Trunorth Financial Services, Inc

CRD#111308
Investment Advisor Firm

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Learn more about Trunorth Financial Services, Inc

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

    • Overview

    Trunorth Financial Services, Inc is a financial advisory firm based in Chambersburg, Pennsylvania. The firm controls $180.0 million in assets over 894 accounts, making it a mid-tier firm in the nation by assets under management (AUM). The company has a small group, including 3 financial advisors. Trunorth Financial Services, Inc does not act as a registered broker-dealer, meaning the firm cannot buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer company to do so. Securities are defined as tradable financial assets such as bonds, options and equities.

    Trunorth Financial Services, Inc manages all of the firm's client assets in a discretionary manner. Discretionary management is a structure in which transaction decisions for the client's account are made by an investment advisor without needing to seek the customer's authorization. The advisory firm's average account size is $201,348. The typical advisor at Trunorth Financial Services, Inc oversees around 298 client accounts.

    The company's headquarters is at 425 Phoenix Drive, Chambersburg, Pennsylvania 17201. The company is registered to serve clients throughout a number of states, including Colorado, Maryland, North Carolina, Pennsylvania, South Carolina and Texas.

    Assets Under Management

    $180.0 million

    Number of Advisors

    3

    Disclosures

    No

    Office Location

    425 Phoenix Drive
    Chambersburg, PA 17201

    Trunorth Financial Services, Inc by the Numbers

    Total Assets Under Management

    $180.0 million

    National Average: $8.6 billion
    Total Number of Employees

    6

    National Average: 64
    Total Number of Accounts

    894

    National Average: 375,227
    Average Account Size

    $201.3 thousand

    National Average: $23.0 thousand
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    Products and Services

    Trunorth Financial Services, Inc offers a number of services, which can consist of financial planning services, portfolio management for individuals and small businesses, publication of newsletters and educational seminars. In the prior fiscal year, Trunorth Financial Services, Inc provided financial planning services to 51-100 of its clients. The firm does sell products or offer services apart from investment advisory services 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

    • Find a firm that offers this service

      Selection of Other Advisors

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

    • Offered by 3% of firms

      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

    Fees charged by financial advisors largely depend on which services the firm provides the client. Fees billed by the firm may include some blend of the following fee types: asset-based, hourly or fixed. The firm does not participate in a wrap fee program, in which the firm 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.

    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.

    • 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 provides services to retail investors and high net worth investors. Out of its 894 accounts, Trunorth Financial Services, Inc's biggest client type is retail investors, although it also manages money for 44 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 under management 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). None of the firm's clients are represented by people from outside of the U.S.

    • High-Net-Worth Individuals* - 12.09%
    • Other Individuals - 87.91%
    • 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

    Trunorth Financial Services, Inc does not have any disclosures.

    Please visit its Form ADV for more details.

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