Firm Description
Blackridge Asset Management LLC, herein referred to as "BAM", "we", "us", or "Firm", was formed in
2015and is a wholly owned subsidiary of Peak Reps LLC, a privately owned entity, which also owns
Peak Brokerage Services LLC (“Peak Brokerage”) , a FINRA and SIPC member securities broker/dealer
and Top Advisors Group, LLC (“TAG”), an insurance agency registered with multiple state insurance
regulators Peak Reps LLC retains 100% ownership of BAM, Peak Brokerage and TAG and is co-
owned by eight partners with each owning less than 20%of Peak Reps LLC.
BAM was registered initially in 2015 as an SEC-registered advisory firm and is currently headquartered
in Jupiter, Florida.
BAM offers clients a variety of advisory programs and services, as described in this brochure. For
additional information about BAM, a copy of the Firm's Form ADV Part 1 is publicly available at the
SEC's website
at www.adviserinfo.sec.gov. In addition, a copy of its Form ADV Parts 2A, Part 3 and Part
2B, collectively known as the Firm’s Disclosure Document and Brochure Supplement, is available in its
entirety upon request by contacting Matt Reynolds , Chief Compliance Officer, at 561-641-5050.
Our Investment Advisor Representatives (IARs), utilize third party money manager models and also
have the ability to create models and manage those models on behalf of clients through various
Adviser as Portfolio Manager Programs.
In addition to the programs and services offered directly by BAM, our IARs have access to a number
of other registered investment advisory (RIA) firms or Third-Party Money Managers (“Providers”)
through sales agreements or promoter relationships. While promotion on behalf of a third-party RIA,
our advisors may be acting as either a promoter for that other RIA or, in some cases, under a co-
advisory agreement between BAM and that third-party firm. As a promoter or co-advisor, the fee
schedule and other material information regarding a client’s account will be governed by that third-
party advisory firm. At the time of any solicitation, however, the prospective client would receive
BAM’s Disclosure Document (Form ADV Part 2A and Part 3), the third-party advisory firm’s Form ADV,
a copy of each firm’s privacy policy and, for promoter relationships, copies of required disclosure
documents and/or other disclosure documents (i.e. third-party wrap fee brochure, your respective
IAR’s Form ADV Part 2B). Clients are directed to review these disclosure documents thoroughly before
engaging advisory services.
The fee schedules, billing formulas and methods, maximum/minimum fees and other charges, as well
as account and program minimums, may be unique to each Provider firm. Detailed information
regarding each firm can be obtained by reviewing their respective disclosure documents.
BAM does not offer a wrap program, but many of BAM Providers do. By definition, a wrap fee program
seeks to provide clients with a “bundle” of advisory services wrapped together with only one
comprehensive fee charged to the client by the investment advisor. The “bundle” generally is inclusive
of such services as investment advice, investment research, brokerage services, financial planning
and/or generally related professional consulting and allow the advisor to charge one straightforward
fee to the client, which simplifies the process for both the client and the advisor. IARs and Clients may
take advantage of these wrap programs. While wrap programs may incorporate additional services
not normally provided under a standard asset management program, there is no difference in how
actual asset management is conducted under either arrangement. Clients preferring this type of
advisory service may do so by engaging a BAM Provider that does provide a wrap platform. Clients
electing this option may continue to utilize BAM as their adviser with the wrap service advisor serving
as their third-party asset manager.
Regardless of which program is selected, each allocation of client assets will be driven by a client
profile and/ or risk tolerance questionnaire (the “Questionnaire”). The asset allocation proposal is
based upon a client’s responses to the Questionnaire and is instrumental in assisting both the client
and the advisor in making informed asset allocation decisions. Clients should consider all of their
assets, income and investments when deciding if/when to adopt, modify or reject a proposed asset
allocation. Clients may impose a ceiling on the percentage of assets they are willing to allocate
to certain asset classes. However, if restrictions are imposed on the advisor, a client may receive an
asset allocation proposal that differs from the allocation that would otherwise be considered to be
appropriate. Clients who do not impose any restrictions are likely to receive asset allocation proposals
that are similar to proposals presented to other clients with similar investment profiles.
BAM is primarily a fee-only investment advisory firm. Some IARs of the Firm, however, may be dually
registered as Registered Representatives of FINRA-member securities broker/dealers, including BAM
affiliate Peak Brokerage. As such, these IARs may also receive commission-based compensation from
the broker/dealer for transactions conducted through their brokerage platforms. This commission-
based compensation is separate and distinct from advisory fees BAM charges and would be under an
agreement with that broker/dealer. Investment advisory services are provided to clients on a
discretionary and non-discretionary basis. BAM, however, does not act as the custodian of client
assets. At this time, custodians for BAM advisory client accounts include Charles Schwab &
Co.(“Schwab”), AssetMark and Raymond James Financial (“Raymond James”), as well as those
employed by various approved third-party managers. Schwab, AssetMark and Raymond James are
qualified custodians, as defined by the SEC, as well as unaffiliated SEC- registered broker/dealers.
