{
  "crd_number": 306663,
  "slug": "reflection-asset-management-306663",
  "primary_business_name": "REFLECTION ASSET MANAGEMENT",
  "legal_name": "REFLECTION ASSET MANAGEMENT, LLC",
  "dbas": [
    "HARBOR RIDGE INVESTMENTS",
    "WMNOMICS",
    "WOELF ROYCE PRIVATE WEALTH MANAGEMENT, LLC"
  ],
  "city": null,
  "state": null,
  "country": null,
  "cbsa_code": null,
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2020-09-24",
  "years_registered": 6,
  "period": "2026-10-01",
  "filing_date": "2026-03-31",
  "carried_forward": false,
  "raum_total": 228900000.0,
  "raum_discretionary": 228900000.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 3,
  "advisory_employees": 2,
  "client_count_bucket": null,
  "clients_by_type": {
    "individuals": {
      "raum": 113900000.0,
      "count": 70
    },
    "investment_companies": {
      "raum": 115000000.0,
      "count": 2
    }
  },
  "compensation_types": [
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "educational_seminars",
    "financial_planning",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA",
    "CO",
    "NV",
    "SC"
  ],
  "websites": [
    "https://facebook.com/people/WMNomics/100089439481842",
    "https://harborridgeinv.com",
    "https://instagram.com/wmnomics",
    "https://linkedin.com/company/reflection-asset-management",
    "https://linkedin.com/company/wmnomics",
    "https://reflectionam.com",
    "https://twitter.com/ram_investment?lang=en",
    "https://wmnomics.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/306663",
  "city_as_filed": null,
  "url": "https://advisorcensus.com/firm/reflection-asset-management-306663",
  "display_name": "Reflection Asset Management",
  "summary": "Reflection Asset Management is an SEC-registered investment advisory firm, registered since 2020, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 31, 2026.",
  "citation": "AdvisorCensus. Reflection Asset Management (CRD 306663): 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"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Educational seminars/workshops"
  ],
  "quick_answers": [
    {
      "q": "How is Reflection Asset Management compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Reflection Asset Management reports these compensation arrangements: a percentage of assets under its management; hourly charges."
    },
    {
      "q": "How much does Reflection Asset Management charge?",
      "a": "Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 0.45% to 1.35% 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": "Is Reflection Asset Management registered with the SEC or a state?",
      "a": "Reflection Asset Management is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 306663."
    },
    {
      "q": "How much does Reflection Asset Management manage?",
      "a": "Reflection Asset Management reports $228,900,000 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary)."
    },
    {
      "q": "How have Reflection Asset Management's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Reflection Asset Management: Regulatory assets under management: $16,833,119 in the October 2021 data and $228,900,000 in the October 2026 data, up 1260%. Total employees: 2 in October 2021 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Reflection Asset Management serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (70); investment companies (2)."
    },
    {
      "q": "Which custodians does Reflection Asset Management use?",
      "a": "Reflection Asset Management'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 Reflection Asset Management 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/306663"
    },
    {
      "q": "What changed in Reflection Asset Management's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 1 to 2. Regulatory assets under management went from $164,950,000 to $228,900,000 (+39%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 16833119.0,
      "total_employees": 2,
      "filing_date": "2021-03-09"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 32435200.0,
      "total_employees": 1,
      "filing_date": "2022-03-23"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 62025173.0,
      "total_employees": 3,
      "filing_date": "2023-08-02"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 130865399.0,
      "total_employees": 2,
      "filing_date": "2024-03-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 164950000.0,
      "total_employees": 2,
      "filing_date": "2025-03-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 228900000.0,
      "total_employees": 3,
      "filing_date": "2026-03-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 1 to 2.",
        "Regulatory assets under management went from $164,950,000 to $228,900,000 (+39%)."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Registered or notice-filed in CA."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "Added the business name Harbor Ridge Investments.",
        "Registered or notice-filed in CO."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 31, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "0.45% to 1.35% a year",
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 0.45% to 1.35% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "Management fees are expected to range from 0.45% to 1.35% annually, are generally payable quarterly in arrears, and deducted from the client’s account."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        0.45,
        1.35
      ],
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Management fees are expected to range from 0.45% to 1.35% annually, are generally payable quarterly in arrears, and deducted from the client’s account."
    ],
    "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/reflection-asset-management-306663.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 70,
      "fewer_than_5": false,
      "raum": 113900000.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 2,
      "fewer_than_5": false,
      "raum": 115000000.0
    }
  ],
  "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/306663",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}