Mgo One Seven

CRD#283087
Investment Advisor Firm

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Overview

Mgo One Seven is an advisory firm that has its headquarters in Beachwood, Ohio. The firm handles $2.4 billion in assets under management over 10,151 customer accounts, placing it among the biggest investment advisory firms in the country by assets under management (AUM). It has an average-sized group, including 45 financial advisors. Mgo One Seven is not a registered broker-dealer, meaning the advisor cannot buy and sell securities for its accounts and those of its customers and instead must go through a broker-dealer company to do so. Securities are defined as exchangable financial investments like stocks, options and bonds.

Mgo One Seven oversees most of its accounts on a discretionary basis. Discretionary management is a structure in which buy and sell choices are made by an investment advisor without requiring client consent. The firm also manages 338 non-discretionary accounts with a total of $416.6 million in AUM. The firm oversees an average of $239,369 for each account. An average financial advisor at Mgo One Seven manages around 226 client accounts.

The firm's central office is located at 24400 Chagrin Blvd., Beachwood, Ohio 44122. It is allowed to provide services to clients throughout 31 U.S. states and territories.

Assets Under Management

$2.4 billion

Number of Advisors

45

Disclosures

No

Office Location

24400 Chagrin Blvd.
Beachwood, OH 44122

Mgo One Seven by the Numbers

Total Assets Under Management

$2.4 billion

National Average: $8.6 billion
Total Number of Employees

86

National Average: 64
Total Number of Accounts

10,151

National Average: 375,227
Average Account Size

$239.4 thousand

National Average: $23.0 thousand
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Products and Services

Mgo One Seven offers a variety of services, including financial planning services, portfolio management for individuals and small businesses, pension consulting services, selection of other advisers and educational seminars. In the last financial year, it provided financial planning services to 251-500 of its clients. It does not sell products or offer services apart from investment advisory services to its investment advisory accounts. The company is also affiliated with one or more other companies in the financial services industry, including with a broker-dealer or securities dealer, insurance company or agency and pension consultant.

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

  • Offered by 20% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 6% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

A financial advisor's fees typically are based on the services provided. However, fee types billed by the firm likely consist of some blend of the following fee structures: asset-based, hourly, fixed or other. The firm does participate in a wrap fee program, in which the company offers a bundle of services 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 21% 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 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.

  • Offered by 10% of firms

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

Unavailable

  • 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.

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Types of Clients

The firm does business with a number of different clients. The company caters to retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 10,151 accounts, Mgo One Seven's biggest client is retail investors, although it also manages money for 473 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 counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of the company's clients are represented by people from outside of the U.S.

  • High-Net-Worth Individuals* - 16.29%
  • Other Individuals - 74.51%
  • Corporations - 9.16%
  • Charitable Organizations - 0.03%

* 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

Mgo One Seven does not have any disclosures.

Please visit its Form ADV for more details.

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