FIRM DESCRIPTION
Beacon Capital Management, LLC, (“Beacon” or the “Firm”) is a Limited Liability Company organized
as a Tennessee limited liability company that was founded in 2005. The Firm became a United States
Securities and Exchange Commission (“SEC”) Registered Investment Adviser Firm in September 2015.
The principal owners of the Firm are Jonathan S. Maxson and Cameron “Pete” Benson.
TYPES OF ADVISORY SERVICES
Beacon is a wealth management firm that provides discretionary and non-discretionary investment
management services. As a discretionary adviser, Beacon will be granted full discretion and authority to
manage client accounts. Our services are tailored to meet a client’s individual investment objectives and
guidelines, as well as any client investment restrictions or limitations, which will be documented in the
client profile. Beacon uses questions, review of current holdings, goals and objectives to better understand
each client’s investment profile, including the client’s risk tolerance, time horizon and investment needs.
A review cadence will be established with the client based on these factors. No less than annually, Beacon
will review client information to ensure that each client’s investment profile is up-to-date and accurate.
As a Non-Discretionary advisor, it allows us to perform trades on your behalf when directed by you to do
so through the use of an investment plan agreed upon by you. These accounts will not be actively
managed or monitored, and we will not make recommendations on the strategy for these accounts.
Transactions made in these account(s) may not be able to be aggregated with other client’s orders under
this type of authority and therefore you may not receive the same price as clients who receive
discretionary advisory services.
The Firm provides ongoing services to individuals, high net-worth individuals, families and businesses.
We tailor our advisory services to individual client needs. We offer portfolio management, third party
money manager, financial planning, retirement plan consulting, strategic planning, investment policy
development services and coordinate with other advisers, and financial professionals as necessary to meet
each the client’s needs.
Clients who impose investment restrictions or limitations might affect their account’s performance and
limit Beacon’s ability to employ various investment strategies. This may result in investment performance
that differs from that of a benchmark or other client accounts utilizing the same or similar investment
strategy. Depending upon a client’s investment profile and investment needs, Beacon may recommend the
use of an independent third-party money manager to manage a portion of the client’s assets.
a) Portfolio Management Services
Prior to allocating a client’s assets, Beacon will perform an evaluation of the client’s current holdings
known as a retirement analysis or planning analysis. Using this assessment and reviewing the client’s risk
tolerance, time horizon, investment objectives and goals, the Firm will provide investment
recommendations based on the client’s specific investment profile. For discretionary advisory clients,
Beacon requires that a written Investment Management Agreement (“Agreement”) be signed by the
client prior to the engagement of services. The Agreement outlines the services rendered by Beacon and
the fees that the client will be charged.
The Agreement grants Beacon written authority to deduct fees from client custodial account(s). Clients
are advised to promptly notify Beacon if there are any material changes in their financial situations,
including investment objectives, or in the event they wish to alter any guidelines.
The Agreement authorizes Beacon to perform various functions, at the client’s expense, without further
approval from the client. Such functions include the determination of securities to be purchased or sold.
Once a client’s portfolio is constructed, Beacon will provide continuous supervision and rebalancing of
the client’s portfolio. If there are changes in the client’s circumstances, upon notification, Beacon may
recommend changes or rebalancing if required. Beacon will have discretionary authority, to manage
advisory accounts and will not obtain approval prior to placing trades on behalf of a client’s account(s).
The Agreement will continue until you notify us otherwise in writing.
The Firm may allocate a portion of a client’s assets to be managed by an independent 3rd party manager to
provide portfolio management services on behalf of Firm clients. The Firm will be responsible for the
payment of any advisory fee or other charges of a 3rd party manager with respect to the managed assets at
no additional charge to the client as defined in the Agreement between the Firm and client, unless or
except as specifically authorized in advance by the client. The Firm will be responsible for monitoring all
aspects of investment performance of the 3rd party manager and based on their performance, may
terminate the relationship with the 3rd party manager or to add a new 3rd party manager, without specific
client consent.
