{
  "crd_number": 174817,
  "slug": "marshall-investment-management-llc-greenwood-village-co-174817",
  "primary_business_name": "MARSHALL INVESTMENT MANAGEMENT, LLC",
  "legal_name": "MARSHALL INVESTMENT MANAGEMENT, LLC",
  "dbas": [
    "CAVILL & COMPANY",
    "KIRSCH WEALTH ADVISORS"
  ],
  "city": "Greenwood Village",
  "state": "CO",
  "country": "United States",
  "cbsa_code": "19740",
  "metro": {
    "cbsa_code": "19740",
    "common_name": "Denver",
    "msa_name": "Denver-Aurora-Centennial, CO",
    "path": "/advisors/co/denver"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2019-09-06",
  "years_registered": 7,
  "period": "2026-10-01",
  "filing_date": "2026-08-26",
  "carried_forward": false,
  "raum_total": 297993524.0,
  "raum_discretionary": 297783211.0,
  "raum_non_discretionary": 210313.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 8,
  "advisory_employees": 8,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 446200.0,
      "count": null,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 72945241.0,
      "count": 330
    },
    "pension_profit_sharing": {
      "raum": 326790.0,
      "count": null,
      "fewer_than_5": true
    },
    "high_net_worth_individuals": {
      "raum": 223619419.0,
      "count": 257
    },
    "corporations_other_businesses": {
      "raum": 655874.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "pension_consulting",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "CO",
    "FL",
    "GA",
    "MD",
    "MN",
    "NC",
    "NE",
    "NH",
    "NM",
    "NY",
    "PA",
    "SD",
    "TX",
    "VA"
  ],
  "websites": [
    "https://facebook.com/InvestWithMarshall",
    "https://investwithmarshall.com",
    "https://linkedin.com/in/dennis-marshall-8ab46319b",
    "https://linkedin.com/in/kristin-schoenfelder-9646b819b",
    "https://twitter.com/investmarshall"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/174817",
  "city_as_filed": "GREENWOOD VILLAGE",
  "url": "https://advisorcensus.com/firm/marshall-investment-management-llc-greenwood-village-co-174817",
  "display_name": "Marshall Investment Management, LLC",
  "summary": "Marshall Investment Management, LLC is an SEC-registered investment advisory firm in Greenwood Village, CO, registered since 2019, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated August 26, 2026.",
  "citation": "AdvisorCensus. Marshall Investment Management, LLC (CRD 174817): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Pension consulting services",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Marshall Investment Management, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Marshall Investment Management, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees)."
    },
    {
      "q": "How much does Marshall Investment Management, LLC charge?",
      "a": "Its Form ADV Part 2A brochure dated August 26, 2026 states: Flat fee: $2,500 to $15,000 (financial plans); Subscription: $200 a month (ongoing financial planning services); Hourly rate: $200 to $500 an hour (ongoing financial consulting services); Flat fee: up to $15,000 a year (ongoing financial consulting services). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Marshall Investment Management, LLC located?",
      "a": "Marshall Investment Management, LLC's principal office is in Greenwood Village, CO, according to its Form ADV; the September 2026 filing also lists 3 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Marshall Investment Management, LLC registered with the SEC or a state?",
      "a": "Marshall Investment Management, LLC is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 174817."
    },
    {
      "q": "How much does Marshall Investment Management, LLC manage?",
      "a": "Marshall Investment Management, LLC reports $297,993,524 in regulatory assets under management in its Form ADV filing dated August 26, 2026 (100% discretionary)."
    },
    {
      "q": "How have Marshall Investment Management, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Marshall Investment Management, LLC: Regulatory assets under management: $197,229,057 in the October 2021 data and $297,993,524 in the October 2026 data, up 51%. Total employees: 6 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Marshall Investment Management, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (330); high net worth individuals (257)."
    },
    {
      "q": "Which custodians does Marshall Investment Management, LLC use?",
      "a": "Marshall Investment Management, LLC'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."
