Murray Financial Group, LLC (Albert Lea)

Name: Murray Financial Group, LLC
Address: 200 North Broadway Ave., Albert Lea, MN, 56007
Telephone: 507-373-8216

Murray Financial Group, LLC is a large advisory firm based in Albert Lea. It manages $625 million of regulatory assets for 1,897 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Arizona, California, Florida, and 7 other states.

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

Murray Financial Group: assets under management

The assets under management (AUM) of Murray Financial Group, LLC is $625 million. The firm's AUM has grown by 316% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $472.52 million in discretionary accounts and $152.48 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $253.77 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $4.36 million.

Murray Financial Group has custody of $20.63 million in cash and securities for 27 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 86% of the total AUM. The second-largest asset type is exchange traded securities, which make up 9% of the firm’s portfolio. Investments in cash and cash equivalents form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Murray Financial Group, LLC for their services and products based on a percentage of assets under management and hourly charges. 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 Murray Financial Group serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Murray Financial Group is high net worth individuals with 133 clients and $325.89 million of assets under management. Among the 8 most similar advisory firms, Murray Financial Group has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $625 million for 813 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.

Murray Financial Group doesn't advise any private funds.

Careers at Murray Financial Group, LLC

The company employs 12 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 8 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
Richard John Murray	Managing member and chief compliance officer	1 Apr 2011	75% - 100%	1107727
Anthony Dennis Albright	Chief compliance officer	1 May 2011	Other	2056092

Based in Albert Lea

The principal office where Murray Financial Group, LLC performs its advisory services is located at 200 North Broadway Ave., Albert Lea, MN 56007 The mailing address of the firm is P.O. Box 171, Albert Lea, MN 56007. An additional office of the firm is in Minneapolis, MN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 507-373-8216 or by fax 507-373-6220. The normal business hours are 8:00 to 5:00 on Monday - Friday. You can find more information about the New York firm at iscfinancialadvisors.com.