Bluesky Wealth Advisors, LLC (New Bern)

Name: Bluesky Wealth Advisors, LLC
Address: 2131 S Glenburnie Road, New Bern, NC, 28562
Telephone: 252-633-0107

Bluesky Wealth Advisors, LLC is a large advisory firm based in New Bern. It manages $426.08 million of regulatory assets for 1,232 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of California, Florida, Georgia, and 4 other states.

Bluesky Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, and consulting services. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bluesky Wealth Advisors: assets under management

The assets under management (AUM) of Bluesky Wealth Advisors, LLC is $426.08 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 122% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $426.08 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $345.84 thousand each.

Bluesky Wealth Advisors has custody of $82.19 million in cash and securities for 131 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 93% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 3% of the firm’s portfolio. Investments in exchange traded securities form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bluesky Wealth Advisors, LLC for their services and products based on hourly charges and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Bluesky Wealth Advisors serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Bluesky Wealth Advisors is high net worth individuals with 137 clients and $345.64 million of assets under management. Among the 9 most similar advisory firms, Bluesky Wealth Advisors has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $426.08 million for 286 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Bluesky Wealth Advisors doesn't advise any private funds.

Careers at Bluesky Wealth Advisors, LLC

The company employs 11 people that are either part- or full-time employees. 73 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone 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
David Laurence Blain	Managing member/chief compliance officer	1 Jan 1999	50% - 75%	3174553
Caroline Wight Blain	Member	1 Jan 2012	25% - 50%	5705887

Based in New Bern

The principal office where Bluesky Wealth Advisors, LLC performs its advisory services is located at 2131 S Glenburnie Road, New Bern, NC 28562 The mailing address of the firm is Po Box 13845, New Bern, NC 28561. An additional office of the firm is in San Jose, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 252-633-0107. The normal business hours are by appointment on Monday - Friday. You can find more information about the New York firm at blueskywa.com.