Tolton Asset Management, LLC

Tolton Asset Management is a fee-only registered investment adviser that provides portfolio management and financial consulting to individuals, trusts, estates, charitable organizations, small businesses and retirement plans; as of December 31, 2024 it reported roughly $30.36 million in AUM across 40 clients and is operated by two advisors. In addition to investment management, the firm owns and operates a separate CPA division that offers tax advice, tax return preparation and other accounting services under direct engagement.

The firm follows a non-discretionary advisory model: it recommends asset allocations and specific investments but does not accept discretionary trading authority, placing trades only with client approval and using a limited power of attorney to execute approved transactions. Investment advice emphasizes diversified portfolios constructed from mutual funds, ETFs and select alternative investments (private funds, limited partnerships and LLCs), with portfolio tilts toward smaller-company and value exposures and periodic reviews at least annually.

Noteworthy aspects relative to peers include the ownership of an affiliated CPA practice — an uncommon feature among similar firms — and the firm’s documented preference for non-discretionary relationships rather than discretionary management. The practice is small and generalist (no account minimum), does not target a high‑net‑worth niche, may accept processing/finder fees from alternative investment providers paid by the provider (not from client assets), and leaves proxy voting and custodial reporting primarily to clients rather than providing separate performance reports.