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Elite Wealth Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Elite Wealth Management is a fee-only financial advisor located in Kirkland, Washington, that specializes in strategy-based investment portfolio creation and integrated financial planning.

As a fee-only firm, Elite Wealth Management's revenue comes solely from the advisory fees that clients pay. Advisors at Elite do not earn commissions for selling third-party products and services, like insurance. This is markedly different from a fee-based firm, which may collect third-party commissions in addition to client-paid fees. 

Elite Wealth Management Background

Fariba Ronnasi, Elite Wealth Management’s president and chief compliance officer, has a 23-year history in the investment sphere. She holds a master’s degree in finance with a minor in economics and was a managing director at Columbia Management Company before establishing Elite Wealth Management in 2004. Ronnasi is still the firm’s principal owner.

The firm does not feature any financial certifications, such as the certified financial planner (CFP) or certified public accountant (CPA) designations.

Elite Wealth Management Client Types and Minimum Account Sizes

When it comes to assets under management (AUM), most of Elite Wealth Management’s business comes from high-net-worth individuals. However, in terms of number of clients, individuals nearly triple their high-net-worth counterparts. Elite also does business with a few other investment advisors.

In general, Elite Wealth Management does not impose a minimum investment requirement. If you subscribe to certain investment strategies at Elite, though, there may be a minimum.

Services Offered by Elite Wealth Management

Although Elite Wealth Management is largely concentrated on building and managing clients’ investment portfolios, it does have some financial planning services. Here’s an overview of what you can get through Elite:

  • Investment management
    • Portfolio customization according to:
    • Risk tolerance
    • Investment objectives
    • Risk management
    • Diversification and asset allocation planning
    • Investment strategies include:
      • Core Select Strategy
      • Global Strategy
      • Dynamic Exchange-Traded Fund (ETF) Option Strategy
      • Core All Cap Strategy
      • Tactical Long/Short Strategy
  • Financial planning
    • Tax planning and accounting
    • Cash flow analysis
    • Retirement planning
    • Estate planning
    • Trust planning
    • Long-term care insurance planning
    • IRA and 401(k) rollovers
    • Asset protection
    • Wealth accumulation
  • “White-labeling” for third-party investment managers
    • Partnerships allow outside advisors to rebrand Elite’s strategies

Elite Wealth Management Investment Philosophy

Elite Wealth Management uses a model-based approach to working with its clients. When you first speak with an advisor, you’ll work together to identify your risk tolerance, time horizon, income needs and ultimate investment objectives. Once this is complete, your profile will be paired with one of these aforementioned portfolio models: Core Select, Global, Dynamic ETF Option, Core All Cap and Tactical Long/Short.

Rather than stick to a single investment type within each of these strategies, Elite Wealth looks to form a cohesive combination of investments that work together to mitigate risk and maintain satisfactory returns. As a rule of thumb, Elite tends to work within the confines of a few securities, like individual equities, ETFs, options and alternative investments.

Fees Under Elite Wealth Management

The investment management fees at Elite Wealth Management typically hover around 1.00%. This rate is eligible for alteration depending on the complexity of your personal situation and other factors. Your annual fee will be split up into quarterly payments, and they’re charged in advance.

Here's what your advisory fees may looks like, based on the size of your account:

*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 Elite Wealth Management*
Your Assets Elite Wealth Management Fee Amounts
$500K $5,000
$1MM $10,000
$5MM $50,000
$10MM $100,000

Third-party investment managers who take advantage of Elite Wealth’s white-labeling services will abide by one of two different fee schedules. Which one you get is contingent upon whether or not you use Elite’s trading platform. If you do, the first table will apply, and if not, the second will.

Fees for White-Labeling Using Elite
Assets Under Management Annual Fee
First $100MM 0.60%
Next $50MM 0.55%
Over $150MM 0.50%


Fees for White-Labeling Using Intermediaries
Assets Under Management Annual Fee
First $100MM 0.30% - 0.35%
Next $50MM 0.25% - 0.30%
Over $150MM 0.20% - 0.25%

What to Watch Out For

Elite Wealth Management boasts a clean legal and regulatory record based on its SEC-filed Form ADV.

Elite Wealth Management’s president and CCO, Fariba Ronnasi, also holds two positions (CCO and director of investor relations) at Lattice Capital Management, LLC, an SEC-registered investment advisor located in the same offices as Elite. Ronnasi founded the firm herself and her husband, Ali R.M. Dadgar, is Lattice’s managing member.

When Elite finds it appropriate, the firm may recommend that clients allocate part of their assets to funds that are managed by Lattice Capital Management. Clients are under no obligation to accept these recommendations, but if they do, Lattice will receive compensation through its proprietary management charges and performance-based fees. This has the potential to create a conflict of interest, as Ronnasi would earn compensation from the fees of both Lattice and Elite. Even still, the firm is a fiduciary and is therefore legally bound to act in your best interest at all times.

Opening an Account With Elite Wealth Management

Anyone interested in beginning an advisory relationship with Elite Wealth Management can contact the firm over the phone at (425) 828-4300 or by email at Elite provides a direct way for prospective clients to set up an appointment through its website. You can choose from a phone conversation or in-person meeting for either 30 minutes or an hour.

Tips for Retirement Planning 

  • The key to a successful retirement plan is to gather as many income streams as possible. With a consistent focus placed on individual retirement accounts (IRAs) and 401(k)s, it’s easy to forget the extra income you can expect from. To get an idea of what type of payments you should anticipate, take a look at SmartAsset’s Social Security calculator.
  • There’s no shame in asking for help when fleshing out your plans for retirement. Financial advisors make great retirement planning partners and mentors. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

How Long $1mm 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.

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

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

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%. 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