Shuster Advisory Group
SEC-registered investment adviser in Pasadena, CaliforniaRegistered since 2015
Figures as filed with the SEC on 20 May 2026. Checked against the SEC's public record on 17 September 2026.
Shuster Advisory Group, LLC is a Pasadena-based, SEC-registered investment adviser reporting $10.32B in regulatory assets in its May 2026 Form ADV. Its brochure lists Negotiable in advisory fees.
Assets and clients#
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 39 | $5,128,920 | 0.0% | $132K |
| High-net-worth individuals | 153 | $588,023,410 | 5.7% | $3.84M |
| Pension and profit-sharing plans | 71 | $977,270,784 | 9.5% | $13.8M |
| Charitable organizations | 1 | $244,607 | 0.0% | $245K |
| State or municipal government entities | 103 | $8,525,411,733 | 82.6% | $82.8M |
| Corporations and other businesses | 32 | $114,836,852 | 1.1% | $3.59M |
| Other: GST/SNT'S | 36 | $107,581,266 | 1.0% | $2.99M |
| Total | 435 | $10,318,497,572 | 100% | $23.7M |
- Regulatory AUM
- $5,128,920
- Share
- 0.0%
- Avg. per client
- $132K
- Regulatory AUM
- $588,023,410
- Share
- 5.7%
- Avg. per client
- $3.84M
- Regulatory AUM
- $977,270,784
- Share
- 9.5%
- Avg. per client
- $13.8M
- Regulatory AUM
- $244,607
- Share
- 0.0%
- Avg. per client
- $245K
- Regulatory AUM
- $8,525,411,733
- Share
- 82.6%
- Avg. per client
- $82.8M
- Regulatory AUM
- $114,836,852
- Share
- 1.1%
- Avg. per client
- $3.59M
- Regulatory AUM
- $107,581,266
- Share
- 1.0%
- Avg. per client
- $2.99M
Discretion
- Discretionary
- $10,191,410,430 across 955 accounts (98.8% of AUM)
- Non-discretionary
- $127,087,142 across 71 accounts (1.2%)
- Non-U.S. clients
- 0% of clients
- Non-AUM advisory clients
- 10 clients received advice without assets under management last fiscal year
Form ADV Part 1A, Items 5.D and 5.F. Fiscal year ends December; amendment filed 20 May 2026. View Item 5 in the filing
Fees#
| Service | How it is charged | Stated range |
|---|---|---|
| Investment supervisory services | Percentage of assets or flat fee, set in the investment advisory agreement and billed monthly or quarterly in arrears. | Negotiable |
| A-la-carte or fee-for-service work | Fee determined by the scope of services in the client agreement. | Negotiable |
- How it is charged
- Percentage of assets or flat fee, set in the investment advisory agreement and billed monthly or quarterly in arrears.
- How it is charged
- Fee determined by the scope of services in the client agreement.
Account minimum
The brochure states there is no account minimum for any of Shuster’s services.
Other charges
Third-party adviser, custodian, broker-dealer, mutual-fund, and other investment expenses are separate from Shuster’s advisory fee. The brochure states that Shuster does not receive a portion of third-party adviser fees.
Form ADV Part 2A brochure, Item 5, dated 31 March 2026. View Item 5 in the brochure
Custodians#
| Custodian | Location | SMA assets held | Share |
|---|---|---|---|
| Charles Schwab & Co., Inc. | El Paso, Texas | $3,462,765,005 | 33.6% |
| Voya Retirement Insurance and Annuity Company | Windsor, Connecticut | $1,160,117,807 | 11.2% |
| Empower Trust Company, LLC | Greenwood Village, Colorado | $1,895,599,205 | 18.4% |
| All other custodians | — | $3,800,015,555 | 36.8% |
- Location
- El Paso, Texas
- Share
- 33.6%
- Location
- Windsor, Connecticut
- Share
- 11.2%
- Location
- Greenwood Village, Colorado
- Share
- 18.4%
- Location
- —
- Share
- 36.8%
Custody of client assets
Schedule D reports the listed separately managed-account custodians. The brochure states that Shuster does not maintain custody of client funds or securities, although it may be deemed to have custody when it has authority to withdraw assets.
Schedule D, Section 5.K.(3) lists every custodian holding 10% or more of separately managed account assets. View Section 5.K.(3) in the filing
Leadership and ownership#
| Name | Title | CRD |
|---|---|---|
 Mark Allan Shuster | Managing Member | 1402702 |
 Joann Parrino | Member/Chief Compliance Officer | 3110216 |
Mark Allan Shuster1402702- Title
- Managing Member
Joann Parrino3110216- Title
- Member/Chief Compliance Officer
Ownership chain
- Direct owner
- Schedule A reports Mark Allan Shuster as managing member in the 75% or more ownership band and as a control person since February 2014.
- Indirect ownership
- Schedule B has no information filed.
Schedules A and B. Ownership percentages are the SEC's reporting bands, not exact figures. View Schedule A in the filing
Offices and registrations#
- Branch offices
- 1 reported to IAPD; Part 1A lists 1 office addresses in at least 1 states
- SEC registration
- Approved 19 November 2015, file number 801-106929
- State notice filings
- 5 jurisdictions, most recently Louisiana, 26 October 2023
- Advisory staff
- 11 of 15 employees perform advisory functions; 3 are also broker-dealer registered representatives and 5 are licensed insurance agents
- Promoters
- 1 outside firms or persons solicit clients on the firm's behalf
Offices by state
- California1
Other business names
Shuster Advisory Group has reported 5 other business names to the SEC in Item 1.B. Its brochure states that advisory services are provided by Shuster Advisory Group, LLC in every case, and that some names are used by its advisors for marketing.
- SFG Retirement Plan Consulting
- SFG Retirement Plan Consulting, LLC
- Shuster, Mark A
- Shuster Retirement Plan Consulting
- Shuster Wealth Management
Headquartered at 155 N. Lake Avenue, Suite 950, Pasadena, CA 91101. Organized as a California limited liability company. The brochure dates the firm's founding to February 2014. View Section 1.F in the filing
Other business and affiliations#
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Form ADV Part 1A, Items 6 and 7, and Schedule D. View Item 6 in the filing
Common questions#
What regulatory assets does Shuster Advisory Group report?
Shuster Advisory Group reports $10,318,497,572 of regulatory assets under management in Item 5.F. The largest Item 5.D category is state or municipal government entities, with $8,525,411,733.
What does Shuster Advisory Group state about fees?
Its brochure states that fees are negotiable and may be charged as a percentage of assets or as a flat fee, generally billed monthly or quarterly in arrears.
Source: Part 2A brochure, Item 5
Does Shuster Advisory Group have an account minimum?
No. Its brochure states that there is no account minimum for any of Shuster’s services.
Source: Part 2A brochure, Item 7
Answered from the filings above.
Sources
- Form ADV Part 1A, amendment filed 20 May 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
- Form ADV Part 2A brochure, dated 31 March 2026. Items 4, 5, 7, 12 and 15.
- IAPD firm record, CRD 170233, compiled 21 May 2026.
Retrieved 17 September 2026. All three are published by the SEC and may have been amended since. The logo is reproduced for identification from Shuster Advisory Group, website.
Report a correctionThis profile is compiled from public regulatory filings and is provided for informational purposes only. Simple Money is not affiliated with Shuster Advisory Group, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.