Carmel Capital Partners, LLC (San Diego)


Carmel Capital Partners, LLC is a large advisory firm based in San Diego. It manages $162.72 million of regulatory assets for 195 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of California and Texas.

Carmel Capital Partners provides portfolio management for individuals and small businesses and portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Carmel Capital Partners: assets under management

The assets under management (AUM) of Carmel Capital Partners, LLC is $162.72 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 498% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $162.72 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $834.47 thousand each.
Carmel Capital Partners has custody of $1.65 million in cash and securities for 10 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 73% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 15% of the firm’s portfolio. Investments in investment grade corporate bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Carmel Capital Partners, LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Carmel Capital Partners serves?

The firm provides services to individuals, insurance companies, high net worth individuals, pooled investment vehicles, and pension and profit sharing plans. The largest group of clients of Carmel Capital Partners is high net worth individuals with 32 clients and $94.46 million of assets under management. Among the 8 most similar advisory firms, Carmel Capital Partners has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $162.72 million for 133 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.

Carmel Capital Partners also advises several private funds. Namely, one hedge fund and one real estate fund. The minimum investment commitment required of non-related persons ranges from $30,000 to $250,000.

Careers at Carmel Capital Partners, LLC

The company employs 5 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. 2 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
Russell Gavin Silberstein Managing member 1 Aug 2004 50% - 75% 4374792
Anthony Alan Josephson Managing member/chief compliance officer 1 Aug 2004 50% - 75% 4604638
Peter Woong Choe Chief compliance officer 1 Nov 2010 Other 2242571

Based in San Diego

The principal office where Carmel Capital Partners, LLC performs its advisory services is located at 11750 Sorrento Valley Road, San Diego, CA 92121, 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 858-457-7544 or by fax 858-457-7522. The normal business hours are 6:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at carmelcap.com.