Questar Asset Management, Inc. (Minneapolis)

Name: Questar Asset Management, Inc.
Address: 5701 Golden Hills Drive, Minneapolis, MN, 55416
Telephone: 763-765-2826

Questar Asset Management, Inc. is a large advisory firm based in Minneapolis. It manages $1.05 billion of regulatory assets for 6,432 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.

Questar Asset Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Questar Asset Management: assets under management

The assets under management (AUM) of Questar Asset Management, Inc. is $1.05 billion. The firm's AUM has grown by 2378% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $182.59 million in discretionary accounts and $871.51 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $161.59 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $164.37 thousand.

Investments

The firm invests in non-exchange traded securities the most. They account for 56% of the total AUM. The second-largest asset type is exchange traded securities, which make up 33% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Questar Asset Management, 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 Thomas Patrick Burns serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Thomas Patrick Burns is individuals with 4,450 clients and $985.53 million of assets under management. Among the 13 most similar advisory firms, Questar Asset Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.05 billion for 4,519 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.

Questar Asset Management doesn't advise any private funds.

Careers at Questar Asset Management, Inc.

The company employs 431 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 431 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.

Thomas Patrick Burns has been acting as President since 1 Dec 2007. Matthew Neil Kalani Fries has served as the Chief Investment Officer since 1 Oct 2007. Eric Jon Thomes joined the executive team most recently as the Chairman.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Indiana Yorktown Financial Companies	Shareholder	1 Apr 2004	75% - 100%	35-2065919
John Herbert Gakenheimer	President and director	1 Apr 2004	Other	810171
Robert Edward Boone	Director	1 Apr 2004	Other	600374
Jason Patrick Kavanaugh	Secretary, treasurer and director	1 Apr 2004	Other	2693303
Patrick James Swarz	Chief compliance officer	1 Apr 2004	Other	2554578
Inc. Yorktown Financial Companies	Shareholder	1 Apr 2004	75% - 100%	35-2065919
Thaddeus Winthrop Ingersoll	Chief compliance officer	1 Jul 2004	Other	2616975
Kristine Marie Lord Krahn	Chief legal officer, secretary	1 Oct 2005	Other	4241291
Vincent Gerard Vitiello	Director	1 Nov 2005	Other	1059845
Lynn Carlton Tyson	Director	1 Nov 2005	Other	849990
Vincent Gerard Vitiello	Director and chairman	1 Feb 2006	Other	1059845
Thaddeus Winthrop Ingersoll	Chief compliance officer and secretary	1 Jul 2006	Other	2616975
Michael James Jorgensen	Director	1 Jul 2006	Other	2676329
John Herbert Gakenheimer	Chief executive office and president	1 Aug 2006	Other	810171
Thomas Donald Barta	Chief financial officer	1 Aug 2006	Other	5209802
Anastasia Marie Kenny	Chief operating officer	1 Aug 2006	Other	1341868
Julius Maxamillion Davidson	Secretary	1 Aug 2006	Other	4708359
Melissa Ann O'donnell	Assistant secretary	1 Aug 2006	Other	5225781
Emily Suzanne Reitan	Chief financial officer	1 Sep 2006	Other	5209812
Patrick Andrew Foley	Chief operating officer	1 Dec 2006	Other	4143171
Matthew Neil Kalani Fries	Vp, investment platforms and products	1 May 2007	Other	2723824
Matthew Neil Kalani Fries	Chief investment officer	1 Oct 2007	Other	2723824
Thomas Patrick Burns	Chairman	1 Dec 2007	Other	1028109
Teresa Michelle Hardy	Assistant secretary	1 May 2008	Other	5998275
Giulio Terzariol	Director	1 Aug 2008	Other	5650071
Kevin Scott Bachmann	President, ceo and director	1 Dec 2008	Other	1406637
Melissa Cawood Brooks	Chief financial officer	1 Mar 2011	Other	4219393
Matthew Neil Kalani Fries	Chief operating officer	1 Jun 2012	Other	2723824
Aimee Boyd Hulsing	Chief technology officer	1 Jun 2012	Other	4948004
Aimee Boyd Hulsing	Chief technology/processes officer	1 Sep 2013	Other	4948004
Amy Catherine Halverson	Director of field development	1 Nov 2013	Other	3231087
Matthew Christopher Dian	Chief supervision officer	1 Feb 2015	Other	2246088
Sharon Lea Du Mond	Chief executive officer, director	1 Jul 2015	Other	2134316
Scott Andrew Carlson	President	1 Jul 2015	Other	1785284
Matthew Christopher Dian	Chief operating and supervision officer	1 Sep 2015	Other	2246088
Amy Catherine Halverson	Chief marketing and program development officer	1 Sep 2015	Other	3231087
Darcy Lyn Matz	Chief field development and marketing officer	1 Nov 2015	Other	4847207
William Edward Gaumond	Director	1 Jan 2016	Other	5294073
Amy Catherine Halverson	Chief financial officer and strategic planning	1 Apr 2016	Other	3231087
Barbara J Braun	Chief technology and executive projects officer	1 Jul 2017	Other	6839583
Kristine Alane Starkman	Chief compliance officer	1 Sep 2017	Other	2409241
Jessica Kay Sand Peterson	Chief operating and supervision officer	1 Feb 2019	Other	4274882
Eric Jon Thomes	Chairman	1 Apr 2019	Other	4645308
Melissa Cawood Brooks	Chief financial officer	1 Apr 2019	Other	4219393

Indirect Owners

The SEC currently registers 6 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Allianz Of America Inc	Shareholder	1 Apr 1996	75% - 100%	13-2883190
Allianz Life Insurance Company Of North America	Shareholder	1 Nov 2005	75% - 100%	41-1366075
Allianz Akiengesellschaft	Sharehholder	1 Nov 2005	75% - 100%	98-0122343
Allianz Societas Europaea	Shareholder	1 Nov 2005	75% - 100%	98-0122343
Allianz Societas Europaea	Shareholder	1 Jun 2012	75% - 100%	98-0122343
Allianz Europe B.V.	Shareholder	1 Jun 2012	75% - 100%	foreign

Based in Minneapolis

The principal office where Questar Asset Management, Inc. performs its advisory services is located at 5701 Golden Hills Drive, Minneapolis, MN 55416, which is also the mailing address of the firm. An additional office of the firm is in Greeley, CO. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 763-765-2826 or by fax 763-765-5996. 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 questarcapital.com.