Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management for Businesses or Institutional Clients
- Pension Consulting Services
Types of Clients
- Individuals (Not High Net Worth)
Available Fee Structures
- Hourly
- Fixed Fees (Other than subscription)
- Other
Mindful Asset Planning Overview
Mindful Asset Planning is an investment advisory firm headquartered in Apple Valley, Minnesota that has been in business since 2015. The firm operates under a fee only arrangement, which means clients only pay a fee for the services they receive. Mindful Asset Planning is a registered investment advisory firm that provides investment advice only. The firm's services include financial planning, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. Mindful Asset Planning also provides pension consulting services to its clients. Overall, the firm's focus on providing investment advice only and its fee only arrangement demonstrates a commitment to transparency and putting clients' interests first. With a range of services available, including financial planning and portfolio management, Mindful Asset Planning can help individuals and businesses achieve their long-term financial goals.
MINDFUL ASSET PLANNING caters to a diverse range of clients, including individuals who require expert assistance in managing their finances. Their clients vary in age, income, and assets. The firm is well-equipped to address the unique financial goals and objectives of each client. They provide personalized financial planning and investment services that are tailored to meet the specific needs of their clients. When it comes to the fee structure, MINDFUL ASSET PLANNING offers different options that depend on the service provided. One of the options is the hourly fee structure, which is billed for the time spent by the financial planner, investment manager, or advisor working with the client. Fixed fees are also available, which entails a set fee for each service or package of services provided. Other fee structures are also available, including commission-based fees, assets under management fees, and performance-based fees. This flexibility allows clients to choose the fee structure that suits their budget and needs while ensuring transparency and accountability in the services they receive.
Typical Clients, Fee Structures & Investment Minimum
According to the Part 2 Brochure of Mindful Asset Planning, the firm does not impose a minimum amount of assets for maintaining a client relationship. Hence, the brochure does not mention an investment minimum for the firm.
How This Office Can Help Apple Valley, MN Residents
Mindful Asset Planning provides financial planning services to clients in Apple Valley, MN, helping them make informed decisions regarding their financial future. The company offers a range of services, including retirement planning, investment management, tax planning, and estate planning. Clients in Apple Valley may face various financial challenges, such as unexpected medical expenses, job loss, and rising living costs. Mindful Asset Planning works closely with clients to understand their unique financial situation and develop a personalized plan that addresses their specific needs and goals. For example, someone living in Apple Valley may be approaching retirement age but hasn't saved enough to retire comfortably. Mindful Asset Planning can help create a retirement plan that outlines how to maximize Social Security benefits, invest retirement savings, and manage debt to minimize expenses. Additionally, younger clients may have concerns about saving for their children's college education while still investing in their own retirement. Mindful Asset Planning can assist in creating a college savings plan and balancing it with other financial priorities. Overall, Mindful Asset Planning strives to provide clients in Apple Valley with customized financial solutions that help them achieve their financial goals and overcome any obstacles they may face.
Services Offered by Mindful Asset Planning
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Mindful Asset Planning most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Unavailable
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Types of Clients
This Office Location
Other Office Locations
This firm has no other locations.
State Registrations
Mindful Asset Planning is registered to service clients in the following states:
- Minnesota
Disciplinary History
Mindful Asset Planning does not have any disclosures. Please visit it's Form ADV for more details.