Kempner Capital Management, Inc. (KCM) is registered with the Securities and Exchange Commission (SEC) as an investment adviser. Brokerage and investment advisory services and fees differ and it is important for you to understand these differences. Free and simple tools are available to research firms and financial professionals at https://www.Investor.gov/CRS, which also provides educational materials about broker-dealers, investment adviser, and investing.
What Investment Services & Advice Can You Provide Me?
Relationships & Services
We offer investment advisory services to retail investors, which includes buying and selling securities for your portfolio(s) that align with your investment objectives, ongoing supervision of the assets we manage for you and quarterly reporting on your positions and portfolio(s). KCM manages equity portfolios using a value style, but we also offer fixed income advice and management generally utilizing U.S. full faith and credit Government obligations. In addition, we manage a publicly-traded equity mutual fund (FIKDX). Our standard services include ongoing review, selection, monitoring and rebalancing your investments on an ongoing basis according to your objectives. We have discretionary authority over your accounts, where we place trades without your preapproval.
Account Minimums and Other Requirements: We negotiate minimum account size on a case by case basis but do not differentiate our services based on the amount of your fees or size of your account.
Conversation Starters: Why should I choose an investment advisory service? How will you choose investments recommended for my account? What is your relevant experience, including your licenses, education and other qualifications? What do thesequalifications mean?
What Fees Will I Pay?
Fees, Costs, Conflicts, & Standard of Conduct
Our standard fee schedule for managing accounts is based on the previous quarter-end market value of the portfolio and is negotiable. You will receive a quarterly invoice and you have the option of paying the investment advisory fees from your custodial account. The more assets there are in your account, the more you will pay in fees, and we may have an incentive to encourage you to increase assets in your account. For investment advisory services that we provide to the mutual fund, we charge an annual management fee which is included in the internal expenses of the Fund. You are also responsible for additional fees and expenses associated with your account, such as custodial fees, brokerage commissions and wire fees.
Additional Information. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. Please see Form ADV, Part 2A brochure (Specifically Item 5, and other applicable documents) https://adviserinfo.sec.gov/firm/summary/104784
What are Your Legal Obligations to Me When Acting as My Investment Adviser? How Else Does Your Firm Make Money and What Conflicts of Interest Do You Have?
When we act as your investment adviser, we must act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. For example, our revenue comes from fees for managing your account(s) and for managing a mutual fund. Different clients and family entities pay different fees, creating a conflict of interest with our clients, as we could be incented to pay more attention to the accounts paying higher fees. This is mitigated by using the same investment strategy for equity accounts and a fixed income strategy for the fixed income accounts. All accounts are monitored by the Investment Committee and the Chief Compliance Officer for consistency
Conversation Starters: How might your conflicts of interest affect me, and how willyou address them?
How Do Your Professionals Make Money?
Our professionals are paid salaries and are eligible to receive bonuses based on the profitability of the Firm.
Do You or Your Financial Professionals Have Legal or Disciplinary History?
No. Visit https://Investor.gov/CRS for a free and simple search tool to research us and our financial professionals.