Mandalay Financial provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, and educational seminars. Financial planning was provided to 26–50 clients last fiscal year.
Mandalay Financial reports 113 clients. They include 72 high-net-worth individuals and 41 individual clients. Of its assets, 0.0% ($0 across 0 accounts) are managed with discretion; $171M across 114 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 36% | 4% |
| High-net-worth individuals | 64% | 96% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 41 | $7.71M | 4.5% | $188K |
| High-net-worth individuals | 72 | $164M | 95.5% | $2.27M |
| Total | 113 | $171M | 100% | $1.52M |
- Clients
- 41
- Regulatory AUM
- $7.71M
- AUM share
- 4.5%
- Avg. per client
- $188K
- Clients
- 72
- Regulatory AUM
- $164M
- AUM share
- 95.5%
- Avg. per client
- $2.27M
Total
- Clients
- 113
- Regulatory AUM
- $171M
- AUM share
- 100%
- Avg. per client
- $1.52M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 26–50
Mandalay Financial charges 1.00% for its Standard advisory fee. The brochure does not state whether the rate is annual. The fee is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Plan Design
- Design fee of $1,000 to $5,000, charged hourly or as a fixed fee; negotiable and may be waived.
Michael Kuznicki owns 75% or more of Mandalay Financial. The leadership team of Mandalay Financial includes President Michael Kuznicki. It has 3 employees, 2 of them in advisory roles.
Leadership
- Michael KuznickiPresident & Chief Compliance Officer
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
Staff
- 3 employees
- 2 in advisory functions
- 2 state-registered reps
- 1 insurance agent
- Owns 75% or more of Mandalay Financial, L.L.C.
Michael Kuznicki
Control person · since January 1999
Mandalay Financial’s regulatory assets went from $170M (March 2021) to $171M (March 2026); clients fell from 160 to 113 and employees were 3 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $171M | 113 | 3 | 1 |
| Mar 2025March 2025 | $186M | 121 | 3 | 1 |
| Mar 2024March 2024 | $187M | 168 | 4 | 1 |
| Mar 2023March 2023 | $176M | 146 | 4 | 1 |
| Mar 2022March 2022 | $176M | 146 | 4 | 1 |
| Mar 2021March 2021 | $170M | 160 | 3 | 1 |
Besides its headquarters, Mandalay Financial has 0 offices, with 1 listed address in 1 state.
Texas · 1 listed address
- 6750 West Loop South, Suite 1080, BellaireHQ
Contact and registration details
- Legal name
- Mandalay Financial, L.L.C.
- Headquarters
- 6750 West Loop South, Suite 1080, Bellaire, TX 77401
- Website
- ridgebackcm.com
- Phone
- 713-667-4026
- @84522832
- SEC file
- 801-79515
- Structure
- Texas LLC
- Fiscal year end
- December
Mandalay Financial does not have custody of client assets.
At year end, Mandalay Financial’s separately managed accounts were mostly in funds (57%) and stocks (25%).
What the accounts hold
- Stocks25%
- Funds57%
- Bonds12%
- Cash6%
How many clients does Mandalay Financial have?
Mandalay Financial has 113 clients and manages $171 million for them, as of March 2026. They include 72 high-net-worth individuals and 41 individual clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026
What services does Mandalay Financial offer?
Mandalay Financial provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Mandalay Financial charge?
Mandalay Financial charges 1.00% for its Standard advisory fee. The brochure does not state whether the rate is annual. The fee is negotiable.
Source: RIDGEBACK CAPITAL MANAGEMENT ADV 2A, filed 30 March 2026
How many financial advisors does Mandalay Financial have?
Mandalay Financial has 2 investment adviser representatives registered with state securities authorities, out of 3 employees, and 2 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 1 employee is a licensed insurance agent.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Mandalay Financial invest in?
At the end of its last fiscal year, Mandalay Financial’s separately managed accounts held 57% registered funds (mutual funds, ETFs, BDCs), 25% exchange-traded equities, 12% state and local bonds and 6% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Mandalay Financial?
Mandalay Financial’s direct owner is Michael Kuznicki (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026
How does Mandalay Financial get paid?
Mandalay Financial is paid through a percentage of assets under management and hourly charges. 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 Mandalay Financial?
Mandalay Financial’s main office is at 6750 West Loop South, Suite 1080, Bellaire, TX 77401. Its phone number is 713-667-4026. Its website is ridgebackcm.com.