Shaker Financial Services provides portfolio management for individuals and small businesses.
Shaker Financial Services reports 329 clients. They include 228 individual clients and 101 high-net-worth individuals. Of its assets, 100.0% ($286M across 588 accounts) are managed with discretion. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 69% | 27% |
| High-net-worth individuals | 31% | 73% |
| Banking or thrift institutions | Fewer than 5 | 0% |
| Pension and profit-sharing plans | Fewer than 5 | 0% |
| Charitable organizations | Fewer than 5 | 0% |
| Other client typesState or municipal government entities; Other investment advisers; Insurance companies; Sovereign wealth funds and foreign official institutions; Corporations and other businesses | Not reported | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 228 | $76.7M | 26.8% | $336K |
| High-net-worth individuals | 101 | $209M | 72.9% | $2.07M |
| Banking or thrift institutions | Fewer than 5 | $0 | 0.0% | — |
| Pension and profit-sharing plans | Fewer than 5 | $0 | 0.0% | — |
| Charitable organizations | Fewer than 5 | $0 | 0.0% | — |
| State or municipal government entities | Fewer than 5 | $0 | 0.0% | — |
| Other investment advisers | Fewer than 5 | $985K | 0.3% | — |
| Insurance companies | Fewer than 5 | $0 | 0.0% | — |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $0 | 0.0% | — |
| Corporations and other businesses | Fewer than 5 | $0 | 0.0% | — |
| Total | 329 | $286M | 100% | — |
- Clients
- 228
- Regulatory AUM
- $76.7M
- AUM share
- 26.8%
- Avg. per client
- $336K
- Clients
- 101
- Regulatory AUM
- $209M
- AUM share
- 72.9%
- Avg. per client
- $2.07M
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $985K
- AUM share
- 0.3%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
Total
- Clients
- 329
- Regulatory AUM
- $286M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Shaker Financial Services charges 1.00%–1.50% a year for its Asset-Based Management Fees. The fee is billed in advance and is not negotiable.
Fee details and sources
Robert Shaker owns 50% to 75% of Shaker Financial Services. The leadership team of Shaker Financial Services includes Chief Compliance Officer Robert Shaker. It has 6 employees, 2 of them in advisory roles.
Leadership
- Robert ShakerChief Compliance Officer
- Kathryn BaummerPartner
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
- Daniel Richard Gordon
- Robert M. Shaker
Staff
- 6 employees
- 2 in advisory functions
- 2 state-registered reps
- Owns 50% to 75% of Shaker Financial Services, LLC
Robert Shaker
Control person · since September 2004
- Owns 50% to 75% of Shaker Financial Services, LLC
Kathryn Baummer
Control person · since September 2007
Shaker Financial Services’ regulatory assets grew from $217M (March 2021) to $286M (March 2026); clients fell from 352 to 329 and employees from 7 to 6.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $286M | 329 | 6 | 3 |
| March 2025 | $261M | 371 | 6 | 3 |
| March 2024 | $228M | 360 | 8 | 3 |
| March 2023 | $208M | 368 | 8 | 3 |
| March 2022 | $266M | 359 | 8 | 3 |
| March 2021 | $217M | 352 | 7 | 3 |
Besides its headquarters, Shaker Financial Services has 2 offices (1 private residence, listed without an address), with 2 listed addresses in Maryland and Virginia.
Maryland · 1 listed address
- 1997 Annapolis Exchange Parkway, Suite 300-349, AnnapolisHQ
Virginia · 1 listed address
- 110 N Glebe Road, Arlington
Contact and registration details
- Legal name
- Shaker Financial Services, LLC
- Headquarters
- 1997 Annapolis Exchange Parkway, Suite 300-349, Annapolis, MD 21401
- Website
- Not reported
- Phone
- 410-224-0572
- SEC file
- 801-62679
- Founded
- 1995
- Structure
- Maryland LLC
- Fiscal year end
- December
Shaker Financial Services does not have custody of client assets.
At year end, Shaker Financial Services’ separately managed accounts were mostly in funds (97%). Its reported 13F holdings for the quarter ended 30 June 2026 total $319M across 148 positions; the largest are Gabelli Equity TR Inc. (3.7%), Royce Small Cap Trust Inc. (3.5%) and Liberty All Star Equity FD (3.0%).
What the accounts hold
- Stocks2%
- Funds97%
- Cash1%
Reported 13F holdings
- $319M
- Reported 13F value
- 148
- Positions
- 26.9%
- In the 10 largest
- +11.3%
- Value vs. prior quarter
- Gabelli Equity TR Inc.3.7%
- Royce Small Cap Trust Inc.3.5%
- Liberty All Star Equity FD · SH Ben Int3.0%
- Special Opportunities FD Inc.2.8%
- Nuveen Core Equity Alpha FD2.7%
- Liberty All-star Growth FD I2.6%
- First TR Enhanced Equity2.3%
- Source Capital · Com Shs OF Ben I2.2%
- Eaton Vance Tax Mnged Buy WR2.1%
- Eaton Vance Enhanced Equity1.9%
Together, the ten largest are 26.9% of reported value.
How many clients does Shaker Financial Services have?
Shaker Financial Services has 329 clients and manages $286 million for them, as of March 2026. They include 228 individual clients and 101 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 March 2026
What services does Shaker Financial Services offer?
Shaker Financial Services provides portfolio management for individuals and small businesses.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Shaker Financial Services charge?
Shaker Financial Services charges 1.00%–1.50% a year for its Asset-Based Management Fees. The fee is billed in advance and is not negotiable.
How many financial advisors does Shaker Financial Services have?
Shaker Financial Services has 2 investment adviser representatives registered with state securities authorities, out of 6 employees, and 2 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 Shaker Financial Services invest in?
At the end of its last fiscal year, Shaker Financial Services’ separately managed accounts held 97% registered funds (mutual funds, ETFs, BDCs), 2% exchange-traded equities and 1% 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 Shaker Financial Services?
Shaker Financial Services’ direct owners are Robert Shaker (50% to 75%) and Kathryn Baummer (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 27 March 2026
How does Shaker Financial Services get paid?
Shaker Financial Services 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
Is Shaker Financial Services registered with the SEC?
Yes, Shaker Financial Services has been registered with the SEC as an investment adviser since 23 January 2004. Its CRD number is 121534 and its SEC file number is 801-62679.
Source: Form ADV Part 1A, Item 1, filed 27 March 2026; IAPD firm record
How do I contact Shaker Financial Services?
Shaker Financial Services’ main office is at 1997 Annapolis Exchange Parkway, Suite 300-349, Annapolis, MD 21401. Its phone number is 410-224-0572.