Founded in October 2012, the firm’s broader offering includes wealth management, family office services, “SteelPeak sports”, estate consulting, tax consulting, and insurance.
Within wealth management, clients work with a financial advisor to build a financial plan that prioritizes their goals.
Advisors follow a structured six-step process that covers determining goals, assessing current investments and risk tolerance, reviewing the financial plan and investment strategy, implementing the approach, and then monitoring, rebalancing, and reporting.
The plan can address multiple areas and may be delivered as a one-time session or an ongoing program with regular reviews and updates.
Based on their client's set goals and risk tolerance, SteelPeak manages portfolios on a discretionary or non-discretionary basis.
Client assets are primarily allocated among mutual funds (including certain closed-end interval funds), exchange-traded funds (ETFs), and independent investment managers, with privately placed and other alternative investments available to eligible clients.
What are the pros and cons of SteelPeak Wealth Management?
SteelPeak Wealth Management’s strengths lie in its processes and breadth of services, while its fee structure, conflicts of interest, and use of affiliated products add complexity that clients need to understand.
Here are some of the key advantages and drawbacks to get you started when deciding whether or not to work with the firm.
Pros of SteelPeak Wealth Management:
Advisor-led, goal-based process: Clients work directly with a dedicated financial advisor and choose from programs such as “SteelPeak Elite” and “SteelPeak Exclusive,” each of which follows the standard six-step process as outlined above.
Broad investment toolkit and program range: SteelPeak allocates portfolios across mutual funds (including interval funds), ETFs, independent managers, individual securities, structured products, and third-party alternative investments in certain programs. This gives advisors multiple ways to implement a strategy.
Integrated planning and consulting options: The firm offers modular and comprehensive financial planning, retirement plan consulting, and non-purpose loan consulting, with some plans including an online wealth portal that aggregates accounts and tracks progress toward goals.
Access to proprietary private funds for eligible clients: Qualified and accredited clients may be offered access to affiliated private funds such as SP Capital Opportunity I-A, SP Long-Short Equity Strategy, and SP Goal-Line Growth Fund, with discounted fund-level management fees for SteelPeak clients in certain cases.
Cons of SteelPeak Wealth Management:
Relatively complex, multi-layered fees: SteelPeak combines asset-based advisory fees, fixed planning and consulting fees, and a separate fee schedule for non-purpose loans, alongside product-level costs and fund expenses, which can make it harder for clients to see their total cost clearly.
Conflicts of interest and affiliated products: The firm and its affiliates can earn performance-based interest and referral or marketing fees on certain investments or products, which create incentives beyond standard advisory fees.
Illiquidity and valuation considerations for private investments: Affiliated private funds have multi-year terms and stated limits on liquidation, and many private investments are valued only periodically, which can affect both liquidity and fee calculations over time.
SteelPeak Wealth Management fees: How much does SteelPeak Wealth Management cost?
SteelPeak Wealth Management uses a traditional assets under management (AUM) fee of 0.75%-1.75% per year, plus negotiable fixed fees of about $500–$5,000 for stand-alone planning and consulting.
The firm does not disclose any minimum account size.
Here is a breakdown of the fees associated with SteelPeak Wealth Management.
Wealth management fee:
Annual advisory fee: 0.75%–1.75% of AUM.
Charged on managed assets: The fee is based on the market value of assets SteelPeak manages in the account.
Billed quarterly in advance: Calculated on the last day of the previous quarter and debited directly from the client’s custodial account (typically Schwab, Fidelity, or TradePMR).
Prorated for large flows: If more than $10,000 is added to or withdrawn from the account mid-period, the fee is adjusted to reflect the change in portfolio value.
Cash usually included: Cash balances are generally included in the fee base, although SteelPeak may exclude some money in some circumstances.
Financial planning and consulting fees:
Typical fee range: $500–$5,000 per engagement, depending on the scope and complexity of the work and the professional involved.
Billing structure: Usually 50% due at signing the advisory agreement and 50% due on delivery of the plan or completion of the agreed services.
Offset against advisory fees: If a client later or simultaneously engages SteelPeak for ongoing investment advisory services, the firm may offset some or all the planning/consulting fee against future advisory fees.
Other costs wealth management clients pay:
In addition to SteelPeak’s own fees, wealth management clients also incur standard third-party costs that are not paid to SteelPeak, including:
Brokerage commissions and transaction fees
Custodial and account fees
Fund-level expenses in mutual funds and ETFs (such as management fees and operating expenses)
Fees charged by independent managers, when used
Other account-level charges, such as margin interest, wire fees, and transfer taxes
These charges are separate from the advisory and planning fees and reduce net investment returns.
Who should choose SteelPeak Wealth Management?
