Zephyr Investment Management, Inc.
- Regulatory AUM
- $243M
- Discretionary
- $156M
- Clients
- 242
- Avg AUM / client
- $1.0M
- Accounts
- 687
- Employees
- 6
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 174 | $72.0M | 29.7% |
| High net worth individuals | 46 | $109M | 44.9% |
| Pension and profit sharing plans | 22 | $61.9M | 25.5% |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Blackline Systems, Inc. 401(k) Profit Sharing Plan Blackline Inc. | 2024 | |
| Jewish Family Service Of Los Angeles 401 (K) Plan Jewish Family Service Of Los Angeles | 2024 |
People (3)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Cheryl Ann Munoz | President, Cco | CFA | Jan 2013 (14y) | 75% or more |
| Marsha Lynn Roubidoux | Registered representative | CFP | Feb 2013 (13y) | |
| Vanessa Marie Moore | Registered representative | Dec 2016 (10y) |
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.
Retirement plans served (2)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Blackline Systems, Inc. 401(k) Profit Sharing Plan | Blackline Inc. | 1,106 | $184M | 01/01/2024 |
| Jewish Family Service Of Los Angeles 401 (K) Plan | Jewish Family Service Of Los Angeles | 169 | $10.0M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 952 KB | 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
- • Hourly charges
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Pension consulting services
- • Selection of other advisers
Custody
Reported custodians
- National Financial Services (Fidelity) $165M (48% of AUM) Apr 2024
- Charles Schwab & Co. $149M (62% of AUM) Mar 2026
- Fidelity Brokerage Services $104M (45% of AUM) Mar 2021
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have 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 31, 2026.
View current Form ADV (SEC/IAPD) ↗