Lipper Advisory Services Inc
- Regulatory AUM
- $156M
- Discretionary
- $156M
- Clients
- 20
- Avg AUM / client
- $7.8M
- Accounts
- 24
- Employees
- 3
AUM over time
Annual snapshots from Form ADV filings · as of Mar 20, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 11 | $2.2M | 1.43% |
| High net worth individuals | 3 | $55.2M | 35.4% |
| Pooled investment vehicles (non-investment companies) | 1 | $58.7M | 37.7% |
| Charitable organizations | 1 | $2.6M | 1.69% |
| Corporations and other businesses | 4 | $37.0M | 23.8% |
Private funds (1)
Reported in Form ADV Section 7.B.(1), filing of Oct 2024 · $41.9M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Lsf Partners, Lp | Hedge Fund | Delaware | $41.9M | 20 |
People (3)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| A Michael Lipper | President/Sole Director | CFA | Dec 1981 (45y) | 75% or more |
| Hylton Hudson Phillips Page | Vice President | CFA | Aug 2013 (13y) | Less than 5% |
| Kaplan, Zachary, Max | Chief Compliance Officer | Mar 2022 (4y) | Less than 5% |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (1, $41.9M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Lsf Partners, Lp | Hedge Fund | $41.9M | $1.0M | 20 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/20/2026 | 1.17 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Fixed fees
- • Other fees
- • PRE-AUTHORIZED EXPENSE REIMBUSEMENT AND RETAINER
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
- • Pension consulting services
- • Selection of other advisers
Custody
Reported custodians
- J.P. Morgan $58.0M (37% of AUM) Mar 2026
- Charles Schwab & Co. $25.3M (16% of AUM) Mar 2026
- Wilmington Trust Investment Advisors, Inc $6.5M (6% of AUM) May 2020
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 20, 2026.
View current Form ADV (SEC/IAPD) ↗