Phillip James Financial Co

CRD#168228
Investment Advisor Firm

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Overview

Phillip James Financial Co operates as a financial advisory firm that has its headquarters in Minneapolis, Minnesota. The firm administers $62.3 million in assets over 463 client accounts. The company has a small group of four employees, including two financial advisors. Phillip James Financial Co does not act as a registered broker-dealer, signifying that it cannot buy and sell securities for its accounts and those of its customers and instead has to go through a broker-dealer company to do so. Securities are defined as exchangable fiscal investments such as equities, options and bonds.

Phillip James Financial Co administers all of its accounts on a discretionary basis. Discretionary management is a structure in which a portfolio manager has the discretion to make transaction judgments without requiring client consent. The advisory firm's average account size is $134,648. The average advisor at Phillip James Financial Co administers around 232 client accounts.

Phillip James Financial Co's headquarters is located at 3675 Plymouth Boulevard, Minneapolis, Minnesota 55446. The firm is legally allowed to provide services to investors in the state of Minnesota.

Assets Under Management

$62.3 million

Number of Advisors

2

Fee Structure

Asset-based, Fixed

Disclosures

No

Office Location

3675 Plymouth Boulevard
Minneapolis, MN 55446

Phillip James Financial Co by the Numbers

Total Assets Under Management

$62.3 million

National Average: $3.3 billion
Total Number of Employees

4

National Average: 4,943
Total Number of Accounts

463

National Average: 2,522
Average Account Size

$134.6 thousand

National Average: $1.3 million

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Products and Services

Financial services that Phillip James Financial Co offers can include financial planning services and portfolio management for individuals and small businesses. In the past financial year, Phillip James Financial Co provided financial planning services to 51-100 of its clients. Phillip James Financial Co is involved in selling products or offering services apart from investment advisory services to its 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

Financial advisory fees usually vary depending on which services the firm provides the client. However, fee types charged by the firm likely consist of the following fee types: asset-based or fixed. The firm does not participate in a wrap fee program, in which the company offers a bundle of services for a single fee. It can 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 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 37% of firms that offer this fee type

    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.

  • 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

The firm works with retail investors and high net worth investors. Out of its 463 clients, Phillip James Financial Co's largest client group by number of accounts is retail investors, although it also caters to 17 high-net-worth individuals. The SEC defines a high-net-worth individual as someone who has at least $750,000 under management 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 accounts reside abroad.

  • High-Net-Worth Individuals* - 17.35%
  • Other Individuals - 82.65%
  • 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

Phillip James Financial Co 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