AdvicePeriod is a wealth advisory firm with more than $3 billion in assets under management (AUM). Its financial advisors are equipped to provide advice around investment management, retirement savings, tax planning and more.
AdvicePeriod launched in 2013. OpenAdvisors, LLC, is its majority owner, which, in turn, is owned by Steven D. Lockshin. The firm generally supports investing in low-cost, passively managed index funds, but will consider active management and alternative investments if it considers it suitable for helping meet the client’s investment objectives.
What Types of Clients Does AdvicePeriod Accept?
AdvicePeriod works with individuals, trusts, estates, family entities, charitable organizations, corporations, and other business entities.
AdvicePeriod Minimum Account Size
The firm generally requires a minimum portfolio size of $500,000 in order to establish and maintain a relationship. However, the firm may accept smaller sizes at its own discretion.
Services Offered by AdvicePeriod
AdvicePeriod offers financial planning and investment advisory services. As noted earlier, its emphasis is on helping people plan their financial life. Of course, investing is a core competency, but it is just one part of the financial plan package. Generally, the firm allocates client assets across passively managed index funds. But it will consider other strategies if it believes it can help the client meet its investment needs and if it believes it's appropriate based on the client's risk tolerance and other factors.
When appropriate, the firm may also recommend the use of independent money managers. Clients would come into separate agreements with these firms, which set fees and other factors. However, AdvicePeriod would monitor and evaluate the strategies of these third-party managers in order to ensure they align with your investment objectives and overall best interests.
In certain cases, the firm may recommend an automated robo-advisory program provided by Betterment LLC, an affiliated third-party advisor. These programs generally invest in exchange-traded funds (ETFs) that adhere to your risk levels and other variables.
AdvicePeriod Investment Philosophy
AdvicePeriod relies heavily on passively managed or tax-advantaged securities including certain types of mutual funds and ETFs. But if the firm finds that other options may help you reach your investing goals, it will consider a wider net of securities.
When evaluating active management strategies or alternative investments, the firm turns to reports and materials provided by leading firms that focus on investment manager research and due diligence
Fees Under AdvicePeriod
AdvicePeriod generally charges its advisory fees as 0.95% (or 95 basis points) of the market value of the assets being managed. In certain cases, however, that amount may be higher or lower. This annual asset-based fee is generally prorated and charged on a quarterly basis.
The firm’s advisory fees may not cover other fees and expenses that your account would bear. These can come from third-party firms involved in the management of your account such as broker-dealers, custodians and fund managers. Additional fees may come in the form of brokerage commissions, transaction fees, charges associated with the underlying funds your portfolio invests in and more.
Fees for stand-alone financial planning services are typically charged on a fixed-fee basis and would depend on the magnitude of services requested and on agreements between the client and the advisor.
However, fees for any of the firm’s services may be neogtiable at the discretion of AdvicePeriod.
What to Watch Out For
AdvicePeriod works with several third-party firms when it comes to providing its services. This means fees can come from several sources in addition to the firm’s advisory fees for management services. For example, if AdvicePeriod recommends robo-advisor Betterment as a third-party advisor and you sign on with it, you will pay AdvicePeriod’s management fees plus Betterment’s wrap fee, which covers investment advice, execution and custody of your account.
Additionally, certain persons at AdvicePeriod may have have equity in Betterment’s parent company, which means they have a conflict of interest when it comes to recommending the robo-advisor. That said, as a fiduciary, the firm will always place clients’ interests first.
AdvicePeriod did not have any legal or disciplinary events in the past 10 years to report to the Securities Exchange Commission (SEC). This is accurate as of the time of this writing.
Opening an Account With AdvicePeriod
You can open an account with the firm by visiting its website at https://www.adviceperiod.com/ or by calling the firm at (424) 281-3600.
Where Is AdvicePeriod Located?
AdvicePeriod can be found at the following address:
2121 Avenue of the Stars, Suite 2400
Los Angeles, California 90067
All information was accurate as of the writing of this article.
Tips on Finding the Right Financial Advisor
- Looking for a financial advisor you can meet in person? Use our SmartAsset financial advisor matching tool. It connects you with up to three advisors in your area. You can also access their profiles so you can compare their qualifications before you choose to work with one.
- Ask prospective advisors how they get paid. You ultimately want to understand how much a financial advisors costs. Ideally, you want one whose only compensation is the fees he or she charges clients - and not also commissions from third parties. If the advisor does receive commissions, ask for the terms. If what he or she says is confusing, you may want an advisor who can explain things more clearly - particularly when related to the advisor’s compensation and your investment plan.