{"url":"https://nivawealth.com/firms/morman-kaplan-brilliant-and-fransko-284251","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/284251","regulatoryAum":162655000,"crd":"284251","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"3191515","suffix":null,"lastName":"BRILLIANT","firstName":"ALAN","middleName":"JASON"},{"crd":"4365885","suffix":null,"lastName":"FRANSKO","firstName":"DAVID","middleName":"LEWIS"},{"crd":"3111747","suffix":null,"lastName":"KAPLAN","firstName":"MICHAEL","middleName":"TRUMAN"},{"crd":"1326740","suffix":null,"lastName":"MORMAN","firstName":"STEPHEN","middleName":"MARCUS"},{"crd":"6483761","suffix":null,"lastName":"SMITH","firstName":"CHANDLER","middleName":"RANDALL"},{"crd":"2986195","suffix":null,"lastName":"WHITE","firstName":"CYRIL","middleName":"STEPHEN"}],"total":6,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2024-03-22","regulatoryAum":119800000,"clients":330,"employees":6,"offices":1},{"filedOn":"2025-02-25","regulatoryAum":148170000,"clients":336,"employees":6,"offices":2},{"filedOn":"2026-03-18","regulatoryAum":162655000,"clients":353,"employees":7,"offices":2}],"secFileNumber":"801-129305","legalName":"Morman, Kaplan, Brilliant and Fransko, LLC","displayName":"Morman, Kaplan, Brilliant and Fransko","slug":"morman-kaplan-brilliant-and-fransko-284251","website":"https://fourfinancial.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://www.linkedin.com/company/four-financial-management","founded":null,"organization":"Michigan limited liability company","fiscalYearEnd":"December","headquarters":{"street":"777 E. 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Eisenhower Pkwy, Suite 740","city":"Ann Arbor","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"734-272-4322","stateRegisteredReps":6,"otherAdviserReps":6,"compensation":["A percentage of assets under management","Hourly charges","Fixed fees (other than subscription fees)"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"1-10","assetMix":[{"label":"Exchange-traded equity securities","percent":12},{"label":"U.S. government/agency bonds","percent":1},{"label":"Investment grade corporate bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":69},{"label":"Cash and cash equivalents","percent":4},{"label":"Other","percent":13,"detail":"Structured Products, Market-Linked CDS"}],"privateFunds":0},"sources":{"adv1FilingDate":"18 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/284251/PDF/284251.pdf","brochureDate":"18 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1021392","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Morman, Kaplan, Brilliant and Fransko have?","answer":"Morman, Kaplan, Brilliant and Fransko has 353 clients and manages $163 million for them, as of March 2026. They include 312 individual clients and 41 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 18 March 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Morman, Kaplan, Brilliant and Fransko offer?","answer":"Morman, Kaplan, Brilliant and Fransko provides financial planning, portfolio management for individuals and small businesses, and selecting other managers.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Morman, Kaplan, Brilliant and Fransko charge?","answer":"Morman, Kaplan, Brilliant and Fransko charges 0.25%–1.50% a year for its Portfolio Management Services. The fee is billed in advance and is negotiable.","source":"ADV PART 2A - FIRM BROCHURE, filed 18 March 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Morman, Kaplan, Brilliant and Fransko use?","answer":"Morman, Kaplan, Brilliant and Fransko’s separately managed account assets are held at LPL Financial LLC (Boston, MA), with $163M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 18 March 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Morman, Kaplan, Brilliant and Fransko have?","answer":"Morman, Kaplan, Brilliant and Fransko has 6 investment adviser representatives registered with state securities authorities, out of 7 employees, and 6 perform investment advisory functions. 6 employees are registered representatives of a broker-dealer and 5 employees are licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Morman, Kaplan, Brilliant and Fransko invest in?","answer":"At the end of its last fiscal year, Morman, Kaplan, Brilliant and Fransko’s separately managed accounts held 69% registered funds (mutual funds, ETFs, BDCs), 13% other, 12% exchange-traded equities, 4% cash and equivalents, 1% U.S. government and agency bonds and 1% investment grade corporate bonds. The 13% other category is described as: Structured Products, Market-Linked CDS.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Morman, Kaplan, Brilliant and Fransko?","answer":"Morman, Kaplan, Brilliant and Fransko’s direct owners are Michael Kaplan, Alan Brilliant, Stephen Morman and David Fransko, each holding 50% or less.","source":"Form ADV Part 1A, Schedules A and B, filed 18 March 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Morman, Kaplan, Brilliant and Fransko get paid?","answer":"Morman, Kaplan, Brilliant and Fransko is paid through a percentage of assets under management, hourly charges and fixed fees. 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Morman, Kaplan, Brilliant and Fransko?","answer":"Morman, Kaplan, Brilliant and Fransko’s main office is at 777 E. Eisenhower Pkwy, Suite 740, Ann Arbor, MI 48108. Its phone number is 734-272-4322. Its website is fourfinancial.com.","source":"Form ADV Part 1A, Item 1.F, filed 18 March 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}