SEC-registered independent wealth management RIA
Osterweis Capital Management
As of its Form ADV filed March 31, 2026, Osterweis Capital Management, an SEC-registered independent wealth management RIA in San Francisco, California, reported $439.4 million in regulatory assets under management across 35 accounts, ranking #378 among independent RIAs in California by assets.
Registration
- Main office
- San Francisco, CA
- Registration
- SEC-registered, Approved
- CRD number
- 105421
- SEC file number
- 801-18395
- Registered since
- March 3, 1983
- Latest Form ADV filing
- March 31, 2026
- Legal name
- OSTERWEIS CAPITAL MANAGEMENT INC
- Organized as
- Corporation
- Fiscal year ends
- December
- Other offices
- 0
Key figures
- Regulatory assets under management
- $439.4 million
- Discretionary
- $438.8 million (99.9%)
- Non-discretionary
- $587,925
- Accounts
- 35 (33 discretionary)
- Clients
- 34, approximate as reported
- Employees
- 66
- Advisory staff
- 14 performing investment advisory functions
- Average account
- $12.6 million
- Asset growth, 1 year
- -2.9% (from $452.3 million a year earlier)
- Asset growth, 3-year annual rate
- 2.9% (from $403.8 million three years earlier)
- Asset growth, 5-year annual rate
- -2.4% (from $495.8 million five years earlier)
- Client growth, 1 year
- -12.8% (from 39)
Independent wealth management RIA: individual and high net worth clients hold at least half of its regulatory assets, it offers financial planning or portfolio management for individuals, and it is not a broker-dealer, a bank or part of one by the directory's rules. How firms are classed.
Growth rates come from the SEC's yearly snapshots and are left blank when the years are not comparable.
Rankings
Among independent wealth management RIAs.
| Ranking | Nationally | In California | Value |
|---|---|---|---|
| Largest independent RIAs by assets under management | #2,897 | #378 | $439.4 million |
| Fastest-growing independent RIAs over one year | #6,461 | #849 | -2.9%from $452.3 million |
| Fastest-growing independent RIAs over three years | #5,114 | #683 | 2.9%from $403.8 million |
| Fastest-growing independent RIAs over five years | #4,519 | #607 | -2.4%from $495.8 million |
| Independent RIAs with the most clients | #13,909 | #1,807 | 34 |
| Independent RIAs with the most accounts | #14,893 | #1,953 | 35 |
| Independent RIAs with the most advisory staff | #722 | #76 | 14 |
| Independent RIAs with the most high net worth clients | #7,416 | #985 | 33 |
Assets over time
Data table
| As of | RAUM |
|---|---|
| October 1, 2010 | $1.3 billion |
| October 3, 2011 | $1.9 billion |
| October 1, 2012 | $1.3 billion |
| October 1, 2013 | $1.2 billion |
| October 1, 2014 | $1.6 billion |
| October 1, 2015 | $1.6 billion |
| October 3, 2016 | $1.0 billion |
| October 2, 2017 | $723.3 million |
| October 1, 2018 | $536.0 million |
| October 1, 2019 | $373.6 million |
| October 1, 2020 | $437.3 million |
| October 4, 2021 | $495.8 million |
| October 3, 2022 | $445.4 million |
| October 5, 2023 | $403.8 million |
| October 1, 2024 | $445.3 million |
| September 2, 2025 | $452.3 million |
| October 2, 2026 | $439.4 million |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| High net worth individuals 33 clients | $275.9 million | |
| Investment companies 1 client | $148.4 million | |
| State or municipal government entities fewer than 5 clients | $15.1 million |
How the firm is paid
- A percentage of assets under management
- Fixed fees
Advisory services
- Financial planning
- Portfolio management for individuals or small businesses
- Portfolio management for investment companies
- Portfolio management for businesses or institutional clients
Financial planning clients (Item 5.H): 26-50.
Wrap fee program sponsor or portfolio manager: no.
Other business, affiliations and custody
Other business activities (Item 6.A)
None reported.
Financial industry affiliations (Item 7.A)
- Other investment adviser
Custody (Item 9)
The firm reported no custody of client cash or securities.
Investment adviser representatives
- IARs registered with the firm
- 0
- Also registered through a broker-dealer
- 0
- Employees who are IARs (Form ADV 5.B(3))
- 0
IAR registrations by jurisdiction are not available for this firm. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 0 disclosure questions. See the detail on IAPD.
Succession and acquired firms
On Form ADV Item 4 the firm did not report succeeding to another adviser's business.
Similar-sized firms in California
| Firm | City | RAUM |
|---|---|---|
| Lifesteps Financial | Claremont | $442.7 million |
| AG Asset Advisory, LLC | Los Angeles | $440.5 million |
| Simplyrich | Carlsbad | $438.9 million |
| Blueprint Investing LLC | San Francisco | $436.3 million |
| Westend Capital Management, LLC. | Sausalito | $436.2 million |
The five independent RIAs nearest in regulatory assets with a main office in the same state.
Elsewhere
- Osterweis Capital Management on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: www.osterweis.com
- Independent RIAs in California
Firm data as of October 2, 2026, from ia100226.zip. Figures are as the firm reported them; corrections are made on Form ADV and appear after the next monthly reload.
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.