Bruton Chisnell is an investment adviser providing financial planning, consulting, and investment
management services. Prior to engaging Bruton Chisnell to provide any of the foregoing investment
advisory services, the client is required to enter into one or more written agreements with Bruton Chisnell
setting forth the terms and conditions under which Bruton Chisnell renders its services (collectively the
“Agreement”).
Bruton Chisnell has been in business as an investment adviser since January 2018, when the firm
purchased substantially all the assets and liabilities of Bruton Financial Advisors, LLC, which had been in
business as a registered investment adviser since June 2004. James M. Bruton, Benjamin C. Bruton,
and Michael A. Chisnell, Jr. are the principal owners of Bruton Chisnell. Bruton Chisnell had
$644,459,532 in assets under management as of January 31, 2024, of which $420,534,500 was
managed on a discretionary basis and $223,925,032 on a non-discretionary basis.
This disclosure brochure describes the business of Bruton Chisnell. Certain sections will also describe
the activities of Supervised Persons. Supervised Persons are any of Bruton Chisnell’s officers, partners,
directors (or other persons occupying a similar status or performing similar functions), or employees, or
any other person who provides investment advice on Bruton Chisnell’s behalf and is subject to Bruton
Chisnell’s supervision or control.
Financial Planning and Consulting Services
Bruton Chisnell may provide its clients with a broad range of comprehensive financial planning and
consulting services (which may include non-investment related matters). These services are tailored to
the individual needs of the client.
In performing its services, Bruton Chisnell is not required to verify any information received from the client
or from the client’s other professionals (e.g., attorney, accountant, etc.) and is expressly authorized to rely
on such information. Bruton Chisnell may recommend the services of itself, its Supervised Persons in
their individual capacities as registered representatives of a broker-dealer, and/or other professionals to
implement its recommendations. Clients are advised that a conflict of interest exists if Bruton Chisnell
recommends its own services. The client is under no obligation to act upon any of the recommendations
made by Bruton Chisnell under a financial planning or consulting engagement or to engage the services
of any such recommended professional, including Bruton Chisnell itself. The client retains absolute
discretion over all such implementation decisions and is free to accept or reject any of Bruton Chisnell’s
recommendations. Clients are advised that it remains their responsibility to promptly notify Bruton
Chisnell if there is ever any change in their financial situation or investment objectives for the purpose of
reviewing, evaluating, or revising Bruton Chisnell’s previous recommendations and/or services.
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Investment Management Services
Clients can engage Bruton Chisnell to manage all or a portion of their assets on a discretionary or non-
discretionary basis.
The firm primarily allocates clients’ investment management assets among Independent Managers (as
defined below) and mutual funds, and to a lesser extent among exchange-traded funds (“ETFs”),
individual debt and equity securities as well as the securities components of variable annuities and
variable life insurance contracts in accordance with the investment objectives of the client. Bruton
Chisnell also provides advice about any type of investment held in clients' portfolios, but clients should not
assume that these assets are being continuously monitored or otherwise advised on by the Firm unless
specifically
agreed upon.
Bruton Chisnell also may render non-discretionary investment management services to clients relative to
variable life/annuity products that they may own, their individual employer-sponsored retirement plans,
and/or 529 plans or other products that may not be held by the client’s primary custodian. In so doing,
Bruton Chisnell either directs or recommends the allocation of client assets among the various investment
options that are available with the product. Client assets are maintained at the specific insurance
company or custodian designated by the product.
Bruton Chisnell tailors its advisory services to the individual needs of clients. Bruton Chisnell consults
with clients initially and on an ongoing basis to determine risk tolerance, time horizon and other factors
that may impact the clients’ investment needs. Bruton Chisnell ensures that clients’ investments are
suitable for their investment needs, goals, objectives and risk tolerance.
Clients are advised to promptly notify Bruton Chisnell if there are changes in their financial situation or
investment objectives or if they wish to impose any reasonable restrictions upon Bruton Chisnell’s
management services.
Use of Independent Managers
As mentioned above, Bruton Chisnell recommends that certain clients authorize the active discretionary
management of a portion of their assets by and/or among certain independent investment managers
(“Independent Managers”), based upon the stated investment objectives of the client. The terms and
conditions under which the client engages the Independent Managers are set forth in a separate written
agreement between Bruton Chisnell or the client and the designated Independent Managers. Bruton
Chisnell renders services to the client relative to the discretionary and/or non-discretionary selection or
recommendation of Independent Managers. Bruton Chisnell also monitors and reviews the account
performance and the client’s investment objectives. Bruton Chisnell receives an annual advisory fee
which is based upon a percentage of the market value of the assets being managed by the designated
Independent Managers.
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When recommending or selecting an Independent Manager for a client, Bruton Chisnell reviews
information about the Independent Manager such as its disclosure brochure and/or material supplied by
the Independent Manager or independent third parties for a description of the Independent Manager’s
investment strategies, past performance and risk results to the extent available. Factors that Bruton
Chisnell considers in selecting or recommending an Independent Manager include the client’s stated
investment objectives, management style, performance, reputation, financial strength, reporting, pricing,
and research. The investment management fees charged by the designated Independent Managers,
together with the fees charged by the corresponding designated broker-dealer/custodian of the client’s
assets, may be exclusive of, and in addition to, Bruton Chisnell’s investment advisory fee set forth above.
As discussed above, the client may incur additional fees than those charged by Bruton Chisnell, the
designated Independent Managers, and corresponding broker-dealer and custodian.
In addition to Bruton Chisnell’s written disclosure brochure, the client also receives the written disclosure
brochure of the designated Independent Managers. Certain Independent Managers may impose more
restrictive account requirements and varying billing practices than Bruton Chisnell. In such instances,
Bruton Chisnell may alter its corresponding account requirements and/or billing practices to
accommodate those of the Independent Managers.
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