Donaldson Capital Management

What Donaldson Capital Management does

Donaldson Capital Management (DCM) is a privately-held, SEC-registered investment advisory firm headquartered in Evansville, Indiana, founded in 1995 by Greg Donaldson. The firm delivers financial planning and investment management services to three client segments: high-net-worth Individuals & Families (primary), Non-Profit organizations, and employer-sponsored Retirement Plans. As an SEC-registered investment advisor, DCM operates under a fiduciary standard and offers services including financial planning, retirement planning, estate planning, tax planning, 529 plan management, and Roth conversion strategy. The firm employs a documented dividend-oriented investment philosophy grounded in intrinsic value analysis and offers specialized strategies including Preservation of Capital, Income Builder, and Cornerstone.

DCM distributes services through four physical offices across Indiana (Evansville, Columbus, Indianapolis) and Georgia (Alpharetta), with a 75+ person team that includes multiple CFPs, CFAs, and ChFCs, plus a full CXO bench (CIO, COO, CXO, CFO/CCO). The technology stack is an integrator model rather than proprietary: client portal via Orion Advisor, financial planning via eMoney, custody with Charles Schwab and Fidelity, and retirement plan recordkeeping through Ascensus, Ameritas, and PCS Retirement. There is no disclosed proprietary platform, AI/ML capability, mobile app, or public API.

The business model is recurring AUM-based advisory fees billed annually, supplemented by financial planning engagements. As of 2025, DCM reported over $3.5 billion in assets under management and was named to Forbes America's Top 250 RIA Firms for the second consecutive year. Go-to-market is consultative and relationship-driven, supported by content marketing (The Outlook market commentary, Rising Dividend Report quarterly newsletter, blog, educational workshops) and a dedicated retirement plan services channel. In July 2026, DCM completed an acquisition of IMC Advisors, signaling the start of inorganic growth on top of an established organic multi-office platform.

Name

Donaldson Capital Management

Legal name

Donaldson Capital Management LLC

Website

https://dcmol.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

Donaldson Capital Management is an SEC-registered, fiduciary investment advisory firm managing over $3.5 billion in assets for high-net-worth individuals and families, non-profits, and employer retirement plans across four offices in Indiana and Georgia.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Discretionary Portfolio Management (Retail) (FSAAAAAH)

Keywords

• Investment advisory services
• Financial planning
• Wealth management
• Retirement plan services
• Investment management

Headquarters

HQ city

Evansville

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Advisory Fees: DCM generates revenue primarily through investment advisory fees charged as a percentage of assets under management (AUM). As an SEC-registered investment advisor, the firm operates under a fiduciary standard and must act in clients' best interests. The firm also offers financial planning services.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Donaldson Capital Management (DCM) is an SEC-registered investment advisor that delivers fee-based financial planning and investment management to high-net-worth individuals and families, non-profit organizations, and employer-sponsored retirement plans. Services include wealth management, retirement planning, estate and tax planning, 401(k) plan consulting, and customized financial plans grounded in a dividend-oriented, intrinsic-value investment philosophy.

Product overview

Donaldson Capital Management (DCM) operates as a unified financial planning and investment advisory platform offering comprehensive wealth management services. The core offering combines financial planning with investment management for Individuals & Families, Non-Profits, and Retirement Plans, supplemented by Custom Financial Plans. DCM's investment philosophy centers on dividend-oriented strategies and intrinsic value analysis. Client engagement is supported through quarterly Rising Dividend Report newsletters and regular market updates via The Outlook commentary. The firm also offers specialized investment strategies including Preservation of Capital, Income Builder, and Cornerstone. Retirement plan administration integrates with third-party platforms including Ascensus, Ameritas, and PCS Retirement, while client access is facilitated through Orion Advisor portal with custodians Charles Schwab and Fidelity. Educational savings products include 529 Plans and newly established Trump Accounts under the One Big Beautiful Bill Act.

