Cornerstone Advisors, LLC (Topeka)

Name: Cornerstone Advisors, LLC
Address: 6540 Sw 10 Th Avenue, Topeka, KS, 66615
Telephone: 785-273-2685

Cornerstone Advisors, LLC is a large advisory firm based in Topeka. It manages $161.69 million of regulatory assets for 1,074 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Colorado, Kansas, Missouri, Nebraska, and Texas.

Cornerstone Advisors provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Cornerstone Advisors: assets under management

The assets under management (AUM) of Cornerstone Advisors, LLC is $161.69 million. The firm's AUM has grown by 175% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $120.63 million in discretionary accounts and $41.06 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $150.41 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $150.95 thousand.

Cornerstone Advisors has custody of $21.21 million in cash and securities for 13 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 64% of the total AUM. The second-largest asset type is exchange traded securities, which make up 24% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cornerstone Advisors, LLC for their services and products based on a percentage of assets under management and hourly charges. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Ralph Bradshaw serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Ralph Bradshaw is high net worth individuals with 144 clients and $101.68 million of assets under management. Among the 9 most similar advisory firms, Cornerstone Advisors has the 4th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $161.69 million for 618 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Cornerstone Advisors doesn't advise any private funds.

Careers at Cornerstone Advisors, LLC

The company employs 4 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 4 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Ralph Bradshaw has been acting as President since 1 Jan 2019. Daniel William Bradshaw joined the executive team most recently as the Vice President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Donald Gene Schwart	Pres./managing member	1 Jun 1998	75% - 100%	416174
Inc. Schwart Financial Services	Corporation	1 Dec 2000	Other	48-1019661
M. Danyse Ford	Chief compliance officer	1 Jul 2005	Other	4025484
Daniel William Bradshaw	Vice president	1 Jan 2019	Other	5944371
The Cornerstone Trust Dtd 1/29/2019	Sole member/manager	1 Jan 2019	75% - 100%	35-7228358
Ralph Bradshaw	President	1 Jan 2019	Other	2366278
Joshua Grant Bradshaw	Vice president	1 Jan 2019	Other	7076349
Rachel Leanne Mcnabb	Cco	1 Jan 2019	Other	6609491

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Donald Gene Schwart	Owner	1 Aug 1982	75% - 100%	xxx-xx-xxxx
Deborah Bell Bradshaw	Trustee	1 Jan 2019	Other	7076371
Caleb R Bradshaw	Trustee	1 Jan 2019	Other	5762416

Based in Topeka

The principal office where Cornerstone Advisors, LLC performs its advisory services is located at 6540 Sw 10 Th Avenue, Topeka, KS 66615, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 785-273-2685 or by fax 785-273-1641. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at cstonegroup.com.