{"url":"https://nivawealth.com/firms/shepherd-kaplan-128244","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/128244","regulatoryAum":10157050719,"crd":"128244","secFileNumber":"801-62349","legalName":"Shepherd Kaplan LLC","displayName":"Shepherd Kaplan","website":null,"founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"53 State Street, 23rd Floor","city":"Boston","state":"MA","stateName":"Massachusetts","country":"United States","postalCode":"02109-2820"},"tradeNames":[],"registration":{"secApproved":"20 October 2003","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":42,"advisory":24,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"discretionary":862247181,"discretionaryAccounts":115,"nonDiscretionary":9294803538,"nonDiscretionaryAccounts":1274,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Other investment advisers","clients":null,"regulatoryAum":10157050719}],"fees":[],"feeNotes":[],"custodians":[{"name":"Northern Trust Securities, Inc.","shortName":"Northern Trust Securities","location":"Boston, MA","smaAssets":5074861212}],"custodyNote":"Shepherd Kaplan has custody of $881.4M for 1 clients.","otherCustodians":[],"leadership":[{"name":"Peter Dilorenzo","title":"Chief Operating Officer, Member, Non-Voting Shares","crd":"6842439"},{"name":"Bayard Dodge","title":"Chief Compliance Officer","crd":"6067641"},{"name":"David Kaplan","title":"Co-CEO","crd":"2307318"},{"name":"David Shepherd","title":"Co-CEO","crd":"2284051"}],"ownership":[{"label":"Shepherd Kaplan Krochuk, LLC","detail":"Managing member in the 75% or more ownership band and a control person, since November 2017."},{"label":"David Shepherd","detail":"Indirect owner: a president of Frog Holdings, Inc. in the 75% or more band and a control person, since January 2020.","parent":"Frog Holdings, Inc."},{"label":"Frog Holdings, Inc.","detail":"Indirect owner: a member of Shepherd Kaplan Krochuk, LLC in the 25% to 50% band and a control person, since January 2020.","parent":"Shepherd Kaplan Krochuk, LLC"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"officesByState":[{"state":"Massachusetts","offices":1,"addresses":[{"street":"53 State Street, 23rd Floor","city":"Boston","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"617-896-1600","stateRegisteredReps":19,"otherAdviserReps":3,"compensation":["Other"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Portfolio management for businesses (other than small businesses) or institutional clients","Pension consulting services","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"1-10","assetMix":[{"label":"Exchange-traded equity securities","percent":9},{"label":"Non-exchange-traded equity securities","percent":3},{"label":"U.S. government/agency bonds","percent":1},{"label":"U.S. state and local bonds","percent":1},{"label":"Investment grade corporate bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":68},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":11},{"label":"Cash and cash equivalents","percent":6}],"privateFunds":0},"sources":{"adv1FilingDate":"31 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/128244/PDF/128244.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"What services does Shepherd Kaplan offer?","answer":"Shepherd Kaplan provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting 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":"Which custodians does Shepherd Kaplan use?","answer":"Shepherd Kaplan’s separately managed account assets are held at Northern Trust Securities, Inc. (Boston, MA), with $5,074,861,212. 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","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Shepherd Kaplan have?","answer":"Shepherd Kaplan has 19 investment adviser representatives registered with state securities authorities, out of 42 employees, and 24 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Shepherd Kaplan invest in?","answer":"At the end of its last fiscal year, Shepherd Kaplan’s separately managed accounts held 68% registered funds (mutual funds, ETFs, BDCs), 11% pooled vehicles (private funds and similar), 9% exchange-traded equities, 6% cash and equivalents, 3% non-exchange-traded equities, 1% U.S. government and agency bonds, 1% state and local bonds and 1% investment grade corporate bonds. It advises no private funds of its own.","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 Shepherd Kaplan?","answer":"Shepherd Kaplan is owned through a chain of holding companies by David Shepherd. Its direct owner is Shepherd Kaplan Krochuk, LLC (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 31 March 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Shepherd Kaplan get paid?","answer":"Shepherd Kaplan is paid through other arrangements. 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"}}],"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 Wealth 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."}