The Burney Company is a large financial advisor firm located in Reston, Virginia, which is fairly close to the Washington, D.C. metropolitan area. The Burney Company employs a large team of financial advisors who manage about $2 billion in client assets. Clients at the firm include both institutional and individual investors. The firm mainly provides investment management and financial planning services, though it also does equity research.
This firm currently holds the third spot on our list of the top financial advisors in Reston, Virginia. As a fee-only operation, it earns all of its compensation from the fees that clients pay.
The Burney Company Background
The Burney Company was founded quite a while ago in 1974 by Army Brigadier General J.C. Burney. Burney remains with the firm to this day, serving on the leadership team. He got started working in the financial sector in the 1950s and has been involved in the field ever since. Burney still owns the firm, along with his wife Mary Burney, Lowell Pratt, Bill Stewart, Martin Walsh, Alex Shen, Richard Bauchspies, Gil Green and Tom Hunt.
Several of the firm's advisors hold financial certifications. These include certified financial planner (CFP), accredited investment fiduciary (AIF) and chartered financial analyst (CFA).
The Burney Company Client Types and Minimum Account Sizes
The Burney Company works with both individual and institutional clients, though the majority of its clients are individuals. Of those individuals, a little less than half have a high net worth. The firm's institutional clients include pension and profit-sharing plans, charitable organizations, state and municipal governments and businesses.
Burney imposes a $750,000 minimum account size. However, this minimum can be waived or negotiated at the discretion of the firm.
Services Offered by The Burney Company
The Burney Company primarily provides clients with investment management and financial planning services. Investment management is tailored to the needs of each client, and the firm utilizes wrap fee programs, which combine all fees into a single charge. Assets at the firm are solely managed on a discretionary basis.
When it comes to financial planning, advisors will work with clients to provide advice on whatever financial issues they may have. Topics may include retirement planning, education planning, business planning, tax services, insurance planning, estate planning and more.
The Burney Company Investment Philosophy
Like many other advisory firms, The Burney Company provides clients with personally tailored investment advice. This means that advisors work with clients to determine their overall financial situation and goals by taking note of their tolerance for risk, liquidity needs and other important factors. Based on these factors, an appropriate investment portfolio will be put together for you.
When it comes to investing assets, advisors primarily use domestic equities. However, "non-equity investments are used to create income, provide stability and enhance portfolio diversity," according to the firm's ADV brochure. Advisors look to capture gains in both value and growth market phases.
Fees Under The Burney Company
Fees for investment management services at The Burney Company are charged based on a percentage of each client's total assets under management (AUM). For the wealth management program, there is a minimum annual fee of $2,500. Standard advisory services have a minimum fee of $1,500. Rates for each are based on the following fee schedules:
|The Burney Company Standard Fee Schedule|
|Portfolio Value||Annual Fee|
|The Burney Company Wealth Management Fee Schedule|
|Portfolio Value||Annual Fee|
|$2M - $5MM||1.00%|
|$5MM - $10MM||0.90%|
|More than $10MM||0.75%|
Additional financial planning and consulting fees are charged at a rate of $250 per hour. Fees may also be negotiable, depending on level and scope of services.
Here's what you can expect to pay at The Burney Company at various asset levels.
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at The Burney Company*|
|Your Assets||The Burney Company Wealth Management Fees|
What to Watch Out For
The Burney Company has no legal or regulatory disclosures listed on its Form ADV.
Opening an Account With The Burney Company
To work with The Burney Company, you can go online to the firm's website, click "get in touch" and submit a contact form. You can also call the firm at (703) 241-5611 or visit in-person at its Reston office.
All information is accurate as of the writing of this article.
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