Devenir Investment Advisors, LLC

CRD#132824
Investment Advisor Firm

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Overview

Devenir Investment Advisors, LLC is a financial advisory company based in Minneapolis, Minnesota. The firm manages $4.2 billion in total assets across 40 customer accounts, making it one of the biggest financial advisory firms in the country by assets under management (AUM). The firm has a small group of 10 employees, including five financial advisors. Devenir Investment Advisors, LLC is not a registered broker-dealer, meaning it is not able to buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer firm to do so. Securities are exchangable financial investments like bonds, options and equities.

Devenir Investment Advisors, LLC oversees zero of the company's accounts in a discretionary manner. Discretionary management means that an investment advisor makes transaction choices without needing the client's permission. The firm also oversees 40 non-discretionary accounts totaling $4.2 billion in AUM. The firm's average account size is $105.0 million. An average advisor at Devenir Investment Advisors, LLC manages around eight client accounts, making it one of the more personalized advisor firms in the country.

Devenir Investment Advisors, LLC's headquarters is located at 8500 Normandale Lake Blvd, Minneapolis, Minnesota 55437. The firm is allowed to serve investors in the state of Minnesota.

Assets Under Management

$4.2 billion

Number of Advisors

5

Fee Structure

Asset-based, Hourly, Fixed

Disclosures

No

Office Location

8500 Normandale Lake Blvd
Minneapolis, MN 55437

Devenir Investment Advisors, LLC by the Numbers

Total Assets Under Management

$4.2 billion

National Average: $3.3 billion
Total Number of Employees

10

National Average: 4,943
Total Number of Accounts

40

National Average: 2,522
Average Account Size

$105.0 million

National Average: $1.3 million

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Products and Services

Financial services provided by Devenir Investment Advisors, LLC can include portfolio management for institutional clients and selection of other advisers. However, it did not provide any of its clients with financial planning services in the prior fiscal year. The company does not sell products or offer services aside from investment advisory services to its investment advisory accounts. Devenir Investment Advisors, LLC is also affiliated with a number of other service providers in the financial services industry, including with a broker-dealer or securities dealer.

Core Advisor Services

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    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.

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    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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    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.

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    Publication of Periodicals

    This is the publication of various financial education materials.

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    Educational Seminars/Workshops

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

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Fee Structure

A financial advisor's fees largely are based on which services the firm provides the client. However, fees charged by the firm can include any combination of the following fee structures: asset-based, hourly or fixed. The firm does not participate in a wrap fee program, in which the company offers a bundle of services for a single 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

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    Commissions

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    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.

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    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.

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    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.

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    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 banking institutions and insurance companies. Out of its 40 accounts, Devenir Investment Advisors, LLC's biggest client is banking institutions. None of the firm's clients reside abroad.

  • High-Net-Worth Individuals* - 0%
  • Other Individuals - 0%
  • Corporations - 100%
  • 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

Devenir Investment Advisors, 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