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Ocean Avenue Wealth Management Review

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Ocean Avenue Wealth Management, registered in 2010, serves 1 state(s) with a licensed staff of 1 advisors. Ocean Avenue Wealth Management manages $99.0 million and provides investment advisory services for 32 clients (1:32 advisor/client ratio).



Firm Information


Summary Firm
Minimum Investment Ask firm
Average Client Balance $3,093,300
Total AUM $99.0 million
Fee Range Ask firm
Advisor / Client Ratio 1:32
Languages Offered Ask firm
Specialities Ask firm
Website Visit Site
Phone Number 310-451-0515
Headquarters Santa Monica, CA
Locations See locations
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SEC Filings View SEC IAPD CRD #154655


Disciplinary Questions


After checking the disciplinary records of Ocean Avenue Wealth Management, our system found no disciplinary questions to ask. Checks take place monthly.



Conflict Questions


After checking the regulatory records of Ocean Avenue Wealth Management, our system has identified the following question(s) to ask. Learn more.


What percentage of income does Ocean Avenue Wealth Management receive from fees versus commissions?


Ocean Avenue Wealth Management can accept commissions for its investment advisory services. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. While this allows for a broader range of investment options and management styles a firm can offer, it can also create an incentive for the firm to put their financial interests ahead of your own. Is the firm’s purpose to provide you financial planning and ongoing advice or to sell commission-based products to its clients?


Does Ocean Avenue Wealth 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.


How does Ocean Avenue Wealth Management approach insurance sales? What conflicts do I need to be made aware of?


Currently Ocean Avenue Wealth Management actively practices as insurance brokers or agents, or they are affiliated with an insurance company or agency. This arrangement creates a conflict where the firm and its representatives may be motivated to insure clients with products, including annuities and life insurance, that generate high sales commissions when lower-cost alternatives may exist.


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


Ocean Avenue Wealth 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 Ocean Avenue Wealth 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 Ocean Avenue Wealth Management perform side-by-side management? How does Ocean Avenue Wealth 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.


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 Ocean Avenue Wealth 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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This automated report was generated using SEC and FINRA data and was last updated on September 4th, 2021*. For data support, email "support@investor.com". Firms that receive a 4.5 or 5-star rating are considered Trusted by investor.com. Learn more.


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