SeaCrest Wealth Management, LLC is a large, fee-based financial advisor firm with a group of 45 advisors and $739.5 million in assets under management (AUM). Aside from its headquarters in New York, SeaCrest employs advisors in 16 other states. The firm’s clients have access to investment management, financial planning, consulting and retirement plan advisory services.
SeaCrest Wealth Management Background
Founded in 2008, SeaCrest Wealth Management is principally owned by financial services holding company SeaCrest Management, LLC. The firm is under the leadership of three managing partners: Rajesh Gupta, Edward Sullivan and Ronald Lenihan. This group has 97 years of collective experience in investment management, making them bona fide veterans.
The 45-person advisory team at SeaCrest includes four certified financial planners (CFPs), three chartered financial analysts (CFAs), two certified investment management analysts (CIMAs), one accredited investment fiduciary (AIF), one chartered alternative investment analyst (CAIA), one accredited wealth management advisor (AWMA), one certified divorce financial analyst and one certified wealth strategist (CWS).
What Types of Clients Does SeaCrest Wealth Management Accept?
Individuals and businesses make up 98% of the client base at SeaCrest Wealth Management. High-net-worth individuals, estates, trusts, retirement plans, charitable organizations and investment limited partnerships round out SeaCrest’s typical clientele.
SeaCrest Wealth Management Minimum Account Size
There are no minimum investable asset requirements at SeaCrest Wealth Management.
Services Offered by SeaCrest Wealth Management
Investment management is the premier advisory service at SeaCrest Wealth Management, but it also offers financial planning and retirement plan advisory. Check out its specific services below:
- Investment management
- Discretionary and non-discretionary services available
- Portfolios built based on:
- Investment goals
- Risk tolerance
- Personal financial situation
- Long-term asset allocation
- Asset allocation creation and rebalances
- Investment evaluation
- Financial planning
- Retirement planning
- Education fund planning
- Charitable gift planning
- Investment planning
- Retirement plan advisory services
- Discretionary investment management
- Fiduciary training for plan sponsors
SeaCrest Wealth Management Investment Philosophy
In general, SeaCrest Wealth Management invests clients’ assets with a long-term time horizon in mind. This is evident through the firm’s consistent use of exchange-traded funds (ETFs), mutual funds and bonds in its portfolios. Should SeaCrest feel as though it’s appropriate, it may recommend that clients invest their assets with an unaffiliated, outside investment manager or platform. The firm’s role would then be to manage the separate account on a discretionary or non-discretionary basis for you.
Although SeaCrest has an affinity for long-term investing, it may shift to a shorter-term mindset under the right parameters. For example, the firm includes in its portfolios varying amounts of stocks that, while riskier than ETFs, mutual funds and bonds, offer more upside. This level of flexibility lets the firm make the investment decision that best for you rather than adhering to an arbitrary standard.
Fees Under SeaCrest Wealth Management
The fee schedule at SeaCrest Wealth Management is extremely variable and is therefore dependent on the specifics of your personal financial and advisory needs. Investment management, the most commonly used service at the firm, has an up to 2.00% annual fee that’s paid in advance, on a quarterly basis. SeaCrest’s retirement plan advisory clients are also given an asset-based annual fee, though this ranges only as high as 0.50%.
In contrast, financial planning clients receive negotiable hourly or fixed fees, though these may be waived if you subscribe to the firm’s investment management service. When SeaCrest suggests that you use an independent manager, the fee structure associated with doing so is largely unpredictable. This is because you’ll pay rates according to the fee schedule that the outside manager uses.
|SeaCrest Wealth Management Fees|
|Investment management||Up to 2.00% annual fee|
|Financial planning/consulting||Negotiable fixed or hourly fees|
|Retirement plan advisory services||Up to 0.50% annual fee|
|Use of independent managers||Fees based on managers’ proprietary rates|
What to Watch Out For
SeaCrest Wealth Management is a fee-based firm, meaning it can earn compensation from sources other than client fees. In the case of SeaCrest, this refers to the fact that some of its advisors earn commissions from the sale of insurance products. In addition, certain SeaCrest advisors are registered representatives of Purshe Kaplan Sterling Investments (PKS), a FINRA-registered broker-dealer. When these advisors implement securities transactions through PKS, they may be eligible for commissions.
Regardless of the information above, SeaCrest Wealth Management abides by fiduciary duty. In layman’s terms, this means that SeaCrest must act in the best interests of its clients under any set of circumstances.
Based on its SEC-filed Form ADV, SeaCrest Wealth Management has no legal or regulatory disclosures in its past.
Opening an Account With SeaCrest Wealth Management
SeaCrest Wealth Management has advisory branches across 17 states, and each one has its own contact information. To get in touch with the firm’s primary office in Purchase, New York, you can call (914) 502-1900. A complete directory of each location’s phone number is available on SeaCrest’s website.
Where Is SeaCrest Wealth Management Located?
SeaCrest Wealth Management is based out of Purchase, New York, at 3010 Westchester Avenue, Suite 307. Here’s a complete list of all of the firm’s offices:
- Arizona: Scottsdale
- California: Irvine, Orinda, San Francisco, San Mateo
- Illinois: Lake Bluff, Naperville
- Florida: Vero Beach
- Kansas: Leawood
- Kentucky: Louisville
- Maine: Cumberland, Kennebunk
- Michigan: Troy
- Missouri: Kansas City
- New Hampshire: Center Sandwich
- New Jersey: Fairfield
- New York: Brooklyn, Purchase
- Ohio: Westerville
- Oregon: Medford
- South Carolina: Greenville, Spartanburg
- South Dakota: Rapid City
- Texas: Houston
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