Wealth Forward, LLC (Fargo)


Wealth Forward, LLC is a large advisory firm based in Fargo. It manages $110.86 million of regulatory assets for 878 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Minnesota, North Dakota, and Texas.

Wealth Forward provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wealth Forward: assets under management

The assets under management (AUM) of Wealth Forward, LLC is $110.86 million. The firm's AUM has gone down by -1% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $102.84 million in discretionary accounts and $8.02 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $120.56 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $320.74 thousand.
Wealth Forward has custody of $7.61 million in cash and securities for 13 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 85% of the total AUM. The second-largest asset type is exchange traded securities, which make up 8% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wealth Forward, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Wealth Forward serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Wealth Forward is high net worth individuals with 53 clients and $59.82 million of assets under management. Among the 4 most similar advisory firms, Wealth Forward has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $110.86 million for 349 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.

Wealth Forward doesn't advise any private funds.

Careers at Wealth Forward, LLC

The company employs 3 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 2 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
Ryan Steven Berg Member 1 Dec 2016 75% - 100% 4718436
Stephanie L Ternes Chief compliance officer 1 Jul 2017 Other 5198724

Based in Fargo

The principal office where Wealth Forward, LLC performs its advisory services is located at 2632 47 Th St S., Fargo, ND 58104, 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 701-293-5789 or by fax 701-293-0331. The normal business hours are 8am - 5pm on Monday - Friday. You can find more information about the New York firm at mywealthforward.com.