Acumen Financial Advisors, LLC

CRD#152748
Investment Advisor Firm

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Overview

Acumen Financial Advisors, LLC is an advisory company headquartered in Minneapolis, Minnesota. Acumen Financial Advisors, LLC controls $258.2 million in assets under management across 521 customer accounts, placing it in the mid-tier of financial advisory firms in the country by assets under management (AUM). It has a small group of seven employees, including two financial advisors. Acumen Financial Advisors, LLC does not act as a registered broker-dealer, signifying that the company cannot buy and sell securities for its clients' and own accounts and instead has to go through a broker-dealer company to do so. Securities are exchangable fiscal investments such as options, equities and bonds.

Acumen Financial Advisors, LLC manages zero of the firm's client assets in a discretionary manner. Discretionary management signifies that transaction decisions for the client's account are made by an investment advisor without needing to seek the customer's consent. The company also has 521 non-discretionary accounts with a total of $258.2 million in assets. Acumen Financial Advisors, LLC's average account size is $495,554. An average advisor at Acumen Financial Advisors, LLC administers about 261 client accounts.

Acumen Financial Advisors, LLC's central office is located at 8500 Normandale Lake Blvd., Minneapolis, Minnesota 55437-3813. The firm is legally allowed to provide services to clients throughout a few states, including Arizona, California, Colorado, Minnesota, Texas and Wisconsin.

Number of Advisors

2

Disclosures

No

Office Location

8500 Normandale Lake Blvd.
Minneapolis, MN 55437-3813

Acumen Financial Advisors, LLC by the Numbers

Total Number of Employees

7

National Average: 4,943
Total Number of Accounts

521

National Average: 2,522
Average Account Size

$495.6 thousand

National Average: $1.3 million

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Products and Services

Acumen Financial Advisors, LLC offers a number of services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients and pension consulting services. In the past fiscal year, it provided financial planning services to 101-250 of its accounts. The firm is not engaged in selling products or offering services apart from investment advisory services to its investment advisory accounts.

Core Advisor Services

  • Offered by 45% 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 63% 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

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Fee Structure

Fees for financial advice usually vary depending on which services the firm provides the client. However, fees billed by the firm can be comprised of any blend of the following fee types: asset-based, hourly, fixed or commission-based. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the company.

Available

  • Offered by 75% 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 37% 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 3% of firms

    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.

  • Offered by 40% 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 17% 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 1% 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 12% 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 firm provides services to retail investors, high net worth investors and pension plans. Out of its 521 clients, Acumen Financial Advisors, LLC's largest client by number of accounts is retail investors, although it also serves 86 high-net-worth individuals. The SEC defines a high-net-worth individual as an investor who has at least $750,000 under management 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). None of its accounts are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 44.33%
  • Other Individuals - 53.61%
  • Corporations - 2.06%
  • 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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Disclosures

Acumen Financial Advisors, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Acumen Financial Advisors, LLC

Todd Steger
Minneapolis, MN

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This content was compiled from the SEC and FINRA