Bgm Wealth Partners, LLC (Bloomington)

Name: Bgm Wealth Partners, LLC
Address: 4470 West 78 Th St. Circle, Bloomington, MN, 55435
Telephone: 952-844-2500

Bgm Wealth Partners, LLC is a large advisory firm based in Bloomington. It manages $407.97 million of regulatory assets for 530 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Florida, Minnesota, and Texas.

Bgm Wealth Partners provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bgm Wealth Partners: assets under management

The assets under management (AUM) of Bgm Wealth Partners, LLC is $407.97 million. The firm's AUM has grown by 27% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $402.45 million in discretionary accounts and $5.52 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $775.43 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $501.76 thousand.

Bgm Wealth Partners has custody of $3.89 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 49% of the total AUM. The second-largest asset type is exchange traded securities, which make up 44% of the firm’s portfolio. Investments in state and local bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bgm Wealth Partners, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Bgm Wealth Partners serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Bgm Wealth Partners is high net worth individuals with 88 clients and $376.79 million of assets under management. Among the 11 most similar advisory firms, Bgm Wealth Partners has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $407.97 million for 170 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.

Bgm Wealth Partners doesn't advise any private funds.

Careers at Bgm Wealth Partners, LLC

The company employs 6 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Llc Bgm Holdings	Member	1 Oct 1996	25% - 50%	41-1765929
Jon Thomas Meyer	Boardmember, chief compliance officer	1 Jun 1999	Other	2405548

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Bradley Eugene Mayer	Member	1 Oct 1992	25% - 50%	4388512
James Allen Grafstrom	Member	1 Oct 1992	25% - 50%	4388513

Based in Bloomington

The principal office where Bgm Wealth Partners, LLC performs its advisory services is located at 4470 West 78 Th St. Circle, Bloomington, MN 55435, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 952-844-2500 or by fax 952-844-2525. The normal business hours are 8:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at bgmwealth.com.