{"url":"https://nivawealth.com/firms/the-enterprise-investment-116889","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/116889","regulatoryAum":607092382,"crd":"116889","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"3161075","suffix":null,"lastName":"FELDMAN","firstName":"GIL","middleName":"J"},{"crd":"356173","suffix":null,"lastName":"PAPPAS","firstName":"NORMAN","middleName":"ARTHUR"}],"total":2,"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":"2021-04-28","regulatoryAum":258951360,"clients":330,"employees":7,"offices":1},{"filedOn":"2022-06-10","regulatoryAum":305358753,"clients":418,"employees":7,"offices":1},{"filedOn":"2023-04-28","regulatoryAum":368005328,"clients":234,"employees":7,"offices":1},{"filedOn":"2024-04-22","regulatoryAum":432711827,"clients":233,"employees":7,"offices":1},{"filedOn":"2025-04-25","regulatoryAum":479569513,"clients":413,"employees":7,"offices":1},{"filedOn":"2026-04-29","regulatoryAum":607092382,"clients":841,"employees":7,"offices":1}],"secFileNumber":"801-103471","legalName":"The Enterprise Investment Company","displayName":"The Enterprise Investment","slug":"the-enterprise-investment-116889","website":"https://pappasfinancial.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":"1985","organization":"Michigan corporation","fiscalYearEnd":"January","headquarters":{"street":"30301 Northwestern Highway, Suite 200","city":"Farmington Hills","state":"MI","stateName":"Michigan","country":"United States","postalCode":"48334"},"tradeNames":["Pappas Financial"],"registration":{"secApproved":"24 July 2015","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":709244.5685534591,"staff":{"employees":7,"advisory":7,"brokerDealerReps":7,"insuranceAgents":2,"promoters":0},"aum":{"regulatory":607092382,"discretionary":507427985,"discretionaryAccounts":940,"nonDiscretionary":99664397,"nonDiscretionaryAccounts":166,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"High-net-worth individuals","clients":795,"regulatoryAum":563849432},{"label":"Pension and profit-sharing plans","clients":46,"regulatoryAum":43242950}],"feePrograms":[{"role":"main","program":"Investment Management Fees","feeBasis":"range","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1043249","versionId":1043249,"ratePeriod":"not_stated","fee_billing":"both","submittedOn":"2026-04-29","documentName":"ENTERPRISE INVESTMENT CO. FORM ADV PART 2","fee_rate_low":0.25,"fee_rate_high":1.25,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Financial Planning","summary":"Financial planning and project work is billed hourly at $50 to $350 per hour, depending on project resource requirements, and invoiced monthly.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1043249","versionId":1043249,"submittedOn":"2026-04-29","documentName":"ENTERPRISE INVESTMENT CO. FORM ADV PART 2"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T08:39:42.606475+00:00","documents":[{"name":"ENTERPRISE INVESTMENT CO. FORM ADV PART 2","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1043249","versionId":1043249,"submittedOn":"2026-04-29"}]},"custodians":[{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"Westlake, TX","smaAssets":427040755},{"name":"Fidelity Brokerage Services LLC","shortName":"Fidelity","location":"Smithfield, RI","smaAssets":174558000},{"name":"SEI Investments Distribution Co.","shortName":"SEI Investments Distribution","location":"Oaks, PA","smaAssets":5493628}],"custodyNote":"The Enterprise Investment does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Norman Pappas","title":"President & Chief Compliance Officer","crd":"356173"},{"name":"Edward Albers","title":"Director of Insurance","crd":"4585063"},{"name":"Gil Feldman","title":"Director of Investments","crd":"3161075"},{"name":"Adam Offerman","title":"Registered Representative","crd":"5641186"},{"name":"Andrew Marra","title":"CFO","crd":"4763966"}],"ownership":[{"label":"Norman Pappas","detail":"President & chief compliance officer in the 75% or more ownership band and a control person, since June 1985."},{"label":"Edward Albers","detail":"Director of insurance in the 10% to 25% ownership band, since January 2014."},{"label":"Gil Feldman","detail":"Director of investments in the 10% to 25% ownership band, since January 2014."},{"label":"Andrew Marra","detail":"Cfo in the 10% to 25% ownership band and a control person, since January 2014."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Michigan","offices":1,"addresses":[{"street":"30301 Northwestern Highway, Suite 200","city":"Farmington Hills","headquarters":true}]}],"brochureServices":["estate planning","insurance"],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"248-539-8282","stateRegisteredReps":3,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Hourly charges"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Pension consulting services","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"800","assetMix":[{"label":"Exchange-traded equity securities","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":38},{"label":"Cash and cash equivalents","percent":61}],"privateFunds":0},"sources":{"adv1FilingDate":"29 April 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/116889/PDF/116889.pdf","brochureDate":"29 April 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1043249","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 The Enterprise Investment have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does The Enterprise Investment offer?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does The Enterprise Investment charge?","answer":"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","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does The Enterprise Investment use?","answer":"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","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does The Enterprise Investment have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does The Enterprise Investment invest in?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns The Enterprise Investment?","answer":"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","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does The Enterprise Investment get paid?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact The Enterprise Investment?","answer":"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.","source":"Form ADV Part 1A, Item 1.F, filed 29 April 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."}