{
  "crd_number": 158720,
  "slug": "red-spruce-capital-llc-berwyn-pa-158720",
  "primary_business_name": "RED SPRUCE CAPITAL, LLC",
  "legal_name": "RED SPRUCE CAPITAL, LLC",
  "dbas": [],
  "city": "Berwyn",
  "state": "PA",
  "country": "United States",
  "cbsa_code": "37980",
  "metro": {
    "cbsa_code": "37980",
    "common_name": "Philadelphia",
    "msa_name": "Philadelphia-Camden-Wilmington, PA-NJ-DE-MD",
    "path": "/advisors/pa/philadelphia"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2018-09-14",
  "years_registered": 8,
  "period": "2026-10-01",
  "filing_date": "2026-02-20",
  "carried_forward": false,
  "raum_total": 256905735.0,
  "raum_discretionary": 256905735.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 4,
  "advisory_employees": 4,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 99421.0,
      "count": null,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 26348541.0,
      "count": 79
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 230457773.0,
      "count": 64
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 0.0,
      "count": 0
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "CA",
    "DE",
    "FL",
    "MD",
    "MI",
    "NJ",
    "NY",
    "OR",
    "PA",
    "TX",
    "VA"
  ],
  "websites": [
    "https://facebook.com/REDSPRUCECAPITAL",
    "https://linkedin.com/company/red-spruce-capital",
    "https://redsprucecapital.com",
    "https://twitter.com/REDSPRUCECAP"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/158720",
  "city_as_filed": "BERWYN",
  "url": "https://advisorcensus.com/firm/red-spruce-capital-llc-berwyn-pa-158720",
  "display_name": "Red Spruce Capital, LLC",
  "summary": "Red Spruce Capital, LLC is an SEC-registered investment advisory firm in Berwyn, PA, registered since 2018, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated February 20, 2026.",
  "citation": "AdvisorCensus. Red Spruce Capital, LLC (CRD 158720): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses"
  ],
  "quick_answers": [
    {
      "q": "How is Red Spruce Capital, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Red Spruce Capital, LLC reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "How much does Red Spruce Capital, LLC charge?",
      "a": "Its Form ADV Part 2A brochure dated January 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 Red Spruce Capital, LLC located?",
      "a": "Red Spruce Capital, LLC's principal office is in Berwyn, PA, according to its Form ADV."
    },
    {
      "q": "Is Red Spruce Capital, LLC registered with the SEC or a state?",
      "a": "Red Spruce Capital, LLC is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 158720."
    },
    {
      "q": "How much does Red Spruce Capital, LLC manage?",
      "a": "Red Spruce Capital, LLC reports $256,905,735 in regulatory assets under management in its Form ADV filing dated February 20, 2026 (100% discretionary)."
    },
    {
      "q": "How have Red Spruce Capital, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Red Spruce Capital, LLC: Regulatory assets under management: $150,149,460 in the October 2021 data and $256,905,735 in the October 2026 data, up 71%. Total employees: 4 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Red Spruce Capital, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (79); high net worth individuals (64)."
    },
    {
      "q": "Which custodians does Red Spruce Capital, LLC use?",
      "a": "Red Spruce Capital, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Altruist Financial LLC as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Red Spruce Capital, 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/158720"
    },
    {
      "q": "Does Red Spruce Capital, LLC state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated January 20, 2026 says: \"Red Spruce generally does not impose a minimum account size for establishing a relationship.\""
    },
    {
      "q": "What changed in Red Spruce Capital, LLC's recent Form ADV filings?",
      "a": "In the March 2026 filing data: Registered or notice-filed in MD."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 150149460.0,
      "total_employees": 4,
      "filing_date": "2021-09-15"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 190569384.0,
      "total_employees": 4,
      "filing_date": "2022-06-30"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 167530767.0,
      "total_employees": 4,
      "filing_date": "2023-09-06"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 200695548.0,
      "total_employees": 4,
      "filing_date": "2024-01-16"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 231780377.0,
      "total_employees": 4,
      "filing_date": "2025-02-10"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 256905735.0,
      "total_employees": 4,
      "filing_date": "2026-02-20"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-03-01",
      "period_label": "March 2026",
      "notes": [
        "Registered or notice-filed in MD."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Regulatory assets under management went from $231,780,377 to $256,905,735 (+11%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated January 20, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": "1% of assets a year",
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "None",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 1% of assets a year"
        ],
        "quotes": [
          "The Investment Advisory Fee for Portfolio Management Services is 1.00% per annum. Fees may be negotiable at the sole discretion of the Advisor based on the relationship of the client with the investment adviser representative."
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: None"
        ],
        "quotes": [
          "Red Spruce generally does not impose a minimum account size for establishing a relationship."
        ]
      }
    ],
    "values": {
      "tiers": [
        {
          "min": null,
          "max": null,
          "rate_pct": 1.0
        }
      ],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 0.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "The Investment Advisory Fee for Portfolio Management Services is 1.00% per annum. Fees may be negotiable at the sole discretion of the Advisor based on the relationship of the client with the investment adviser representative.",
      "Red Spruce generally does not impose a minimum account size for establishing a relationship."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Altruist Financial LLC",
      "name_as_filed": "ALTRUIST FINANCIAL 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/red-spruce-capital-llc-berwyn-pa-158720.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 79,
      "fewer_than_5": false,
      "raum": 26348541.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 64,
      "fewer_than_5": false,
      "raum": 230457773.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": null,
      "fewer_than_5": true,
      "raum": 99421.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "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/158720",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}