Kornerstone, Inc. (Chico)


Kornerstone, Inc. is a large advisory firm based in Chico. It manages $259.92 million of regulatory assets for 136 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of California.

Kornerstone provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Kornerstone: assets under management

The assets under management (AUM) of Kornerstone, Inc. is $259.92 million. The firm's AUM has grown by 53% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $258.48 million in discretionary accounts and $1.45 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.51 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $43.84 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 94% of the total AUM. The second-largest asset type is exchange traded securities, which make up 5% of the firm’s portfolio. Investments in cash and cash equivalents form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Kornerstone, Inc. for their services and products based on a percentage of assets under management and fixed fees. 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 Kornerstone serves?

The firm provides services to individuals, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Kornerstone is pension and profit sharing plans with 71 clients and $250.97 million of assets under management. Among the 9 most similar advisory firms, Kornerstone has the highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $258.8 million for 135 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.

Kornerstone doesn't advise any private funds.

Careers at Kornerstone, Inc.

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 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 receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Eric T Blofsky Co-founder and chief compliance officer 1 Jan 2014 75% - 100% 5508143

Based in Chico

The principal office where Kornerstone, Inc. performs its advisory services is located at 1811 Concord Ave., Chico, CA 95928 The mailing address of the firm is P.O. Box 6189, Chico, CA 95927. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 855-343-4015 or by fax 530-342-3925. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at kornerstone401k.com.