Coastal Bridge Advisors Named to Financial Times 300 Top Registered Investment Advisers List
June 18, 2015 – Coastal Bridge Advisors is pleased to announce that it has been named to the Financial Times 300 Top Registered Investment Advisers. The list recognizes top independent RIA firms from across the U.S.
This is the second annual FT 300 list, produced independently by the FT in collaboration with Ignites Research, a subsidiary of the FT that provides business intelligence on the investment management industry. More than 2,000 elite RIA firms were invited to apply for consideration, based on their assets under management (AUM). The 630 RIA firms that applied were then graded six criteria: AUM; AUM growth rate; years in existence; advanced industry credentials; online accessibility; and compliance records.
The “average” FT 300 firm has been in existence for 23 years and manages $2.6 billion in assets. The 300 top RIAs hail from 34 states and Washington, D.C., and, on average, saw their total AUM rise by 18% in 2014.
The FT 300 is one in a series of rankings of top advisers that the FT developed in partnership with Ignites Research: the FT 401 (DC retirement plan advisers); the FT 400 (financial advisers from traditional broker-dealer firms); and the FT 100 (women financial advisers).
About Coastal Bridge Advisors:
With offices in Westport, Connecticut and Los Angeles, California, Coastal Bridge Advisors is an independent Registered Investment Advisor with over $1.6 Billion in client assets, offering a full range of wealth management and family office services to ultra-high-net worth individuals and families across the country. Often referred to as a ’Virtual Family Office‘, Coastal Bridge Advisors offers comprehensive wealth management solutions including financial planning, asset management, concentrated stock hedging, lending, cash management, alternative investment due diligence and family office services. More information about the firm can be found at www.coastalbridgeadvisors.com.
This third edition of the Financial Times 300 has assessed US registered investment advisers (RIAs) on desirable traits for investors. To ensure a list of established companies with deep, institutional expertise, FT examines the database of RIAs registered with the US Securities and Exchange Commission and selects those that reported to the SEC that they had $300m or more in assets under management (AUM). The Financial Times’ methodology is quantifiable and objective. The RIAs had no subjective input. The FT invited qualifying RIA companies — more than 1,500 — to complete a lengthy application that gave us more information about them. We added to this with our own research into their practices, including data from regulatory filings. Some 520 RIA companies applied and 300 made the final list. The formula the FT uses to grade advisers is based on six broad factors and calculates a numeric score for each adviser. Areas of consideration include adviser AUM, asset growth, the company’s age, industry certifications of key employees, SEC compliance record, and online accessibility.
The reasons these were chosen are as follows:
• AUM signals experience managing money and client trust.
• AUM growth rate can be a proxy for performance, as well as for asset retention and the ability to generate new business. FT assessed companies on both one-year and two-year growth rates.
• Companies’ years in existence indicates reliability and experience of managing assets through different market environments.
• Compliance record provides evidence of past client disputes; a string of complaints can signal potential problems.
• Industry certifications (CFA, CFP, etc) shows the company’s staff has technical and industry knowledge, and signals a professional commitment to investment skills.
• Online accessibility demonstrates a desire to provide easy access and transparent contact information. Assets under management and asset growth, combined, comprised roughly 80 to 85 per cent of each adviser’s score.
Additionally, the FT caps the number of companies from any one state. The cap is roughly based on the distribution of millionaires across the US. FT 300 is presented as an elite group, not a competitive ranking of one to 300. This is the fairest way to identify the industry’s elite advisers while accounting for the firms’ different approaches and different specialisations. The research was conducted on behalf of the Financial Times by Ignites Distribution Research, a Financial Times sister publication.
A complete rationale for the reasons that these categories were considered as well as the weighting for select categories can be found here: https://www.ft.com/content/37bd6974-31b9-11e6-ad39-3fee5ffe5b5b