The Wealth Group - Austin B. Colby & Associates

CRD#311385
Investment Advisor Firm

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Learn more about The Wealth Group - Austin B. Colby & Associates

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

    • Overview

    The Wealth Group - Austin B. Colby & Associates is located at 14850 Scenic Heights Road, Eden Prairie, MN. The firm employs 10 financial advisors to manage client portfolios and provide financial guidance. The Wealth Group - Austin B. Colby & Associates is not a registered broker-dealer.

    The Wealth Group - Austin B. Colby & Associates oversees $459.8 million in assets under management across 2,132 accounts, of which 2,102 are discretionary and 30 are non-discretionary. The services offered include financial planning services and portfolio management for individuals and small businesses. The firm caters to retail investors and high net worth investors, with retail investors being the largest client type by accounts. The fee structure at The Wealth Group - Austin B. Colby & Associates includes asset-based and fixed fees. The firm has 160 high net worth clients.

    The Wealth Group - Austin B. Colby & Associates is registered in the states of Colorado, Florida, Illinois, Louisiana, Minnesota, Tennessee, Texas, and Wisconsin.

    Assets Under Management

    $459.8 million

    Number of Advisors

    10

    Disclosures

    No

    Office Location

    14850 Scenic Heights Road
    Eden Prairie, MN 55344

    The Wealth Group - Austin B. Colby & Associates by the Numbers

    Total Assets Under Management

    $459.8 million

    National Average: $8.6 billion
    Total Number of Employees

    11

    National Average: 64
    Total Number of Accounts

    2,132

    National Average: 375,227
    Average Account Size

    $215.7 thousand

    National Average: $23.0 thousand
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    Products and Services

    Financial services offered by The Wealth Group - Austin B. Colby & Associates can include financial planning services and portfolio management for individuals and small businesses. However, The Wealth Group - Austin B. Colby & Associates did not provide financial planning services to any of its customers in the previous fiscal year. The Firm is involved in selling products or offering services different than investment advice to its clients.

    Core Advisor Services

    • Offered by 31% 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 46% 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 typically vary depending on the financial services provided. Fees billed by The Wealth Group - Austin B. Colby & Associates likely consist of some combination of the following fee structures: asset-based or fixed. The company participates in a wrap fee program, in which the firm offers a service bundle for a comprehensive fee.

    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.

    • Offered by 32% 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 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 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.

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    Types of Clients

    The firm caters to retail investors and high net worth investors. Out of its 2 clients, The Wealth Group - Austin B. Colby & Associates's biggest client type by number of accounts is high net worth investors, although it also manages money for 160 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 in AUM or a net worth of at least $1,50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 30.95%
    • Other Individuals - 69.05%
    • 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

    The Wealth Group - Austin B. Colby & Associates does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at The Wealth Group - Austin B. Colby & Associates

    Dean Goodwin
    Franklin, TN
    Jaron Kissner
    Eden Prairie, MN
    Michael Earl
    Eden Prairie, MN
    Daniel Johnson
    Eden Prairie, MN
    Jamy Antoine
    Eden Prairie, MN
    Benjamin Thorson
    Eden Prairie, MN
    Paige Heltemes
    Eden Prairie, MN
    Adam Colby
    Franklin, TN
    Paul Bennett
    Eden Prairie, MN

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