# The Enterprise Investment Company

> The Enterprise Investment Company is an SEC-registered investment advisory firm in Farmington Hills, MI, registered since 2015, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated April 29, 2026.

- CRD: 116889
- Filed as: THE ENTERPRISE INVESTMENT COMPANY
- Also doing business as: PAPPAS FINANCIAL
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Farmington Hills, MI
- Filing period: October 2026
- Form ADV filing dated: April 29, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/116889
- AdvisorCensus page: https://advisorcensus.com/firm/the-enterprise-investment-company-farmington-hills-mi-116889

## Quick answers

**How is The Enterprise Investment Company compensated?**
On its Form ADV (Item 5.E, October 2026), The Enterprise Investment Company reports these compensation arrangements: a percentage of assets under its management; hourly charges.

**How much does The Enterprise Investment Company charge?**
Its Form ADV Part 2A brochure dated April 29, 2026 states: Hourly rate: $50 to $350 an hour (planning, specialized research, and review of outside investments, as well…). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is The Enterprise Investment Company located?**
The Enterprise Investment Company's principal office is in Farmington Hills, MI, according to its Form ADV.

**Is The Enterprise Investment Company registered with the SEC or a state?**
The Enterprise Investment Company is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 116889.

**How much does The Enterprise Investment Company manage?**
The Enterprise Investment Company reports $607,092,382 in regulatory assets under management in its Form ADV filing dated April 29, 2026 (84% discretionary).

**How have The Enterprise Investment Company's assets and staff changed since 2021?**
In the Form ADV data for The Enterprise Investment Company: Regulatory assets under management: $258,951,360 in the October 2021 data and $607,092,382 in the October 2026 data, up 134%. Total employees: 7 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does The Enterprise Investment Company serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (795); pension and profit sharing plans (but not the plan participants or government pension plans) (46).

**Which custodians does The Enterprise Investment Company use?**
The Enterprise Investment Company's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC and SEI Investments Distribution Co. as custodians holding 10% or more of its separately managed account assets.

**Does The Enterprise Investment Company 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/116889

**What changed in The Enterprise Investment Company's recent Form ADV filings?**
In the May 2026 filing data: Regulatory assets under management went from $479,569,513 to $607,092,382 (+27%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges

### Fees and minimums (Form ADV Part 2A brochure dated April 29, 2026)

- Hourly rate: $50 to $350 an hour (planning, specialized research, and review of outside investments, as well…)

> Financial planning clients may be charged hourly fees ranging from $50-$350 per hour depending on project resource requirements. This includes charges for planning, specialized research, and review of outside investments, as well as a total financial review.

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC
- SEI Investments Distribution Co.

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: $607,092,382
- Discretionary: $507,427,985
- Non-discretionary: $99,664,397

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 795 | $563,849,432 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 46 | $43,242,950 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Pension consulting services
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2015 (11 years)
- Employees: 7 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MI, NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [pappasfinancial.com](https://pappasfinancial.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $258,951,360 | 7 | April 28, 2021 |
| October 2022 | $305,358,753 | 7 | June 10, 2022 |
| October 2023 | $368,005,328 | 7 | September 21, 2023 |
| October 2024 | $432,711,827 | 7 | April 22, 2024 |
| October 2025 | $479,569,513 | 7 | April 25, 2025 |
| October 2026 | $607,092,382 | 7 | April 29, 2026 |

Regulatory assets under management: $258,951,360 in the October 2021 data and $607,092,382 in the October 2026 data, up 134%.
Total employees: 7 in October 2021 and 7 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Regulatory assets under management went from $479,569,513 to $607,092,382 (+27%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. The Enterprise Investment Company (CRD 116889): Form ADV filing data as of October 2026.