What does Johnson Investment Counsel do?
Johnson Investment Counsel, Inc. is registered with the Securities and Exchange Commission as an investment adviser.
The firm has provided advisory services since 1965 and of December 31, 2024, it reported $20.62 billion in discretionary assets and $255.11 million in non-discretionary assets under management (AUM).
What are Johnson Investment Counsel’s key services?
- Portfolio management for individuals or institutions: The investment range covers equities, debt securities, mutual funds and other investment company securities, US government and municipal securities, options and futures, and certain alternative or partnership-style investments, including private fund opportunities.
- Financial planning services: This planning work extends into retirement and cash flow,income tax, estate planning and trust services, and charitable planning, making the relationship broader than investment management alone.
- Selection of other advisers: For clients, this means the firm may select, retain, or replace third-party managers for an account when that fits the portfolio approach.
- Pension consulting services: Johnson provides pension consulting services, adding retirement-plan consulting to its broader advisory business.
- Mutual fund services: Johnson also offers mutual fund services, extending its advisory platform beyond individual and family wealth management.
The firm also offers family office services for ultra-high-net-worth families. This service is more tailored than its standard wealth management offering and is geared toward clients with more complex planning, asset, and coordination needs.
Main clients
- Individuals and families
- Investment companies
- Pension and profit-sharing plans
- Trusts and estates
- Charitable organizations
- Corporations and other business or governmental entities
What is Johnson Investment counsel’s investment philosophy?
Johnson’s investment philosophy is broad rather than tied to a single style.
It uses a mix of quantitative, cyclical, asset allocation, and fundamental analyses and is not limited to a long-term buy-and-hold approach.
Depending on the account, the firm may also use shorter-term purchases, trading, or option writing, with portfolio decisions aligned to each client’s objectives, risk tolerance, time horizon, liquidity needs, and other suitability factors.
What are the pros and cons of Johnson Investment Counsel?
Johnson Investment Counsel’s strengths lie in its advisor-led service, broad planning support, and ongoing portfolio management. Its drawbacks include being to self-directed investors, and may involve added fee layers in some accounts.
Here’s a summary of the key advantages and disadvantages to guide your choice.
Pros of Johnson Investment Counsel:
- Advisor-led wealth management: Johnson’s core retail service is built around human advisors, ongoing account monitoring, and discretionary portfolio management rather than a brokerage or self-directed model.
- Broad planning support: The service goes beyond portfolio management by including financial planning, which expands that into retirement and cash flow planning, income tax planning, estate planning and trust services, and charitable planning.
- Wide investment range: Johnson’s advisory service covers a broad menu of investments, including equities, debt securities, investment company securities, U.S. government and municipal securities, options, futures, partnership interests, and private fund opportunities.
- Ability to use third-party managers when needed: The firm can select, retain, or replace third-party managers for client accounts, which adds flexibility to the portfolio management process.
- Automated option is available: Johnson also offers the Johnson Intelligent Portfolios Program, an automated program that uses ETF and mutual fund portfolios, automatic rebalancing, and tax-loss harvesting for eligible clients who elect it.
Cons of Johnson Investment Counsel:
- Not a simple self-directed service: Johnson’s main offering is designed around ongoing advisory relationships and discretionary management, so it is less oriented to investors looking for a purely self-directed investing experience.
- Costs can extend beyond the advisory fee: In addition to Johnson’s asset-based advisory fee, clients may also pay custodial fees, fund-related fees, transaction charges, brokerage fees and commissions, and separate advisory fees charged by third-party money managers.
- The minimum for the automated program: Johnson’s automated investing program requires at least $5,000 to get started. That makes it less accessible for investors who want to begin with a smaller amount.
- Broader service mix may be more than some investors need: Johnson’s wealth management and family office materials focus on high-net-worth individuals, families, and ultra-high-net-worth families with broader planning needs, so it may not be the best fit for investors who only want basic portfolio management.
Johnson Investment Counsel fees: How much does Johnson Investment Counsel cost?
Johnson Investment Counsel mainly uses a tiered asset-based fee structure for portfolio management.
Fees are generally billed semi-annually in arrears, and some related family accounts may be combined for breakpoint purposes.
Beyond the advisory fee, total client costs can also include other investment and account-level expenses.
