Capital Square provides financial planning, portfolio management for individuals and small businesses, and educational seminars. Financial planning was provided to 1–10 clients last fiscal year.
Capital Square reports 715 clients. They include 587 individual clients, 117 high-net-worth individuals, and 8 pension and profit-sharing plans. Of its assets, 100.0% ($450M across 785 accounts) are managed with discretion. It advised 5 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 82% | 39% |
| High-net-worth individuals | 16% | 56% |
| Pension and profit-sharing plans | 1% | 2% |
| Charitable organizations | <1% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 587 | $176M | 39.1% | $300K |
| High-net-worth individuals | 117 | $252M | 56.0% | $2.15M |
| Pension and profit-sharing plans | 8 | $7.46M | 1.7% | $932K |
| Charitable organizations | 3 | $14.5M | 3.2% | $4.83M |
| Total | 715 | $450M | 100% | $629K |
- Clients
- 587
- Regulatory AUM
- $176M
- AUM share
- 39.1%
- Avg. per client
- $300K
- Clients
- 117
- Regulatory AUM
- $252M
- AUM share
- 56.0%
- Avg. per client
- $2.15M
- Clients
- 8
- Regulatory AUM
- $7.46M
- AUM share
- 1.7%
- Avg. per client
- $932K
- Clients
- 3
- Regulatory AUM
- $14.5M
- AUM share
- 3.2%
- Avg. per client
- $4.83M
Total
- Clients
- 715
- Regulatory AUM
- $450M
- AUM share
- 100%
- Avg. per client
- $629K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 5
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Capital Square charges up to 2.00% a year for its Assets under management fee. 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
- Financial Planning
- Financial planning or investment consulting is billed at a negotiated hourly or fixed rate, in arrears on completion of the service.
Notley Maddox owns 25% to 50% of Capital Square. The leadership team of Capital Square includes Chief Compliance Officer Notley Maddox. It has 11 employees.
Staff
- 11 employees
- 11 in advisory functions
- 11 state-registered reps
- 4 insurance agents
- Owns 25% to 50% of Capital Square, LLC
Notley Maddox
Control person · since January 2017
- Owns 25% to 50% of Capital Square, LLC
Stacy Eaton
Control person · since January 2017
- Owns 10% to 25% of Capital Square, LLC
Jeffrey Shelton
since January 2018
Capital Square’s regulatory assets grew 1.7× from $261M (March 2021) to $450M (August 2026); clients rose from 607 to 715 and employees from 8 to 11.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Aug 2026August 2026 | $450M | 715 | 11 | 7 |
| Mar 2025March 2025 | $394M | 668 | 10 | 6 |
| Mar 2024March 2024 | $302M | 597 | 9 | 6 |
| Mar 2023March 2023 | $301M | 573 | 10 | 5 |
| Apr 2022April 2022 | $305M | 628 | 9 | 5 |
| Mar 2021March 2021 | $261M | 607 | 8 | 5 |
Besides its headquarters, Capital Square has 6 offices, with 7 listed addresses across 5 states.
Alabama · 2 listed addresses
- 761 Middle St, Fairhope
- 27267 Perdido Beach BLVD, Orange Beach
Tennessee · 2 listed addresses
- 1 West College St, Suite 4, AthensHQ
- 2034 Hamilton Place BLVD, Chattanooga
Arkansas · 1 listed address
- Plaza West Building, Little Rock
Georgia · 1 listed address
- 631 Spring Street, Se, Gainesville
Texas · 1 listed address
- 5006 Lakeland Circle, Waco
Other business names
Capital Square has reported 1 other business name to the SEC.
- Town Square Wealth Management and Consulting
Contact and registration details
- Legal name
- Capital Square, LLC
- Headquarters
- 1 West College St, Suite 4, Athens, TN 37303
- Website
- townsquareconsulting.com
- Phone
- 423-877-6708
- @town-square-consulting-llc
- SEC file
- 801-108796
- Structure
- Tennessee LLC
- Fiscal year end
- December
Capital Square does not have custody of client assets.
At year end, Capital Square’s separately managed accounts were largely in stocks (45%) and cash (20%). Its reported 13F holdings for the quarter ended 30 June 2026 total $228M across 241 positions; the largest are Vanguard Total Stock Market ETF (6.8%), iShares TR Pfd And Incm Sec (2.6%) and Eli Lilly & Company (2.5%).
What the accounts hold
- Stocks45%
- Funds15%
- Bonds9%
- U.S. government and agency bonds8%
- Investment grade corporate bonds1%
- Cash20%
- Other11%
- Reits, annuities, alternatives11%
How many clients does Capital Square have?
Capital Square has 715 clients and manages $450 million for them, as of August 2026. They include 587 individual clients, 117 high-net-worth individuals, and 8 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 15 August 2026
What services does Capital Square offer?
Capital Square provides financial planning, portfolio management for individuals and small businesses, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Capital Square charge?
Capital Square charges up to 2.00% a year for its Assets under management fee. The fee is billed in advance and is negotiable.
How many financial advisors does Capital Square have?
Capital Square has 11 investment adviser representatives registered with state securities authorities, out of 11 employees, and 11 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 4 employees are 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 Capital Square invest in?
At the end of its last fiscal year, Capital Square’s separately managed accounts held 45% exchange-traded equities, 20% cash and equivalents, 15% registered funds (mutual funds, ETFs, BDCs), 11% other, 8% U.S. government and agency bonds and 1% investment grade corporate bonds. The 11% other category is described as: Reits, Annuities, Alternatives.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Capital Square?
Capital Square’s direct owners are Notley Maddox, Stacy Eaton and Jeffrey Shelton, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 15 August 2026
How does Capital Square get paid?
Capital Square is paid through a percentage of assets under management, hourly charges 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 Capital Square?
Capital Square’s main office is at 1 West College St, Suite 4, Athens, TN 37303. Its phone number is 423-877-6708. Its website is townsquareconsulting.com.
