Wd Financial Services, LLC

CRD#122936
Investment Advisor Firm

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Overview

Wd Financial Services, LLC operates as a financial advisory company located in Minneapolis, Minnesota. The firm administers $60.2 million in assets under management across 320 client accounts. The firm has a small group of one employee who is a financial advisor. Wd Financial Services, LLC does not act as a registered broker-dealer, meaning the firm is not able to buy and sell securities for its own accounts as well as its customers' and instead must go through a broker-dealer firm to do so. Securities are tradable fiscal investments like options, bonds and equities.

Wd Financial Services, LLC oversees 289 of its client assets on a discretionary basis. Discretionary management signifies that an investment advisor makes buy and sell choices without needing the client's consent. It also has 31 non-discretionary accounts totaling $10.9 million in assets under management. The company's average account size is $188,031. Under $100,000 of their investments for financial planning services were in securities, with under $100,000 invested in non-securities. The typical financial advisor at Wd Financial Services, LLC oversees about 320 client accounts.

The company's central office is located at 7250 Metro Boulevard, Minneapolis, Minnesota 55439. The firm is registered to provide services to customers in the state of Minnesota.

Assets Under Management

$60.2 million

Number of Advisors

1

Fee Structure

Asset-based, Hourly

Disclosures

No

Office Location

7250 Metro Boulevard
Minneapolis, MN 55439

Wd Financial Services, LLC by the Numbers

Total Assets Under Management

$60.2 million

National Average: $3.3 billion
Total Number of Employees

1

National Average: 4,943
Total Number of Accounts

320

National Average: 2,522
Average Account Size

$188.0 thousand

National Average: $1.3 million

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Products and Services

Wd Financial Services, LLC provides multiple services, including financial planning services, portfolio management for individuals and small businesses and pension consulting services. In the past fiscal year, Wd Financial Services, LLC provided financial planning services to 11-25 of its customers. It does not sell products or offer services aside from investment advisory services to its investment advisory accounts. It is affiliated with a number of other companies in the financial services industry, 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.

  • 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 management fees depend on which service is provided. However, fees charged by the firm can consist of the following fee types: asset-based or hourly. The firm does not participate in a wrap fee program, in which the firm offers a bundle of services for a comprehensive fee. The firm is able to withdraw the expenses directly from customer funds.

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.

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.

  • 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 40% 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 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 company provides services to retail investors and high net worth investors. Out of its 320 accounts, Wd Financial Services, LLC's largest client type by number of accounts is retail investors, but it also manages money for 19 high-net-worth individuals. The SEC defines a high-net-worth individual as someone 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 accounts are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 14.73%
  • Other Individuals - 85.27%
  • 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

Wd Financial Services, LLC 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