# RCL Capital Management

> RCL Capital Management is a state-registered investment advisory firm, registered since 1997, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated August 25, 2026.

- CRD: 121342
- Filed as: RCL CAPITAL MANAGEMENT
- Legal name: Ronald Curtis Leonard
- Registration: State-registered investment adviser (status as filed: APPROVED)
- Location: Registered in Pennsylvania
- Filing period: October 2026
- Form ADV filing dated: August 25, 2026
- Public record (IAPD): https://adviserinfo.sec.gov/firm/summary/121342
- AdvisorCensus page: https://advisorcensus.com/firm/rcl-capital-management-121342

## Quick answers

**How is RCL Capital Management compensated?**
On its Form ADV (Item 5.E, October 2026), RCL Capital Management reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Is RCL Capital Management registered with the SEC or a state?**
RCL Capital Management is a state-registered investment advisory firm, registered since 1997. Status as filed: APPROVED. CRD 121342.

**How much does RCL Capital Management manage?**
RCL Capital Management reports $38,400,000 in regulatory assets under management in its Form ADV filing dated August 25, 2026 (100% discretionary).

**What types of clients does RCL Capital Management serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (72); high net worth individuals (12).

**Does RCL Capital Management report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's public record on IAPD: https://adviserinfo.sec.gov/firm/summary/121342

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Regulatory assets under management (Item 5.F)
- Total: $38,400,000
- Discretionary: $38,400,000
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 72 | $22,300,000 |
| High net worth individuals | 12 | $16,100,000 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 1997 (29 years)
- Employees: 1 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: PA
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's public record on IAPD: https://adviserinfo.sec.gov/firm/summary/121342

### Websites listed on Form ADV (Item 1.I)
- rclcapital.com
- LinkedIn @ron-leonard-9624b9a

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. RCL Capital Management (CRD 121342): Form ADV filing data as of October 2026.