Capstone Wealth Management

What Capstone Wealth Management does

Capstone Wealth Management is a privately held, fee-based Registered Investment Advisor founded in 2003 and headquartered in Billings, Montana. The firm serves a select client base of high-net-worth individuals, business owners, executives, farmers and ranchers, and multi-generational families, providing personalized wealth management, retirement and estate planning, business exit planning, and a family office-style service experience. The practice is led by principal Mark Thomas, who holds the AIF, AAMS, AWMA, and CRPS designations, and operates with a team of approximately ten professionals.

The firm's product offering is built on top of third-party institutional infrastructure rather than proprietary technology. Custody, portfolio accounting, and execution are delivered through Charles Schwab, while investment research and portfolio construction draw on Morningstar, Dimensional Fund Advisors, and Vanguard. Beyond standard AUM-based wealth management, Capstone has introduced Capstone Security Builder, a subscription investment research and portfolio review service priced at $5,000 annually, signaling an effort to diversify revenue beyond the traditional AUM fee model.

Capstone's business model is primarily asset-based, charging an annual fee ranging from 0.895% on smaller portfolios down to 0.4742% on larger balances, with a separate flat subscription for the Security Builder service. The firm is regionally concentrated in Montana and the surrounding market, with go-to-market driven by personal referrals, CPA and attorney networks, and long-standing client relationships. As a small, tightly-held boutique, it competes through advisor access, fiduciary positioning, and high-touch service rather than scale, technology, or product breadth.

Name

Capstone Wealth Management

Legal name

Capstone Wealth Management

Website

https://capstoneretire.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

1–10 employees

Short description

Capstone Wealth Management is a Billings, Montana-based Registered Investment Advisor founded in 2003 that provides wealth management, business exit planning, and family office-style services to a select group of high-net-worth individuals, business owners, executives, and families.

Ownership category

akta.pro rank

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)

akta.pro secondary industries

Private Banking Business Owners & Entrepreneur Solutions (Liquidity Events, Pre-IPO) (FSABADAK), Corporate Finance & Capital Advisory (BPAHADAB)

Keywords

• Fiduciary wealth management
• Business exit planning
• Investment advisory services
• Estate planning services
• Family office experience

Headquarters

HQ city

Billings

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Advisory Fees (AUM-based): Advisory fees are calculated as a percentage of total portfolio value and withdrawn quarterly from client accounts. Fee rates decrease as portfolio size increases, ranging from 0.895% for $2.5M portfolios to 0.4742% for $15M portfolios. This represents the primary revenue stream.
2. Capstone Security Builder Subscription: Subscription-based consulting service for business owners preparing to exit, and executives planning retirement. Billed at $5,000 annually ($1,250 per quarter). Provides financial planning guidance and transition support.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Capstone Wealth Management provides fee-only, fiduciary wealth management services for approximately 200 client families, integrating investment consulting, advanced financial planning, and ongoing relationship management. The firm specializes in business exit planning and serves business owners, executives, professionals, farmers and ranchers, commercial real estate owners, and high-net-worth families. A separate subscription offering, Capstone Security Builder, delivers structured investment advisory services for $5,000 per year.

Product overview

Capstone Wealth Management is a fiduciary wealth advisory firm offering a unified suite of wealth management services. The core offering is Wealth Management combining Investment Consulting, Advanced Planning, and Relationship Management. The firm specializes in Business Exit Planning for business owners looking to maximize their sale proceeds. Additional services include the Capstone Security Builder subscription for clients preparing for business transitions, and the Family Office Experience service model providing institutional-quality wealth services to a select client base.

Differentiator

Problem solved

Functional benefit

Brands

• Capstone Security Builder: Subscription service for business exit planning and financial transition support, available at $5,000 annually ($1,250 per quarter).

Products and services

• Wealth Management An integrated, fee-only wealth management engagement combining investment consulting, advanced financial planning, and ongoing relationship management for approximately 200 client families. Targeted at business owners, executives, professionals, farmers and ranchers, commercial real estate owners, and high-net-worth families.
• Business Exit Planning A specialized planning engagement that helps business owners prepare for the sale, transition, or succession of their businesses. Covers valuation considerations, tax-efficient structuring, and coordination with CPAs and attorneys.
• Family Office Experience A coordinated, multi-disciplinary service experience delivering family office-quality investment, estate, tax, and philanthropic planning coordination for high-net-worth families without the cost of an in-house family office.
• Capstone Security Builder A subscription-based investment advisory offering priced at $5,000 per year, providing ongoing investment management and advisory access on a flat-fee basis outside the firm's AUM-based wealth management pricing.

Quantifiable outcome

• 30-80% reduction in tax obligations for business sellers
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Partnerships

Four partnerships are on record, tiered core.

• Charles SchwabcoreTechnology or IntegrationCharles Schwab is a leading brokerage platform providing custody services and account management infrastructure for Capstone's client portfolios. Capstone clients access their accounts through Schwab's platform.
• MorningstarcoreTechnology or IntegrationMorningstar provides investment research, portfolio analysis tools, and performance reporting capabilities that Capstone uses to monitor and report on client portfolios.
• Dimensional Fund AdvisorscoreTechnology or IntegrationDimensional Fund Advisors is an investment firm providing institutional-grade investment strategies and products accessible to Capstone clients through their collective buying power.
• VanguardcoreTechnology or IntegrationVanguard provides investment management services and products that Capstone utilizes for client portfolios, offering low-cost index and actively managed funds.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Mariner Wealth Advisors: National RIA serving HNW individuals, families, and business owners with integrated wealth management, tax planning, and exit/succession services. Directly comparable in target client, holistic service model, and business-owner focus.
• Creative Planning: Large multi-disciplinary RIA offering wealth management, tax, estate, and business succession planning to HNW households and business owners. Comparable holistic, fee-based fiduciary model.
• Hightower Advisors: Private RIA partnership serving HNW clients with comprehensive wealth management, business exit, and estate planning services. Comparable fiduciary, fee-based advisory model targeting business owners and families.
• Carson Group: RIA platform with a strong emphasis on business-owner exit planning and holistic financial life planning. Directly comparable in the niche of serving owners through liquidity events and ongoing wealth management.
• Mercer Advisors: National RIA focused on HNW households with integrated investment, tax, estate, and retirement planning. Comparable fee-based fiduciary model and client segmentation (business owners, executives, retirees).
• Buckingham Strategic Wealth: Fee-only RIA serving HNW individuals and families with evidence-based investment management and comprehensive financial planning. Comparable fiduciary model and personalized planning approach.

Broad incumbents

• Edelman Financial Engines: One of the largest independent RIAs in the U.S., offering wealth management, planning, and investment advisory to mass-affluent and HNW clients. Comparable fee-based advisory model at significantly larger scale, including access to institutional pricing.
• Focus Financial Partners: Partnership platform for independent RIAs and wealth management firms, providing scale, technology, and operational support. Comparable as a fiduciary RIA but operates a roll-up model rather than a single-family practice.
• Vanguard Personal Advisor Services: Large incumbent wealth advisory offering low-cost, technology-enabled financial planning and portfolio management. Competes for HNW investors on price and scale, putting pressure on traditional RIAs like Capstone.

Others

• Schwab Intelligent Portfolios Premium: Hybrid robo-advisor with access to CFP advice offered by Capstone's custody partner (Schwab). Relevant as a lower-cost substitute for HNW clients considering Capstone's tiered advisory fees.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Capstone Wealth Management