Stevens Foster Financial Advisors

CRD#115752
Investment Advisor Firm

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Overview

Stevens Foster Financial Advisors is an advisory company headquartered in Minneapolis, Minnesota. The firm administers $489.7 million in assets under management over 982 client accounts, making it one of the larger firms in the United States by assets under management (AUM). It has a small team of 25 employees, eight of whom are financial advisors. Stevens Foster Financial Advisors does not act as a registered broker-dealer, signifying that it cannot buy and sell securities for its clients' and own accounts and instead must go through a broker-dealer company to do so. Securities are defined as tradable financial investments like options, equities and bonds.

Stevens Foster Financial Advisors manages 627 of the firm's client assets in a discretionary manner. Discretionary management means that buy and sell judgments are made by an investment advisor without needing to seek client authorization. It also has 355 non-discretionary accounts totaling $122.5 million in AUM. Stevens Foster Financial Advisors oversees roughly $498,635 in assets for each account. The average advisor at Stevens Foster Financial Advisors administers around 123 client accounts.

The company's central office is located at 7901 Xerxes Avenue South, Minneapolis, Minnesota 55431. It is legally allowed to provide services to customers across 7 states, including Arizona, California, Colorado, Florida, Minnesota, Texas and Wisconsin.

Assets Under Management

$489.7 million

Number of Advisors

8

Fee Structure

Asset-based, Hourly, Fixed, Commission-based

Disclosures

No

Office Location

7901 Xerxes Avenue South
Minneapolis, MN 55431

Stevens Foster Financial Advisors by the Numbers

Total Assets Under Management

$489.7 million

National Average: $3.3 billion
Total Number of Employees

25

National Average: 4,943
Total Number of Accounts

982

National Average: 2,522
Average Account Size

$498.6 thousand

National Average: $1.3 million

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Products and Services

Financial services that Stevens Foster Financial Advisors offers can include financial planning services and portfolio management for individuals and small businesses. In the prior financial year, the company provided financial planning services to 251-500 of its clients. The firm does not sell products or offer services apart from investment advisory services to its investment advisory accounts.

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

Fees charged by financial advisors largely depend on which services the firm provides the client. Fees charged by the company can include any blend of the following fee types: asset-based, hourly, fixed or commission-based. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.

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 3% of firms

    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.

  • 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 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 caters to retail investors and high net worth investors. Out of its 982 clients, Stevens Foster Financial Advisors's biggest client group by number of accounts is retail investors, although it also serves 162 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 considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's accounts are from outside of the U.S.

  • High-Net-Worth Individuals* - 43.09%
  • Other Individuals - 56.91%
  • 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

Stevens Foster Financial Advisors 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