Updated:
Kilner Capital Advisors
Peter J. Kilner established Kilner Capital Advisors in 2006, building a fee-only registered investment adviser in Gaithersburg, Maryland. The firm operates as...
Kilner Capital Advisors
Peter J. Kilner established Kilner Capital Advisors in 2006, building a fee-only registered investment adviser in Gaithersburg, Maryland. The firm operates as a personal chief investment officer for its clients, many of whom are high-net-worth individuals, retirement plans, and small corporations. Kilner's approach rests on the idea that investment planning cannot be separated from tax planning, so the firm's service model bundles the two from intake through ongoing allocation. Kilner Capital Advisors constructs globally diversified portfolios spanning equities, fixed income, and alternative investments, with tactical tilts driven by a client's tax situation rather than by a standalone market view. The firm does not market proprietary funds. It selects third-party mutual funds, exchange-traded funds, and separately managed accounts across large-cap domestic, international developed, emerging-market, and investment-grade bond exposures. Where a client's tax bracket and liquidity needs permit, Kilner layers in REITs and private real estate funds for yield and inflation sensitivity. Its geographic footprint concentrates on US-based investors, but underlying portfolios reach developed Europe, Japan, and select emerging markets through core-satellite architecture. The firm is a boutique practice. Peter Kilner leads investment decisions and client relationships personally, supported by a small team of operations and advisory professionals. Adjacent vehicles, such as a charitable giving platform or a multi-family-office club, are not part of Kilner's public structure. The firm’s Form ADV filings show steady but modest growth, consistent with a practice that scales through referrals rather than institutional marketing. Kilner's structural differentiator is its combination of fiduciary status with a tax-first portfolio design. Unlike wealth managers who treat tax-loss harvesting as an overlay, Kilner integrates tax planning into the strategic-asset-allocation decision, so that a taxable trust and a tax-deferred retirement account holding the same risk budget receive entirely different vehicles — a configuration more often found in larger single-family offices.
General information
Firm type
Bank / Wealth / Trust
Year founded
2006
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Gaithersburg
Corporate office
Gaithersburg, MD, United States
Principals
Peter J. Kilner
Founder and President
Frequently asked questions
Who runs investment decisions at Kilner Capital Advisors?
Founder and President Peter J. Kilner leads all investment decisions. He brings decades of advisory experience and holds the certifications common among fee-only planners. The firm operates with a lean team model, so clients interact directly with the principal rather than with a layered committee structure.
How is Kilner Capital Advisors compensated, and what does that mean for its investment recommendations?
Kilner operates on a fee-only basis, charging clients a percentage of assets under management. It does not earn commissions, revenue-sharing, or kickbacks from fund companies. This fiduciary structure removes the incentive to push in-house products or high-commission vehicles, and it permits Kilner to select third-party funds and ETFs strictly on cost and tax fit.
Does Kilner Capital Advisors offer proprietary funds?
No. The firm builds portfolios from externally managed mutual funds, exchange-traded funds, and separately managed accounts. Avoiding proprietary products keeps Kilner free to terminate a holding when the manager underperforms or when a more tax-efficient option becomes available, without a firm-level conflict of interest.
Is tax planning a separate service or integrated into portfolio management at Kilner Capital Advisors?
Tax planning is integral to every portfolio decision, not a separate consulting engagement. Kilner selects holdings and account types based on each client's marginal rate, trust structure, and withdrawal timeline. A client in the highest federal bracket often sees muni-bond ladders and tax-managed equity SMAs occupy the taxable account, while REITs and actively traded strategies sit inside tax-deferred retirement vehicles.
What types of clients does Kilner Capital Advisors typically serve?
The firm serves high-net-worth individuals, families, small-business retirement plans, and personal trusts. Its client base is concentrated in the Mid-Atlantic region, particularly Maryland and Northern Virginia, but the firm's regulatory filings indicate it works with clients in multiple states. The practice is built for wealth accumulators and retirees who value an advisor that acts as a personal CFO.
Does Kilner Capital Advisors manage direct real estate investments inside client portfolios?
The firm does not source or manage direct real estate properties. It accesses real estate exposure through publicly traded REITs and, for qualified purchasers, private real estate funds. This fund-based approach allows Kilner to provide real-asset diversification without the liquidity constraints and operational burdens of direct property management.
How does Kilner approach alternative investments beyond real estate?
Alternatives play a secondary, diversifying role. The core portfolio is built on low-cost equity and fixed-income funds. When a client's net worth, liquidity needs, and tax position support it, Kilner allocates to private credit, private real estate, and absolute-return strategies via third-party interval funds or registered closed-end vehicles. The firm does not run its own hedge fund or private equity vehicle.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on registered investment advisers?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: