DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Capstone Financial Advisors Inc
Latest filing Mar 31, 2026
First filing on the tape Mar 30, 2012 · 26 filings
SEC status approved since Nov 16, 1999
RAUM
$2.9B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
100%
$2.9B individuals and HNW
Advisors
17
registered through the firm on IAPD
RAUM per advisor
$169M
derived; firm RAUM over IAPD count
Employees
30
25 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
26 filings and snapshots on the tape
RAUM$2.9B as of Mar 31, 2026
Mar 30, 2012$722M then
HNW client RAUM$2.6B as of Mar 31, 2026
Feb 16, 2018$1.3B then
State-registered IARs (5.B.3)16 as of Mar 31, 2026
Mar 30, 20120 then
Employees (5.A)30 as of Mar 31, 2026
Mar 27, 201320 then
Private funds: no history
RAUM +17% over the last fiscal year+16% a year over threeIARs 16 to 16
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
Archetypes, each a printed rule
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- Planning-led practice · financial planning activity (5.G.1), at least 100 financial planning clients (5.H), and hourly, fixed or subscription compensation (5.E)
- RAUM per advisor
- $169MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 63derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $6.9MderivedHNW RAUM over HNW clients
- Average account
- $687,293derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.8derivedItem 5.A over advisors
- Advisors per office
- 8.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +17%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +19%derived
- Compensation
- percentage of assets, hourly, fixed fees, otherreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, pension consulting, selection of other advisersreportedItem 5.G
- Financial planning clients
- 500reportedItem 5.H
- Custody
- $281M, 501 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$2.6B90%
- Individuals$264M9.2%
- Pension and profit-sharing plans$7.1M0.2%
- Charitable organizations$3.2M0.1%
- Individual clients
- 692reported
- HNW clients
- 376reported
- Pension plan clients
- 4reported
- Charitable clients
- n/areported
- Accounts
- 4,173reported
- Financial planning clients
- 500reported
- Wrap fee programs
- noreported
- Custody of client assets
- $281M for 501 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
17 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Troy E. ButeCertified Financial Planner | Downers Grove, Il | May 2, 2006 | 27 y | 0 |
| John Charles KosikCertified Financial Planner | Downers Grove, Il | May 12, 2011 | 41 y | 0 |
| Jason Dwain TelfordCertified Financial Planner, Chartered Financial Analyst | Downers Grove, Il | Jan 26, 2012 | 21 y | 0 |
| Brian Michael NiksaCertified Financial Planner | Downers Grove, Il | Mar 28, 2014 | 17 y | 0 |
| Robert John WoottonCertified Financial Planner | Downers Grove, Il | Mar 28, 2014 | 24 y | 2 |
| Aldo Salvatore VultaggioChartered Financial Analyst | Downers Grove, Il | Sep 23, 2016 | 18 y | 1 |
| Nicholas Stephen ReedCertified Financial Planner | Brentwood, Tn | May 10, 2023 | 10 y | 1 |
| Jeffrey Drew HansenCertified Financial Planner | Downers Grove, Il | Sep 26, 2023 | 11 y | 5 |
| John Timothy KoenigCertified Financial Planner | Downers Grove, Il | Feb 7, 2024 | 11 y | 1 |
| Sandra Lee HigginsCertified Financial Planner | Downers Grove, Il | Feb 13, 2024 | 16 y | 0 |
| James Anthony MarquezCertified Financial Planner | Downers Grove, Il | Feb 13, 2024 | 11 y | 0 |
| Kari Jean MckinleyCertified Financial Planner | Downers Grove, Il | Feb 22, 2024 | 12 y | 0 |
| Brian William PetersonCertified Financial Planner | Downers Grove, Il | Feb 22, 2024 | 17 y | 0 |
| Jeremy Thomas LorenzCertified Financial Planner | Downers Grove, Il | May 22, 2024 | 12 y | 0 |
| Michal GicalaCertified Financial Planner | Downers Grove, Il | May 31, 2024 | 13 y | 0 |
| Marisa Ann MarshallCertified Financial Planner | Downers Grove, Il | Jul 14, 2025 | 12 y | 0 |
| Ma Guadalupe NavarroCertified Financial Planner | Downers Grove, Il | Feb 13, 2026 | 12 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- Jeremy Richard Johnson to Veracity Wealth Management LLCJan 2, 2018 · Other
- Keith Andrew Plywaczynski to Mariner Wealth AdvisorsSep 10, 2015 · Other
Joined, latest
- John Timothy Koenig from Boyum Wealth Architects LLCFeb 7, 2024 · RIA to RIA
- Jeffrey Drew Hansen from Wells Fargo AdvisorsSep 26, 2023 · Wirehouse to independent RIA
- Nicholas Stephen Reed from Securities America Advisors, Inc.May 10, 2023 · Affiliated broker-dealer or bank to independent RIA
