Capstone Wealth Management provides financial planning, portfolio management for individuals and small businesses, business succession planning, estate planning, insurance, and retirement plan services. Financial planning was provided to 11–25 clients last fiscal year.
Capstone Wealth Management reports 169 clients. They include 84 high-net-worth individuals, 75 individual clients and 5 charitable organizations. Of its assets, 94.8% ($336M across 426 accounts) are managed with discretion; $18.4M across 82 accounts are not. It advised 20 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 44% | 9% |
| High-net-worth individuals | 50% | 81% |
| Charitable organizations | 3% | 4% |
| Corporations and other businesses | 3% | 6% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 75 | $30.8M | 8.7% | $411K |
| High-net-worth individuals | 84 | $285M | 80.5% | $3.4M |
| Charitable organizations | 5 | $15.3M | 4.3% | $3.06M |
| Corporations and other businesses | 5 | $22.9M | 6.5% | $4.57M |
| Total | 169 | $354M | 100% | $2.1M |
- Clients
- 75
- Regulatory AUM
- $30.8M
- AUM share
- 8.7%
- Avg. per client
- $411K
- Clients
- 84
- Regulatory AUM
- $285M
- AUM share
- 80.5%
- Avg. per client
- $3.4M
- Clients
- 5
- Regulatory AUM
- $15.3M
- AUM share
- 4.3%
- Avg. per client
- $3.06M
- Clients
- 5
- Regulatory AUM
- $22.9M
- AUM share
- 6.5%
- Avg. per client
- $4.57M
Total
- Clients
- 169
- Regulatory AUM
- $354M
- AUM share
- 100%
- Avg. per client
- $2.1M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 20
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
Capstone Wealth Management charges 0.55%–2.00% for its Wealth Management Services. The brochure does not state whether the rate is annual. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
| Asset band | Rate (period not stated) |
|---|---|
| $0–$249.999K | 2.00% |
| $249.999K–$499.999K | 1.50% |
| $499.999K–$999.999K | 1.20% |
| $999.999K–$2.499999M | 0.90% |
| $2.499999M–$4.999999M | 0.75% |
| $4.999999M and above | 0.55% |
Fee details and sources
Other fees
- General financial planning
- General financial planning is $300 per hour, negotiable, with a $300 minimum for phone research or advice; free with wealth management over $1 million.
Mark Thomas owns 50% to 75% of Capstone Wealth Management. The leadership team of Capstone Wealth Management includes President Mark Thomas and Chief Compliance Officer Thomas Webber. It has 8 employees, 4 of them in advisory roles.
Leadership
- Mark ThomasPresident
- Thomas WebberChief Compliance Officer
- Nicole ChakosFinancial Advisor & Marketing Officer
- Austin ThomasFinancial Advisor & Business Development Specialist
Investment adviser representatives
6 representatives listed in the SEC register as of 9 October 2026.
- Nicole Raelynn Chakos
- Josiah David Jagoda Mr.
- Marcene Piper Skillen-Robison
- Austin David Thomas
- Mark David Thomas
- Thomas Macfarland Webber
Staff
- 8 employees
- 4 in advisory functions
- 4 state-registered reps
- 5 insurance agents
- Owns 50% to 75% of Capstone Wealth Management, Inc.
Mark Thomas
Control person · since January 2003
- Owns 10% to 25% of Capstone Wealth Management, Inc.
Austin Thomas
since January 2023
- Owns 10% to 25% of Capstone Wealth Management, Inc.
Nicole Chakos
since January 2024
- Owns 5% to 10% of Capstone Wealth Management, Inc.
Thomas Webber
Control person · since March 2021
Capstone Wealth Management’s regulatory assets grew from $301M (March 2025) to $354M (March 2026); clients rose from 154 to 169 and employees from 6 to 8.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $354M | 169 | 8 | 1 |
| March 2025 | $301M | 154 | 6 | 1 |
Besides its headquarters, Capstone Wealth Management has 0 offices, with 1 listed address in Montana.
