# Cope Connelly

> Cope Connelly is an SEC-registered investment advisory firm in Arlington, VA, registered since 2022, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated July 23, 2026.

- CRD: 311665
- Filed as: COPE CONNELLY
- Legal name: XPS Capital LLC
- Also doing business as: COPE CONNELLY, GOVCONWEALTH
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Arlington, VA
- Filing period: October 2026
- Form ADV filing dated: July 23, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/311665
- AdvisorCensus page: https://advisorcensus.com/firm/cope-connelly-arlington-va-311665

## Quick answers

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

**How much does Cope Connelly charge?**
Its Form ADV Part 2A brochure dated July 23, 2026 states: Flat fee: $99 to $25,000 (Financial Planning Fees). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Cope Connelly located?**
Cope Connelly's principal office is in Arlington, VA, according to its Form ADV.

**Is Cope Connelly registered with the SEC or a state?**
Cope Connelly is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 311665.

**How much does Cope Connelly manage?**
Cope Connelly reports $151,094,700 in regulatory assets under management in its Form ADV filing dated July 23, 2026 (100% discretionary).

**How have Cope Connelly's assets and staff changed since 2022?**
In the Form ADV data for Cope Connelly: Regulatory assets under management: $136,286,386 in the October 2022 data and $151,094,700 in the October 2026 data, up 11%. Total employees: 7 in October 2022 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Cope Connelly serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (71); high net worth individuals (68); corporations or other businesses not listed above (20).

**Which custodians does Cope Connelly use?**
Cope Connelly's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Cope Connelly 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/311665

**Does Cope Connelly state an account minimum?**
Its Form ADV Part 2A brochure dated July 23, 2026 says: "There is no minimum account size required to open or maintain an account."

**What changed in Cope Connelly's recent Form ADV filings?**
In the August 2026 filing data: Regulatory assets under management went from $107,648,311 to $151,094,700 (+40%).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated July 23, 2026)

- Account minimum: None

> There is no minimum account size required to open or maintain an account.

- Flat fee: $99 to $25,000 (Financial Planning Fees)

> Fixed fees ranging from $99 to $25,000 depending on plan complexity. Paid 100% in advance.

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.
- Fidelity Brokerage Services LLC

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: $151,094,700
- Discretionary: $151,094,700
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 71 | $1,621,943 |
| High net worth individuals | 68 | $88,692,107 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $57,727,389 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 20 | $3,053,261 |
| Other | 0 | $0 |

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

### Firm details
- Registered since: 2022 (4 years)
- Employees: 6 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, DC, FL, MA, MD, NC, PA, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- copeconnelly.com
- govconwealth.com
- LinkedIn @cope-corrales

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $136,286,386 | 7 | September 26, 2022 |
| October 2023 | $140,851,141 | 6 | September 22, 2023 |
| October 2024 | $153,447,243 | 6 | August 20, 2024 |
| October 2025 | $79,097,835 | 6 | July 1, 2025 |
| October 2026 | $151,094,700 | 6 | July 23, 2026 |

Regulatory assets under management: $136,286,386 in the October 2022 data and $151,094,700 in the October 2026 data, up 11%.
Total employees: 7 in October 2022 and 6 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Regulatory assets under management went from $107,648,311 to $151,094,700 (+40%).

### June 2026
- Employees performing advisory functions went from 3 to 2.
- Regulatory assets under management went from $95,314,311 to $107,648,311 (+13%).

### April 2026
- Regulatory assets under management went from $247,623,331 to $95,314,311 (-62%).

### December 2025
- Regulatory assets under management went from $79,097,835 to $247,623,331 (+213%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Cope Connelly (CRD 311665): Form ADV filing data as of October 2026.