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 Wealth
Legal name Capstone Wealth Management, Inc.
Latest filing Mar 25, 2026
First filing on the tape Feb 21, 2012 · 5 filings
SEC status approved since Apr 18, 2025
RAUM
$354M
reported, Item 5.F
Discretionary
95%
of RAUM
Private clients
89%
$316M individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$59.0M
derived; firm RAUM over IAPD count
Employees
8
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
5 filings and snapshots on the tape
RAUM$354M as of Mar 25, 2026
Feb 21, 2012$53.8M then
HNW client RAUM$285M as of Mar 25, 2026
Mar 19, 2025$236M then
State-registered IARs (5.B.3)4 as of Mar 25, 2026
Feb 21, 20120 then
Employees (5.A)8 as of Mar 25, 2026
Mar 19, 20256 then
Private funds: no history
RAUM +18% over the last fiscal yearIARs 4 to 4
Practice profile
derived from the filing of Mar 25, 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
- $59.0MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 27derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.4MderivedHNW RAUM over HNW clients
- Average account
- $697,395derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 95%derivedof RAUM
- Institutional
- 4.3%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.3derivedItem 5.A over advisors
- Advisors per office
- 6.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +18%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +6.7%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individualsreportedItem 5.G
- 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
- is an insurance broker or agent (6.A.6)
- 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$285M81%
- Individuals$30.8M8.7%
- Corporations and businesses$22.9M6.5%
- Charitable organizations$15.3M4.3%
- Individual clients
- 75reported
- HNW clients
- 84reported
- Pension plan clients
- n/areported
- Charitable clients
- 5reported
- Accounts
- 508reported
- Financial planning clients
- 11-25reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.89 fund_share=0.0 institutional_share=0.04 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
6 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Mark David Thomas | Billings, Mt | Mar 15, 2004 | 39 y | 2 |
| Thomas Macfarland WebberCertified Financial Planner | Billings, Mt | Jan 5, 2017 | 15 y | 1 |
| Austin David Thomas | Billings, Mt | Mar 11, 2022 | 10 y | 0 |
| Nicole Raelynn Chakos | Billings, Mt | Apr 17, 2023 | 12 y | 0 |
| Josiah David Jagoda | Billings, Mt | May 7, 2026 | 10 y | 0 |
| Marcene Piper Skillen-Robison | Billings, Mt | Jun 16, 2026 | 13 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
- Tracy Weidler Hawbaker to Cladis Investment Advisory LLCJul 16, 2010 · Other
- Nicholas Richard Cladis to Cladis Investment Advisory LLCMay 19, 2010 · Other
Joined, latest
- Thomas Macfarland Webber from Pruco Securities, LLCJan 5, 2017 · Other
- Nicholas Richard Cladis from UBS Financial Services Inc.Feb 6, 2007 · Other
- Tracy Weidler Hawbaker from UBS Financial Services Inc.Feb 5, 2007 · Other
- Mark David Thomas from The Concord Equity Group, LLCMar 15, 2004 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- David Mark Thomas · President & Chief Compliance Officercontrolsince 01/2003 · owns 75% or more
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 |
|---|---|---|---|---|---|
| Billings, Mt · principal | 6 | 2 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 465 to 508Nov 17, 2025 to Mar 25, 2026
- Corporate clients · unset to 5.0Nov 17, 2025 to Mar 25, 2026
- HNW clients · 69 to 84Nov 17, 2025 to Mar 25, 2026
- Individual clients · 80 to 75Nov 17, 2025 to Mar 25, 2026
- Employees · 6 to 8Nov 17, 2025 to Mar 25, 2026
- Discretionary RAUM · $283M to $336MNov 17, 2025 to Mar 25, 2026
- HNW RAUM · $236M to $285MNov 17, 2025 to Mar 25, 2026
- Individual RAUM · $32.4M to $30.8MNov 17, 2025 to Mar 25, 2026
- Non-discretionary RAUM · $18.2M to $18.4MNov 17, 2025 to Mar 25, 2026
- RAUM · $301M to $354MNov 17, 2025 to Mar 25, 2026
- Accounts · 232 to 465Feb 27, 2012 to Mar 19, 2025
- Advisory employees · unset to 4.0Feb 27, 2012 to Mar 19, 2025
- Business name · CAPSTONE WEALTH MANAGEMENT to CAPSTONE WEALTHFeb 27, 2012 to Mar 19, 2025
- Charity clients · unset to 5.0Feb 27, 2012 to Mar 19, 2025
- HNW clients · unset to 69.0Feb 27, 2012 to Mar 19, 2025
- Individual clients · unset to 80.0Feb 27, 2012 to Mar 19, 2025
- Employees · unset to 6.0Feb 27, 2012 to Mar 19, 2025
- Financial planning clients · 51-100 to 11-25Feb 27, 2012 to Mar 19, 2025
- State-registered IARs · 0 to 4Feb 27, 2012 to Mar 19, 2025
- Other offices · unset to 0.0Feb 27, 2012 to Mar 19, 2025
- Discretionary RAUM · $52.8M to $283MFeb 27, 2012 to Mar 19, 2025
- HNW RAUM · unset to 236432884.0Feb 27, 2012 to Mar 19, 2025
- Individual RAUM · unset to 32366234.0Feb 27, 2012 to Mar 19, 2025
- Non-discretionary RAUM · $1.0M to $18.2MFeb 27, 2012 to Mar 19, 2025
- RAUM · $53.8M to $301MFeb 27, 2012 to Mar 19, 2025
Signals
1 dated events
- Capstone Wealth reported RAUM $301.1M, up 459% from $53.8M (2012-02-27 to 2025-03-19)Mar 19, 2025 · RAUM change · derived
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
- 406-325-1500reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- LINKEDIN.COM/COMPANY/2504633reportedpublic record, Form ADV, Sep 17, 2026
- Website
- CAPSTONERETIRE.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 406-325-1500reportedpublic record, Form ADV, Mar 25, 2026
- Team page
- capstoneretire.com/our-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
- $59.0Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026