Differentiator

Problem solved

Functional benefit

Products and services

• Individuals & Families Wealth Management Comprehensive financial planning and investment management tailored for individual investors and families, covering wealth accumulation, retirement planning, estate planning, tax optimization, and 529 college savings strategies.
• Non-Profit Investment Management Specialized investment management and endowment services for non-profit organizations, foundations, and endowments, including spending policy development and investment policy statements.
• Retirement Plan Services 401(k) and retirement plan advisory for business plan sponsors and participants, including plan design, administration support, fiduciary guidance, and participant education, delivered in partnership with Ascensus, Ameritas, and PCS Retirement.
• Custom Financial Plans Personalized financial planning engagements that address individual client goals, circumstances, Roth conversions, estate strategies, and tax-efficient withdrawal planning.
• 529 College Savings Plans State-authorized tax-advantaged education savings accounts with expanded qualified withdrawals for elementary and secondary school expenses up to $20,000 per year under OBBBA.
• Trump Accounts Tax-advantaged savings accounts for children born starting in 2025, created under the One Big Beautiful Bill Act, with government seed contributions and tax-deferred investment growth.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Partnerships

Seven partnerships are on record, tiered core and major.

• Charles Schwab CorporationcoreTechnology or IntegrationMajor custodian and brokerage platform for client assets. DCM clients access Charles Schwab through dedicated login portal for account management and trading.
• Fidelity InvestmentscoreTechnology or IntegrationMajor custodian and brokerage platform for client assets. DCM clients access Fidelity through dedicated login portal for account management and trading.
• Orion AdvisorcoreTechnology or IntegrationClient portal provider for DCM's secure client login and account access platform.
• eMoneycoreTechnology or IntegrationFinancial planning software platform used by DCM advisors for comprehensive financial planning with clients.
• AscensuscoreTechnology or IntegrationRetirement plan recordkeeping platform providing plan sponsor and participant login access for DCM-managed retirement plans.
• AmeritasmajorTechnology or IntegrationRetirement plan services partner providing plan sponsor and participant login access for DCM-managed retirement plans.
• PCS RetirementmajorTechnology or IntegrationRetirement plan services partner providing plan sponsor and participant login access for DCM-managed retirement plans.

Scale indicators2 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Carson Group: RIA and coaching community serving financial advisors and their clients with wealth management, retirement plan, and business consulting services. Directly comparable in RIA + retirement plan focus and advisor-driven growth model.
• Creative Planning: Large independent RIA providing wealth management, financial planning, and retirement plan services to individuals, families, and institutions. Highly comparable to DCM in service mix (comprehensive planning + investment management) and target client segments, though significantly larger in AUM.
• Buckingham Strategic Wealth: Independent RIA specializing in evidence-based investment management and financial planning for individuals and families. Highly comparable to DCM in RIA fiduciary model, focus on planning-led advice, and HNW client base.
• Mariner Wealth Advisors: Independent RIA offering comprehensive wealth advisory, tax, estate, and retirement plan services to HNW individuals and families. Closely comparable to DCM in service breadth, fiduciary RIA model, and multi-state office footprint.
• Ronald Blue Trust: National Christian-affiliated RIA providing investment management, financial planning, and estate services to HNW individuals and families. Comparable to DCM in fiduciary RIA model and comprehensive wealth planning approach.
• Moneta Group: Independent RIA providing investment management and financial planning to HNW individuals, families, and institutions. Comparable to DCM in fiduciary RIA structure, comprehensive planning, and HNW client focus.

Broad incumbents

• Focus Financial Partners: Leading RIA consolidator and partnership platform for independent wealth management firms. Comparable as a structural peer given DCM's apparent roll-up M&A trajectory (IMC Advisors acquisition).
• Edelman Financial Engines: One of the largest independent RIAs in the US, offering investment advisory, financial planning, and retirement plan services. Comparable in service mix but operates at much greater scale with a national footprint.
• Fidelity Wealth Services: Large-scale wealth management and brokerage franchise offering advisory and retirement services. Comparable broad wealth services but operates as a national incumbent with proprietary scale advantages.

Others

• Charles Schwab (Independent Advisor Services): Major custodian and brokerage platform that DCM's clients use for asset custody and trading. Functionally an enabling partner and infrastructure provider rather than a competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Donaldson Capital Management