Some client accounts may, at the discretion of the Firm, be held by other qualified custodians in the
pursuit of some clients’ objectives. Regardless of the custodial platform utilized, each client always
retains full control of their assets. They do, however, authorize BAM to transact trades on their behalf,
without prior consultation, by the discretion permission contained in their advisory agreement
executed with the Firm.
Asset management recommendations to clients may include direct brokerage of individual securities,
open- and closed-end mutual funds, exchange-traded funds (“ETFs”), REITs, fixed and/or variable
insurance products or other investment vehicles deemed by the Firm to be suitable. IARs of the Firm,
however, are prohibited from participating in initial public offerings (“IPOs”), private placements
or penny stock transactions without prior approval of the Firm’s Chief Compliance Officer. Clients are
permitted to place restrictions on the types of securities held in their portfolios.
The asset management programs offered by BAM are intended to comply with Rule 3a-4 under the
Investment Company Act of 1940. Each client’s account is managed on the basis of the client’s financial
situation and stated investment objectives and in accordance with any reasonable investment
restrictions imposed by the client on the management of the assets in their account. In addition,
clients will be contacted at least annually by their IAR to confirm whether there have been any
changes to the client’s financial situation, investment objectives or if the client would like to impose
or modify investment restrictions on the account.
In addition to services offered by the Firm, Blackridge’s advisory clients may also elect to utilize the
services of Plan Confidence, an unrelated independent registered investment advisory firm which may
provide qualified retirement plan allocation advice to our clients through an on-line venue. For clients
utilizing their services, our Firm acts only in the capacity of a co-advisor with Plan Confidence and will
execute Plan Confidence’s recommendations for clients on a non-discretionary basis. Plan Confidence
charges each client’s monthly fee for their service directly to a client’s established credit card account
and remits a portion of this charge to Blackridge. Clients hold the ability to engage or terminate their
relationship with Plan Confidence directly on-line at any time, without Blackridge’s involvement.
As of 12/31/23 the Firm’s total Assets under management for its advisory clients was approximately
$186,557,899 with approximately 853 clients’ accounts.
Conflicts of Interest
As fiduciaries, registered investment advisors have an obligation to disclose
to clients any conflicts of
interest, real or perceived, that might exist as a result of any activities they may engage in above and
beyond the service provided exclusively to their advisory clients. When multiple services are offered,
there isa potential conflict of interest since there is an incentive for the party offering financial planning
services to recommend products or services for which the advisor, or a related party, may receive
compensation. However, financial planning clients of BAM are under no obligation to act upon any
recommendations of the advisor or to affect any transactions through the advisor if they decide to
follow the recommendations.
BAM’s affiliate Peak Brokerage has a clearing relationship with Raymond James. Although BAM does
not receive any compensation related to its client assets due to this relationship, Peak Brokerage does.
Peak Brokerage is paid a revenue share from Raymond James on the interest sweep compensation it
earns on assets that are left in cash positions. Peak Brokerage may receive an interest rebate on cash
balances in accounts held at Raymond James. This interest rebate creates an incentive to leave cash
balances uninvested. Peak Brokerage receives a rebate on margin-interest charged to balances held
at Raymond James. This margin-interest rebate creates an incentive to recommend that you open a
margin account. Peak Brokerage receives compensation on transactions net of the costs charged by
Raymond James. This creates an incentive to trade in your account more frequently. Although BAM
IAR does not receive any of the benefits noted above from these arrangements, it does create a conflict
that may cause BAM to promote the custody of assets at Raymond James. Please ask your BAM
representative to detail all conflicts that influence how your account is managed.
IARs of BAM may be licensed at a state level as either insurance consultants or agents/brokers and
receive commission-based income from the sale of insurance-related products to clients. BAM,
however, does not share in any such commissions received. In addition, some IARs of the Firm may be
dually registered as Registered Representatives of FINRA-member securities broker/dealers and may
receive commission-based income from the placement of non-advisory account transactions through
those broker/dealers. BAM does not share in any such commissions received and, at this time, all
advisory account transactions are executed through the Firm’s custodial platforms.
Clients have the option to purchase insurance or investments recommended by BAM's IARs through
other brokers or agents who are not affiliated with BAM. Other areas of potential conflicts of interest
to BAM clients may be disclosed herein in areas specific to those potential conflicts.
