SeaCrest Wealth Management is a large financial advisory firm located in Purchase, New York. It is included on our list of the top financial advisors in Purchase. This large, fee-based financial advisory firm has a large group of on-staff advisors and over a billion dollars in assets under management (AUM). Aside from its headquarters in New York, SeaCrest employs advisors in a handful of other states. The firm’s clients have access to investment management, financial planning, consulting and retirement plan advisory services.
As a fee-based firm, certain advisors at SeaCrest can sell financial products on a commission basis. This arrangement differs from that of a fee-only firm, which only earns compensation from client-paid fees.
SeaCrest Wealth Management Background
Founded in 2008, SeaCrest Wealth Management is principally owned by the 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 about 100 years of collective experience in investment management, making them bona fide veterans.
The advisory team at SeaCrest includes certified financial planners (CFPs), chartered financial analysts (CFAs) and certified investment management analysts (CIMAs), among other certifications.
SeaCrest Wealth Management Client Types and Minimum Account Sizes
Non-high-net-worth individuals and businesses make up the vast majority of the client base at SeaCrest Wealth Management. High-net-worth individuals, estates, trusts, retirement plans and charitable organizations round out the firm’s typical clientele.
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 are available
- Portfolios are 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 is 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% annual fee that’s paid in advance, on a quarterly basis.
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% annual fee|
|Financial planning/consulting||Negotiable fixed or hourly fees*|
|Use of independent managers||Fees based on managers’ proprietary rates (won't exceed 3% annually)|
*Financial planning and consulting service fees can be waived if the Client engages the firm for investment management services.
What to Watch Out For
Based on its SEC-filed Form ADV, SeaCrest Wealth Management has no legal or regulatory disclosures in its past.
SeaCrest Wealth Management is a fee-based firm, meaning it employs advisors who 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 or securities. Regardless of this, SeaCrest Wealth Management abides by fiduciary duty, which means it must act in the best interests of its clients under all circumstances.
Opening an Account With SeaCrest Wealth Management
SeaCrest Wealth Management has advisory branches across various 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.
All information is accurate as of the writing of this article.
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