Using Kershner, Grosso & Company to achieve your financial goals has several advantages over using a broker or mutual fund. According to the SEC, a Registered Investment Advisor (RIA) like Kershner, Grosso & Company is considered a fiduciary. This means they must manage money for the benefit of someone else and therefore must place the client’s needs before their own. A Broker, on the other hand, is lawfully expected to provide the client with “suitable advice” but may place the needs of the broker-dealer relationship first. When comparing Kershner, Grosso & Company to Mutual Funds, Kershner, Grosso & Company clients have the advantage of flexibility. We structure each client's portfolio to that client’s needs, which can be very important as your needs may change in relation to taxes, children’s education, retirement, and so forth.
Looking at the last full market cycle, during 2008 and 2009 when the market fell precipitously our client retention rate was 99%. During the recovery of the last several years, our retention rate has been maintained at 99%. Our clients are very pleased with our service and rarely leave.
All our accounts are domiciled at Charles Schwab & Co. Each client has an account at Schwab, solely in their name and each security is always in the client’s name, never in Kershner Grosso’s name. Kershner, Grosso & Company selected Schwab because they have exceptional back office operations to service our clients and as well as incredibly low commission charges to by and sell securities.
When we place a trade in a client account, Charles Schwab sends the client a notification of what was purchased and the complete terms of the purchase. Each client also receives a monthly statement from Schwab listing each position and its value. All dividends and interest credited to the account is also reflected. Clients can also follow their accounts on-line with real-time account information.
Kershner, Grosso & Company’s minimum client size is $500,000 and may be comprised of several accounts such as cash accounts, retirement accounts, etc.
Kershner, Grosso & Company bills client accounts each quarter. The maximum fee is 1% of the portfolio value per year. The fee decreases for fixed income accounts or accounts over $1,000,000. We believe the fee structure aligns our interests with our clients interest. Our fee only grows as our clients’ portfolio grows.