Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Charitable Organizations
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Ffp Wealth Management, LLC Overview
FFP Wealth Management, LLC is a registered investment advisory firm that operates out of its headquarters in Coon Rapids, Minnesota. Established in 2019, the firm has been offering investment advice only, making it a fee-only firm. This means that its clients pay only for the advice and services they receive and not for any financial products that may be sold to them. The services provided at FFP Wealth Management, LLC include financial planning and portfolio management for individuals and small businesses alike. The firm prides itself on providing personalized financial solutions that cater to each client's specific needs and goals. Its experienced advisors utilize their expertise to help clients navigate their financial landscape and achieve their desired outcomes. At FFP Wealth Management, LLC, the client's overall financial well-being is paramount. Therefore, the firm's approach to investing is based on a comprehensive outlook that considers the client's risk tolerance, time horizon, and financial goals. Through diligent research, portfolio construction, and active monitoring, FFP Wealth Management, LLC helps clients build and maintain their investment portfolios for optimal growth and long-term success.
FFP Wealth Management, LLC serves a diverse group of clients, including individuals, high net worth individuals, and charitable organizations. Their expertise is tailored to each client's unique financial needs, and they work diligently to provide personalized wealth management solutions. With years of experience, they offer expert advice on investment portfolios, retirement planning, estate planning, tax management, and philanthropic ventures. The fee structures available at FFP Wealth Management, LLC vary depending on the service provided. The most common payment method is a percentage of assets under management (AUM). This fee structure is based on a percentage of the assets that the firm manages for the client. The hourly fee structure is based on the time spent on a specific project or consultation. Fixed fees are also available and are based on the specific services provided. It is important to note that the fee structure is transparent and discussed before any work commences, ensuring clients are aware of the costs and the work being done. Overall, FFP Wealth Management, LLC provides flexible fee structures to ensure clients receive the best value for their investment and tailored solutions to meet their specific needs.
Typical Clients, Fee Structures & Investment Minimum
According to the note in FFP Wealth Management, LLC's Part 2 Brochure, the Full Service Asset Management minimum account size is $250,000 and the Model Portfolio asset management minimum account size is $100,000. However, it is worth noting that FFP has the discretion to waive the account minimum, which means that the investment minimum may not always apply.
How This Office Can Help Hoboken, NJ Residents
FFP Wealth Management, Inc provides comprehensive financial planning services to individuals and businesses in Hoboken, NJ. The financial situations that a person living in Hoboken may face are diverse, and FFP has the expertise to provide tailored solutions. For instance, someone living in Hoboken may be grappling with high living costs due to skyrocketing real estate prices. In such a scenario, FFP's financial advisors can help clients develop a budgeting plan to ensure that their expenses align with their income. Additionally, they can provide investment advice to help the clients grow their wealth over time, while minimizing risks by balancing investment portfolios. Another financial situation facing Hoboken residents is retirement planning. Many people are not saving enough for their retirement, and FFP can help clients develop a robust financial plan to ensure that they have enough resources to retire comfortably. This includes creating savings and investment strategies to meet long-term financial goals, taking into account tax implications and taking advantage of retirement plan contributions. Overall, FFP's financial services and expertise are there to help Hoboken residents navigate complex financial challenges and reach their financial goals.
Services Offered by Ffp Wealth Management, LLC
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 Ffp Wealth Management, LLC 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
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.
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.
Unavailable
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).
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.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
- Mon 9 AM–5 PM
- Tue 9 AM–5 PM
- Wed 9 AM–5 PM
- Thu 9 AM–5 PM
- Fri 9 AM–5 PM
- Sat Closed
- Sun Closed
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Ffp Wealth Management, LLC is registered to service clients in the following states:
- Florida
- Minnesota
- Texas
- Wisconsin
Disciplinary History
Ffp Wealth Management, LLC does not have any disclosures. Please visit it's Form ADV for more details.