ITEM 1: COVER PAGE
BROCHURE SUPPLEMENT (Part 2B of Form ADV) January 2024
Gregory Paul Kushner
Lido Advisors, LLC
Principal Business Address
1875 Century Park East, Suite 950
Los Angeles, California 90067
Phone: (310) 278-8232
Fax: (310) 278-8267
gkushner@lidoadvisors.com www.lidoadvisors.com
This brochure supplement provides information about Greg Kushner that supplements Lido Advisors, LLC’s (“Lido”) Disclosure Brochure (Form ADV Part 2A). You should have received a copy of that Disclosure Brochure. Please contact our Chief Compliance Officer at (310) 278-8232 if you did not receive Lido Advisors, LLC’s Disclosure Brochure or if you have any questions about the contents of this supplement.
Additional information about Gregory Kushner is available on the SEC’s website atadviserinfo.sec.gov.
ITEM 2: EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE
Gregory P. Kushner
Year of Birth: 1956
Educational Background
University of Southern California – Bachelor of Science in Business Administration, 1978
Los Angeles Valley College – Associate of Arts in Business Administration, 1975
Business Background
Lido Advisors, LLC, Founder & Chairman, Sr.Managing Director (2/2022 – Present)
Lido Consulting Group, LLC, Founder & Chairman (9/2021 – Present)
Kushner Holdings, Inc., Member (7/2015 – Present)
Lido Advisors Holdings, LLC, Member (7/2015 – Present)
Lido Advisors, LLC, Founder & Chief Executive Offier, Senior Managing Director, Wealth Advisor (5/2021 – 02/2022)
Oakhurst Advisors, LLC, Senior Managing Director (4/2016 – 12/2022)
Lido Advisors, LLC, Chairman and Chief Executive Officer (7/2015 – 5/2021)
Lido Advisors, LLC, President and Chief Compliance Officer (6/2015 – 7/2015)
Investment Security Corp., Registered Representative (3/2001 – 1/2021)
Lido Advisors, Inc., President and Chief Compliance Officer (5/1999 – 6/2015)
Lido Consulting, Inc., President (11/1995 – 9/2021)
Mr. Kushner founded Lido Advisors, Inc. in 1999, which evolved into Lido Advisors, LLC in 2015. Mr. Kushner began Lido after 22 years of providing personal and financial consulting services to high-net-worth individuals and family investment offices. In 1995, he founded Lido Consulting Group, LLC, the successor to Lido Consulting Inc., which provides resources to and consulting services for family offices. These services are non-investment related and include producing educational events and webinars on topics of interest to the family office industry. Additionally, Lido Consulting provides other services including review of technology, executive compensation, or executive recruiting among others for ultra-high-networth individuals and families. Mr. Kushner has expertise in the areas of financial planning, money management and income tax and estate planning. He is a licensed Certified Public Accountant (inactive) and holds the Series 65 license.
ITEM 3: DISCIPLINARY INFORMATION
Lido is required to disclose all material facts regarding any legal or disciplinary event that would be material to your evaluation of each investment person providing advice to you. Mr. Kushner has no information required to be disclosed under this Item.
ITEM 4: OTHER BUSINESS ACTIVITIES
Mr. Kushner is the founder and Chairman of Lido Consulting Group, LLC, the successor to Lido Consulting Inc., a personal services consulting firm specializing in providing consulting and other services to family offices and high net worth individuals. Lido Consulting Group, LLC is wholly owned by Lido Advisors, LLC. Notably, Lido Consulting Group, LLC generates revenues from seminar and conference planning, consulting, and executive recruiting activities. Mr. Kushner’s workday is divided among his activities for Lido and Lido Consulting Group, LLC. Mr. Kushner also serves as the Managing Member for the following limited liability companies (“LLCs”) that invest in commercial and residential real estate:
- Wildwood Apartments, LLC
- Shangri-La Apartments, LLC
- 616 N. La Brea, LLC
- 1045 4th Avenue, LLC
- 1671 Fremont, LLC, a wholly-owned subsidiary of 1045 4th Avenue, LLC
- Lido Flamingo, LLC
The members of these limited liability companies are family members and close friends, and the main purpose of each LLC is to engage in passive real estate investing. Also, Lido Flamingo, LLC invests in certain private funds that are also invested in by Lido clients. The fact that Mr. Kushner is a Managing Member of LLCs that invest in certain private funds that are invested in by Lido clients creates a conflict of interest due to the private funds being limited offerings. Lido addresses the conflict through its written Code of Ethics that includes preapproval and reporting requirements of certain personal securities transactions, including private funds by Lido employees, and through disclosures to clients. In addition, clients are not obligated to implement recommended transactions in private funds or other private limited partnerships.
While Mr. Kushner serves as the Managing Member for the LLCs, he is not involved in the day-to-day management of the various properties and/or other investments made by the LLCs. Mr. Kushner also serves as trustee to two family-related trusts and as CFO to a family foundation, and all three entities are clients of Lido. Additionally, Mr. Kushner serves as CFO and is a shareholder of a California corporation, Kushdon Management Inc., that performs real estate management services. This company provides management services to some of the real estate invested in by the family LLCs.
Mr. Kushner sits on the Board of Directors for the C5 Youth Foundation of Southern California as well as the Board of Governors for City of Hope.
Mr. Kushner spends less than 10% of his work time performing his duties as Managing Member, trustee, and/or CFO for all of these entities.
ITEM 5: ADDITIONAL COMPENSATION
In addition to the compensation received from Lido, Mr. Kushner, as a Member (through his wholly owned company, Kushner Holdings, Inc.) and part owner of Lido Group Holdings, LLC, shares in the profits and losses of LAH. The compensation Mr. Kushner receives for performing his roles as Managing Member, Trustee and CFO for the family-related entities and LLCs described in Item 4 accounts for less than 10% of his income.
ITEM 6: SUPERVISION
Generally, all client investment decisions are overseen by Jeff Garden, Chief Investment Officer and head of Lido’s Investment Committee. The Investment Committee meets periodically to discuss overall portfolio management decisions and strategies. In addition, Jason Ozur, Chief Executive Officer of Lido, is responsible for the general oversight of all investment advice given by its supervised persons.
Mr. Gregory Kushner’s investment advice and employee activities are supervised by Mr. Ozur, who can be contacted at (310) 278-8232 orjozur@lidoadvisors.com.
