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.
Breckinridge Capital Advisors Background
Breckinridge Capital Advisors formed in 1993. It currently also operates as a Massachusetts Benefit Corporation. The firm currently is principally owned by Peter Coffin, the firm’s founder and president.
Breckinridge Capital Advisors Types of Clients and Minimum Account Size
Beckinridge works with individuals, trusts, estates, charitable organizations, foundations, corporations, investment companies, private investment funds, Taft-Hartley plans, public funds and other institutional investors.
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 million 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: invests in U.S. Treasury, government-related and corporate bonds in order to maximize risk-adjusted returns and preserve capital
- Fixed-Income Strategies: invests in U.S. Treasury, government-related, corporate and securitized bonds to preserve capital and to maximize risk-adjusted returns
- Sustainable Strategies: invests 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 has no legal or disciplinary events to report to on its SEC-filed Form ADV.
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.
All information is accurate as of the writing of this article.
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