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|
|$100MM - $1BB||0.20%|
|Institutional Advisory Services|
|Account Value||Fee Percentage|
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.
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.
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