Certain sub-advisors may be affiliated with Peak Brokerage Services, LLC (PBS). BAM is a wholly owned
subsidiary of Peak Reps, LLC. BAM may have a conflict of interest in including these sub-advisors
in the BAM TPM Program. If you select one of the strategies offered by such sub-advisors, BAM and
its affiliates receive greater aggregate compensation. Additionally, certain affiliates of sub- advisors
on the BAM platform, which are affiliated with PBS, may have a conflict of interest based on
ownership interest of funds used in their portfolio strategies. Additionally, the sub- advisor affiliate
may receive additional economic benefits in the way of either expense reimburse mentor fee sharing
arrangements. The funds may also reimburse the sub-advisor for marketing and distribution
expenditures related to the fund family. Clients are under no obligation to act upon any
recommendations of the affiliated Portfolio Manager or associated persons and may opt out of
including funds with potential conflicts of interests in their portfolio.
Sub-advisors may have other business relationships with BAM or its affiliates and may compensate
BAM or its affiliates. Similarly, BAM or its affiliates may receive compensation from other parties in
connection with services BAM provides in these relationships, such as trading, lending, prime
brokerage, and custody services. As a result of these relationships, BAM may have a conflict of interest
in determining which sub- advisors to include in their offerings. Clients are under no obligation to act
upon any recommendations of the affiliated Portfolio Manager or associated persons and may opt
out of including funds with potential conflicts of interests in their portfolio. BAM, PBS, or their affiliates
may, from time to time, enter into joint marketing activities with sub-advisors or service providers to
the BAM programs. These sub-advisors or service providers may pay for, or may reimburse BAM or its
affiliates for, all or a portion of the cost of the activities.
Some IARs of BAM may have ownership units and/or profits interests in the holding company, Peak
Reps LLC. A portion of the fees generated by IARs represent revenue to BAM, which may be directed
to Peak Reps, LLC to pay for expenses or increase the value of Peak Reps, LLC. Some of that revenue
may also be distributed through Peak Reps, LLC to those ownership units or profits interest holders as
well as through a profit-sharing program. The profit or revenue distributions through Peak Reps, LLC
would be considered additional compensation and a further conflict of interest.
Certain Providers sponsor BAM or its affiliates events and conferences. This creates a conflict as IARs
participate or benefit directly from sponsorships.
Principal Owners
As previously stated, BAM is wholly owned subsidiary of Peak Reps LLC, a privately held corporation.
Types of Advisory Services
Through its IARs, BAM provides personalized confidential financial planning, asset management and
related consulting services to individuals, high n e t worth individuals, pension and profit-
s h a r i n g plans, trusts, charitable organizations and small businesses. Recommendations to clients
are made based on consultations with the client and analysis of each client’s specific financial needs
and may include some or all of the following services:
Determination of financial objectives Cash flow management
Tax planning related to the execution Estate planning
of investment decisions
Insurance review Investment management
Education funding Retirement planning
Tailored Relationships
The goals and objectives for each client are documented in our client relationship management
system. Investment strategies are then created that reflect the stated goals and objectives of each
client. Clients may impose restrictions on investing in certain securities or types of securities. Any such
restrictions must be submitted to the Firm in writing at the time the client enters an advisory
relationship.
Types of Agreements
Prior to engaging IAR’s services, clients are required to sign either an investment management
agreement or a financial planning/consulting services agreement which defines the services that will
be provided by the Firm's investment advisor representatives ("IAR"). The agreements define the
typical client relationships between BAM, IAR and their clients and may not be assigned or transferred
to parties other than the original clients entering into the agreements. Since BAM does not maintain
custody of client assets, however, separate agreements may also need to be executed between
custodial firms and the client, in addition to the agreements of the Firm described above. Since
neither BAM nor its IARs act as attorneys or accountants, their recommendations under these
agreements should not be interpreted as legal or tax advice.
Retainer Agreements
An IAR may elect to charge a retainer to clients for financial planning, consulting and/or asset
management services. Should he/she do so, the retainer terms will be clearly stated in the agreement
signed by the client.
Termination of Agreements
Either BAM, IAR or the client may terminate the aforementioned agreements at any time by notifying
the other party in writing thirty (30) days prior to the desired termination date. The client will be billed
at the stated rate for the time spent on the advisory activities performed prior to notification of
termination. If the client made an advance or retainer payment, BAM would refund any unearned
portion of the advance payment.
In addition, BAM and/or its IAR reserves the right to terminate any advisory engagement where a
client has willfully concealed or has refused to provide pertinent information about financial situations
when necessary and appropriate, in IAR’s judgment, to providing proper financial advice. Any
unused portion of fees collected in advance will be refunded to the client.