Concord Investment Counsel is an independent registered investment advisor founded in 1989 and based in St. Louis, Missouri. The firm manages customized investment portfolios mainly for high net worth individuals and families. This article will take an objective look at both the pros and cons of Concord investments based on industry reviews and client experiences, with the goal of providing an unbiased review to help investors make an informed decision about whether this firm is suitable for their needs. We will cover key factors such as fees, assets under management, investment philosophy, client service, and portfolio performance.
Concord’s fee structure is competitive for high net worth investors
Concord investments target high net worth individuals as clients, with account minimums starting at $500,000. The standard fee schedule is a flat 1% on the first $2 million, scaling down to 0.50% on assets above $10 million. This is quite competitive compared to other RIAs managing customized portfolios for high net worth investors. The flat fee avoids hidden charges based on trade commissions. However, investors with less than $500,000 to invest would likely find the minimums and fees prohibitively high at Concord.
Long-term patient investing philosophy prioritizes risk management
Concord describes itself as having a long-term patient investing philosophy, focused on managing risks and generating consistent returns across market cycles. The firm favors individual stocks over mutual funds for the core equity exposure, stating this provides greater flexibility to make tax-efficient adjustments. Portfolios are broadly diversified across sectors, market caps, geographic regions and asset classes, following the principles of Modern Portfolio Theory. While Concord seems to take a prudent risk-management approach suitable for conservative investors, some more growth-oriented investors may find the strategy overly cautious if they expect to beat market returns over time.
Solid track record over decades with focus on limiting losses
Concord has over three decades of operating history managing client assets. The firm reports that its balanced SMA composite strategy has outperformed the market since inception in 1991, with annualized returns of 9.81% versus 9.71% for the S&P 500 over the same period. The strategy also protected better during market downturns, with lower volatility and maximum drawdowns. Concord’s long-term results appear competitive, with a disciplined process that focuses on managing risks and limiting losses during turbulent markets. However, in bull market periods, Concord’s returns lagged more aggressive managers chasing maximum growth.
Overall, Concord Investment Counsel is a reputable RIA with a prudent investment approach focused on risk management, particularly suited for conservative high net worth investors prioritizing capital preservation over maximizing returns. The fee schedule is competitive for accounts over $500,000, though too high for smaller investors. For suitable investors, Concord represents a time-tested option for customized portfolio management.