Hall Capital Partners is a fee-only financial advisor firm. The San Francisco-based firm employs a small team of advisors and doesn't manage that many accounts. The services at Hall Capital Partners are generally based on purpose-driven investment management, and the vast majority of the firm’s clients are high-net-worth individuals and families. The firm is on SmartAsset's lists of the top financial advisors in San Francisco, top financial advisors in California, and top financial advisors in the U.S.
As a fee-only firm, all of Hall Capital's compensation comes from client-paid fees. On the other hand, a fee-based firm would receive client-paid fees and third-party commissions for things like insurance sales.
Hall Capital Partners Background
Hall Capital Partners opened its doors in 1994. The firm is owned by five of its executives: CEO, co-CIO, Co-Chair and Founder Kathryn Hall; Co-Chair John Buoymaster; Managing Partner and co-CIO Eric Alt; and Managing Partners Simon Krinsky and Sarah Stein. The firm’s team includes several chartered financial analysts (CFAs).
One thing that sets this firm apart from many other firms is that it was founded by a woman, Kathryn Hall. Hall is still a part-owner of the firm and is active at her alma mater, Princeton.
Hall Capital Partners Client Types and Minimum Account Sizes
Most of the firm’s AUM belongs to high-net-worth individuals. Though the firm specializes in serving affluent individuals, its client base extends beyond that. It also works with families, foundations, endowments, charitable organizations, investment advisors, pension plans, profit-sharing plans and pooled investment vehicles.
Hall Capital Partners generally seeks a minimum amount of $150 million in investment assets for multi-asset class portfolios. However, the firm does implement the following minimum annual fees:
- $500,000 for most accounts
- $350,000 for accounts that include a performance-based fee
These high minimum fees mean that it will generally only be a good choice for high-net-worth clients.
Services Offered by Hall Capital Partners
Hall Capital Partners’ services are angled more towards investment management than different types of financial planning, like retirement planning. Check out the firm’s full list of services below:
- Investment management
- Investment philosophy customization
- Multi-asset class investing
- Underlying manager selection
- Global asset allocation
- Portfolio accounting
- Proprietary research team
- Full Consequence Investing®
- Long-term considerations
- Environmental issues
- Business model sustainability
- Socially conscious decision-making
- Long-term considerations
- Client service and reporting
- Holistic full-service team for each client
- Regular portfolio reviews and investment reports
Hall Capital Partners Investment Philosophy
Like most financial advisor firms, Hall Capital Partners considers clients’ risk tolerance, time horizon, liquidity needs and financial objectives when building their portfolios. However, the firm still maintains its own investment principles, which are first and foremost grounded in a long-term mindset. As is indicated in the services listed above, the firm also takes into account a variety of outside factors, including environmental, social and governance factors and sustainability issues.
High-net-worth investors typically want capital growth, but asset protection is also a priority. To satisfy both needs, Hall Capital emphasizes diversification, not just nationally but on a global scale. This includes allocating assets across different areas of the market and among various investment types. Fixed-income securities, equities, private equity, hedge funds and real assets are just some of the investments that Hall Capital Partners typically uses in client portfolios.
Fees Under Hall Capital Partners
Hall Capital Partners has two fee schedules: one for base-fee-only accounts and another for base-fee-plus-performance-fee accounts. Clients with base-fee-only accounts are charged an asset-based fee and they’ll also be responsible for management fees, performance fees, brokerage fees, transaction fees and custodian fees.
|Base Fee-Only Accounts|
|Client AUM||Annual Fee|
The annual rates associated with the firm’s base-fee-plus-performance-fee accounts are slightly lower. However, clients using this fee schedule may be subject to additional fees based on their portfolio’s performance. The firm charges a 10% performance fee if a client’s assets experience at least 8% growth beyond the portfolio’s high watermark, or all-time high.
|Base Fee + Performance Fee Accounts|
|Client AUM||Annual Fee|
Hall Capital Partners institutes minimum annual fee requirements for each of its account types. More specifically, it charges a minimum annual fee of $500,000 for its base-fee-only accounts and a minimum annual fee of $350,000 for its base-fee-plus-performance-fee accounts.
Clients are charged on a quarterly basis. You can choose to either have these fees billed to you, or you can have them directly withdrawn from your assets under the firm’s management.
What to Watch Out For
Hall Capital Partners has had no disclosures on its record in the past ten years.
For the most part, when a firm includes performance-based fees within its fee schedule, that presents a potential conflict of interest. This is because advisors could be incentivized to take more risks to generate higher returns in order to earn this extra compensation. However, Hall Capital Partners and its advisors are fiduciaries, meaning they are legally bound to act in clients’ best interests, no matter what.
Opening an Account With Hall Capital Partners
The best way to reach Hall Capital Partners to open a new account is by calling the firm at (415) 288-0544. You can also choose to visit one of the firm's offices in person.
All information is accurate as of the writing of this article.
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