# Security Capital Management

Security Capital Management is a Bank / Wealth / Trust based in Chicago, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** Chicago, United States
- **Region:** North America
- **Address:** Wheeling, WV, United States
- **Founded:** 1883
- **Assets under management:** Undisclosed
- **Website:** hazlettburt.com
- **LinkedIn:** https://www.linkedin.com/company/security-capital-management

## About

Security Capital Management operates through Hazlett, Burt & Watson, Inc., a Wheeling-based investment firm whose roots trace to 1883. The firm was built to serve the wealth generated by the industrial expansion of the Ohio River Valley — steel, coal, and glass fortunes concentrated in West Virginia, eastern Ohio, and western Pennsylvania. It remains one of the oldest continuously operating investment firms in the region. The firm's strategy blends direct principal investing with third-party advisory mandates. Public records indicate the firm has historically favored long-duration, cash-flowing assets — regional real estate holdings, private utility securities, and municipally-linked infrastructure credits. The firm does not operate as a traditional RIA marketing to mass-affluent households; its book centers on a small number of institutional and high-net-worth relationships built over decades. The firm runs a lean operation from a single office in Wheeling. It has operated without significant external branding, a website, or a digital presence. This posture — deliberately low-profile — reflects a model where assets and clients are retained through personal relationship continuity, often across three or four generations of the same families. The firm does not disclose total assets under management or the size of its proprietary book. Structurally, the firm differs from the modern SFO by retaining a community-bank lineage — Hazlett, Burt & Watson's original charter linked investment management to the civic fabric of Wheeling. The governance and succession architecture remains opaque, but the absence of marketed funds or public-facing vehicles distinguishes it from both the multi-family office aggregators and the private-equity-backed RIA platforms that now dominate the wealth management landscape.

## Questions

### How does Security Capital Management source its investment opportunities?

The firm sources deal flow through entrenched regional relationships in the Ohio River Valley, a network built over 14 decades. Opportunities — particularly in commercial real estate, private placements, and infrastructure — originate from local developers, family-held operating companies, and municipal relationships rather than through competitive auction processes.

### Does Security Capital Management take external institutional capital?

Yes, but the firm does not market broadly. The firm advises individuals, pension plans, trusts, and small businesses, according to its regulatory profile. However, the client count and asset base are believed to be concentrated, and the firm does not operate commingled fund vehicles accessible to institutional limited partners.

### Is Security Capital Management affiliated with a bank or trust company?

Historically, Hazlett, Burt & Watson operated with a community-bank and trust-company lineage tied to the industrial economy of West Virginia. The firm no longer holds a banking charter, but its investment mandate retains hallmarks of trust-department thinking — conservative balance sheets, income-producing assets, and intergenerational custody.

## Related profiles

- [Security Asset Management](https://altss.com/profile/security-asset-management)
- [Seed Wealth Management](https://altss.com/profile/seed-wealth-management)

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

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