    },
    {
      "q": "Does Marshall Investment 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/174817"
    },
    {
      "q": "What changed in Marshall Investment Management, LLC's recent Form ADV filings?",
      "a": "In the July 2026 filing data: No longer lists the business name Kirsch Wealth Management. Added the business name Kirsch Wealth Advisors. Added an office in Largo, FL."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 197229057.0,
      "total_employees": 6,
      "filing_date": "2021-03-18"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 237544125.0,
      "total_employees": 6,
      "filing_date": "2022-02-24"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 203718249.0,
      "total_employees": 6,
      "filing_date": "2023-02-02"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 221649925.0,
      "total_employees": 11,
      "filing_date": "2024-08-27"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 264092743.0,
      "total_employees": 8,
      "filing_date": "2025-03-30"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 297993524.0,
      "total_employees": 8,
      "filing_date": "2026-08-26"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-07-01",
      "period_label": "July 2026",
      "notes": [
        "No longer lists the business name Kirsch Wealth Management.",
        "Added the business name Kirsch Wealth Advisors.",
        "Added an office in Largo, FL."
      ]
    },
    {
      "period": "2026-03-01",
      "period_label": "March 2026",
      "notes": [
        "Regulatory assets under management went from $264,092,743 to $297,993,524 (+13%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated August 26, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [
      "Flat fee: $2,500 to $15,000 (financial plans)",
      "Subscription: $200 a month (ongoing financial planning services)",
      "Hourly rate: $200 to $500 an hour (ongoing financial consulting services)",
      "Flat fee: up to $15,000 a year (ongoing financial consulting services)"
    ],
    "figures": [
      {
        "label": "Planning fee",
        "statements": [
          "Flat fee: $2,500 to $15,000 (financial plans)"
        ],
        "quotes": [
          "Flat fees for financial plans range between $2,500 and $15,000."
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Subscription: $200 a month (ongoing financial planning services)"
        ],
        "quotes": [
          "For ongoing financial planning services are $200 per month."
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Hourly rate: $200 to $500 an hour (ongoing financial consulting services)"
        ],
        "quotes": [
          "This could include an ongoing hourly fee ranging from $ 200 to $ 500 per hour."
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Flat fee: up to $15,000 a year (ongoing financial consulting services)"
        ],
        "quotes": [
          "For other plans charge a flat fee per year for ongoing financial consulting services with a maximum charge of $15,000 per year."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": [
        {
          "kind": "flat",
          "amount": null,
          "min": 2500.0,
          "max": 15000.0,
          "period": "one_time",
          "service": "financial plans"
        },
        {
          "kind": "subscription",
          "amount": 200.0,
          "min": null,
          "max": null,
          "period": "monthly",
          "service": "ongoing financial planning services"
        },
        {
          "kind": "hourly",
          "amount": null,
          "min": 200.0,
          "max": 500.0,
          "period": "hour",
          "service": "ongoing financial consulting services"
        },
        {
          "kind": "flat",
          "amount": null,
          "min": null,
          "max": 15000.0,
          "period": "annual",
          "service": "ongoing financial consulting services"
        }
      ]
    },
    "quotes": [
      "Flat fees for financial plans range between $2,500 and $15,000.",
      "For ongoing financial planning services are $200 per month.",
      "This could include an ongoing hourly fee ranging from $ 200 to $ 500 per hour.",
      "For other plans charge a flat fee per year for ongoing financial consulting services with a maximum charge of $15,000 per year."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "LPL Financial LLC",
      "name_as_filed": "LPL FINANCIAL LLC",
      "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/marshall-investment-management-llc-greenwood-village-co-174817.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 330,
      "fewer_than_5": false,
      "raum": 72945241.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 257,
      "fewer_than_5": false,
      "raum": 223619419.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": null,
      "fewer_than_5": true,
      "raum": 326790.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": null,
      "fewer_than_5": true,
      "raum": 446200.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": null,
      "fewer_than_5": true,
      "raum": 655874.0
    }
  ],
  "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/174817",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}