Gunpowder Capital Management provides financial planning, portfolio management for individuals and small businesses, and selecting other managers. Financial planning was provided to 51–100 clients last fiscal year.
Gunpowder Capital Management reports 496 clients. They include 401 individual clients, 83 high-net-worth individuals, and 10 pension and profit-sharing plans. Of its assets, 100.0% ($340M across 1,390 accounts) are managed with discretion. It advised 7 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 81% | 30% |
| High-net-worth individuals | 17% | 68% |
| Pension and profit-sharing plans | 2% | 1% |
| Charitable organizations | <1% | <1% |
| Corporations and other businesses | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 401 | $104M | 30.4% | $258K |
| High-net-worth individuals | 83 | $231M | 67.9% | $2.78M |
| Pension and profit-sharing plans | 10 | $4.31M | 1.3% | $431K |
| Charitable organizations | Fewer than 5 | $1.21M | 0.4% | $1.21M |
| Corporations and other businesses | Fewer than 5 | $243K | 0.1% | $243K |
| Total | 496 | $340M | 100% | — |
- Clients
- 401
- Regulatory AUM
- $104M
- AUM share
- 30.4%
- Avg. per client
- $258K
- Clients
- 83
- Regulatory AUM
- $231M
- AUM share
- 67.9%
- Avg. per client
- $2.78M
- Clients
- 10
- Regulatory AUM
- $4.31M
- AUM share
- 1.3%
- Avg. per client
- $431K
- Clients
- Fewer than 5
- Regulatory AUM
- $1.21M
- AUM share
- 0.4%
- Avg. per client
- $1.21M
- Clients
- Fewer than 5
- Regulatory AUM
- $243K
- AUM share
- 0.1%
- Avg. per client
- $243K
Total
- Clients
- 496
- Regulatory AUM
- $340M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 7
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 51–100
Gunpowder Capital Management charges up to 2.50% a year for its Managed Account Program. 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 Services
- Up to $300 an hour, to a maximum of $20,000 a year, or a fixed fee based on anticipated hours at $300 an hour; negotiable.
Brandon Oliver owns 75% or more of Gunpowder Capital Management. The leadership team of Gunpowder Capital Management includes Chief Compliance Officer Nathan McDuffee. It has 6 employees, 4 of them in advisory roles.
Staff
- 6 employees
- 4 in advisory functions
- 4 state-registered reps
- 1 insurance agent
- 1 soliciting firm
- Owns 75% or more of Gunpowder Capital Management, LLC
Brandon Oliver
Control person · since May 2021
Gunpowder Capital Management’s regulatory assets grew Infinity× from $0 (May 2021) to $340M (March 2026); employees rose from 4 to 6.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $340M | 496 | 6 | 3 |
| Mar 2025March 2025 | $298M | 578 | 5 | 3 |
| May 2024May 2024 | $290M | 657 | 5 | 3 |
| May 2023May 2023 | $248M | 906 | 6 | 3 |
| Apr 2022April 2022 | $292M | 548 | 5 | 3 |
| May 2021May 2021 | $0 | 0 | 4 | 1 |
Besides its headquarters, Gunpowder Capital Management has 2 offices, with 3 listed addresses across 3 states.
Florida · 1 listed address
- 433 Plaza Real, Boca Raton
Maryland · 1 listed address
- 901 Dulaney Valley Road, Suite 701, TowsonHQ
Missouri · 1 listed address
- 10805 Sunset Office Drive, St. Louis
Contact and registration details
- Legal name
- Gunpowder Capital Management, LLC
- Headquarters
- 901 Dulaney Valley Road, Suite 701, Towson, MD 21204
- Website
- oliverwealth.com
- Phone
- 410-343-7125
- SEC file
- 801-121543
- Structure
- Maryland LLC
- Fiscal year end
- December
Gunpowder Capital Management’s named custodian for separately managed accounts is Raymond James ($5.34M). Gunpowder Capital Management does not have custody of client assets.
- Raymond JamesRaymond James Financial Services, Inc. · St. Petersburg, FL · $5.34M100%
At year end, Gunpowder Capital Management’s separately managed accounts were mostly in funds (78%) and stocks (15%).
What the accounts hold
- Stocks15%
- Exchange-traded equities14%
- Non-exchange-traded equities1%
- Funds78%
- Bonds1%
- Cash4%
- Other2%
- Alternative investments, annuities2%
How many clients does Gunpowder Capital Management have?
Gunpowder Capital Management has 496 clients and manages $340 million for them, as of March 2026. They include 401 individual clients, 83 high-net-worth individuals, and 10 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026
What services does Gunpowder Capital Management offer?
Gunpowder Capital Management provides financial planning, portfolio management for individuals and small businesses, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Gunpowder Capital Management charge?
Gunpowder Capital Management charges up to 2.50% a year for its Managed Account Program. The fee is billed in advance and is negotiable.
Source: OWM DISCLOSURE BROCHURE (ADV PART 2A), filed 30 March 2026
Which custodians does Gunpowder Capital Management use?
Gunpowder Capital Management’s separately managed account assets are held at Raymond James Financial Services, Inc. (St. Petersburg, FL), with $5.34M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026
How many financial advisors does Gunpowder Capital Management have?
Gunpowder Capital Management has 4 investment adviser representatives registered with state securities authorities, out of 6 employees, and 4 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 1 employee is a licensed insurance agent.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Gunpowder Capital Management invest in?
At the end of its last fiscal year, Gunpowder Capital Management’s separately managed accounts held 78% registered funds (mutual funds, ETFs, BDCs), 14% exchange-traded equities, 4% cash and equivalents, 2% other, 1% non-exchange-traded equities and 1% U.S. government and agency bonds. The 2% other category is described as: Alternative Investments, Annuities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Gunpowder Capital Management?
Gunpowder Capital Management’s direct owner is Brandon Oliver (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026
How does Gunpowder Capital Management get paid?
Gunpowder Capital 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 Gunpowder Capital Management?
Gunpowder Capital Management’s main office is at 901 Dulaney Valley Road, Suite 701, Towson, MD 21204. Its phone number is 410-343-7125. Its website is oliverwealth.com.