Cheryl Morhauser & Associates

The firm provides personalized financial planning and ongoing investment management to individuals, small pension and profit‑sharing plans, trusts, estates, and charitable organizations, serving a small client base with roughly $22 million in assets under advisement. It operates as an independent, fee‑only adviser and offers both comprehensive financial plans and limited‑scope hourly engagements in addition to portfolio management.

Investment strategy centers on a diversified, strategic asset‑allocation approach that favors no‑load or low‑load mutual funds and ETFs (with selective use of individual stocks and bonds), using fundamental analysis and portfolio tools such as Kwanti; portfolios are buy‑and‑hold with rebalancing conducted as needed. Unusually for an independent adviser of this size, the firm manages all client assets on a non‑discretionary basis—trades are executed under a limited power of attorney only after clients review and approve recommendations.

Notable operational features include a solo, fee‑only structure with no commission income and individualized accounts rather than model portfolios or aggregated trades, accompanied by quarterly written reporting that details position performance and recommendations. The firm does not typically vote client proxies and generally channels custody and trade execution through a recommended custodian platform while retaining the ability to execute certain securities through other brokers, reflecting custody and execution arrangements that differ from many peers.