# Capital Cities Investments

> Capital Cities Investments is an SEC-registered investment advisory firm in Indianapolis, IN, registered since 2008, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated April 1, 2026.

- CRD: 116185
- Filed as: CAPITAL CITIES INVESTMENTS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Indianapolis, IN
- Filing period: October 2026
- Form ADV filing dated: April 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/116185
- AdvisorCensus page: https://advisorcensus.com/firm/capital-cities-investments-indianapolis-in-116185

## Quick answers

**How is Capital Cities Investments compensated?**
On its Form ADV (Item 5.E, October 2026), Capital Cities Investments reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); commissions.

**Where is Capital Cities Investments located?**
Capital Cities Investments' principal office is in Indianapolis, IN, according to its Form ADV; the May 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Capital Cities Investments registered with the SEC or a state?**
Capital Cities Investments is an SEC-registered investment advisory firm, registered since 2008. Status as filed: Approved. CRD 116185.

**How much does Capital Cities Investments manage?**
Capital Cities Investments reports $287,942,391 in regulatory assets under management in its Form ADV filing dated April 1, 2026 (100% discretionary).

**How have Capital Cities Investments' assets and staff changed since 2021?**
In the Form ADV data for Capital Cities Investments: Regulatory assets under management: $210,775,354 in the October 2021 data and $287,942,391 in the October 2026 data, up 37%. Total employees: 22 in October 2021 and 16 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Capital Cities Investments serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (412); high net worth individuals (64).

**Which custodians does Capital Cities Investments use?**
Capital Cities Investments' 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 Capital Cities Investments 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/116185

**What changed in Capital Cities Investments' recent Form ADV filings?**
In the May 2026 filing data: Employees performing advisory functions went from 15 to 14. Regulatory assets under management went from $251,443,578 to $287,942,391 (+15%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Commissions

### 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: $287,942,391
- Discretionary: $287,942,391
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 412 | $142,274,850 |
| High net worth individuals | 64 | $145,667,541 |

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

### Firm details
- Registered since: 2008 (18 years)
- Employees: 16 total, 14 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, FL, IL, IN, LA, MI, NC, NH, NY, TX, VA, VT
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- Middlebury, VT
- Portland, IN
- Richmond, VA

### Websites listed on Form ADV (Item 1.I)
- capitalcitiesinvestments.com
- cciadvisor.com
- communityinvestmentcounselors.com
- investcci.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $210,775,354 | 22 | March 30, 2021 |
| October 2022 | $258,438,459 | 27 | September 22, 2022 |
| October 2023 | $211,707,355 | 25 | May 17, 2023 |
| October 2024 | $270,546,761 | 25 | March 14, 2024 |
| October 2025 | $251,443,578 | 19 | March 20, 2025 |
| October 2026 | $287,942,391 | 16 | April 1, 2026 |

Regulatory assets under management: $210,775,354 in the October 2021 data and $287,942,391 in the October 2026 data, up 37%.
Total employees: 22 in October 2021 and 16 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Employees performing advisory functions went from 15 to 14.
- Regulatory assets under management went from $251,443,578 to $287,942,391 (+15%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Capital Cities Investments (CRD 116185): Form ADV filing data as of October 2026.