{
  "crd_number": 304309,
  "slug": "palos-management-inc-montreal-quebec-304309",
  "primary_business_name": "PALOS MANAGEMENT INC.",
  "legal_name": "PALOS MANAGEMENT INC.",
  "dbas": [],
  "city": "Montreal, Quebec",
  "state": null,
  "country": "Canada",
  "cbsa_code": null,
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2019-07-29",
  "years_registered": 7,
  "period": "2026-10-01",
  "filing_date": "2026-03-20",
  "carried_forward": false,
  "raum_total": 12051303.0,
  "raum_discretionary": 12051303.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "under_25m",
  "raum_band_label": "Under $25 million",
  "total_employees": 18,
  "advisory_employees": 3,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 0.0,
      "count": 0
    },
    "individuals": {
      "raum": 1813547.0,
      "count": 8
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 10237756.0,
      "count": 0,
      "fewer_than_5": true
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 0.0,
      "count": 0
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 3,
  "states_registered": [
    "CA",
    "CT",
    "FL",
    "NJ",
    "NY",
    "PR",
    "TX"
  ],
  "websites": [
    "https://linkedin.com/company/palos-managment-inc./about",
    "https://palos.ca"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/304309",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    }
  ],
  "city_as_filed": "MONTREAL, QUEBEC",
  "url": "https://advisorcensus.com/firm/palos-management-inc-montreal-quebec-304309",
  "display_name": "Palos Management Inc.",
  "summary": "Palos Management Inc. is an SEC-registered investment advisory firm in Montreal, Quebec, Canada, registered since 2019, reporting under $25 million in regulatory assets under management in its Form ADV filing dated March 20, 2026.",
  "citation": "AdvisorCensus. Palos Management Inc. (CRD 304309): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses"
  ],
  "quick_answers": [
    {
      "q": "How is Palos Management Inc. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Palos Management Inc. reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "How much does Palos Management Inc. charge?",
      "a": "Its Form ADV Part 2A brochure dated March 20, 2026 states: Asset-based fee: 0.75% 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."
    },
    {
      "q": "Where is Palos Management Inc. located?",
      "a": "Palos Management Inc.'s principal office is in Montreal, Quebec, Canada, according to its Form ADV."
    },
    {
      "q": "Is Palos Management Inc. registered with the SEC or a state?",
      "a": "Palos Management Inc. is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 304309."
    },
    {
      "q": "How much does Palos Management Inc. manage?",
      "a": "Palos Management Inc. reports $12,051,303 in regulatory assets under management in its Form ADV filing dated March 20, 2026 (100% discretionary)."
    },
    {
      "q": "How have Palos Management Inc.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Palos Management Inc.: Regulatory assets under management: $151,275,854 in the October 2021 data and $12,051,303 in the October 2026 data, down 92%. Total employees: 12 in October 2021 and 18 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Palos Management Inc. serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (8)."
    },
    {
      "q": "Which custodians does Palos Management Inc. use?",
      "a": "Palos Management Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Palos Management Inc. report any disciplinary disclosures?",
      "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/304309"
    },
    {
      "q": "Does Palos Management Inc. state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 20, 2026 says: \"There are no minimum investment amounts or conditions required for establishing an account managed by PMI. However, all clients are required to execute an agreement for services in order to establish a client arrangement with PMI.\""
    },
    {
      "q": "What changed in Palos Management Inc.'s recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $136,763,705 to $12,051,303 (-91%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 151275854.0,
      "total_employees": 12,
      "filing_date": "2021-07-19"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 332260143.0,
      "total_employees": 15,
      "filing_date": "2022-09-21"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 155369046.0,
      "total_employees": 19,
      "filing_date": "2023-03-25"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 128122803.0,
      "total_employees": 18,
      "filing_date": "2024-03-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 136763705.0,
      "total_employees": 15,
      "filing_date": "2025-03-26"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 12051303.0,
      "total_employees": 18,
      "filing_date": "2026-03-20"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $136,763,705 to $12,051,303 (-91%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 20, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "0.75% to 1.5% a year",
    "stated_maximum": null,
    "account_minimum": "None",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 0.75% to 1.5% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "The annual management fee for asset management services will typically be between 0.75% and 1.5 % of the value of the account, and is negotiable based on certain factors, such as the complexity of the client's situation"
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: None"
        ],
        "quotes": [
          "There are no minimum investment amounts or conditions required for establishing an account managed by PMI. However, all clients are required to execute an agreement for services in order to establish a client arrangement with PMI."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        0.75,
        1.5
      ],
      "max_pct": null,
      "account_minimum": 0.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "The annual management fee for asset management services will typically be between 0.75% and 1.5 % of the value of the account, and is negotiable based on certain factors, such as the complexity of the client's situation",
      "There are no minimum investment amounts or conditions required for establishing an account managed by PMI. However, all clients are required to execute an agreement for services in order to establish a client arrangement with PMI."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "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/palos-management-inc-montreal-quebec-304309.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 8,
      "fewer_than_5": false,
      "raum": 1813547.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 0,
      "fewer_than_5": true,
      "raum": 10237756.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports 3 disclosure items on Form ADV Item 11.",
  "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/304309",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}