M4a3 provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, and financial planning. The firm advises 5 private funds.
M4a3 reports 65 clients. They include 60 high-net-worth individuals and 5 pooled investment vehicles. Of its assets, 88.2% ($284M across 324 accounts) are managed with discretion; $38M across 32 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| High-net-worth individuals | 92% | 90% |
| Pooled investment vehicles | 8% | 10% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 60 | $288M | 89.5% | $4.81M |
| Pooled investment vehicles | 5 | $33.7M | 10.5% | $6.74M |
| Total | 65 | $322M | 100% | $4.95M |
- Clients
- 60
- Regulatory AUM
- $288M
- AUM share
- 89.5%
- Avg. per client
- $4.81M
- Clients
- 5
- Regulatory AUM
- $33.7M
- AUM share
- 10.5%
- Avg. per client
- $6.74M
Total
- Clients
- 65
- Regulatory AUM
- $322M
- AUM share
- 100%
- Avg. per client
- $4.95M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 5
M4a3 charges up to 0.85% a year for its Investment Management Fees. The fee is billed in arrears.
Fee details and sources
Mandi Sherman owns 50% to 75% of M4a3. Michael Sherman is CEO; the leadership team includes Chief Compliance Officer Mandi Sherman. It has 6 employees, 3 of them in advisory roles.
Staff
- 6 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 50% to 75% of M4a3 LLC
Mandi Sherman
Control person · since April 2025
- Owns 25% to 50% of M4a3 LLC
Michael Sherman
Control person · since April 2025
M4a3’s regulatory assets grew Infinity× from $0 (July 2025) to $322M (March 2026); employees rose from 2 to 6.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $322M | 65 | 6 | 1 |
| Jul 2025July 2025 | $0 | 0 | 2 | 1 |
Besides its headquarters, M4a3 has 0 offices, with 1 listed address in 1 state.
Colorado · 1 listed address
- 820 Pearl Street, Ste F, BoulderHQ
Contact and registration details
- Legal name
- M4a3 LLC
- Headquarters
- 820 Pearl Street, Ste F, Boulder, CO 80302
- Website
- m4a3.com
- Phone
- 303-396-6204
- SEC file
- 801-132765
- Structure
- Delaware LLC
- Fiscal year end
- December
M4a3’s named custodians for separately managed accounts are Pershing ($110M, 67%) and Charles Schwab ($53.5M, 33%). M4a3 has custody of $322M for 50 clients.
- PershingPershing LLC · Jersey City, NJ · $110M67%
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $53.5M33%
What the accounts hold
- Other100%
- The firm did not have any assets as of the end of the fiscal year-end.100%
How many clients does M4a3 have?
M4a3 has 65 clients and manages $322 million for them, as of March 2026. They include 60 high-net-worth individuals and 5 pooled investment vehicles.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does M4a3 offer?
M4a3 provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, and financial planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does M4a3 charge?
M4a3 charges up to 0.85% a year for its Investment Management Fees. The fee is billed in arrears.
Source: DISCLOSURE BROCHURE FOR M4A3 LLC, filed 31 March 2026
Which custodians does M4a3 use?
M4a3’s separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $110M and Charles Schwab & Co., Inc. (Westlake, TX), with $53.5M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026
How many financial advisors does M4a3 have?
M4a3 has 3 investment adviser representatives registered with state securities authorities, out of 6 employees, and 3 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 M4a3 invest in?
At the end of its last fiscal year, M4a3’s separately managed accounts held 100% other. The 100% other category is described as: The Firm Did Not Have Any Assets As of the End of the Fiscal Year-End. It advises 5 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns M4a3?
M4a3’s direct owners are Michael Sherman (25% to 50%) and Mandi Sherman (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does M4a3 get paid?
M4a3 is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions 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 M4a3?
M4a3’s main office is at 820 Pearl Street, Ste F, Boulder, CO 80302. Its phone number is 303-396-6204. Its website is m4a3.com.