Blackridge Asset Management (also known as BAM) is a financial advisor firm located in Jupiter, Florida. The firm offers services such as financial planning and portfolio managment. BAM is considered a fee-based firm, whose advisors may earn third-party commissions for recommending certain securities or selling insurance products, in addition to the advisory fees that clients pay.
Blackridge Asset Management Background
Formed in 2015, Blackridge Asset Management is a wholly owned subsidiary of Peak Reps LLC, a privately owned entity. Peak Reps LLC holds 100% ownership of BAM and is itself equally co-owned by eight principals.
Blackridge Asset Management Client Types and Minimum Account Sizes
Blackridge Asset Management advises many types of clients, including but not limited to:
- High-net-worth individuals
- 401(k) plans
- Pension and profit-sharing plans
- Charitable organizations
- Corporations, partnerships and other entities
Minimum account sizes at Blackridge Asset Management vary based on account type. The standard minimum investments for their various accounts are as follows:
- $150,000 for a multiple manager portfolio
- $100,000 for third-party money management strategies
- $25,000 for Proprietary Home Office Model and Advisor as Portfolio Manager (Ascend) Programs
Services Offered by Blackridge Asset Management
BAM provides a variety of personalized financial planning, asset management and related consulting services to its clients. The firm makes recommendations to clients based on consultations with them and an analysis of each client's specific needs and goals. Services include:
- Determination of financial objectives
- Cash flow management
- Insurance review
- Education funding
- Estate planning
- Identification of financial problems
- General tax planning
- Investment management
- Retirement planning
The firm provides investment advisory services on a discretionary basis only. However, BAM does not act as the custodian of client assets; at this time, BAM advisory client accounts are primarily custodied at Charles Schwab & Co.
The firm no longer participates in any wrap fee programs.
Blackridge Asset Management Investment Philosophy
Investment advisory representatives (IARs) affiliated with Blackridge Asset Management use various methods of analysis to create investment strategies for clients. These include charting, fundamental and technical analysis. IARs can also use an analytics module through Envestnet in order to create more complex solutions and allocations.
Asset management recommendations to clients may include direct brokerage of individual securities, open- and closed-end mutual funds, exchange-traded commodities, real estate investment trusts, fixed and/or variable insurance products or other investment vehicles.
Fees Under Blackridge Asset Management
Fees for programs offered by Blackridge Asset Management are negotiable and may differ among clients based on a number of factors, including the type and size of the account, as well as the nature and length of the relationship between the firm and the client.
Regarding portfolio management and advisory dervices, representatives charge an advisory fee or combination of advisory fee and solicitation fee, disclosed as a percentage of the client's assets under management (AUM). Asset-based fees are deducted from the account in advance on a quarterly basis.
For the firm's Ascend Advisor as Portfolio Manager program, IARs can charge tiered fee rates based on the value of the account. Annual advisory fees are negotiable up to a maximum of 2.50%. The fee the IAR charges depends on various factors including the amount of AUM, the nature and extent of other account relationships between the client and affiliates of BAM, the type and complexity of services the client receives and/or other factors that the IAR deems necessary to take into account. The fee may be tiered, based on asset levels or charged as a flat fee.
For the Anchor Proprietary Home Office Model services, the annual advisory fee is negotiable and can go up to a maximum of 2.50%. Proprietary Home Office Models generally consist of mutual funds and exchange-traded funds (ETFs), which may also charge commissions and internal management fees. These fees are separate from advisory fees that the firm itself charges and the firm does not receive any portion of these fees.
Clients who engage in consulting services with the firm pay a fee that is negotiable at the discretion of the IAR depending on several factors, including the amount of assets being reviewed, the nature and extent of account relationships between BAM and its affiliates with the client, the type and complexity of services requested and any other factors that the IAR deems necessary to consider. Fee options include a flat fee for one-time services, split billing with a specific retainer due at the outset and balance due at completion, periodic billing for ongoing services or hourly fees ranging from $100 to $500 per hour. The firm charges general consulting services as an annual retainer on a fixed fee basis ranging from $100 to $1,000.
Blackridge Asset Management will not collect a fee in advance exceeding $1,200 when services cannot be provided within six months of the effective date of the agreement.
Learn more about advisors' typical costs here.
What to Watch Out For
Blackridge Asset Management has a disclosure listed on its latest SEC-filed Form ADV, from 2017. A customer alleged that one of the firm's advisory affiliates sold a variable annuity product without disclosing the nature of the product as an annuity. The principal sanction for this affiliate was a 15-month suspension, plus a fine of $10,000.
As mentioned earlier, it is important to note that advisors at Blackridge Asset Management may also be broker-dealers. Employees acting in these non-advisor roles generally receive transaction-based fees, which can be a potential conflict of interest. That said, as an SEC-registered investment advisor, the firm is legally obligated to uphold its fiduciary duty and work in clients’ best interests at all times.
Opening an Account With Blackridge Asset Management
To open an account with Blackridge Asset Management, you can visit the firm's website or call (561) 641-5050.
All information is accurate as of the writing of this article.
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