Berman Capital Advisors, LLC is a fee-only firm in Atlanta that primarily serves high-net-worth individuals and families. The team of 11 advisors offers investment management, financial planning and comprehensive wealth management (which is investment management plus ongoing financial planning). The firm manages almost $2.3 billion in assets on a discretionary and non-discretionary basis.
The boutique wealth manager is currently on SmartAsset’s top financial advisor list for Atlanta.
Berman Capital Advisors Background
CEO Justin Berman founded the firm in 2010. Before then, he worked at Goldman Sachs as a vice president in the private wealth management division. He has an MBA from Wharton. Today, he is the majority owner of the firm, while Chief Financial Officer Jill Asrael has a small stake and five other employees or members have even smaller stakes.
What Types of Clients Does Berman Capital Advisors Accept?
Berman Capital works primarily with ultra high-net-worth families and their trusts and foundations. It also serves business and government entitites.
Berman Capital Advisors Minimum Account Sizes
Berman Capital generally requires clients to have at least $5,000,000 to invest. It may waive or lower this minimum at its discretion though.
Services Offered by Berman Capital Advisors
As noted earlier, Berman Capital offers both discretionary and non-discretionary investment management services. It also offers stand-alone financial planning and financial planning with investment management (which it calls comprehensive wealth management). Its ongoing financial planning can cover:
- Estate planning
- Income tax planning
- Estate tax planning
- Charitable gift planning
- Cash flow analysis
- Asset protection strategies
- Business continuity planning
Additionally, the firm advises a private fund, BCA Noble Hospitality Income Access, LP, which is available only to “accredited Investors,” as defined by the Securities ACt and “qualified purchasers,” as defined by the Investment Company Act.
Berman Capital Advisors Investing Philosophy
Berman Capital uses a “multi-manager” investment approach, which means that it will recommend investment managers to oversee separate accounts. Depending on client profiles, it may also allocate assets to mutual funds and exchange-traded funds (ETFs).
Fees Under Berman Capital Advisors
Like most firms, Berman Capital collects management fees based on a percentage of assets under management (AUM). Here are its tiered fee schedules for investment management and comprehensive wealth management services:
|First $10 million||1.00%|
|Next $15 million||0.75%|
|Next $50 million||0.65%|
|Next $75 million||0.50%|
|Assets more than $150 million||0.35%|
|Comprehensive Wealth Management|
|First $10 million||1.25%|
|Next $15 million||0.90%|
|Next $50 million||0.75%|
|Next $75 million||0.65%|
|Assets more than $150 million||0.50%|
Berman Capital Advisors Awards and Recognition
For the past five years (2015 to 2019), Berman Capital has been named to the Financial Times 300 Top Registered Investment Advisers list.
What to Watch Out For
Berman Capital does not work with small investors. If you are looking for a financial advisor who serves investors at your level, use SmartAsset’s pro matching tool to find someone who would be a better fit for your needs.
Berman Capital had no legal or disciplinary actions in the past 10 years to disclose in its most recent filings with the Securities and Exchange Commission.
Opening an Account With Berman Capital Advisors
The best way to reach Berman Capital is to call (404) 554-4999.
Where Is Berman Capital Advisors Located?
The firm is located at 3475 Lenox Road, Suite 760, Atlanta, Georgia 30326.
All information was accurate as of the writing of this article.
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- Use SmartAsset’s five-minute matching tool to find a local financial advisor who specializes in your needs. Simply answer questions about your financial situation and preferences, and the program will connect you with up to three suitable advisors in your area.
- Ask advisor candidates what their formal training is. Surprisingly, you don’t need to have any to be a financial advisor. So those who have professional certifications will have that much more preparation - and probably a specialty.