Colorado Capital Management provides financial planning, portfolio management for individuals and small businesses, selecting other managers, publishing newsletters, education planning, estate planning, insurance, philanthropic planning, retirement plan services, and tax planning. Financial planning was provided to 26–50 clients last fiscal year.
Colorado Capital Management reports 241 clients. They include 157 high-net-worth individuals, 77 individual clients and 7 charitable organizations. Of its assets, 89.3% ($570M across 891 accounts) are managed with discretion; $68.4M across 123 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 32% | 8% |
| High-net-worth individuals | 65% | 89% |
| Charitable organizations | 3% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 77 | $52.6M | 8.2% | $682K |
| High-net-worth individuals | 157 | $565M | 88.5% | $3.6M |
| Charitable organizations | 7 | $20.7M | 3.2% | $2.96M |
| Total | 241 | $638M | 100% | $2.65M |
- Clients
- 77
- Regulatory AUM
- $52.6M
- AUM share
- 8.2%
- Avg. per client
- $682K
- Clients
- 157
- Regulatory AUM
- $565M
- AUM share
- 88.5%
- Avg. per client
- $3.6M
- Clients
- 7
- Regulatory AUM
- $20.7M
- AUM share
- 3.2%
- Avg. per client
- $2.96M
Total
- Clients
- 241
- Regulatory AUM
- $638M
- AUM share
- 100%
- Avg. per client
- $2.65M
- 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
- 26–50
Colorado Capital Management charges 0.35%–1.00% a year for its Portfolio management services. The fee is billed in advance or in arrears and is negotiable. The brochure also prices 3 other services, listed under fee details.
Fee details and sources
Other fees
- Consulting
- Consulting fees range from $2,500 to $20,000 for a limited scope of work and are negotiated with the client.
- Financial planning
- Fixed fees for individual financial plans range from $2,500 to $5,000, negotiable; a terminated plan bills earned fees at $250 an hour.
- Retirement plan advisory
- Retirement plan advisory fees are negotiated annually; asset-based fees for plan sponsors range from 0.1% to 0.5% of plan assets.
Steven Ellis owns 50% to 75% of Colorado Capital Management. The leadership team of Colorado Capital Management includes President Steven Ellis and Chief Compliance Officer Lee Strongwater. It has 10 employees.
Staff
- 10 employees
- 10 in advisory functions
- 10 state-registered reps
- Owns 50% to 75% of Colorado Capital Management, Inc.
Steven Ellis
Control person · since February 2000
- Owns 25% to 50% of Colorado Capital Management, Inc.
Lee Strongwater
Control person · since March 2010
- Owns 10% to 25% of Colorado Capital Management, Inc.
Jason Black
since January 2022
Colorado Capital Management’s regulatory assets grew from $446M (April 2021) to $638M (February 2026); clients rose from 203 to 241 and employees from 8 to 10.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Feb 2026February 2026 | $638M | 241 | 10 | 1 |
| Jul 2025July 2025 | $560M | 225 | 9 | 1 |
| Feb 2024February 2024 | $500M | 220 | 10 | 1 |
| Apr 2023April 2023 | $440M | 218 | 9 | 1 |
| Jul 2022July 2022 | $488M | 203 | 10 | 1 |
| Apr 2021April 2021 | $446M | 203 | 8 | 1 |
Besides its headquarters, Colorado Capital Management has 0 offices, with 1 listed address in 1 state.
Colorado · 1 listed address
- 4430 Arapahoe Avenue, Suite 120, BoulderHQ
Contact and registration details
- Legal name
- Colorado Capital Management, Inc.
- Headquarters
- 4430 Arapahoe Avenue, Suite 120, Boulder, CO 80303-1100
- Website
- coloradocap.com
- Phone
- 303-444-9300
- @colorado-capital-management
- SEC file
- 801-60868
- Structure
- Colorado corporation
- Fiscal year end
- December
Colorado Capital Management’s named custodian for separately managed accounts is Charles Schwab ($612M). Colorado Capital Management has custody of $84.4M for 24 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $612M100%
At year end, Colorado Capital Management’s separately managed accounts were mostly in funds (66%) and bonds (17%). Its reported 13F holdings for the quarter ended 30 June 2026 total $293K across 101 positions; the largest are Dbx ETF TR (7.1%), Dimensional ETF Trust (6.0%) and Vanguard World FD (5.8%).
What the accounts hold
- Stocks7%
- Funds66%
- Bonds17%
- State and local bonds11%
- Investment grade corporate bonds5%
- U.S. government and agency bonds1%
- Cash5%
- Other5%
- Reits, private placements, va's, cd's5%
How many clients does Colorado Capital Management have?
Colorado Capital Management has 241 clients and manages $638 million for them, as of February 2026. They include 157 high-net-worth individuals, 77 individual clients and 7 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 17 February 2026
What services does Colorado Capital Management offer?
Colorado Capital Management provides financial planning, portfolio management for individuals and small businesses, selecting other managers, publishing newsletters, education planning, estate planning, insurance, philanthropic planning, retirement plan services, 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 Colorado Capital Management charge?
Colorado Capital Management charges 0.35%–1.00% a year for its Portfolio management services. The fee is billed in advance or in arrears and is negotiable.
Which custodians does Colorado Capital Management use?
Colorado Capital Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $612M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 17 February 2026
How many financial advisors does Colorado Capital Management have?
Colorado Capital Management has 10 investment adviser representatives registered with state securities authorities, out of 10 employees, and 10 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 Colorado Capital Management invest in?
At the end of its last fiscal year, Colorado Capital Management’s separately managed accounts held 66% registered funds (mutual funds, ETFs, BDCs), 11% state and local bonds, 7% exchange-traded equities, 5% investment grade corporate bonds, 5% cash and equivalents, 5% other and 1% U.S. government and agency bonds. The 5% other category is described as: Reits, Private Placements, Va'S, CD'S.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Colorado Capital Management?
Colorado Capital Management’s direct owners are Steven Ellis (50% to 75%), Lee Strongwater (25% to 50%) and Jason Black (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 17 February 2026
How does Colorado Capital Management get paid?
Colorado Capital Management is paid through a percentage of assets under management and hourly charges. 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 Colorado Capital Management?
Colorado Capital Management’s main office is at 4430 Arapahoe Avenue, Suite 120, Boulder, CO 80303-1100. Its phone number is 303-444-9300. Its website is coloradocap.com.