Split Rock Private Trading And Wealth Management LLC

CRD#152003
Investment Advisor Firm

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Learn more about Split Rock Private Trading And Wealth Management LLC

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

    • Overview

    Split Rock Private Trading And Wealth Management LLC operates as an advisory firm located in Cloquet, Minnesota. Split Rock Private Trading And Wealth Management LLC has $183.1 million in total assets across 1,617 customer accounts, placing it in the mid-tier of financial advisory firms in the United States by assets under management (AUM). The company has a small team, including 6 financial advisors. Split Rock Private Trading And Wealth Management LLC is not a registered broker-dealer, signifying that the company cannot buy and sell securities for its own accounts as well as its clients' and instead is required to go through a broker-dealer company to do so. Securities are tradable financial investments such as equities, bonds and options.

    Split Rock Private Trading And Wealth Management LLC oversees more than half of the firm's accounts in a discretionary manner. Discretionary management signifies that an investment advisor has the discretion to make transaction judgments without needing client permission. Split Rock Private Trading And Wealth Management LLC also manages 43 non-discretionary accounts with a total of $5.8 million in assets under management. Split Rock Private Trading And Wealth Management LLC's average account size is $113,218. An average advisor at Split Rock Private Trading And Wealth Management LLC oversees about 270 client accounts.

    Split Rock Private Trading And Wealth Management LLC's main office is at 105 Arch St, Cloquet, Minnesota 55720. The company is legally registered to serve investors throughout a number of states, including Minnesota, Texas and Wisconsin.

    Assets Under Management

    $183.1 million

    Number of Advisors

    6

    Disclosures

    No

    Office Location

    105 Arch St
    Cloquet, MN 55720

    Split Rock Private Trading And Wealth Management LLC by the Numbers

    Total Assets Under Management

    $183.1 million

    National Average: $8.6 billion
    Total Number of Employees

    7

    National Average: 64
    Total Number of Accounts

    1,617

    National Average: 375,227
    Average Account Size

    $113.2 thousand

    National Average: $23.0 thousand
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    Fee Structure

    Fees for financial management largely vary depending on which service is provided. However, fees charged by the company typically consist of the following fee structure: asset-based. Wrap fee programs, or the practice of bundling services for a single fee, are not provided by the firm.

    Available

    • Offered by 69% 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.

    Unavailable

    • Find one of the 21% 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 1% 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 26% 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 0% 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 32% 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.

    • Find one of the 10% 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.

    Back to Overview

    Types of Clients

    It caters to retail investors, high net worth investors, pension plans and charitable organizations. Out of its 1,617 customers, Split Rock Private Trading And Wealth Management LLC's largest client type by number of accounts is retail investors, though it also serves 21 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 in AUM or a net worth of more than $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 from outside of the U.S.

    • High-Net-Worth Individuals* - 2.53%
    • Other Individuals - 96.74%
    • Corporations - 0.36%
    • Charitable Organizations - 0.36%

    * 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

    Split Rock Private Trading And Wealth Management LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Split Rock Private Trading And Wealth Management LLC

    Mark Cool
    Cloquet, MN
    Tyler Kocon
    Cloquet, MN
    Jedd Anich
    Cloquet, MN
    Kelly Johnson
    Cloquet, MN
    Dale Anich
    Cloquet, MN
    Paul Munson
    Cloquet, MN

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