Markets Evolve.
Management
Should Too.

Independent active portfolio management designed to adapt beyond static allocation models — focused on disciplined risk management, capital preservation, and long-term compounding through changing market conditions.

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YTD Average
Portfolio Return
14.68%
As of Q1 2026  ·  Updated quarterly
Past performance is not indicative of future results.

All investments involve risk of loss. Returns shown are representative of discretionary managed accounts and are net of advisory fees. Past performance does not guarantee future results.

Our Differentiated Approach

Static Portfolios
Fail Changing
Markets.

Most portfolios are built for conditions that no longer exist. Today’s markets are shaped by shifting interest rates, elevated volatility, and rapid macroeconomic change.

Our framework adapts to those conditions — prioritizing risk discipline, drawdown awareness, and disciplined long-term compounding.

I. Regime Analysis

We evaluate market conditions — volatility, interest rates, and liquidity — to understand the current environment and respond accordingly, rather than remain anchored to static allocation assumptions.

II. Risk Management

Sustained long-term compounding depends on managing the magnitude of drawdowns. We continuously evaluate risk exposure — with disciplined emphasis on limiting downside during periods of elevated uncertainty.

III. Active Oversight

Positions are monitored continuously through an active framework — adjusted as conditions change, not held passively or benchmarked to an index.

The Mathematics

Of Loss.

Losses compound faster than gains.

Risk discipline. Long-term compounding.

Recovering from large drawdowns requires disproportionately higher returns — making risk discipline the foundation of long-term compounding.

Portfolio Value After Loss

Starting at $100

100 75 50 25 0 −10% loss

Interactive Drawdown Calculator

1% loss 75% loss

A 10% loss requires a +11.1% gain to recover.

Portfolio value: $90.00

Recovery Required

Loss Gain to Break Even
−10% +11.1%
−20% +25.0%
−30% +42.9%
−40% +66.7%
−50% +100.0%

A 50% loss requires a full 100% gain to recover a mathematical reality most portfolios never overcome.

For illustrative purposes only. Does not represent investment performance.

Investment Framework

Evidence Over
Assumption.

Zmierski Capital combines macro regime analysis, fundamental research, and technical market structure to guide portfolio decisions. The objective is not to predict every market move, but to evaluate the evidence across the economy, the company, and the chart before capital is allocated.

Framework Inputs
Macro Regime / Fundamentals / Valuation / Technical Structure / Risk Management
01

Macro Regime

  • Observable data across volatility, interest rates, liquidity, and economic momentum.
  • Determines whether conditions favor risk-taking, risk control, or disciplined patience.
02

Fundamental Analysis

  • Business quality, durable growth drivers, healthy financials, and reasonable valuation.
  • Fundamentals determine what we want to own.
03

Technical Analysis

  • Trend, momentum, relative strength, volume, and market structure.
  • Technical analysis determines when an investment may offer a disciplined entry or exit.
04

Portfolio Risk Management

  • Positioning adjusted for market conditions, valuation, technical confirmation, and concentration.
  • Participate in long-term opportunity while maintaining a disciplined approach to downside risk.

How We Manage Portfolios

An adaptive process.
Built for changing
markets.

We manage portfolios through a documented, repeatable process. Each decision is based on current market evidence — not fixed assumptions or passive benchmarks.

01 Assessment

We evaluate macroeconomic conditions, volatility environments, liquidity trends, and portfolio risk exposure.

02 Positioning

Portfolio allocations are adjusted according to the current market regime and evolving opportunity set.

03 Monitoring

Market conditions, portfolio behavior, and downside risk are continuously reviewed.

04 Risk Management

Risk discipline and drawdown awareness remain central throughout changing market cycles.

05 Reallocation

As conditions evolve, risk exposure and portfolio positioning are selectively refined.

We combine analytical discipline with structured oversight to support long-term capital growth.

Structure

A repeatable process designed for consistency and discipline.

Adaptability

Portfolio positioning evolves with changing conditions.

Long-Term Focus

Preservation and compounding remain central to decision-making.

Fee Structure

Transparent. Tiered. Fully aligned.

Two service tracks. One firm. No commissions, no product sales, no hidden charges — just direct, fee-only compensation fully aligned with your outcomes.

Track 01 — Portfolio Management

For clients with $50,000+ who want Zmierski Capital to manage their portfolio.

