NorthCoast Asset Management is an investment advisor that has been managing its own investment strategies for years.
Northcoast is a fee-based firm serving thousands of individual clients. The registered investment advisor (RIA) offers a vast selection of advisory services surrounding financial planning, investment management and family office services.
NorthCoast Asset Management Background
NorthCoast Asset Management (founded as Kovitz Investment Group, LLC) is based in Chicago, but the firm has offices in 18 other cities throughout the country, from California to Florida.
Its advisors hold several certifications, including the Certified Financial Planner™ (CFP®), chartered financial analyst (CFA), certified public accountant (CPA) and chartered retirement planning counselor (CRPC) designations.
NorthCoast Asset Management Client Types and Minimum Account Sizes
NorthCoast Asset Management works with non-high-net-worth and high-net-worth individuals, investment companies, pooled investment vehicles, pension and profit-sharing plans, charities, other investment advisors, corporations, not-for-profits and estates.
While the firm doesn't have a set minimum account size requirement, it typically prefers clients to have at least $1 million to invest.
Services Offered by NorthCoast Asset Management
NorthCoast Asset Management offers discretionary investment management services to individuals and institutions, focusing on tailored portfolios of equities and fixed-income securities. The firm also offers specialized services through its various offices, including equity-focused strategies, retirement plan advisory and family office services.
It should be noted that financial planning is included as part of investment services, but is not available to everyone. The firm will determine who's eligible on a case-by-case basis.
NorthCoast Asset Management Investing Philosophy
NorthCoast Asset Management takes a disciplined, long-term approach to investing, emphasizing capital preservation and minimizing downside risk. Their equity strategy is grounded in a "business owner" mindset, where stocks are purchased only when their price is significantly below the intrinsic value of the company. They prioritize investing in industry-leading, well-capitalized companies with competitive advantages, while maintaining patience to let market values align with their analysis.
NorthCoast emphasizes a long-term horizon, aligning with client interests and focusing on maximizing long-term net worth rather than short-term gains. Their fixed income strategy focuses on wealth preservation by constructing bond portfolios that add stability to client portfolios, purchasing bonds at favorable prices through diligent execution and managing risk through bond diversification and credit quality assessments.
NorthCoast Asset Management Fees
NorthCoast Asset Management charges investment management fees that are generally negotiated on a case-by-case basis, based on factors such as the size of the account and the complexity of the services provided. Most clients pay quarterly fees in arrears, calculated based on the account’s net asset value at the end of each quarter. Certain legacy clients may pay asset-based strategy fees that vary depending on the investment strategy selected.
NorthCoast also manages accounts through third-party wrap fee programs, where trading and advisory costs are bundled into a single fee. However, NorthCoast does not sponsor its own wrap fee program, and in limited cases clients may still incur additional trading costs if trades are executed outside the wrap sponsor’s platform.
What to Watch Out For
According to its latest filings with the Securities and Exchange Commission (SEC), NorthCoast Asset Management has no legal or disciplinary disclosures to report.
Something worth noting, though, is that financial advisors at NorthCoast have a financial incentive to make certain recommendations, like investing in one of the firm's affiliated hedge funds or other private placements. While this is a conflict of interest, advisors have a fiduciary duty to provide recommendations in their clients' best interests.
Opening an Account with Kovitz Investment Group Partners
You can set up an account with Kovitz by either visiting one of its offices or contacting the firm at (203) 532-7000.
All information is accurate as of the writing of this article.
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