# TRM Advisors LP

> 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.

- CRD: 321278
- Filed as: TRM ADVISORS LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Southfield, MI
- Filing period: October 2026
- Form ADV filing dated: May 4, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/321278
- AdvisorCensus page: https://advisorcensus.com/firm/trm-advisors-lp-southfield-mi-321278

## Quick answers

**How is TRM Advisors LP compensated?**
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.

**Where is TRM Advisors LP located?**
TRM Advisors LP's principal office is in Southfield, MI, according to its Form ADV.

**Is TRM Advisors LP registered with the SEC or a state?**
TRM Advisors LP is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 321278.

**How much does TRM Advisors LP manage?**
TRM Advisors LP reports $159,800,000 in regulatory assets under management in its Form ADV filing dated May 4, 2026 (100% discretionary).

**How have TRM Advisors LP's assets and staff changed since 2023?**
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.

**What types of clients does TRM Advisors LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (1); other (1).

**Does TRM Advisors LP 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/321278

**What changed in TRM Advisors LP's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $292,600,000 to $159,800,000 (-45%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $159,800,000
- Discretionary: $159,800,000
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $144,300,000 |
| Other | 1 | $15,500,000 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2024 (2 years)
- Employees: 9 total, 9 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- trmequity.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2023 | Not reported | Not reported | March 22, 2023 |
| October 2024 | $165,994,000 | 8 | July 10, 2024 |
| October 2025 | $292,600,000 | 9 | March 24, 2025 |
| October 2026 | $159,800,000 | 9 | May 4, 2026 |

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.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $292,600,000 to $159,800,000 (-45%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. TRM Advisors LP (CRD 321278): Form ADV filing data as of October 2026.