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Cardinal Capital Management Review

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Cardinal Capital Management, L.L.C.

Based in Greenwich, Connecticut, Cardinal Capital Management is an investment advisory firm with more than $2 billion in assets under management (AUM). The firm’s advisors provide equity-driven portfolio management services to a diverse group of clients ranging from individuals and businesses to corporate retirement plans and pooled investment vehicles. 

Cardinal Capital Management Background

Cardinal Capital Management has been doing business as a registered investment advisor (RIA) since 1995. It’s 100% owned by the following individuals: 

  • Managing partner Eugene Fox, III
  • Managing partner Robert B. Kirkpatrick
  • Partner Rachel D. Matthews
  • Partner Robert Fields
  • Retired managing partner Amy K. Minella

Kirkpatrick holds the professional designation of certified financial planner (CFP), which requires candidates to undergo rigorous training and education around personal finance topics. 

What Types of Clients Does Cardinal Capital Management Accept?

Cardinal Capital Management provides investment advisory services to the following types of clients: 

  • High-net-worth individuals
  • Private institutions
  • Corporations
  • Public and private pension plans
  • Investment companies
  • Foundations and endowments
  • Mutual funds and collective investment trusts (CITs)

Cardinal Capital Management Minimum Account Size

Cardinal Capital Management usually requires a minimum investment of $500,000 to engage in its investment partnership services. To open a separately managed account, the firm generally requires a minimum account size of $5 million. However, the firm may reduce or waive these minimums at its discretion. 

Services Offered by Cardinal Capital Management

Cardinal Capital Management focuses on providing equity-focused portfolio management services to its clients. It generally invests client assets in separately managed accounts built with one of the mutual funds that it advises or sub-advises. The firm can also invest client funds in the limited partnerships or CITs that it manages. 

These investment strategies generally involve U.S.-listed equity securities across the small- to mid-capitalization categories. 

Cardinal Capital Management Investment Philosophy

Cardinal Capital Management invests solely in U.S.-listed equities of companies that typically have market capitalizations below $7.5 billion. These companies generally fall under niche markets where the firm believes it has a structural advantage.  

When examining these firms, Cardinal Capital Management engages in fundamental analysis. This procedure involves making projections of a company’s future financial strength by examining its current financial health in addition to other factors. 

The firm’s brochure notes that the “investment team focuses on understanding each company’s five-year strategic plans, including acquiring in-depth knowledge of the company’s future cash flow generation and its redeployment of that cash flow.

Fees Under Cardinal Capital Management

Cardinal Capital Management’s fees vary, depending on the investment strategy your advisor uses to manage your portfolio. The firm charges these fees as a percentage of your account size. We provide Cardinal Capital Management’s current fee schedule below. 

Small Cap Value Equity Accounts 

Account Size Fee
First $10 MM 1.00% 
Next $15 MM 0.90% 
Next $25 MM 0.85% 
Balances of More Than $50 MM 0.75%


Limited Partnership: $500,000 Minimum 

Account Size Fee
Funds under $5 MM 1.25% applied to entire account 
Funds from $5 MM $10 MM: 1.00% applied to entire account 
Funds over $10 MM 0.85% applied to entire account


SMID Cap Value Equity 

Account Size Fee
First $10 MM 1.00% 
Next $15 MM 0.85% 
Next $25 MM 0.70%

These fees are usually payable either quarterly or monthly in arrears based on the net asset value of the account, as of the last day of the preceding quarter. Still, the firm’s investment management fees and payment schedules may be negotiable. 

But keep in mind that the fee schedule applies to the firm’s current investment management fees. Your account may incur additional expenses such as custodial charges, brokerage fees and commissions costs. 

For more information, refer to the fund prospectus of underlying funds in your portfolio. You should also refer to the investment advisory agreement document and other material you sign with Cardinal Capital Management. 

Finally, the firm offers one account that charges a performance-based fee in addition to the asset-based investment management fee. The performance-based part can range from 0.25% to 0.40% of the capital appreciation of assets under management. 

What to Watch Out For

Cardinal Capital Management does not work with small investors. It also doesn’t provide financial planning or wealth management. For these services, use SmartAsset’s financial advisor matching tool to find a more suitable pro who is in your area. 

Disclosures

At the time of this writing, Cardinal Capital Management has not reported any disciplinary events within the past 10 years that are material to a client or prospective client’s reasonable evaluation of the firm’s business. 

Opening an Account With Cardinal Capital Management

You can open an account with Cardinal Capital Management by visiting the firm’s official website at http://www.cardcap.com/ or by calling the firm at 203-863-8990.

Where Is Cardinal Capital Management Located?

Potential clients can find Cardinal Capital Management at Four Greenwich Office Park, Greenwich, Connecticut 06831. 

All information was accurate as of the writing of this article.

Tips for Finding the Right Financial Advisors

  • Don’t have $5 million to invest? There are plenty of qualified advisors who can help you. Our SmartAsset advisor matching tool links you with up to three in your area, based on your current situation and goals. It also provides you with access to their profiles, so you can evaluate their credentials and other factors before you make a decision. 
  • Know that not all financial advisors are held to the same standards. With that said, you should know what’s expected and required CFPs and other types of fiduciary advisors.

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