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Greenwich Wealth Management Review

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Greenwich Wealth Management

Greenwich Wealth Management, LLC (GWM) is a fee-only financial advisor firm based in Greenwich, Connecticut that also runs an office in West Palm Beach, Florida. The firm currently employs seven financial advisors who handle nearly $1.14 billion in client assets under management (AUM). The firm was named one of Barron’s top 1,200 U.S. financial advisors every year from 2012 to 2016.

Greenwich Wealth Management Background

Greenwich Wealth Management opened its doors for business in 2006. Managing member Michael Freeburg founded the firm. GWM’s staff of advisors have worked, on average, 23 years in the financial services industry.

There are two chartered financial analysts (CFAs) working at Greenwich Wealth Management.

What Types of Clients Does Greenwich Wealth Management Accept?

The majority of Greenwich Wealth Management’s client base is made up of high-net-worth individuals and families. Individuals without a high net worth, estates, trusts, charitable organizations, corporations, endowments, defined benefit/contribution plans and profit-sharing plans make up the remainder of the firm’s typical clientele.

Greenwich Wealth Management Minimum Account Size

Generally speaking, Greenwich Wealth Management requires a $1 million minimum initial investment to receive its services.

Services Offered by Greenwich Wealth Management

Greenwich Wealth Management’s services are focused on the management of client investments and retirement plan advising. Here are its specific offerings:

  • Investment management
    • Customized investment planning based on:
      • Risk tolerance
      • Time horizon
      • Liquidity needs
      • Financial goals
    • Financial objective determination
    • Investment portfolio management and monitoring
    • Diversification
    • Limited client investment discretion
  • Retirement plan investment advisory services
    • Investment menu selection
    • Annual plan structure review
    • Educational support for plan sponsor
      • Educational materials
      • Investment advice
    • Share class guidance

Greenwich Wealth Management Investment Philosophy

Exchange-traded funds (ETFs) have become a staple of the investment world due to their inherent diversification and ability to invest across an entire market in just one security. Greenwich Wealth Management has evidently taken notice of this, as the firm explicitly states in its Form ADV that ETFs are the “backbone of many of our investment portfolios.”

GWM also invests in mutual funds, bonds, futures, options, equities, CDs, fixed-income securities and more. This shows just how important diversification is to the way in which Greenwich Wealth builds its clients’ portfolios. Diversification keeps you from relying too heavily on a particular market or investment type.

Fees Under Greenwich Wealth Management

The vast majority of portfolio management accounts at Greenwich Wealth Management abide by the fee rates listed below. They are, however, technically negotiable depending on the amount of money you invest and other factors. You may also incur custodial fees.

Portfolio Management Fees
Portfolio Value Maximum Annual Fee
$1,000,000 or less 1.25%
$1,000,001 - $5,000,000 1.00%
Above $5,000,000 0.90%

The fees associated with the firm’s retirement plan investment advisory services are asset-based and may be negotiable for some prospective clients. Although shown in annual percentage below, these charges are divided up and paid quarterly, in arrears.

Fees for Retirement Plan Investment Advisory Services
Portfolio Value Maximum Annual Fee
$0 - $1,000,000 0.75%
$1,000,001 - $10,000,000 0.55%
Above $10,000,000 0.50%

Check out the table below to see how GWM’s fees for its 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 Greenwich Wealth Management Portfolio Management Fees National Median Advisory Fees**
$500K n/a (below required minimum) $5,000
$1MM $12,500 $8,500 - $10,000
$5MM $50,000 $25,000 - $32,500
$10MM $90,000 $50,000

What to Watch Out For

Greenwich Wealth Management receives multiple benefits from Charles Schwab for using its broker-dealer services. These include computer software, support systems, trading desk access and more. This could create a conflict of interest, as the receipt of these perks could influence Greenwich Wealth’s decision on which broker-dealer to use regardless of the presence or lack of benefits for clients. GWM, however, does abide by fiduciary duty, legally binding it to act in clients’ best interests at all times.

Disclosures

According to its SEC-filed Form ADV, Greenwich Wealth Management has a clean legal and regulatory record.

Opening an Account With Greenwich Wealth Management

The best way to get in touch with Greenwich Wealth Management about becoming a client is either to stop by one of the firm’s locations in Connecticut or Florida or call (203) 618-0100. You can also visit GWM’s website and request a private consultation by filling out a form with your personal information and few other specifics.

Where Is Greenwich Wealth Management Located?

You can find Greenwich Wealth Management’s principal advisory location in Greenwich, Connecticut at 45 East Putnam Avenue, Suite 128. The firm’s West Palm Beach, Florida office is located at 777 South Flagler Drive, East Tower, Suite 1005.

Tips for Your Investment Portfolio

  • Your risk tolerance is one of the most important aspects of creating any portfolio, as it allows you to customize how risky you want to be with your investments in the hopes of higher returns. SmartAsset’s asset-allocation calculator can help you apply this principle, as it will lay out what percentage each investment type should occupy in your portfolio.
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How Many Years $1 Million 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 cost of living in retirement there.

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

Methodology SmartAsset calculated the average cost of living for retirees in the largest U.S. cities. Using that calculation, we determined how many years $1 million would last in retirement in each major city.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors throughout the country. 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.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%, reflecting the typical return on a conservative investment portfolio. Finally, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would last in each of the cities in our study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research