We believe that regulation of the securities industry is vital to preserving the confidence of investors and we take very seriously the requirement to comply with all federal and state regulations.

New Capital’s primary regulator is the United States Securities & Exchange Commission, and the main law that regulates our company is the Investment Advisors Act of 1940. Under this law, we are among other things required to file and maintain publicly available information with the SEC, and to serve as a fiduciary to our clients, serving them with undivided loyalty. At the Securities and Exchange Commission's website, you will find data on New Capital Management LP on file as SEC registrant #131658. The major regulatory document for client reference is called Form ADV Part II. New Capital is required to provide this document annually to all clients.

Another important requirement for registered investment advisors is to maintain an extensive set of operating policies and procedures. New Capital’s policies and procedures manual is updated annually, and all employees are required to attend meetings to review this document in depth.

As of June 30, 2020, the Securities and Exchange Commission (SEC) now requires all Investment Advisers and broker-dealers to release a new form, Form CRS, a "relationship summary" written in plain language and intended to enhance investor protections by providing important information regarding our services, fees, and potential conflicts of interest.  

Hiring a financial advisor – whether an independent advisor, stockbroker, trust company, wealth manager, etc. - is a very serious step for anyone. Given the seriousness of this relationship, New Capital serves its clients under the highest standard of care that exists in the financial services industry: the fiduciary standard. This standard is characterized by three important principles:

1. The fiduciary places the beneficiary’s interests first.

2. The fiduciary prudently manages the beneficiary’s affairs.

3. The fiduciary eliminates or discloses potential or real conflicts of interest.

Investors everywhere are now learning of the importance of the fiduciary standard. From the beginning, New Capital has served as a fiduciary, and always will.

• Chartered Financial Analyst (CFA) represents investment capabilities in various areas including stocks, bonds, real estate, derivatives and options, and is viewed around the world as the most prestigious certification in the investment industry. New Capital has one CFA charter holder on staff.

• Certified Financial Planner (CFP) represents capabilities in personal financial planning including investments, insurance, and estates. New Capital has one CFP Certificant on staff.

• Financial Therapy Association (FTA) - Financial therapy is a process informed by both therapeutic and financial competencies that helps people think, feel, and behave differently with money to improve overall well-being through evidence-based practices and interventions. Financial therapists help people reach their financial goals by addressing financial challenges and attending to the related emotional, psychological, behavioral, and relational hurdles that are intertwined. Leonard Golub became a member of the FTA in 2018.

New Capital Management operates with a Code of Ethics that all personnel must sign, maintain a copy at their desk, and adhere to. At our firm, this code is read each year in its entirety and updated as needed.

Additionally, professional certifications and associations, such as the CFA Institute, maintain their own Code of Ethics and Standards of Professional Behavior for their members. As a result, New Capital personnel may be subject to multiple Codes of Ethics.

We believe that a Code of Ethics is not just a document, but an active code for governing and enforcing the consistent behavior of our personnel and for helping to assure our clients that we put their interests first.

The Securities & Exchange Commission requires that we provide our clients and prospective clients with a Privacy Policy regarding their confidential information and data. New Capital does not divulge anyone’s information under any circumstances unless required by a court of law or by our regulators. Even then, we make every effort to retain our clients’ privacy wherever and whenever possible.

New Capital does not divulge our client roster to anyone, and we do not discuss that anyone has met with us. Our internal standards for confidentiality are as strict as those of an attorney, physician, or therapist.

The Securities & Exchange Commission requires that we provide our clients and prospective clients with a Privacy Policy regarding their confidential information and data. New Capital does not divulge anyone’s information under any circumstances unless required by a court of law or by our regulators. Even then, we make every effort to retain our clients’ privacy wherever and whenever possible.

New Capital does not divulge our client roster to anyone, and we do not discuss that anyone has met with us. Our internal standards for confidentiality are as strict as those of an attorney, physician, or therapist.

As a financial advisory firm, we recognize that we are increasingly in the business of both helping protect client data and helping clients protect their own data. We take both of these obligations with the utmost seriousness and attention.

We help protect client data by maintaining strict internal data security policies, and by relying on third party information technology providers that demonstrate best practices.

We help clients protect their own data by becoming technology “mentors” to our clients and assisting them in many aspects of their technology activities including password maintenance, virus and security maintenance, program maintenance, and more. We regularly assist clients who discover that they have been the victims of credit card fraud, email hacking, or password theft.