Cornerstone Financial Group (CFG) of Omaha, Nebraska, specializes in asset management and financial planning services for individuals. The firm's financial advisors also provide fiduciary retirement account services to corporate plan sponsors.
The firm is only registered with state securities authorities in Nebraska and Iowa.
Cornerstone Financial Group Background
CFG has been offering investment management services since 1996. It was last registered with the Securities and Exchange Commission (SEC) in 2012. As noted above, it is currently registered as an investment advisor only in Nebraska and Iowa.
The firm is owned by David Hoppen and Spencer Schwarting.
Cornerstone Financial Group Client Types and Minimum Account Sizes
CFG serves the following types of clients:
- Non-high-net-worth and high-net-worth individuals
- Pension and profit-sharing plans
- Trusts, estates and charitable organizations
- Corporations and other business entities
CFG doesn’t require any minimum account sizes for its investment advisory services.
Services Offered by Cornerstone Financial Group
CFG creates, monitors and rebalances investment portfolios on behalf of its clients. It also provides individual financial planning services, which can involve the following topics:
- Tax planning
- Retirement planning
- Investing
- Asset allocation modeling
- Estate planning
In addition, the firm can provide fiduciary advisory services to plan sponsors of corporate retirement plans such as 401(k)s. The firm can assist with investment menu selection and monitoring, due diligence review and participant education.
Cornerstone Financial Group Investment Philosophy
CFG engages in specific investing strategies that it finds suitable to the client’s risk tolerance, financial goals and other variables. The firm generally recommends investing in mutual funds and exchange-traded funds (ETFs), but may turn to other securities if it deems them appropriate.
When evaluating securities, the firm may engage in various research strategies including fundamental analysis. This strategy involves studying everything that may affect a security’s value from overall economic and industry conditions to the financial health of a company and its management structure.
Fees Under Cornerstone Financial Group
CFG charges hourly or fixed fees for financial planning services. Hourly fees usually extend up to $500. Fixed fees refer to written plans and can range from $500 to $9,000, depending on the complexity of the plan. The firm requires one half of the fee to be paid upfront and the remainder to be paid after plan delivery.
When it comes to asset management sevices, the firm charges based on the following fee schedule:
| Asset Management Fee Schedule | |
| AUM | Annual Fees |
| $0 - $1,000,000 | 1.00% |
| $1,000,000 - $5,000,000 | 0.80% |
| $5,000,000 - $10,000,000 | 0.65% |
| Above $10,000,000 | 0.50% |
If you're thinking of working with Cornerstone, here's roughly what you can expect to pay:
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Investment Management Fees at Cornerstone Financial Group* | |
| Your Assets | Cornerstone Financial Group Fee Amounts |
| $500K | $5,000 |
| $1MM | $10,000 |
| $5MM | $42,000 |
| $10MM | $74,500 |
What to Watch Out For
CFG has no disclosures to report in its latest SEC filings.
As noted earlier, the firm is no longer registered with the SEC. Instead, its advisors can work only with clients in states where it is registered, which is Nebraska and Iowa.
Opening an Account With Cornerstone Financial Group
To contact CFG, call them over the phone. The firm currently has no website. You can also visit the firm in person at its Omaha offices.
All information was accurate as of the writing of this article.
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