Canterbury Consulting is a financial advisor firm located in Newport Beach, California with billions of dollars in assets under management (AUM). Additionally, the firm has an office in Seattle, Washington on Fifth Avenue near Pike Place Market. The firm offers a range of both institutional- and individual-focused advisory services, working with a mix of high-net-worth individuals, charitable organizations, retirement plans and private funds.
This is a fee-only firm, so all of its earnings come from the 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 1988 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 a sizable team of advisory employees on staff between its two locations. Among these advisors, there are chartered financial analysts (CFAs) and chartered alternative investment analysts (CAIAs).
Canterbury Consulting Client Types and Minimum Account Sizes
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 few clients characterized as a pension or other qualified retirement plan. It also manages a handful of private funds, most of which are private equity funds.
Canterbury Consulting doesn’t impose any sort of minimum account size. However, the firm charges a minimum annual fee in connection with each of its services. The firm will specify these in your client agreement.
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. The firm doesn't specify exactly what fee rates apply to what AUM tiers, but there's a general breakdown below:
|Canterbury Consulting Fees
|Annual Fee Range
|0.05% - 0.20%
|Outsourced chief investment officer (CIO)
|0.10% - 0.35%
|0.10% - 0.50%
|0.10% - 0.50%
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.
What to Watch Out For
Canterbury Consulting 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 submitted to censure, disgorgement and cease and desist.
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.
All information is accurate as of the writing of this article.
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