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Meritage Portfolio Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Named one of the top-rated financial advisory firms of 2021 in CNBC's "FA 100," Meritage Portfolio Management, Inc. is a financial advisor firm with billions in client assets under management (AUM). It is headquartered in Overland Park, Kansas and is rated as one of the top 10 firms in the state and city by SmartAsset.

The fee-only firm offers such services as tailored investment management, goal-specific financial planning and consulting. 

Meritage Portfolio Management Background 

Meritage Portfolio Management was established in 1991 under the name Eveans, Bash, Magrino and Klein, Inc. Two of the firm's original founders — president and chief investment officer (CIO) Mark Eveans and senior portfolio manager James Klein — remain with the firm to this day. They are each principal owners, with Leonard C. Mitchell, director of growth equity management, and Sharon L. Divine, director of quantitative research, owning minority stakes.

In total, this firm's staff boasts seven chartered financial analysts (CFAs), two chartered insurance counselors (CICs), two certified public accountants (CPAs) and two certified financial planners (CFPs).

Meritage Portfolio Management Client Types and Minimum Account Sizes

Meritage Portfolio Management works primarily with individual clients, about three-quarters of whom have a high net worth. The firm also works with a few institutional clients, including pooled investment vehicles, retirement plans, charitable organizations, government entities, businesses and separate advisors.

The firm imposes a $2 million minimum account size, though the firm may waive this requirement at its discretion.

Services Offered by Meritage Portfolio Management

Meritage Portfolio Management provides both discretionary and non-discretionary investment management services, employing a selection of equity, taxable fixed-income and tax-exempt fixed-income strategies. While most of its fixed-income strategies are fairly low-risk, its equity strategies can range from conservative to aggressive.

This firm's financial planning services are largely investment-focused. These typically relate to asset allocation planning, risk tolerance determination, cash flow needs analysis and income planning.

Meritage Portfolio Management Investing Philosophy

Meritage Portfolio Management looks to tailor its investment philosophy to the individual needs of each client. At the start of each relationship, the firm meets with the client to determine their investment goals, risk tolerance, time horizon and other important insights into their financial situation. The firm then selects a certain strategy for a client or range of strategies that are the best fit for them.

In general, Meritage uses a values-based approach to investing. In its case, that means the firm prefers companies that "generate strong free cash flow," according to its SEC-filed Form ADV. With an eye towards these types of investments, the firm consistently evaluates more than 6,500 equities in order to find the ones that it believes are selling below their possible long-term value. The firm also looks to diversify clients' assets so as to mitigate any unnecessary risk.

Additionally, Meritage has designed the following five distinct investment strategies:

  • Meritage Value Equity
  • Meritage Growth Equity
  • Meritage Yield-Focus Equity
  • Meritage Small-Cap Value Equity
  • Meritage Small Cap-Growth Equity

Fees Under Meritage Portfolio Management

Fees at Meritage Portfolio Management are based on a percentage of the market value of each client's total AUM. The firm calculates and bills these fees quarterly, in advance. The current fee schedule goes as follows:

Meritage Portfolio Management Fee Schedule
Account Size Annual Fee
First $2.5MM 0.875%
$2.5MM - $5MM 0.750%
$5MM - $10MM 0.625%
Above $10MM 0.500%

Here is the estimated dollar amount you'd pay in advisory fees based on the size of your account:

*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 Meritage Portfolio Management*
Your Assets Meritage Portfolio Management Fee Amounts
$500K $4,375
$1MM $8,750
$5MM $40,625
$10MM $71,875

Learn more about advisors' typical costs here.

What to Watch Out For

Meritage Portfolio Management did not have any disclosures of legal or disciplinary events on its most recent Form ADV.

Opening an Account With Meritage Portfolio Management

Those looking to open an account with Meritage Portfolio Management should go to the firm's website and submit a contact form. As an alternative, you can call the firm at (913) 345-7000.

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

Tips for Saving for Retirement

  • Don't go it alone. A financial advisor can be a great help. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Opening a 401(k) is one of the easiest ways to save for retirement, as contributions are automatically taken out of your paycheck and sometimes employers add a contribution match. For those that are unsure as to what the balance of their account might look like come retirement, stop by SmartAsset's 401(k) calculator to find out.

How Long $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 We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We 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 metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. 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.