# Godshalk Welsh Capital Management, Inc.

> Godshalk Welsh Capital Management, Inc. is an SEC-registered investment advisory firm in Radnor, PA, registered since 1991, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 26, 2026.

- CRD: 106410
- Filed as: GODSHALK WELSH CAPITAL MANAGEMENT, INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Radnor, PA
- Filing period: October 2026
- Form ADV filing dated: March 26, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106410
- AdvisorCensus page: https://advisorcensus.com/firm/godshalk-welsh-capital-management-inc-radnor-pa-106410

## Quick answers

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

**How much does Godshalk Welsh Capital Management, Inc. charge?**
Its Form ADV Part 2A brochure dated March 25, 2026 states: Asset-based fee: 0.5% to 1% a year (a range, as the brochure states it); Flat fee: $1,000 to $5,000 (financial planning and / or related consulting services…); Hourly rate: $200 an hour (financial planning and / or related consulting services…). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Godshalk Welsh Capital Management, Inc. located?**
Godshalk Welsh Capital Management, Inc.'s principal office is in Radnor, PA, according to its Form ADV.

**Is Godshalk Welsh Capital Management, Inc. registered with the SEC or a state?**
Godshalk Welsh Capital Management, Inc. is an SEC-registered investment advisory firm, registered since 1991. Status as filed: Approved. CRD 106410.

**How much does Godshalk Welsh Capital Management, Inc. manage?**
Godshalk Welsh Capital Management, Inc. reports $290,498,677 in regulatory assets under management in its Form ADV filing dated March 26, 2026 (100% discretionary).

**How have Godshalk Welsh Capital Management, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for Godshalk Welsh Capital Management, Inc.: Regulatory assets under management: $250,240,859 in the October 2021 data and $290,498,677 in the October 2026 data, up 16%. Total employees: 3 in October 2021 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Godshalk Welsh Capital Management, Inc. serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (72); individuals (other than high net worth individuals) (38).

**Which custodians does Godshalk Welsh Capital Management, Inc. use?**
Godshalk Welsh Capital Management, Inc.'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 Godshalk Welsh Capital Management, Inc. 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/106410

## From the Form ADV filing

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

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

- Asset-based fee: 0.5% to 1% a year (a range, as the brochure states it)

> Registrant’s negotiable annual investment advisory fee shall generally be based upon a percentage (%) of the market value and type of assets placed under Registrant’s management, generally ranging from 0.50% to 1.00% as set forth on the Asset Management Agreement between the client and the Registrant.

- Flat fee: $1,000 to $5,000 (financial planning and / or related consulting services…)

> Registrant’s planning and consulting fees are negotiable, but generally the Registrant charges between $1,000 and $5,000 on a fixed fee basis, depending upon the level and scope of the service(s) required and the professional(s) rendering the service(s)

- Hourly rate: $200 an hour (financial planning and / or related consulting services…)

> Registrant’s planning and consulting fees are negotiable, but generally the Registrant charges between $1,000 and $5,000 on a fixed fee basis, depending upon the level and scope of the service(s) required and the professional(s) rendering the service(s), or $200 per hour on an hourly basis.

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: $290,498,677
- Discretionary: $290,498,677
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 38 | $18,080,077 |
| High net worth individuals | 72 | $265,713,738 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $4,933,934 |
| Charitable organizations | Fewer than 5 | $1,770,928 |

### 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

### Firm details
- Registered since: 1991 (35 years)
- Employees: 2 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CO, DE, FL, NJ, NY, PA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- emgodshalk.com
- godshalkwelsh.com
- LinkedIn @3296442

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $250,240,859 | 3 | March 29, 2021 |
| October 2022 | $281,076,292 | 3 | April 21, 2022 |
| October 2023 | $253,642,196 | 2 | March 31, 2023 |
| October 2024 | $255,258,995 | 2 | March 28, 2024 |
| October 2025 | $275,517,080 | 2 | March 25, 2025 |
| October 2026 | $290,498,677 | 2 | March 26, 2026 |

Regulatory assets under management: $250,240,859 in the October 2021 data and $290,498,677 in the October 2026 data, up 16%.
Total employees: 3 in October 2021 and 2 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Godshalk Welsh Capital Management, Inc. (CRD 106410): Form ADV filing data as of October 2026.