# ECM

ECM is a Multi Family Office based in Sioux Falls, United States.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Sioux Falls, United States
- **Region:** North America
- **Address:** Sioux Falls, SD, United States
- **Founded:** 2003
- **Assets under management:** Over $1.8 billion (per firm website, 2025)
- **Website:** elgethun.com

## Regulatory record

- **Reports private funds:** No

## About

Elgethun Capital Management was founded in 2003 by Terry Elgethun. John Barker partnered with the firm in 2011 and purchased it outright in 2012. Barker now serves as President and Owner while directing investment strategy and client relationships. ECM allocates client capital across five primary asset classes: public and private equity, commercial and residential real estate, and municipal and corporate fixed income. It avoids commodities and currencies. The firm executes through direct holdings in individual securities, mutual funds, and alternative vehicles including private credit and venture capital. It maintains exposure across North America, Europe, Asia, and additional regions. Investment stages include seed, early, and growth opportunities. The firm reports 15 investment and advisory professionals. It added Chad D. Hatch as Strategic Advisor in 2025 and Christian Schoppert as Private Capital Associate in 2025. ECM maintains relationships with custodians including Charles Schwab Institutional, Pershing, and Fidelity. It sponsors the Prairie Family Business Association and holds membership in the Greater Sioux Falls Chamber of Commerce. ECM operates as an independent SEC-registered RIA rather than a captive bank or brokerage affiliate. This structure removes proprietary product conflicts and allows the firm to serve both single-family and multi-family clients under a single fiduciary mandate.

## Sectors

- PropTech
- AgriTech & FoodTech
- Energy Transition & Renewables
- FinTech
- EdTech
- Digital Health
- Mobility & Transportation
- GovTech
- ClimateTech
- InsurTech

## People

- John A. Barker — President & Owner
- Austin J. Wagner — Portfolio Manager & Partner
- Conrad T. Adam — Portfolio Manager & Partner
- Dustin M. Pratt — Family Office Advisor & Director of Private Capital

## Questions

### Who runs investment decisions at ECM?

John A. Barker serves as President and Owner and leads investment strategy and portfolio management. Austin Wagner and Conrad Adam act as portfolio managers and partners. The team follows a capital-preservation mandate centered on asset allocation and security selection.

### Does ECM participate in fund commitments or only direct deals?

ECM uses both approaches. It holds individual public equities and bonds while also deploying capital through private equity, venture capital, and private credit vehicles. The firm maintains a dedicated private capital program.

### What investment stages does ECM typically target?

The firm targets seed, early-stage, and growth investments. It also participates in later-stage private equity and real estate opportunities through direct and co-investment structures.

### Where does ECM source proprietary deal flow?

Deal flow originates from the team's regional network in South Dakota, prior professional relationships at institutions such as Hirtle Callaghan and Abbot Downing, and memberships in local business associations.

### How is ECM related to Elgethun Capital Management?

ECM is the operating name for Elgethun Capital Management, the SEC-registered RIA founded in 2003 and acquired by John Barker in 2012.

### Does ECM maintain philanthropic structures?

Team members serve on boards including the University of South Dakota Foundation and Hope Coalition. The firm itself does not disclose a separate foundation vehicle.

### What is ECM's known posture on co-investments alongside external GPs?

ECM executes direct co-investments and SPVs in private capital. Specific co-investor names are not publicly listed.

## Related profiles

- [GFG Capital](https://altss.com/profile/gfg-capital)
- [Hampshire Family Office](https://altss.com/profile/hampshire-family-office)

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Last updated: 2026-06-03T20:00:00.000Z

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