The Short Version
Avidity Capital is a fee-only, flat-fee fiduciary investment adviser in Hanford, California. Our Legacy Land Advisory service works with farming families in Kings, Tulare, and Fresno counties, and the counties around them, who are selling land, exchanging it, deciding whether to hold it, or passing it to the next generation, generally with a family net worth above roughly $3 million. We are paid only by the families we serve. We accept no commissions from anyone, hold no insurance or brokerage licenses, and receive nothing from attorneys, product providers, or the custodian that holds client assets. If that is not what you are looking for, this page also says who we are not for and where to go instead.
People find this firm by asking narrow questions: whether a Williamson Act contract survives a 1031 exchange, what Form 3840 is, how often a trust should be looked at, what to do when one child farms and the others do not. Having read the answer, the next question is usually simpler. Who are you, where are you, and how do you get paid? This page answers those three plainly.
The families Legacy Land Advisory is built for
Our clients are farming families in California's Central Valley, usually in their second or third generation on the land, whose wealth is mostly in ground, water, trees, and the operation itself rather than in accounts. Almonds, pistachios, walnuts, table and wine grapes, citrus, stone fruit, dairy, cattle, cotton, and row crops. The families are land-rich and often cash-conscious, and they are at a decision point. The decisions we are built for:
- Selling or exchanging farmland, including the 1031 decision, California's withholding at close, the FTB Form 3840 clawback on out-of-state replacement property, and what the net proceeds actually are.
- Deciding whether to hold at all. Our guide to keeping the farm lays out the conditions under which holding makes sense and the ones under which it does not. We are paid the same either way, which is the point.
- Passing the land to the next generation, especially when one child farms and the others do not, and the Prop 19 and basis consequences of doing it one way or another.
- An estate plan nobody has fully read. Every client family receives a plain-English Estate Plan Review of the documents they already have, and we attend the attorney meetings with them.
- Choosing who settles the estate, including whether to price a professional trustee rather than default to a child.
- Investing proceeds after a sale, when a family wants that managed, under the asset management schedule on our fees page.
We work with a small number of families each year, and the fit runs in both directions. Before an engagement begins we want to understand what the family is trying to accomplish, what the debt and equity position looks like, and what roles the family wants to play afterward. The flat fee is built for the complexity that arrives somewhere around a $3 million family net worth, where estates stop being collections of accounts and become collections of moving parts. Below that line the fee is often more than the planning is worth, and we say so.
Where we work
Our office is at 217 N Irwin Street in Hanford, the Kings County seat. Most of the families we serve are within an hour of it. We meet at the office, at the family's kitchen table, or by video, whichever suits the family, and we go to the attorney's and CPA's offices with them when the work calls for it.
- Kings County: Hanford, Lemoore, Corcoran, Avenal
- Tulare County: Visalia, Tulare, Porterville, Dinuba, Exeter, Lindsay
- Fresno County: Fresno, Clovis, Selma, Sanger, Reedley, Kingsburg, Coalinga
- Kern County: Bakersfield, Delano, Wasco
- Madera and Merced counties: Madera, Merced, Los Banos
Avidity Capital Inc. is a California state-registered investment adviser and may only transact business in states where it is registered or qualifies for an exemption or exclusion from registration. The work is built around California land, California property tax, and California probate, so our families are nearly all here. If you own Central Valley ground but live in another state, ask; the answer depends on the state.
What fee-only means here, and the filing that backs it
"Fee-only" has a specific meaning in this industry: the adviser is paid only by its clients, and takes no commissions or other compensation from anyone else for anything it recommends, including insurance. Many firms describe themselves as fee-based, which means fees plus commissions. The difference matters most at exactly the moments our families face, when a 1031 sponsor, an insurance product, or a replacement property would pay a commission to whoever steers the family toward it.
Rather than ask you to take our word for it, here is what the firm's own regulatory filing says. Every registered adviser files Form ADV with its regulator, and Part 1A is a checkbox form that is public. Avidity Capital's Part 1A, amended April 8, 2026, reads as follows:
| Form ADV Part 1A item | What Avidity Capital reports |
|---|---|
| Item 5.E, compensation arrangements | Checked: a percentage of assets under management; fixed fees; subscription fees (the Avidity Journey planning service). Not checked: commissions; performance-based fees; hourly charges. |
| Item 5.B(5), insurance-licensed employees | Zero employees are licensed agents of an insurance company or agency. |
| Item 6.A, other business activities | None checked. The firm is not engaged as a broker-dealer, a registered representative of a broker-dealer, an insurance broker or agent, a real estate broker or agent, or any other financial product salesperson. |
| Item 6.B(3), products sold to advisory clients | No. The firm does not sell products or provide services other than investment advice to its advisory clients. |
| Item 7.A, financial industry affiliations | None checked. No related broker-dealer, insurance company or agency, trust company, real estate broker, or sponsor of limited partnerships. |
Source: Form ADV Part 1A for Avidity Capital Inc., CRD 312745, other-than-annual amendment filed April 8, 2026, available at adviserinfo.sec.gov/firm/summary/312745. Filings are amended over time; the current version is always the one on that site.
Two structural facts sit behind those checkboxes. Theron Morgan gave up his brokerage license when he founded the firm in June 2021, so commission compensation is not something the firm declines; it is something the firm cannot accept. And client assets are held at LPL Financial as custodian, which calculates and debits the advisory fee quarterly; LPL is a service provider, not an affiliate, and pays the firm nothing. The fee schedule itself, the flat Legacy Land Advisory fee and the asset management tiers, is published in full on our services and fees page, with a calculator that shows the dollar amount for your household.
Who we are not the right fit for
Saying this plainly saves everyone time.
Where we will point you elsewhere
The same firm serves these families through a separate financial planning service built for them, Avidity Journey. Different needs, different tools, different price. Start there, not here.
