Newport Wealth Strategies, Inc. (Irvine)

Name: Newport Wealth Strategies, Inc.
Address: 3333 Michelson Dr., Irvine, CA, 92612
Telephone: 949-484-4700

Newport Wealth Strategies, Inc. is a large advisory firm based in Irvine. It manages $248.87 million of regulatory assets for 501 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of California, Louisiana, and Texas.

Newport Wealth Strategies provides portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Newport Wealth Strategies: assets under management

The assets under management (AUM) of Newport Wealth Strategies, Inc. is $248.87 million. The firm's AUM has grown by 23% since the beginning of its operation, and $1.73 million of the total AUM is attributable to clients outside of the United States.

The firm manages $218.28 million in discretionary accounts and $30.59 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $438.3 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $10.2 million.

Newport Wealth Strategies has custody of $72.89 million in cash and securities for 145 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 50% of the total AUM. The second-largest asset type is state and local bonds, which make up 23% of the firm’s portfolio. Investments in cash and cash equivalents form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Newport Wealth Strategies, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Newport Wealth Strategies serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Newport Wealth Strategies is individuals with 197 clients and $152.01 million of assets under management. Among the 10 most similar advisory firms, Newport Wealth Strategies has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $246.72 million for 221 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Newport Wealth Strategies doesn't advise any private funds.

Careers at Newport Wealth Strategies, Inc.

The company employs 4 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Darin Albert Simonian	Principal and shareholder	1 Oct 2011	75% - 100%	2214836
Christina Marie Walsh	Chief compliance officer	1 Jun 2016	Other	6196929

Based in Irvine

The principal office where Newport Wealth Strategies, Inc. performs its advisory services is located at 3333 Michelson Dr., Irvine, CA 92612, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 949-484-4700 or by fax 949-484-4703. The normal business hours are 8:30am - 4:30pm on Monday - Friday. You can find more information about the New York firm at newportwealthstrategies.com.