Frequently Asked Questions
Straight answers about how we work
What we do, how we are regulated, what it costs, and how to verify all of it independently.
About the firm
Who we are and how we are regulated
What is Vann Equity Management?
Vann Equity Management, LLC is an independent investment adviser registered with the U.S. Securities and Exchange Commission under the Investment Advisers Act of 1940. The firm was founded in 2015 and is headquartered in Plano, Texas, with a second office in Austin.
We manage separately managed equity accounts and tactical asset-allocation portfolios for individuals, institutions, endowments, and family offices.
Is Vann Equity Management a broker-dealer or a registered investment adviser?
Vann Equity Management is a registered investment adviser. It is not a broker-dealer, and it is not registered with FINRA. The firm is registered with the SEC and is governed by the Investment Advisers Act of 1940.
The distinction matters: investment advisers owe clients a fiduciary duty, while broker-dealers operate under a different standard and a different regulator.
Source: Form CRS · Form ADVIs Vann Equity Management a fiduciary?
Yes. When we act as your investment adviser, we are required to act in your best interest and not put our interests ahead of yours.
At the same time, the way we make money creates some conflicts with your interests, and you should understand and ask us about them. For example, certain managers or sponsors of investments share with us revenue they earn on those portfolios, which gives us an incentive to recommend them. Our conflicts are described in Items 12 and 14 of our Form ADV Part 2A.
Source: Form CRSWhere is Vann Equity Management located?
Plano, Texas (headquarters)
4975 Preston Park Blvd, Suite 490, Plano, TX 75093
Austin, Texas
11824 Jollyville Rd, Suite 500, Austin, TX 78759
Phone: 214-983-0346 · Email: info@vannequitymanagement.com
What services does Vann Equity Management provide?
We provide investment advisory services on a discretionary basis, which means we are authorized to select the securities bought and sold in your account, consistent with the objectives and restrictions you set. We also provide financial planning, investment consulting, and retirement plan services.
Our investment advice generally covers equities, debt, options, futures, and mutual funds. Other firms could provide advice on a wider range of choices, some of which might have lower cost.
Source: Form CRSWhat investment strategies does Vann Equity Management offer?
The firm maintains the following GIPS composites:
- US Large Cap Growth Equity (SMA)
- US Large Cap Value Equity (SMA)
- International ADR Equity (SMA)
- Index Advantage Global ETF
- Index Advantage International ETF
- Index Advantage Small/Mid ETF
- REIT Equity
- Structured Notes
A full list of composite descriptions is available on request. Details for each are published in our GIPS composite report.
Source: GIPS composite reportWhat are Vann Equity Management's fees?
For asset management, we charge an annual fee based on a percentage of the market value of the assets we manage. Our standard fee is 1.25% per year. The published schedule in our Form ADV Part 2A permits up to 1.50% on accounts valued at $50,000,000 or less; above that, fees are negotiable.
Fees are negotiable, and the exact fee you pay will be stated in the advisory agreement you sign. The asset-based fee is deducted from your account and billed quarterly, whether or not you buy or sell during that period.
Financial planning and consulting are charged as a fixed fee or hourly. Retirement plan fees are negotiated case by case. Clients invested through certain platforms or through a sub-adviser are charged under a different schedule, set out in Item 5 of our Form ADV Part 2A.
Other costs apply in addition to our advisory fee. These include transaction fees and third-party costs such as custodial fees, wire and electronic fund fees, and internal expenses of funds you hold. Clients on certain platforms or using certain sub-advisers pay additional platform or sub-advisory fees. All of these are described in Item 5 of our Form ADV Part 2A.
You will pay fees and costs whether you make or lose money on your investments, and they reduce any amount you make over time.
Source: Form ADV Part 2A · Form CRSIs there an account minimum?
Minimums depend on the type of portfolio:
- Asset allocation models — $40,000
- Unified Managed Account Program — $50,000
- Separately managed equity portfolios (US Large Cap Growth, US Large Cap Value, International ADR) — $250,000
We may waive a minimum at our sole discretion, so if you are close to a threshold it is worth asking. Full detail is in our Form CRS and Form ADV Part 2A.
Source: Form CRSIs Vann Equity Management GIPS verified?
Vann Equity Management claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented its composite report in compliance with the GIPS standards.
