Bright Advisers, LLC is a Brea, California-based financial advisor firm that's only licensed to work within the state of California. The firm is a fairly small operation, with just a few advisors on staff. It has a handful of clients who are individuals both with and without a high net worth. These clients subscribe to various financial planning, investment management and educational services through the firm.
Bright Advisers is a fee-only firm, as it does not receive commissions from third-parties. That's different from a fee-based firm, which are subject to conflicts of interest by receiving commissions as part of their compensation.
Bright Advisers Background
Bright Advisers is a relatively young firm, as it was founded in 2016. The firm's founder, owner and managing member is Kevin Luu. He has around two decades of experience in the financial advisor space. Luu has a Series 65 registration.
Bright Advisers Client Types and Minimum Account Size
Bright Advisers only works with individual clients. Of these individuals, some come in below the high-net-worth threshold and others come in above.
There is no minimum investment requirement for those interested in opening an account at Bright Advisers.
Services Offered by Bright Advisers
Bright Advisers offers a variety of services across the areas of financial planning, investment management and educational seminars. Investment management comes in both discretionary and non-discretionary versions. The firm will create an individualized portfolio for each client, including asset allocation planning, investment selection and regular portfolio monitoring.
Depending on your needs and preferences, financial planning services are available on either a one-time or ongoing basis. Topics covered by the firm may include will writing, estate planning, investment planning, tax planning, education planning, cash flow planning, retirement planning and more.
Bright Advisers also provides family office services for clients. This is a high-net-worth-centric offering that's designed to handle a family's entire financial needs all at once. A main goal of the service is to help clients build multi-generational wealth through estate planning, tax management and wealth management.
Bright Advisers Investment Philosophy
Bright Advisers investment philosophy is entirely client-focused. The firm will tailor its investment philosophy and advice to the individual needs and financial situation of each client. This involves determining a specific strategy based on factors like investment history, risk tolerance, liquidity needs, time horizon, income needs and other important preferences. These will all be viewed in the context of the client's overall financial goals.
Bright Advisers tends to adhere to the principals of modern portfolio theory (MPT) when crafting client portfolios. This method seeks to maximize portfolio gains, while minimizing risk for a specific risk tolerance. When it comes to gathering information in order to make final investment decisions for each portfolio, the firm utilizes many different sources, including Morningstar reports, newspapers and magazines, financial reports and SEC filings.
Fees Under Bright Advisers
Bright Advisers charges annual investment management fees to clients based on a percentage of their total AUM. Fees are calculated and billed on a quarterly or monthly basis. Total fees will not exceed 3.00% annually, with rates following the schedule below:
|Investment Management Fee Schedule|
|Account Size||Annual Fee|
|$1,000,000 - $2,000,000||1.00%|
|$2,000,000 - $5,000,000||0.85%|
|$5,000,000 - $10,000,000||0.75%|
Here's roughly what you might expect to pay at different asset levels as a client of Bright Advisers:
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Bright Advisers*|
|Your Assets||Bright Advisers Fee Amounts|
The firm charges one-time financial planning clients an hourly rate of $350 to $750. Ongoing financial planning services come with a separate fixed fee schedule, with rates ranging from $2,500 to $7,500 per year. Specific rates vary depending on the complexity of the services you're looking for.
If you take advantage of financial planning through Bright Advisers' family office services, rates will be higher. In fact, the firm's family office financial planning hourly fees are $500 to $750, while fixed fees vary from $15,000 to $30,000 per year. The rate you pay will vary based on your needs.
What to Watch Out For
There are no disclosures present on Bright Advisers SEC-filed Form ADV.
Bright Advisers' services are only available in the state of California, which means residents outside of that state cannot become a client of the firm. If you don't live in California but you're looking for a financial advisor in your area, try using SmartAsset's free advisor matching tool to get paired with as many as three local advisors.
Opening an Account With Bright Advisers
Opening an account with Bright Advisers involves going to the firm's website and submitting a contact form. You can also callover the phone if you'd rather speak to someone directly.
All information is accurate as of the writing of this article.
Tips for Planning for Retirement
- Finding a financial advisor in your area who fits your needs doesn't have to be hard. SmartAsset's free tool can match you with a local advisor in minutes. If you're ready to find an advisor, get started now.
- Planning out your retirement income involves taking into account many important factors. Use SmartAsset's retirement calculator to figure out how much you'll need to support yourself during your golden years.