{
  "crd_number": 321278,
  "slug": "trm-advisors-lp-southfield-mi-321278",
  "primary_business_name": "TRM ADVISORS LP",
  "legal_name": "TRM ADVISORS LP",
  "dbas": [],
  "city": "Southfield",
  "state": "MI",
  "country": "United States",
  "cbsa_code": "19820",
  "metro": {
    "cbsa_code": "19820",
    "common_name": "Detroit",
    "msa_name": "Detroit-Warren-Dearborn, MI",
    "path": "/advisors/mi/detroit"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2024-07-26",
  "years_registered": 2,
  "period": "2026-10-01",
  "filing_date": "2026-05-04",
  "carried_forward": false,
  "raum_total": 159800000.0,
  "raum_discretionary": 159800000.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 9,
  "advisory_employees": 9,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 15500000.0,
      "count": 1,
      "description": "DIRECT INVESTMENT",
      "fewer_than_5": true
    },
    "pooled_investment_vehicles": {
      "raum": 144300000.0,
      "count": 1
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "MI"
  ],
  "websites": [
    "https://trmequity.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/321278",
  "city_as_filed": "SOUTHFIELD",
  "url": "https://advisorcensus.com/firm/trm-advisors-lp-southfield-mi-321278",
  "display_name": "TRM Advisors LP",
  "summary": "TRM Advisors LP is an SEC-registered investment advisory firm in Southfield, MI, registered since 2024, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated May 4, 2026.",
  "citation": "AdvisorCensus. TRM Advisors LP (CRD 321278): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is TRM Advisors LP compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), TRM Advisors LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is TRM Advisors LP located?",
      "a": "TRM Advisors LP's principal office is in Southfield, MI, according to its Form ADV."
    },
    {
      "q": "Is TRM Advisors LP registered with the SEC or a state?",
      "a": "TRM Advisors LP is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 321278."
    },
    {
      "q": "How much does TRM Advisors LP manage?",
      "a": "TRM Advisors LP reports $159,800,000 in regulatory assets under management in its Form ADV filing dated May 4, 2026 (100% discretionary)."
    },
    {
      "q": "How have TRM Advisors LP's assets and staff changed since 2023?",
      "a": "In the Form ADV data for TRM Advisors LP: Regulatory assets under management: $165,994,000 in the October 2024 data and $159,800,000 in the October 2026 data, down 4%. Total employees: 8 in October 2024 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does TRM Advisors LP serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (1); other (1)."
    },
    {
      "q": "Does TRM Advisors LP 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/321278"
    },
    {
      "q": "What changed in TRM Advisors LP's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $292,600,000 to $159,800,000 (-45%)."
    }
  ],
  "filing_history": [
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": null,
      "total_employees": null,
      "filing_date": "2023-03-22"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 165994000.0,
      "total_employees": 8,
      "filing_date": "2024-07-10"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 292600000.0,
      "total_employees": 9,
      "filing_date": "2025-03-24"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 159800000.0,
      "total_employees": 9,
      "filing_date": "2026-05-04"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $292,600,000 to $159,800,000 (-45%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/trm-advisors-lp-southfield-mi-321278.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 1,
      "fewer_than_5": false,
      "raum": 144300000.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 1,
      "fewer_than_5": true,
      "raum": 15500000.0
    }
  ],
  "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/321278",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}