{
  "crd_number": 128244,
  "slug": "shepherd-kaplan-llc-boston-ma-128244",
  "primary_business_name": "SHEPHERD KAPLAN LLC",
  "legal_name": "SHEPHERD KAPLAN LLC",
  "dbas": [],
  "city": "Boston",
  "state": "MA",
  "country": "United States",
  "cbsa_code": "14460",
  "metro": {
    "cbsa_code": "14460",
    "common_name": "Boston",
    "msa_name": "Boston-Cambridge-Newton, MA-NH",
    "path": "/advisors/ma/boston"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2003-10-20",
  "years_registered": 22,
  "period": "2026-10-01",
  "filing_date": "2026-03-31",
  "carried_forward": false,
  "raum_total": 10157050719.0,
  "raum_discretionary": 862247181.0,
  "raum_non_discretionary": 9294803538.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 42,
  "advisory_employees": 24,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other_investment_advisers": {
      "raum": 10157050719.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "other"
  ],
  "advisory_activities": [
    "financial_planning",
    "pension_consulting",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA",
    "CO",
    "DC",
    "FL",
    "MA",
    "MD",
    "NY",
    "PA",
    "TX",
    "VA"
  ],
  "websites": [
    "https://linkedin.com/COMPANY/SHEPHERD-KAPLAN-KROCHUK",
    "https://linkedin.com/COMPANY/SHEPHERD-KAPLAN-LLC",
    "https://sk-llc.com",
    "https://skk-llc.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/128244",
  "city_as_filed": "BOSTON",
  "url": "https://advisorcensus.com/firm/shepherd-kaplan-llc-boston-ma-128244",
  "display_name": "Shepherd Kaplan LLC",
  "summary": "Shepherd Kaplan LLC is an SEC-registered investment advisory firm in Boston, MA, registered since 2003, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.",
  "citation": "AdvisorCensus. Shepherd Kaplan LLC (CRD 128244): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "Other"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Pension consulting services",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Shepherd Kaplan LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Shepherd Kaplan LLC reports these compensation arrangements: other. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Shepherd Kaplan LLC located?",
      "a": "Shepherd Kaplan LLC's principal office is in Boston, MA, according to its Form ADV."
    },
    {
      "q": "Is Shepherd Kaplan LLC registered with the SEC or a state?",
      "a": "Shepherd Kaplan LLC is an SEC-registered investment advisory firm, registered since 2003. Status as filed: Approved. CRD 128244."
    },
    {
      "q": "How much does Shepherd Kaplan LLC manage?",
      "a": "Shepherd Kaplan LLC reports $10,157,050,719 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (8% discretionary)."
    },
    {
      "q": "How have Shepherd Kaplan LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Shepherd Kaplan LLC: Regulatory assets under management: $7,408,215,042 in the October 2021 data and $10,157,050,719 in the October 2026 data, up 37%. Total employees: 43 in October 2021 and 42 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "Which custodians does Shepherd Kaplan LLC use?",
      "a": "Shepherd Kaplan LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Northern Trust Securities, Inc. as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Shepherd Kaplan 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/128244"
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 7408215042.0,
      "total_employees": 43,
      "filing_date": "2021-09-22"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 8511576009.0,
      "total_employees": 44,
      "filing_date": "2022-07-12"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 7629797085.0,
      "total_employees": 42,
      "filing_date": "2023-05-04"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 8617780105.0,
      "total_employees": 43,
      "filing_date": "2024-03-28"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 9398575271.0,
      "total_employees": 46,
      "filing_date": "2025-03-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 10157050719.0,
      "total_employees": 42,
      "filing_date": "2026-03-31"
    }
  ],
  "recent_changes": [],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Northern Trust Securities, Inc.",
      "name_as_filed": "NORTHERN TRUST SECURITIES, 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/shepherd-kaplan-llc-boston-ma-128244.md",
  "clients": [
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": null,
      "fewer_than_5": true,
      "raum": 10157050719.0
    }
  ],
  "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/128244",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}