{"url":"https://nivawealth.com/firms/shellman-investment-management-316579","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/316579","regulatoryAum":209606890,"crd":"316579","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"7796785","suffix":null,"lastName":"Etcheverry","firstName":"Agustin","middleName":null},{"crd":"3162156","suffix":null,"lastName":"Shah","firstName":"Rajiv","middleName":"Kirit"},{"crd":"7986340","suffix":null,"lastName":"Tarigo Beretervide","firstName":"Ines","middleName":"Maria"}],"total":3,"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":"2022-07-06","regulatoryAum":0,"clients":0,"employees":2,"offices":1},{"filedOn":"2023-04-03","regulatoryAum":144702150,"clients":89,"employees":3,"offices":1},{"filedOn":"2024-06-24","regulatoryAum":139445177,"clients":102,"employees":3,"offices":1},{"filedOn":"2025-03-20","regulatoryAum":157298501,"clients":110,"employees":4,"offices":1},{"filedOn":"2026-03-24","regulatoryAum":209606890,"clients":134,"employees":4,"offices":1}],"secFileNumber":"801-123508","legalName":"Shellman Investment Management, LLC","displayName":"Shellman Investment Management","slug":"shellman-investment-management-316579","website":"https://shellmaninvest.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"2525 Ponce De Leon BLVD, #300","city":"Coral Gables","state":"FL","stateName":"Florida","country":"United States","postalCode":"33134"},"tradeNames":[],"registration":{"secApproved":"25 November 2022","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":1389601.7293233082,"staff":{"employees":4,"advisory":3,"brokerDealerReps":1,"insuranceAgents":0,"promoters":1},"aum":{"regulatory":209606890,"discretionary":209606890,"discretionaryAccounts":178,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":98,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":40,"regulatoryAum":36708956},{"label":"High-net-worth individuals","clients":93,"regulatoryAum":148108074},{"label":"Corporations and other businesses","clients":1,"regulatoryAum":24789860}],"feePrograms":[{"role":"main","program":"Portfolio management services","feeBasis":"marginal","fee_tiers":[{"to":1000000,"pct":1.22,"from":0},{"to":2000000,"pct":0.98,"from":1000000},{"to":3000000,"pct":0.74,"from":2000000},{"to":null,"pct":0.5,"from":3000000}],"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1024553","versionId":1024553,"ratePeriod":"annual","fee_billing":"advance","submittedOn":"2026-03-24","documentName":"SHELLMAN INVESTMENT MANAGEMENT, LLC FORM ADV PART 2 BROCHURE","fee_rate_low":0.5,"fee_rate_high":1.22,"fee_negotiable":false,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T17:03:53.91895+00:00","documents":[{"name":"SHELLMAN INVESTMENT MANAGEMENT, LLC FORM ADV PART 2 BROCHURE","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1024553","versionId":1024553,"submittedOn":"2026-03-24"}]},"custodians":[{"name":"Morgan Stanley & Co. LLC","shortName":"Morgan Stanley","location":"New York, NY","smaAssets":153067650},{"name":"Pershing LLC","shortName":"Pershing","location":"Jersey City, NJ","smaAssets":27317790}],"custodyNote":"Shellman Investment Management does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Stephanie Shellman","title":"Owner and Chief Executive Officer","crd":"4661329"},{"name":"Rajiv Shah","title":"Chief Compliance Officer","crd":"3162156"}],"ownership":[{"label":"Stephanie Shellman","detail":"Owner and chief executive officer in the 75% or more ownership band and a control person, since September 2008."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Florida","offices":1,"addresses":[{"street":"2525 Ponce De Leon BLVD, #300","city":"Coral Gables","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"786-655-6180","stateRegisteredReps":3,"otherAdviserReps":0,"compensation":["A percentage of assets under management"],"activities":["Portfolio management for individuals and/or small businesses"],"financialPlanningClients":null,"assetMix":[{"label":"U.S. government/agency bonds","percent":4},{"label":"Securities issued by registered investment companies or business development companies","percent":84},{"label":"Cash and cash equivalents","percent":12}],"privateFunds":0},"sources":{"adv1FilingDate":"24 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/316579/PDF/316579.pdf","brochureDate":"24 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1024553","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 Shellman Investment Management have?","answer":"Shellman Investment Management has 134 clients and manages $210 million for them, as of March 2026. They include 93 high-net-worth individuals, 40 individual clients and 1 corporate or other business client.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 24 March 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Shellman Investment Management offer?","answer":"Shellman Investment Management 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Shellman Investment Management charge?","answer":"Shellman Investment Management charges 0.50%–1.22% a year for its Portfolio management services. Each asset band is charged at its own rate. The fee is billed in advance and is not negotiable.","source":"SHELLMAN INVESTMENT MANAGEMENT, LLC FORM ADV PART 2 BROCHURE, filed 24 March 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Shellman Investment Management use?","answer":"Shellman Investment Management’s separately managed account assets are held at Morgan Stanley & Co. LLC (New York, NY), with $153M and Pershing LLC (Jersey City, NJ), with $27.3M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 March 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Shellman Investment Management have?","answer":"Shellman Investment Management has 3 investment adviser representatives registered with state securities authorities, out of 4 employees, and 3 perform investment advisory functions. 1 employee is a registered representative of a broker-dealer and 0 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 Shellman Investment Management invest in?","answer":"At the end of its last fiscal year, Shellman Investment Management’s separately managed accounts held 84% registered funds (mutual funds, ETFs, BDCs), 12% cash and equivalents and 4% U.S. government and agency bonds.","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 Shellman Investment Management?","answer":"Shellman Investment Management’s direct owner is Stephanie Shellman (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 24 March 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Shellman Investment Management get paid?","answer":"Shellman Investment 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Shellman Investment Management?","answer":"Shellman Investment Management’s main office is at 2525 Ponce De Leon BLVD, #300, Coral Gables, FL 33134. Its phone number is 786-655-6180. Its website is shellmaninvest.com.","source":"Form ADV Part 1A, Item 1.F, filed 24 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."}