AdvisorCensus / Financial advisors / Oregon / Portland / Matisse Capital
Matisse Capital
Filed as MATISSE CAPITAL · Legal name Deschutes Portfolio Strategy, LLC
Matisse Capital is an SEC-registered investment advisory firm in Portland, OR, registered since 2010, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 18, 2026.
Quick answers
From the filingHow is Matisse Capital compensated?
On its Form ADV (Item 5.E, October 2026), Matisse Capital reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).
What does Matisse Capital's brochure say about its fees?
Its Form ADV Part 2A brochure dated March 20, 2026 states: Asset-based fee: 1% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Matisse Capital located?
Matisse Capital's principal office is in Portland, OR, according to its Form ADV.
Is Matisse Capital registered with the SEC or a state?
Matisse Capital is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 155424.
How much does Matisse Capital manage?
Matisse Capital reports $1,626,629,400 in regulatory assets under management in its Form ADV filing dated September 18, 2026 (52% discretionary).
How have Matisse Capital's assets and staff changed since 2021?
In the Form ADV data for Matisse Capital: Regulatory assets under management: $1,513,849,807 in the October 2021 data and $1,626,629,400 in the October 2026 data, up 7%. Total employees: 9 in October 2021 and 11 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Matisse Capital serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (191); high net worth individuals (116); pension and profit sharing plans (but not the plan participants or government pension plans) (37).
Which custodians does Matisse Capital use?
Matisse Capital's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Vanguard Fiduciary Trust Company as custodians holding 10% or more of its separately managed account assets.
Does Matisse Capital 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/155424
Does Matisse Capital state an account minimum?
Its Form ADV Part 2A brochure dated March 20, 2026 says: "Matisse generally requires a minimum of $1,000,000 to open an individually managed account (or group of accounts) but reserves the right to waive this minimum."
What changed in Matisse Capital's recent Form ADV filings?
In the October 2026 filing data: Registered or notice-filed in TX.
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
- Hourly charges
- Fixed fees (other than subscription fees)
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 2AAsset-based fee: 1% of assets a year
The brochure's wording
The fee structure for investment management is typically no greater than 1% of the assets managed within your account. However, Matisse may agree to a negotiated rate based on the amount of assets being managed or in some situations a fixed fee.
Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)
The brochure's wording
Matisse generally requires a minimum of $1,000,000 to open an individually managed account (or group of accounts) but reserves the right to waive this minimum.
As stated in the firm's Form ADV Part 2A brochure dated March 20, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$1,626,629,400 as of October 2026, filing dated September 18, 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- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Educational seminars/workshops
Registration and firm details
Items 1, 2, 5- Legal name
- Deschutes Portfolio Strategy, LLC
- Also doing business as
- MATISSE CAPITAL
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2010 (15 years)
- Employees
- Total: 11. Performing investment advisory functions: 10.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- States registered or notice-filed
-
6 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 | $1,626,629,400 | 11 | September 18, 2026 |
| October 2025 | $1,501,860,305 | 12 | June 30, 2025 |
| October 2024 | $1,356,007,202 | 10 | August 29, 2024 |
| October 2023 | $1,110,540,408 | 10 | July 12, 2023 |
| October 2022 | $1,602,501,027 | 10 | July 13, 2022 |
| October 2021 | $1,513,849,807 | 9 | June 29, 2021 |
Regulatory assets under management: $1,513,849,807 in the October 2021 data and $1,626,629,400 in the October 2026 data, up 7%.
Total employees: 9 in October 2021 and 11 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
- Registered or notice-filed in TX.
- April 2026
- Employees performing advisory functions went from 9 to 10.
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. Matisse Capital (CRD 155424): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/matisse-capital-portland-or-155424