North East Asset Management

CRD#116339
Investment Advisor Firm

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Overview

North East Asset Management operates as a financial advisory company that has its headquarters in Minneapolis, Minnesota. North East Asset Management manages $25.0 million in assets under management throughout 70 accounts. The firm has a small team of one employee who is a financial advisor. North East Asset Management is not a registered broker-dealer, meaning the company cannot buy and sell securities for its clients' and own accounts and instead has to go through a broker-dealer company to do so. Securities are defined as tradable fiscal assets such as options, equities and bonds.

North East Asset Management oversees zero of its accounts on a discretionary basis. Discretionary management signifies that buy and sell decisions are made by an investment advisor without requiring the client's permission. The company also administers 70 non-discretionary accounts with a total of $25.0 million in AUM. North East Asset Management's average account size is $357,143. $2,500,001 to $5,000,000 of their investments for financial planning services were in securities, with under $100,000 placed in non-securities. The typical financial advisor at North East Asset Management manages about 70 client accounts, placing it towards the middle in terms of personalization.

North East Asset Management's central office is located at 9298 Central Avenue Ne, Minneapolis, Minnesota 55434-4220. It is permitted to serve clients in the state of Minnesota.

Number of Advisors

1

Disclosures

No

Office Location

9298 Central Avenue Ne
Minneapolis, MN 55434-4220

North East Asset Management by the Numbers

Total Number of Employees

1

National Average: 4,943
Total Number of Accounts

70

National Average: 2,522
Average Account Size

$357.1 thousand

National Average: $1.3 million

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Products and Services

Financial services that North East Asset Management provides can include financial planning services and portfolio management for individuals and small businesses. In the last financial year, the company provided financial planning services to 26-50 of its clients. The company is not engaged in selling products or offering services other than investment advice to its investment advisory clients.

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 are based on which services are offered. However, fee types charged by the company can include the following fee types: hourly or other. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the company. North East Asset Management is able to withdraw its expenses directly from customer funds.

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 12% of firms

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

Unavailable

  • Find one of the 75% of firms that offer this fee type

    Percentage of Assets

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    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 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.

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Types of Clients

The company works with retail investors. Out of its 70 accounts, North East Asset Management's largest client is retail investors. None of the firm's customers are represented by people from outside of the U.S.

  • 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

North East Asset Management 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