Northern Capital Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, publishing newsletters, educational seminars, education planning, estate planning, insurance, philanthropic planning, and tax planning. Financial planning was provided to 251–500 clients last fiscal year.
Northern Capital Management reports 739 clients. They include 558 individual clients, 148 high-net-worth individuals, and 21 pension and profit-sharing plans. Of its assets, 99.8% ($916M across 1,863 accounts) are managed with discretion; $1.82M across 3 accounts are not. It advised 8 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 76% | 16% |
| High-net-worth individuals | 20% | 44% |
| Pension and profit-sharing plans | 3% | 38% |
| Charitable organizations | Fewer than 5 | <1% |
| Corporations and other businesses | 2% | 1% |
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) | 558 | $147M | 16.1% | $264K |
| High-net-worth individuals | 148 | $408M | 44.4% | $2.76M |
| Pension and profit-sharing plans | 21 | $349M | 38.0% | $16.6M |
| Charitable organizations | Fewer than 5 | $2.89M | 0.3% | — |
| Corporations and other businesses | 12 | $11.4M | 1.2% | $947K |
| Total | 739 | $918M | 100% | — |
- Clients
- 558
- Regulatory AUM
- $147M
- AUM share
- 16.1%
- Avg. per client
- $264K
- Clients
- 148
- Regulatory AUM
- $408M
- AUM share
- 44.4%
- Avg. per client
- $2.76M
- Clients
- 21
- Regulatory AUM
- $349M
- AUM share
- 38.0%
- Avg. per client
- $16.6M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.89M
- AUM share
- 0.3%
- Avg. per client
- —
- Clients
- 12
- Regulatory AUM
- $11.4M
- AUM share
- 1.2%
- Avg. per client
- $947K
Total
- Clients
- 739
- Regulatory AUM
- $918M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 8
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Northern Capital Management charges 0.75%–1.00% a year for its Individual Clients Standard Fee Schedule. The fee is billed in arrears and is negotiable. The brochure also prices 3 other services, listed under fee details.
Fee details and sources
Other fees
- Financial Planning Fixed Fee
- Financial planning is a fixed fee based on scope, with a stated range of $1,500 to $3,000; updates of an existing plan are $750 to $1,500.
- Retirement Plan Fee Schedule
- Plan clients (401(k), 403(b), defined benefit, profit sharing, 457): annual rate tiered with no minimum, 0.50% on the first $1,000,000, 0.35% to $10,000,000, 0.20% to $50,000,000, 0.15% thereafter.
- WSMA Membership Fee Schedule
- For new clients after November 6, 2024 with a Washington State Medical Association membership: 0.9% annually on assets up to $3,000,000 and 0.675% thereafter.
James Wilson owns 75% or more of Northern Capital Management. Michelle Warner is CEO; the leadership team includes President James Wilson and Chief Compliance Officer Laurie Silva. It has 11 employees, 8 of them in advisory roles.
Staff
- 11 employees
- 8 in advisory functions
- 10 state-registered reps
- 1 soliciting firm
- Owns 75% or more of Northern Capital Management, Inc.
James Wilson
Control person · since February 1992
- Owns 10% to 25% of Northern Capital Management, Inc.
Michelle Warner
Control person · since August 2020
Northern Capital Management’s regulatory assets grew 2.7× from $342M (March 2021) to $918M (September 2026); clients rose from 681 to 739 and employees from 9 to 11.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Sep 2026September 2026 | $918M | 739 | 11 | 2 |
| Jul 2025July 2025 | $462M | 714 | 11 | 2 |
| Mar 2024March 2024 | $391M | 696 | 11 | 2 |
| Mar 2023March 2023 | $340M | 688 | 11 | 2 |
| Mar 2022March 2022 | $388M | 691 | 10 | 2 |
| Mar 2021March 2021 | $342M | 681 | 9 | 1 |
Besides its headquarters, Northern Capital Management has 1 office, with 2 listed addresses across 2 states.
Idaho · 1 listed address
- 1810 Schneidmiller Ave., Post Falls
Washington · 1 listed address
- 2700 South Southeast Boulevard, Suite 205, SpokaneHQ
Contact and registration details
- Legal name
- Northern Capital Management, Inc.
- Headquarters
- 2700 South Southeast Boulevard, Suite 205, Spokane, WA 99223-4984
- Website
- northernwelcome.com
- Phone
- 509-456-2526
- SEC file
- 801-44942
- Founded
- 1992
- Structure
- Washington corporation
- Fiscal year end
- December
Northern Capital Management’s named custodian for separately managed accounts is Charles Schwab ($902M). Northern Capital Management has custody of $175M for 258 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $902M100%
At year end, Northern Capital Management’s separately managed accounts were mostly in funds (86%) and bonds (10%). Its reported 13F holdings for the quarter ended 30 June 2026 total $235M across 55 positions; the largest are Schwab U.S. Large-cap Growth ETF (25.7%), Schwab US Large-cap Value ETF (21.0%) and Invesco Qqq Trust (17.9%).
What the accounts hold
- Stocks2%
- Funds86%
- Bonds10%
- Cash1%
- Other1%
- Annuity contracts, cds1%
How many clients does Northern Capital Management have?
Northern Capital Management has 739 clients and manages $918 million for them, as of September 2026. They include 558 individual clients, 148 high-net-worth individuals, and 21 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 September 2026
What services does Northern Capital Management offer?
Northern Capital Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, publishing newsletters, educational seminars, education planning, estate planning, insurance, philanthropic planning, 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 Northern Capital Management charge?
Northern Capital Management charges 0.75%–1.00% a year for its Individual Clients Standard Fee Schedule. The fee is billed in arrears and is negotiable.
Source: 2026-09-30 NCM (ADV PART 2A BROCHURE), filed 30 September 2026
Which custodians does Northern Capital Management use?
Northern Capital Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $902M. 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 September 2026
How many financial advisors does Northern Capital Management have?
Northern Capital Management has 10 investment adviser representatives registered with state securities authorities, out of 11 employees, and 8 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 Northern Capital Management invest in?
At the end of its last fiscal year, Northern Capital Management’s separately managed accounts held 86% registered funds (mutual funds, ETFs, BDCs), 10% U.S. government and agency bonds, 2% exchange-traded equities, 1% cash and equivalents and 1% other. The 1% other category is described as: Annuity Contracts, CDS.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Northern Capital Management?
Northern Capital Management’s direct owners are James Wilson (75% or more) and Michelle Warner (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 30 September 2026
How does Northern Capital Management get paid?
Northern Capital Management is paid through a percentage of assets under management, fixed fees and other compensation. 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 Northern Capital Management?
Northern Capital Management’s main office is at 2700 South Southeast Boulevard, Suite 205, Spokane, WA 99223-4984. Its phone number is 509-456-2526. Its website is northernwelcome.com.