Full portfolio management begins at $50,000 in investable assets. Advisory-only services are available to clients at any asset level who want professional guidance without discretionary portfolio management.

01 Foundation Portfolio
0.50% Annual AUM

$50,000 – $100,000

Advisory Sub $125/month
Onboarding $250

Full access to the regime-based investment process, quarterly performance reporting, and direct advisory relationship across all account types.

02 Growth Portfolio
0.65% Annual AUM

$100,000 – $250,000

Advisory Sub $100/month
Onboarding $250

Full strategy access, priority advisory communication, and quarterly attribution reporting across retirement, taxable, trust, and business account types.

03 Core Wealth
0.85% Annual AUM

$250,000 – $1,000,000

Advisory Sub $75/month
Onboarding $250

Comprehensive portfolio management with full strategy access, proactive market condition communication, and priority advisory support across all account structures.

04 Private Client
0.75% Annual AUM

$1,000,000 – $3,000,000

Advisory Sub Included
Onboarding Waived

Reduced management rate for established households. Advisory subscription included. Supports complex family, trust, and multi-account structures.

05 Institutional
0.55% Annual AUM

$3,000,000+

Advisory Sub Included
Onboarding Waived

Lowest management rate for larger consolidated portfolios. Full capability access with support for institutional structures, entities, and complex household arrangements.

Track 02 — Advisory-Only

For clients at any asset level who want guidance without discretionary portfolio management.

Advisory-only services are not limited to clients below the portfolio management minimum. They are available to any investor — at any asset level — who wants professional guidance, portfolio review, or planning support while retaining control of implementation in their own accounts. Advisory-only services do not include discretionary portfolio management or direct trading authority.

01 Essential Advisory
$149 /month

Setup: $250

Entry-level advisory guidance for investors who want professional input without full portfolio management. Includes basic portfolio review, general allocation guidance, quarterly check-ins, and planning support.

02 Core Advisory
$249 /month

Setup: $500

Ongoing advisory support for investors who manage their own accounts but want structured portfolio review and professional guidance. Includes deeper holdings review, risk and allocation analysis, and recurring strategy conversations.

03 Private Advisory
$399 /month

Setup: $750

High-touch advisory access for investors who want a more active relationship without discretionary portfolio management. Includes detailed portfolio analysis, monthly advisory conversations, priority communication, and ongoing guidance around market conditions and risk.

04 Portfolio Review
$750–$1,500

One-time project fee

A one-time portfolio and risk review for investors seeking an independent second opinion. Includes review of holdings, allocation, concentration, account structure, and risk exposure with a written summary of key observations. No ongoing commitment required.

Clients with less than $50,000 in investable assets may still be a strong fit for advisory-only guidance or a one-time portfolio review. Advisory-only services are available at any asset level.

Additional Fee Components

These components apply to all advisory relationships and are disclosed in writing before engagement begins.

Investment Policy Statement & Onboarding Fee $250

Charged at relationship onboarding — waived for Private Client & Institutional tiers

Covers application review, Investment Policy Statement drafting, initial portfolio construction, and Altruist account setup and verification.

Monthly Advisory Subscription $75–$125/mo

Charged monthly — included for Private Client & Institutional tiers

Covers two scheduled planning check-ins per year, quarterly performance and attribution reporting, secure document access, and direct advisory communication with a target response time of two business days.

Estimate Advisory Cost

Drag to estimate your annual cost based on portfolio size.

Portfolio Value $250,000
Core Wealth  ·  0.85% AUM
$50K $5M
Estimated Effective Annual Rate Includes AUM fee + advisory subscription
1.21%

Estimates are illustrative only and may not reflect the final advisory fee charged. Final fees depend on the client agreement, assets under management, selected service tier, and applicable expenses. Advisory fees do not include underlying fund expense ratios, ETF expenses, brokerage charges, custodial fees, trading costs, taxes, or other third-party expenses.

Accounts We Manage

Structured For
Every Stage Of Wealth.

Zmierski Capital manages taxable, retirement, trust, family, and business accounts through an active oversight framework designed to evolve alongside changing market conditions and long-term financial priorities.

Active Oversight Structured Management Preservation Adaptability Long-Term Focus
14.2%

Average intra-year S&P 500 decline since 1980.

A disciplined portfolio process helps investors stay aligned with their objectives through volatility.

Source

J.P. Morgan Asset Management

Who We Work With

Built for Investors
Who Take Wealth
Seriously.

