Essential Wealth

CRD#299913
Investment Advisor Firm

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Overview

Essential Wealth operates as a financial advisory company headquartered in Minneapolis, Minnesota. It has a small group of one employee who is a financial advisor. Essential Wealth is not a registered broker-dealer, signifying that the advisor cannot buy and sell securities for its customers' and own accounts and instead must go through a broker-dealer company to do so. Securities are tradable financial investments such as bonds, equities and options.

Under $100,000 of its financial planning investments were in securities, with under $100,000 invested in non-securities.

The company's headquarters is at 5201 Eden Ave. Suite 300, Minneapolis, Minnesota 55436. The company is legally registered to provide services to investors in the state of Minnesota.

Number of Advisors

1

Fee Structure

Hourly, Fixed

Disclosures

No

Office Location

5201 Eden Ave. Suite 300
Minneapolis, MN 55436

Essential Wealth by the Numbers

Total Number of Employees

1

National Average: 4,943

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Products and Services

Essential Wealth provides a variety of services, including financial planning services, portfolio management for individuals and small businesses and selection of other advisers. However, the firm did not provide financial planning services to any of its clients in the last fiscal year. The firm is engaged in selling products or offering services other than investment advice to its customers.

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.

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    Publication of Periodicals

    This is the publication of various financial education materials.

  • Find a firm that offers this service

    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 depend on which services the firm provides the client. Fees charged by the company most likely consist of the following fee structures: 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 has the ability to withdraw the expenses directly from client accounts.

Available

  • 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 75% of firms that offer this fee type

    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.

  • 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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Disclosures

Essential Wealth 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