Northland Asset Management

CRD#40258
Investment Advisor Firm

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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.

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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

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.

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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.

  • 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