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
Colorado Capital Management
Legal name Colorado Capital Management, Inc.
Latest filing Feb 17, 2026
First filing on the tape Mar 22, 2012 · 36 filings
SEC status approved since Feb 1, 2002
RAUM
$638M
reported, Item 5.F
Discretionary
89%
of RAUM
Private clients
97%
$618M individuals and HNW
Advisors
10
registered through the firm on IAPD
RAUM per advisor
$63.8M
derived; firm RAUM over IAPD count
Employees
10
10 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
36 filings and snapshots on the tape
RAUM$638M as of Feb 17, 2026
Mar 22, 2012$148M then
HNW client RAUM$565M as of Feb 17, 2026
Feb 16, 2018$273M then
State-registered IARs (5.B.3)10 as of Feb 17, 2026
Mar 22, 20120 then
Employees (5.A)10 as of Feb 17, 2026
Apr 1, 20136 then
Private funds: no history
RAUM +14% over the last fiscal year+13% a year over threeIARs 9 to 10
Practice profile
derived from the filing of Feb 17, 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
- RAUM per advisor
- $63.8MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 23derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.6MderivedHNW RAUM over HNW clients
- Average account
- $629,563derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 89%derivedof RAUM
- Institutional
- 3.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 10.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +14%derivedbetween the last two annual amendments
- Advisor growth, one year
- +11%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +6.8%derived
- Compensation
- percentage of assets, hourlyreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, selection of other advisers, publicationsreportedItem 5.G
- Custody
- $84.4M, 24 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)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$565M89%
- Individuals$52.6M8.2%
- Charitable organizations$20.7M3.2%
- Individual clients
- 77reported
- HNW clients
- 157reported
- Pension plan clients
- n/areported
- Charitable clients
- 7reported
- Accounts
- 1,014reported
- Financial planning clients
- 26-50reported
- Wrap fee programs
- noreported
- Custody of client assets
- $84.4M for 24 clientsreported
- Compensation
- % of AUM, hourlyreported
- Class basis
- private_client_share=0.97 fund_share=0.0 institutional_share=0.03 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
10 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Steven Lloyd Ellis | Boulder, Co | Mar 22, 2000 | 39 y | 0 |
| Andrew Keith Gilson | Boulder, Co | Nov 27, 2007 | 25 y | 0 |
| Lee Michael Strongwater | Boulder, Co | Mar 3, 2010 | 24 y | 2 |
| Zuzana Birova | Boulder, Co | Apr 2, 2018 | 18 y | 0 |
| Vincent Leon OtterbeinCertified Financial Planner | Boulder, Co | May 11, 2020 | 10 y | 0 |
| Jason Gregary BlackCertified Financial Planner | Boulder, Co | Aug 12, 2021 | 19 y | 1 |
| Erica Nicole Loughrey | Boulder, Co | Nov 4, 2021 | 10 y | 0 |
| Max Brandon Pulitzer | San Francisco, Ca | Jan 1, 2025 | 17 y | 0 |
| Margaret Ann Nugent | Boulder, Co | Dec 8, 2025 | 27 y | 0 |
| Emily Jean LuceroCertified Financial Planner | Boulder, Co | May 6, 2026 | 10 y | 1 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- Madeline Rose Barconi to Breakwater Capital GroupNov 21, 2022 · RIA to RIA
- Erica Michelle Schnabel to Mountain Flower Investments & Planning, LLCAug 7, 2019 · RIA to a state-registered adviser
- Julia Wentworth to Bsw Wealth PartnersMar 27, 2019 · RIA to RIA
- Kirsten Elizabeth Roeber to Silverpeak Wealth AdvisorsAug 30, 2018 · RIA to RIA
- Colleen Harvey to Cibc Private Wealth Advisors, Inc.Jul 27, 2018 · RIA to affiliated broker-dealer or bank
- Debra Herz Huttner to Pearl Wealth LLCMay 30, 2018 · RIA to RIA
- Henry Melville Nicholson to Silverpeak Wealth AdvisorsMay 21, 2014 · Other
Joined, latest
- Emily Jean Lucero from Raymond James Financial Services Advisors, IncMay 6, 2026 · Affiliated broker-dealer or bank to independent RIA
- Madeline Rose Barconi from Fidelity Personal And Workplace AdvisorsFeb 11, 2022 · Affiliated broker-dealer or bank to independent RIA
