AdvisorCensus / Financial advisors / Texas / Dallas / Level Four Capital Management
Level Four Capital Management is an SEC-registered investment advisory firm in Dallas, TX, registered since 2019, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 11, 2026.
Quick answers
From the filingHow is Level Four Capital Management compensated?
On its Form ADV (Item 5.E, October 2026), Level Four Capital Management reports these compensation arrangements: a percentage of assets under its management.
Where is Level Four Capital Management located?
Level Four Capital Management's principal office is in Dallas, TX, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F).
Is Level Four Capital Management registered with the SEC or a state?
Level Four Capital Management is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 304792.
How much does Level Four Capital Management manage?
Level Four Capital Management reports $1,381,485,153 in regulatory assets under management in its Form ADV filing dated September 11, 2026 (100% discretionary).
How have Level Four Capital Management's assets and staff changed since 2021?
In the Form ADV data for Level Four Capital Management: Regulatory assets under management: $790,936,094 in the October 2021 data and $1,381,485,153 in the October 2026 data, up 75%. Total employees: 9 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 Level Four Capital Management serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (2,094); high net worth individuals (1,233); pension and profit sharing plans (but not the plan participants or government pension plans) (96).
Which custodians does Level Four Capital Management use?
Level Four Capital Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC and Raymond James & Associates, Inc. as custodians holding 10% or more of its separately managed account assets.
Does Level Four 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/304792
What changed in Level Four Capital Management's recent Form ADV filings?
In the October 2026 filing data: Updated its list of owners and control persons (Schedule A).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AThe brochure lists different fees for different services or strategies. See the firm's brochure (dated March 30, 2026) for its fees and any account minimum, on the SEC's IAPD site.
Regulatory assets under management
Item 5.F$1,381,485,153 as of October 2026, filing dated September 11, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for individuals and/or small businesses
- Selection of other advisers (including private fund managers)
- Educational seminars/workshops
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2019 (6 years)
- Employees
- Total: 9. Performing investment advisory functions: 8.
- Wrap fee program participation
- Yes.
- Custodians (Schedule D, Section 5.K(3))
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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.
- Other offices (Schedule D, Section 1.F)
-
1 other office, as of the October 2026 filing
- States registered or notice-filed
-
52 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $1,381,485,153 | 9 | September 11, 2026 |
| October 2025 | $1,229,065,993 | 9 | March 27, 2025 |
| October 2024 | $1,011,305,374 | 10 | March 27, 2024 |
| October 2023 | $784,408,511 | 10 | September 12, 2023 |
| October 2022 | $919,093,399 | 9 | March 30, 2022 |
| October 2021 | $790,936,094 | 9 | September 9, 2021 |
Regulatory assets under management: $790,936,094 in the October 2021 data and $1,381,485,153 in the October 2026 data, up 75%.
Total employees: 9 in October 2021 and 9 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- October 2026
- Updated its list of owners and control persons (Schedule A).
- April 2026
- Employees performing advisory functions went from 9 to 8.
- Regulatory assets under management went from $1,229,065,993 to $1,381,485,153 (+12%).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Level Four Capital Management (CRD 304792): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/level-four-capital-management-dallas-tx-304792