# MBR Financial

> MBR Financial is an SEC-registered investment advisory firm in Houston, TX, registered since 2013, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 20, 2026.

- CRD: 168333
- Filed as: MBR FINANCIAL
- Legal name: Margolis Brady Raghavan Financial, Inc.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Houston, TX
- Filing period: October 2026
- Form ADV filing dated: March 20, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/168333
- AdvisorCensus page: https://advisorcensus.com/firm/mbr-financial-houston-tx-168333

## Quick answers

**How is MBR Financial compensated?**
On its Form ADV (Item 5.E, October 2026), MBR Financial reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); performance-based fees.

**How much does MBR Financial charge?**
Its Form ADV Part 2A brochure dated March 20, 2026 states: Hourly rate: $150 to $500 an hour (Financial planning). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is MBR Financial located?**
MBR Financial's principal office is in Houston, TX, according to its Form ADV.

**Is MBR Financial registered with the SEC or a state?**
MBR Financial is an SEC-registered investment advisory firm, registered since 2013. Status as filed: Approved. CRD 168333.

**How much does MBR Financial manage?**
MBR Financial reports $956,390,510 in regulatory assets under management in its Form ADV filing dated March 20, 2026 (81% discretionary).

**How have MBR Financial's assets and staff changed since 2021?**
In the Form ADV data for MBR Financial: Regulatory assets under management: $712,803,589 in the October 2021 data and $956,390,510 in the October 2026 data, up 34%. Total employees: 9 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does MBR Financial serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (248); high net worth individuals (232).

**Which custodians does MBR Financial use?**
MBR Financial's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC as a custodian holding 10% or more of its separately managed account assets.

**Does MBR Financial 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/168333

**Does MBR Financial state an account minimum?**
Its Form ADV Part 2A brochure dated March 20, 2026 says: "The minimum account size for investment management services is $1,000,000, although this is negotiable."

**What changed in MBR Financial's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $868,165,834 to $956,390,510 (+10%). Registered or notice-filed in TN.

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 20, 2026)

- Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)

> The minimum account size for investment management services is $1,000,000, although this is negotiable.

- Hourly rate: $150 to $500 an hour (Financial planning)

> Hourly charges are assessed as work is conducted (with rates ranging from $150 to $500 per hour).

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

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Brokerage Services 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: $956,390,510
- Discretionary: $773,262,518
- Non-discretionary: $183,127,992

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 248 | $83,544,000 |
| High net worth individuals | 232 | $872,846,510 |

### 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: 2013 (13 years)
- Employees: 10 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, FL, LA, NE, TN, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- mbrfinancial.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $712,803,589 | 9 | March 23, 2021 |
| October 2022 | $810,490,039 | 9 | March 31, 2022 |
| October 2023 | $682,331,887 | 9 | March 22, 2023 |
| October 2024 | $784,283,749 | 10 | March 15, 2024 |
| October 2025 | $868,165,834 | 10 | March 21, 2025 |
| October 2026 | $956,390,510 | 10 | March 20, 2026 |

Regulatory assets under management: $712,803,589 in the October 2021 data and $956,390,510 in the October 2026 data, up 34%.
Total employees: 9 in October 2021 and 10 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $868,165,834 to $956,390,510 (+10%).
- Registered or notice-filed in TN.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. MBR Financial (CRD 168333): Form ADV filing data as of October 2026.