Northland Asset Management

CRD#40258
Investment Advisor Firm

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Learn more about Northland Asset Management

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Northland Asset Management is an advisory firm headquartered in Minneapolis, Minnesota. The firm controls $97.5 million in assets over 526 accounts. The firm has a small team of 18 employees, all of whom are financial advisors. Northland Asset Management is not a registered broker-dealer, signifying that the company cannot buy and sell securities for its clients' and own accounts and instead is required to go through a broker-dealer company to do so. Securities are defined as tradable financial investments like equities, bonds and options.

    Northland Asset Management administers the majority of its accounts on a discretionary basis. Discretionary management is a structure in which a portfolio manager has the discretion to make transaction decisions for the client's account without requiring client permission. The firm also has 26 non-discretionary accounts with a total of $1.9 million in assets. Northland Asset Management's typical account size is $185,400. The typical advisor at Northland Asset Management oversees about 29 client accounts, making it about average in terms of personalization.

    Northland Asset Management's central office is located at 150 South 5Th Street, Minneapolis, Minnesota 55402. It is registered to provide services to clients across 13 U.S. states and territories.

    Assets Under Management

    $97.5 million

    Number of Advisors

    18

    Fee Structure

    Asset-based, Hourly, Fixed

    Disclosures

    Yes

    Office Location

    150 South 5Th Street
    Minneapolis, MN 55402

    Northland Asset Management by the Numbers

    Total Assets Under Management

    $97.5 million

    National Average: $3.3 billion
    Total Number of Employees

    18

    National Average: 4,943
    Total Number of Accounts

    526

    National Average: 2,522
    Average Account Size

    $185.4 thousand

    National Average: $1.3 million

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    Products and Services

    Northland Asset Management provides multiple financial services, which can include financial planning services, portfolio management for individuals and small businesses and selection of other advisers. In the last financial year, the company provided 1-10 of its customers with financial planning services. It is involved in selling products or offering services other than investment advisory services to its customers. The company is affiliated with one or more other companies in the financial services industry, including with a broker-dealer or securities dealer.

    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

    Financial management fees usually are based on which services are provided. Fee types billed by the company can be comprised of the following fee structures: asset-based, hourly or fixed. Northland Asset Management does participate in a wrap fee program, in which the company offers a service bundle 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 works with retail investors and high net worth investors. Out of its 526 customers, Northland Asset Management's biggest client type is high net worth investors, but it also serves 127 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 under management or a net worth of more than $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 customers are represented by non-U.S. persons.

    • High-Net-Worth Individuals* - 51.21%
    • Other Individuals - 48.79%
    • 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

    Northland Asset Management has disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Northland Asset Management

    Adam Connors
    Newport Beach, CA
    Carl Goltermann
    Newport Beach, CA
    Charles Turner
    Vero Beach, FL

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    This content was compiled from the SEC and FINRA