Liberty Capital Management provides portfolio management for individuals and small businesses, portfolio management for institutions, financial planning, and retirement plan services.
Liberty Capital Management reports 160 clients. They include 126 high-net-worth individuals and 34 individual clients. Of its assets, 90.2% ($766M across 403 accounts) are managed with discretion; $83.5M across 27 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 21% | 2% |
| High-net-worth individuals | 79% | 90% |
| Banking or thrift institutions | Fewer than 5 | 2% |
| Charitable organizations | Fewer than 5 | 2% |
| Other investment advisers | Fewer than 5 | 1% |
| Other client typesCorporations and other businesses | Not reported | 4% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 34 | $18.4M | 2.2% | $540K |
| High-net-worth individuals | 126 | $763M | 89.8% | $6.05M |
| Banking or thrift institutions | Fewer than 5 | $13.4M | 1.6% | — |
| Charitable organizations | Fewer than 5 | $13.1M | 1.5% | — |
| Other investment advisers | Fewer than 5 | $9.59M | 1.1% | — |
| Corporations and other businesses | Fewer than 5 | $32.3M | 3.8% | — |
| Total | 160 | $849M | 100% | — |
- Clients
- 34
- Regulatory AUM
- $18.4M
- AUM share
- 2.2%
- Avg. per client
- $540K
- Clients
- 126
- Regulatory AUM
- $763M
- AUM share
- 89.8%
- Avg. per client
- $6.05M
- Clients
- Fewer than 5
- Regulatory AUM
- $13.4M
- AUM share
- 1.6%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $13.1M
- AUM share
- 1.5%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $9.59M
- AUM share
- 1.1%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $32.3M
- AUM share
- 3.8%
- Avg. per client
- —
Total
- Clients
- 160
- Regulatory AUM
- $849M
- 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
- 0
Liberty Capital Management is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees). The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Financial planning
- Financial planning fees are negotiated in advance and can be fixed or hourly; no amount is stated.
- Non-management advisory services
- Non-management advisory services are negotiated in advance and can be fixed or hourly, depending on the complexity of the engagement.
Kenneth Carbaugh owns 75% or more of Liberty Capital Management. It has 4 employees, 3 of them in advisory roles.
Leadership
- Kenneth CarbaughCEO/CCO
Investment adviser representatives
4 representatives listed in the SEC register as of 9 October 2026.
Staff
- 4 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 75% or more of Liberty Capital Management Inc
Kenneth Carbaugh
Control person · since January 2017
Liberty Capital Management’s regulatory assets grew 1.9× from $450M (February 2021) to $849M (February 2026); clients rose from 119 to 160 and employees from 3 to 4.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $849M | 160 | 4 | 1 |
| March 2025 | $752M | 142 | 4 | 1 |
| February 2024 | $605M | 139 | 4 | 1 |
| March 2023 | $467M | 118 | 3 | 1 |
| February 2022 | $518M | 119 | 3 | 1 |
| February 2021 | $450M | 119 | 3 | 1 |
Besides its headquarters, Liberty Capital Management has 0 offices, with 1 listed address in Michigan.
Michigan · 1 listed address
- 401 S Old Woodward Avenue, Ste 430, BirminghamHQ
Contact and registration details
- Legal name
- Liberty Capital Management Inc
- Headquarters
- 401 S Old Woodward Avenue, Ste 430, Birmingham, MI 48009
- Website
- libertycapitalmi.com
- Phone
- 248-258-9290
- SEC file
- 801-42852
- Founded
- 1993
- Structure
- Michigan corporation
- Fiscal year end
- December
Liberty Capital Management uses Charles Schwab ($793M, 94%), Comerica Bank ($25.1M, 3%) and UBS Financial Services ($23.6M, 3%) as custodians for its separately managed accounts. Liberty Capital Management has custody of $268M in client assets for 59 clients.
- Comerica BankComerica Bank · Detroit, MI · $25.1M3%
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $793M94%
- UBS Financial ServicesUBS Financial Services · Birmingham, MI · $23.6M3%
At year end, Liberty Capital Management’s separately managed accounts were mostly in stocks (64%) and bonds (16%). Its reported 13F holdings for the quarter ended 30 June 2026 total $582M across 184 positions; the largest are Vanguard Index Fds (7.9%), Apple Inc. (4.3%) and Nvidia Corporation (3.7%).
What the accounts hold
- Stocks64%
- Funds14%
- Bonds16%
- State and local bonds12%
- U.S. government and agency bonds2%
- Investment grade corporate bonds2%
- Cash6%
Reported 13F holdings
- $582M
- Reported 13F value
- 184
- Positions
- 33.6%
- In the 10 largest
- —
- Value vs. prior quarter
- Vanguard Index Fds · Total Stk Mkt7.9%
- Apple Inc.4.3%
- Nvidia Corporation3.7%
- Alphabet Inc. · Cap Stk CL A3.7%
- Schwab Strategic TR · US Brd Mkt ETF3.0%
- Amazon Com Inc.2.7%
- Costco Wholesale Corporation2.5%
- Visa Inc. · Com CL A2.0%
- Applied Indl Technologies IN2.0%
- Fortinet Inc.1.8%
Together, the ten largest are 33.6% of reported value.
How many clients does Liberty Capital Management have?
Liberty Capital Management has 160 clients and manages $849 million for them, as of February 2026. They include 126 high-net-worth individuals and 34 individual clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 10 February 2026
What services does Liberty Capital Management offer?
Liberty Capital Management provides portfolio management for individuals and small businesses, portfolio management for institutions, financial planning, 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
Which custodians does Liberty Capital Management use?
Liberty Capital Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $793M, Comerica Bank (Detroit, MI), with $25.1M and UBS Financial Services (Birmingham, MI), with $23.6M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 10 February 2026
How many financial advisors does Liberty Capital Management have?
Liberty Capital Management has 3 investment adviser representatives registered with state securities authorities, out of 4 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 Liberty Capital Management invest in?
At the end of its last fiscal year, Liberty Capital Management’s separately managed accounts held 64% exchange-traded equities, 14% registered funds (mutual funds, ETFs, BDCs), 12% state and local bonds, 6% cash and equivalents, 2% 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
Who owns Liberty Capital Management?
Liberty Capital Management’s direct owner is Kenneth Carbaugh (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 10 February 2026
How does Liberty Capital Management get paid?
Liberty 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 Liberty Capital Management?
Liberty Capital Management’s main office is at 401 S Old Woodward Avenue, Ste 430, Birmingham, MI 48009. Its phone number is 248-258-9290. Its website is libertycapitalmi.com.