# NBT Capital Management, Inc.

> NBT Capital Management, Inc. is an SEC-registered investment advisory firm in Norwich, NY, registered since 1987, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 29, 2026.

- CRD: 104932
- Filed as: NBT CAPITAL MANAGEMENT, INC.
- Also doing business as: CLEVELAND HAUSWIRTH INVESTMENT MANAGEMENT, NAVIGATE RETIREMENT SOLUTIONS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Norwich, NY
- Filing period: October 2026
- Form ADV filing dated: September 29, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/104932
- AdvisorCensus page: https://advisorcensus.com/firm/nbt-capital-management-inc-norwich-ny-104932

## Quick answers

**How is NBT Capital Management, Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), NBT Capital Management, Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is NBT Capital Management, Inc. located?**
NBT Capital Management, Inc.'s principal office is in Norwich, NY, according to its Form ADV; the October 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is NBT Capital Management, Inc. registered with the SEC or a state?**
NBT Capital Management, Inc. is an SEC-registered investment advisory firm, registered since 1987. Status as filed: Approved. CRD 104932.

**How much does NBT Capital Management, Inc. manage?**
NBT Capital Management, Inc. reports $1,608,495,723 in regulatory assets under management in its Form ADV filing dated September 29, 2026 (77% discretionary).

**How have NBT Capital Management, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for NBT Capital Management, Inc.: Regulatory assets under management: $1,357,065,791 in the October 2021 data and $1,608,495,723 in the October 2026 data, up 19%. Total employees: 14 in October 2021 and 12 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does NBT Capital Management, Inc. serve?**
By number of clients on Form ADV Item 5.D: pension and profit sharing plans (but not the plan participants or government pension plans) (392); individuals (other than high net worth individuals) (310); high net worth individuals (84).

**Which custodians does NBT Capital Management, Inc. use?**
NBT Capital Management, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does NBT Capital Management, Inc. 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/104932

**What changed in NBT Capital Management, Inc.'s recent Form ADV filings?**
In the October 2026 filing data: Employees performing advisory functions went from 7 to 6. Registered or notice-filed in AZ.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

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.

### Regulatory assets under management (Item 5.F)
- Total: $1,608,495,723
- Discretionary: $1,242,662,913
- Non-discretionary: $365,832,810

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 310 | $99,832,602 |
| High net worth individuals | 84 | $253,604,154 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 392 | $1,255,058,967 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- 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

### Firm details
- Registered since: 1987 (38 years)
- Employees: 12 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, AZ, CA, FL, GA, IA, IL, IN, LA, ME, MO, NC, NH, NY, OH, PA, SC, TN, TX, VA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Milwaukee, WI
- Peoria, IL
- Saratoga Springs, NY

### Websites listed on Form ADV (Item 1.I)
- [clevelandhauswirth.com](https://clevelandhauswirth.com)
- [navigateretirement.com](https://navigateretirement.com)
- [nbtcapm.com](https://nbtcapm.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,357,065,791 | 14 | June 15, 2021 |
| October 2022 | $1,725,466,935 | 17 | April 26, 2022 |
| October 2023 | $1,209,335,725 | 16 | August 10, 2023 |
| October 2024 | $1,324,321,206 | 17 | June 11, 2024 |
| October 2025 | $1,494,546,162 | 15 | June 17, 2025 |
| October 2026 | $1,608,495,723 | 12 | September 29, 2026 |

Regulatory assets under management: $1,357,065,791 in the October 2021 data and $1,608,495,723 in the October 2026 data, up 19%.
Total employees: 14 in October 2021 and 12 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Employees performing advisory functions went from 7 to 6.
- Registered or notice-filed in AZ.

### July 2026
- No longer lists an office in Norwich, NY.

### April 2026
- Employees performing advisory functions went from 4 to 7.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. NBT Capital Management, Inc. (CRD 104932): Form ADV filing data as of October 2026.