Blue Water Asset Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, and selecting other managers.
Blue Water Asset Management reports 940 clients. They include 794 individual clients, 122 high-net-worth individuals, and 15 corporations and other businesses. Of its assets, 100.0% ($428M across 1,855 accounts) are managed with discretion. It advised 21 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 84% | 39% |
| High-net-worth individuals | 13% | 58% |
| Charitable organizations | <1% | 1% |
| Insurance companies | <1% | <1% |
| Corporations and other businesses | 2% | 2% |
| Other client typesOther | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 794 | $166M | 38.8% | $209K |
| High-net-worth individuals | 122 | $246M | 57.5% | $2.02M |
| Charitable organizations | 6 | $4.97M | 1.2% | $829K |
| Insurance companies | Fewer than 5 | $219K | 0.1% | $110K |
| Corporations and other businesses | 15 | $8.32M | 1.9% | $554K |
| Other | Fewer than 5 | $2.29M | 0.5% | $2.29M |
| Total | 940 | $428M | 100% | — |
- Clients
- 794
- Regulatory AUM
- $166M
- AUM share
- 38.8%
- Avg. per client
- $209K
- Clients
- 122
- Regulatory AUM
- $246M
- AUM share
- 57.5%
- Avg. per client
- $2.02M
- Clients
- 6
- Regulatory AUM
- $4.97M
- AUM share
- 1.2%
- Avg. per client
- $829K
- Clients
- Fewer than 5
- Regulatory AUM
- $219K
- AUM share
- 0.1%
- Avg. per client
- $110K
- Clients
- 15
- Regulatory AUM
- $8.32M
- AUM share
- 1.9%
- Avg. per client
- $554K
- Clients
- Fewer than 5
- Regulatory AUM
- $2.29M
- AUM share
- 0.5%
- Avg. per client
- $2.29M
Total
- Clients
- 940
- Regulatory AUM
- $428M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 21
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Blue Water Asset Management charges up to 1.50% a year for its Wealth Management Services. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning and Consulting Services
- Fixed fees of $500 to $5,000 for financial planning, or hourly fees of $165 to $275 for planning and consulting; both are negotiable.
Mark Redfield owns 75% or more of Blue Water Asset Management. The leadership team of Blue Water Asset Management includes Chief Operating Officer Nicolle Rumsey and Chief Compliance Officer Andy Armstrong. It has 10 employees, 7 of them in advisory roles.
Staff
- 10 employees
- 7 in advisory functions
- 7 state-registered reps
- 2 broker-dealer reps
- 8 insurance agents
- Owns 75% or more of Blue Water Asset Management, LLC
Mark Redfield
Control person · since February 2015
Blue Water Asset Management’s regulatory assets grew 1.6× from $267M (February 2021) to $428M (June 2026); clients rose from 688 to 940 and employees from 9 to 10.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Jun 2026June 2026 | $428M | 940 | 10 | 3 |
| Jun 2025June 2025 | $387M | 879 | 12 | 4 |
| Mar 2024March 2024 | $335M | 668 | 11 | 4 |
| Mar 2023March 2023 | $297M | 675 | 8 | 4 |
| May 2022May 2022 | $319M | 758 | 8 | 4 |
| Feb 2021February 2021 | $267M | 688 | 9 | 4 |
Besides its headquarters, Blue Water Asset Management has 2 offices, with 3 listed addresses in 1 state.
Michigan · 3 listed addresses
- 4120 E. Beltline Ave., Suite 100, Grand RapidsHQ
- 41 Washington Ave, Grand Haven
- 431 S. Capitol Ave, Lansing
Other business names
Blue Water Asset Management has reported 3 other business names to the SEC.
- Capitol Income Consultants
- Jay Greer & Co.
- Redfield Financial Group
Contact and registration details
- Legal name
- Blue Water Asset Management, LLC
- Headquarters
- 4120 E. Beltline Ave., Suite 100, Grand Rapids, MI 49525
- Website
- bluewaterassetmanagement.com
- Phone
- 616-447-1600
- SEC file
- 801-81153
- Structure
- Michigan LLC
- Fiscal year end
- December
Blue Water Asset Management’s named custodian for separately managed accounts is Charles Schwab ($428M). Blue Water Asset Management has custody of $136M for 597 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $428M100%
At year end, Blue Water Asset Management’s separately managed accounts were mostly in stocks (68%) and funds (26%). Its reported 13F holdings for the quarter ended 30 June 2026 total $310M across 108 positions; the largest are Pgim ETF TR (10.6%), Invesco Exchange Traded FD T (7.2%) and J P Morgan Exchange Traded F (7.1%).
What the accounts hold
- Stocks68%
- Funds26%
- Cash2%
- Other4%
- Fixed income4%
How many clients does Blue Water Asset Management have?
Blue Water Asset Management has 940 clients and manages $428 million for them, as of June 2026. They include 794 individual clients, 122 high-net-worth individuals, and 15 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 3 June 2026
What services does Blue Water Asset Management offer?
Blue Water Asset Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Blue Water Asset Management charge?
Blue Water Asset Management charges up to 1.50% a year for its Wealth Management Services. The fee is billed in advance and is negotiable.
Source: BLUE WATER ASSET MANAGEMENT ADV BROCHURE, filed 17 March 2026
Which custodians does Blue Water Asset Management use?
Blue Water Asset Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $428M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 June 2026
How many financial advisors does Blue Water Asset Management have?
Blue Water Asset Management has 7 investment adviser representatives registered with state securities authorities, out of 10 employees, and 7 perform investment advisory functions. 2 employees are registered representatives of a broker-dealer and 8 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Blue Water Asset Management invest in?
At the end of its last fiscal year, Blue Water Asset Management’s separately managed accounts held 68% exchange-traded equities, 26% registered funds (mutual funds, ETFs, BDCs), 4% other and 2% cash and equivalents. The 4% other category is described as: Fixed Income.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Blue Water Asset Management?
Blue Water Asset Management’s direct owner is Mark Redfield (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 3 June 2026
How does Blue Water Asset Management get paid?
Blue Water Asset Management is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Blue Water Asset Management?
Blue Water Asset Management’s main office is at 4120 E. Beltline Ave., Suite 100, Grand Rapids, MI 49525. Its phone number is 616-447-1600. Its website is bluewaterassetmanagement.com.
