{
  "crd_number": 122816,
  "slug": "icapital-llc-boston-ma-122816",
  "primary_business_name": "ICAPITAL, LLC",
  "legal_name": "ICAPITAL, LLC",
  "dbas": [],
  "city": "Boston",
  "state": "MA",
  "country": "United States",
  "cbsa_code": "14460",
  "metro": {
    "cbsa_code": "14460",
    "common_name": "Boston",
    "msa_name": "Boston-Cambridge-Newton, MA-NH",
    "path": "/advisors/ma/boston"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2002-10-18",
  "years_registered": 23,
  "period": "2026-10-01",
  "filing_date": "2026-03-30",
  "carried_forward": false,
  "raum_total": 1452570340.0,
  "raum_discretionary": 1452179846.0,
  "raum_non_discretionary": 390494.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 9,
  "advisory_employees": 6,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 719726.0,
      "count": 1,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 45165145.0,
      "count": 120
    },
    "pension_profit_sharing": {
      "raum": 1207612786.0,
      "count": 39
    },
    "high_net_worth_individuals": {
      "raum": 199072683.0,
      "count": 60
    }
  },
  "compensation_types": [
    "fixed",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "other",
    "pension_consulting",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA",
    "CO",
    "CT",
    "FL",
    "MA",
    "ME",
    "NH",
    "NJ",
    "NY",
    "RI",
    "TX"
  ],
  "websites": [
    "https://icapitalforme.com",
    "https://icapllc.us",
    "https://linkedin.com/company/icapital/about"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/122816",
  "city_as_filed": "BOSTON",
  "url": "https://advisorcensus.com/firm/icapital-llc-boston-ma-122816",
  "display_name": "Icapital, LLC",
  "summary": "Icapital, LLC is an SEC-registered investment advisory firm in Boston, MA, registered since 2002, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.",
  "citation": "AdvisorCensus. Icapital, LLC (CRD 122816): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "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",
    "Pension consulting services",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Icapital, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Icapital, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees)."
    },
    {
      "q": "Where is Icapital, LLC located?",
      "a": "Icapital, LLC's principal office is in Boston, MA, according to its Form ADV."
    },
    {
      "q": "Is Icapital, LLC registered with the SEC or a state?",
      "a": "Icapital, LLC is an SEC-registered investment advisory firm, registered since 2002. Status as filed: Approved. CRD 122816."
    },
    {
      "q": "How much does Icapital, LLC manage?",
      "a": "Icapital, LLC reports $1,452,570,340 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary)."
    },
    {
      "q": "How have Icapital, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Icapital, LLC: Regulatory assets under management: $848,211,455 in the October 2021 data and $1,452,570,340 in the October 2026 data, up 71%. Total employees: 11 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Icapital, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (120); high net worth individuals (60); pension and profit sharing plans (but not the plan participants or government pension plans) (39)."
    },
    {
      "q": "Which custodians does Icapital, LLC use?",
      "a": "Icapital, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Alerus Securities Corporation, Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Icapital, LLC report any disciplinary disclosures?",
      "a": "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/122816"
    },
    {
      "q": "What changed in Icapital, LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 7 to 6. Regulatory assets under management went from $1,242,907,466 to $1,452,570,340 (+17%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 848211455.0,
      "total_employees": 11,
      "filing_date": "2021-03-30"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1094343348.0,
      "total_employees": 10,
      "filing_date": "2022-03-23"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 958495144.0,
      "total_employees": 10,
      "filing_date": "2023-03-28"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1124268021.0,
      "total_employees": 9,
      "filing_date": "2024-03-28"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1242907466.0,
      "total_employees": 9,
      "filing_date": "2025-04-10"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1452570340.0,
      "total_employees": 9,
      "filing_date": "2026-03-30"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 7 to 6.",
        "Regulatory assets under management went from $1,242,907,466 to $1,452,570,340 (+17%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Alerus Securities Corporation",
      "name_as_filed": "ALERUS SECURITIES CORPORATION",
      "affiliated": false
    },
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "Fidelity Brokerage Services LLC",
      "name_as_filed": "FIDELITY BROKERAGE SERVICES LLC",
      "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/icapital-llc-boston-ma-122816.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 120,
      "fewer_than_5": false,
      "raum": 45165145.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 60,
      "fewer_than_5": false,
      "raum": 199072683.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 39,
      "fewer_than_5": false,
      "raum": 1207612786.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 1,
      "fewer_than_5": true,
      "raum": 719726.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "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/122816",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}