{
  "crd_number": 110793,
  "slug": "next-capital-management-llc-new-york-ny-110793",
  "primary_business_name": "NEXT CAPITAL MANAGEMENT LLC",
  "legal_name": "NEXT CAPITAL MANAGEMENT LLC",
  "dbas": [
    "NEXT CAPITAL"
  ],
  "city": "New York",
  "state": "NY",
  "country": "United States",
  "cbsa_code": "35620",
  "metro": {
    "cbsa_code": "35620",
    "common_name": "New York",
    "msa_name": "New York-Newark-Jersey City, NY-NJ",
    "path": "/advisors/ny/new-york"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1999-03-24",
  "years_registered": 27,
  "period": "2026-10-01",
  "filing_date": "2026-01-31",
  "carried_forward": false,
  "raum_total": 2135481487.0,
  "raum_discretionary": 1605388056.0,
  "raum_non_discretionary": 530093431.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 23,
  "advisory_employees": 9,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 23172575.0,
      "count": 30
    },
    "individuals": {
      "raum": 40932650.0,
      "count": 76
    },
    "insurance_companies": {
      "raum": 251835.0,
      "count": null,
      "fewer_than_5": true
    },
    "pension_profit_sharing": {
      "raum": 2587109.0,
      "count": null,
      "fewer_than_5": true
    },
    "high_net_worth_individuals": {
      "raum": 1656527130.0,
      "count": 181
    },
    "corporations_other_businesses": {
      "raum": 412010188.0,
      "count": 33
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "CA",
    "CO",
    "CT",
    "DE",
    "FL",
    "IL",
    "LA",
    "MA",
    "MD",
    "NJ",
    "NY",
    "PA",
    "TX",
    "VA"
  ],
  "websites": [
    "https://linkedin.com/company/next-capital-management/about",
    "https://linkedin.com/company/nextvantage/posts?feedView=all",
    "https://next-vantage.com",
    "https://nextcapitalmgmt.com",
    "https://youtube.com/watch?v=ZqISFjq4e8I"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/110793",
  "city_as_filed": "NEW YORK",
  "url": "https://advisorcensus.com/firm/next-capital-management-llc-new-york-ny-110793",
  "display_name": "Next Capital Management LLC",
  "summary": "Next Capital Management LLC is an SEC-registered investment advisory firm in New York, NY, registered since 1999, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated January 31, 2026.",
  "citation": "AdvisorCensus. Next Capital Management LLC (CRD 110793): 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 businesses (other than small businesses) or institutional clients",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Next Capital Management LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Next Capital Management LLC 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."
    },
    {
      "q": "Where is Next Capital Management LLC located?",
      "a": "Next Capital Management LLC's principal office is in New York, NY, according to its Form ADV."
    },
    {
      "q": "Is Next Capital Management LLC registered with the SEC or a state?",
      "a": "Next Capital Management LLC is an SEC-registered investment advisory firm, registered since 1999. Status as filed: Approved. CRD 110793."
    },
    {
      "q": "How much does Next Capital Management LLC manage?",
      "a": "Next Capital Management LLC reports $2,135,481,487 in regulatory assets under management in its Form ADV filing dated January 31, 2026 (75% discretionary)."
    },
    {
      "q": "How have Next Capital Management LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Next Capital Management LLC: Regulatory assets under management: $987,714,759 in the October 2021 data and $2,135,481,487 in the October 2026 data, up 116%. Total employees: 15 in October 2021 and 23 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Next Capital Management LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (181); individuals (other than high net worth individuals) (76); corporations or other businesses not listed above (33)."
    },
    {
      "q": "Which custodians does Next Capital Management LLC use?",
      "a": "Next Capital Management LLC'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."
    },
    {
      "q": "Does Next 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/110793"
    },
    {
      "q": "What changed in Next Capital Management LLC's recent Form ADV filings?",
      "a": "In the February 2026 filing data: Regulatory assets under management went from $1,784,921,125 to $2,135,481,487 (+20%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 987714759.0,
      "total_employees": 15,
      "filing_date": "2021-04-20"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1291387559.0,
      "total_employees": 15,
      "filing_date": "2022-09-26"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 1160723496.0,
      "total_employees": 17,
      "filing_date": "2023-09-18"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1443202614.0,
      "total_employees": 20,
      "filing_date": "2024-04-17"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1784921125.0,
      "total_employees": 20,
      "filing_date": "2025-04-02"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 2135481487.0,
      "total_employees": 23,
      "filing_date": "2026-01-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Regulatory assets under management went from $1,784,921,125 to $2,135,481,487 (+20%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "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/next-capital-management-llc-new-york-ny-110793.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 76,
      "fewer_than_5": false,
      "raum": 40932650.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 181,
      "fewer_than_5": false,
      "raum": 1656527130.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": null,
      "fewer_than_5": true,
      "raum": 2587109.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 30,
      "fewer_than_5": false,
      "raum": 23172575.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": null,
      "fewer_than_5": true,
      "raum": 251835.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 33,
      "fewer_than_5": false,
      "raum": 412010188.0
    }
  ],
  "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/110793",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}