Stevens, Foster Financial Services, Inc. (Bloomington)

Name: Stevens, Foster Financial Services, Inc.
Address: 7901 Xerxes Avenue South, Bloomington, MN, 55431
Telephone: 952-843-4200

Stevens, Foster Financial Services, Inc. is a large advisory firm based in Bloomington. It manages $489.66 million of regulatory assets for 982 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Arizona, California, Colorado, and 4 other states.

Stevens, Foster Financial Services provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Stevens, Foster Financial Services: assets under management

The assets under management (AUM) of Stevens, Foster Financial Services, Inc. is $489.66 million. The firm's AUM has gone down by -32% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $367.16 million in discretionary accounts and $122.5 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $585.58 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $345.07 thousand.

Stevens, Foster Financial Services has custody of $201.46 million in cash and securities for 94 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 88% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 9% of the firm’s portfolio. Investments in exchange traded securities form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Stevens, Foster Financial Services, Inc. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Stevens, Foster Financial Services serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Stevens, Foster Financial Services is high net worth individuals with 162 clients and $453.16 million of assets under management. Among the 10 most similar advisory firms, Stevens, Foster Financial Services has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $489.66 million for 376 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.

Stevens, Foster Financial Services doesn't advise any private funds.

Careers at Stevens, Foster Financial Services, Inc.

The company employs 25 people that are either part- or full-time employees. 32 percent of the employees work as investment advisers or researchers. 5 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
William Howard Stevens	President, cco	1 May 1988	75% - 100%	436000

Based in Bloomington

The principal office where Stevens, Foster Financial Services, Inc. performs its advisory services is located at 7901 Xerxes Avenue South, Bloomington, MN 55431, 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 952-843-4200 or by fax 952-843-4404. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at stevensfoster.com/.