Capitol Securities Management, Inc.

Capitol Securities Management serves individual investors (including high-net-worth clients), institutional and corporate clients, retirement plans, trusts and small businesses, offering portfolio management, comprehensive financial planning, consulting, and both sponsored and third-party wrap fee programs. The firm operates as a full-service retail broker-dealer and registered investment adviser, and clients enter advisory relationships either with CSM or with the custodian under written agreements that describe services and authority.

Investment advice is delivered primarily through the firm’s IAR-managed programs, which can be discretionary or non-discretionary, and through separately managed accounts, model portfolios, and third‑party Money Managers accessed via its clearing custodian. Financial plans are prepared from in-depth client interviews and may be delivered as one-time reports or ongoing monitoring arrangements; CSM also performs due diligence on the custodian’s Money Manager vetting process and oversees implementation through the IAR.

Distinctive features include the firm’s dual role as both a broker-dealer and an investment adviser, its primary clearing relationship with Raymond James (including use of Raymond James-sponsored wrap programs, cash sweep options, securities‑based lending and fully‑paid securities lending arrangements), and revenue-sharing and sponsorship arrangements that the brochure discloses can create conflicts of interest or incentives for certain recommendations. The firm’s regulatory history, disclosed in its ADV, notes prior FINRA, state and SEC actions that resulted in fines, restitution and compliance undertakings related to supervisory and disclosure issues.