LPwm LLC (Minneapolis)

Name: LPwm LLC
Address: 121 S. 8 Th Street, Minneapolis, MN, 55402
Telephone: (612) 338-5306

LPwm LLC is a large advisory firm based in Minneapolis. It manages $140 million of regulatory assets for 916 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of California, Illinois, Minnesota, and Wisconsin.

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

LPwm: assets under management

The assets under management (AUM) of LPwm LLC is $140 million, all of which is managed in discretionary accounts. $300 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $140 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $152.84 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 68% of the total AUM. The second-largest asset type is investment and business development companies, which make up 27% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay LPwm LLC for their services and products based on a percentage of assets under management 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 LPwm serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of LPwm is high net worth individuals with 52 clients and $71.6 million of assets under management. Among the 4 most similar advisory firms, LPwm has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $140 million for 274 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

LPwm doesn't advise any private funds.

Careers at LPwm LLC

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 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
David Matthew Benning	Managing member / managing partner / chief compliance officer	1 Sep 2018	50% - 75%	4451037
Jeffery James Sutton	Managing member / managing partner	1 Sep 2018	50% - 75%	4837117

Based in Minneapolis

The principal office where LPwm LLC performs its advisory services is located at 121 S. 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) 338-5306. The normal business hours are 9:00 am to 5:00pm on Monday - Friday. You can find more information about the New York firm at loganparkwealthmanagement.com.