Wealth Enhancement Advisory Services, LLC
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Learn more about Wealth Enhancement Advisory Services, LLC
Wealth Enhancement Advisory Services, LLC operates as an advisory company that has its headquarters in Minneapolis, Minnesota. The company administers $56.4 billion in assets under management across 128,050 client accounts, making it one of the largest firms in the country by assets under management (AUM). Wealth Enhancement Advisory Services, LLC does not act as a registered broker-dealer, signifying that it is not able to buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer firm to do so. Securities are tradable fiscal assets like bonds, equities and options.
Wealth Enhancement Advisory Services, LLC oversees 120,745 of the company's client assets in a discretionary manner. Discretionary management signifies that transaction choices are made by an investment advisor without requiring the customer's authorization. The firm also manages 7,305 non-discretionary accounts totaling $6.3 billion in assets. The investment advisory firm's typical account size is $440,396.
The company's central office is at 505 North Hwy 169, Minneapolis, Minnesota 55441. It is legally permitted to serve investors across 51 U.S. states and territories.
Assets Under Management
Wealth Enhancement Advisory Services, LLC by the Numbers
Products and Services
Wealth Enhancement Advisory Services, LLC provides a number of services, which can consist of financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers, educational seminars and other services. In the prior fiscal year, the company provided 4000 of its clients with financial planning services. Wealth Enhancement Advisory Services, LLC does not sell products or offer services apart from investment advisory services to its investment advisory accounts. The firm is affiliated with a number of other service providers in the financial services industry, including with a broker-dealer or securities dealer, trust company and insurance company or agency.
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
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
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Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
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.
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Publication of Periodicals
This is the publication of various financial education materials.
Offered by 6% of firms
This is the hosting of seminars or workshops to educate investors on financial concepts.
Financial advisory fees largely depend on the financial services provided. However, fee types billed by the firm can include any blend of the following fee types: asset-based, hourly, fixed or other. The firm does participate in a wrap fee program, in which the company offers a service bundle for a single fee.
Offered by 69% of firms
Percentage of AssetsShow 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 21% of firms
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.
Offered by 32% of firms
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.
Offered by 10% of firms
Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.
Find one of the 1% of firms that offer this fee type
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
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
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.
Types of Clients
It caters to retail investors, high net worth investors, pension plans and corporations. Out of its 128,050 customers, Wealth Enhancement Advisory Services, LLC's largest client by number of accounts is retail investors, although it also serves 13,066 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of the firm's customers are represented by non-U.S. persons.
- High-Net-Worth Individuals* - 26.72%
- Other Individuals - 71.31%
- Corporations - 1.97%
- Charitable Organizations - 0%
* 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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Wealth Enhancement Advisory Services, LLC does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Wealth Enhancement Advisory Services, LLC
Green Bay, WI
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