Montana · 1 listed address
- 1731 Poly Drive, BillingsHQ
Contact and registration details
- Legal name
- Capstone Wealth Management, Inc.
- Headquarters
- 1731 Poly Drive, Billings, MT 59102
- Website
- capstoneretire.com
- Phone
- 406-325-1500
- @2504633
- SEC file
- 801-132460
- Founded
- 2001
- Structure
- Montana corporation
- Fiscal year end
- December
Capstone Wealth Management uses Charles Schwab ($334M) as custodian for its separately managed accounts. Capstone Wealth Management does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $334M100%
At year end, Capstone Wealth Management’s separately managed accounts were mostly in funds (56%) and stocks (38%). Its reported 13F holdings for the quarter ended 30 June 2026 total $133M across 48 positions; the largest are Dimensional ETF Trust (34.7%), Dimensional ETF Trust (6.5%) and Dimensional ETF Trust (6.1%).
What the accounts hold
- Stocks38%
- Exchange-traded equities34%
- Non-exchange-traded equities4%
- Funds56%
- Registered funds47%
- Pooled vehicles9%
- Bonds2%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash4%
Reported 13F holdings
- $133M
- Reported 13F value
- 48
- Positions
- 74.7%
- In the 10 largest
- +13.0%
- Value vs. prior quarter
- Dimensional ETF Trust · US Core Equity 234.7%
- Dimensional ETF Trust · US Equity Market6.5%
- Dimensional ETF Trust · Intl Core Equity6.1%
- Dimensional ETF Trust · US Targeted Vlu6.0%
- iShares TR · Core S&P500 ETF4.7%
- Dimensional ETF Trust · Intl Core EQT MK4.2%
- American Centy ETF TR · Intl EQT ETF3.6%
- Dimensional ETF Trust · World X US Core3.4%
- Dimensional ETF Trust · Emgr Cre EQT Mng3.0%
- Dimensional ETF Trust · US High Profitab2.5%
Together, the ten largest are 74.7% of reported value.
How many clients does Capstone Wealth Management have?
Capstone Wealth Management has 169 clients and manages $354 million for them, as of March 2026. They include 84 high-net-worth individuals, 75 individual clients and 5 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 25 March 2026
What services does Capstone Wealth Management offer?
Capstone Wealth Management provides financial planning, portfolio management for individuals and small businesses, business succession planning, estate planning, insurance, and retirement plan services.
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 Wealth Management charge?
Capstone Wealth Management charges 0.55%–2.00% for its Wealth Management Services. The brochure does not state whether the rate is annual. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable.
Source: 2026 0325 CAPSTONE WEALTH SEC BROCHURE, filed 25 March 2026
Which custodians does Capstone Wealth Management use?
Capstone Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $334M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 25 March 2026
How many financial advisors does Capstone Wealth Management have?
Capstone Wealth Management has 4 investment adviser representatives registered with state securities authorities, out of 8 employees, and 4 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 5 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 Capstone Wealth Management invest in?
At the end of its last fiscal year, Capstone Wealth Management’s separately managed accounts held 47% registered funds (mutual funds, ETFs, BDCs), 34% exchange-traded equities, 9% pooled vehicles (private funds and similar), 4% non-exchange-traded equities, 4% cash and equivalents, 1% state and local bonds and 1% 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
Who owns Capstone Wealth Management?
Capstone Wealth Management’s direct owners are Mark Thomas (50% to 75%), Thomas Webber (5% to 10%), Austin Thomas (10% to 25%) and Nicole Chakos (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 25 March 2026
How does Capstone Wealth Management get paid?
Capstone Wealth Management 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 Capstone Wealth Management?
Capstone Wealth Management’s main office is at 1731 Poly Drive, Billings, MT 59102. Its phone number is 406-325-1500. Its website is capstoneretire.com.