By Clark Kendall, CFA, AEP®, CFP®
President & CEO
Financial planning insights to grow and manage wealth for people who serve our communities as federal, state, and local government employees.
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When choosing a financial advisor, it’s important to consider which kind of financial advisor is right for you. Some advisors...
Learn MoreKendall Capital can help you manage investments in 401(k), 403(b) and other workplace plans. We incorporate your retirement plan investments into a larger strategy with your other assets. As an independent fee-only firm, Kendall Capital has capabilities to look at the full picture from an investment perspective as part of our financial planning service. Many other fee-only firms may not manage with employer plans, but we’ve decided to embrace this approach as part of our commitment to working in your best interest.
Our household minimum is $500,000 in Assets Under Management – meaning the combined value of accounts which we manage should be over $500,000. This includes taxable accounts, IRAs, Roth IRAs, 529 plans and even your employer-sponsored retirement plans like 401(k)s and 403(b)s. We generally charge 1% on the first $2,000,000 in assets we manage for clients. This fee is calculated and billed on a quarterly basis.
There are two aspects to address, 1) The standard which is used to determine investment recommendations and 2) the compensation structure for the adviser.
Fee-only advisers abide by a fiduciary standard to always represent their clients’ best interests. The fiduciary standard is legally, the highest standard imposed by the industry. On the other hand, when an adviser is employed by a broker-dealer firm, they may be held to a fiduciary standard, but only for retirement accounts. In general, they are only required to recommend investments which are “suitable” for a client, which is a lower legal standard than the fiduciary standard.
Compensation is more clear cut. Fee-Only advisers are solely compensated by the fees paid to them by their clients and typically charge a fee by the hour, for example to develop a financial plan, or as a percentage of the assets they manage for the clients. Because they do not receive commissions from third-parties, they have no incentive to offer one investment over another. Fee-based advisers may also charge a fee as a percentage of the assets they manage, but they can also receive commissions from buying or selling investments or selling insurance or annuity products.
No, we do not prepare tax returns or draft legal documents, but we do address potential pitfalls or opportunities around these areas of your life. We also recommend our clients to accountants and estate planning attorneys we trust.