We work with individuals, families, and business owners who want more than a passive index fund. Our clients want active oversight, transparent fees, and a clear process for protecting and growing their wealth.

Our approach is built around disciplined oversight, adaptability, and long-term financial alignment.

Our relationships are typically long-term and built around active ongoing portfolio oversight.

01

Accumulation-Focused Investors

Focused on preserving and compounding capital across full market cycles rather than pursuing short-term speculation.

02

Professionals & Executives

Investors seeking structured portfolio oversight while balancing demanding careers and evolving financial priorities.

03

Retirees & Pre-Retirees

Portfolio management centered around preservation, disciplined risk management, and long-term financial sustainability.

04

Business Owners

Active oversight for personal and business capital requiring adaptability, liquidity awareness, and disciplined allocation.

05

Families Seeking Continuity

Portfolio oversight structured around generational planning, shared financial objectives, and long-term continuity.

Your Life. Our Focus.

You focus on life.
We focus on the
markets.

Portfolio management demands continuous attention monitoring conditions, evaluating risk, and making disciplined decisions through every market environment. That responsibility belongs to us, so you can remain focused on what matters most in your life.

Your goals. Our management. Your time, reclaimed.

Apply for Partnership

Operational Infrastructure

Built On
Institutional
Infrastructure.

Client portfolios are managed through secure custodial infrastructure designed around transparency, operational separation, streamlined reporting, and long-term oversight.

Structured to provide clarity, visibility, and operational confidence across every advisory relationship.

01

Client Relationship

The advisory relationship begins with direct engagement, investment policy drafting, and ongoing portfolio oversight.

02

Zmierski Capital

Portfolio Oversight & Active Management

Active portfolio management, regime-based positioning, and continuous oversight are applied directly to each client relationship.

03

Altruist Custody

Secure Account Infrastructure

Client assets are held in custody at Altruist an independent, institutionally structured custodial platform maintaining full operational separation from the advisor.

04

Reporting & Visibility

Performance Reporting  ·  Account Access  ·  Secure Documentation

Clients maintain direct visibility into portfolio performance, account holdings, and advisory documentation through secure reporting infrastructure.

$500,000

SIPC Protection

Securities held through Altruist Financial LLC are protected by SIPC up to applicable limits, including up to $250,000 for cash claims.

$250,000

FDIC Cash Coverage

Eligible cash balances swept to participating program banks may receive FDIC insurance coverage subject to applicable limits and conditions.

Separate Account
Capacity

Account Structure

Coverage may apply separately across different account ownership structures, including individual, joint, and retirement accounts.

Client assets are custodied through institutional infrastructure designed around transparency, operational separation, and long-term oversight. SIPC and FDIC protection do not protect against investment losses. Coverage is subject to applicable limits and conditions.

Evan Zmierski

The Advisor

A framework built by
someone who manages it.

Evan Zmierski signature

Founder & Chief Investment Officer

Zmierski Capital was built on a single conviction: investors deserve a manager who acts in their interest alone — free from product sales, institutional conflicts, and passive assumptions that ignore market conditions.

Every client relationship is governed by a written Investment Policy Statement. Every decision is made in the client's interest. There are no product commissions, no revenue-sharing arrangements, and no passive index strategies dressed up as active management.

What you receive is direct, founder-led portfolio management — with full transparency, a documented process, and a manager whose interests are fully aligned with yours.

“My obligation is to act in the client’s interest. Not to sell products, hit quotas, or chase themes.”

Evan Zmierski  ·  Founder & CIO

Experience 5+ Years in Capital Markets
License Series 65

Insights

Timely perspectives.
Thoughtful insights.

Explore market commentary, portfolio strategy, and risk-focused perspectives designed to help investors think clearly through changing conditions.

Retirement Planning

Rate Cycles and Retirement Portfolios

How shifting interest-rate environments affect retirement portfolio construction and long-term sustainability.

Zmierski Capital  ·  Insights

Investment Strategy

Tactical Allocation Is Not Market Timing

Understanding the difference between disciplined tactical positioning and speculative market timing.

Zmierski Capital  ·  Insights

Risk Management

The Mathematics of Drawdown

Why large portfolio losses require disproportionately larger gains to recover — and what that means for long-term compounding.

Zmierski Capital  ·  Insights

Portfolio Construction

Building Portfolios That Survive Uncertainty

How structural discipline in portfolio construction creates resilience across unpredictable market conditions.

