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For Financial Professionals
SMA Platform

Access Bull Run SMAs on Charles Schwab

Four proprietary high-growth equity strategies now available as Separately Managed Accounts through Schwab's institutional platform. Direct ownership, tax-aware execution, and full portfolio transparency for your clients.

Platform Overview
4 SMA Strategies
+274.5% Innovation SMA Since 2023
Top 1.32% vs. 3,496 Non-Leveraged ETFs
Schwab Managed Account Marketplace

Institutional-Grade SMAs, Ready to Deploy

Bull Run Investment Management offers four proprietary equity strategies as Separately Managed Accounts on the Charles Schwab Managed Account Marketplace® — giving your clients direct stock ownership, real-time transparency, and institutional execution through one of the most trusted custodians in the industry.

Marketplace is Schwab’s open-architecture, dual-contract platform. Unlike bundled wrap programs, it gives you a direct relationship with BRIM as the money manager — with full fee transparency, negotiation flexibility, and independent account management. You keep the advisory relationship; we deliver the investment performance.

As a fee-only Registered Investment Adviser (CRD #306763), BRIM operates as a fiduciary on every account. No commissions, no revenue sharing — our interests are structurally aligned with yours and your clients’.

Available on Charles Schwab Marketplace
Direct Stock Ownership
Clients hold individual equities in their own Schwab account — not pooled fund shares. Full visibility into every position.
Dual-Contract Structure
Separate agreements between advisor-client and BRIM-client. Clean, institutional-grade documentation with full independence.
Transparent Fee Billing
Three separate line items on the client’s Schwab statement: your advisory fee, BRIM’s management fee, and Schwab’s custody fee. No bundled opacity.
Tax-Aware Execution
SMA structure enables tax-loss harvesting, gain deferral, and personalized lot selection unavailable in pooled vehicles.
By the Numbers

A Select Group of Money Managers

Out of tens of thousands of registered investment advisers nationwide, only a small fraction have proprietary SMA strategies available on the Charles Schwab platform. BRIM is one of them.

1,182
Money managers with strategies available on Schwab’s Managed Accounts platform nationally
Nationwide
21
Virginia-based firms offering proprietary SMA strategies on Schwab
State of Virginia
30,000+
Total SEC and state-registered investment advisers in the United States
RIAs Nationally
Onboarding Walkthrough

How to Place a Client With BRIM

If you already custody at Schwab, adding a BRIM strategy takes minutes. Here’s exactly what it looks like inside Schwab Advisor Center.

Schwab Advisor Center — Account Management

Open a Managed Account

From the Account Management tab in Schwab Advisor Center, click Open and fund an account. Select your client (or add a new-to-Schwab client), then choose your Marketplace master account.

Under “Will you be assigning a money manager for separately managed accounts?” select Yes, from Managed Account Marketplace®.

You’ll need a Marketplace master account. If you already use Marketplace managers, you’re set. If not, a one-time setup with your Schwab relationship manager takes care of it.
Account Management › Account Open
Will you be assigning a money manager for separately managed accounts?
No
Yes, from Managed Account Marketplace®

Find Bull Run Investment Management

In the Firm name of money manager search field, start typing “Bull” — and Bull Run Investment Management, LLC appears in the dropdown.

Select it, and the account will link to BRIM’s master. The client’s account now sits under both your FA master and our money manager master — giving both parties access to do their respective jobs.

You retain full advisory access. BRIM receives discretionary trading authority only — we manage the investment portfolio, you manage the client.
Firm name of money manager
bull
Bulldog Investors, LLP
New York, NY
Bull Run Investment Management, LLC
McLean, VA • CRD #306763

Choose an Investment Strategy

After selecting BRIM, a dropdown appears with all four proprietary strategies. Pick the one that fits your client’s risk profile — or open separate accounts for multiple strategies.

Then choose the account type (Individual, Joint Tenant, IRA, Roth, Trust, etc.) and proceed through DocuSign or paper forms. Schwab handles custody, settlement, and reporting.

One strategy per account. For multi-strategy allocations, open separate accounts for each — same process, repeated for each strategy.
Investment Strategy
Select a strategy
BRIM Equity Innovation SMA
BRIM Equity Growth SMA
BRIM Equity Core SMA
BRIM Equity Low Volatility SMA

Fund the Account — We Handle the Rest

Once the account is funded, BRIM receives the allocation under our master account and begins investing immediately according to the selected strategy’s model portfolio.

