Cerity Partners, LLC is a financial advisor that doesn’t just provide advisory services; the firm also offers prospective and current clients free educational articles that focus on financial topics like retirement.
Cerity Partners is a fee-only firm, so the firm only earns compensation from the services it provides, not on commisssions for products it sells. Cerity’s compensation arrangements consist of asset-based fees, hourly fees, fixed fees and performance-based fees.
Cerity Partners Background
Cerity is a registered investment advisor (RIA) that’s been in business since 2009. The firm is controlled by Cerity Partners Equity Holding LLC, a company that’s controlled by Cerity Partners EOE LLC. Cerity Partners EOE LLC is owned by Cerity Partners and Cerity Partners Holdings LLC, which is in turn a subsidiary of Lightyear Fund IV AIV-1, L.P.
Cerity has offices in New York, California, Illinois, Colorado, Michigan, Ohio and Texas. Kurt Miscinski is the firm’s president and chief executive officer (CEO).
Cerity Partners Client Types and Minimum Account Sizes
Cerity advises individuals, high-net-worth individuals, trusts, business entities, corporate pension and profit sharing plans, foundations, charitable institutions and endowments.
The firm typically imposes a minimum account size requirement of $2 million and a minimum annual fee of $30,000.
Services Offered by Cerity Partners
Cerity clients can take advantage of of the following advisory services:
- Investment advisory
- Current portfolio evaluation
- Assessment of investment objectives and financial goals
- Investment policy development
- Strategic asset allocation planning
- Manager search and evaluation
- Investment program implementation and rebalancing
- Portfolio monitoring and risk management
- Performance measurement and attribution analysis
- Wealth planning
- Net worth analysis
- Trust Fiduciary and Family Office Services
- Liquidity and liability management
- Insurance planning and risk management
- Estate and wealth transfer planning
- Compensation and benefits analysis
- Retirement planning
- Education planning
- Philanthropy and charitable gift planning
- Bill payment service and client accounting
- Retirement plan services
- ERISA fiduciary and non-fiduciary services
- Plan design consulting
- Financial wellness coaching
- Administrative plan support
- Investment management services
- Executive financial counseling
- Company benefits coordination and planning
- Retirement, cash flow and budget planning
- Estate planning
- Tax planning and preparation
- Investment planning and consolidated reporting
- Insurance and risk management
- Preparation of annual and multi-year tax projections
- Tax planning for investments and wealth transfer
- Preparation of individual, family, trust and corporate tax returns
- Preparation of estimated quarterly tax payments
- Tax planning for charitable gifting
Cerity Partners Investment Philosophy
Cerity says it uses asset allocation to reduce risk in each client’s investment portfolio. The firm utilizes the following six asset classes: cash and cash equivalents, global fixed income, global equity, real return, hedge funds and private equity. Cerity also uses 16 sub-asset classes when developing client-specific allocations.
The firm provides the following five investment risk profiles for tax-exempt and taxable portfolios:
Cerity Partners Fees
Cerity’s management fee for its wealth management and investment advisory services is 1.50% per year of AUM. The firm says it calculates fees either quarterly in arrears or in advance depending on the client’s preferences. Below, we explore how much you may pay for investment management services at Cerity.
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. Fee amounts include minimum annual fee.|
|Estimated Investment Management Fees at Cerity Partners *|
|Your Assets||Cerity Partners Fee Amount|
Cerity Partners Awards and Recognition
Cerity has been named one of the Best Places to Work for Financial Advisors by InvestmentNews in 2021. It also ranked on the Financial Times’ Top 300 Registered Investment Advisors (RIAs) for five consecutive years (2015 to 2020). In 2018, 401(k) Specialist named the firm as a Top Advisor by Participant Outcomes. Cerity was also named as a 2020 Top 100 Retirement Plan Adviser by PLANADVISER.
What to Watch Out For
Opening an Account with Cerity Partners
You’ll have several options for getting in touch with Cerity. You can visit any of the firm’s offices, or you can contact a financial advisor at (212) 850-4260.
All information is accurate as of the writing of this article.
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