If the estate is a home, ordinary accounts, and no land or business, a flat fee sized for farm transitions is the wrong tool. We will say so in the first conversation and, where we can, suggest where to go.
We do not sell insurance, annuities, or any investment product, and we are not paid by anyone who does. If a product belongs in a family's plan, we will say so and help evaluate it, but someone else will sell it.
We do not practice law, draft documents, or prepare returns. We coordinate the attorney and CPA, prepare the family for those meetings, and attend them. If you need only a document drafted, you need an attorney, and we are glad to introduce candidates.
A family that does not farm but faces the same questions, a closely held business, inherited property, a trust that nobody has read, is welcome to ask. The fit test is the same, and the answer will be plain either way. We describe that version of the engagement on families who don't farm.
For attorneys and CPAs
Estate attorneys and agricultural CPAs are the professionals who most often introduce us to a family, and the relationship runs without referral fees in either direction. We take no compensation for introducing a family to counsel, and we pay none for introductions to us. If you are working with a farm family and want to know how we fit alongside you, our page for professionals covers it, including the one-page client introduction you can hand them.
How to start
The first conversation costs nothing and commits you to nothing. It is a fit check in both directions. Useful things to have in mind, none of them required: roughly how the land is held and by whom, the year the trust was signed, what is owed on the operation, and what each person in the family actually wants. We will tell you which of your questions belong in front of an attorney, in what order, and whether our engagement is the right way to get there.
Legacy Land Advisory
Want to know whether this is a fit?
A confidential, no-cost first conversation, at our Hanford office, your kitchen table, or by video. We will tell you plainly, including when the answer is no.
Working with a family as their attorney or CPA? Start here.
Common Questions
About the Firm:
What People Ask
Is Avidity Capital a fee-only financial advisor?
Yes. Avidity Capital Inc. is compensated only by fees its clients pay directly: a flat annual fee for Legacy Land Advisory and, when a family also wants investments managed, a percentage of the assets managed. The firm's Form ADV Part 1A, filed April 8, 2026, checks fixed fees, a percentage of assets under management, and subscription fees (the Avidity Journey planning service) as its compensation, and leaves commissions and performance-based fees unchecked. It reports zero employees licensed as insurance agents, no activity as a broker-dealer, registered representative, insurance agent, or real estate agent, and no affiliated broker-dealer or insurance agency. Theron Morgan gave up his brokerage license when he founded the firm in 2021. You can verify the filing at adviserinfo.sec.gov under CRD 312745.
Do you only work with farmers?
Legacy Land Advisory, the service this website describes, is built for Central Valley families whose wealth is in farmland and who face a sale, an exchange, a hold-versus-sell decision, or a transition to the next generation. The firm also serves active-duty military members, California teachers, CalPERS safety members, and W-2 employees through a separate financial planning service, Avidity Journey. A family that is not farming but faces the same questions, a closely held business, inherited property, a trust nobody has read, is welcome to ask; we will say plainly whether the engagement fits.
Do you work with families in Visalia, Fresno, Lemoore, or Tulare?
Yes. Our office is in Hanford, and most of the families we serve are in Kings, Tulare, and Fresno counties: Hanford, Lemoore, Corcoran, Visalia, Tulare, Porterville, Dinuba, Fresno, Clovis, Selma, and the farming communities between them. We also work with families in Kern, Madera, and Merced counties. We meet at our office, at the family's kitchen table, or by video, whichever the family prefers.
Is there a minimum to work with Avidity Capital?
There is no stated asset minimum, but the Legacy Land Advisory engagement is a flat annual fee, and it is built for the complexity that comes with a family net worth above roughly $3 million, usually with farmland, a business, or both. Below that line the flat fee is often more than the planning is worth, and we say so. The fit also runs in both directions: before an engagement begins we want to understand what the family is trying to accomplish and what the debt and equity position looks like.
Do you work with clients outside California?
Avidity Capital Inc. is a California state-registered investment adviser and may only transact business in states where it is registered or qualifies for an exemption or exclusion from registration. The work is built around California land, California property tax, and California probate, so the families we serve are nearly all here. If you own Central Valley farmland but live elsewhere, ask; the answer depends on your state.
Is Avidity Capital the same as Avidity Partners?
No. Avidity Capital Inc. is an independent, California-registered investment adviser in Hanford, California, founded by Theron Morgan in 2021, serving Central Valley families. It has no affiliation with Avidity Partners Management LP, a healthcare-focused investment firm, or with any other firm using the word Avidity. If you were looking for one of those firms, this is not it.
Who holds our money if you manage investments?
Client assets are held at LPL Financial as custodian. Avidity Capital does not take custody of client funds. LPL calculates and debits the advisory fee quarterly under the schedule published on our services and fees page. LPL is a custodian and service provider only; Avidity Capital is independently owned and receives no compensation from LPL or from any product provider.
Important Disclosures
This page describes the firm and the clients it serves. It is not legal, tax, or investment advice, and nothing on it is an offer of advisory services in any state where the firm is not registered or exempt. The Form ADV items summarized above are quoted from the public filing as of the date shown; the current filing at adviserinfo.sec.gov controls. "Fee-only" describes the firm's compensation as reported in that filing and does not imply membership in any professional association.
Regulatory Disclosure: Avidity Capital Inc. is a California state-registered investment adviser (CRD# 312745). Registration does not imply a certain level of skill or training. For firm background information, visit adviserinfo.sec.gov/firm/summary/312745.
No Commission Disclosure: Avidity Capital Inc. is compensated solely by advisory fees paid directly by clients. The firm does not receive commissions, referral fees, or revenue-sharing payments from sponsors, issuers, product providers, insurers, custodians, attorneys, or trustees.