Shearman, Ralston Inc.

Shearman, Ralston Inc. is a small, registered investment adviser that provides portfolio management and investment advice to individuals — including high‑net‑worth clients — and trusts. The firm offers both discretionary and non‑discretionary management and advises on a broad range of instruments, including equities, ETFs, fixed income, REITs, warrants and options contracts.

The firm tailors strategies to each client's objectives using fundamental, technical and charting analysis and may pursue long‑ and short‑term trading, occasional frequent trading, and option‑related strategies (including option writing and short sales) as appropriate. Uncommonly for peers, a substantial majority of the firm’s assets are managed on a non‑discretionary basis, and the firm routinely requires clients to direct brokerage and custody to Apex Clearing Corporation.

Shearman, Ralston is also registered as a broker‑dealer and executes commission‑based and principal transactions (including mark‑ups/mark‑downs on bond trades and receipt of 12b‑1 fees), which creates potential conflicts between its advisory and brokerage activities. The combination of broker‑dealer activity, the explicit use of derivatives in separately managed accounts, and the predominance of non‑discretionary AUM distinguishes the firm from most similarly supported advisers and may affect trade execution and conflict considerations.