Tortuga Advisers LLC (Simi Valley)

Tortuga Advisers LLC is a large advisory firm based in Simi Valley. It manages $362.06 million of regulatory assets for 48 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdiction of California.

Tortuga Advisers provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Tortuga Advisers: assets under management

The assets under management (AUM) of Tortuga Advisers LLC is $362.06 million. The firm's AUM has grown by 27% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $41.53 million in discretionary accounts and $320.53 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $6.92 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $7.63 million.

Tortuga Advisers has custody of $19.14 million in cash and securities for 4 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 63% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 14% of the firm’s portfolio. Investments in government bonds form 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Tortuga Advisers LLC for their services and products based on a percentage of assets under management and fixed 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 Michael Frank Schaible serves?

The firm provides services to charitable organizations and high net worth individuals. The largest group of clients of Michael Frank Schaible is high net worth individuals with 47 clients and $332.68 million of assets under management. Among the 11 most similar advisory firms, Tortuga Advisers has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $362.06 million for 48 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.

Tortuga Advisers doesn't advise any private funds.

Careers at Tortuga Advisers LLC

The company employs 1 person that is either a part- or full-time employee. 100 percent of the employees work as investment advisers or researchers. No 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
Michael Frank Schaible	President	1 Oct 2005	75% - 100%	852930

Based in Simi Valley

The principal office where Tortuga Advisers LLC performs its advisory services is located at 2655 First Street, Simi Valley, CA 93065, 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 626-683-2200 or by fax 805-584-2140. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday.