Capstone, LLC
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
About
Capstone serves institutional investors — including mutual funds, hedge funds, private equity firms and long‑only managers — by providing policy analysis, regulatory due diligence, and written research products. The Form ADV notes the firm delivers regular research communications (daily, weekly and monthly) and, per the firm’s disclosures, serves a significant non‑U.S. institutional client base in addition to U.S. clients.
The firm’s approach emphasizes vetted, impersonal research and advisory services rather than portfolio management: clients receive comprehensive reports, brief updates, and ad‑hoc analyses, and Capstone assembles internal teams for quick‑turnaround, deep‑dive due diligence projects. Capstone does not manage or trade client assets, accept trading authority, or provide tailored portfolio management, so clients retain responsibility for investment decisions while accessing the firm’s analysts and research.
Noteworthy aspects disclosed in the brochure include an uncommon fee and compensation model—fixed retainers, project fees, and a periodic “research vote” arrangement used by some larger clients—instead of percentage‑of‑AUM or performance‑based fees. The firm also publishes regular periodicals/updates, maintains formal policies on political intelligence and a code of ethics, and focuses on legislative and regulatory analysis rather than providing tradable portfolio recommendations.
Client services
Occupation focus
Fee options
Fee-only: Fixed monthly retainer fees, project-based fees, and negotiated fees based on research votes; all fees are negotiable and vary by client
Main office
1401 New York Avenue NW, Suite 600
Washington DC 20005
Advisors at this office
1
Most active in
District of Columbia
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Forms ADV
Quick links
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