Coastal Wealth Management, LP is a small, fee-only financial advisor with slightly more than $6 million in assets under management (AUM). Coastal has just one advisor on staff at its lone office in Houston, Texas. In fact, the firm is only licensed to practice in Texas. While investment advisory services are Coastal Wealth Management’s main offerings, the firm does provide financial planning.
Coastal Wealth Management Background
Coastal Wealth Management has been in business since 2004 under the leadership of founder and president Kirk Zickler. Including his time at Coastal, Zickler has spent almost 20 years in the financial services industry. Zickler remains Coastal’s managing partner and principal owner to this day.
There are no advisory certifications at Coastal Wealth Management. This is not unusual for a firm of Coastal’s size in terms of AUM.
What Types of Clients Does Coastal Wealth Management Accept?
Individuals with and without a high net worth currently make up the entirety of Coastal Wealth Management’s client base. However, the firm explicitly states that it also works with foundations, endowments, charitable institutions, corporate pension and profit-sharing plans, trust programs, estates and private investment funds.
Coastal Wealth Management Minimum Account Size
Coastal Wealth Management does not employ any minimum account size requirements.
Services Offered by Coastal Wealth Management
The services at Coastal Wealth Management revolve around investment and portfolio management, although the firm does integrate some aspects of financial planning. These offerings include:
- Investment advisory services
- Discretionary portfolio management
- Strategy customization on a client-to-client basis
- Rebalances and portfolio supervision
- Investment plan adjustments based on changing financial circumstances
- Retirement planning
- Income planning
- Tax minimization
- Real estate management
- Estate planning
- Insurance review and analysis
- Connected services with clients’ accountants, lawyers and other professionals
Coastal Wealth Management Investment Philosophy
Rather than use pre-built portfolio models, Coastal Wealth Management personalizes each investment plan to the needs to the client. Your initial meeting with your advisor will dictate what elements will affect these plans. Considerations could include your risk tolerance, time horizon, current income level, tax conditions, proximity to retirement and more.
According to its SEC-filed Form ADV, Coastal Wealth Management favors exchange-traded funds (ETFs) and mutual funds when constructing client portfolios. Mutual funds and ETFs can be valuable because of their inherent diversification and internal management. Other investment types, such as fixed-income securities and equities, are not off limits, though.
Coastal Wealth Management offers investment discretion to its client base. To a certain extent, this policy allows clients to dictate what they want their portfolio to look like. If you want to take advantage of investment discretion, make sure to submit your stipulations in writing.
Fees Under Coastal Wealth Management
The services of Coastal Wealth Management adhere to the fee schedule in the table below. Although they are shown as annual fees, the firm charges them in four equal percentages on a quarterly basis. All fees are paid in arrears and are based on the average market value of the assets on the last day of each month over the preceding quarter.
|Investment Advisory Fees|
|Portfolio Value||Annual Fee|
|Up to $500,000||2.00%|
|$500,001 - $1,000,000||1.75%|
Coastal Wealth Management’s affinity for mutual funds could slightly increase your fees. This is due to the fact that these funds come with management fees that are separate from charges associated with the firm.
Check out the table below to see how Coastal’s fees for its portfolio management services compare to those at similar financial advisor firms. Note that these fees are only estimates and actual costs may vary.
|*Fee estimates only consider the maximum base fees for the services each firm provides. You may also pay manager fees and other fees, which can vary in amount. **All figures are based on median fee levels according to Bob Veres' 2017 Planning Profession Fee Survey. The above estimates solely take into account AUM-only fees. Total costs will likely be higher due to additional expenses.|
|Estimated Fee Comparison*|
|Your Assets||Coastal Wealth Management Investment Advisory Fees||National Median Advisory Fees**|
|$1MM||$17,500||$8,500 - $10,000|
|$5MM||$75,000||$25,000 - $32,500|
What to Watch Out For
Prospective clients who live outside of the state of Texas will be unable to access the services of Coastal Wealth Management. This is because the firm is legally licensed to practice in just Texas.
There are no legal or regulatory issues listed on Coastal Wealth Management’s Form ADV.
Opening an Account With Coastal Wealth Management
The best way to get in touch with Coastal Wealth Management is to call the firm at (713) 621-9898. You can also drop by the firm’s office in Houston, Texas.
Where Is Coastal Wealth Management Located?
Coastal Wealth Management operates its only location in Houston, Texas at 13501 Katy Freeway, Suite 1185. You’ll find the firm in a large office building directly adjacent to Terry Hershey Park.
Tips for Investing
- There are many factors to take into account when building an investment portfolio. Things get even more complex if you also try to integrate a financial plan into your investments. Financial advisors deal with these nuances on a daily basis, though, making them great partners for your investment plans. The SmartAsset financial advisor matching tool can set you up with as many as three fiduciary advisors in your area. Just answer our quick questionnaire, and we’ll pair you with the advisors who will best fit your financial needs.
- If you’re earning money, chances are that you’ll need to pay Uncle Sam his required portion according to the law. The returns you receive from investing aren’t immune to this tax, which is aptly titled the capital gains tax. SmartAsset’s capital gains tax calculator can help give some insight into what to expect from these payments.