Mg Financial LLC

CRD#107649
Investment Advisor Firm

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Learn more about Mg Financial LLC

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

    • Overview

    Mg Financial LLC is an advisory firm headquartered in Braintree, Massachusetts. The firm administers $1.1 billion in total assets across 115 customer accounts, placing it among the larger firms in the country by assets under management (AUM). It has a small group, including 4 financial advisors. Mg Financial LLC is not a registered broker-dealer, signifying that the firm is not able to buy and sell securities for its accounts and those of its customers and instead has to go through a broker-dealer firm to do so. Securities are defined as tradable fiscal assets such as options, equities and bonds.

    Mg Financial LLC administers all of the company's client assets on a discretionary basis. Discretionary management is a structure in which transaction decisions for the client's account are made by a portfolio manager without needing client authorization. The advisory firm's typical account size is $9.3 million. The typical financial advisor at Mg Financial LLC oversees around 29 client accounts, placing it towards the middle in terms of personalization.

    Mg Financial LLC's headquarters is located at 30 Braintree Hill Office Park, Braintree, Massachusetts 2184. Mg Financial LLC is allowed to serve investors in the state of Massachusetts.

    Assets Under Management

    $1.1 billion

    Number of Advisors

    4

    Disclosures

    No

    Office Location

    30 Braintree Hill Office Park
    Braintree, MA 02184

    Mg Financial LLC by the Numbers

    Total Assets Under Management

    $1.1 billion

    National Average: $8.6 billion
    Total Number of Employees

    7

    National Average: 64
    Total Number of Accounts

    115

    National Average: 375,227
    Average Account Size

    $9.3 million

    National Average: $23.0 thousand
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    Products and Services

    Mg Financial LLC provides multiple financial services, including financial planning services, portfolio management for pooled investment vehicles and selection of other advisers. In the prior financial year, Mg Financial LLC provided 101-250 of its customers with financial planning services. The company does not sell products or offer services apart from investment advisory services to its investment advisory clients.

    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.

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      Portfolio Management

      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.

    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.

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      Publication of Periodicals

      This is the publication of various financial education materials.

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      Educational Seminars/Workshops

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

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    Fee Structure

    Financial advisory fees typically vary depending on the services offered. However, fees billed by Mg Financial LLC likely include any blend of the following fee types: asset-based, hourly or other. Wrap fee programs, or the practice of bundling services for a single fee, are not provided by Mg Financial LLC.

    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 21% of firms

      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.

    • Offered by 10% of firms

      Other

      Show Explanation

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

    Unavailable

    • 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 32% of firms that offer this fee type

      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.

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    Types of Clients

    The firm provides services to retail investors, high net worth investors, pooled investment vehicles and charitable organizations. Out of its 115 accounts, Mg Financial LLC's biggest client type is high net worth investors, although it also manages money for 79 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's accounts reside abroad.

    • High-Net-Worth Individuals* - 68.7%
    • Other Individuals - 17.39%
    • Corporations - 13.04%
    • Charitable Organizations - 0.87%

    * 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

    Mg Financial LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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