Bull Run Investment Management

What Bull Run Investment Management does

Bull Run Investment Management (BRIM) is a fee-only Registered Investment Adviser headquartered in McLean, Virginia, founded in 2019 with CRD #306763. The firm offers four proprietary separately managed account (SMA) strategies — Equity Innovation (flagship, 25%+ revenue growth target, live since March 2020), Equity Growth (15-25%, April 2022), Equity Core (12-15%, March 2021), and Equity Low Volatility (7-12%, April 2016) — all delivered as individually managed accounts held in custody at Charles Schwab and reported through Black Diamond. Investment decisions are driven by a proprietary revenue-growth screening methodology managed directly by founder, CEO, and portfolio manager Christopher M. Passarelli, who personally manages each client account rather than relying on a committee or model-delivery layer.

Name

Bull Run Investment Management

Legal name

Bull Run Investment Management, LLC

Website

https://bullrunim.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Bull Run Investment Management is a fee-only RIA in McLean, Virginia offering four proprietary equity SMA strategies (Innovation, Growth, Core, Low Volatility) on the Charles Schwab platform, serving HNW individuals, business owners, executives, advisors, retirement plans, and nonprofits.

Ownership category

akta.pro rank

Product category

Investment Advisory / Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro industry

PRIMARYFSAAACAC

Portfolio Management–Led RIAs (Discretionary/Model-Based)

Financial & Insurance/Asset & Wealth Management/Registered Investment Advisors (RIAs) & Independent Wealth Managers

SECONDARYFSAEABAA

Registered Investment Advisor (RIA) Wealth Management

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Wealth & Retirement Advisory

SECONDARYFSAAACAB

Financial Planning–Led RIAs

Financial & Insurance/Asset & Wealth Management/Registered Investment Advisors (RIAs) & Independent Wealth Managers

SECONDARYFSAAACAG

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions)

Financial & Insurance/Asset & Wealth Management/Registered Investment Advisors (RIAs) & Independent Wealth Managers

SECONDARYFSAAAAAG

Managed Accounts & Model Portfolios (SMA/UMA)

Financial & Insurance/Asset & Wealth Management/Retail & Mass-Affluent Wealth Management

Keywords

• Separately managed accounts
• Investment advisory services
• Wealth management
• Financial planning services
• Fee-only RIA

Headquarters

HQ city

Mclean

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Advisory Fees (AUM-based): Fee-only advisory fees billed quarterly in arrears on average daily balance. Single tiered fee structure with rates declining as portfolio size increases. No commissions, no revenue sharing, no products. Direct-client pricing with separate advisor arrangements for introduced clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Bull Run Investment Management is a fee-only Registered Investment Adviser (RIA) that designs and distributes four proprietary Separately Managed Account (SMA) strategies — Equity Innovation, Equity Growth, Equity Core, and Equity Low Volatility — hosted on the Charles Schwab platform. The firm pairs these strategies with comprehensive wealth management, financial planning, business owner advisory, workplace retirement plan, and philanthropic services for individuals, families, and organizations.

Product overview

Bull Run Investment Management is a fee-only Registered Investment Adviser offering four proprietary separately managed account (SMA) strategies delivered through the Charles Schwab institutional platform. The core product suite consists of Equity Innovation (flagship, 25%+ revenue growth), Equity Growth (15-25% growth), Equity Core (12-15% growth), and Equity Low Volatility (7-12% growth), all structured as individually managed accounts held at Charles Schwab. These are supplemented by wealth management services (investment management, financial planning, estate planning, tax planning, insurance planning), business owner advisory, workplace solutions (retirement plan advisory, defined contribution/benefit plans), and philanthropic organization services. The firm serves individuals, families, business owners, corporate executives, financial advisors, and nonprofits nationally.

Differentiator

Problem solved

Functional benefit

Products and services

• Equity Innovation SMA

Quantifiable outcome

• Equity Innovation portfolio +273.7% total return from 2023-2025, ranking in top 1.32% of 3,496 U.S. non-leveraged ETFs
• +2 more outcomes

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Charles SchwabcoreTechnology or IntegrationClient accounts held at Charles Schwab with Bull Run providing investment management advisory services. Bull Run is a fee-only RIA using Schwab's institutional custody platform. Schwab provides account administration, custody, and client login infrastructure.
• Black Diamond (SS&C)coreTechnology or IntegrationPortfolio performance and reporting platform providing real-time account visibility, holdings data, and performance analytics. Black Diamond's institutional reporting platform is used for client quarterly reports and daily portfolio monitoring. ByAll extension allows clients to link outside accounts.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Creative Planning: One of the largest U.S. fee-only RIAs offering comprehensive wealth management, tax, estate, and SMA-style strategies to HNW clients; relevant as the scaled incumbent Bull Run would aspire to compete against.
• Focus Financial Partners: Leading RIA aggregator and partner firm to hundreds of independent wealth managers including boutique RIAs; relevant as both a potential acquirer and an indirect competitor for advisor-channel assets.
• Edelman Financial Engines: Large national fee-only RIA combining financial planning, investment management, and workplace retirement services; relevant competitor across Bull Run's HNW and workplace solutions segments.
• Carson Group: Large RIA and advisor support platform serving independent advisors and their clients with curated investment strategies and practice management; comparable to Bull Run's advisor channel via the Schwab SMA Platform.
• Mercer Advisors: National fee-only RIA providing wealth management, tax planning, and OCIO services to HNW households and retirement plans; directly comparable service mix to Bull Run's workplace and philanthropic offerings.

Emerging players

• Alpha Architect: Boutique quant-driven asset manager offering factor- and rules-based ETF and separately managed account strategies to advisors and retail investors; comparable philosophy of rules-based, transparent active management.

Direct peers

• Brown Capital Management: Employee-owned boutique active equity manager applying a disciplined, fundamentals-driven growth approach to concentrated U.S. equity portfolios; comparable as a long-tenured, philosophy-led SMA manager.
• Buckingham Strategic Wealth: National fee-only RIA offering discretionary portfolio management, financial planning, and advisor support — competes head-to-head with Bull Run for HNW households seeking fiduciary wealth management.
• Ritholtz Wealth Management: Boutique fee-only RIA led by founder Barry Ritholtz with concentrated, growth-oriented equity strategies and a strong content-marketing engine — the closest analog to Bull Run's founder-led, performance-led model.

Regional players

• Hilltop Wealth Management: Mid-Atlantic-based RIA offering comprehensive wealth and investment management to HNW individuals and families in the Virginia/Maryland/DC corridor; regional competitor in Bull Run's home market of McLean, VA.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/bull-run-investment-management-llc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bull Run Investment Management