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Gurtin Municipal Bond Management Review

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Gurtin Municipal Bond Management, registered in 2007, serves 51 state(s) with a licensed staff of 19 advisors. Gurtin Municipal Bond Management manages $17.9 billion and provides investment advisory services for 3,760 clients (1:198 advisor/client ratio).



Firm Information


Summary Firm
Minimum Investment Ask firm
Average Client Balance $4,756,342
Total AUM $17.9 billion
Fee Range Ask firm
Advisor / Client Ratio 1:198
Languages Offered Ask firm
Specialities Ask firm
Website Visit Site
Phone Number 858-436-2200
Headquarters Solana Beach, CA
Locations See locations
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SEC Filings View SEC IAPD CRD #143597


Disciplinary Questions


After checking the disciplinary records of Gurtin Municipal Bond Management, our system has identified the following question(s) to ask. Learn more.


Gurtin Municipal Bond Management or an advisory affiliate was previously found guilty of making false statements or omissions by the SEC, CFTC, or another regulatory agency or organization.


What happened? When? How many times did it occur? Will anyone that was involved be involved with my accounts in any capacity?


Gurtin Municipal Bond Management or an advisory affiliate was previously involved with violating a regulation or statute by a domestic or foreign court, the SEC, CFTC, or another regulatory body or commodities exchange.


What happened? When? How many times did it occur? Will anyone that was involved be involved with my accounts in any capacity?


Gurtin Municipal Bond Management or an advisory affiliate has previously been fined or ordered to cease and desist activity by the SEC or CFTC.


What happened? When? How many times did it occur? Will anyone that was involved be involved with my accounts in any capacity?


The SEC, CFTC, or another regulatory agency has previously entered an order against Gurtin Municipal Bond Management or an advisory affiliate in connection with an investment-related activity.


What happened? When? How many times did it occur? Will anyone that was involved be involved with my accounts in any capacity?


Our system found no other disciplinary questions to ask. Checks take place monthly.



Conflict Questions


After checking the regulatory records of Gurtin Municipal Bond Management, our system has identified the following question(s) to ask. Learn more.


Is Gurtin Municipal Bond Management also a Broker-Dealer or are they affiliated with one? What conflicts arise from this relationship? How does Gurtin Municipal Bond Management mitigate them?


Currently Gurtin Municipal Bond Management is also a Broker-Dealer or is affiliated with one. When firms are dual-registered as broker-dealers, they may be subject to compensation-related conflicts of interest, including revenue sharing from mutual funds, cross-selling of commissioned insurance products, and the sale of proprietary investment products. All of these conflicts can negatively impact clients via hidden fees and overall higher costs.


Does Gurtin Municipal Bond Management offer mutual funds that have 12b-1 fees?


12b-1 fees increase the total annual cost of owning a mutual fund with no guarantee of higher returns. Some firms receive these fees as payments, which creates an incentive to promote them.


Regulatory disclosures state that Gurtin Municipal Bond Management sells proprietary investments and products. Please provide me a list of the products and a summary of how much Gurtin Municipal Bond Management earns from them.


Gurtin Municipal Bond Management recommends proprietary investments and products that could generate larger commissions than other similar non-proprietary products. This could also limit the number and diversity of investment options available to you and may impact their transferability. Do not be afraid to ask how much they will earn from the product or what other non-proprietary options are available.


Does Gurtin Municipal Bond Management offer products that have performance-based fees, or does it accept performance-based fees? Will any of my assets be invested in those products?


When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. While this may seem like an attractive compensation structure to ensure your advisor is making your money work for you, often, the managers of those products are incentivized to take inappropriate risks to beat their performance benchmark. For instance, research has shown that mutual funds that use incentive fees take on more risk that funds that do not, and tend to double down and increase their risk following a poor performance. This could be detrimental to a client during down markets.


Does Gurtin Municipal Bond Management perform side-by-side management? How does Gurtin Municipal Bond Management mitigate conflicts that arise from managing accounts with differing fee structures?


This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. Side-by-side management can create an incentive for the advisor to favor the larger funds, potentially leading to unequal trading costs and unfavorable trade executions for their retail clients.


Does Gurtin Municipal Bond Management recommend securities that it or its affiliates underwrite, or in which it serves as general or managing partner? Will any of my assets be invested in those products?


Gurtin Municipal Bond Management recommends securities that they may have recently taken public or otherwise have controlling interest over. This relationship could introduce bias where a firm and its advisors may push those products over others that may have a more favorable performance with which they are not affiliated.


Does Gurtin Municipal Bond Management accept soft-dollar benefits? How do these benefits affect the firm’s selection of a broker-dealer partner?


Gurtin Municipal Bond Management receives soft-dollar benefits that could incentivize them to push trades through broker-dealers that provide advantages to the firm instead of through broker-dealers that could provide the best trade execution for their clients.


Which securities does Gurtin Municipal Bond Management trade for itself that it will also be recommending to me?


Gurtin Municipal Bond Management has marked in their disclosures that they trade recommended securities. While this often can be seen as "eating your own cooking," there are several inherent conflicts that can arise. For example, front running is when a financial professional buys or sell securities ahead of their client. In short, any financial professional should disclose all positions they hold (or have sold short) that they will also be recommending to you.


Our system found no other conflict questions to ask. Checks take place monthly.



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Disciplinary History


An important aspect of the Trust Algorithm is processing the SEC Form ADV Part 1 filing of each Registered Investment Advisor (RIA). “Item 11 Disclosure Information” contains a list of valuable disclosures that are relevant for Americans.

As identified in SEC Form ADV Part 1, Item 11 “Disclosure Information”, the Trust Algorithm identified the following disciplinary disclosures for Gurtin Municipal Bond Management:




Cost


Unfortunately, there is no single, uniform pricing standard for working with a financial advisor. Catchphrases, including "fee-only," can be helpful; however, Americans often get confused with competitors promoting "fee-based" in response.

Ultimately, to understand the underlying costs of advisory services, we always recommend asking for an itemized fees breakdown and reading the firm's ADV Part 2 Brochure (Item 5, "Fees and Compensation").


View Fee Disclosures




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