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Advisornet Wealth Management Review

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Advisornet Wealth Management, registered in 2012, serves 40 state(s) with a licensed staff of 122 advisors. Advisornet Wealth Management manages $3.6 billion and provides investment advisory services for 5,625 clients (1:47 advisor/client ratio).



Firm Information


Summary Firm
Minimum Investment Ask firm
Average Client Balance $635,389
Total AUM $3.6 billion
Fee Range Ask firm
Advisor / Client Ratio 1:47
Languages Offered Ask firm
Specialities Ask firm
Website Visit Site
Phone Number 612-347-8600
Headquarters Minneapolis, MN
Locations See locations
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SEC Filings View SEC IAPD CRD #113074


Disciplinary Questions


After checking the disciplinary records of Advisornet Wealth Management, our system has identified the following question(s) to ask. Learn more.


Advisornet Wealth Management or an advisory affiliate was previously involved with violating a regulation or statute of a domestic or foreign court, the SEC, CFTC, or another regulatory body or commodities exchange.


What happened? When? How many times did it occur? Will anyone that was involved be involved with my accounts in any capacity?


Our system found no other disciplinary questions to ask. Checks take place monthly.



Conflict Questions


After checking the regulatory records of Advisornet Wealth Management, our system has identified the following question(s) to ask. Learn more.


What percentage of income does Advisornet Wealth Management receive from fees versus commissions?


Advisornet Wealth Management can accept commissions for its investment advisory services. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. While this allows for a broader range of investment options and management styles a firm can offer, it can also create an incentive for the firm to put their financial interests ahead of your own. Is the firm’s purpose to provide you financial planning and ongoing advice or to sell commission-based products to its clients?


Does Advisornet Wealth Management offer mutual funds that have 12b-1 fees?


12b-1 fees increase the total annual cost of owning a mutual fund with no guarantee of higher returns. Some firms receive these fees as payments, which creates an incentive to promote them.


How does Advisornet Wealth Management approach insurance sales? What conflicts do I need to be made aware of?


Currently Advisornet Wealth Management actively practices as insurance brokers or agents, or they are affiliated with an insurance company or agency. This arrangement creates a conflict where the firm and its representatives may be motivated to insure clients with products, including annuities and life insurance, that generate high sales commissions when lower-cost alternatives may exist.


Does Advisornet Wealth Management practice as a law firm? Is Advisornet Wealth Management affiliated with one?


This firm or an affiliate actively engages in business as a law firm or lawyer. When operating in this dual-capacity, advisors may be incentivized to implement plans as an attorney that could drive higher revenue for themselves as investment advisors.


Does Advisornet Wealth Management offer products that have performance-based fees, or does it accept performance-based fees? Will any of my assets be invested in those products?


When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. While this may seem like an attractive compensation structure to ensure your advisor is making your money work for you, often, the managers of those products are incentivized to take inappropriate risks to beat their performance benchmark. For instance, research has shown that mutual funds that use incentive fees take on more risk that funds that do not, and tend to double down and increase their risk following a poor performance. This could be detrimental to a client during down markets.


Does Advisornet Wealth Management perform side-by-side management? How does Advisornet Wealth Management mitigate conflicts that arise from managing accounts with differing fee structures?


This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. Side-by-side management can create an incentive for the advisor to favor the larger funds, potentially leading to unequal trading costs and unfavorable trade executions for their retail clients.


Our system found no other conflict questions to ask. Checks take place monthly.



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Disciplinary History


An important aspect of the Trust Algorithm is processing the SEC Form ADV Part 1 filing of each Registered Investment Advisor (RIA). “Item 11 Disclosure Information” contains a list of valuable disclosures that are relevant for Americans.

As identified in SEC Form ADV Part 1, Item 11 “Disclosure Information”, the Trust Algorithm identified the following disciplinary disclosures for Advisornet Wealth Management:




Cost


Unfortunately, there is no single, uniform pricing standard for working with a financial advisor. Catchphrases, including "fee-only," can be helpful; however, Americans often get confused with competitors promoting "fee-based" in response.

Ultimately, to understand the underlying costs of advisory services, we always recommend asking for an itemized fees breakdown and reading the firm's ADV Part 2 Brochure (Item 5, "Fees and Compensation").


View Fee Disclosures




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This automated report was generated using SEC and FINRA data and was last updated on January 4th, 2022*. For data support, email "support@investor.com". Views: 119 (trailing six months). Firms that receive a 4.5 or 5-star rating are considered Trusted by investor.com. Learn more.


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