{"url":"https://nivawealth.com/firms/gunpowder-capital-management-314867","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/314867","regulatoryAum":340420749,"crd":"314867","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"8230962","suffix":null,"lastName":"Boudreau","firstName":"George","middleName":"Mitchell"},{"crd":"7343850","suffix":null,"lastName":"KNACHEL","firstName":"ANDREW","middleName":null},{"crd":"7192012","suffix":null,"lastName":"McDuffee","firstName":"Nathan","middleName":"Thomas"},{"crd":"3251099","suffix":null,"lastName":"OLIVER","firstName":"BRANDON","middleName":"CHRISTOPHER"},{"crd":"6826151","suffix":"Jr","lastName":"Plume","firstName":"Joseph","middleName":"Michael"}],"total":5,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2021-05-19","regulatoryAum":0,"clients":0,"employees":4,"offices":1},{"filedOn":"2022-04-01","regulatoryAum":292390829,"clients":548,"employees":5,"offices":3},{"filedOn":"2023-05-03","regulatoryAum":248115881,"clients":906,"employees":6,"offices":3},{"filedOn":"2024-05-14","regulatoryAum":290000000,"clients":657,"employees":5,"offices":3},{"filedOn":"2025-03-25","regulatoryAum":297623713,"clients":578,"employees":5,"offices":3},{"filedOn":"2026-03-30","regulatoryAum":340420749,"clients":496,"employees":6,"offices":3}],"secFileNumber":"801-121543","legalName":"Gunpowder Capital Management, LLC","displayName":"Gunpowder Capital Management","slug":"gunpowder-capital-management-314867","website":"https://oliverwealth.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"xUrl":"https://twitter.com/wealth_oliver","founded":null,"organization":"Maryland limited liability company","fiscalYearEnd":"December","headquarters":{"street":"901 Dulaney Valley Road, Suite 701","city":"Towson","state":"MD","stateName":"Maryland","country":"United States","postalCode":"21204"},"tradeNames":[],"registration":{"secApproved":"21 June 2021","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":691436.9731404958,"staff":{"employees":6,"advisory":4,"brokerDealerReps":0,"insuranceAgents":1,"promoters":1},"aum":{"regulatory":340420749,"discretionary":340420749,"discretionaryAccounts":1390,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":7},"clientTypes":[{"label":"Individuals (other than HNW)","clients":401,"regulatoryAum":103642933},{"label":"High-net-worth individuals","clients":83,"regulatoryAum":231012562},{"label":"Pension and profit-sharing plans","clients":10,"regulatoryAum":4309818},{"label":"Charitable organizations","clients":1,"fewerThan5":true,"regulatoryAum":1212517},{"label":"Corporations and other businesses","clients":1,"fewerThan5":true,"regulatoryAum":242919}],"feePrograms":[{"role":"main","program":"Managed Account Program","feeBasis":"ceiling","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032593","versionId":1032593,"ratePeriod":"annual","fee_billing":"advance","submittedOn":"2026-03-30","documentName":"OWM DISCLOSURE BROCHURE (ADV PART 2A)","fee_rate_low":null,"fee_rate_high":2.5,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Financial Planning Services","summary":"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.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032593","versionId":1032593,"submittedOn":"2026-03-30","documentName":"OWM DISCLOSURE BROCHURE (ADV PART 2A)"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T11:01:45.126548+00:00","documents":[{"name":"OWM DISCLOSURE BROCHURE (ADV PART 2A)","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032593","versionId":1032593,"submittedOn":"2026-03-30"}]},"custodians":[{"name":"Raymond James Financial Services, Inc.","shortName":"Raymond James","location":"St. Petersburg, FL","smaAssets":5340325}],"custodyNote":"Gunpowder Capital Management does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Nathan McDuffee","title":"Chief Compliance Officer","crd":"7192012"},{"name":"Brandon Oliver","title":"Managing Director","crd":"3251099"}],"ownership":[{"label":"Brandon Oliver","detail":"Managing director in the 75% or more ownership band and a control person, since May 2021."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":2,"privateResidences":0},"listedOfficeAddresses":3,"foreignOffices":[],"officesByState":[{"state":"Florida","offices":1,"addresses":[{"street":"433 Plaza Real","city":"Boca Raton"}]},{"state":"Maryland","offices":1,"addresses":[{"street":"901 Dulaney Valley Road, Suite 701","city":"Towson","headquarters":true}]},{"state":"Missouri","offices":1,"addresses":[{"street":"10805 Sunset Office Drive","city":"St. Louis"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"410-343-7125","stateRegisteredReps":4,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Hourly charges","Fixed fees (other than subscription fees)"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"51-100","assetMix":[{"label":"Exchange-traded equity securities","percent":14},{"label":"Non-exchange-traded equity securities","percent":1},{"label":"U.S. government/agency bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":78},{"label":"Cash and cash equivalents","percent":4},{"label":"Other","percent":2,"detail":"Alternative Investments, Annuities"}],"privateFunds":0},"sources":{"adv1FilingDate":"30 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/314867/PDF/314867.pdf","brochureDate":"30 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032593","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Gunpowder Capital Management have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Gunpowder Capital Management offer?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Gunpowder Capital Management charge?","answer":"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","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Gunpowder Capital Management use?","answer":"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","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Gunpowder Capital Management have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Gunpowder Capital Management invest in?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Gunpowder Capital Management?","answer":"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","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Gunpowder Capital Management get paid?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Gunpowder Capital Management?","answer":"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.","source":"Form ADV Part 1A, Item 1.F, filed 30 March 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}