Bgm Wealth Partners

CRD#110483
Investment Advisor Firm

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Overview

Bgm Wealth Partners is a financial advisor company that has its headquarters in Minneapolis, Minnesota. The company administers $408.0 million in assets over 530 customer accounts, making it one of the bigger investment advisory firms in the nation by assets under management (AUM). It has a small group of six employees, of which four are financial advisors. Bgm Wealth Partners does not act as a registered broker-dealer, meaning the company is not able to buy and sell securities for its own accounts as well as its clients' and instead is required to go through a broker-dealer company to do so. Securities are exchangable financial investments such as bonds, options and equities.

Bgm Wealth Partners oversees the majority of the firm's accounts in a discretionary manner. Discretionary management signifies that buy and sell decisions for the client's account are made by a portfolio manager without needing to seek the customer's authorization. The firm also administers 11 non-discretionary accounts with a total of $5.5 million in AUM. Bgm Wealth Partners oversees an average of $769,748 for each customer account. The typical financial advisor at Bgm Wealth Partners administers around 133 client accounts.

The company's main office is at 4470 West 78Th St. Circle, Minneapolis, Minnesota 55435. It is permitted to serve clients throughout a few states, including Florida, Minnesota and Texas.

Number of Advisors

4

Disclosures

No

Office Location

4470 West 78Th St. Circle
Minneapolis, MN 55435

Bgm Wealth Partners by the Numbers

Total Number of Employees

6

National Average: 4,943
Total Number of Accounts

530

National Average: 2,522
Average Account Size

$769.7 thousand

National Average: $1.3 million

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Products and Services

Financial services that Bgm Wealth Partners offers include financial planning services and portfolio management for individuals and small businesses. In the prior financial year, the firm provided 101-250 of its accounts with financial planning services. Bgm Wealth Partners does not sell products or offer services apart from investment advice to its investment advisory customers. The firm is affiliated with a number of other service providers in the financial services industry, including with a trust company and accountant or accounting 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

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Fee Structure

Fees for financial management largely vary depending on which services the firm provides the client. Fee types charged by the company likely consist of the following fee types: asset-based, hourly or fixed. The company does not participate in a wrap fee program, in which the firm 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 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 caters to retail investors and high net worth investors. Out of its 530 clients, Bgm Wealth Partners's largest client is high net worth investors, though it also serves 88 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 in AUM 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 accounts are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 51.76%
  • Other Individuals - 48.24%
  • Corporations - 0%
  • 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

Bgm Wealth Partners does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Bgm Wealth Partners

Benjamin Potthoff
Minneapolis, MN

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This content was compiled from the SEC and FINRA