Delphi Management provides portfolio management for individuals and small businesses and portfolio management for institutions.
Delphi Management reports 26 clients. They include 23 high-net-worth individuals, 2 charitable organizations and 1 other investment adviser. Of its assets, 100.0% ($117M across 26 accounts) are managed with discretion. A wrap fee program the firm both sponsors and manages holds $18.5M. Of its clients, 8% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| High-net-worth individuals | 88% | 74% |
| Charitable organizations | 8% | 10% |
| Other investment advisers | 4% | 16% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 23 | $86.2M | 73.9% | $3.75M |
| Charitable organizations | Fewer than 5 | $12M | 10.3% | $6M |
| Other investment advisers | Fewer than 5 | $18.5M | 15.8% | $18.5M |
| Total | 26 | $117M | 100% | — |
- Clients
- 23
- Regulatory AUM
- $86.2M
- AUM share
- 73.9%
- Avg. per client
- $3.75M
- Clients
- Fewer than 5
- Regulatory AUM
- $12M
- AUM share
- 10.3%
- Avg. per client
- $6M
- Clients
- Fewer than 5
- Regulatory AUM
- $18.5M
- AUM share
- 15.8%
- Avg. per client
- $18.5M
Total
- Clients
- 26
- Regulatory AUM
- $117M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 8%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Delphi Management charges 0.50%–1.00% for its Separately managed accounts. The brochure does not state whether the rate is annual. The fee is billed in arrears and is negotiable.
Fee details and sources
Scott Black owns 75% or more of Delphi Management. The leadership team of Delphi Management includes President Scott Black. It has 4 employees.
Leadership
Scott BlackChairman/President/Chief Compliance Officer
Staff
- 4 employees
- 4 in advisory functions
- Owns 75% or more of Delphi Management Inc
Scott Black
Control person · since January 1983
Delphi Management’s regulatory assets went from $111M (June 2021) to $117M (March 2026); clients fell from 29 to 26 and employees were 4 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $117M | 26 | 4 | 1 |
| March 2025 | $132M | 26 | 4 | 1 |
| April 2024 | $123M | 36 | 4 | 1 |
| April 2023 | $103M | 28 | 4 | 1 |
| April 2022 | $116M | 29 | 4 | 1 |
| June 2021 | $111M | 29 | 4 | 1 |
Besides its headquarters, Delphi Management has 0 offices, with 1 listed address with no US state reported.
Contact and registration details
- Legal name
- Delphi Management Inc
- Headquarters
- Not reported
- Website
- delphivalue.com
- Phone
- 617-738-9424
- SEC file
- 801-18367
- Structure
- Massachusetts corporation
- Fiscal year end
- December
Delphi Management uses FNZ Trust ($72.7M, 66%), Morgan Stanley ($21.3M, 19%) and Bank New York Mellon ($15.4M, 14%) as custodians for its separately managed accounts. Delphi Management does not have custody of client assets.
- Bank New York MellonBank New York Mellon · New York, NY · $15.4M14%
- Morgan StanleyMorgan Stanley Wealth Management · New York, NY · $21.3M19%
- FNZ TrustFNZ Trust Company · Boston, MA · $72.7M66%
At year end, Delphi Management’s separately managed accounts were mostly in stocks (84%) and cash (11%).
What the accounts hold
- Stocks84%
- Funds5%
- Cash11%
How many clients does Delphi Management have?
Delphi Management has 26 clients and manages $117 million for them, as of March 2026. They include 23 high-net-worth individuals, 2 charitable organizations and 1 other investment adviser.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026
What services does Delphi Management offer?
Delphi Management provides portfolio management for individuals and small businesses and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Delphi Management charge?
Delphi Management charges 0.50%–1.00% for its Separately managed accounts. The brochure does not state whether the rate is annual. The fee is billed in arrears and is negotiable.
Source: DELPHI MANAGEMENT ANNUAL AMENDMENT 2025, filed 30 March 2026
Which custodians does Delphi Management use?
Delphi Management’s separately managed account assets are held at FNZ Trust Company (Boston, MA), with $72.7M, Morgan Stanley Wealth Management (New York, NY), with $21.3M and Bank New York Mellon (New York, NY), with $15.4M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026
How many financial advisors does Delphi Management have?
Delphi Management has 0 investment adviser representatives registered with state securities authorities, out of 4 employees, and 4 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Delphi Management invest in?
At the end of its last fiscal year, Delphi Management’s separately managed accounts held 84% exchange-traded equities, 11% cash and equivalents and 5% registered funds (mutual funds, ETFs, BDCs).
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Delphi Management?
Delphi Management’s direct owner is Scott Black (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026
How does Delphi Management get paid?
Delphi Management is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Delphi Management?
Its phone number is 617-738-9424. Its website is delphivalue.com.