Based in Greenwich, Connecticut, Cardinal Capital Management is an investment advisory firm with a small team of advisors on staff. 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
- Partner Ross Weissman
- Retired managing partner Amy K. Minella
Cardinal Capital Management Client Types and Minimum Account Sizes
Cardinal Capital Management provides investment advisory services to the following types of clients:
- High-net-worth individuals
- Private institutions
- Public and private pension plans
- Investment companies
- Foundations and endowments
- Mutual funds and collective investment trusts (CITs)
Cardinal Capital Management requires different minimum investments to engage in its investment partnership services. To open a separately managed account, the firm generally requires a minimum account size of $5 million. Limited partnerships incur a $500,000 minimum. 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 Fee Schedule
|Balances of More Than $50,000,000
|Limited Partnerships Fee Schedule
|Funds under $5,000,000
|1.25% applied to the entire account
|Funds from $5,000,000
|$10 MM: 1.00% applied to the entire account
|Funds over $10,000,000
|0.85% applied to the entire account
|SMID-Cap Value Equity Fee Schedule
|Balances over $50,000,000
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.
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 has not reported any disclosures on its Form ADV.
Opening an Account With Cardinal Capital Management
You can open an account with Cardinal Capital Management by visiting the firm’s official website or by calling the firm. You can also visit in person at the firm's Greenwich offices.
All information was accurate as of the writing of this article.
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