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Securian Financial Services Review

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Securian Financial Services, registered in 1993, serves 49 state(s) with a licensed staff of 1,050 advisors. Securian Financial Services manages $12.4 billion and provides investment advisory services for 51,372 clients (1:49 advisor/client ratio).



Firm Information


Summary Firm
Minimum Investment Ask firm
Average Client Balance $240,505
Total AUM $12.4 billion
Fee Range Ask firm
Advisor / Client Ratio 1:49
Languages Offered Ask firm
Specialities Ask firm
Website Visit Site
Phone Number 651-665-6669
Headquarters Saint Paul, MN
Locations See locations
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SEC Filings View SEC IAPD CRD #15296


Disciplinary Questions


After checking the disciplinary records of Securian Financial Services, our system has identified the following question(s) to ask. Learn more.


Securian Financial Services or an advisory affiliate has previously been found guilty of violating a regulation or statute by 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?


The SEC, CFTC, or another regulatory agency has previously entered an order against Securian Financial Services or an advisory affiliate in connection with an investment-related activity.


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 Securian Financial Services, our system has identified the following question(s) to ask. Learn more.


Is Securian Financial Services also a Broker-Dealer or are they affiliated with one? What conflicts arise from this relationship? How does Securian Financial Services mitigate them?


Currently Securian Financial Services is also a Broker-Dealer or is affiliated with one. When firms are dual-registered as broker-dealers, they may be subject to compensation-related conflicts of interest, including revenue sharing from mutual funds, cross-selling of commissioned insurance products, and the sale of proprietary investment products. All of these conflicts can negatively impact clients via hidden fees and overall higher costs.


Does Securian Financial Services 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 Securian Financial Services approach insurance sales? What conflicts do I need to be made aware of?


Currently Securian Financial Services 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 Securian Financial Services 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 Securian Financial Services perform side-by-side management? How does Securian Financial Services 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.


Does Securian Financial Services recommend securities that it or its affiliates underwrite, or in which it serves as general or managing partner? Will any of my assets be invested in those products?


Securian Financial Services recommends securities that they may have recently taken public or otherwise have controlling interest over. This relationship could introduce bias where a firm and its advisors may push those products over others that may have a more favorable performance with which they are not affiliated.


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 Securian Financial Services:




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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Other Firms


Masterplan Retirement Consultants, West Loop Financial, Geremia Financial Services, Sagevest Wealth Management




This automated report was generated using SEC and FINRA data and was last updated on January 4th, 2021*. For data support, email "support@investor.com". Views: 238 (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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