From this point forward, the advisor doesn’t need to do anything on the investment side. BRIM handles all trading, rebalancing, and portfolio monitoring. You focus on the client relationship, financial planning, and advisory oversight.

The client’s account appears under both your FA master and BRIM’s money manager master — so both parties have visibility and access to perform their respective roles.

Account Status
Account Active
BRIM is now managing this portfolio
Strategy Equity Innovation SMA
Money Manager Bull Run Investment Mgmt
Platform Marketplace®
Fee Transparency

Two Fees. Uploaded Separately.

Marketplace’s dual-contract structure splits compensation into two independent line items — your advisory fee and BRIM’s portfolio management fee. Each party sets, uploads, and collects its own fee through Schwab’s billing engine. Nothing is bundled, negotiated away, or paid out of another party’s fee. It’s the cleanest SMA fee structure in the industry.

Fee 1 — Advisor
Your Advisory Fee
Set by You
Your standard advisory rate for planning, relationship management, and oversight — disclosed in your ADV Part 2A and uploaded into Schwab Advisor Center on your firm’s fee schedule.
Uploaded by
Your Firm
Disclosed on
Your ADV 2A
Fee 2 — BRIM
Portfolio Management Fee
0.50% Standard
BRIM’s published 50 bps institutional rate for active portfolio management, trading, and strategy execution — uploaded separately into Schwab under our money manager master. Volume discounts available.
Uploaded by
BRIM
Disclosed on
BRIM ADV 2A
No Schwab custody fee. Schwab does not charge a separate custody or platform fee for Marketplace accounts. The only ancillary costs are the same trade commissions and operational charges Schwab applies to any advisor-custodied account — none of which are bundled into the two advisory fees above.
Worked Example
Annual Cost on a $1,000,000 Client Account
Illustrative only. Your advisory fee varies; shown below is a common 1.00% rate for reference.
Fee Component Rate Annual Cost
Advisor Fee
Billed by your firm • uploaded in Schwab Advisor Center
 1.00% $10,000
BRIM Portfolio Management Fee
Billed by BRIM • uploaded under BRIM money manager master
 0.50% $5,000
Schwab Custody Fee
No separate Marketplace custody fee
 — $0
Total All-In Client Cost 1.50% $15,000
Each fee is debited from the client’s Schwab account independently on the billing schedule each party establishes (typically quarterly in arrears, based on average daily balance). Both fees appear as distinct line items on the client’s Schwab statement.
Structure
Traditional Wrap / Bundled SMA
Schwab Marketplace — Dual Contract
Fee Structure
× Bundled — single wrap fee covers advisor, manager, platform, trading
✓ Unbundled — advisor fee and BRIM fee uploaded and billed independently
Transparency
Manager’s portion often undisclosed or buried in platform disclosure
Both fees visible as separate line items on client’s Schwab statement
Fee Negotiation
Bundled rate set by platform; advisor takes what’s left after platform and manager cut
Advisor keeps 100% of their fee; BRIM 50 bps is a published institutional rate
Revenue Sharing
Common — platform, custodian, and manager may share fees with each other
✓ None — each party is paid only by its own separately uploaded fee
Schwab Custody Charge
Often embedded inside wrap fee (opaque)
✓ No separate charge on Marketplace accounts
Typical All-In Cost
1.75%–2.75% bundled (ICI & Schwab industry surveys)
Advisor fee + 0.50% BRIM — typically 1.25%–1.75% all-in
How the Two-Fee Structure Works in Practice
The mechanics advisors actually want to understand before onboarding a client.
How are the two fees uploaded into Schwab?
Each firm uploads its own fee schedule independently in Schwab Advisor Center. Your firm uploads your advisory fee under your FA master. BRIM uploads the 0.50% portfolio management fee under our money manager master. Schwab’s billing engine handles both simultaneously from the same client account.
How often are fees debited?
Both fees are typically billed quarterly in arrears based on the average daily balance of the client’s managed assets. Each party can set its own billing frequency and methodology — there’s no requirement that they match. Most advisors choose quarterly to align with reporting cycles.
Is BRIM’s 50 bps rate negotiable?
0.50% is our published institutional rate across all four strategies. Volume-based adjustments are available for advisors onboarding meaningful AUM, reviewed case-by-case. Whatever rate is agreed upon is formally documented in the BRIM investment management agreement with the client and reflected on our ADV Part 2A.
Who discloses what on Form ADV?
Each firm discloses only its own fee on its own ADV Part 2A. You describe your advisory fee on your firm’s ADV; BRIM discloses our 0.50% rate on ours. The dual-contract structure means there’s no fee-sharing language to add, no solicitor disclosure, and no Form 1 or 2A cross-referencing required.
Does BRIM receive any revenue from Schwab?
No. BRIM receives zero revenue, 12b-1 fees, or soft dollars from Schwab, and Schwab receives nothing from BRIM. We’re on Schwab’s Marketplace because we were approved through their due diligence process — not because we pay for placement. This is true of every Marketplace manager.
What shows up on the client’s Schwab statement?
Two separate line items each billing period — one labeled with your firm’s name and fee, one labeled “Bull Run Investment Management, LLC” with its fee. The client sees exactly who charged what. No mystery charges, no bundled disclosure, no wrap opacity.
The bottom line: Two fees, uploaded independently, billed independently, disclosed independently. Your advisory fee is yours — 100% retained, not shared. BRIM’s 50 bps is ours — published, negotiable by volume, institutional. Schwab charges no custody fee for Marketplace accounts. It doesn’t get cleaner than this.
Strategy Suite