The firm has been independently verified for the periods June 1, 2018 through December 31, 2025. The verification report is available upon request. Verification assesses whether the firm has established policies and procedures for complying with the GIPS standards, and whether those policies and procedures have been implemented on a firm-wide basis — it does not provide assurance on any specific performance report.
Past performance is not indicative of future results.
Source: GIPS composite reportHow can I independently verify Vann Equity Management's registration?
Free and simple tools are available at investor.gov/CRS, a website maintained by the SEC, to research firms and financial professionals — including registration status, business history, and any legal or disciplinary history. The SEC's adviser database at adviserinfo.sec.gov carries our current Form ADV.
Our Form CRS, Form ADV Part 2A, and GIPS composite report are also published on this site.
Source: Form CRSGeneral guidance
Understanding investment management
These answers are educational and apply to any adviser, not only to us.
What is a separately managed account, and how is it different from a mutual fund?
A separately managed account (SMA) is a portfolio of individual securities owned directly by you, managed by an investment adviser according to a stated strategy. A mutual fund, by contrast, is a pooled vehicle: you own shares of the fund, and the fund owns the securities.
The practical differences follow from that ownership distinction. In an SMA you can see every individual holding, the cost basis is yours, and gains and losses are realized based on your own transactions rather than the fund's. That direct ownership also allows the portfolio to be tailored — for instance, excluding a security you already hold heavily elsewhere. Mutual funds generally offer lower minimums and simpler administration.
What does “GIPS verified” mean?
The Global Investment Performance Standards are a voluntary set of ethical principles, maintained by CFA Institute, governing how investment managers calculate and present performance. Their purpose is comparability: two GIPS-compliant firms should be presenting returns on the same basis.
Compliance is claimed by the firm. Verification is different — an independent third party assesses whether the firm's composite construction and its policies and procedures meet the standards, across a stated period. Verification applies to the firm as a whole, not to any single composite, and it does not certify that a particular performance figure is accurate.
Most investment managers do not undergo verification, so it is worth asking any adviser whether they claim compliance, whether they have been verified, and for which periods.
How do I check whether a financial adviser is actually a fiduciary?
Ask directly, then verify. Registered investment advisers owe a fiduciary duty under the Investment Advisers Act; broker-dealers operate under Regulation Best Interest, which is a different standard.
- Look the firm up on adviserinfo.sec.gov and check whether it is registered as an investment adviser, a broker-dealer, or both.
- Read the firm's Form CRS — a short, plain-English document every firm must publish.
- Ask how the firm and the individual are compensated, and what conflicts that compensation creates.
- Ask whether the fiduciary duty applies to the entire relationship or only to particular recommendations.
What questions should I ask before hiring an investment manager?
The SEC suggests these conversation starters, and they are a reasonable place to begin with any firm:
- Given my financial situation, should I choose an investment advisory service? Why or why not?
- How will you choose investments to recommend to me?
- What is your relevant experience, including your licenses, education, and other qualifications — and what do those qualifications mean?
- Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
- How might your conflicts of interest affect me, and how will you address them?
What is tactical asset allocation?
Strategic asset allocation sets long-term target weights across asset classes and rebalances back to them. Tactical asset allocation permits deliberate, temporary deviations from those targets in response to changing market or economic conditions, with the intention of returning toward the strategic baseline.
The approach depends on the manager's judgment being right often enough to justify the deviation, and it carries the risk that a tactical position detracts from returns rather than adding to them.
What is the difference between fee-only, fee-based, and commission compensation?
These terms are close enough in sound to be confusing, and the difference matters.
- Fee-only — the firm is paid solely by its clients, and receives no third-party compensation of any kind.
- Fee-based — the firm charges client fees but may also receive some third-party compensation, such as revenue sharing from certain product sponsors.
- Commission — compensation comes from transactions or product sales.
Each arrangement creates different incentives, and none is automatically better; what matters is that the arrangement is disclosed and that you understand the conflicts it creates. Any firm's Form ADV and Form CRS describe how it is paid.
Vann Equity Management is fee-based. Our compensation comes principally from the advisory fees our clients pay us, and certain managers or sponsors of investments also share with us revenue they earn on those portfolios. That arrangement is described in Items 12 and 14 of our Form ADV Part 2A and summarised in our Form CRS.
Still have a question?
If your question isn't answered here, we would rather you asked than guessed.
Contact us