Portfolio management fee schedule
Clients should also expect additional investment-related costs beyond Johnson’s advisory fee, including fund expenses, transaction charges, brokerage fees, custodial charges, and, where applicable, separate fees charged by third-party managers.
What is Johnson Investment Counsel’s minimum account size?
Johnson Investment Counsel does not publicly disclose a standard minimum account size for its main advisor-led wealth management service.
The stated minimum is $5,000 for the Johnson Intelligent Portfolios Program, giving the automated offering a defined entry point. By contrast, no standard minimum is disclosed for the firm’s main advisor-led service.
Who should choose Johnson Investment Counsel?
Johnson Investment Counsel is best suited to investors who want an advisor-led wealth management service rather than a self-directed investing experience. It is well-suited to clients who value ongoing portfolio management, financial planning, and broader planning support alongside investment oversight.
Johnson Investment Counsel works well for:
- Investors who want ongoing advisor support: Johnson suits investors who want an advisor to manage and monitor their portfolio on an ongoing basis.
- Clients who want both investing and planning: Johnson suits investors who want portfolio management and financial planning in one service.
- Families with broader planning needs: It suits families who want investment management alongside retirement, tax, estate, trust, or charitable planning.
- Ultra-high-net-worth families: Johnson may also suit ultra-high-net-worth families with more complex wealth and planning needs through its family office service.
- Investors comfortable delegating decisions: Johnson suits investors who are comfortable handing portfolio decisions to an advisor.
Who might not benefit as much:
- Self-directed investors: Johnson is less suited to investors who want to manage their own portfolios.
- Investors who prefer simpler investment exposure: Johnson may be less suitable for investors who only want basic portfolio construction, given its wider investment menu and
- Investors focused mainly on keeping costs and entry requirements simple: Johnson’s advisory fee may be only one part of the total cost, and the automated program also requires a $5,000 minimum to get started.
- Investors who want a fully digital service: Johnson may be less suitable for investors who want to handle everything online, since its main service is built around working with advisors rather than a fully digital experience.
Johnson Investment Counsel: Is it secure?
Yes, Johnson Investment Counsel can generally be viewed as secure in the sense that it is SEC-registered, and uses qualified custodians to hold client assets.
The main security measures described in the disclosures include:
- Qualified custodians hold client assets: It does not have physical custody of client funds and securities, which are held with a bank or broker-dealer, including qualified custodians such as Johnson Trust Company, U.S. Bank, Schwab, Fidelity, or another qualified custodian.
- Direct custodian statements: Clients receive account statements directly from the custodian at least quarterly, creating an external record of account holdings and activity.
- Privacy safeguards: The firm uses physical, electronic, and other safeguards to protect personal information, limits access to employees and service providers who need it and requires third-party service providers to keep client information confidential by contract.
- Annual surprise audit: It undergoes an annual audit by a qualified accounting firm.
Johnson Investment Counsel: Customer service
Johnson Investment Counsel’s customer service is centered on an advisor-led experience rather than a digital-first support model.
The main service relationship is built around direct contact with an advisor, which is likely to suit clients who want ongoing personal support instead of handling everything through an app or self-service platform.
The firm also provides phone, fax, email form, office contact details, and it is serving clients in all 50 states, pointing to a practical service setup with nationwide reach.
Johnson Investment Counsel: Mobile app
Johnson Investment Counsel’s mobile app is a client account app rather than a digital-first investing platform. It is centered on core account functions such as secure login, portfolio value viewing, account balance checks, activity tracking, and allocation review, so it works more as a monitoring tool than a stand-alone investing experience.
From a user perspective, the app is best suitedfor existing clients who want a convenient way to keep track of portfolio information between advisor interactions. It is useful for account viewing and portfolio tracking, but it does not appear to be the main access point to the service.
Is Johnson Investment Counsel worth it?
Johnson Investment Counsel may be worth considering for investors who want an advisor-led wealth management service with ongoing portfolio management and integrated planning support. Its main strengths are the breadth of planning available alongside investment management, its fit for clients who value a managed relationship and its ability to serve clients with more complex needs.
The main drawbacks are that it is less suited to self-directed or digital-first investors, and total costs may be higher once additional account, fund, or third-party manager fees are taken into account.
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