# Brown Capital Management, LLC

> Brown Capital Management, LLC is an SEC-registered investment advisory firm in Little Rock, AR, registered since 2024, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated August 6, 2026.

- CRD: 174101
- Filed as: BROWN CAPITAL MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Little Rock, AR
- Filing period: October 2026
- Form ADV filing dated: August 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/174101
- AdvisorCensus page: https://advisorcensus.com/firm/brown-capital-management-llc-little-rock-ar-174101

## Quick answers

**How is Brown Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Brown Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges.

**How much does Brown Capital Management, LLC charge?**
Its Form ADV Part 2A brochure dated August 6, 2026 states: Hourly rate: $200 an hour (Financial Planning services). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Brown Capital Management, LLC located?**
Brown Capital Management, LLC's principal office is in Little Rock, AR, according to its Form ADV.

**Is Brown Capital Management, LLC registered with the SEC or a state?**
Brown Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 174101.

**How much does Brown Capital Management, LLC manage?**
Brown Capital Management, LLC reports $216,143,607 in regulatory assets under management in its Form ADV filing dated August 6, 2026 (96% discretionary).

**How have Brown Capital Management, LLC's assets and staff changed since 2024?**
In the Form ADV data for Brown Capital Management, LLC: Regulatory assets under management: $131,206,000 in the October 2024 data and $216,143,607 in the October 2026 data, up 65%. Total employees: 4 in October 2024 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Brown Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (252); high net worth individuals (62); pension and profit sharing plans (but not the plan participants or government pension plans) (13).

**Which custodians does Brown Capital Management, LLC use?**
Brown Capital Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Brown Capital Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/174101

**Does Brown Capital Management, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated August 6, 2026 says: "There is an account minimum, $200,000, which may be waived by the investment advisor, based on the needs of the client and the complexity of the situation."

**What changed in Brown Capital Management, LLC's recent Form ADV filings?**
In the May 2026 filing data: Employees performing advisory functions went from 3 to 4.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges

### Fees and minimums (Form ADV Part 2A brochure dated August 6, 2026)

- Account minimum: $200,000 (the brochure says it may be waived or negotiated)

> There is an account minimum, $200,000, which may be waived by the investment advisor, based on the needs of the client and the complexity of the situation.

- Hourly rate: $200 an hour (Financial Planning services)

> The hourly fee for these services is $200. The fees are negotiable and the final fee schedule will be attached as Exhibit II of the Financial Planning Agreement.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $216,143,607
- Discretionary: $208,123,771
- Non-discretionary: $8,019,836

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 252 | $41,067,286 |
| High net worth individuals | 62 | $162,107,705 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 13 | $12,968,616 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Pension consulting services
- Educational seminars/workshops

### Firm details
- Registered since: 2024 (2 years)
- Employees: 5 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AR, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- brown-cm.com
- Facebook @browncapitalmanagement

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | $131,206,000 | 4 | March 28, 2024 |
| October 2025 | $161,284,995 | 4 | April 1, 2025 |
| October 2026 | $216,143,607 | 5 | August 6, 2026 |

Regulatory assets under management: $131,206,000 in the October 2024 data and $216,143,607 in the October 2026 data, up 65%.
Total employees: 4 in October 2024 and 5 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Employees performing advisory functions went from 3 to 4.

### March 2026
- Employees performing advisory functions went from 4 to 3.

### December 2025
- Employees performing advisory functions went from 3 to 4.
- Regulatory assets under management went from $161,284,995 to $179,564,761 (+11%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Brown Capital Management, LLC (CRD 174101): Form ADV filing data as of October 2026.