Minneapolis Portfolio Management Group, LLC (Minneapolis)

Name: Minneapolis Portfolio Management Group, LLC
Address: 80 South 8 Th Street, Minneapolis, MN, 55402
Telephone: (612) 334-2000

Minneapolis Portfolio Management Group, LLC is a large advisory firm based in Minneapolis. It manages $974.06 million of regulatory assets for 2,870 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Alabama, Arizona, California, and 39 other states.

Minneapolis Portfolio Management Group provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Minneapolis Portfolio Management Group: assets under management

The assets under management (AUM) of Minneapolis Portfolio Management Group, LLC is $974.06 million. The firm's AUM has grown by 778% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $848.25 million in discretionary accounts and $125.82 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $395.45 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $173.54 thousand.

Minneapolis Portfolio Management Group has custody of $96.73 million in cash and securities for 125 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 94% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 6% of the firm’s portfolio.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Minneapolis Portfolio Management Group, LLC for their services and products based on a percentage of assets under management. 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 Minneapolis Portfolio Management Group serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Minneapolis Portfolio Management Group is high net worth individuals with 537 clients and $464.93 million of assets under management. Among the 7 most similar advisory firms, Minneapolis Portfolio Management Group has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $883.91 million for 2,394 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.

Minneapolis Portfolio Management Group doesn't advise any private funds.

Careers at Minneapolis Portfolio Management Group, LLC

The company employs 9 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There are 7 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 don’t receive compensation from other entities for client referrals.

Robert Austin Britton joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Phillip Warren Grodnick	Chief executive officer	1 Dec 2003	Other	230540
Harrison Todd Grodnick	Chief operating officer	1 Dec 2003	75% - 100%	2276179
Robert Austin Britton	Chief compliance officer	1 Nov 2011	Other	4980728

Based in Minneapolis

The principal office where Minneapolis Portfolio Management Group, LLC performs its advisory services is located at 80 South 8 Th Street, Minneapolis, MN 55402, 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 (612) 334-2000 or by fax (612) 334-2001. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at mpmgllc.com/mpmgllc/web/me.get?web.home.