Everest Financial Group LLC (Minneapolis)


Everest Financial Group LLC is a large advisory firm based in Minneapolis. It manages $312.22 million of regulatory assets for 2,791 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Arizona, California, Colorado, and 6 other states.

Everest Financial Group provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Everest Financial Group: assets under management

The assets under management (AUM) of Everest Financial Group LLC is $312.22 million. The firm's AUM has grown by 988% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $289.82 million in discretionary accounts and $22.4 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $108.91 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $172.33 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 95% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 3% of the firm’s portfolio. Investments in non-exchange traded securities form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Everest Financial Group LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Everest Financial Group serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Everest Financial Group is individuals with 2,791 clients and $217.92 million of assets under management. Among the 7 most similar advisory firms, Everest Financial Group has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $312.22 million for 2,898 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Everest Financial Group doesn't advise any private funds.

Careers at Everest Financial Group LLC

The company employs 12 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 12 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Lindsay Jo Dockter joined the executive team most recently as the Chief Compliance Officer In Training.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
James Andrew Michaels Managing member/chief executive officer 1 Sep 2004 Other 2130582
Christopher Arthur Cheney Member 1 Aug 2005 Other 4044674
John William Mackimm Member 1 Dec 2005 Other 1999164
King Samuel Kearns Member 1 Dec 2005 Other 2207854
William Eugene Hunstock Member 1 Dec 2005 Other 2128157
Nikolas Paul Wogstad Member 1 Dec 2005 Other 2522891
Tai Hwee Stanley Diong Chief compliance officer/chief financial officer/treasurer/member 1 Dec 2005 Other 4128745
Tiow Keng Chan Vice president/member 1 Dec 2005 Other 2496814
Tai Hwee Diong Chief financial officer/treasurer/member 1 Dec 2005 Other 4128745
Lindsay Jo Dockter Chief compliance officer in training 1 Oct 2007 Other 4614466

Based in Minneapolis

The principal office where Everest Financial Group LLC performs its advisory services is located at 701 Xenia Ave S, Minneapolis, MN 55416 1029, which is also the mailing address of the firm. An additional office of the firm is in Breckenridge, CO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 763-923-7525 or by fax 763-923-7535. The normal business hours are 8:30 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at everestfg.us.