Redmile Group

CRD#143606
Investment Advisor Firm

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Overview

Redmile Group is a financial advisory firm located in San Francisco, California. The company manages $11.6 billion in assets under management over 26 accounts, placing it among the biggest financial advisory firms in the country by assets under management (AUM). It has a small group, including 21 financial advisors. Redmile Group is not a registered broker-dealer, meaning the company is not able to buy and sell securities for its own accounts as well as its clients' and instead must go through a broker-dealer firm to do so. Securities are defined as exchangable financial assets such as bonds, stocks and options.

Redmile Group manages all of the firm's client assets in a discretionary manner. Discretionary management means that a portfolio manager has the discretion to make buy and sell judgments without requiring client permission. The firm supervises about $445.5 million in assets for every client account. An average financial advisor at Redmile Group manages around one client account, placing it among the most personalized advisor firms in the country.

Redmile Group’s headquarters is located at One Letterman Drive, San Francisco, California 94129. The company is legally permitted to provide services to clients across a number of states, including California and New York.

Assets Under Management

$11.6 billion

Number of Advisors

21

Disclosures

No

Office Location

One Letterman Drive
San Francisco, CA 94129

Redmile Group by the Numbers

Total Assets Under Management

$11.6 billion

National Average: $9.0 billion
Total Number of Employees

39

National Average: 71,771
Total Number of Accounts

26

National Average: 4,329
Average Account Size

$445.5 million

National Average: $2.1 million

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Fee Structure

Fees charged by financial advisors usually are based on which services are provided. Fee types charged by Redmile Group most likely include some blend of the following fee types: asset-based or performance-based. The company does not participate in a wrap fee program, in which the company offers a bundle of services for a comprehensive fee.

Available

  • Offered by 70% 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 33% 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.

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Types of Clients

It caters to pooled investment vehicles. Out of its 26 customers, Redmile Group's biggest client type is pooled investment vehicles. About 50% of its clients are represented by people from outside of the U.S.

  • High-Net-Worth Individuals* - 0%
  • Other Individuals - 0%
  • Corporations - 100%
  • 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.

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Disclosures

Redmile Group does not have any disclosures.

Please visit its Form ADV for more details.

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The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data compiled from the SEC and FINRA. To report any data inconsistencies or errors, please contact profile-compliance@smartasset.com.

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