AdvisorCensus / Financial advisors / Maryland / Baltimore / Shaker Financial Services
Shaker Financial Services
Filed as SHAKER FINANCIAL SERVICES · Legal name Shaker Financial Services, LLC
Shaker Financial Services is an SEC-registered investment advisory firm in Annapolis, MD, registered since 2004, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 27, 2026.
Quick answers
From the filingHow is Shaker Financial Services compensated?
On its Form ADV (Item 5.E, October 2026), Shaker Financial Services reports these compensation arrangements: a percentage of assets under its management.
How much does Shaker Financial Services charge?
Its Form ADV Part 2A brochure dated March 27, 2026 states: Up to $1,000,000: 1.5% a year; $1,000,001 to $3,000,000: 1.3% a year; $3,000,001 to $5,000,000: 1.1% a year; Above $5,000,001: 1% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Shaker Financial Services located?
Shaker Financial Services' principal office is in Annapolis, MD, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).
Is Shaker Financial Services registered with the SEC or a state?
Shaker Financial Services is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 121534.
How much does Shaker Financial Services manage?
Shaker Financial Services reports $286,320,400 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).
How have Shaker Financial Services' assets and staff changed since 2021?
In the Form ADV data for Shaker Financial Services: Regulatory assets under management: $217,002,537 in the October 2021 data and $286,320,400 in the October 2026 data, up 32%. Total employees: 7 in October 2021 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Shaker Financial Services serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (228); high net worth individuals (101).
Does Shaker Financial Services 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/121534
Does Shaker Financial Services state an account minimum?
Its Form ADV Part 2A brochure dated March 27, 2026 says: "SFS’s minimum account size is generally $ 100,000, but this amount is negotiable based upon extenuating circumstances."
What changed in Shaker Financial Services' recent Form ADV filings?
In the January 2026 filing data: No longer registered or notice-filed in NM.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2A| Assets | Annual rate |
|---|---|
| Up to $1,000,000 | 1.5% |
| $1,000,001 to $3,000,000 | 1.3% |
| $3,000,001 to $5,000,000 | 1.1% |
| Above $5,000,001 | 1% |
The brochure's wording
Asset-based management fees are charged quarterly in advance, as agreed to with the client, based on a percentage of the client's assets under management at the beginning of the calendar quarter and are not negotiable.
The fee schedule for new accounts is: Assets Under Management: Annual Fee: Less Than $1,000,000 1.50% $1,000,001 - $3,000,000 1.30% $3,000,001-$5,000,000 1.10% $5,000,001+ 1.00%
Account minimum: $100,000 (the brochure says it may be waived or negotiated)
The brochure's wording
SFS’s minimum account size is generally $ 100,000, but this amount is negotiable based upon extenuating circumstances.
As stated in the firm's Form ADV Part 2A brochure dated March 27, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$286,320,400 as of October 2026, filing dated March 27, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for individuals and/or small businesses
Registration and firm details
Items 1, 2, 5- Legal name
- Shaker Financial Services, LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2004 (22 years)
- Employees
- Total: 6. Performing investment advisory functions: 2.
- Wrap fee program participation
- No.
- Other offices (Schedule D, Section 1.F)
-
1 other office, as of the April 2026 filing
- States registered or notice-filed
-
16 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $286,320,400 | 6 | March 27, 2026 |
| October 2025 | $260,612,020 | 6 | March 26, 2025 |
| October 2024 | $228,387,456 | 8 | March 27, 2024 |
| October 2023 | $207,583,087 | 8 | March 29, 2023 |
| October 2022 | $265,941,983 | 8 | March 30, 2022 |
| October 2021 | $217,002,537 | 7 | March 29, 2021 |
Regulatory assets under management: $217,002,537 in the October 2021 data and $286,320,400 in the October 2026 data, up 32%.
Total employees: 7 in October 2021 and 6 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- January 2026
- No longer registered or notice-filed in NM.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Shaker Financial Services (CRD 121534): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/shaker-financial-services-annapolis-md-121534