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|
Learn more about advisors' typical costs here.
What to Watch Out For
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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