Breckinridge Capital Advisors specializes in managing investment-grade bond portfolios. Its financial advisors serve a range of clients including sophisticated investors and large institutions. With that said, it doesn't offer financial planning services to individual clients without substantial assets or investment acumen. But you can use our financial advisor matching tool to find an advisor that works with investors outside the high-net-worth scope.
Boston-based Breckinridge Capital Advisors has more than $36 billion in assets under management (AUM).
Breckinridge Capital Advisors Background
Breckinridge Capital Advisors formed in 1993. It currently also operates as a Massachusetts Benefit Corporation. The firm currently is owned by Peter Coffin, the firm’s founder and president. Its CEO Laura Lake is a certified financial planner (CFP) who has been in the financial services industry for more than 20 years.
What Types of Clients Does Breckinridge Capital Advisors Accept?
Beckinridge works with individuals, trusts, estates, charitable organizations, foundations, corporations, investment companies registered under the Investment Company Act of 1940, private investment funds, Taft-Hartley plans, public funds and other institutional investors.
Breckinridge Capital Advisors Minimum Account Size
The firm’s minimum account requirements vary, depending on the investment strategy it uses to manage the client’s account. General fixed income strategies require a $10,000,000 minimum investment. Investment-grade bond strategies require a minimum of $500,000. The firm may waive or update these minimums at its discretion.
Services Offered by Breckinridge Capital Advisors
Breckinridge focuses on investment-grade fixed income portfolio management services. It offers municipal, government and sustainable bond strategies through separate accounts.
Breckinridge Capital Advisors Investment Philosophy
The firm adopts the following investing strategies:
Tax-efficient Strategy - involves a diversified allocation to tax-exempt municipal bonds and seeks to maximize after-tax income and preserve capital
Government Credit Strategies - invest in U.S. Treasury, government-related and corporate bonds in order to maximize risk-adjusted returns and preserve capital
Fixed Income Strategies - invest in U.S. Treasury, government-related, corporate and securitized bonds to preserve capital and to maximize risk-adjusted returns
Sustainable Strategies - invest in issuers with above-average environmental, social and governance profiles and/or bonds that fund essential environmental, social or economic development projects. Values-based customizations, such as environmental- or religious-based themes, are also available.
Overall, the firm’s fixed-income approach seeks to generate positive returns especially in times of economic distress to counterbalance any poor performance of riskier assets. The firm states: “Our goal is to strike the right balance between risk and return, without overreaching for yield.” The firm believes that taking on too much risk can cause bond portfolios to correlate with equities, causing such investments to flounder, especially in times of economic tension.
Fees Under Breckinridge Capital Advisors
Breckinridge charges a maximum annual fee of 0.35% of assets under management (AUM). The firm may deduct this fee from custodial accounts or send an invoice directly. In addition, the firm collects fees for the wrap-fee programs it advises. In these cases, advisory fees come for the program sponsor.
What to Watch Out For
Breckinridge focuses on fixed-income strategies designed for investors who seek to preserve capital. So if you seek investment advice around other asset classes such as equities and alternative investments, you may want to work with a different firm or maintain investments with Breckinridge in addition to another advisory firm. You can use our advisor matching tool to find other advisors in your area.
In the last 10 years, Breckinridge has had no legal or disciplinary events to report to the Securities and Exchange Commission (SEC). For the latest details, you can access the firm’s Form ADV on the SEC website.
Opening an Account With Breckinridge Capital Advisors
To contact Breckenridge, call its Boston headquarters at (617) 443-0779 or its San Diego office at (858) 352-1167.
Where Is Breckinridge Capital Advisors Located?
Breckinridge’s main office is at 125 High Street, Suite 431, Boston, Massachusetts 02110.
It also has a West Coast office at 4655 Executive Drive, Suite 820, San Diego, California 92121.
All information was accurate as of the writing of this article.
Tips on Finding the Right Financial Advisor
- Consider the field to find your best choice. To help you, we designed a financial advisor matching tool. It connects you with up to three local advisors based on your answers to a brief questionnaire about your goals and financial situation.
- Ask potential advisors about their certifications. One with one of the highest fiduciary standards in the industry is the CFP designation. These advisors undergo intensive training to earn that ranking and they must work in your best interest or face possible legal action.