John P. Tapsak Financial Advisory

CRD#116128
Investment Advisor Firm

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Overview

John P. Tapsak Financial Advisory operates as a financial advisory company that has its headquarters in Minneapolis, Minnesota. The firm administers $4.0 million in assets over eight accounts. John P. Tapsak Financial Advisory has a small group of one employee who is a financial advisor. John P. Tapsak Financial Advisory is not a registered broker-dealer, meaning the company cannot buy and sell securities for its customers' and own accounts and instead is required to go through a broker-dealer firm to do so. Securities are defined as exchangable financial investments like stocks, bonds and options.

John P. Tapsak Financial Advisory manages zero of the company's client assets on a discretionary basis. Discretionary management is a structure in which transaction decisions are made by a portfolio manager without needing to seek the client's approval. John P. Tapsak Financial Advisory also manages eight non-discretionary accounts with a total of $4.0 million in assets under management. The advisory firm's typical account size is $500,000. Under $100,000 of its financial planning investments were in securities, with under $100,000 invested in non-securities. The average financial advisor at John P. Tapsak Financial Advisory administers around eight client accounts, making it one of the more personalized firms in the country.

The firm's main office is at 10019 Xerxes Avenue South, Minneapolis, Minnesota 55431. The company is legally allowed to serve investors in the state of Minnesota.

Number of Advisors

1

Disclosures

No

Office Location

10019 Xerxes Avenue South
Minneapolis, MN 55431

John P. Tapsak Financial Advisory by the Numbers

Total Number of Employees

1

National Average: 4,943
Total Number of Accounts

8

National Average: 2,522
Average Account Size

$500.0 thousand

National Average: $1.3 million

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Products and Services

Financial services provided by John P. Tapsak Financial Advisory include financial planning services and portfolio management for individuals and small businesses. In the past financial year, John P. Tapsak Financial Advisory provided financial planning services to 1-10 of its accounts. It is not involved in selling products or offering services aside from investment advice to its investment advisory 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

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Fee Structure

Fees for financial advisory services largely depend on which services are offered. However, fees charged by the firm may include the following fee structures: asset-based or hourly. The company does not provide a wrap fee program, in which the firm offers a bundle of services for a comprehensive fee. The firm has the ability to withdraw its expenses directly from customer 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.

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 40% of firms that offer this fee type

    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.

  • 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

The company provides services to retail investors. Out of its eight accounts, John P. Tapsak Financial Advisory's largest client is retail investors. None of the company's customers reside abroad.

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

John P. Tapsak Financial Advisory 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