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Fiduciary Counselling Review

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One thing that stands out about Fiduciary Counselling, Inc. is that the firm has a relatively small number of advisors managing billions in assets under management (AUM). 

Fiduciary Counselling is a fee-only firm serving an array of individual and institutional clients. For its advisory services the firm charges asset-based fees, hourly fees and fixed fees.

The firm also ranks No. 5 on our list of the top financial advisors in Minnesota

Fiduciary Counselling Background

Fiduciary Counselling was established in 1941. In addition to its primary advisory services, the firm also has a servicing agreement with Clearwater Management Co., Inc. This allows Fiduciary Counselling to provide compliance and administrative services for the Clearwater Investment Trust and private investment funds. 

M. Julie McKinley is the firm’s principal owner, president and chief executive officer (CEO). 

Fiduciary Counselling Client Types and Minimum Account Sizes

Fiduciary Counseling serves individuals, high-net-worth individuals, trusts, charitable organizations, corporations and other businesses.

The firm doesn’t have a minimum account size requirement, but it requires a minimum annual fee of $1,000 for foundations and individuals older than 21 and a minimum annual fee of $250 for individuals younger than 21, custodial accounts, minority trusts and certain other types of accounts.

Services Offered by Fiduciary Counselling

Fiduciary Counselling offers the following services:

  • Portfolio management
  • Financial planning
  • Selection of other advisors
  • Educational seminars/workshops
  • Investment strategy and allocation advice

Fiduciary Counselling Investment Philosophy 

Fiduciary Counselling says it helps its clients align their investment portfolios with their long- and short-term goals. In managing portfolios, the firm regularly employs diversification, rebalancing, tax-loss harvesting and other strategies. 

Fiduciary Counselling utilizes several different asset types, including exchange-traded equity securities, non-exchange-traded equity securities, securities issued by registered investment companies or business development companies, securities issued by pooled investment vehicles, cash, cash equivalents and other investments.

Fiduciary Counselling Fees

This firm has an annual fee schedule that applies to all of its accounts. This fee schedule is the same for investment advisory, estate planning, accounting, tax, financial planning, trust and charitable administration services. See below:

FCI Annual Fee Schedule
Amount of assets Annual fee
$0 - $500,000 0.625%
$500,001 - $1,000,000 0.625%
$1,000,001 - $2,000,000 0.600%
$2,000,001 - $5,000,000 0.550%
$5,000,001 - $10,000,000 0.390%
$10,000,001 - $20,000,000 0.300%
$20,000,001 - $25,000,000 0.280%
$25,000,001 - $50,000,000 0.250%
$50,000,001 - $75,000,000 0.220%
$75,000,001 - $100,000,000 0.170%
$100,000,001 - $200,000,000 0.100%
$200,000,001 - $300,000,000 0.080%
$300,000,001 and above 0.060%

 

*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 Fiduciary Counselling*
Your Assets Fiduciary Counselling Fee Amount
$500K $3,125
$1MM $6,000
$5MM $19,500
$10MM $30,000 

Learn more about advisors' typical costs here.

What to Watch Out For

Overall, Fiduciary Counselling doesn’t present much to be concerned about. The firm’s Form ADV lists zero disclosures, and its advisors don’t charge any hidden fees. 

Opening an Account with Fiduciary Counselling 

You can set up an account with Fiduciary Counselling by visiting the firm’s office, or by calling a representative at (651) 228-0935.

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

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How Long $1mm 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 We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

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%. 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