Capstone Capital provides financial planning, portfolio management for individuals and small businesses, business succession planning, estate planning, insurance, philanthropic planning, and tax planning. Financial planning was provided to 11–25 clients last fiscal year.
Capstone Capital reports 200 clients. They include 106 individual clients, 92 high-net-worth individuals and 1 banking or thrift institution. Of its assets, 100.0% ($408M across 551 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 53% | 12% |
| High-net-worth individuals | 46% | 76% |
| Banking or thrift institutions | <1% | 12% |
| Charitable organizations | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 106 | $49.1M | 12.0% | $463K |
| High-net-worth individuals | 92 | $309M | 75.5% | $3.35M |
| Banking or thrift institutions | Fewer than 5 | $48.7M | 11.9% | $48.7M |
| Charitable organizations | Fewer than 5 | $2.16M | 0.5% | $2.16M |
| Total | 200 | $408M | 100% | — |
- Clients
- 106
- Regulatory AUM
- $49.1M
- AUM share
- 12.0%
- Avg. per client
- $463K
- Clients
- 92
- Regulatory AUM
- $309M
- AUM share
- 75.5%
- Avg. per client
- $3.35M
- Clients
- Fewer than 5
- Regulatory AUM
- $48.7M
- AUM share
- 11.9%
- Avg. per client
- $48.7M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.16M
- AUM share
- 0.5%
- Avg. per client
- $2.16M
Total
- Clients
- 200
- Regulatory AUM
- $408M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
Capstone Capital charges 0.50%–1.00% a year for its Investment Management Fees. Each asset band is charged at its own rate. The fee is billed in arrears, has a $10,000 annual minimum and requires an account of at least $1,000,000. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$5M | 1.00% |
| $5M–$10M | 0.75% |
| $10M and above | 0.50% |
Fee details and sources
Other fees
- Financial Planning
- A one-time fixed fee from $5,000 to $20,000 based on the scope and complexity of planning needs, collected in advance.
- Non-advisory work
- Up to $500 per hour for work not related to investment advisory services, charged to clients who do not receive advisory services.
Dawson Holdings LLC owns 75% or more of Capstone Capital and is in turn owned by Adam Dawson (75% or more). It has 5 employees, 3 of them in advisory roles.
Leadership
- Adam CorrieCCO / Director of Operations
Adam DawsonCEO
Investment adviser representatives
5 representatives listed in the SEC register as of 9 October 2026.
Staff
- 5 employees
- 3 in advisory functions
- 5 state-registered reps
- 1 soliciting firm
- Owns 75% or more of Capstone Capital LLC
Dawson Holdings LLC
Control person · since December 2021
- Owns 75% or more of Dawson Holdings LLC
Adam Dawson
Control person · since December 2021
Capstone Capital’s regulatory assets grew from $285M (June 2021) to $408M (July 2026); clients fell from 284 to 200 and employees from 7 to 5.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| July 2026 | $408M | 200 | 5 | 1 |
| March 2025 | $360M | 201 | 6 | 1 |
| April 2024 | $321M | 253 | 5 | 1 |
| July 2023 | $314M | 324 | 5 | 1 |
| February 2022 | $339M | 361 | 8 | 1 |
| June 2021 | $285M | 284 | 7 | 1 |
Besides its headquarters, Capstone Capital has 0 offices, with 1 listed address in Nevada.
Nevada · 1 listed address
- 2600 Paseo Verde Parkway, Ste. 150, HendersonHQ
Other business names
Capstone Capital has reported 1 other business name to the SEC.
- Capstone Capital Wealth Advisors
Contact and registration details
- Legal name
- Capstone Capital LLC
- Headquarters
- 2600 Paseo Verde Parkway, Ste. 150, Henderson, NV 89074-7167
- Website
- capstonecap.com
- Phone
- 702-433-7588
- @2829845
- SEC file
- 801-108040
- Founded
- 2002
- Structure
- Nevada LLC
- Fiscal year end
- December
Capstone Capital uses Charles Schwab ($408M) as custodian for its separately managed accounts. Capstone Capital has custody of $168M in client assets for 131 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $408M100%
At year end, Capstone Capital’s separately managed accounts were mostly in funds (64%) and bonds (26%). Its reported 13F holdings for the quarter ended 30 June 2026 total $175M across 26 positions; the largest are Dimensional ETF Trust (47.5%), Dimensional ETF Trust (22.7%) and Dimensional ETF Trust (12.1%).
What the accounts hold
- Stocks4%
- Funds64%
- Bonds26%
- State and local bonds21%
- U.S. government and agency bonds3%
- Investment grade corporate bonds2%
- Cash6%
Reported 13F holdings
- $175M
- Reported 13F value
- 26
- Positions
- 97.0%
- In the 10 largest
- +12.8%
- Value vs. prior quarter
- Dimensional ETF Trust · US Cor Equ 2 ETF47.5%
- Dimensional ETF Trust · Intl Core Equity22.7%
- Dimensional ETF Trust · Emerging Mkts CO12.1%
- Vanguard Scottsdale Fds · Shrt Trm Corp. BD7.1%
- Vanguard Mun BD Fds · Tax Exempt BD5.8%
- Apple Inc.0.5%
- Vanguard Scottsdale Fds · Int-term Corp.0.4%
- Nvidia Corporation0.4%
- Invesco Exch Traded FD TR II · Taxable Mun BD0.3%
- Microsoft Corp.0.3%
Together, the ten largest are 97.0% of reported value.
How many clients does Capstone Capital have?
Capstone Capital has 200 clients and manages $408 million for them, as of July 2026. They include 106 individual clients, 92 high-net-worth individuals and 1 banking or thrift institution.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 7 July 2026
What services does Capstone Capital offer?
Capstone Capital provides financial planning, portfolio management for individuals and small businesses, business succession planning, estate planning, insurance, philanthropic planning, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Capstone Capital charge?
Capstone Capital charges 0.50%–1.00% a year for its Investment Management Fees. Each asset band is charged at its own rate. The fee is billed in arrears, has a $10,000 annual minimum and requires an account of at least $1,000,000.
Source: CAPSTONE CAPITAL WEALTH ADVISORS ADV PART 2A ANNUAL AMENDMENT V.02.24.26, filed 24 February 2026
Which custodians does Capstone Capital use?
Capstone Capital’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $408M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 7 July 2026
How many financial advisors does Capstone Capital have?
Capstone Capital has 5 investment adviser representatives registered with state securities authorities, out of 5 employees, and 3 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 Capstone Capital invest in?
At the end of its last fiscal year, Capstone Capital’s separately managed accounts held 64% registered funds (mutual funds, ETFs, BDCs), 21% state and local bonds, 6% cash and equivalents, 4% exchange-traded equities, 3% U.S. government and agency bonds and 2% investment grade corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Capstone Capital have a minimum investment?
Yes, Capstone Capital’s minimum account size for its Investment Management Fees is $1M. It charges a $10K annual minimum fee.
Source: CAPSTONE CAPITAL WEALTH ADVISORS ADV PART 2A ANNUAL AMENDMENT V.02.24.26, filed 24 February 2026
Who owns Capstone Capital?
Capstone Capital is owned through a holding company by Adam Dawson. Its direct owner is Dawson Holdings LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 7 July 2026
How does Capstone Capital get paid?
Capstone 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 Capstone Capital?
Capstone Capital’s main office is at 2600 Paseo Verde Parkway, Ste. 150, Henderson, NV 89074-7167. Its phone number is 702-433-7588. Its website is capstonecap.com.