Johnson Investment Counsel: Platform Profile

Overview

Johnson Investment Counsel is an SEC-registered investment adviser providing portfolio management, financial planning, retirement-related services, institutional management and other advisory services.

Current legal identity:

• Investment adviser: Johnson Investment Counsel, Inc.
• CRD: 117054
• SEC number: 801-60676

The most useful current pricing fact is the new-client schedule effective April 15, 2026:

• First 2m: 1.00%
• Next 3m: 0.80%
• Over 5m: 0.50%
• Schedule effective date: 2026-04-15

The percentages are breakpoint rates, not one flat household rate.

The firm also has important affiliated-fund, custody and referral relationships that should remain visible in the review rather than being compressed into a headline fee percentage.

May fit better for

• households seeking investment management and ongoing financial planning together;
• investors comfortable delegating day-to-day portfolio decisions;
• clients who value in-house research and portfolio management;
• households needing retirement, tax, estate, charitable or family-office coordination;
• clients who want a fee-only advisory relationship;
• eligible investors seeking guidance on private-fund opportunities;
• clients comfortable with third-party custody and the disclosed Schwab referral relationship.

May fit less well for

• investors seeking a low-cost algorithm-only robo account;
• active self-directed traders who want to approve every trade;
• users who want one flat public fee regardless of asset level;
• clients who want no affiliated mutual-fund relationships;
• investors who assume the advisory percentage is the complete investment cost;
• clients who need daily liquidity from every private investment.

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The current new-client schedule is 1.00%, 0.80% and 0.50%

Current 2026 brochure:

• First 2m: 1.00%
• Next 3m: 0.80%
• All assets thereafter: 0.50%
• Schedule progressive or breakpoint based: Yes

Johnson charges 0.50% once a portfolio exceeds $5 million.

That wording can imply the 0.50% rate applies retroactively to the entire balance.

The review should explain that the lower percentage applies to assets in the later band under the current new-client schedule.

The April 15, 2026 schedule is not universal to every legacy relationship

Current disclosure states that clients with established relationships before the effective date, along with some institutional and family-office accounts, can have different schedules.

Current brochure does not support one universal hard wealth minimum

The fee table begins with the first $2 million, but that is a pricing breakpoint.

It is not enough by itself to establish that every retail relationship must have $2 million.

Johnson's current prospect form accepts asset-range responses below $1 million, reinforcing why the review should not invent a $2 million opening minimum from the fee table.

Fees are billed semi-annually in arrears

Current disclosure:

• Billing frequency: semi-annually
• Billing timing: in arrears
• Standard billing dates:
• June 30
• December 31
• Average daily balance method: Yes

Alternative billing can be established by agreement, so do not state that no exceptions exist.

Johnson Mutual Funds require a double-fee

Johnson is adviser to affiliated Johnson Mutual Funds Trust.

Current disclosure says Johnson Mutual Funds held in managed portfolios should not be subjected to both the ordinary Johnson advisory fee and the fund expense ratio on the same assets. The firm describes an advisory-fee credit equivalent to the applicable Johnson fund expense ratio for portfolio assets invested in those funds.

This does not mean every mutual fund in a Johnson-managed account is cost-free. Unaffiliated funds and other products can have their own expenses.

Private-fund guidance is available

Johnson's current Form CRS states that the firm offers guidance on private-fund investment opportunities in addition to public securities and other instruments.

Custody is external and not universal

Johnson's disclosures identify qualified-custodian relationships that can include Charles Schwab, Fidelity, U.S. Bank and affiliated Johnson Trust Company depending on the relationship.

Johnson Trust Company and Johnson Investment Counsel are distinct legal roles even though they are affiliated.

Schwab Advisor Network creates a referral conflict

Johnson participates in Schwab Advisor Network and can receive client referrals through the program.

That relationship can create an incentive to recommend or maintain applicable assets at Schwab.

State the economic incentive without concluding that Schwab custody is unsuitable.

Johnson does not charge performance-based advisory fees

Current brochure:

• Performance based fee: No

Assessment

Johnson's current fee disclosure is relatively clear for new clients, but the review should not stop at the three percentages.

The more meaningful due-diligence points are:

• the April 15, 2026 effective date;
• legacy and special-account exceptions;
• semiannual arrears billing based on average daily balances;
• the affiliated Johnson Mutual Funds fee-credit mechanism;
• private-fund guidance;
• the Schwab referral relationship;
• custodian separation.