# Cutler Capital Management

> Cutler Capital Management is an SEC-registered investment advisory firm in Worcester, MA, registered since 2000, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 25, 2026.

- CRD: 107463
- Filed as: CUTLER CAPITAL MANAGEMENT
- Legal name: Cutler Capital Management LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Worcester, MA
- Filing period: October 2026
- Form ADV filing dated: March 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107463
- AdvisorCensus page: https://advisorcensus.com/firm/cutler-capital-management-worcester-ma-107463

## Quick answers

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

**How much does Cutler Capital Management charge?**
Its Form ADV Part 2A brochure dated March 25, 2026 states: Flat fee: $2,500 to $6,000 (financial planning services). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Cutler Capital Management located?**
Cutler Capital Management's principal office is in Worcester, MA, according to its Form ADV.

**Is Cutler Capital Management registered with the SEC or a state?**
Cutler Capital Management is an SEC-registered investment advisory firm, registered since 2000. Status as filed: Approved. CRD 107463.

**How much does Cutler Capital Management manage?**
Cutler Capital Management reports $430,827,783 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (100% discretionary).

**How have Cutler Capital Management's assets and staff changed since 2021?**
In the Form ADV data for Cutler Capital Management: Regulatory assets under management: $249,246,822 in the October 2021 data and $430,827,783 in the October 2026 data, up 73%. Total employees: 7 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Cutler Capital Management serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (102); individuals (other than high net worth individuals) (22); corporations or other businesses not listed above (15).

**Which custodians does Cutler Capital Management use?**
Cutler Capital Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC and RBC Capital Markets, LLC as custodians holding 10% or more of its separately managed account assets.

**Does Cutler Capital Management 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/107463

**Does Cutler Capital Management state an account minimum?**
Its Form ADV Part 2A brochure dated March 25, 2026 says: "Cutler has a standardized minimum portfolio size for all clients of $1,000,000; provided, however, that Cutler will not manage a client's account unless the value of the account assets is sufficiently large enough to enable Cutler to meet the client's investment objectives."

**What changed in Cutler Capital Management's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $339,913,005 to $430,827,783 (+27%).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 25, 2026)

- Account minimum: $1,000,000

> Cutler has a standardized minimum portfolio size for all clients of $1,000,000; provided, however, that Cutler will not manage a client's account unless the value of the account assets is sufficiently large enough to enable Cutler to meet the client's investment objectives.

- Minimum annual fee: $3,000

> We charge a minimum investment management fee in the amount of $3,000 annually to open and maintain an advisory account. At our discretion we may waive such minimum fee.

- Flat fee: $2,500 to $6,000 (financial planning services)

> We charge a fixed fee for financial planning services, which generally ranges between $2,500 and $6,000.

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

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Brokerage Services LLC
- RBC Capital Markets, 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: $430,827,783
- Discretionary: $430,827,783
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 22 | $5,006,125 |
| High net worth individuals | 102 | $275,187,691 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $101,328,843 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 2 | $3,564,828 |
| Charitable organizations | 3 | $16,443,875 |
| Corporations or other businesses not listed above | 15 | $29,296,421 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2000 (26 years)
- Employees: 9 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL, MA, NH
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [cutlercapital.com](https://cutlercapital.com)
- Facebook @cutlercapital
- LinkedIn @CUTLER-CAPITAL-MANAGEMENT-LLC

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $249,246,822 | 7 | May 21, 2021 |
| October 2022 | $322,534,365 | 8 | April 14, 2022 |
| October 2023 | $305,457,112 | 8 | March 31, 2023 |
| October 2024 | $315,574,322 | 9 | March 26, 2024 |
| October 2025 | $339,913,005 | 9 | March 28, 2025 |
| October 2026 | $430,827,783 | 9 | March 25, 2026 |

Regulatory assets under management: $249,246,822 in the October 2021 data and $430,827,783 in the October 2026 data, up 73%.
Total employees: 7 in October 2021 and 9 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $339,913,005 to $430,827,783 (+27%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Cutler Capital Management (CRD 107463): Form ADV filing data as of October 2026.