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Los Angeles-based Churchill Management Group provides investment management and financial planning services to individual and institutional investors. The firm offers several different investing strategies based on clients’ individual situations and risk tolerance, and its planners are typically certified financial planners (CFPs). Although there is generally no hard-and-fast investment minimum, the firm prefers to work with those with at least $750,000 to invest.
The bottom line: Churchill Management Group is an industry-recognized wealth manager that offers portfolio management and financial planning to individuals and institutional investors.
| Assets under management: $6,566,607,331 | |
| Minimum investment: $750,000 preferred | |
| Individual investor to advisor ratio: 133:1 | |
| Fee structure: A percentage of AUM | |
| Headquarters: 5900 Wilshire Boulevard, Suite 400 Los Angeles, CA 90036 Website: www.churchillmanagement.com Phone: 877-937-7110 |
All information included in this profile is accurate as of August 30, 2021. For more information, please consult Churchill Management Group’s website.
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Churchill Management Group was founded in 1963 and offers portfolio management and financial planning services to individuals and institutional investors. The firm is based in Los Angeles but has additional offices throughout the country. It has close to 60 employees on staff, over 40 of whom perform advisory functions.
The firm’s controlling owner is founder and CEO Fred Fern.
Churchill Management Group owner and CEO Fred Fern founded the firm in 1963 at the age of 25, without any formal training in investing. He has since amassed over 50 years of experience in multiple areas of the business, including securities and real estate investing, and economic and political analysis. He was a protégé of high-profile stockbroker William O’Neil.
Along with serving as CEO, Fern chairs the firm’s investment team, which manages all investing accounts for the firm.
The firm’s largest client base is high net worth individuals, although there are nearly as many individual investors without a high net worth. The firm prefers to work with clients with accounts of at least $750,000. Clients with at least $1 million in assets may invest in Chartwell Funds, the firm’s real estate investment fund, though the firm notes it may waive this minimum requirement at its discretion.
The firm provides clients with investment management services as well as financial planning. It also offers retirement plan services for plan sponsors. The firm typically manages money on a discretionary basis, meaning portfolio managers handle daily decision making for the account without having to check in with the client first.
Here is a full list of services that Churchill can provide:
Churchill believes that markets behave cyclically. The firm uses a largely active trading strategy, adjusting its approach based on where the markets are in any given cycle. Its investment team employs “top-down” analysis to make decisions about asset allocation, and a “bottom-up” approach when choosing individual investments within asset classes.
The firm creates portfolios based on each client’s individual goals and risk tolerance. Depending on a client’s specifics, it may employ one of four strategies:
Depending on the strategy used, portfolios may include:
Some clients may also invest in real estate partnerships, or Chartwell Funds, the firm’s real estate investment fund.
Churchill charges clients based on a percentage of assets under management for its services. The rate is negotiable, but the fee schedule for all portfolios – with the exception of the Maximum Tactical Growth Strategy – is as follows in the table below. The rate for clients in the Maximum Tactical Growth Strategy is 1.25%.
| Churchill Management Group Fee Schedule | |
|---|---|
| Account size | Annual rate |
| Under $750,000 | 1.20% |
| $750,000 or more and less than $2.5 million | 1.00% |
| Next $2.5 million | 0.80% |
| Next $5 million | 0.70% |
| Any remaining balance | 0.60% |
In addition to the fee that clients pay to Churchill, they may also owe additional transaction fees or brokerage commissions to third-party firms. Financial planning is typically included as part of the firm’s wealth management services.
Clients who terminate the relationship within the first six month will face a one-time account set-up fee of $1,000.
The firm doesn’t have any disciplinary events to disclose, which means that the firm has had a clean record for at least 10 years. All registered investment advisors must disclose any civil, regulatory or criminal actions against the firm, its advisors or its affiliates on their Form ADV, public documents that registered firms must file with the SEC.
For more information on the firm, you can visit its IAPD page.
Churchill has office locations in the following states:
Churchill Management Group may be the right firm for you if you have $750,000 or more to invest and would prefer an actively managed portfolio. If you have a lower account balance, however, or would prefer a more passive investing strategy, you may be better served by another firm.
As always, when searching for a financial advisor, it’s important to compare multiple options and ask advisors questions to ensure you’re finding someone to work with who can meet your needs. Before you make your decision, be sure to take the time to research multiple firms to ensure you find the right advisor for you.
The “Find a Financial Advisor” links contained in this article will direct you to webpages devoted to MagnifyMoney Advisor (“MMA”). After completing a brief questionnaire, you will be matched with certain financial advisers who participate in MMA’s referral program, which may or may not include the investment advisers discussed.
Beth BravermanBeth Braverman is a freelance writer covering personal finance, careers and parenting. Her work has appeared in dozens of publications, including CNN Business, CNBC.com and USNews.
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