# Marble Trail Advisors

> Marble Trail Advisors is an SEC-registered investment advisory firm in Middlebury, VT, registered since 2019, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated February 17, 2026.

- CRD: 154744
- Filed as: MARBLE TRAIL ADVISORS
- Legal name: Addison Advisors LLC
- Also doing business as: MARBLE TRAIL ADVISORS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Middlebury, VT
- Filing period: October 2026
- Form ADV filing dated: February 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/154744
- AdvisorCensus page: https://advisorcensus.com/firm/marble-trail-advisors-middlebury-vt-154744

## Quick answers

**How is Marble Trail Advisors compensated?**
On its Form ADV (Item 5.E, October 2026), Marble Trail Advisors reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); other.

**Where is Marble Trail Advisors located?**
Marble Trail Advisors' principal office is in Middlebury, VT, according to its Form ADV; the March 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Marble Trail Advisors registered with the SEC or a state?**
Marble Trail Advisors is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 154744.

**How much does Marble Trail Advisors manage?**
Marble Trail Advisors reports $582,695,913 in regulatory assets under management in its Form ADV filing dated February 17, 2026 (100% discretionary).

**How have Marble Trail Advisors' assets and staff changed since 2021?**
In the Form ADV data for Marble Trail Advisors: Regulatory assets under management: $197,231,770 in the October 2021 data and $582,695,913 in the October 2026 data, up 195%. Total employees: 5 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Marble Trail Advisors serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (188); individuals (other than high net worth individuals) (180).

**Which custodians does Marble Trail Advisors use?**
Marble Trail Advisors' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Pershing LLC as custodians holding 10% or more of its separately managed account assets.

**Does Marble Trail Advisors 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/154744

**What changed in Marble Trail Advisors' recent Form ADV filings?**
In the March 2026 filing data: Employees performing advisory functions went from 5 to 6. Regulatory assets under management went from $490,221,306 to $582,695,913 (+19%).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated February 17, 2026)

- Minimum annual fee: $2,500

> Marble Trail has established a minimum annual planning fee of $2,500 per household, but may negotiate a fee below the annual minimum where circumstances warrant.

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.
- Pershing 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: $582,695,913
- Discretionary: $581,767,972
- Non-discretionary: $927,941

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 180 | $95,510,382 |
| High net worth individuals | 188 | $483,360,854 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $3,004,600 |
| Charitable organizations | Fewer than 5 | $820,077 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

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

### Firm details
- Registered since: 2019 (7 years)
- Employees: 9 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, FL, MA, ME, NH, NY, VT
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the March 2026 filing
- Yarmouth, ME

### Websites listed on Form ADV (Item 1.I)
- marbletrail.com
- LinkedIn @addison-advisors-llc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $197,231,770 | 5 | September 23, 2021 |
| October 2022 | $358,453,707 | 10 | March 8, 2022 |
| October 2023 | $318,514,531 | 8 | February 9, 2023 |
| October 2024 | $431,057,209 | 9 | April 1, 2024 |
| October 2025 | $490,221,306 | 9 | July 22, 2025 |
| October 2026 | $582,695,913 | 9 | February 17, 2026 |

Regulatory assets under management: $197,231,770 in the October 2021 data and $582,695,913 in the October 2026 data, up 195%.
Total employees: 5 in October 2021 and 9 in October 2026.

## Changes in the filing (last 12 months)

### March 2026
- Employees performing advisory functions went from 5 to 6.
- Regulatory assets under management went from $490,221,306 to $582,695,913 (+19%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Marble Trail Advisors (CRD 154744): Form ADV filing data as of October 2026.