The idea behind the name of our firm, Cáritas (“Charity” in Latin), informs every decision and activity, respecting our clients’ objectives and putting their interests–and those of the greater community–first. At Cáritas we remove the task of money manager selection and remove the cost of hiring a third-party consultant. Our indexing approach enables the client to not spend time assessing which asset class or money manager to invest in, saving time and money in the process.
And as a registered financial fiduciary, there is no need for third-party consultants such as Wellington, Cambridge, or BNY Mellon, costly independent advisors which get paid to find money managers and guide board decisions. These fees can lead to net underperformance, and when you add the time required to regularly evaluate mutual fund and advisor performance, it usually leads to more unnecessary time and money spent.
As a registered investment advisor with the SEC, we are a fiduciary obligated to place the interests of our clients first, and we take the responsibility of properly stewarding client assets, removing this obligation from the foundation’s board of directors. Our multi-basket indexing approach permits board members to focus on grant-making, distributing funds to the nonprofits they believe in, and striving to achieve positive social impact.
Depending upon account size, our fees range from between 0.20% to 0.40% per year, which includes quarterly advisor consultations and portfolio reviews, as well as regular reviews of the Investment Policy Statement to ensure the portfolio is in compliance with risk and suitability covenants. And if the client wishes to focus solely on Socially Responsible Investing (SRI), we can utilize dozens of low-fee ETFs in the SRI space. We will assist your board in designing the optimal blend of broad market ETFs as per the board’s particular mandate. And Cáritas gives 10% of your fee revenue to the 509(a)1 or 501(c)3 organization of your choice.