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RIA / WealthRegistered adviserformer SEC advisernot on rosterRAUM 100m 1b

INVESTOR'S CAPITAL MANAGEMENT, LLC

CRD 141060

MENLO PARK, CA

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:0899b4e3-7336-4198-2584-35eb056cf964

Data as of May 30, 2023 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 7:45 AM UTC and rebuilt at most every 15 minutes.

Relationships: 6
Dated events: 3
On other graphs: 0
Observed: Mar 30, 2012 to May 30, 2023
23 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: former SEC adviserderivedabsent from the latest SEC roster
Regulatory AUM: $170MItem 5.F on the latest filing (2023-05-30); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $163M
Private client RAUM: $166MderivedItem 5.D individuals plus high net worth individuals
Private client share: 98%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 0
Employees: 4
Advisory employees: 3
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 421
Individual clients: 19
High net worth clients: 52
Custody, client assets: $56.4M
SEC number: 801-66929
CRD: 141060
Filings on the tape: 23
First filed: Mar 30, 2012
Latest filed: May 30, 2023
Organised: Limited Liability Company, California

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
CRAY, JENNIFER, HILARY	MANAGING MEMBER, PARTNER, CHIEF COMPLIANCE OFFICER	D	yes	05/2006	Mar 30, 2012	May 30, 2023
SCHATZ, JULIE, ANN	MANAGING MEMBER, PARTNER	D	yes	05/2006	Mar 30, 2012	May 30, 2023

Affiliates (Item 7.A)

as filed on Item 7.A; a related person with a CRD on the graph links to its own page

Related person	Type	Class on the graph	Its RAUM	Control	Common control	State
FORUM FINANCIAL MANAGEMENT, LP	n/a	Independent wealth	$8.7B	N	no	n/a

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2022	Mar 14, 2023	$170M	$163M	4	3	0	n/a	n/a
2021	Feb 22, 2022	$191M	$180M	4	3	0	n/a	n/a
2020	Mar 26, 2021	$176M	$169M	5	3	0	n/a	n/a
2019	May 15, 2020	$166M	$159M	5	3	0	n/a	n/a
2018	Apr 1, 2019	$136M	$127M	5	3	0	n/a	n/a
2017	Mar 30, 2018	$137M	$130M	4	2	0	n/a	n/a
2016	Mar 31, 2017	$109M	$104M	4	4	n/a	n/a	n/a
2015	Mar 30, 2016	$104M	$102M	4	4	n/a	n/a	n/a
2014	Mar 30, 2015	$108M	$105M	4	4	n/a	n/a	n/a
2013	Mar 31, 2014	$227M	$221M	5	5	n/a	n/a	n/a
2012	Apr 1, 2013	$217M	$208M	6	6	n/a	n/a	n/a
2011	Mar 30, 2012	$179M	$168M	n/a	n/a	n/a	n/a	n/a

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2022	$170M	$191M	-11.0%	$166M	0.8%	4	4	0	0

Teams out

two or more advisors whose registrations ended here and began at one firm together: a fact of two dates, not a prediction

Other firm	Advisors	First left	Last joined	From	Kind	Move type	Share of firm
FORUM FINANCIAL MANAGEMENT, LP	2	Aug 1, 2023	Jan 7, 2026	MENLO PARK, CA	Team lift out	RIA to RIA	100.0%

Relationships

Affiliated with (1)

→ FORUM FINANCIAL MANAGEMENT, LPRegistered adviserother investment adviser
factForm ADV

Controls (2)

← CRAY, JENNIFER, HILARYOwnerMANAGING MEMBER, PARTNER, CHIEF COMPLIANCE OFFICER, ownership code D, individual
Mar 30, 2012 to presentfactForm ADV
← SCHATZ, JULIE, ANNOwnerMANAGING MEMBER, PARTNER, ownership code D, individual
Mar 30, 2012 to presentfactForm ADV

Moved with (1)

→ FORUM FINANCIAL MANAGEMENT, LPRegistered adviser2 advisors, team lift out, same day
Aug 1, 2023 to Jan 7, 2026factForm ADV

Registered with (2)

← JENNIFER HILARY CRAYAdvisorregistration: previous registration
Nov 13, 2006 to Aug 1, 2023factForm ADV
← JULIE ANN SCHATZAdvisorregistration: previous registration
Nov 13, 2006 to Aug 1, 2023factForm ADV

Dated events

Occurred
Aug 1, 2023
Team lift-out
2 advisors left Investor'S Capital Management, LLC (Menlo Park, CA) for Forum Financial Management, LP on the same day
Form ADVobserved 5 days ago
2 advisors
Occurred
Aug 1, 2023
Advisor changed firm
Jennifer Hilary Cray left Investor'S Capital Management, Llc for Forum Financial Management, Lp (registered 2026-01-07)
Form ADVobserved 5 days ago
Occurred
Aug 1, 2023
Advisor changed firm
Julie Ann Schatz left Investor'S Capital Management, Llc for Forum Financial Management, Lp (registered 2023-05-11)
Form ADVobserved 5 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:0899b4e3-7336-4198-2584-35eb056cf964
First observed: Mar 30, 2012
Last observed: May 30, 2023 40 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

INVESTOR'S CAPITAL MANAGEMENT, LLC

CRD 141060

MENLO PARK, CA

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:0899b4e3-7336-4198-2584-35eb056cf964

Data as of May 30, 2023 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 7:45 AM UTC and rebuilt at most every 15 minutes.

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

CRAY, JENNIFER, HILARY

MANAGING MEMBER, PARTNER, CHIEF COMPLIANCE OFFICER

yes

05/2006

Mar 30, 2012

May 30, 2023

SCHATZ, JULIE, ANN

MANAGING MEMBER, PARTNER

yes

05/2006

Mar 30, 2012

May 30, 2023

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

FORUM FINANCIAL MANAGEMENT, LP

n/a

Independent wealth

$8.7B

n/a

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2022

Mar 14, 2023

$170M

$163M

n/a

2021

Feb 22, 2022

$191M

$180M

n/a

2020

Mar 26, 2021

$176M

$169M

n/a

2019

May 15, 2020

$166M

$159M

n/a

2018

Apr 1, 2019

$136M

$127M

n/a

2017

Mar 30, 2018

$137M

$130M

n/a

2016

Mar 31, 2017

$109M

$104M

n/a

2015

Mar 30, 2016

$104M

$102M

n/a

2014

Mar 30, 2015

$108M

$105M

n/a

2013

Mar 31, 2014

$227M

$221M

n/a

2012

Apr 1, 2013

$217M

$208M

n/a

2011

Mar 30, 2012

$179M

$168M

n/a

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2022

$170M

$191M

-11.0%

$166M

0.8%

Other firm

Advisors

First left

Last joined

From

Kind

Move type

Share of firm

FORUM FINANCIAL MANAGEMENT, LP

Aug 1, 2023

Jan 7, 2026

MENLO PARK, CA

Team lift out

RIA to RIA

100.0%