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Belle Haven Investments Review

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Belle Haven Investments

Belle Haven Investments is a financial advisor firm headquartered just north of New York City that serves more than 8,800 clients. Rather than offer its services directly to these clients, the firm works with other firms and institutions through subadvisory relationships. Founded in 1982, the firm has grown to manage $8 billion in investable assets through these relationships. Belle Haven's premier service is fixed-income management.

All of Belle Haven's income comes from the fees that clients pay, which makes it a fee-only firm. This is markedly different from the setup of a fee-based firm, which is one that earns third-party forms of compensation (like insurance commissions) in addition to the fees that clients pay.

Belle Haven Investments Background

Belle Haven Investments was founded in 1982, and it is principally owned by Matt Dalton, who also acts as the firm’s CEO and chief investment officer (CIO). Dalton has worked in finance, and specifically in fixed income, since 1985. The firm has 31 advisors on staff. 

Belle Haven Investments Client Types and Minimum Account Sizes

Belle Haven Investments works with almost 9,000 clients, though these clients use Belle Haven's services through their relationship with an affiliated firm. This client base is extremely diverse, including the likes of non-high-net-worth and high-net-worth individuals, banks, investment companies, pooled investment vehicles, pension plans, charitable organizations, government entities, insurance companies and corporations.

Should you want access to Belle Haven's separately managed accounts (SMAs), you'll need at least $250,000 in investable assets. Otherwise, the company runs a private investment fund called the Belle Haven Aggressive Muni Fund, L.P., or BHAM. The minimum needed to invest in this fund is $1 million.

Services Offered by Belle Haven Investments

Belle Haven Investments specializes in providing investment strategies centered around fixed-income securities. These strategies then get implemented within various in-house separately managed accounts. Most of the time, other advisors will select from these investment strategies and use them with their clients, although there are still some clients for whom Belle Haven acts as the primary advisor. The firm also acts as the investment advisor to BHAM and an open-end investment company.

Belle Haven Investments Investment Philosophy

Belle Haven Investments approaches the investment process a bit differently than many other financial advisor firms, as it focuses exclusively on fixed-income instruments. As such, the firm looks to construct portfolios of bonds with duration and creditworthiness that align with each client's investment goals and risk tolerance. Furthermore, the firm explicitly states in its Form ADV that it looks to "position portfolios to capture opportunistic trades."

As the client's portfolio ages, the firm will continuously monitor its returns to determine its current setup is still working. Based on this analysis, the firm may buy or sell securities as needed.

Fees Under Belle Haven Investments

When acting as a sub-advisor to SMAs, Belle Haven Investments charges a fee based on a percentage of the client's total assets under management (AUM). That exact percentage typically ranges between 0.50% and 1.00%, though specific fees rates depend on the investment strategy that's ultimately employed. However, these rates may change, as all client-advisor relationships are technically negotiable.

To invest in the BHAM fund for which Belle Haven acts as investment advisor, you can expect to pay 0.3125% on a quarterly basis. That works out to an annual fee rate of 1.25%.

Disclosures

Belle Haven Investments has two disclosures listed on its Form ADV. One applies to a violation from 2009, when the Municipal Securities Rulemaking Board (MSRB) ruled that the firm failed to report information regarding purchase and sale transactions in a timely manner. For this, the firm paid a fine without admitting or denying the findings. Then, in 2015, the Financial Industry Regulatory Authority (FINRA) alleged a similar violation, and the firm also paid a fine without admitting or denying the allegation.

Opening an Account With Belle Haven Investments

If you’d like to start a relationship with someone at Belle Haven Investments, the easiest way is probably to call the firm at (914) 694-2616. If you prefer, you can also visit the firm’s website and fill out the contact form with your name, contact info and a message describing what kind of information you want.

Tips for Retirement Planning

  • A financial advisor can be a valuable partner in building a retirement plan and choosing investments to meet your retirement goals. Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • When you’re planning out your income for retirement, don’t forget to add in Social Security payments. Although Social Security won’t be enough to retire on, it can be a valuable addition to your existing retirement funds. To find out how much you’re in line to receive, stop by SmartAsset’s Social Security calculator.

How Many Years $1 Million 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.

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

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

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%. This reflects the typical return on a conservative investment portfolio. 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