- Aldo Salvatore Vultaggio from Aepg Wealth StrategiesSep 23, 2016 · Other
- Robert John Wootton from Usaa Financial Planning ServicesMar 28, 2014 · Other
- Jeremy Richard Johnson from Whitnell & CoDec 16, 2011 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- E. Troy Bute · President/Directorcontrolsince 01/2018 · owns 25% to 50%
- Charles John Kosik · Directorcontrolsince 01/2018 · owns 5% to 10%
- Gierard Richard Marks · Secretary/Treasurercontrolsince 01/2018 · owns 5% to 10%
- Dwain Jason Telford · Directorcontrolsince 01/2018 · owns 10% to 25%
- Alan Drew Ahrens · Chief Compliance Officersince 02/2024 · owns less than 5%
- Michael Brian Niksa · Shareholdersince 01/2018 · owns 5% to 10%
- Salvatore Aldo Vultaggio · Shareholdersince 01/2018 · owns 5% to 10%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Downers Grove, Il · principal | 16 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Brentwood, TN1 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Mar 31, 2026KOSIK, JOHN, CHARLES (DIRECTOR) left Schedule A between the filings of 2024-03-27 and 2026-03-31peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Mar 31, 2026MARKS, RICHARD, GIERARD (SECRETARY/TREASURER) left Schedule A between the filings of 2024-03-27 and 2026-03-31peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Accounts · 4,008 to 4,173Mar 28, 2025 to Mar 31, 2026
- HNW clients · 420 to 376Mar 28, 2025 to Mar 31, 2026
- Individual clients · 479 to 692Mar 28, 2025 to Mar 31, 2026
- Pension plan clients · 7 to 4Mar 28, 2025 to Mar 31, 2026
- Assets in custody · $2.2B to $281MMar 28, 2025 to Mar 31, 2026
- Discretionary RAUM · $2.4B to $2.9BMar 28, 2025 to Mar 31, 2026
- HNW RAUM · $2.3B to $2.6BMar 28, 2025 to Mar 31, 2026
- Individual RAUM · $155M to $264MMar 28, 2025 to Mar 31, 2026
- Non-discretionary RAUM · $8.4M to $7.9MMar 28, 2025 to Mar 31, 2026
- Pension RAUM · $10.3M to $7.1MMar 28, 2025 to Mar 31, 2026
- RAUM · $2.4B to $2.9BMar 28, 2025 to Mar 31, 2026
- Accounts · 3,159 to 4,008Dec 13, 2024 to Mar 28, 2025
- HNW clients · 362 to 420Dec 13, 2024 to Mar 28, 2025
- Individual clients · 300 to 479Dec 13, 2024 to Mar 28, 2025
- Pension plan clients · 6 to 7Dec 13, 2024 to Mar 28, 2025
- Assets in custody · $1.3B to $2.2BDec 13, 2024 to Mar 28, 2025
- Employees · 31 to 30Dec 13, 2024 to Mar 28, 2025
- Financial planning clients · More than 500 to More than 500Dec 13, 2024 to Mar 28, 2025
- State-registered IARs · 9 to 16Dec 13, 2024 to Mar 28, 2025
- Discretionary RAUM · $2.1B to $2.4BDec 13, 2024 to Mar 28, 2025
- HNW RAUM · $2.0B to $2.3BDec 13, 2024 to Mar 28, 2025
- Individual RAUM · $121M to $155MDec 13, 2024 to Mar 28, 2025
- Non-discretionary RAUM · $6.5M to $8.4MDec 13, 2024 to Mar 28, 2025
- Pension RAUM · $9.1M to $10.3MDec 13, 2024 to Mar 28, 2025
- RAUM · $2.1B to $2.4BDec 13, 2024 to Mar 28, 2025
- Other offices · 0 to 1Mar 27, 2024 to Dec 13, 2024
- Accounts · 2,846 to 3,159Mar 31, 2023 to Mar 27, 2024
- Advisory employees · 21 to 25Mar 31, 2023 to Mar 27, 2024
- HNW clients · 349 to 362Mar 31, 2023 to Mar 27, 2024
- Individual clients · 279 to 300Mar 31, 2023 to Mar 27, 2024
- Pension plan clients · unset to 6.0Mar 31, 2023 to Mar 27, 2024
- Assets in custody · $198M to $1.3BMar 31, 2023 to Mar 27, 2024
- Employees · 25 to 31Mar 31, 2023 to Mar 27, 2024
- State-registered IARs · 7 to 9Mar 31, 2023 to Mar 27, 2024
- Discretionary RAUM · $1.8B to $2.1BMar 31, 2023 to Mar 27, 2024
- HNW RAUM · $1.7B to $2.0BMar 31, 2023 to Mar 27, 2024
- Individual RAUM · $109M to $121MMar 31, 2023 to Mar 27, 2024
- Non-discretionary RAUM · $9.6M to $6.5MMar 31, 2023 to Mar 27, 2024
- Pension RAUM · $3.6M to $9.1MMar 31, 2023 to Mar 27, 2024
- RAUM · $1.8B to $2.1BMar 31, 2023 to Mar 27, 2024
Signals
No event on the tape.
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business email
- capstonesocialmedia@capstone-advisors.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 630-241-0834reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 615-570-9851reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 630-241-0833reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- CAPSTONE-ADVISORS.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 630-241-0833reportedpublic record, Form ADV, Mar 31, 2026
- Contact form
- CAPSTONE-ADVISORS.COM/contact-usreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- CAPSTONE-ADVISORS.COM/teamreportedpublished by the firm, firm site, Sep 15, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $169Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026