If clients elect to enter into a separate advisory agreement with this 3rd Party Advisor, they will receive a
separate firm brochure based on the requirements of Form ADV Parts 2A, 2B and 3, for each 3rd Party
Advisor. Clients are encouraged to obtain and carefully review the contracts and disclosure documents,
including the 3rd Party Advisor brochure, whose services are to be engaged so they understand fully the
services being provided and the fees being charged. The services, reports and contract termination
provisions provided by these programs vary as do the costs. The Firm encourages our clients to compare
programs and discuss any questions they may have with their IAR before investing.
The Firm continues to monitor the 3rd Party Advisors on behalf of these legacy client accounts, to ensure
their investment objectives are being followed. If the Firm identifies the 3rd Party Advisor is not following
the client’s investment objectives, the Firm may recommend the client to terminate its relationship with
the 3rd Party Advisor. When the Firm recommended these 3rd Party Advisor to its clients to enter into a
separate advisory agreement(s), they were under no obligation to use the 3rd Party Advisor
For non-discretionary services, Beacon also requires that a written non-discretionary agreement be signed
by the client prior to the engagement of services. When Beacon engages a client on a nondiscretionary
basis, it allows us to perform trades on your behalf when directed to do so through the use of an
investment plan agreed upon by you. These accounts will not be actively managed or monitored, and we
will not make recommendations on the strategy for these accounts. Transactions made in these account(s)
may not be able to be aggregated with other client’s orders under this type of authority and therefore you
may not receive the same price as other clients.
b) Financial Planning and Consulting Services
Beacon offers financial planning and consulting on investment-related matters in conjunction with its
portfolio management services. These services may address areas such as Investment Planning,
Retirement Planning, Insurance Planning, Tax Planning, Education Planning, Portfolios Review, Asset
Allocation, and Real Estate Planning. Beacon charges a flat fee for financial planning and consulting
services when no asset management services are provided. The applicable fee will
be based upon the
scope and complexity of the engagement. In the event the client elects to retain Beacon to provide asset
management services at the same time the client obtains financial planning and consulting services, the
client will not be billed for the financial planning services. Under certain circumstances the Firm may
provide free planning services to individuals. Clients are responsible for determining whether or not to
implement a recommendation and if they decide to do so, are responsible for implementation and ongoing
monitoring if they do not enter into an Agreement with the Firm.
c) Benefit Plan Services/Corporate Retirement Planning
Beacon provides investment advisory services and consulting services to employer sponsored retirement
plans, including 401(k) and profit-sharing plans (“Plans”), and plan sponsors (“Plan Sponsors”) subject
to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). These services may
include:
• Retirement plan design and communications;
• Retirement plan services provider due diligence;
• Retirement plan investment advisory services including: investment analysis, selection,
implementation, and ongoing monitoring of plan investments; and
• Participant educational services and retirement education.
Beacon may also provide additional types of administrative services to Plans on an individually
negotiated hourly basis. All services, whether discussed above or customized for the Plan will be detailed
in the written agreement with the Plan Client.
The Firm’s goal is to establish a thorough investment due diligence process that is employed in the
selection and ongoing monitoring of investment options and is compliant with applicable fiduciary
obligations and the client’s investment policy statement. The appropriate Plan Fiduciary(ies) designated
in the Plan documents (e.g. the Plan sponsor or named fiduciary) will (i) make the decision to retain our
firm; (ii) agree to the scope of the services that we will provide; and (iii) make the ultimate decision as to
accepting any of the recommendations that we may provide. The Plan Fiduciaries are free to seek
independent advice about the appropriateness of any recommended services for the Plan. Retirement Plan
consulting services may be offered individually or as part of a comprehensive suite of services.
