Seacrest Wealth Management, LLC (Purchase)

Name: Seacrest Wealth Management, LLC
Address: 3010 Westchester Avenue, Purchase, NY, 10577
Telephone: 914-502-1900

Seacrest Wealth Management, LLC is a large advisory firm based in Purchase. It manages $696.1 million of regulatory assets for 3,181 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Arizona, California, Colorado, and 27 other states.

Seacrest Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Seacrest Wealth Management: assets under management

The assets under management (AUM) of Seacrest Wealth Management, LLC is $696.1 million. The firm's AUM has grown by 1292% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $658.58 million in discretionary accounts and $37.52 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $210.01 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $833.8 thousand.

Seacrest Wealth Management has custody of $186.84 million in cash and securities for 546 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 50% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 31% of the firm’s portfolio. Investments in investment and business development companies form 18% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Seacrest Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Seacrest Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Seacrest Wealth Management is individuals with 422 clients and $398.42 million of assets under management. Among the 9 most similar advisory firms, Seacrest Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $688.1 million for 545 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Seacrest Wealth Management doesn't advise any private funds.

Careers at Seacrest Wealth Management, LLC

The company employs 51 people that are either part- or full-time employees. 82 percent of the employees work as investment advisers or researchers. 39 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Edward Malachy Sullivan	President, chief compliance officer, managing partner	1 Apr 2008	50% - 75%	849142
Llc Seacrest Management	Member	1 Apr 2008	50% - 75%	20-8837033
Llc Sea Crest Management	Owner	1 Apr 2008	50% - 75%	20-8837033
Rajesh Kumar Gupta	Managing partner	1 Jul 2009	Other	1730260
Richard Raymond Sanchez	Managing partner	1 Jul 2009	Other	1126551
Ronald R Lenihan	Managing partner	1 Jul 2009	Other	1673704

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Rajesh Kumar Gupta	Managing member	1 Apr 2008	25% - 50%	1730260
Richard Raymond Sanchez	Managing member	1 Apr 2008	25% - 50%	1126551
Ronald R Lenihan	Managing member	1 Apr 2008	25% - 50%	1673704

Based in Purchase

The principal office where Seacrest Wealth Management, LLC performs its advisory services is located at 3010 Westchester Avenue, Purchase, NY 10577, which is also the mailing address of the firm. An additional office of the firm is in Cumberland Foreside, ME. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 914-502-1900 or by fax 914-251-1312. The normal business hours are 9:30 am - 4:00 pm on Monday - Friday. You can find more information about the New York firm at seacrestwm.com.