Main Street Advisors

CRD#305170
Investment Advisor Firm

Answer a few questions and
get matched with an advisor.

Find an Advisor

Overview

Main Street Advisors operates as a financial advisor firm that has its headquarters in Santa Monica, California. Main Street Advisors controls $7.9 billion in total assets throughout 194 accounts, placing it among the largest financial advisory firms in the United States by assets under management (AUM). The firm has a small team, including 15 financial advisors. Main Street Advisors does not act as a registered broker-dealer, meaning the company cannot buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer company to do so. Securities are tradable fiscal investments like bonds, options and equities.

Main Street Advisors manages more than half of the company's accounts on a discretionary basis. Discretionary management is a structure in which a portfolio manager makes transaction choices without requiring client authorization. Main Street Advisors also manages 60 non-discretionary accounts with a total of $2.0 billion in assets under management. The company manages about $41.0 million for each customer account. The average advisor at Main Street Advisors manages around 13 client accounts, placing it among the more personalized financial advisor firms in the country.

The company's main office is located at 3110 Main Street, Santa Monica, California 90405. It is registered to serve clients throughout a number of states, including California and Texas.

Assets Under Management

$7.9 billion

Number of Advisors

15

Disclosures

No

Office Location

3110 Main Street
Santa Monica, CA 90405

Main Street Advisors by the Numbers

Total Assets Under Management

$7.9 billion

National Average: $8.6 billion
Total Number of Employees

27

National Average: 64
Total Number of Accounts

194

National Average: 375,227
Average Account Size

$41.0 million

National Average: $23.0 thousand
Back to Overview
Back to Overview

Products and Services

Main Street Advisors offers multiple services, which can include portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for institutional clients and selection of other advisers. However, it did not provide financial planning services to any of its accounts in the last financial year. It is not involved in selling products or offering services aside from investment advisory services to its investment advisory customers. It is affiliated with one or more other companies in the financial services industry, including with a broker-dealer or securities dealer and commodity pool advisor.

Core Advisor Services

  • Find a firm that offers this service

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 46% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 20% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    Publication of Periodicals

    This is the publication of various financial education materials.

  • Find a firm that offers this service

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

Back to Overview

Fee Structure

Fees charged by financial advisors largely vary depending on which services the firm provides the client. Fee types billed by the firm likely consist of any combination of the following fee structures: asset-based or performance-based. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by Main Street Advisors.

Available

  • Offered by 69% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 26% of firms

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

Unavailable

  • Find one of the 21% of firms that offer this fee type

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Find one of the 1% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 32% of firms that offer this fee type

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

  • Find one of the 10% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

Back to Overview

Types of Clients

Main Street Advisors caters to high net worth investors and pooled investment vehicles. Out of its 194 customers, Main Street Advisors's biggest client group by number of accounts is pooled investment vehicles, though it also caters to 58 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 under management or a net worth of more than $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of the firm's clients are from outside of the U.S.

  • High-Net-Worth Individuals* - 36.94%
  • Other Individuals - 0%
  • Corporations - 63.06%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

Find an advisor who will work directly with you

Sometimes a big firm may not be able to give you the one-on-one service that you need. That's where we come in to help match you with great personal financial advisors. Click here to find your advisor matches today.

Back to Overview

Disclosures

Main Street Advisors does not have any disclosures.

Please visit its Form ADV for more details.

Back to Overview
Back to Overview

Find a financial advisor near you

If you're interested in working with an advisor closer to you, we can help you find one. Click here to find your advisor matches today.

Back to Overview

The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

The named financial professional and firm have not reviewed, approved, or endorsed this profile and are not responsible for its accuracy. Profile content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named financial professional and firm. Financial professionals and firms having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s profiles.

This profile may include a firm or advisor that has a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. SmartAsset is not a client of the aforementioned firms or advisors. SmartAsset did not receive compensation for including any of the firms or advisors in the aforementioned profile.

This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the advisor or firm mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor).

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.