Black Coral Financial Advisors, LLC

CRD#154623
Investment Advisor Firm

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Overview

Black Coral Financial Advisors, LLC operates as a financial advisor company that has its headquarters in Budd Lake, New Jersey. The company controls $752.3 million in assets under management throughout 1,845 customer accounts, making it one of the bigger investment advisory firms in the country by assets under management (AUM). The firm has a small group, including 6 financial advisors. Black Coral Financial Advisors, LLC is not a registered broker-dealer, meaning the firm is not able to buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer firm to do so. Securities are tradable financial assets like stocks, options and bonds.

Black Coral Financial Advisors, LLC administers 795 of its client assets in a discretionary manner. Discretionary management is a structure in which an investment advisor has the discretion to make transaction decisions for the client's account without needing to seek the customer's permission. It also has 1,050 non-discretionary accounts with a total of $237.3 million in assets under management. The advisory firm's average account size is $407,753. An average advisor at Black Coral Financial Advisors, LLC administers around 308 client accounts.

Black Coral Financial Advisors, LLC's headquarters is located at 500 International Drive, Budd Lake, New Jersey 7828. Black Coral Financial Advisors, LLC is permitted to serve customers across a number of states, including Arizona, California, Florida, Georgia, Massachusetts, Michigan, New Jersey, New York, Pennsylvania and Texas.

Assets Under Management

$752.3 million

Number of Advisors

6

Disclosures

No

Office Location

500 International Drive
Budd Lake, NJ 07828

Black Coral Financial Advisors, LLC by the Numbers

Total Assets Under Management

$752.3 million

National Average: $8.6 billion
Total Number of Employees

7

National Average: 64
Total Number of Accounts

1,845

National Average: 375,227
Average Account Size

$407.8 thousand

National Average: $23.0 thousand
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Products and Services

Black Coral Financial Advisors, LLC provides a number of services, which can include financial planning services, portfolio management for individuals and small businesses, selection of other advisers and educational seminars. In the past fiscal year, the company provided 251-500 of its customers with financial planning services. The firm does sell products or offer services aside from investment advisory services to its 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 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.

  • Offered by 6% of firms

    Educational Seminars/Workshops

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

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Fee Structure

Fees charged by financial advisors largely vary depending on which service is offered. However, fee types billed by the company most likely include the following fee structures: asset-based or fixed. The company does not supply a wrap fee program, in which the company offers a service bundle for a single fee.

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 32% of firms

    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.

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 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 company works with high net worth investors. Out of its 1,845 clients, Black Coral Financial Advisors, LLC's biggest client by number of accounts is high net worth investors, though it also caters to 252 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of its clients are represented by non-U.S. persons.

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

Black Coral Financial Advisors, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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