SteelPeak Wealth Management appeals to clients with multiple planning needs, higher comfort with a multi-layered advisory offering, and, in some cases, interest in alternative or private investments.
Steel Peak Wealth Management works well for:
Investors who want advisor-led, goal-based planning: Clients work with a dedicated advisor to select a wealth management program and follow a six-step process that defines their goals and risk tolerance and continues through implementation, monitoring, and periodic review.
Households with multiple planning needs: SteelPeak provides comprehensive financial planning that covers retirement, investments, estate planning, and taxes, delivered as either a one-time or ongoing engagement.
Clients who prefer model or custom portfolios managed for them: SteelPeak Elite uses model portfolios managed by the firm’s Institute of Portfolio Management & Economic Strategy. At the same time, SteelPeak Exclusive builds custom model portfolios. Both programs are discretionary, allow reasonable client-imposed restrictions, and involve continuous monitoring and rebalancing.
Student and professional athletes seeking specialized support: SteelPeak Sports service is designed for athletes who want advisor-led wealth planning, investment management, tax and estate support, and insurance guidance tailored to their financial and career situations.
Eligible investors interested in alternatives and private funds: Qualified and accredited clients may be offered access to affiliated private funds or alternative-investment programs, subject to the risks and liquidity limits described in their offering documents.
Who might not benefit as much:
Active self-directed traders: The firm’s wealth management offering is built around advisor-managed portfolios and planning, so investors who want more control of day-to-day trades may find the structure less aligned with their preferences.
Investors looking for a low-cost robo-advisor: SteelPeak is not a robo-advisory firm. Its fees also reflect the human-led aspect of their offering. This may not align with investors' expectations for fully automated, low-fee digital advice.
Clients who prefer very simple fee structures and limited product menus: The platform has multiple fees. Investors who want a single-layer fee and minimal use of proprietary or alternative products may find this overall structure more complex than they prefer.
SteelPeak Wealth Management: Is it secure?
SteelPeak Wealth Management appears reasonably secure.
Client assets for wealth management are held at independent qualified custodians such as Charles Schwab, Fidelity, and TradePMR, rather than at SteelPeak itself.
SteelPeak is authorized to debit advisory fees, while the custodians provide regular account statements so clients can independently verify balances, transactions, and fee withdrawals.
The firm is an SEC-registered investment advisor and operates under fiduciary obligations. It maintains a written Code of Ethics that sets conduct standards for supervised persons, including rules around handling material non-public information and controls on personal trading, and it uses independent auditors in connection with custody for certain affiliated private funds.
From a privacy and data-protection standpoint, SteelPeak states that it uses security measures consistent with federal law, such as computer safeguards and secured files and buildings.
Additionally, the firm also notes that staff do not have access to clients’ login credentials for externally linked accounts.
SteelPeak Wealth Management: Customer service
SteelPeak Wealth Management’s customer service model is built around direct access to a dedicated advisor, supported by a network of physical offices, rather than app-based chat or a centralized call center.
Clients work with a dedicated advisor who serves as their main point of contact for portfolio questions, planning updates, and strategy changes. The firm indicates that ongoing advisory and planning relationships include at least annual reviews and check-ins as circumstances change.
In addition to advisor contact via phone and email, Steel Peak maintains multiple branch locations, allowing clients to schedule in-person meetings with local teams.
SteelPeak Wealth Management: Mobile app
The SteelPeak Wealth mobile app is designed as an extension of the firm’s client portal, providing existing clients with a consolidated view of their finances rather than serving as a self-directed trading tool.
In terms of limitations, the app is focused on viewing information and accessing documents, not on advanced charting or frequent trading features.
For SteelPeak Wealth Management clients who want to monitor accounts, review reports, and manage documents on the go, it functions as a practical companion to their advisor-led relationship.
Is Steel Peak Wealth Management worth it?
Whether Steel Peak Wealth Management is worth considering largely depends on the type of investor.
It is most aligned with people who want an ongoing, advisor-led relationship, structured planning, and portfolios, rather than a low-cost robo-advisor or DIY brokerage.
The service can be attractive to households with multiple planning needs, eligible clients interested in alternatives or private funds, and even to student or professional athletes who want wealth management integrated into their broader financial lives.
On the other hand, the advisory fee range of roughly 0.75%–1.75% of AUM, plus separate planning fees and underlying product costs, means it will not appeal to every fee-sensitive investor.
For investors who prioritize simple pricing, a pure robo experience, or full control over day-to-day trading, Steel Peak Wealth Management may be less suitable than more streamlined or self-directed options.
Get expert financial advice
If you need expert financial advice beyond a robo-advisor, Unbiased can match you with a financial advisor who will help you manage your money and maximize your investments.