{
  "crd_number": 159828,
  "slug": "michaud-capital-management-llc-denver-co-159828",
  "primary_business_name": "MICHAUD CAPITAL MANAGEMENT LLC",
  "legal_name": "MICHAUD CAPITAL MANAGEMENT LLC",
  "dbas": [],
  "city": "Denver",
  "state": "CO",
  "country": "United States",
  "cbsa_code": "19740",
  "metro": {
    "cbsa_code": "19740",
    "common_name": "Denver",
    "msa_name": "Denver-Aurora-Centennial, CO",
    "path": "/advisors/co/denver"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2012-01-06",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-03-30",
  "carried_forward": false,
  "raum_total": 2444281186.0,
  "raum_discretionary": 468629263.0,
  "raum_non_discretionary": 1975651923.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 19,
  "advisory_employees": 6,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 1925668162.0,
      "count": 18,
      "description": "FAMILY OFFICE"
    },
    "charitable": {
      "raum": 91418071.0,
      "count": 2,
      "fewer_than_5": true
    },
    "high_net_worth_individuals": {
      "raum": 427194953.0,
      "count": 12
    }
  },
  "compensation_types": [
    "fixed"
  ],
  "advisory_activities": [
    "other",
    "portfolio_management_individuals",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CO",
    "MA",
    "TX"
  ],
  "websites": [
    "https://linkedin.com/company/15448710",
    "https://michaudcapital.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/159828",
  "city_as_filed": "DENVER",
  "url": "https://advisorcensus.com/firm/michaud-capital-management-llc-denver-co-159828",
  "display_name": "Michaud Capital Management LLC",
  "summary": "Michaud Capital Management LLC is an SEC-registered investment advisory firm in Denver, CO, registered since 2012, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.",
  "citation": "AdvisorCensus. Michaud Capital Management LLC (CRD 159828): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Selection of other advisers (including private fund managers)",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Michaud Capital Management LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Michaud Capital Management LLC reports these compensation arrangements: fixed fees (other than subscription fees)."
    },
    {
      "q": "How much does Michaud Capital Management LLC charge?",
      "a": "Its Form ADV Part 2A brochure dated March 30, 2026 states: Hourly rate: up to $750 an hour (administrative clients and strategic consulting services). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Michaud Capital Management LLC located?",
      "a": "Michaud Capital Management LLC's principal office is in Denver, CO, according to its Form ADV."
    },
    {
      "q": "Is Michaud Capital Management LLC registered with the SEC or a state?",
      "a": "Michaud Capital Management LLC is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 159828."
    },
    {
      "q": "How much does Michaud Capital Management LLC manage?",
      "a": "Michaud Capital Management LLC reports $2,444,281,186 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (19% discretionary)."
    },
    {
      "q": "How have Michaud Capital Management LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Michaud Capital Management LLC: Regulatory assets under management: $1,406,979,587 in the October 2021 data and $2,444,281,186 in the October 2026 data, up 74%. Total employees: 9 in October 2021 and 19 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Michaud Capital Management LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: other (18); high net worth individuals (12); charitable organizations (2)."
    },
    {
      "q": "Which custodians does Michaud Capital Management LLC use?",
      "a": "Michaud Capital Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC and J.P. Morgan Securities LLC as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Michaud Capital Management 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/159828"
    },
    {
      "q": "What changed in Michaud Capital Management LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 5 to 6. Registered or notice-filed in MA."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 1406979587.0,
      "total_employees": 9,
      "filing_date": "2021-03-22"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1667919900.0,
      "total_employees": 11,
      "filing_date": "2022-03-24"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 1815025348.0,
      "total_employees": 15,
      "filing_date": "2023-03-16"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 2075263249.0,
      "total_employees": 16,
      "filing_date": "2024-04-04"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 2448148356.0,
      "total_employees": 17,
      "filing_date": "2025-03-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 2444281186.0,
      "total_employees": 19,
      "filing_date": "2026-03-30"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 5 to 6.",
        "Registered or notice-filed in MA."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 30, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": "$50,000",
    "planning_fees": [
      "Hourly rate: up to $750 an hour (administrative clients and strategic consulting services)"
    ],
    "figures": [
      {
        "label": "Minimum annual fee",
        "statements": [
          "Minimum annual fee: $50,000"
        ],
        "quotes": [
          "As a result, MCM does not have a set fee schedule, but may impose a minimum fixed fee of $50,000 per annum."
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Hourly rate: up to $750 an hour (administrative clients and strategic consulting services)"
        ],
        "quotes": [
          "For administrative clients and strategic consulting services  which are separate from regular consulting services, we may charge a maximum hourly fee of $750."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": 50000.0,
      "planning": [
        {
          "kind": "hourly",
          "amount": null,
          "min": null,
          "max": 750.0,
          "period": "hour",
          "service": "administrative clients and strategic consulting services"
        }
      ]
    },
    "quotes": [
      "As a result, MCM does not have a set fee schedule, but may impose a minimum fixed fee of $50,000 per annum.",
      "For administrative clients and strategic consulting services  which are separate from regular consulting services, we may charge a maximum hourly fee of $750."
    ],
    "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": "Fidelity Brokerage Services LLC",
      "name_as_filed": "FIDELITY BROKERAGE SERVICES LLC",
      "affiliated": false
    },
    {
      "name": "J.P. Morgan Securities LLC",
      "name_as_filed": "J.P. MORGAN SECURITIES 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/michaud-capital-management-llc-denver-co-159828.md",
  "clients": [
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 12,
      "fewer_than_5": false,
      "raum": 427194953.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 2,
      "fewer_than_5": true,
      "raum": 91418071.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 18,
      "fewer_than_5": false,
      "raum": 1925668162.0
    }
  ],
  "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/159828",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}