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Learn more about Redmile Group
Redmile Group operates as an advisory firm headquartered in San Francisco, California. It handles $7.2 billion in assets under management over 27 customer accounts, placing it among the largest financial advisory firms in the United States by assets under management (AUM). The firm has a small group, including 20 financial advisors. Redmile Group does not act as a registered broker-dealer, meaning it cannot buy and sell securities for its clients' and own accounts and instead has to go through a broker-dealer company to do so. Securities are tradable financial assets like bonds, equities and options.
Redmile Group oversees all of the firm's client assets on a discretionary basis. Discretionary management is a structure in which an investment advisor makes transaction decisions without requiring client approval. The advisory firm's typical account size is $268.0 million. The average financial advisor at Redmile Group oversees around one client account, making it one of the most personalized financial advisor firms in the country.
The company's main office is located at One Letterman Drive, San Francisco, California 94129. The company is allowed to provide services to clients throughout a few states, including California and New York.
Assets Under Management
Number of Advisors
Redmile Group by the Numbers
Fees for financial management usually depend on the type of financial services offered. However, fee types charged by Redmile Group likely are comprised of any blend of the following fee types: asset-based or performance-based. Redmile Group does not provide a wrap fee program, in which the company offers a bundle of services for a comprehensive fee.
Offered by 69% of firms
Percentage of AssetsShow 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
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.
Find one of the 21% of firms that offer this fee type
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
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
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 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
Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.
Types of Clients
Redmile Group works with pooled investment vehicles. Out of its 27 customers, Redmile Group's biggest client group is pooled investment vehicles. About 52% of the company's accounts are represented by non-U.S. persons.
- 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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Redmile Group does not have any disclosures.
Please visit its Form ADV for more details.
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