Capital Market Consultants

What Capital Market Consultants does

Capital Market Consultants, operating under the registered legal entity Capital Market Advisors, LLC (CMA), is a private Registered Investment Advisor (RIA) founded in 2002 that provides outsourced investment solutions to wealth advisors and financial advisory practices. The firm operates as a B2B service provider in the registered investment advisory sector, enabling advisors to either enhance their existing investment offerings or fully outsource portfolio management functions to a third-party professional team. Headquartered in Milwaukee, Wisconsin, and registered in Illinois, Wisconsin, and New Mexico, the company is described as independent and employee-owned, operating under the UP Capital holding umbrella alongside affiliated firms ICR Partners and MainStreet Advisors.

CMA's product architecture follows a platform-plus-modules model, with the core suite comprising four offerings: Direct Indexing (a customizable approach that replicates an index while enabling tax-loss harvesting and personalization around values, sectors, or risk exposures); Fund Allocation Portfolios (professionally constructed blends of mutual funds and ETFs designed for diversified, risk-aligned exposure); Manager Select (a platform that curates vetted third-party asset managers for advisor access); and OCIO (Outsourced Chief Investment Officer) services for full delegation of investment management. Technology integration occurs through the UP Capital platform, which combines innovation and market expertise across sibling entities. The firm is positioned as employee-owned and rooted in a fiduciary standard, serving wealth advisors across three U.S. states.

Revenue is generated through recurring advisory fees, likely structured as a percentage of assets under management or via negotiated advisory contracts. The go-to-market approach is relationship-driven enterprise field sales targeting advisory practices rather than self-serve product adoption, supported primarily by website content, video, and educational resources. No public pricing is disclosed.

Name

Capital Market Consultants

Legal name

Capital Market Advisors, LLC

Website

https://cmarkc.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

Capital Market Consultants (operating as Capital Market Advisors) is a private Registered Investment Advisor providing outsourced investment solutions—including Direct Indexing, Fund Allocation Portfolios, Manager Select, and OCIO services—to wealth advisors across Illinois, Wisconsin, and New Mexico.

Ownership category

akta.pro rank

Product category

Investment Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)

akta.pro secondary industry

Corporate Finance & Capital Advisory (BPAHADAB)

Keywords

• Investment advisory services
• Wealth management solutions
• Outsourced CIO services
• Portfolio management
• Direct indexing

Headquarters

HQ city

Milwaukee

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Investment Advisory Services: CMA operates as a Registered Investment Advisor providing outsourced investment management solutions to wealth advisors. Revenue is generated through advisory fees charged for investment advice and portfolio management services, likely based on assets under management or advisory contracts.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Capital Market Advisors (CMA) provides outsourced investment solutions to wealth advisors, offering Direct Indexing, Fund Allocation Portfolios, Manager Select access to vetted third-party asset managers, and OCIO (Outsourced Chief Investment Officer) services. The firm, operating as a Registered Investment Advisor in Illinois, Wisconsin, and New Mexico, enables financial advisors to enhance or outsource portfolio management functions under a fiduciary standard.

Product overview

Capital Market Advisors (CMA) is an independent, employee-owned investment solutions provider offering a platform-plus-modules architecture. The core offering includes Direct Indexing (customizable index replication with tax optimization), Fund Allocation Portfolios (professionally managed mutual fund and ETF portfolios), and Manager Select (access to vetted third-party asset managers). These solutions are complemented by OCIO (Outsourced CIO) services and are unified under the UP Capital umbrella alongside affiliated companies ICR Partners and MainStreet Advisors. The suite is designed to enable wealth advisors to outsource portfolio management elements while maintaining flexibility and professional oversight.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct Indexing

Quantifiable outcome

• Advisors using outsourced investment tools and OCIO services are able to grow faster, lower operating expenses, and streamline their operations while driving higher practice values.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• UP CapitalcoreStrategic or Co-development PartnerCMA is united with sibling companies under UP Capital, combining innovation, technology, and market expertise into a single platform for wealth advisors. UP Capital is described as building a toolbox of outsourced investment solutions that empower wealth advisors to better serve their clients.
• ICR PartnerscoreStrategic or Co-development PartnerCMA maintains affiliated company providing certain related financial advisory or consulting services. Clients may engage with any of the affiliated entities for permitted services subject to applicable agreements and disclosures.
• MainStreet AdvisorscoreStrategic or Co-development PartnerCMA maintains affiliated company providing certain related financial advisory or consulting services. Clients may engage with any of the affiliated entities for permitted services subject to applicable agreements and disclosures.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• Envestnet: The leading TAMP and advisor platform, offering model portfolios, direct indexing (via PMC), manager research, and OCIO services to wealth advisors—the same core functions CMA performs for its RIA clients.
• First Trust: ETF sponsor and model portfolio provider offering advisor-focused multi-asset fund allocation portfolios, comparable in product category to CMA's Fund Allocation Portfolios offering.
• Russell Investments: Long-standing OCIO and multi-asset model portfolio provider serving advisor and institutional channels; directly comparable in delivering outsourced portfolio construction and manager research to advisors.
• Orion Advisor Solutions: Provides wealth management technology, model portfolios, and portfolio construction tooling to independent advisors, overlapping directly with CMA's portfolio management and advisor services stack.
• Parametric Portfolio Associates: A leading direct indexing and custom portfolio manager used by advisors; competes head-to-head with CMA's direct indexing and customized index-replication capabilities.

Broad incumbents

• Cetera Financial Group: Large IBD and advisor support platform offering model portfolios, manager selection, and OCIO services across a national footprint; competes with CMA for advisor mandates but operates at much broader scale.
• SEI Investments: Large asset manager and OCIO provider with advisor-facing model portfolios and managed solutions, an established incumbent in the same outsourced investment platform space CMA targets.
• LPL Financial: The largest independent broker-dealer offering integrated wealth management solutions, including model portfolios and outsourced investment tools, addressing the same advisor outsourcing use cases as CMA.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/CMarkC2002

Revenue estimate

Valuation estimate

Number of profiles

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 Capital Market Consultants