Advisornet Wealth Partners

CRD#113074
Investment Advisor Firm

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Learn more about Advisornet Wealth Partners

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

    • Overview

    Advisornet Wealth Partners operates as a financial advisory company that has its headquarters in Hopkins, Minnesota. It administers $2.6 billion in total assets over 10,189 client accounts, making it one of the largest investment advisory firms in the nation by assets under management (AUM). The company has a large group, including 102 financial advisors. Advisornet Wealth Partners is not a registered broker-dealer, meaning the company cannot buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer company to do so. Securities are exchangable fiscal assets like options, stocks and bonds.

    Advisornet Wealth Partners manages 10,167 of its client assets in a discretionary manner. Discretionary management signifies that an investment advisor makes buy and sell choices for the client's account without requiring the client's consent. The firm also manages 22 non-discretionary accounts totaling $3.8 million in AUM. The advisory firm's average account size is $251,636. The average financial advisor at Advisornet Wealth Partners manages about 100 client accounts.

    The firm's headquarters is at 110 Cheshire Lane, Hopkins, Minnesota 55305. The firm is legally registered to provide services to clients across 42 U.S. states and territories.

    Assets Under Management

    $2.6 billion

    Number of Advisors

    102

    Disclosures

    No

    Office Location

    110 Cheshire Lane
    Hopkins, MN 55305

    Advisornet Wealth Partners by the Numbers

    Total Assets Under Management

    $2.6 billion

    National Average: $8.6 billion
    Total Number of Employees

    123

    National Average: 64
    Total Number of Accounts

    10,189

    National Average: 375,227
    Average Account Size

    $251.6 thousand

    National Average: $23.0 thousand
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    Products and Services

    Advisornet Wealth Partners provides a number of services, which can include 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 financial year, Advisornet Wealth Partners provided financial planning services to 251-500 of its clients. The firm does sell products or offer services different than investment advisory services to its clients. Advisornet Wealth Partners also has a number of financial industry affiliations, including with an accountant or accounting firm, lawyer or law firm 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

      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.

    • Offered by 6% 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 charged by financial advisors typically depend on which services the firm provides the client. However, fee types billed by the firm likely include some combination of the following fee structures: asset-based, hourly or fixed. The company does participate in a wrap fee program, in which the firm offers a service bundle for a single fee.

    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 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 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 firm caters to retail investors, high net worth investors, charitable organizations and corporations. Out of its 10,189 customers, Advisornet Wealth Partners's biggest client type by number of accounts is retail investors, although it also serves 804 high-net-worth individuals. A high-net-worth individual is defined by the SEC 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 accounts are represented by non-U.S. persons.

    • High-Net-Worth Individuals* - 19.23%
    • Other Individuals - 79.9%
    • Corporations - 0.67%
    • Charitable Organizations - 0.19%

    * 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 Partners does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Advisornet Wealth Partners

    Trever Christian
    Hopkins, MN
    Jeremy Lipinski
    Hopkins, MN
    Anders Haugen
    Saint Paul, MN
    John Schwalbach
    Saint Paul, MN
    Robert Bonine
    Hopkins, MN
    William Will
    Hopkins, MN
    John Judd
    Denver, CO
    Logan Taft
    Hopkins, MN
    Zachary Morgan
    Hopkins, MN

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