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|
|$2.5MM - $5MM||0.750%|
|$5MM - $10MM||0.625%|
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|
Learn more about advisors' typical costs here.
What to Watch Out For
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.
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