# Zions Capital Advisors, Inc.

> Zions Capital Advisors, Inc. is an SEC-registered investment advisory firm in Salt Lake City, UT, registered since 2004, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 24, 2026.

- CRD: 131308
- Filed as: ZIONS CAPITAL ADVISORS, INC.
- Also doing business as: CORPORATE INVESTMENTS & LIQUIDITY MANAGEMENT, ZIONS INSTITUTIONAL LIQUIDITY MANAGEMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Salt Lake City, UT
- Filing period: October 2026
- Form ADV filing dated: March 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/131308
- AdvisorCensus page: https://advisorcensus.com/firm/zions-capital-advisors-inc-salt-lake-city-ut-131308

## Quick answers

**How is Zions Capital Advisors, Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), Zions Capital Advisors, Inc. reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).

**What does Zions Capital Advisors, Inc.'s brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 24, 2026 states: Up to $10,000,000: 0.15% a year; $10,000,000.01 to $20,000,000: 0.125% a year; $20,000,000.01 to $40,000,000: 0.1% a year; $40,000,000.01 to $100,000,000: 0.08% a year; Above $100,000,000.01: 0.06% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Zions Capital Advisors, Inc. located?**
Zions Capital Advisors, Inc.'s principal office is in Salt Lake City, UT, according to its Form ADV; the June 2025 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Zions Capital Advisors, Inc. registered with the SEC or a state?**
Zions Capital Advisors, Inc. is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 131308.

**How much does Zions Capital Advisors, Inc. manage?**
Zions Capital Advisors, Inc. reports $830,754,722 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary).

**How have Zions Capital Advisors, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for Zions Capital Advisors, Inc.: Regulatory assets under management: $844,378,713 in the October 2021 data and $830,754,722 in the October 2026 data, down 2%. Total employees: 15 in October 2021 and 14 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Zions Capital Advisors, Inc. serve?**
By number of clients on Form ADV Item 5.D: state or municipal government entities (including government pension plans) (45).

**Which custodians does Zions Capital Advisors, Inc. use?**
Zions Capital Advisors, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Zions Bank (affiliated with the firm) as a custodian holding 10% or more of its separately managed account assets.

**Does Zions Capital Advisors, 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/131308

**What changed in Zions Capital Advisors, Inc.'s recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $1,460,957,454 to $830,754,722 (-43%). No longer lists an office in Conroe, TX. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 24, 2026)

- Up to $10,000,000: 0.15% a year
- $10,000,000.01 to $20,000,000: 0.125% a year
- $20,000,000.01 to $40,000,000: 0.1% a year
- $40,000,000.01 to $100,000,000: 0.08% a year
- Above $100,000,000.01: 0.06% a year

> The annualized fee for Institutional Liquidity Management Services is charged as a percentage of assets under management, according to the following schedule:

> Up to $10 Million 0.150% Over $10 Million and up to $20 Million 0.125% Over $20 Million and up to $40 Million 0.100%

> Over $40 Million and up to $100 Million 0.080% Over $100 Million 0.060%

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Zions Bank (affiliated with the firm)

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: $830,754,722
- Discretionary: $830,754,722
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| State or municipal government entities (including government pension plans) | 45 | $830,754,722 |

### Advisory services (Item 5.G)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2004 (22 years)
- Employees: 14 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CA, CO, ID, NV, OR, TX, UT, WA, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the June 2025 filing
- Conroe, TX

### Websites listed on Form ADV (Item 1.I)
- ilmgmt.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $844,378,713 | 15 | March 5, 2021 |
| October 2022 | $1,212,902,721 | 14 | March 31, 2022 |
| October 2023 | $1,959,976,339 | 17 | February 15, 2023 |
| October 2024 | $1,759,671,621 | 16 | August 15, 2024 |
| October 2025 | $1,460,957,454 | 16 | May 7, 2025 |
| October 2026 | $830,754,722 | 14 | March 24, 2026 |

Regulatory assets under management: $844,378,713 in the October 2021 data and $830,754,722 in the October 2026 data, down 2%.
Total employees: 15 in October 2021 and 14 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $1,460,957,454 to $830,754,722 (-43%).
- No longer lists an office in Conroe, TX.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Zions Capital Advisors, Inc. (CRD 131308): Form ADV filing data as of October 2026.