- Jason Gregary Black from Curian Capital, LLCAug 12, 2021 · Other
- Colleen Harvey from Merrill Lynch, Pierce, Fenner & Smith IncorporatedMay 22, 2018 · Wirehouse to independent RIA
- Lee Michael Strongwater from Strongwater Schott, Ltd.Mar 3, 2010 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Lloyd Steven Ellis · President, Chief Compliance Officercontrolsince 02/2000 · owns 50% to 75%
- Michael Lee Strongwater · Vice Presidentcontrolsince 03/2010 · owns 25% to 50%
- Gregary Jason Black · Shareholdersince 01/2022 · owns 10% to 25%
- Keith Andrew Gilson · Shareholdersince 01/2022 · owns less than 5%
- Nicole Erica Loughrey · Shareholdersince 01/2022 · owns less than 5%
- Brandon Max Pulitzer · Shareholdersince 01/2022 · owns less than 5%
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 |
|---|---|---|---|---|---|
| Boulder, Co · principal | 10 | 2 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 1,126 to 1,014Nov 19, 2025 to Feb 17, 2026
- Advisory employees · 9 to 10Nov 19, 2025 to Feb 17, 2026
- Charity clients · 6 to 7Nov 19, 2025 to Feb 17, 2026
- HNW clients · 111 to 157Nov 19, 2025 to Feb 17, 2026
- Individual clients · 108 to 77Nov 19, 2025 to Feb 17, 2026
- Assets in custody · $82.3M to $84.4MNov 19, 2025 to Feb 17, 2026
- Employees · 9 to 10Nov 19, 2025 to Feb 17, 2026
- State-registered IARs · 9 to 10Nov 19, 2025 to Feb 17, 2026
- Discretionary RAUM · $473M to $570MNov 19, 2025 to Feb 17, 2026
- HNW RAUM · $487M to $565MNov 19, 2025 to Feb 17, 2026
- Individual RAUM · $58.5M to $52.6MNov 19, 2025 to Feb 17, 2026
- Non-discretionary RAUM · $87.2M to $68.4MNov 19, 2025 to Feb 17, 2026
- RAUM · $560M to $638MNov 19, 2025 to Feb 17, 2026
- Financial planning clients · 26-50 to 26-50Feb 6, 2025 to Jul 14, 2025
- Accounts · 1,077 to 1,126Feb 15, 2024 to Feb 6, 2025
- HNW clients · 99 to 111Feb 15, 2024 to Feb 6, 2025
- Individual clients · 115 to 108Feb 15, 2024 to Feb 6, 2025
- Assets in custody · $84.8M to $82.3MFeb 15, 2024 to Feb 6, 2025
- Employees · 10 to 9Feb 15, 2024 to Feb 6, 2025
- Discretionary RAUM · $431M to $473MFeb 15, 2024 to Feb 6, 2025
- HNW RAUM · $430M to $487MFeb 15, 2024 to Feb 6, 2025
- Individual RAUM · $58.9M to $58.5MFeb 15, 2024 to Feb 6, 2025
- Non-discretionary RAUM · $68.8M to $87.2MFeb 15, 2024 to Feb 6, 2025
- RAUM · $500M to $560MFeb 15, 2024 to Feb 6, 2025
- Accounts · 859 to 1,077Apr 7, 2023 to Feb 15, 2024
- HNW clients · 96 to 99Apr 7, 2023 to Feb 15, 2024
- Individual clients · 116 to 115Apr 7, 2023 to Feb 15, 2024
- Assets in custody · $70.6M to $84.8MApr 7, 2023 to Feb 15, 2024
- Employees · 9 to 10Apr 7, 2023 to Feb 15, 2024
- State-registered IARs · 0 to 9Apr 7, 2023 to Feb 15, 2024
- Discretionary RAUM · $386M to $431MApr 7, 2023 to Feb 15, 2024
- HNW RAUM · $375M to $430MApr 7, 2023 to Feb 15, 2024
- Individual RAUM · $60.3M to $58.9MApr 7, 2023 to Feb 15, 2024
- Non-discretionary RAUM · $53.6M to $68.8MApr 7, 2023 to Feb 15, 2024
- RAUM · $440M to $500MApr 7, 2023 to Feb 15, 2024
- Accounts · 770 to 859Aug 25, 2022 to Feb 14, 2023
- Charity clients · 5 to 6Aug 25, 2022 to Feb 14, 2023
- HNW clients · 102 to 96Aug 25, 2022 to Feb 14, 2023
- Individual clients · 96 to 116Aug 25, 2022 to Feb 14, 2023
- Assets in custody · $73.0M to $70.6MAug 25, 2022 to Feb 14, 2023
Signals
1 dated events
- Madeline Rose Barconi left Colorado Capital Management for Breakwater Capital Group (registered 2023-02-07)Nov 21, 2022 · Advisor changed firm · fact
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 phone
- 303-444-9300reportedpublished by the firm, firm site, Sep 16, 2026
- Firm profile
- linkedin.com/company/colorado-capital-managementreportedpublic record, Form ADV, Sep 17, 2026
- Website
- COLORADOCAP.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 303-444-9300reportedpublic record, Form ADV, Feb 17, 2026
- Contact form
- coloradocap.com/contactreportedpublished by the firm, firm site, Sep 16, 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
- $63.8Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026