XPS Capital provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and pension consulting. Financial planning was provided to 26–50 clients last fiscal year. The firm advises 5 private funds.
XPS Capital reports 164 clients. They include 71 individual clients, 68 high-net-worth individuals, and 20 corporations and other businesses. Of its assets, 100.0% ($151M across 252 accounts) are managed with discretion. It advised 21 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 43% | 1% |
| High-net-worth individuals | 41% | 59% |
| Pooled investment vehicles | 3% | 38% |
| Corporations and other businesses | 12% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 71 | $1.62M | 1.1% | $22.8K |
| High-net-worth individuals | 68 | $88.7M | 58.7% | $1.3M |
| Pooled investment vehicles | 5 | $57.7M | 38.2% | $11.5M |
| Corporations and other businesses | 20 | $3.05M | 2.0% | $153K |
| Total | 164 | $151M | 100% | $921K |
- Clients
- 71
- Regulatory AUM
- $1.62M
- AUM share
- 1.1%
- Avg. per client
- $22.8K
- Clients
- 68
- Regulatory AUM
- $88.7M
- AUM share
- 58.7%
- Avg. per client
- $1.3M
- Clients
- 5
- Regulatory AUM
- $57.7M
- AUM share
- 38.2%
- Avg. per client
- $11.5M
- Clients
- 20
- Regulatory AUM
- $3.05M
- AUM share
- 2.0%
- Avg. per client
- $153K
Total
- Clients
- 164
- Regulatory AUM
- $151M
- AUM share
- 100%
- Avg. per client
- $921K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 21
- Private funds advised
- 5
- Financial planning clients last fiscal year
- 26–50
XPS Capital is paid through a percentage of assets under management 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 3 other services, listed under fee details.
Fee details and sources
Other fees
- Financial Planning
- Fixed financial planning fees range from $99 to $25,000 depending on plan complexity, paid 100% in advance and refundable within five business days.
- Pension Consulting
- Pension and 401(k) plan consulting is a flat annual fee of 1.00% on all assets, billed monthly in arrears; fees are negotiable.
- Private Placement Consulting
- Charged in addition to the portfolio management fee: 0.75% on the first $500,000, 0.60% to $3,000,000, 0.50% to $5,000,000, 0.40% to $10,000,000 and 0.30% above that.
Joseph Cope owns 50% to 75% of XPS Capital. The leadership team of XPS Capital includes Chief Compliance Officer Joseph Cope. It has 6 employees, 2 of them in advisory roles.
Leadership
- Joseph CopeManaging Member & Chief Compliance Officer
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
Staff
- 6 employees
- 2 in advisory functions
- 2 state-registered reps
- 1 broker-dealer rep
- 1 insurance agent
- Owns 50% to 75% of XPS Capital LLC
Joseph Cope
Control person · since May 2019
XPS Capital’s regulatory assets grew from $130M (June 2022) to $151M (July 2026); clients fell from 296 to 164 and employees were 6 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| July 2026 | $151M | 164 | 6 | 1 |
| July 2025 | $79.1M | 230 | 6 | 1 |
| May 2024 | $153M | 646 | 7 | 3 |
| April 2023 | $141M | 610 | 6 | 3 |
| June 2022 | $130M | 296 | 6 | 4 |
Besides its headquarters, XPS Capital has 0 offices, with 1 listed address in Virginia.
Virginia · 1 listed address
- 1700 N. Moore St., Suite 1130, ArlingtonHQ
Other business names
XPS Capital has reported 2 other business names to the SEC.
- Cope Connelly
- Govconwealth
Contact and registration details
- Legal name
- XPS Capital LLC
- Headquarters
- 1700 N. Moore St., Suite 1130, Arlington, VA 22209
- Website
- copeconnelly.com
- Phone
- 888-336-8402
- @cope-corrales
- SEC file
- 801-124729
- Structure
- District of Columbia LLC
- Fiscal year end
- December
XPS Capital uses Charles Schwab ($55.4M, 77%) and Fidelity ($17M, 23%) as custodians for its separately managed accounts. XPS Capital does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $55.4M77%
- FidelityFidelity Brokerage Services LLC · Greenwich, CT · $17M23%
At year end, XPS Capital’s separately managed accounts were mostly in stocks (65%) and funds (33%).
What the accounts hold
- Stocks65%
- Funds33%
- Cash2%
How many clients does XPS Capital have?
XPS Capital has 164 clients and manages $151 million for them, as of July 2026. They include 71 individual clients, 68 high-net-worth individuals, and 20 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 23 July 2026
What services does XPS Capital offer?
XPS Capital provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does XPS Capital use?
XPS Capital’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $55.4M and Fidelity Brokerage Services LLC (Greenwich, CT), with $17M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 23 July 2026
How many financial advisors does XPS Capital have?
XPS Capital has 2 investment adviser representatives registered with state securities authorities, out of 6 employees, and 2 perform investment advisory functions. 1 employee is a registered representative 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 XPS Capital invest in?
At the end of its last fiscal year, XPS Capital’s separately managed accounts held 65% exchange-traded equities, 33% registered funds (mutual funds, ETFs, BDCs) and 2% cash and equivalents. It advises 5 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns XPS Capital?
XPS Capital’s direct owner is Joseph Cope (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 23 July 2026
How does XPS Capital get paid?
XPS Capital is paid through a percentage of assets under management 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 XPS Capital?
XPS Capital’s main office is at 1700 N. Moore St., Suite 1130, Arlington, VA 22209. Its phone number is 888-336-8402. Its website is copeconnelly.com.