Aspen Grove Capital provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, and selecting other managers. Financial planning was provided to 26–50 clients last fiscal year. The firm advises 2 private funds.
Aspen Grove Capital reports 42 clients. They include 40 individuals and 2 pooled investment vehicles. Of its assets, 83.1% ($5.54B across 3,076 accounts) are managed with discretion; $1.13B across 211 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 95% | 100% |
| Pooled investment vehicles | 5% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 40 | $6.65B | 99.6% | $166M |
| Pooled investment vehicles | 2 | $23.4M | 0.4% | $11.7M |
| Total | 42 | $6.67B | 100% | $159M |
- Clients
- 40
- Regulatory AUM
- $6.65B
- AUM share
- 99.6%
- Avg. per client
- $166M
- Clients
- 2
- Regulatory AUM
- $23.4M
- AUM share
- 0.4%
- Avg. per client
- $11.7M
Total
- Clients
- 42
- Regulatory AUM
- $6.67B
- AUM share
- 100%
- Avg. per client
- $159M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 2
- Financial planning clients last fiscal year
- 26–50
Aspen Grove Capital charges 0.60%–0.90% for its Asset Management Services. The brochure does not state whether the rate is annual. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Family Office Services
- Family office services are billed as a fixed fee, generally $50,000 to $1,000,000 per year, negotiated with the client and billed quarterly or semi-annually.
Jeffrey Kirwood owns 75% or more of Aspen Grove Capital. The leadership team of Aspen Grove Capital includes Chief Compliance Officer Richard Geisman. It has 22 employees, 12 of them in advisory roles.
Leadership
- Richard GeismanChief Compliance Officer
- Jeffrey KirwoodManaging Member
- Jeffrey KirwoodTrustee of Aspen Grove Trust
Investment adviser representatives
9 representatives listed in the SEC register as of 9 October 2026.
- Michael Ryan Barondess
- Adam Charles Joice
- Leo Joseph Kraunelis
- Natalie Anne Miller
- Jesse Sage Poznikowich
- Courtney Marie Ringlein
- Lydia Smith
- Burton Snyder Wiand
Staff
- 22 employees
- 12 in advisory functions
- 7 state-registered reps
- 2 soliciting firms
- Owns 75% or more of Aspen Grove Capital, LLC
Jeffrey Kirwood
Control person · since March 2011
- Owns 10% to 25% of Aspen Grove Capital, LLC
Richard Geisman
Control person · since February 2013
- Owns 10% to 25% of Aspen Grove Capital, LLC
Aspen Grove Trust
since May 2017
Aspen Grove Capital’s regulatory assets grew 1.8× from $3.73B (March 2021) to $6.67B (September 2026); clients rose from 11 to 42 and employees from 9 to 22.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $6.67B | 42 | 22 | 2 |
| March 2025 | $5.8B | 39 | 21 | 2 |
| March 2024 | $5.24B | 37 | 20 | 2 |
| March 2023 | $4.58B | 23 | 14 | 1 |
| March 2022 | $4.97B | 17 | 13 | 1 |
| March 2021 | $3.73B | 11 | 9 | 1 |
Besides its headquarters, Aspen Grove Capital has 1 office, with 2 listed addresses in Colorado.
Colorado · 2 listed addresses
- 137 Benchmark Road, Suite C103B-2, AvonHQ
- 2000 S Colorado Boulevard, Denver
Contact and registration details
- Legal name
- Aspen Grove Capital, LLC
- Headquarters
- 137 Benchmark Road, Suite C103B-2, Avon, CO 81620
- Website
- aspengrovellc.com
- Phone
- 970-688-4188
- @aspen-grove-capital-llc
- SEC file
- 801-78138
- Structure
- Colorado LLC
- Fiscal year end
- December
Aspen Grove Capital uses Morgan Stanley ($2.53B, 79%) and J.P. Morgan ($679M, 21%) as custodians for its separately managed accounts. Aspen Grove Capital has custody of $6.64B in client assets for 38 clients.
- Morgan StanleyMorgan Stanley Smith Barney LLC · New York, NY · $2.53B79%
- J.P. MorganJ.P. Morgan Securities LLC · New York, NY · $679M21%
At year end, Aspen Grove Capital’s separately managed accounts were largely in stocks (39%) and funds (36%). Its reported 13F holdings for the quarter ended 30 June 2026 total $694M across 214 positions; the largest are Liberty Media Corp. Del (9.3%), State Str SPDR S&P 500 ETF T (8.5%) and Liberty Media Corp. Del (4.4%).
What the accounts hold
- Stocks39%
- Funds36%
- Pooled vehicles22%
- Registered funds14%
- Bonds10%
- State and local bonds5%
- Investment grade corporate bonds3%
- U.S. government and agency bonds2%
- Cash6%
- Other9%
- Employee stock options, direct company investments, & cryptocurrency9%
Reported 13F holdings
- $694M
- Reported 13F value
- 214
- Positions
- 49.8%
- In the 10 largest
- +35.1%
- Value vs. prior quarter
- Liberty Media Corp. Del · Com Lbty One S C9.3%
- State Str SPDR S&P 500 ETF T · TR Unit8.5%
- Liberty Media Corp. Del · Com Lbty One S A4.4%
- iShares TR · Core S&P500 ETF4.4%
- Alphabet Inc. · Cap Stk CL A4.1%
- Axon Enterprise Inc.4.0%
- Booking Holdings Inc.3.8%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt3.8%
- Vanguard Index Fds · Total Stk Mkt3.8%
- Meta Platforms Inc. · CL A3.7%
Together, the ten largest are 49.8% of reported value.
How many clients does Aspen Grove Capital have?
Aspen Grove Capital has 42 clients and manages $6.67 billion for them, as of September 2026. They include 40 individuals and 2 pooled investment vehicles.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 14 September 2026
What services does Aspen Grove Capital offer?
Aspen Grove Capital provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Aspen Grove Capital charge?
Aspen Grove Capital charges 0.60%–0.90% for its Asset Management Services. The brochure does not state whether the rate is annual. The fee is billed in advance and is negotiable.
Which custodians does Aspen Grove Capital use?
Aspen Grove Capital’s separately managed account assets are held at Morgan Stanley Smith Barney LLC (New York, NY), with $2.53B and J.P. Morgan Securities LLC (New York, NY), with $679M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 14 September 2026
How many financial advisors does Aspen Grove Capital have?
Aspen Grove Capital has 7 investment adviser representatives registered with state securities authorities, out of 22 employees, and 12 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Aspen Grove Capital invest in?
At the end of its last fiscal year, Aspen Grove Capital’s separately managed accounts held 39% exchange-traded equities, 22% pooled vehicles (private funds and similar), 14% registered funds (mutual funds, ETFs, BDCs), 9% other, 6% cash and equivalents, 5% state and local bonds, 3% investment grade corporate bonds and 2% U.S. government and agency bonds. The 9% other category is described as: Employee Stock Options, Direct Company Investments, & Cryptocurrency. It advises 2 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Aspen Grove Capital?
Aspen Grove Capital’s direct owners are Jeffrey Kirwood (75% or more), Richard Geisman (10% to 25%) and Aspen Grove Trust (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 14 September 2026
How does Aspen Grove Capital get paid?
Aspen Grove Capital is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Aspen Grove Capital?
Aspen Grove Capital’s main office is at 137 Benchmark Road, Suite C103B-2, Avon, CO 81620. Its phone number is 970-688-4188. Its website is aspengrovellc.com.