Zmierski Capital  ·  Insights

Behavioral Finance

Why Investors Underperform Their Own Portfolios

The behavioral gap between fund returns and investor returns — and what a structured process does to close it.

Zmierski Capital  ·  Insights

Fee Transparency

The True Cost of Advice You Cannot See

Embedded costs, undisclosed compensation, and why independent, fee-based advice is structurally different.

Zmierski Capital  ·  Insights

FAQ

Answers to
Common
Questions.

We believe informed investors make better long-term partners. These answers reflect how we think, how we operate, and how we approach every client relationship.

Zmierski Capital is an independent investment advisory firm offering active portfolio management and advisory services. We combine macro regime analysis, fundamental research, and technical market structure to guide portfolio decisions — providing disciplined, evidence-based investment oversight for individuals, families, and business owners focused on long-term outcomes. Advisory services are offered only where properly registered or exempt from registration.

We work with accumulation-focused investors, professionals and executives, retirees and pre-retirees, business owners, and families seeking long-term portfolio continuity. Our relationships are typically long-term and built around active ongoing oversight. New client relationships begin through an application process — we review each inquiry to confirm long-term fit before moving forward.

We are an independent, fee-based advisory firm — not a product-driven brokerage or commission-based advisor. Our investment process combines macro regime analysis, fundamental research, and technical structure to evaluate where capital should be allocated and when. We do not sell products, manage proprietary funds, or earn referral fees. Our fee structure is transparent, tiered, and disclosed in writing before engagement. Active management does not guarantee outperformance or protection against loss.

We offer two primary service tracks. For clients who want active portfolio management, we provide discretionary oversight across taxable accounts, retirement accounts (Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, Rollover IRA, Solo 401(k), Beneficiary IRA), trust and estate accounts, joint and family accounts, and business and entity accounts. For clients who want advisory guidance without discretionary management, we offer standalone advisory subscriptions. All accounts managed under our discretion are custodied through Altruist, an institutional-grade independent custodial platform.

Risk management is integrated into every layer of the investment process. Our framework evaluates macro conditions, company-level fundamentals, valuation, and technical structure before allocating capital. Portfolio positioning is adjusted based on the current market environment — not held passively or anchored to static assumptions. The goal is disciplined participation in long-term opportunity, not the elimination of risk.

We offer two service tracks. Portfolio management clients pay a tiered AUM fee plus a monthly advisory subscription — Foundation Portfolio ($50k–$100k) at 0.50% AUM + $125/month; Growth Portfolio ($100k–$250k) at 0.65% AUM + $100/month; Core Wealth ($250k–$1M) at 0.85% AUM + $75/month; Private Client ($1M–$3M) at 0.75% AUM with subscription included; and Institutional ($3M+) at 0.55% AUM with subscription included. Portfolio management begins at $50,000 in investable assets. Advisory-only clients — at any asset level — can subscribe starting at $149/month, or engage for a one-time portfolio review at $750–$1,500. All fees are disclosed in writing before any engagement begins.

New client relationships begin with an application. We review each submission to assess long-term fit before scheduling a conversation. If there is strong alignment, we will reach out to schedule a focused introductory call to discuss your situation, objectives, and how our framework applies. The onboarding process is structured and moves at a pace that works for you.

Begin the Conversation

Apply for Portfolio
Management.

Zmierski Capital accepts new clients by application. Before we begin, we take time to understand your financial situation, goals, and what you expect from an advisory relationship.

Partnership Application

Currently Accepting Applications  •  Capacity is limited by structural choice.

Portfolio management begins at $50,000 in investable assets. Clients below that threshold are still welcome to apply for advisory-only guidance or a one-time portfolio review — both are available at any asset level.

All inquiries are reviewed within five business days.

After You Submit

What Happens Next

A straightforward four-step process. Every application is reviewed for fit before we move forward.

1

Application Review

We review your application within five business days.

2

Consultation Invitation

If there is a strong fit, we invite you to schedule a consultation call.

3

Discovery Conversation

A focused 45-minute call to discuss your situation and how we work. No sales pitch.

4

Onboarding Decision

If both sides are aligned, we begin account setup and formal documentation.

Independent Series 65 Altruist Custodied Application-Only

Zmierski Capital is an independent investment advisory firm. All fees are disclosed in writing before engagement. Client assets are custodied through Altruist. Advisory services are offered only where properly registered or exempt from registration.