254,318,050 in the October 2026 data, up 69%. Total employees: 1 in October 2021 and 1 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Madrone Investment Advisory, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (59); individuals (other than high net worth individuals) (52); corporations or other businesses not listed above (4).

**Which custodians does Madrone Investment Advisory, LLC use?**
Madrone Investment Advisory, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Newport Trust Company and The Vanguard Group as custodians holding 10% or more of its separately managed account assets.

**Does Madrone Investment Advisory, LLC 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/149549

**Does Madrone Investment Advisory, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 24, 2026 says: "Madrone does not require a minimum balance to open an account."

**What changed in Madrone Investment Advisory, LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $226,085,081 to $254,318,050 (+12%).

## From the Form ADV filing

### Compensation (Item 5.E)
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 24, 2026)

- Account minimum: None

> Madrone does not require a minimum balance to open an account.

- Flat fee: $6,000 a year (fiduciary investment management services to qualified retirement plans…)

> based on a flat annual dollar fee. For ERISA accounts of less than $2M in value, the annual fee is $6,000.

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Newport Trust Company
- The Vanguard Group

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: $254,318,050
- Discretionary: $10,871,575
- Non-discretionary: $243,446,475

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 52 | $37,422,054 |
| High net worth individuals | 59 | $203,482,018 |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 2 | $10,265,594 |
| Charitable organizations | 1 | $665,977 |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 4 | $2,482,407 |
| Other | 0 | Not reported |

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

### Firm details
- Registered since: 2021 (5 years)
- Employees: 1 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- madronellc.com
- Facebook @MADRONE-INVESTMENT-ADVISORY-LLC-110297792687079
- LinkedIn @MICHAEL-H-ZAIDLIN-J-D-88526637

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $150,900,000 | 1 | July 28, 2021 |
| October 2022 | $166,314,838 | 1 | March 7, 2022 |
| October 2023 | $170,457,431 | 1 | July 12, 2023 |
| October 2024 | $200,754,000 | 1 | March 21, 2024 |
| October 2025 | $226,085,081 | 1 | March 24, 2025 |
| October 2026 | $254,318,050 | 1 | March 24, 2026 |

Regulatory assets under management: $150,900,000 in the October 2021 data and $254,318,050 in the October 2026 data, up 69%.
Total employees: 1 in October 2021 and 1 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $226,085,081 to $254,318,050 (+12%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Madrone Investment Advisory, LLC (CRD 149549): Form ADV filing data as of October 2026.