Seaway Advisors

CRD#149745
Investment Advisor Firm

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Overview

Seaway Advisors operates as a financial advisor company headquartered in Fairport, New York. It has $37.0 million in assets under management throughout 87 client accounts. It has a small group, including 2 financial advisors. Seaway Advisors does not act as 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 is required to go through a broker-dealer firm to do so. Securities are exchangable financial investments such as equities, options and bonds.

Seaway Advisors manages all of its client assets in a discretionary manner. Discretionary management means that an investment advisor makes transaction judgments for the client's account without requiring client authorization. The advisory firm manages about $424,860 in assets for each account. The typical financial advisor at Seaway Advisors manages around 44 client accounts, placing it towards the middle in terms of personalization.

The company's central office is located at 1387 Fairport Rd, Fairport, New York 14450. The firm is legally permitted to provide services to clients in the state of New York.

Assets Under Management

$37.0 million

Number of Advisors

2

Disclosures

No

Office Location

1387 Fairport Rd
Fairport, NY 14450

Seaway Advisors by the Numbers

Total Assets Under Management

$37.0 million

National Average: $8.6 billion
Total Number of Employees

3

National Average: 64
Total Number of Accounts

87

National Average: 375,227
Average Account Size

$424.9 thousand

National Average: $23.0 thousand
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Fee Structure

Fees charged by financial advisors usually are based on which services are provided. Fees billed by the company typically consist of the following fee type: asset-based. The firm does not supply a wrap fee program, in which the company offers a service bundle for a comprehensive fee.

Available

  • Offered by 69% of firms

    Percentage of Assets

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    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

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    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 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.

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Types of Clients

The firm caters to retail investors, high net worth investors, pension plans and charitable organizations. Out of its 87 accounts, Seaway Advisors's biggest client group by number of accounts is retail investors, but it also manages money for 28 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its accounts are represented by people from outside of the U.S.

  • High-Net-Worth Individuals* - 32.18%
  • Other Individuals - 63.22%
  • Corporations - 1.15%
  • Charitable Organizations - 3.45%

* 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

Seaway Advisors does not have any disclosures.

Please visit its Form ADV for more details.

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