Advisornet Wealth Management

CRD#113074
Investment Advisor Firm

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Overview

Advisornet Wealth Management is a financial advisory company headquartered in Minneapolis, Minnesota. The firm manages $2.0 billion in total assets throughout 11,216 accounts, placing it among the largest investment advisory firms in the United States by assets under management (AUM). The company has a large group of 135 employees, one hundred twenty of whom are financial advisors. Advisornet Wealth Management is not a registered broker-dealer, meaning the company is not able to buy and sell securities for its own accounts as well as its customers' and instead is required to go through a broker-dealer firm to do so. Securities are tradable fiscal investments such as stocks, options and bonds.

Advisornet Wealth Management manages more than half of its client assets on a discretionary basis. Discretionary management signifies that an investment advisor makes transaction decisions for the client's account without requiring the client's permission. Advisornet Wealth Management also manages 78 non-discretionary accounts totaling $21.5 million in AUM. The advisory firm's average account size is $176,889. An average advisor at Advisornet Wealth Management oversees around 93 client accounts.

Advisornet Wealth Management's central office is located at 701 Fourth Avenue South, Minneapolis, Minnesota 55415. The company is allowed to serve clients throughout 21 U.S. states and territories.

Assets Under Management

$2.0 billion

Number of Advisors

120

Fee Structure

Asset-based, Hourly, Fixed, Commission-based

Disclosures

Yes

Office Location

701 Fourth Avenue South
Minneapolis, MN 55415

Advisornet Wealth Management by the Numbers

Total Assets Under Management

$2.0 billion

National Average: $3.3 billion
Total Number of Employees

135

National Average: 4,943
Total Number of Accounts

11,216

National Average: 2,522
Average Account Size

$176.9 thousand

National Average: $1.3 million

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Products and Services

Advisornet Wealth Management provides a number of financial 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 last fiscal year, Advisornet Wealth Management provided financial planning services to 500 of its clients. It is engaged in selling products or offering services other than investment advisory services to its clients. Advisornet Wealth Management is affiliated with one or more other service providers in the financial services industry, including with an accountant or accounting firm and lawyer or law firm.

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

  • Offered by 23% 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.

  • Offered by 10% of firms

    Educational Seminars/Workshops

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

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Fee Structure

Fees for financial management typically are based on the services provided. Fees charged by the company likely consist of some combination of the following fee structures: asset-based, hourly, fixed or commission-based. The company does participate in a wrap fee program, in which the company offers a bundle of services for a comprehensive fee.

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 caters to retail investors, high net worth investors and charitable organizations. Out of its 11,216 clients, Advisornet Wealth Management's biggest client is retail investors, though it also serves 25 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 more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its clients are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 0.6%
  • Other Individuals - 99.19%
  • Corporations - 0%
  • Charitable Organizations - 0.22%

* 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

Advisornet Wealth Management has disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Advisornet Wealth Management

Matthew Gulbransen
Saint Paul, MN

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This content was compiled from the SEC and FINRA