ABOUT US

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

New Capital’s primary regulator is the United States Securities & Exchange Commission (SEC), and the main law that governs our firm is the Investment Advisors Act of 1940. Under this law, we are required to file and maintain publicly available information with the SEC and to serve as a fiduciary to our clients, acting with undivided loyalty. At the SEC’s website, you can find information on New Capital Management LP, listed as SEC registrant #131658. The primary regulatory document for client reference is Form ADV Part II, which we are required to provide to all clients annually.

Another key requirement for registered investment advisors is to maintain a comprehensive set of operating policies and procedures. New Capital’s manual is updated annually, and all employees attend regular meetings to review it in detail.

• View Form ADV Part 2

As of June 30, 2020, the Securities and Exchange Commission (SEC) requires all investment advisers and broker-dealers to provide Form CRS, a "relationship summary" written in plain language. This form is designed to enhance investor protections by outlining key information about our services, fees, and potential conflicts of interest.

• View Form CRS

Hiring a financial advisor—whether an independent advisor, stockbroker, trust company, or wealth manager—is an important decision. Because of the significance of this relationship, New Capital serves its clients under the fiduciary standard, the highest level of care in the financial services industry. This standard is defined by three key principles:

• Putting the client’s interests first

• Managing the client’s affairs prudently

• Eliminating or disclosing any conflicts of interest

Investors are increasingly recognizing the importance of the fiduciary standard. New Capital has embraced this standard from the start—and always will.

New Capital Management operates under a Code of Ethics that all personnel must sign, keep at their desk, and follow. Each year, the code is read in full and updated as needed.

In addition, professional certifications and associations—such as the CFA Institute—have their own Code of Ethics and Standards of Professional Conduct, which apply to their members. As a result, some New Capital personnel may follow multiple codes.

We believe a Code of Ethics is more than a document—it is an active guide for consistent conduct and a commitment to always put our clients’ interests first.

• View our Code of Ethics

The Securities & Exchange Commission (SEC) 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 protect our clients’ privacy wherever and whenever possible.

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

• View our Privacy Policy (2025)

• View our Communications Terms of Service

As a financial advisory firm, we understand that we are not only responsible for protecting client data, but also for helping clients protect their own. We take both responsibilities seriously and approach them with great care.

We safeguard client data through strict internal security policies and by partnering with trusted third-party IT providers who follow industry best practices.

We also support clients as technology mentors, assisting with password management, security updates, software maintenance, and more. We frequently help clients who have experienced credit card fraud, email hacking, or password theft, guiding them through steps to restore and protect their information.