Trunorth Financial Services, Inc
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Learn more about Trunorth Financial Services, Inc
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
Number of Advisors
Trunorth Financial Services, Inc by the Numbers
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
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
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Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
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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
This is the hosting of seminars or workshops to educate investors on financial concepts.
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.
Offered by 69% of firms
Percentage of AssetsShow 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
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 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 1% of firms that offer this fee type
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
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
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
Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.
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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Trunorth Financial Services, Inc does not have any disclosures.
Please visit its Form ADV for more details.
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