{
  "crd_number": 155424,
  "slug": "matisse-capital-portland-or-155424",
  "primary_business_name": "MATISSE CAPITAL",
  "legal_name": "DESCHUTES PORTFOLIO STRATEGY, LLC",
  "dbas": [
    "MATISSE CAPITAL"
  ],
  "city": "Portland",
  "state": "OR",
  "country": "United States",
  "cbsa_code": "38900",
  "metro": {
    "cbsa_code": "38900",
    "common_name": "Portland",
    "msa_name": "Portland-Vancouver-Hillsboro, OR-WA",
    "path": "/advisors/or/portland"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2010-11-23",
  "years_registered": 15,
  "period": "2026-10-01",
  "filing_date": "2026-09-18",
  "carried_forward": false,
  "raum_total": 1626629400.0,
  "raum_discretionary": 848133424.0,
  "raum_non_discretionary": 778495976.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 11,
  "advisory_employees": 10,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": null,
      "count": 0
    },
    "charitable": {
      "raum": 165028273.0,
      "count": 10
    },
    "individuals": {
      "raum": 67330897.0,
      "count": 191
    },
    "banking_thrift": {
      "raum": null,
      "count": 0
    },
    "state_municipal": {
      "raum": 58873258.0,
      "count": null,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": null,
      "count": 0
    },
    "investment_companies": {
      "raum": 120396268.0,
      "count": 2
    },
    "pension_profit_sharing": {
      "raum": 827428772.0,
      "count": 37
    },
    "other_investment_advisers": {
      "raum": null,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 349933893.0,
      "count": 116
    },
    "pooled_investment_vehicles": {
      "raum": 37638039.0,
      "count": 2
    },
    "corporations_other_businesses": {
      "raum": null,
      "count": 0
    },
    "business_development_companies": {
      "raum": null,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": null,
      "count": 0
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "educational_seminars",
    "financial_planning",
    "pension_consulting",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "CA",
    "ID",
    "OR",
    "TX",
    "WA"
  ],
  "websites": [
    "https://facebook.com/matissecapital",
    "https://instagram.com/matissecapital",
    "https://linkedin.com/company/matisse-capital",
    "https://matissecap.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/155424",
  "city_as_filed": "PORTLAND",
  "url": "https://advisorcensus.com/firm/matisse-capital-portland-or-155424",
  "display_name": "Matisse Capital",
  "summary": "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.",
  "citation": "AdvisorCensus. Matisse Capital (CRD 155424): 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 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"
  ],
  "quick_answers": [
    {
      "q": "How is Matisse Capital compensated?",
      "a": "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)."
    },
    {
      "q": "What does Matisse Capital's brochure say about its fees?",
      "a": "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."
    },
    {
      "q": "Where is Matisse Capital located?",
      "a": "Matisse Capital's principal office is in Portland, OR, according to its Form ADV."
    },
    {
      "q": "Is Matisse Capital registered with the SEC or a state?",
      "a": "Matisse Capital is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 155424."
    },
    {
      "q": "How much does Matisse Capital manage?",
      "a": "Matisse Capital reports $1,626,629,400 in regulatory assets under management in its Form ADV filing dated September 18, 2026 (52% discretionary)."
    },
    {
      "q": "How have Matisse Capital's assets and staff changed since 2021?",
      "a": "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."
    },
    {
      "q": "What types of clients does Matisse Capital serve?",
      "a": "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)."
    },
    {
      "q": "Which custodians does Matisse Capital use?",
      "a": "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."
    },
    {
      "q": "Does Matisse Capital 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/155424"
    },
    {
      "q": "Does Matisse Capital state an account minimum?",
      "a": "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.\""
    },
    {
      "q": "What changed in Matisse Capital's recent Form ADV filings?",
      "a": "In the October 2026 filing data: Registered or notice-filed in TX."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 1513849807.0,
      "total_employees": 9,
      "filing_date": "2021-06-29"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1602501027.0,
      "total_employees": 10,
      "filing_date": "2022-07-13"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 1110540408.0,
      "total_employees": 10,
      "filing_date": "2023-07-12"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1356007202.0,
      "total_employees": 10,
      "filing_date": "2024-08-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1501860305.0,
      "total_employees": 12,
      "filing_date": "2025-06-30"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1626629400.0,
      "total_employees": 11,
      "filing_date": "2026-09-18"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-10-01",
      "period_label": "October 2026",
      "notes": [
        "Registered or notice-filed in TX."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 9 to 10."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 20, 2026",
    "tiers": [],
    "flat_rate": "1% of assets a year",
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 1% of assets a year"
        ],
        "quotes": [
          "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."
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "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."
        ]
      }
    ],
    "quotes": [
      "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.",
      "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."
    ],
    "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
    },
    {
      "name": "Vanguard Fiduciary Trust Company",
      "name_as_filed": "VANGUARD FIDUCIARY TRUST COMPANY",
      "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/matisse-capital-portland-or-155424.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 191,
      "fewer_than_5": false,
      "raum": 67330897.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 116,
      "fewer_than_5": false,
      "raum": 349933893.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 2,
      "fewer_than_5": false,
      "raum": 120396268.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 2,
      "fewer_than_5": false,
      "raum": 37638039.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 37,
      "fewer_than_5": false,
      "raum": 827428772.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 10,
      "fewer_than_5": false,
      "raum": 165028273.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": null,
      "fewer_than_5": true,
      "raum": 58873258.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    }
  ],
  "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/155424",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}