ERISA sets forth rules under which Plan Fiduciaries may retain investment advisers for various types of
services with respect to Plan assets. For certain services, Beacon will be considered a fiduciary under
ERISA. For example, Beacon will act as an ERISA §3(21) fiduciary when providing non-discretionary
investment advice to the Plan Fiduciaries by recommending a suite of investments as choices among
which Plan Participants may select. Also, to the extent that the Plan Fiduciaries retain Beacon to act as an
investment manager within the meaning of ERISA §3(38), Beacon will provide discretionary investment
management services to the Plan. With respect to any account for which Beacon meets the definition of a
fiduciary under Department of Labor rules, Beacon acknowledges that both Beacon and its Related
Persons are acting as fiduciaries. Additional disclosure may be found elsewhere in this Brochure or in the
written agreement between Beacon and client.
Beacon may be engaged to provide one or more of the following services for Corporate Retirement Plans:
• Investment Selection. The Firm may provide recommendations regarding the investment
options to be made available under the Plan along with a relevant benchmark
recommendation. The Firm shall be responsible for the ongoing monitoring of the Plan’s
investment options and will report at least annually to the Plan Sponsor on performance and
provide an analysis of the recommended investment options.
• Participant Services. The Firm may provide advisory services to Plan participants
(“Participants”). Each Participant shall be responsible for deciding whether, or to what
extent, to use the Participant Services. The Plan Sponsor shall be responsible for providing
Participants with information regarding the availability of the Participant Services.
Participant Services may include a recommendation regarding investment selections based
upon an analysis of the Participant’s individual investment objectives. Upon request, the Firm
will facilitate group enrollment meetings to assist with the implementation of a Plan. The
Firm’s management of any assets outside a Participant’s Plan account is not included as a
part of the Participant Services provided and will be covered under a separate agreement.
• Assistance with Oversight of Service Providers. The Firm will provide assistance to the
Plan Sponsor regarding the selection and monitoring of service providers to the Plan.
• Education and Sponsor Consulting Services. The Firm will assist the Plan Sponsor and
Plan Trustees in meeting their fiduciary duties to administer the Plan in the best interests of
the Plan Participants and their beneficiaries. The Firm may offer periodic education and
consultation to the Plan Sponsors.
d) Supplemental Insurance Planning and Consulting Services
Representatives of the Firm may provide supplemental insurance planning or consulting services on a
complementary basis through an affiliated entity of the Firm, Beacon Insurance & Life, LLC (“Beacon
Insurance”).
Your representative in his or her separate capacity as an insurance agent of Beacon Insurance, may
suggest clients to purchase disability insurance, life insurance, annuities, or other insurance products. If a
client elects to implement the purchase of an insurance product recommended by its representative,
Beacon Insurance receives commission and other compensation fee (“Insurance Fees”), in which your
representative may receive a portion of such Insurance Fees in its capacity as an insurance agent.
Insurance commissions are paid to Beacon Insurance and then paid to the agent. This receipt of Insurance
Fees creates an incentive for your representative to recommend those insurance products for which your
representative may receive a portion of the Insurance Fees in his or her separate capacity as an insurance
agent, rather than on a client’s needs. Consequently, the advice rendered to clients could be biased.
Clients are under no obligation to implement any insurance or annuity transaction through Beacon
Insurance.
e) Educational Seminars/Workshops/TV and Radio Episodes
The Firm occasionally provides seminars/workshops or produce TV and/or radio episodes in areas
such as financial planning, retirement planning, estate planning, college planning and charitable
planning or other relevant financial topics. These educational seminars/workshops and TV/Radio
episodes are always offered on an impersonal basis and do not focus on the individual needs of
participants or listeners. No fees are charged for seminars/workshops.
f) Wrap Fee Programs
Beacon Capital Management is not a sponsor of and does not participate in any Wrap Fee Programs.
ASSETS UNDER MANAGEMENT
When calculating regulatory assets under management, an investment adviser must include the value of
any securities portfolios over which it exercises continuous and regular supervisory or management
services. The following are the amount of assets under management as of as of December 31, 2023.
Discretionary Assets Non-Discretionary Assets Total Assets
$ 802,655,414.05 $ 56,543,377.60 $ 859,198,791.65