Bond & Devick Financial Network, Inc. (Saint Louis Park)

Name: Bond & Devick Financial Network, Inc.
Address: 600 South Hwy 169,, Saint Louis Park, MN, 55426
Telephone: (952) 591-0113

Bond & Devick Financial Network, Inc. is a large advisory firm based in Saint Louis Park. It manages $315.21 million of regulatory assets for 1,023 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Arizona, California, Florida, and 8 other states.

Bond & Devick Financial Network provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bond & Devick Financial Network: assets under management

The assets under management (AUM) of Bond & Devick Financial Network, Inc. is $315.21 million. The firm's AUM has grown by 21% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $315.01 million in discretionary accounts and $195.81 thousand in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $310.35 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $24.48 thousand.

Bond & Devick Financial Network has custody of $133.33 million in cash and securities for 212 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 80% of the total AUM. The second-largest asset type is exchange traded securities, which make up 13% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bond & Devick Financial Network, Inc. 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 Bond & Devick Financial Network serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Bond & Devick Financial Network is high net worth individuals with 118 clients and $202.45 million of assets under management. Among the 9 most similar advisory firms, Bond & Devick Financial Network has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $315.21 million for 412 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.

Bond & Devick Financial Network doesn't advise any private funds.

Careers at Bond & Devick Financial Network, Inc.

The company employs 10 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. 6 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.

Teresa Ann Devick joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Richard James Devick	Chief executive officer	1 Dec 2000	75% - 100%	2517289
Teresa Ann Devick	Chief compliance officer	1 Jun 2016	Other	2241380

Based in Saint Louis Park

The principal office where Bond & Devick Financial Network, Inc. performs its advisory services is located at 600 South Hwy 169,, Saint Louis Park, MN 55426, 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) 591-0113 or by fax 952-591-0104. The normal business hours are 7:30 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at bondanddevick.com/.