Personal Wealth Partners LLC

CRD#172055
Investment Advisor Firm

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Overview

Personal Wealth Partners LLC is an advisory company located in Minneapolis, Minnesota. Personal Wealth Partners LLC manages $488.7 million in assets under management throughout 1,688 customer accounts, placing it among the bigger investment advisory firms in the nation by assets under management (AUM). The firm has a small group of 10 employees, all of whom are financial advisors. Personal Wealth Partners LLC is not a registered broker-dealer, signifying that it cannot buy and sell securities for its accounts and those of its clients and instead has to go through a broker-dealer firm to do so. Securities are defined as exchangable financial assets like bonds, options and stocks.

Personal Wealth Partners LLC oversees all of the firm's accounts in a discretionary manner. Discretionary management signifies that a portfolio manager makes transaction choices for the client's account without requiring the customer's permission. The firm administers an average of $289,496 in assets for every client account. The average advisor at Personal Wealth Partners LLC oversees about 169 client accounts.

Personal Wealth Partners LLC's main office is at 1550 American Boulevard East, Minneapolis, Minnesota 55425. The company is legally permitted to provide services to customers throughout 10 states, including California, Colorado, Florida, Iowa, Louisiana, Minnesota, New Hampshire, North Dakota, Texas and Wisconsin.

Number of Advisors

10

Disclosures

No

Office Location

1550 American Boulevard East
Minneapolis, MN 55425

Personal Wealth Partners LLC by the Numbers

Total Number of Employees

10

National Average: 4,943
Total Number of Accounts

1,688

National Average: 2,522
Average Account Size

$289.5 thousand

National Average: $1.3 million

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Products and Services

Personal Wealth Partners LLC provides a variety of services, which can include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services and selection of other advisers. In the prior financial year, the firm provided 251-500 of its clients with financial planning services. It does not sell products or offer services aside from investment advice to its investment advisory accounts. It also has a number of financial industry affiliations, including with an accountant or accounting firm.

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

Fees for financial advisory services depend on which services are offered. However, fees charged by the firm likely include some combination of the following fee structures: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by Personal Wealth Partners LLC.

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.

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    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

Personal Wealth Partners LLC caters to retail investors, high net worth investors and pension plans. Out of its 1,688 accounts, Personal Wealth Partners LLC's biggest client type by number of accounts is retail investors, but it also manages money for 156 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's clients are non-U.S. persons.

  • High-Net-Worth Individuals* - 20.13%
  • Other Individuals - 77.42%
  • Corporations - 2.45%
  • 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

Personal Wealth Partners LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Personal Wealth Partners LLC

Michael Poissant
Minneapolis, MN
Susan Isaacson
Minneapolis, MN

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This content was compiled from the SEC and FINRA