Bane O'Leary LLC

CRD#286450
Investment Advisor Firm

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Overview

Bane O'Leary LLC operates as an advisory company that has its headquarters in Minneapolis, Minnesota. Bane O'Leary LLC manages $82.1 million in total assets over 623 customer accounts. The company has a small team of five employees, all of whom are financial advisors. Bane O'Leary LLC is not a registered broker-dealer, signifying that the advisor is not able to buy and sell securities for its accounts and those of its clients and instead is required to go through a broker-dealer firm to do so. Securities are tradable fiscal investments like options, stocks and bonds.

Bane O'Leary LLC oversees all of its accounts on a discretionary basis. Discretionary management is a structure in which an investment advisor has the discretion to make transaction decisions for the client's account without needing the client's consent. Bane O'Leary LLC's typical account size is $131,779. Under $100,000 of its financial planning investments were in securities, with under $100,000 placed in non-securities. An average financial advisor at Bane O'Leary LLC manages about 125 client accounts.

The firm's headquarters is at 8000 Norman Center Drive, Minneapolis, Minnesota 55437. The company is permitted to serve clients across a few states, including Arizona, Colorado and Minnesota.

Number of Advisors

5

Disclosures

No

Office Location

8000 Norman Center Drive
Minneapolis, MN 55437

Bane O'Leary LLC by the Numbers

Total Number of Employees

5

National Average: 4,943
Total Number of Accounts

623

National Average: 2,522
Average Account Size

$131.8 thousand

National Average: $1.3 million

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Products and Services

Bane O'Leary LLC offers a number of financial services, including financial planning services, portfolio management for individuals and small businesses and educational seminars. However, the company did not provide financial planning services to any of its accounts in the previous fiscal year. It does not sell products or offer services apart from investment advice to its investment advisory accounts. Bane O'Leary LLC is affiliated with one or more other service providers in the financial services industry, including with an insurance company or agency.

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

  • Find a firm that offers this service

    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

Financial management fees usually depend on the financial services provided. Fees billed by the firm likely are comprised of any combination of the following fee structures: asset-based, hourly or fixed. The company does not provide a wrap fee program, in which the company offers a bundle of services for a single fee. The company can withdraw its expenses directly from client accounts.

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 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 3% 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 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

It works with retail investors, high net worth investors and other types of clients. Out of its 623 customers, Bane O'Leary LLC's largest client type by number of accounts is retail investors, though it also serves 17 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 at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's clients are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 7.14%
  • Other Individuals - 92.44%
  • Corporations - 0.42%
  • 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

Bane O'Leary LLC does not have any disclosures.

Please visit its Form ADV for more details.

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This content was compiled from the SEC and FINRA