Carmel Capital Management L.L.C.
Registered investment adviser · Carmel, CA · CRD #120675
Form ADV data as of 2026-09-01Regulatory assets
$392.0 million
Total accounts
109
Employees
6
Disclosure events
4
Firm details
- Website: https://www.carmelcapital.com/
- Telephone: 831-625-1375
- SEC file number: 801-61225
- Most recent Form ADV filing: 2026-02-27
- SEC record: View this firm on the SEC's IAPD site
Disciplinary disclosures
This firm reports 4 disclosure questions answered Yes, covering 4 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.
- SEC or CFTC found a violation of its regulations or statutes
- SEC or CFTC entered an order in connection with investment-related activity
- SEC or CFTC imposed a civil money penalty or a cease-and-desist order
- Another regulator found a violation of investment-related regulations or statutes
Assets and accounts
| Provides continuous and regular supervisory or management services | Yes |
| Discretionary regulatory assets under management | $392.0 million |
| Non-discretionary regulatory assets under management | $0 |
| Total regulatory assets under management | $392.0 million |
| Discretionary accounts | 109 |
| Non-discretionary accounts | 0 |
| Total accounts | 109 |
| Regulatory assets under management attributable to non-U.S. persons | $3.7 million |
People
| Total employees (excluding clerical) | 6 |
| Employees performing investment advisory functions (including research) | 6 |
| Employees who are registered representatives of a broker-dealer | 0 |
| Employees registered as investment adviser representatives with a state | 0 |
| Employees registered as IARs for another investment adviser | 0 |
| Employees who are licensed insurance agents | 0 |
| Firms or persons who solicit advisory clients on the firm's behalf | 0 |
Custody
| Has custody of client cash or bank accounts | Yes |
| Has custody of client securities | No |
| Client funds and securities held in the firm's custody | $18.1 million |
| Clients for whom the firm has custody | 3 |
| A related person has custody of client cash or bank accounts | No |
| A related person has custody of client securities | No |
| The firm acts as a qualified custodian | No |
| A related person acts as a qualified custodian | No |
| Number of persons acting as qualified custodians for the firm's clients | 1 |
How the firm is compensated
Advisory services offered
Reported conflicts of interest
Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:
- Buys or sells for itself securities it also recommends to clients
- Recommends brokers or dealers to clients
- Receives soft dollar benefits
Client types
| Type of client | Clients | Assets |
|---|---|---|
| Individuals (other than high net worth individuals) | Not reported | $298,000 |
| High net worth individuals | 102 | $380.8 million |
| Pension and profit sharing plans (not the participants or government plans) | Not reported | $10.6 million |
| Charitable organizations | Not reported | $263,000 |