We are a full service securities brokerage firm clearing transactions through Pershing, LLC. Pershing executes ten percent of all trades done on the New York Stock Exchange. We also investment advisors registered with the state of California and working through Schwab. JKR was incorporated in the State of California in November, 1979.
Our Services include:
- Mutual Funds
- Retirement Accounts
- Asset Allocation
- Managed Accounts
The firm specializes in managed accounts for both personal and retirement accounts and asset allocation provided by a Certified Financial Planner™. JKR is a member of the FINRA and SIPC. Our investment professionals have decades of experience in money management and asset allocation.
J. Kemp Richardson, former president and owner, has been in investment business since April 1969. He graduated from USC in 1968 with a B.S. in Finance. He started with Eastman Dillon and was with the major securities firms until starting JKR in 1979. Kemp has been on the board of California Association of Independent Broker Dealers (CAIBD) since 1996.
As a registered investment adviser JKR is held to a fiduciary standard. We have the duty always to put our clients’ interests before our own, by providing disinterested advice and disclosing any material conflicts of interest to our clients as disclosed herein.
INVESTMENT/ ASSET MANAGEMENT: Our investment adviser representatives (“IARs”) may provide advisory services in the form of investment management services. Investment management services involve providing clients with continuous and ongoing supervision over client accounts. This means that IARs continuously monitor a client’s account and make trades in client accounts when deemed necessary. JKR customizes clients’ portfolios according to their individual risk tolerance, time horizon, and specific goals.
Our IAR’s will assist clients in determining their objective(s), investment strategy, and investment suitability, prior and subsequent to opening an asset management account. Clients must contact us to notify of any changes in their investment objective(s) and/or financial situation.
JKR provides its clients with a range of investment management services including, but not limited to: Assessment of the client’s investment needs and objectives; development of an asset allocation strategy designed to meet the client’s objectives; recommendations on suitable style allocations; identification of appropriate investments and investment vehicles suitable given the client’s goals; evaluation of investments meeting style and allocation criteria; review of client accounts to ensure adherence to client guidelines and asset allocation; recommendations for account rebalancing, if necessary; and reporting of client account(s) performance and progress.
IARs will provide the client with some or all of the above-referenced investment advisory services based on the type of account and the client’s individual needs.
Client assets managed by JKR are held in accounts at a non-affiliated registered broker-dealer and qualified custodian, who will provide clearing, custody and other brokerage services for client accounts. While JKR may assist the client in completing the custodian’s paperwork, the client is ultimately responsible for providing all of the necessary information to establish the account. Clients will retain all rights of ownership on the accounts, including the right to withdraw securities and cash, vote proxies, and receive transaction confirmations.
FINANCIAL PLANNING AND CONSULTING: JKR offers financial planning and consulting services to clients in several areas of an individual’s financial situation, depending on their goals, objectives and financial situation. Generally, such financial planning services involve preparing a formal written financial plan or rendering a specific financial consultation based on the client’s financial goals and objectives. This planning or consulting may encompass one or more areas of need, including but not limited to: investment planning, retirement planning, income tax planning, cash flow, and debt planning, compensation and employee benefits planning, estate planning, insurance planning and other areas of a client’s financial situation.
A financial plan developed for or financial consultation rendered to the client will usually include general recommendations for a course of activity or specific actions for the client to undertake. For example, recommendations may be made that the client start or revise their investment programs, begin or alter retirement savings, establish education savings and/or revise charitable giving programs. For certain financial planning engagements, JKR will provide a written summary of the client’s financial situation, observations, and recommendations. For consulting or ad-hoc engagements, JKR may not provide a written summary. Plans or consultations are completed in less than six months of contract date, assuming the client provides all information and documents promptly.
JKR may include financial planning related services without separate compensation as part of our overall wealth management services or in limited circumstances, we may provide financial planning as a stand-alone service. We describe fees charged for financial planning services below under Item 5: Fees and Compensation.
Conflict of Interest Statement (California Code of Regulations, 1 O CCR Section 260.235.2) When multiple services are offered, there is a conflict of interest since there is an incentive for the party offering financial planning services to recommend products or services for which JKR, or a related party, may receive compensation. Clients are under no obligation to act upon JKR’s recommendations, and, if the client elects to act on any of the recommendations, clients are under no obligation to effect the transaction through JKR.
RETIREMENT PLAN SERVICES: JKR provides retirement plan services that are intended to assist clients in understanding the scope of their fiduciary duties and responsibilities, guide them in the development of prudent practices and procedures to enable them to discharge their duties and responsibilities, and document their actions and decisions. JKR offers the following services that assist plan sponsors in the:
- Development of an investment policy statement (IPS) that establishes the investment policies and objectives for the plan;
- Development of recommended asset allocations and portfolio modeling, consistent with the IPS;
- Selection of specific investment holdings to fulfill the recommended asset allocation;
- Periodic rebalancing of assets to maintain the recommended asset allocation;
- Monitoring and measuring investment performance on a periodic basis to maintain adherence to the IPS, including possibly recommending changes to the selected investments;
- Monitoring, selecting and supervising service vendors, including coordination of any transition between such vendors; and
- Understanding the fiduciary responsibilities as a plan sponsor.
JKR also provides plan fiduciaries with a periodic report that scores the investment options in each asset class and conducts meetings to discuss investment reports and recommendations.
JKR provides advice and recommendations; however, the plan sponsor will retain final decisionmaking authority.