Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Pension Consulting Services
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Charitable Organizations
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Blue Summit Wealth Management Overview
Blue Summit Wealth Management is a registered investment advisory firm that provides investment advice only to its clients. It is a fee-only firm, meaning that it charges a fixed fee for all of its services and does not receive any commissions from the sale of financial products. The firm is headquartered in La Mesa, California and has been in business since 2019. One of the core services offered by Blue Summit Wealth Management is financial planning. This service helps clients to assess their current financial situation, set financial goals, and develop a plan to achieve those goals. The firm offers a range of financial planning services, including retirement planning, tax planning, estate planning, and education funding. The firm also offers portfolio management for individuals and small businesses. This service helps clients to build and manage an investment portfolio that is tailored to their financial goals and risk tolerance. The portfolio management service includes ongoing monitoring and rebalancing of the portfolio to ensure that it remains aligned with the client's investment objectives. In addition to financial planning and portfolio management, Blue Summit Wealth Management also offers pension consulting services. This service is designed for businesses that offer pension plans to their employees. The firm provides advice on plan design, compliance with regulatory requirements, and investment management for the pension plan. Overall, Blue Summit Wealth Management offers a comprehensive set of services that are designed to help clients achieve their financial goals.
When it comes to providing financial services to clients, BLUE SUMMIT WEALTH MANAGEMENT caters to a diverse range of clients, including individuals, high net worth individuals, and charitable organizations. Their tailor-made approach towards servicing clients has helped them forge strong relationships over the years. The firm prides itself on providing innovative solutions to address each client's unique financial goals and needs. BLUE SUMMIT WEALTH MANAGEMENT provides its clients with a wide range of fee structures to choose from depending on the service provided. The common fee structures that they offer are percentage of AUM, hourly, and fixed fees. The percentage of AUM is calculated based on the overall value of the assets under management. This fee structure aligns the interest of the client and the firm and ensures both parties are working towards the same objective. The hourly fee is usually applied when clients need advice, expertise, or financial planning in more specific areas within their portfolios. The fixed fees, on the other hand, is negotiated on an individual basis and is typically applicable for clients who want to have their assets managed but prefer to have a predictable and fixed expense each month. These fee structures provide clients with the flexibility to choose an option that fits their specific needs.
Typical Clients, Fee Structures & Investment Minimum
The Part 2 Brochure for Blue Summit Wealth Management states that they do not require a specific minimum dollar amount to open and maintain an advisory account. However, they reserve the right to terminate an account if it falls below a size deemed too small to manage effectively by the firm in their sole opinion. Therefore, it can be inferred that Blue Summit Wealth Management does not have a set investment minimum but will monitor accounts to ensure they are within an acceptable size range for effective management.
How This Office Can Help La Mesa, CA Residents
Blue Summit Wealth Management's Sustainable Investing services can assist clients in La Mesa, CA in a number of ways. For starters, the team can help clients understand and achieve their long-term financial goals while also taking into account social and environmental issues. This can be especially important for clients in La Mesa, where residents may be concerned about the impact of climate change on the region. Sustainable investing can help address those concerns by investing in companies that are actively working to reduce greenhouse gas emissions or mitigate the effects of climate change. Another potential benefit of working with Blue Summit Wealth Management is that the team can help clients navigate the sometimes complex world of sustainable investing. For example, they can help clients identify investment opportunities that align with their values and also offer competitive returns. This can be especially important for clients who may be concerned about the cost of living in La Mesa, which is higher than the national average. By investing in companies that are both financially sound and socially responsible, clients can potentially earn returns that help them achieve their financial goals while also contributing to a more sustainable future.
Services Offered by Blue Summit Wealth Management
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 Blue Summit Wealth Management 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.
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.
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.
Unavailable
Subscription (Newsletter or Periodical)
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.
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).
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
- Mon 9:30 AM–5 PM
- Tue 9:30 AM–5 PM
- Wed 9:30 AM–5 PM
- Thu 9:30 AM–5 PM
- Fri 9:30 AM–5 PM
- Sat Closed
- Sun Closed
Other Office Locations
This firm has no other locations.
State Registrations
Blue Summit Wealth Management is registered to service clients in the following states:
- Arizona
- California
- Colorado
- Massachusetts
- Oregon
- Texas
- Utah
Disciplinary History
Blue Summit Wealth Management does not have any disclosures. Please visit it's Form ADV for more details.