Loading
Tap on the profile icon to edit
your financial details.

Canterbury Consulting Review

Your Details Done
by Updated
Canterbury Consulting, Inc.

Canterbury Consulting is a financial advisor firm located in Newport Beach, California with roughly $3.73 billion in assets under management (AUM). The firm offers a range of both institutional- and individual-focused advisory services, working with a mix of high-net-worth individuals, retirement plans and businesses. 

This is a fee-only firm, so all of its earnings come from advisory fees that clients pay. This differs from a fee-based arrangement, which is a fee schedule that allows a firm to earn compensation from other areas, like insurance or securities commissions.

Canterbury Consulting Background

Canterbury Consulting was founded in 1998 in Newport Beach. One of the firm's co-founders, D. Robinson Cluck, serves as principal owner and chairman of the board of directors. Cluck has more than 40 years of experience in the financial services industry.

The firm has 19 advisory employees on staff between its two locations. Among these advisors, there are eight chartered financial analysts (CFAs) and eight chartered alternative investment analysts (CAIAs).

What Types of Clients Does Canterbury Consulting Accept?

Canterbury Consulting works with nearly 200 clients, almost all of whom are either high-net-worth individuals or charitable organizations. It also works with a single client characterized as a pension or other qualified retirement plan.

Canterbury Consulting Minimum Account Sizes

Canterbury Consulting doesn’t impose any sort of minimum account size. However, the firm charges a $75,000 minimum annual fee for its wealth management services, which would constitute a hefty cost for clients with less to invest. Canterbury's institutional advisory services come with a $50,000 minimum annual fee, as do its outsourced chief investment officer (CIO) services.

Services Offered by Canterbury Consulting

Canterbury Consulting offers discretionary wealth management, as well as non-discretionary consulting services to institutional clients. Wealth management services can cover a wide array of topics, but will likely include some of the following:

  • Preparation of a family strategic plan
  • Investment portfolio assessment
  • Investment policy statement (IPS) development
  • Strategic asset allocation planning
  • Portfolio construction and risk management
  • Investment manager research
  • Implementation of socially responsible investing guidelines
  • Assistance with charitable giving
  • Performance reporting
  • Custodian evaluation
  • Client financial education and quarterly meetings

Additionally, the firm provides investment advisory services to two private equity funds, which both invest in an underlying fund. The purpose of the two funds is to give investors with fewer investable assets the opportunity to invest in the underlying fund.

Canterbury Consulting Investment Philosophy

Canterbury Consulting approaches its wealth management services from a client-centric perspective. It forms its strategy by factoring in each client’s specific investment goals, cash flow needs, tax situation, estate planning goals and philanthropic goals.

When analyzing potential securities, the firm relies on the following methods:

  • Technical analysis: This strategy involves the study of past market movements in an attempt to predict future activity.
  • Fundamental analysis: This attempts to gauge the intrinsic value of a security by examining macroeconomic factors, as well as financial documents pertaining to the security.
  • Cyclical analysis: This is the practice of analyzing security prices in the context of larger economic cycles.

Fees Under Canterbury Consulting

Canterbury Consulting typically charges its clients an advisory fee based on a percentage of their overall AUM at the firm. The exact percentage you’ll pay depends on both the type of service you’re receiving and the size of your account. You can check the schedules below for specific fee information, but keep in mind that these rates may be negotiable.

Wealth Management Services
Account Value Fee Percentage
First $50MM 0.50%
Next $50MM 0.40%
$100MM - $1BB 0.20%
Above $1BB 0.10%

 

Institutional Advisory Services
Account Value Fee Percentage
First $50MM 0.20%
Next $50MM 0.10%
Above $100MM 0.05%

Although Canterbury shows its fees in annual percentages, it divides them into quarterly rates. The firm charges fees in arrears, and clients can be billed directly or have them deducted from their account's balance.

Disclosures

Canterbury has one disclosure listed on its Form ADV. In this report, the U.S. Securities & Exchange Commission (SEC) states that the firm was found to have not adequately supervised a former minority owner who was involved in preferential trading activity. As a result, Canterbury was fined $100,000 and censured.

Keep in mind that Canterbury Consulting abides by fiduciary duty. This legally binds it to act in clients’ best interests at all times.

Opening an Account With Canterbury Consulting

There are a few different ways you can get in touch with Canterbury Consulting. If you prefer working online, you can visit the firm’s website and fill out its contact form with your name, email address, phone number and a brief message. You can also call the firm at (949) 721-9580.

Where Is Canterbury Consulting Located?

Canterbury Consulting is headquartered in Newport Beach, California on Newport Center Drive, across the street from the Fashion Island Shopping Mall. Additionally, the firm has an office in Seattle, Washington on Fifth Avenue near Pike Place Market.

Investing Tips

  • Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • If you find that you don’t have quite enough money to meet the account minimums of many traditional advisors, then you may be interested in a robo-advisor. Robo-advisors often have lower minimums and fees while also helping you reach your investment and retirement goals.

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research