Westmount Asset Management, LLC

CRD#158857
Investment Advisor Firm

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Overview

Westmount Asset Management, LLC operates as an advisory firm that has its headquarters in Los Angeles, California. Westmount Asset Management, LLC administers $3.8 billion in assets over 4,164 customer accounts, placing it among the largest financial advisory firms in the United States by assets under management (AUM). It has a small team, including 19 financial advisors. Westmount Asset Management, LLC does not act as a registered broker-dealer, signifying that it cannot buy and sell securities for its own accounts as well as its customers' and instead is required to go through a broker-dealer firm to do so. Securities are defined as exchangable fiscal investments such as bonds, options and stocks.

Westmount Asset Management, LLC manages the majority of the firm's accounts on a discretionary basis. Discretionary management signifies that transaction decisions are made by a portfolio manager without needing the client's permission. It also manages 448 non-discretionary accounts totaling $381.9 million in assets under management. Westmount Asset Management, LLC's typical account size is $921,586. The typical advisor at Westmount Asset Management, LLC manages about 219 client accounts.

The firm's main office is located at 2049 Century Park East, Los Angeles, California 90067. The firm is legally allowed to serve clients across 15 U.S. states and territories.

Assets Under Management

$3.8 billion

Number of Advisors

19

Disclosures

No

Office Location

2049 Century Park East
Los Angeles, CA 90067

Westmount Asset Management, LLC by the Numbers

Total Assets Under Management

$3.8 billion

National Average: $9.0 billion
Total Number of Employees

33

National Average: 71,771
Total Number of Accounts

4,164

National Average: 4,329
Average Account Size

$921.6 thousand

National Average: $2.1 million

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Products and Services

Westmount Asset Management, LLC provides a number of services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for institutional clients and selection of other advisers. In the last fiscal year, the company provided financial planning services to 251-500 of its accounts. The firm is not engaged in selling products or offering services aside from investment advice to its investment advisory customers.

Core Advisor Services

  • Offered by 31% of firms

    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 47% 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 21% of firms

    Selection of Other Advisors

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

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    Publication of Periodicals

    This is the publication of various financial education materials.

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    Educational Seminars/Workshops

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

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Fee Structure

Fees for financial management largely depend on which services the firm provides the client. Fee types charged by Westmount Asset Management, LLC typically consist of the following fee structures: asset-based. The firm does not supply a wrap fee program, in which the firm 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.

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 26% of firms that offer this fee type

    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.

  • 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

The firm manages money for a number of different investors. Westmount Asset Management, LLC provides services to retail investors, high net worth investors, pooled investment vehicles, pension plans, charitable organizations and corporations. Out of its 4,164 accounts, Westmount Asset Management, LLC's largest client type is high net worth investors, although it also serves 707 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of the company's accounts are represented by people from outside of the U.S.

  • High-Net-Worth Individuals* - 52.14%
  • Other Individuals - 45.21%
  • Corporations - 1.18%
  • Charitable Organizations - 1.47%

* 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

Westmount Asset Management, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Westmount Asset Management, LLC

Victoria Dyson
Los Angeles, CA
Scott Fellmeth
Los Angeles, CA
Michael Cannone
Los Angeles, CA
Dylan Wensley
Los Angeles, CA
Timothy Lonergan
Los Angeles, CA
Jeffrey Halbert
Los Angeles, CA
Philip Hagopian
Los Angeles, CA
Dimitri Krikelas
Los Angeles, CA
Lily Zhang
Los Angeles, CA

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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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