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 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%|
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.
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