{
  "crd_number": 106158,
  "slug": "hcm-wealth-san-rafael-ca-106158",
  "primary_business_name": "HCM WEALTH",
  "legal_name": "HUTCHINSON CAPITAL MANAGEMENT",
  "dbas": [],
  "city": "San Rafael",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "41860",
  "metro": {
    "cbsa_code": "41860",
    "common_name": "San Francisco",
    "msa_name": "San Francisco-Oakland-Fremont, CA",
    "path": "/advisors/ca/san-francisco"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1995-02-17",
  "years_registered": 31,
  "period": "2026-10-01",
  "filing_date": "2026-03-30",
  "carried_forward": false,
  "raum_total": 941652018.0,
  "raum_discretionary": 937147990.0,
  "raum_non_discretionary": 4504028.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 7,
  "advisory_employees": 5,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 2620431.0,
      "count": 4
    },
    "individuals": {
      "raum": 94447642.0,
      "count": 113
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 29065846.0,
      "count": 2
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 54459090.0,
      "count": 15
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 739455946.0,
      "count": 156
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 21603063.0,
      "count": 6
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 1,
  "states_registered": [
    "CA",
    "NV",
    "OR",
    "TX",
    "WA"
  ],
  "websites": [
    "https://hcm-wealth.com",
    "https://linkedin.com/COMPANY/HCM-WEALTH"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106158",
  "disclosure_items": [
    {
      "item": "11.H(1)(c)",
      "question": "Has a domestic or foreign court ever dismissed, under a settlement agreement, an investment-related civil action brought against the firm or an advisory affiliate by a state or foreign financial regulator?"
    }
  ],
  "city_as_filed": "SAN RAFAEL",
  "url": "https://advisorcensus.com/firm/hcm-wealth-san-rafael-ca-106158",
  "display_name": "HCM Wealth",
  "summary": "HCM Wealth is an SEC-registered investment advisory firm in San Rafael, CA, registered since 1995, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.",
  "citation": "AdvisorCensus. HCM Wealth (CRD 106158): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is HCM Wealth compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), HCM Wealth reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees)."
    },
    {
      "q": "Where is HCM Wealth located?",
      "a": "HCM Wealth's principal office is in San Rafael, CA, according to its Form ADV."
    },
    {
      "q": "Is HCM Wealth registered with the SEC or a state?",
      "a": "HCM Wealth is an SEC-registered investment advisory firm, registered since 1995. Status as filed: Approved. CRD 106158."
    },
    {
      "q": "How much does HCM Wealth manage?",
      "a": "HCM Wealth reports $941,652,018 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary)."
    },
    {
      "q": "How have HCM Wealth's assets and staff changed since 2021?",
      "a": "In the Form ADV data for HCM Wealth: Regulatory assets under management: $644,056,524 in the October 2021 data and $941,652,018 in the October 2026 data, up 46%. Total employees: 9 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does HCM Wealth serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (156); individuals (other than high net worth individuals) (113); pension and profit sharing plans (but not the plan participants or government pension plans) (15)."
    },
    {
      "q": "Which custodians does HCM Wealth use?",
      "a": "HCM Wealth'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."
    },
    {
      "q": "Does HCM Wealth report any disciplinary disclosures?",
      "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.H(1)(c) (regulator's civil action dismissed under a settlement). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106158"
    },
    {
      "q": "Does HCM Wealth state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 30, 2026 says: \"HCM Wealth generally requires new clients to place a minimum of $1,000,000 under management. However, the Firm may accept accounts with assets below $1,000,000 and in these instances, fees will be negotiated.\""
    },
    {
      "q": "What changed in HCM Wealth's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Its Item 11 disclosure answers changed (now yes: 11.H(1)(c); now no: 11.H(2))."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 644056524.0,
      "total_employees": 9,
      "filing_date": "2021-06-24"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 721204511.0,
      "total_employees": 9,
      "filing_date": "2022-06-27"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 825321725.0,
      "total_employees": 7,
      "filing_date": "2023-04-05"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 832965445.0,
      "total_employees": 7,
      "filing_date": "2024-04-30"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 883341656.0,
      "total_employees": 7,
      "filing_date": "2025-06-04"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 941652018.0,
      "total_employees": 7,
      "filing_date": "2026-03-30"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Its Item 11 disclosure answers changed (now yes: 11.H(1)(c); now no: 11.H(2))."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "Employees performing advisory functions went from 3 to 5."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 30, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": "$10,000",
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000"
        ],
        "quotes": [
          "HCM Wealth generally requires new clients to place a minimum of $1,000,000 under management. However, the Firm may accept accounts with assets below $1,000,000 and in these instances, fees will be negotiated."
        ]
      },
      {
        "label": "Minimum annual fee",
        "statements": [
          "Minimum annual fee: $10,000"
        ],
        "quotes": [
          "For new clients and clients that no longer meet the minimum portfolio requirement, Hutchinson has established a minimum annual management fee of $10,000, prorated and payable quarterly.",
          "At the Firm’s sole discretion, it may waive the minimum fee requirement based upon factors that include but are not limited to: the anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be managed, related client portfolios, account composition, history of client relationship with the Firm, account retention, and pro bono activities, related to the account."
        ]
      }
    ],
    "quotes": [
      "HCM Wealth generally requires new clients to place a minimum of $1,000,000 under management. However, the Firm may accept accounts with assets below $1,000,000 and in these instances, fees will be negotiated.",
      "For new clients and clients that no longer meet the minimum portfolio requirement, Hutchinson has established a minimum annual management fee of $10,000, prorated and payable quarterly.",
      "At the Firm’s sole discretion, it may waive the minimum fee requirement based upon factors that include but are not limited to: the anticipated future earning capacity, anticipated future additional assets, dollar amount of assets to be managed, related client portfolios, account composition, history of client relationship with the Firm, account retention, and pro bono activities, related to the account."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/hcm-wealth-san-rafael-ca-106158.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 113,
      "fewer_than_5": false,
      "raum": 94447642.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 156,
      "fewer_than_5": false,
      "raum": 739455946.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 15,
      "fewer_than_5": false,
      "raum": 54459090.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 4,
      "fewer_than_5": false,
      "raum": 2620431.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 2,
      "fewer_than_5": false,
      "raum": 29065846.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 6,
      "fewer_than_5": false,
      "raum": 21603063.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106158",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}