Wealth manager, wrap-program sponsor · ANN Arbor, MI
Four Financial Management
Morman, Kaplan, Brilliant and Fransko, LLC · SEC-registered investment adviser · CRD 284251 · SEC 801-129305
At a glance
Four Financial Management is an SEC-registered investment adviser based in ANN Arbor, Michigan, with $163 million in regulatory assets under management as of its Form ADV filed March 18, 2026. Its largest client group by assets is high-net-worth individuals, and it reports 353 individual clients. By Form ADV it is a wealth manager (wrap-program sponsor), ranked 6,563rd of 8,915 wealth managers and 13,278th of 17,210 SEC-registered advisers by assets.
Main office 734-272-4322fourfinancial.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $163M
- Rank among wealth managers
- #6,563 of 8,915
- Rank among all SEC RIAs
- #13,278 of 17,210
- Rank in Michigan
- #245 of 305
- Individual clients
- 353
- High-net-worth clients
- 41
- Accounts
- 600
- Discretionary
- 100% of AUM
- Employees
- 7
- Advisory staff
- 6
- Offices
- 2
Owners and executives on its Form ADV
- Michael T. KaplanMember/shareholder
- Alan J. BrilliantManaging Member/shareholder
- Stephen M. MormanMember/shareholder
- David L. FranskoMember/cco/shareholder
Custody and brokerage
Broker-dealer
Hybrid RIA
Four Financial Management is a hybrid RIA: 6 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Alan Brilliant, David Fransko, Michael T. Kaplan and Stephen M. Morman.
- Alan Brilliant
- David Fransko
- Michael T. Kaplan
- Stephen M. Morman
Its Form ADV brochure (filed March 2026) names LPL Financial as the broker-dealer its advisers are registered with.
USTRY ACTIVITIES AND AFFILIATIONS Our associates are licensed as registered representatives and investment adviser representatives of LPL Financial, LLC, a full-service broker/dealer and member FINRA/SIPC and registered investment adviser.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 41 | $82M | 51% |
| Individuals | 312 | $80M | 49% |
Disciplinary disclosures
Four Financial Management reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Selecting other advisers
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗fourfinancial.com ↗
AtlasMembers
The full record on Four Financial Management
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, 2 years of filings
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- Growth over one, three and five years
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- Rank against 5,562 peers of its type and size
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- Owners and executives, with titles and stakes
- 4 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Four Financial Management manage?
Four Financial Management reports $163 million in regulatory assets under management across 600 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 18, 2026.
What kind of firm is Four Financial Management?
Four Financial Management is a wealth manager by its Form ADV answers. At least half of its regulatory assets are managed for individuals and high-net-worth individuals.
Who are Four Financial Management’s clients?
By assets, its largest client types are high-net-worth individuals ($82 million, 41 clients); individuals ($80 million, 312 clients).
Does Four Financial Management have any disciplinary history?
Four Financial Management reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Four Financial Management’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-18), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →