Dobson Asset Management

Dobson Asset Management is a fee‑only investment management firm that primarily works with individuals who are on the cusp of or already in retirement and with small business pension trusts. The firm offers retirement planning and investment portfolio design, ongoing investment account management on both discretionary and non‑discretionary bases, and general financial consulting engagements.

Its investment process emphasizes evaluating third‑party money managers and deploying diversified portfolios using mutual funds, ETFs, separate account managers and, in some cases, individual stocks and bonds, typically through a strategic or static allocation with occasional tactical adjustments. Clients are involved in review meetings and performance reporting, most accounts are managed with trading authorization, and the firm generally avoids leverage and frequent short‑term trading.

Notable characteristics relative to peers include the use of multiple fee arrangements—fixed fees for planning, hourly billing for specific consulting, and percentage‑of‑AUM fees for ongoing management—which is uncommon for firms in this category, and a client mix that includes both non‑high‑net‑worth and high‑net‑worth individuals while also serving small pension plans; the brochure reports approximately $217.8 million under management for 158 clients. The firm operates as a fee‑only advisor, does not serve as a private fund adviser, and discloses a small ownership interest by its principals in a custodian, a potential conflict noted in the brochure.