Callahan Investment Advisor, LLC

Callahan Investment Advisor, LLC provides fee-based investment management and financial planning primarily for individual and high-net-worth clients, with services described to include financial goal setting, cash flow and tax planning, retirement and estate planning, and investment management. The firm notes it does not sell annuities or other commissioned insurance products and does not sponsor wrap fee programs.

The firm operates with a non-discretionary asset management model: it determines securities and target allocations but obtains client approval prior to executing trades, and is deemed to have constructive custody only because custodians deduct advisory fees. Its stated methods include fundamental, technical and cyclical analysis, and strategies can range from long-term holdings to short-term trading and option writing (including covered and uncovered options).

A distinctive feature is that nearly all client assets are managed on a non-discretionary basis—an uncommon arrangement among independent peers—while the firm also generally leaves proxy voting to clients unless assistance is requested. The brochure discloses that the lead advisor holds CFP and ChFC credentials, has a background at major broker-dealers, and that the firm participates in an institutional custody program that provides broker-related benefits which may present potential conflicts of interest.