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Eagle Asset Management Review

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Eagle Asset Management

Eagle Asset Management, Inc. is a fee-only registered investment advisor (RIA) headquartered in St. Petersburg, Florida. The financial advisor currently has more than $29 billion in assets under management (AUM) with a total of 31,935 clients.

Eagle Asset Management Background

Founded in 1976, Eagle Asset Management has since provided investment management services to investment managers, institutional and individual clients. The firm is a subsidiary of Carillon Tower Advisors, which is also a Florida-based RIA. Eagle Asset Management is also the owner of its own subsidiary and RIA, Eagle Boston Investment Management, Inc.

What Types of Clients Does Eagle Asset Management Accept?

Eagle Asset Management’s clients include high-net-worth and non-high-net-worth individuals, institutional separate accounts, equity strategies, fixed income strategies, balanced strategies and smaller employee benefit plans. The firm also provides services to retail private client separate accounts, affiliated mutual funds (Carillon Funds), unaffiliated mutual funds, wrap program clients, unified managed account program sponsors and private investment funds.

Eagle Asset Management Minimum Account Sizes

Eagle Asset Management requires a $2,000,000 account minimum for institutional separate accounts, but the firm also retains the discretion to waive these fees. For performance-based accounts, the firm generally requires a $2,000,000 account minimum. For private client separate accounts invested in equity strategies, the account minimum is usually $100,000. Private separate accounts invested in fixed income strategies, however, may have an account minimum ranging from $350,000 to $1 million. Retail equity accounts generally come with a $100,000 minimum, while retail income accounts come with a $200,000 minimum. Investors in the firm’s private investment funds may experience minimums ranging from $250,000 to $2.5 million.

Services Offered by Eagle Asset Management

  • Institutional Account Services
    • Corporate Pension Plans
    • Public Funds
    • Foundations
    • Endowments
    • Tax-exempt entities 
    • Mutual funds
    • Registered investment companies
  • Investment Advisory Services
    • Equity Accounts
      • Large Cap
      • Small/Mid Cap
      • International American Depositary Receipt (ADR)
    • Fixed Income Accounts
      • Taxable fixed income
      • Tax-advantaged fixed income
    • Speciality
      • Strategic Income Portfolio
      • Vertical Income Portfolio

Investment Philosophy

Eagle Asset Management believes in incorporating intelligence, experience and conviction into all of its investment management services. The firm explains its approach as one that works to build investment portfolios that generate long-term return. Eagle Asset Management also assigns independent research teams to specific investment strategies. The firm may vary investment strategies to meet market conditions, and it also considers the material risks associated with each strategy.

Among the firm’s top priorities is idea generation and proprietary research. Eagle Asset Management touts on its website that each of its portfolio managers have an average of 25 years of investment experience. Along with the firm’s long-term approach to client success, Eagle Asset Management says it strives to meet each client’s specific portfolio needs.

Fees Under Eagle Asset Management

Eagle Asset Management charges advisory fees on a quarterly basis. The fee value is based on an investor’s AUM on the last day of each calendar quarter. But for some accounts, such as mutual funds, advisory fees are based on average daily assets. Eagle Asset Management’s fee schedule is divided into four categories: Large cap equity, small and mid cap equity, balanced or fixed income. For the Micro Cap Equity account, Eagle Asset charges a fixed account management fee of 1.15%. 

The firm also serves as a sub-advisor to accounts like mutual funds or variable annuity separate accounts. But the fee schedule for such accounts differs from those shown below. Eagle Asset Management also charges fees for either sub-advisory or advisory services to Carillon funds, unaffiliated mutual funds, unified managed account programs, retail wrap programs and private investment funds. For these accounts, the fees are either specified, non-negotiable or negotiable between Eagle Asset Management and the client of the fund or account it’s sub-advising. 

Large Cap Equity:

Amount of Assets Management Fee
Under $25,000,000 0.65%
Between $25,000,000 and $50,000,000 0.55%
Between $50,000,000 and $150,000,000 0.50%
Greater than $150,000,000 0.40%

Small and Mid Cap Equity:

Amount of Assets Management Fee
Under $10,000,000 0.95%
Between $10,000,000 and $25,000,000 0.90%
Between $25,000,000 and $75,000,000 0.85%
Between $75,000,000 and $150,000,000 0.80%
Greater than $150,000,000 0.75%

Balanced:

Amount of Assets Management Fee
Under $5,000,000 0.60%
Between $5,000,000 and $15,000,000 0.55%
Between $15,000,000 and $25,000,000 0.50%
Between $25,000,000 and $50,000,000 0.45%
Greater than $150,000,000 0.35%

Fixed Income:

Amount of Assets Management Fee
Under $2,000,000 0.40%
Between $2,000,000 and $10,000,000 0.30%
Between $10,000,000 and $50,000,000 0.25%
Greater than $50,000,000 0.20%

What to Watch Out For

Eagle Asset Management specifies the fees for institutional and separate accounts, but the fees for accounts the firm sub-advises may be specified, negotiable, or in some cases, non-negotiable. But it’s also important to note that the firm also retains the discretion to waive certain fees. 

Though Eagle Asset Management oversees accounts with full investment discretion, clients may be able to place certain transaction restrictions on their accounts. Specifically, a client may instruct the firm to sell or avoid selling a particular security, if it’s for the reason of realizing a capital loss or avoiding a capital gain.

The firm does have disclosures on its record, explained in full below.

Disclosures

The firm does have regulatory action-related disclosures but no criminal disclosures. Most notably, in 2016 the firm and two of its affiliates were found to have failed in enforcing policies and procedures to detect the reporting of suspicious transactions. The Financial Industry Regulatory Authority (FINRA) also found its affiliates in violation of other laws. FINRA resolved the case by ordering a censure and a fine of $17,000,000.

Opening an Account With Eagle Asset Management

Investors interested in opening an account with Eagle Asset Management can do so through two ways. You can either visit the firm’s physical address, or you can set up an appointment over the phone at (800)237-3101. The firm also lists the contact information of firm representatives and advisors. 

Where is Eagle Asset Management Located?

Eagle Asset Management is headquartered in Saint Petersburg, Florida, at 880 Carillon Pkwy.

Tips for Saving for Retirement

  • There are many ways to save for retirement. This includes employer-sponsored retirement plans, pension funds, investment accounts or personal savings funds. But if you want to actually meet your retirement savings goals, you’ll need a long-term plan. SmartAsset’s retirement calculator can give you a better idea of the steps necessary for living out your ideal retirement. 
  • SmartAsset’s financial advisor matching tool can pair you with up to three local advisors who suit your savings goals. All you’ll need to do is complete a short questionnaire about your financial situation, and you’ll match with advisors who can answer any questions you may have. 

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

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