Firm Info
Firm Size
Services Offered
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management of Pooled Investment Vehicles
- Pension Consulting Services
- Selection of Others Advisors
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Pooled Investment Vehicles
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Performance-based Fees
Gold Coast Wealth Management, LLC Overview
Gold Coast Wealth Management, LLC is a registered investment advisory firm based in Jericho, NY. Since its founding in 2011, the firm has operated on a fee-based model, meaning clients pay a set fee for their services. As an investment advice-only firm, Gold Coast Wealth Management focuses solely on providing advice to clients, rather than selling products or investments. Their services include portfolio management for individuals and small businesses, as well as the management of pooled investment vehicles. The firm also offers pension consulting services to help businesses manage their employee retirement plans and benefits. Additionally, Gold Coast Wealth Management offers a selection of other advisors, allowing clients to diversify their investments with a range of expert opinions and strategies. Overall, Gold Coast Wealth Management, LLC is an experienced and reputable investment advisory firm, dedicated to providing personalized and comprehensive financial advice to their clients. With expertise in portfolio management, pension consulting, and the selection of other advisors, Gold Coast Wealth Management is a versatile and valuable partner for individuals and businesses looking to manage their finances effectively.
GOLD COAST WEALTH MANAGEMENT, LLC caters to a diverse range of clients, including individuals, high net worth individuals, and pooled investment vehicles. With an unwavering commitment to providing exceptional financial advisory services, the company prides itself on being a client-centric firm that is dedicated to understanding and meeting the unique needs of each client. Their ability to serve clients from different backgrounds is a testament to the firm's expertise, professionalism, and experience. When it comes to fee structures, GOLD COAST WEALTH MANAGEMENT, LLC offers flexible options depending on the service provided. One of the most commonly used fee structures is a percentage of AUM or assets under management. This structure typically involves charging a percentage of the total assets being managed by the firm. Additionally, the company provides performance-based fees, which are fees that are charged based on how well investments perform. These fees are often used for investment advisory services and align the interests of the client with those of the firm. The company ensures that all their clients have access to affordable and customized fee structures that suit their unique needs and financial objectives, thus allowing them to grow their wealth while mitigating risks. Overall, GOLD COAST WEALTH MANAGEMENT, LLC's fee structures are designed to promote transparency, build trust, and deliver exceptional value to clients.
Typical Clients, Fee Structures & Investment Minimum
According to the Part 2 Brochure of Gold Coast Wealth Management, LLC, it is stated that "Our account minimum for traditional account management services is generally $500,000, although we may establish different investment minimums for different types of accounts or at our discretion." Therefore, the investment minimum for traditional account management services at Gold Coast Wealth Management, LLC is $500,000, although they may set different investment minimums for other types of accounts.
How This Office Can Help Glen Head, NY Residents
Gold Coast Wealth Management offers comprehensive financial planning services to clients in Glen Head, NY. With over two decades of experience, our team of experts helps individuals and families navigate complex financial situations. We strive to create customized plans that align with our clients' financial goals and objectives. As residents of Glen Head may face high living costs and large premiums for property and casualty insurance needs, it's essential to have a financial advisor who understands the unique financial challenges they face. Our team's knowledge and expertise in estate planning, retirement planning, and investment management can help clients secure their financial futures. We also provide guidance on tax strategies and risk management to help mitigate potential financial setbacks. Our goal is to help Glen Head residents achieve financial peace of mind, whether they are looking to plan for retirement, save for college, or build their wealth through investments.
Services Offered by Gold Coast Wealth Management, LLC
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Gold Coast Wealth Management, LLC most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Unavailable
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Subscription (Newsletter or Periodical)
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
Other Office Locations
This firm has no other locations.
State Registrations
Gold Coast Wealth Management, LLC is registered to service clients in the following states:
- California
- Connecticut
- Florida
- Kentucky
- New Jersey
- New York
- Texas
Disciplinary History
Gold Coast Wealth Management, LLC does not have any disclosures. Please visit it's Form ADV for more details.