# Breakwater Investment Management

> Breakwater Investment Management is an SEC-registered investment advisory firm in Seattle, WA, registered since 2014, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated April 15, 2026.

- CRD: 150841
- Filed as: BREAKWATER INVESTMENT MANAGEMENT
- Legal name: Breakwater Investment Management, LLC
- Also doing business as: BREAKWATER INVESTMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Seattle, WA
- Filing period: October 2026
- Form ADV filing dated: April 15, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/150841
- AdvisorCensus page: https://advisorcensus.com/firm/breakwater-investment-management-seattle-wa-150841

## Quick answers

**How is Breakwater Investment Management compensated?**
On its Form ADV (Item 5.E, October 2026), Breakwater Investment Management reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**How much does Breakwater Investment Management charge?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Up to $500,000: 1.25% a year; $500,001 to $1,000,000: 1% a year; $1,000,001 to $5,000,000: 0.85% a year; Above $5,000,000: see the brochure; Hourly rate: $350 an hour (planning services). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Breakwater Investment Management located?**
Breakwater Investment Management's principal office is in Seattle, WA, according to its Form ADV.

**Is Breakwater Investment Management registered with the SEC or a state?**
Breakwater Investment Management is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 150841.

**How much does Breakwater Investment Management manage?**
Breakwater Investment Management reports $302,726,806 in regulatory assets under management in its Form ADV filing dated April 15, 2026 (100% discretionary).

**How have Breakwater Investment Management's assets and staff changed since 2021?**
In the Form ADV data for Breakwater Investment Management: Regulatory assets under management: $221,389,698 in the October 2021 data and $302,726,806 in the October 2026 data, up 37%. Total employees: 3 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Breakwater Investment Management serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (96); high net worth individuals (56).

**Which custodians does Breakwater Investment Management use?**
Breakwater Investment Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Breakwater Investment Management report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/150841

**What changed in Breakwater Investment Management's recent Form ADV filings?**
In the May 2026 filing data: Employees performing advisory functions went from 1 to 2.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Up to $500,000: 1.25% a year
- $500,001 to $1,000,000: 1% a year
- $1,000,001 to $5,000,000: 0.85% a year
- Above $5,000,000: see the brochure

> Our standard fee schedule for Investment Advisory Services is as follows: • 1.25% on entire balance for assets up to $500,000; • 1.00% on entire balance for assets between $500,001 and $1,000,000; and • 0.85% on entire balance for assets between $1,000,001 and $5,000,000

- Minimum annual fee: $5,000

> For all new client relationships, we require a minimum annual fee of $5,000 to commence or continue an advisory relationship, though we may waive this requirement for certain clients at our discretion.

- Hourly rate: $350 an hour (planning services)

> For noninvestment advisory clients, fees for planning services are based on an hourly rate of $350.00 per hour or a flat fee of $2,500.00 to $20,000.00, based on the complexity of the engagement.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $302,726,806
- Discretionary: $302,726,806
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 96 | $49,760,717 |
| High net worth individuals | 56 | $252,411,555 |
| Charitable organizations | Fewer than 5 | $554,534 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Other

### Firm details
- Registered since: 2014 (12 years)
- Employees: 4 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, OR, VA, WA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- breakwater.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $221,389,698 | 3 | September 13, 2021 |
| October 2022 | $227,080,444 | 2 | August 5, 2022 |
| October 2023 | $206,372,198 | 3 | February 17, 2023 |
| October 2024 | $234,193,863 | 3 | July 11, 2024 |
| October 2025 | $250,791,556 | 3 | March 24, 2025 |
| October 2026 | $302,726,806 | 4 | April 15, 2026 |

Regulatory assets under management: $221,389,698 in the October 2021 data and $302,726,806 in the October 2026 data, up 37%.
Total employees: 3 in October 2021 and 4 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Employees performing advisory functions went from 1 to 2.

### April 2026
- Regulatory assets under management went from $250,791,556 to $302,726,806 (+21%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Breakwater Investment Management (CRD 150841): Form ADV filing data as of October 2026.