Dakota Wealth, LLC

CRD#297987
Investment Advisor Firm

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Learn more about Dakota Wealth, LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Dakota Wealth, LLC is located at 11376 N. Jog Road, Palm Beach Gardens, FL. The firm employs 54 financial advisors to manage client portfolios and provide financial guidance. Dakota Wealth, LLC is not a registered broker-dealer.

    Dakota Wealth, LLC oversees $5.3 billion in assets under management across 9,720 accounts, of which 9,718 are discretionary and 2 are non-discretionary. Over the past year, the firm has provided financial planning services to between 11 and 25 clients. The services offered include financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, pension consulting services, selection of other advisers, and other services. The firm caters to retail investors, high net worth investors, investment companies, pooled investment vehicles, charitable organizations, and corporations, with retail investors being the largest client type by accounts. The fee structure at Dakota Wealth, LLC includes asset-based and fixed fees. The firm has 1,092 high net worth clients and maintains affiliations with an accountant or accounting firm and a lawyer or law firm.

    Dakota Wealth, LLC is registered in the states of Arizona, California, Colorado, Connecticut, District of Columbia, Florida, Georgia, Illinois, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, Virginia, Washington, and Wisconsin.

    Assets Under Management

    $5.3 billion

    Number of Advisors

    54

    Disclosures

    No

    Office Location

    11376 N. Jog Road
    Palm Beach Gardens, FL 33418-1752

    Dakota Wealth, LLC by the Numbers

    Total Assets Under Management

    $5.3 billion

    National Average: $8.6 billion
    Total Number of Employees

    84

    National Average: 64
    Total Number of Accounts

    9,720

    National Average: 375,227
    Average Account Size

    $548.8 thousand

    National Average: $23.0 thousand
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    Products and Services

    Dakota Wealth, LLC provides a number of financial services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, pension consulting services, selection of other advisers, and other services. In the prior financial year, Dakota Wealth, LLC provided financial planning services to 45621 of its clients. The Firm is not involved in selling products or offering services other than investment advisory services to its investment advisory accounts.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fees charged by financial advisors typically are based on the type of financial services offered. Fees charged by Dakota Wealth, LLC likely include some combination of the following fee structures: asset-based or fixed.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    The company does business with a broad range of investors. The firm provides services to retail investors, high net worth investors, investment companies, pooled investment vehicles, charitable organizations, and corporations. Out of its 6 clients, Dakota Wealth, LLC's biggest client type by number of accounts is high net worth investors, though it also manages money for 1092 high-net-worth individuals. The SEC defines a high-net-worth individual as someone who has at least $750,000 under management or a net worth of at least $1,50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 35.78%
    • Other Individuals - 63.47%
    • Corporations - 0.33%
    • Charitable Organizations - 0.43%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Dakota Wealth, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Dakota Wealth, LLC

    Maribeth Rector
    Palm Beach Gardens, FL
    Timothy Dick
    Palm Beach Gardens, FL
    Joshua Crossman
    Palm Beach Gardens, FL
    Peter Augustin
    Akron, OH
    Jeffrey Goyette
    Palm Beach Gardens, FL
    Madison Strahan
    Akron, OH
    Robin Schaa
    Sartell, MN
    Rhys Williams
    Palm Beach Gardens, FL
    Brett Orvieto
    Palm Beach Gardens, FL

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    The content in this profile was updated by SmartAsset on 6/19/2024. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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