OK well thats a new one for me. Is it calcified (feels hard and brittle)??? If it is calcified search around in the genus Jania and Amphiroa. If its not calcified maybe Ceramium. That's the best I can do without better cues (and keys).
Since it appears to grow up from a single holdfast its unlikely, IMO, to become a problem. Most 'problem' algae are creepers (Caulerpa), filamentous detritous trappers(Derbesia), or aggresive sexual speaders (Ventricaria). Algae like Sargassum which don't spread readily by fragmentation or sexual reproduction and grow up from a single holdfast are generally desirable nutrient controls, IME.