Four Strategies, One Platform

Each SMA targets a different segment of the equity growth spectrum. Combine them for a custom risk profile or run them individually — performance updates live from our database.

Returns auto-update from live data
Equity Innovation
Disruptive Growth Leaders
YTD—
1-Year—
3-Year CAGR—
Inception—
View Strategy
Equity Growth
Secular Growth Compounders
YTD—
1-Year—
3-Year CAGR—
Inception—
View Strategy
Equity Core
Quality Large Cap Blend
YTD—
1-Year—
3-Year CAGR—
Inception—
View Strategy
Equity Low Volatility
Defensive Quality Equity
YTD—
1-Year—
3-Year CAGR—
Inception—
View Strategy
The BRIM Advantage

Built for Advisor Workflows

We designed our platform around what advisors actually need: strong returns, clean infrastructure, and zero friction.

Proven Track Record
Our flagship Innovation SMA has delivered exceptional returns since inception, placing it in the top percentile versus thousands of non-leveraged equity products. All returns are auditable and updated daily.
Turnkey on Schwab
No outside custodial agreements or wire transfers. BRIM strategies live natively on Schwab Marketplace — search, select, fund, and go. Full integration with your existing workflow.
You Keep the Relationship
BRIM is the money manager — not the advisor of record. Your clients remain yours. We never contact, solicit, or advise your clients directly.
Real-Time Reporting
Every position, trade, gain, and allocation is visible in real-time through Schwab’s institutional dashboard. Pair with your own reporting overlay for a seamless client experience.
Flexible Risk Tiers
From defensive equity (Low Volatility) to high-conviction growth (Innovation), slot clients across the spectrum or blend strategies for custom risk profiles.
Advisor Resources
Fact sheets, strategy brochures, performance reports, and dedicated backtesting tools — everything you need to evaluate, present, and implement BRIM strategies with confidence.
Advisor Tools

Research, Model, Present

Purpose-built tools to help you evaluate our strategies, model client outcomes, and make the case with confidence.

SMA Performance
Live returns, calendar year data, and benchmark comparisons across all four strategies.
Strategy Backtester
Simulate hypothetical portfolio outcomes using BRIM’s actual daily returns since 2008.
Wealth Forecaster
Project long-term growth with tax-aware modeling, contributions, and fee-adjusted returns.
Advisor Resources
Downloadable fact sheets, SMA brochures, and the BRIM company overview for your due diligence files.
Get Started

Ready to Add BRIM to Your Platform?

Schedule a brief call to discuss strategy fit, walk through the Schwab onboarding process, or request a full due diligence package.

Schedule a Call Download SMA Brochure
Past performance is not indicative of future results. All performance figures shown are gross of advisory fees unless the Net of Fees toggle is selected, in which case a 1.50% annual advisory fee is deducted daily. Investing involves risk, including the potential loss of principal. BRIM is a fee-only Registered Investment Adviser (CRD #306763). The Managed Account Marketplace® platform is not a program sponsored by Schwab. Schwab does not evaluate or endorse money managers or strategies available on Marketplace. For additional information about BRIM, refer to our Form ADV at adviserinfo.sec.gov.