West Coast Financial, LLC (Santa Barbara)

Name: West Coast Financial, LLC
Address: 1525 State Street, Santa Barbara, CA, 93101
Telephone: 805-962-9131

West Coast Financial, LLC is a large advisory firm based in Santa Barbara. It manages $948.2 million of regulatory assets for 1,744 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Arizona, California, Colorado, and 8 other states.

West Coast Financial provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for approximately 600 clients. On top of advisory services, the firm doesn't engage in other business activities.

West Coast Financial: assets under management

The assets under management (AUM) of West Coast Financial, LLC is $948.2 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 264% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $948.2 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $543.69 thousand each.

West Coast Financial has custody of $7.7 million in cash and securities for 1 client 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 41% of the total AUM. The second-largest asset type is exchange traded securities, which make up 26% of the firm’s portfolio. Investments in cash and cash equivalents form 18% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay West Coast Financial, LLC for their services and products based on a percentage of assets under management 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 West Coast Financial serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of West Coast Financial is high net worth individuals with 256 clients and $732.45 million of assets under management. Among the 10 most similar advisory firms, West Coast Financial has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $948.2 million for 566 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.

West Coast Financial also advises several private funds. Namely, one real estate fund. The minimum investment commitment required of non-related persons is $50,000 for each fund.

Careers at West Coast Financial, LLC

The company employs 32 people that are either part- or full-time employees. 69 percent of the employees work as investment advisers or researchers. 22 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
Steven A Weintraub	Managing member, class a & b member	1 Sep 1980	25% - 50%	1157865
Euegene David Yossem	President and chief compliance officer	1 Sep 1980	50% - 75%	4356326
Brian Dennis Lloyd	Managing member and chief compliance officer	1 May 2007	25% - 50%	2917103
Brian Dennis Lloyd	Class b member	1 Jan 2008	25% - 50%	2917103
Aaron David Ritter	Class b member	1 Jan 2008	Other	5175154
Brian Dennis Lloyd	Chief compliance officer	1 Jan 2010	25% - 50%	2917103
Euegene David Yossem	Class a & b member	1 Jan 2011	Other	4356326
Brian Dennis Lloyd	Managing member	1 Jan 2011	25% - 50%	2917103
David Charles Gore	Class b member	1 Jan 2011	Other	1457688
Megan Kendall Van Den Bergh	Chief compliance officer	1 Jul 2015	Other	6302309
Jennifer Elaine Shinn	Director of operations	1 Jun 2016	Other	6381886
Lp Bsd Partners	Class a member	1 Jul 2016	25% - 50%	999999
Brian Dennis Lloyd	Chief compliance officer	1 Jan 2017	Other	2917103
Clayton Thomas Murdy	Chief compliance officer	1 Apr 2019	Other	4489494

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Euegene David Yossem	Partner	1 Jul 2016	50% - 75%	4356326
Steven A Weintraub	Partner	1 Jul 2016	50% - 75%	1157865

Based in Santa Barbara

The principal office where West Coast Financial, LLC performs its advisory services is located at 1525 State Street, Santa Barbara, CA 93101, which is also the mailing address of the firm. An additional office of the firm is in Avila Beach, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 805-962-9131 or by fax 805-962-4290. The normal business hours are m - th 8:30 am - 5:00 pm, f 8:30 am - 3 pm on Monday - Friday. You can find more information about the New York firm at wcfinc.com.