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Private Client Services 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.

Private Client Services (PCS) touts on its website that it’s a totally independent, privately-owned broker-dealer and investment advisor firm. PCS is registered with the U.S. Securities and Exchange Commission (SEC) and is also a member of both the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).

The fee-based firm earns its compensation from asset-based fees, hourly fees and fixed fees, but some advisors also earn commissions for selling investment products to advisory clients. 

The firm’s staff includes advisors with the certified anti-money laundering specialist (CAMS) designation.

Private Client Services Background

PCS was established as an independent registered investment advisor (RIA) in 2001. The firm specializes in an array of wealth management and investment management offerings, and it also provides brokerage services. 

The firm’s principal shareholders are Ernest A. Sampson and KFG Enterprises, Inc. 

Private Client Services Client Types and Minimum Account Sizes

Private Client Services serves individuals, high-net-worth individuals, families, trusts, estates, charitable organizations, pension plan sponsors, corporations and other businesses. 

The firm generally requires a $50,000 account minimum, but reserves the right to waive this minimum. 

Services Offered by Private Client Services

Private Client Services provides the following advisory services:

  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Educational seminars/workshops

Private Client Services Investment Philosophy 

PCS has investment advisor representatives (IARs) that all act independently of each other and use their own investment methods and resources to make investment decisions. However, PCS says it still provides each IAR with a strategic asset allocation framework. And the firm employs several methods, including fundamental analysis, technical analysis, mutual fund and exchange-traded fund (ETF) analysis and third-party asset manager analysis.

PCS also uses long-term purchases, short-term purchases, trading, margin transactions and option writing. 

Private Client Services Fees

PCS offers fixed fee and hourly fee compensation arrangements for its financial planning and consulting services. For financial planning, hourly fees range from $100 to $500, while fixed fees range from $250 to $25,000. Consulting services come with hourly fees ranging from $100 to $500. Fixed fees for this service range from $250 to $5,000. 

The firm provides the following fee schedules for portfolio management:

PCS Asset Allocation, Private Wealth Management adn Advisor Model Portfolios Fee Schedule
Amount of assets Maximum annual fee
$50,000 - $249,999 2.00%
$250,000 - $499,999 1.75%
$500,000 - $999,999 1.50%
Over $1,000,000 1.25%

Learn more about advisors' typical costs here.

What to Watch Out For

It’s important to consider a firm’s disclosure record before opening an account. PCS has one regulatory action disclosure listed on its record. The action, which stemmed from the firm allegedly failing to comply with the conditional registration of an agent, took place in 2011 and was resolved with a $1,000 fine.

Another thing worth noting is that PCS advisors can earn additional compensation from securities sales. Advisors who sell products for commissions may become incentivized to recommend commissioned products with higher fees. This can create a conflict of interest, but PCS says it abides by a fiduciary duty. 

Opening an Account with Private Client Services

You can set up an account with PCS by visiting the firm’s office or by calling an advisor at (502) 451-0600. You can also fill out the firm’s contact form on its website.

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

Retirement Planning Tips for Beginners

  • Social Security plays an important role in the amount of income you get in your later years. The Social Security benefits you receive are based on a number of factors, including income, birth year and Social Security election age. Our Social Security calculator can help you determine how much you’ll get in payments. 
  • 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. 

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.