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Angeles Investment Advisors Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Angeles Investment Advisors is a financial advisor firm that’s focused on investment management for high-net-worth individuals, institutional clients and investment funds. It is a fee-only firm, meaning the entirety of its compensation comes from the fees that clients pay for its advisory services.

Angeles Investment Advisors Background

Angeles Investment Advisors was established in 2001 by three principals: Leslie Kautz, Howard Perlow and Michael Rosen. Although Kautz has since retired and become a senior advisor to the firm, Perlow and Rosen remain on staff as managing partners. Rosen also holds the position of chief investment officer (CIO). The firm is independent and employee-owned.

As the firm is focused on investment management, it’s no surprise that its staff includes chartered financial analysts (CFAs). Other certifications at the firm include certified financial planner (CFP) and a certified public accountant (CPA).

Angeles Investment Advisors Client Types and Minimum Account Sizes

For the most part, Angeles Investment Advisors manages the assets of institutional clients, such as retirement plans, charitable organizations, endowments, foundations and insurance companies. The firm also maintains a few accounts that belong to high-net-worth individuals. It also advises pooled investment funds.

Rather than institute a specific investment minimum, Angeles Investment Advisors chooses to hold clients to a $125,000 minimum annual fee. Based on the firm’s fee schedule, this roughly equates to a $25 million minimum.

Services Offered by Angeles Investment Advisors

As is stated above, Angeles Investment Advisors is generally focused on investment management, with more specific services like:

  • Discretionary and consulting investment services available
  • Institutional investment management
    • Investment policy statement (IPS) development
    • Asset allocation planning
    • Investment structure analysis
    • Manager selection and evaluation
    • Investment performance evaluation
    • Widespread diversification
    • Negotiation of investment manager and custodian fees
  • Private wealth services for individuals
    • Custom investment strategy and tactical asset allocation creation
    • Philanthropy strategies
    • Agent services for trustees
    • Tax-sensitive investing
    • Strategic modeling
    • Social and impact investing
    • Volatility management
    • Family communication

Angeles Investment Advisors Investment Philosophy

Angeles Investment Advisors tends to invest in a specific set of securities that revolve around various types of funds. These include no-load mutual funds, load-waived mutual funds, separately managed accounts (SMAs), exchange-traded funds (ETFs), exchange-listed closed-end funds, government securities, limited partnerships, offshore corporations and private placements (hedge funds and private equity funds).

Some of the hedge funds and other investment funds that Angeles invests in are under its control. However, it purposely limits clients’ exposure to these funds to no more than 30% of their portfolio’s overall asset allocation. This is at least partially because the majority of these funds require an investment of at least one year, meaning those assets essentially become illiquid for that period of time.

Fees Under Angeles Investment Advisors

The fee schedule at Angeles Investment Advisors is variable. This means that the firm charges different rates depending on the type of services the client is looking for. Here’s a breakdown:

Angeles Investment Advisors Fee Schedule
Service Fee Arrangements
Discretionary investment management 0.10% - 0.50% annual fee
Consulting services 0.01% - 0.20% annual fee, or a $25K - $1MM annual fixed fee
Hedge fund consulting services 0.50% annual flat fee

What to Watch Out For

There are no financial planning offerings available through Angeles Investment Advisors. These might include retirement planning, estate planning, tax planning or education fund planning. So if you’re a high-net-worth individual client looking to work with one of the firm’s advisors, know that your services will be focused around investment portfolio management.

Angeles Investment Advisors does not have any disclosures on its Form ADV, giving it a clean legal and regulatory record.

Opening an Account With Angeles Investment Advisors

If you’re interested in becoming a client of Angeles Investment Advisors, you can call the firm’s Santa Monica headquarters at (310) 393-6300. To reach its New York City branch, dial (212) 451-9290.

Retirement Planning Tips

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How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research