Telos Capital Management provides financial planning, portfolio management for individuals and small businesses, and estate planning. Financial planning was provided to 26–50 clients last fiscal year.
Telos Capital Management reports 956 clients. They include 468 individual clients, 456 high-net-worth individuals, and 15 corporations and other businesses. Of its assets, 100.0% ($1.63B across 2,471 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 49% | 13% |
| High-net-worth individuals | 48% | 84% |
| Pension and profit-sharing plans | <1% | <1% |
| Charitable organizations | <1% | 2% |
| Corporations and other businesses | 2% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 468 | $204M | 12.5% | $436K |
| High-net-worth individuals | 456 | $1.37B | 84.2% | $3M |
| Pension and profit-sharing plans | 8 | $10.7M | 0.7% | $1.34M |
| Charitable organizations | 9 | $32M | 2.0% | $3.55M |
| Corporations and other businesses | 15 | $11M | 0.7% | $732K |
| Total | 956 | $1.63B | 100% | $1.7M |
- Clients
- 468
- Regulatory AUM
- $204M
- AUM share
- 12.5%
- Avg. per client
- $436K
- Clients
- 456
- Regulatory AUM
- $1.37B
- AUM share
- 84.2%
- Avg. per client
- $3M
- Clients
- 8
- Regulatory AUM
- $10.7M
- AUM share
- 0.7%
- Avg. per client
- $1.34M
- Clients
- 9
- Regulatory AUM
- $32M
- AUM share
- 2.0%
- Avg. per client
- $3.55M
- Clients
- 15
- Regulatory AUM
- $11M
- AUM share
- 0.7%
- Avg. per client
- $732K
Total
- Clients
- 956
- Regulatory AUM
- $1.63B
- AUM share
- 100%
- Avg. per client
- $1.7M
- 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
Telos Capital Management charges 1.00% a year for its TCM Managed Portfolios. The whole portfolio is charged at the rate of its band. The fee is billed in advance and is negotiable. The brochure also prices 3 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0 and above | 1.00% |
Fee details and sources
Other fees
- Estate Planning Services
- A flat fee of $1,250 for an estate plan, negotiable and due on completion of the engagement.
- Hourly Financial Planning
- For clients who do not also use investment management, $300 an hour with a five-hour minimum ($1,500); negotiable and due on completion.
- TCM McCuen Portfolios
- Legacy schedule for former McCuen & Co. Inc. clients: 0.25% to 0.75% of the entire portfolio value a year, paid quarterly.
Stefan Meierhofer owns 50% to 75% of Telos Capital Management. The leadership team of Telos Capital Management includes President Stefan Meierhofer, Chief Investment Officer Andrew Weld and Chief Compliance Officer Kureyn Watson. It has 19 employees, 7 of them in advisory roles.
Leadership
- Stefan MeierhoferDirector/President/CEO
- Kureyn WatsonChief Compliance Officer
- Jonathan FairchildDirector, Trustee of the Fairchild Family Trust U/A/D 4/6/14
- Andrew WeldDirector/Chief Investment Officer
Investment adviser representatives
12 representatives listed in the SEC register as of 9 October 2026.
- Warren Elliot Binstock
- Jeremy Elliott Chaffin
- Charles Frederick Chamberlin
- Timothy Thomas Drake
- Jonathan Paul Fairchild
- Aaron Michael Kaplan
- Stefan Meierhofer
- Jamie Lynn Noriega
- Bruce David Sherman
- Andrew Winslow Weld MR
- Michael Ray Whitehurst
- Randall Lynn Whitfield
Staff
- 19 employees
- 7 in advisory functions
- 13 state-registered reps
- 1 soliciting firm
- Owns 50% to 75% of Telos Capital Management, Inc.
Stefan Meierhofer
Control person · since January 2009
- Owns 10% to 25% of Telos Capital Management, Inc.
Fairchild Family Trust U/A/D 4/6/14
since March 2014
- Owns 10% to 25% of Telos Capital Management, Inc.
Fairchild Family Trust U/A/D
since March 2014
- Owns 10% to 25% of Telos Capital Management, Inc.
Jonathan Fairchild
Control person · since March 2014
- Owns 10% to 25% of Telos Capital Management, Inc.
