Boulay Financial Advisors, LLC (Minneapolis)

Name: Boulay Financial Advisors, LLC
Address: 7500 Flying Cloud Drive, Suite 800, Minneapolis, MN, 55344
Telephone: 952-893-9320

Boulay Financial Advisors, LLC is a large advisory firm based in Minneapolis. It manages $760.86 million of regulatory assets for 2,095 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Florida, Minnesota, Texas, and Wisconsin.

Boulay Financial Advisors 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, educational seminars and workshops, and selection of other advisers for tpm platform. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Boulay Financial Advisors: assets under management

The assets under management (AUM) of Boulay Financial Advisors, LLC is $760.86 million. The firm's AUM has grown by 308% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $756.22 million in discretionary accounts and $4.64 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $361.48 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.55 million.

Boulay Financial Advisors has custody of $629.01 million in cash and securities for 604 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 74% of the total AUM. The second-largest asset type is exchange traded securities, which make up 20% of the firm’s portfolio. Investments in state and local bonds form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Boulay Financial Advisors, 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 Boulay Financial Advisors serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Boulay Financial Advisors is high net worth individuals with 154 clients and $617.39 million of assets under management. Among the 9 most similar advisory firms, Boulay Financial Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $752.35 million for 630 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.

Boulay Financial Advisors doesn't advise any private funds.

Careers at Boulay Financial Advisors, LLC

The company employs 21 people that are either part- or full-time employees. 62 percent of the employees work as investment advisers or researchers. 8 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 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
David Edgar Bremer	Managing member/chief compliance officer	1 Jan 2001	Other	2894697
Heutmaker Zibell & Co. P.L.L.P. Boulay	Owner	1 Jan 2001	75% - 100%	41-0887288
Pllp Boulay	Owner	1 Jan 2001	75% - 100%	41-0887288
Robert John Franske	Member	1 Jan 2001	Other	2992884
Jay Robert Brown	Chief compliance officer	1 Aug 2017	Other	4542374

Based in Minneapolis

The principal office where Boulay Financial Advisors, LLC performs its advisory services is located at 7500 Flying Cloud Drive, Suite 800, Minneapolis, MN 55344, 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 952-893-9320 or by fax 952-893-3830. The normal business hours are 8:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at boulaygroup.com.