The Enterprise Investment provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, estate planning, and insurance. Financial planning was provided to 800 clients last fiscal year.
The Enterprise Investment reports 841 clients. They include 795 high-net-worth individuals and 46 pension and profit-sharing plans. Of its assets, 83.6% ($507M across 940 accounts) are managed with discretion; $99.7M across 166 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| High-net-worth individuals | 95% | 93% |
| Pension and profit-sharing plans | 5% | 7% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 795 | $564M | 92.9% | $709K |
| Pension and profit-sharing plans | 46 | $43.2M | 7.1% | $940K |
| Total | 841 | $607M | 100% | $722K |
- Clients
- 795
- Regulatory AUM
- $564M
- AUM share
- 92.9%
- Avg. per client
- $709K
- Clients
- 46
- Regulatory AUM
- $43.2M
- AUM share
- 7.1%
- Avg. per client
- $940K
Total
- Clients
- 841
- Regulatory AUM
- $607M
- AUM share
- 100%
- Avg. per client
- $722K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 800
The Enterprise Investment charges 0.25%–1.25% for its Investment Management Fees. The brochure does not state whether the rate is annual. The fee is billed in advance or in arrears and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning
- Financial planning and project work is billed hourly at $50 to $350 per hour, depending on project resource requirements, and invoiced monthly.
Norman Pappas owns 75% or more of The Enterprise Investment. The leadership team of The Enterprise Investment includes President Norman Pappas. It has 7 employees.
Leadership
- Norman PappasPresident & Chief Compliance Officer
- Edward AlbersDirector of Insurance
- Gil FeldmanDirector of Investments
- Adam OffermanRegistered Representative
- Andrew MarraCFO
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
- Gil J Feldman
- Norman Arthur Pappas
Staff
- 7 employees
- 7 in advisory functions
- 3 state-registered reps
- 7 broker-dealer reps
- 2 insurance agents
- Owns 75% or more of The Enterprise Investment Company
Norman Pappas
Control person · since June 1985
- Owns 10% to 25% of The Enterprise Investment Company
Edward Albers
since January 2014
- Owns 10% to 25% of The Enterprise Investment Company
Gil Feldman
since January 2014
- Owns 10% to 25% of The Enterprise Investment Company
Andrew Marra
Control person · since January 2014
The Enterprise Investment’s regulatory assets grew 2.3× from $259M (April 2021) to $607M (April 2026); clients rose from 330 to 841 and employees were 7 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $607M | 841 | 7 | 1 |
| April 2025 | $480M | 413 | 7 | 1 |
| April 2024 | $433M | 233 | 7 | 1 |
| April 2023 | $368M | 234 | 7 | 1 |
| June 2022 | $305M | 418 | 7 | 1 |
| April 2021 | $259M | 330 | 7 | 1 |
Besides its headquarters, The Enterprise Investment has 0 offices, with 1 listed address in Michigan.
Michigan · 1 listed address
- 30301 Northwestern Highway, Suite 200, Farmington HillsHQ
Other business names
The Enterprise Investment has reported 1 other business name to the SEC.
- Pappas Financial
Contact and registration details
- Legal name
- The Enterprise Investment Company
- Headquarters
- 30301 Northwestern Highway, Suite 200, Farmington Hills, MI 48334
- Website
- pappasfinancial.com
- Phone
- 248-539-8282
- SEC file
- 801-103471
- Founded
- 1985
- Structure
- Michigan corporation
- Fiscal year end
- January
The Enterprise Investment uses Charles Schwab ($427M, 70%), Fidelity ($175M, 29%) and SEI Investments Distribution ($5.49M, 1%) as custodians for its separately managed accounts. The Enterprise Investment does not have custody of client assets.
The filed custodian amounts total more than regulatory assets under management. Each amount is shown as filed.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $427M70%
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $175M29%
- SEI Investments DistributionSEI Investments Distribution Co. · Oaks, PA · $5.49M1%
At year end, The Enterprise Investment’s separately managed accounts were mostly in cash (61%) and funds (38%).
What the accounts hold
- Stocks1%
- Funds38%
- Cash61%
How many clients does The Enterprise Investment have?
The Enterprise Investment has 841 clients and manages $607 million for them, as of April 2026. They include 795 high-net-worth individuals and 46 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 29 April 2026
What services does The Enterprise Investment offer?
The Enterprise Investment provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, estate planning, and insurance.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does The Enterprise Investment charge?
The Enterprise Investment charges 0.25%–1.25% for its Investment Management Fees. The brochure does not state whether the rate is annual. The fee is billed in advance or in arrears and is negotiable.
Source: ENTERPRISE INVESTMENT CO. FORM ADV PART 2, filed 29 April 2026
Which custodians does The Enterprise Investment use?
The Enterprise Investment’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $427M, Fidelity Brokerage Services LLC (Smithfield, RI), with $175M and SEI Investments Distribution Co. (Oaks, PA), with $5.49M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 29 April 2026
How many financial advisors does The Enterprise Investment have?
The Enterprise Investment has 3 investment adviser representatives registered with state securities authorities, out of 7 employees, and 7 perform investment advisory functions. 7 employees are registered representatives of a broker-dealer and 2 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
What does The Enterprise Investment invest in?
At the end of its last fiscal year, The Enterprise Investment’s separately managed accounts held 61% cash and equivalents, 38% registered funds (mutual funds, ETFs, BDCs) and 1% exchange-traded equities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns The Enterprise Investment?
The Enterprise Investment’s direct owners are Norman Pappas (75% or more), Edward Albers (10% to 25%), Gil Feldman (10% to 25%) and Andrew Marra (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 29 April 2026
How does The Enterprise Investment get paid?
The Enterprise Investment is paid through a percentage of assets under management and hourly charges. 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
How do I contact The Enterprise Investment?
The Enterprise Investment’s main office is at 30301 Northwestern Highway, Suite 200, Farmington Hills, MI 48334. Its phone number is 248-539-8282. Its website is pappasfinancial.com.