Clients
Shepherd Kaplan Krochuk serves 213 clients, 83 of them high-net-worth individuals. The average client has about $51 million with the firm, and high-net-worth clients hold 14% of its $10.9 billion in assets.
- High-net-worth individuals83 clients14%
- Pooled investment vehicles16 clients11%
- Pension and profit-sharing plans18 clients68%
- Corporations and other businesses68 clients5%
- OtherIndividuals, Charitable organizations2%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 6 | $1,751,959 | 0.0% | $292K |
| High-net-worth individuals | 83 | $1,571,253,477 | 14.4% | $18.9M |
| Pooled investment vehicles | 16 | $1,193,390,038 | 11.0% | $74.6M |
| Pension and profit-sharing plans | 18 | $7,388,087,900 | 67.9% | $410.4M |
| Charitable organizations | 22 | $183,494,598 | 1.7% | $8.34M |
| Corporations and other businesses | 68 | $546,237,693 | 5.0% | $8.03M |
| Total | 213 | $10,884,215,665 | 100% | $51.1M |
- Clients
- 6
- Regulatory AUM
- $1,751,959
- Share
- 0.0%
- Avg. per client
- $292K
- Clients
- 83
- Regulatory AUM
- $1,571,253,477
- Share
- 14.4%
- Avg. per client
- $18.9M
- Clients
- 16
- Regulatory AUM
- $1,193,390,038
- Share
- 11.0%
- Avg. per client
- $74.6M
- Clients
- 18
- Regulatory AUM
- $7,388,087,900
- Share
- 67.9%
- Avg. per client
- $410.4M
- Clients
- 22
- Regulatory AUM
- $183,494,598
- Share
- 1.7%
- Avg. per client
- $8.34M
- Clients
- 68
- Regulatory AUM
- $546,237,693
- Share
- 5.0%
- Avg. per client
- $8.03M
Total
- Clients
- 213
- Regulatory AUM
- $10,884,215,665
- Share
- 100%
- Avg. per client
- $51.1M
What it does
Shepherd Kaplan Krochuk provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting and selecting other managers. It is paid through a percentage of assets and performance-based fees.
Shepherd Kaplan Krochuk provided financial planning to 101–250 clients last fiscal year and advises 58 private funds.
18.9% of assets ($2.06B across 131 accounts) are managed with discretion; $8.83B across 1,274 accounts are not. 0% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks12%
- Exchange-traded equities9%
- Non-exchange-traded equities3%
- Funds79%
- Registered funds68%
- Pooled vehicles11%
- Bonds3%
- U.S. government and agency bonds1%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash6%
Custodians
Shepherd Kaplan Krochuk’s client accounts are held mainly at Northern Trust Securities, with 47% of managed assets. Shepherd Kaplan Krochuk has custody of client assets.
- Northern Trust SecuritiesNorthern Trust Securities, Inc. · Boston, MA · $5.07B47%
- All other custodians$5.81B53%
Ownership and leadership
David Shepherd owns 25% to 50% of Shepherd Kaplan Krochuk.
- Owns 25% to 50% of Shepherd Kaplan Krochuk, LLC
David Shepherd
Control person · since November 2017
- Owns 25% to 50% of Shepherd Kaplan Krochuk, LLC
Frog Holdings, Inc.
Control person · since January 2020
- Owns 10% to 25% of Shepherd Kaplan Krochuk, LLC
Timothy Krochuk
Control person · since June 2001
- Owns 10% to 25% of Shepherd Kaplan Krochuk, LLC
David Kaplan
Control person · since November 2017
- Owns 10% to 25% of Shepherd Kaplan Krochuk, LLC
Stephen Brackett
Control person · since August 2019
- Owns 10% to 25% of Shepherd Kaplan Krochuk, LLC
Brian Lockhart
Control person · since February 2020
- Owns 10% to 25% of Shepherd Kaplan Krochuk, LLC
Gemini Holdings, Inc.
since January 2020
- Owns 10% to 25% of Shepherd Kaplan Krochuk, LLC
Iaft Holdings, Inc.
since January 2020
- Owns 10% to 25% of Shepherd Kaplan Krochuk, LLC
Brackett Holdings, Inc.
since January 2020
- Owns 10% to 25% of Shepherd Kaplan Krochuk, LLC
Venture Capital Consulting LLC
since February 2020
Leadership
- Stephen BrackettManagement Board, President
- Peter DilorenzoChief Operating Officer; Chief Information Security Officer
- Bayard DodgeChief Compliance Officer
- Timothy KrochukManagement Board
- David KaplanManagement Board
- David ShepherdManagement Board
- Brian LockhartManagement Board
Staff
- 34 employees
- 15 in advisory functions
- 8 state-registered reps
- 1 soliciting firm
Reported holdings
Shepherd Kaplan Krochuk’s reported 13F holdings total $125.9M across 62 positions, and the ten largest make up 50.7% of it.
- $125.9M
- Reported 13F value
- 62
- Positions
- 50.7%
- In the 10 largest
- +5.8%
- Value vs. prior quarter
- Vanguard Index Fds · Total Stk Mkt9.9%
- Apple Inc.7.0%
- iShares TR · MSCI USA Min ETF6.4%
- Vaneck ETF Trust · Fallen Angel HG6.4%
- Schwab Strategic TR · US Lcap VA ETF4.3%
- J P Morgan Exchange Traded F · US Qualty Fctr4.1%
- iShares TR · MSCI USA Mmentm3.2%
- First TR Exchange-traded FD3.2%
- Energy Transfer L P · Com UT Ltd Ptn3.1%
- iShares TR · Core S&P Scp ETF2.9%
Together, the ten largest are 50.7% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $125.9M is not its $10.88B in regulatory assets and does not represent any individual client's portfolio.
Fees
Shepherd Kaplan Krochuk is paid through a percentage of assets under management and performance-based fees.
Shepherd Kaplan Krochuk’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Shepherd Kaplan Krochuk has 0 offices, with 1 listed address in 1 state.
Massachusetts · 1 listed address
- 53 State Street, 23rd Floor, BostonHQ
Registration details
- Legal name
- Shepherd Kaplan Krochuk, LLC
- Headquarters
- 53 State Street, 23rd Floor, Boston, MA 02109-2820
- Phone
- 617-896-1600
- Website
- Not reported
- SEC file
- 801-62286
- Structure
- Delaware LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Shepherd Kaplan Krochuk have?
Shepherd Kaplan Krochuk has 213 clients and manages $10.9 billion for them, as of March 2026. They include 83 high-net-worth individuals, 68 corporations and other businesses and 22 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does Shepherd Kaplan Krochuk offer?
Shepherd Kaplan Krochuk provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, 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
Which custodians does Shepherd Kaplan Krochuk use?
Shepherd Kaplan Krochuk’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
How many financial advisors does Shepherd Kaplan Krochuk have?
Shepherd Kaplan Krochuk has 8 investment adviser representatives registered with state securities authorities, out of 34 employees, and 15 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 Shepherd Kaplan Krochuk invest in?
At the end of its last fiscal year, Shepherd Kaplan Krochuk’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 58 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Shepherd Kaplan Krochuk?
Shepherd Kaplan Krochuk’s direct owners are Timothy Krochuk, David Kaplan, David Shepherd, Stephen Brackett, Brian Lockhart, Frog Holdings, Inc., Gemini Holdings, Inc., Iaft Holdings, Inc., Brackett Holdings, Inc. and Venture Capital Consulting LLC, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does Shepherd Kaplan Krochuk get paid?
Shepherd Kaplan Krochuk is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file