Andrew Weld
Control person · since January 2019
Telos Capital Management’s regulatory assets grew 1.6× from $1.02B (June 2021) to $1.63B (May 2026); clients rose from 743 to 956 and employees from 15 to 19.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| May 2026 | $1.63B | 956 | 19 | 3 |
| March 2025 | $1.42B | 913 | 19 | 3 |
| March 2024 | $1.25B | 851 | 20 | 3 |
| May 2023 | $1.1B | 809 | 17 | 3 |
| April 2022 | $1.2B | 771 | 15 | 3 |
| June 2021 | $1.02B | 743 | 15 | 3 |
Besides its headquarters, Telos Capital Management has 2 offices (1 private residence, listed without an address), with 2 listed addresses in California.
California · 2 listed addresses
- 13480 Evening Creek Drive North, Suite 250, San DiegoHQ
- 121 N Fir Street, Ventura
Contact and registration details
- Legal name
- Telos Capital Management, Inc.
- Headquarters
- 13480 Evening Creek Drive North, Suite 250, San Diego, CA 92128-4310
- Website
- telosinc.com
- Phone
- 858-271-6350
- @telos-capital-management-inc.
- SEC file
- 801-69837
- Founded
- 2003
- Structure
- California corporation
- Fiscal year end
- December
Telos Capital Management uses Charles Schwab ($1.62B) as custodian for its separately managed accounts. Telos Capital Management has custody of $1.09B in client assets for 640 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $1.62B100%
At year end, Telos Capital Management’s separately managed accounts were mostly in stocks (68%) and bonds (27%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.13B across 201 positions; the largest are Apple Inc. (5.7%), Vanguard Index Fds (3.6%) and Qualcomm Inc. (2.8%).
What the accounts hold
- Stocks68%
- Funds1%
- Bonds27%
- Investment grade corporate bonds22%
- State and local bonds4%
- U.S. government and agency bonds1%
- Cash3%
- Other1%
- Non-exchange-traded preferred securities1%
Reported 13F holdings
- $1.13B
- Reported 13F value
- 201
- Positions
- 28.2%
- In the 10 largest
- +8.7%
- Value vs. prior quarter
- Apple Inc.5.7%
- Vanguard Index Fds · Total Stk Mkt3.6%
- Qualcomm Inc.2.8%
- Alphabet Inc. · Cap Stk CL A2.7%
- Vanguard Intl Equity Index F · Allwrld EX US2.7%
- Palo Alto Networks Inc.2.6%
- Morgan Stanley2.3%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt2.0%
- Home Depot Inc.2.0%
- Amazon Com Inc.1.9%
Together, the ten largest are 28.2% of reported value.
How many clients does Telos Capital Management have?
Telos Capital Management has 956 clients and manages $1.63 billion for them, as of May 2026. They include 468 individual clients, 456 high-net-worth individuals, and 15 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 1 May 2026
What services does Telos Capital Management offer?
Telos Capital Management provides financial planning, portfolio management for individuals and small businesses, and estate 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 Telos Capital Management charge?
Telos Capital Management charges 1.00% a year for its TCM Managed Portfolios. The whole portfolio is charged at the rate of its band. The fee is billed in advance and is negotiable.
Source: TELOS CAPITAL MANAGEMENT, INC. FORM ADV PART 2A, filed 31 March 2026
Which custodians does Telos Capital Management use?
Telos Capital Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $1.62B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 1 May 2026
How many financial advisors does Telos Capital Management have?
Telos Capital Management has 13 investment adviser representatives registered with state securities authorities, out of 19 employees, and 7 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 Telos Capital Management invest in?
At the end of its last fiscal year, Telos Capital Management’s separately managed accounts held 68% exchange-traded equities, 22% investment grade corporate bonds, 4% state and local bonds, 3% cash and equivalents, 1% U.S. government and agency bonds, 1% registered funds (mutual funds, ETFs, BDCs) and 1% other. The 1% other category is described as: Non-Exchange-Traded Preferred Securities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Telos Capital Management?
Telos Capital Management’s direct owners are Stefan Meierhofer (50% to 75%), Fairchild Family Trust U/A/D 4/6/14 (10% to 25%), Fairchild Family Trust U/A/D (10% to 25%), Jonathan Fairchild (10% to 25%) and Andrew Weld (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 1 May 2026
How does Telos Capital Management get paid?
Telos Capital Management is paid through a percentage of assets under management, hourly charges 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
Is Telos Capital Management registered with the SEC?
Yes, Telos Capital Management has been registered with the SEC as an investment adviser since 7 January 2009. Its CRD number is 149108 and its SEC file number is 801-69837.
Source: Form ADV Part 1A, Item 1, filed 1 May 2026; IAPD firm record
How do I contact Telos Capital Management?
Telos Capital Management’s main office is at 13480 Evening Creek Drive North, Suite 250, San Diego, CA 92128-4310. Its phone number is 858-271-6350. Its website is telosinc.com.