Lifetime Wealth Management, LLC (Rochester)

Lifetime Wealth Management, LLC is a large advisory firm based in Rochester. It manages $126.91 million of regulatory assets for 456 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdiction of Minnesota.

Lifetime Wealth Management provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Lifetime Wealth Management: assets under management

The assets under management (AUM) of Lifetime Wealth Management, LLC is $126.91 million. The firm's AUM has grown by 243% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $123.76 million in discretionary accounts and $3.15 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $285.81 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $137.13 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 96% of the total AUM. The second-largest asset type is exchange traded securities, which make up 3% of the firm’s portfolio. Investments in investment grade corporate bonds form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lifetime Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. 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 Lifetime Wealth Management serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Lifetime Wealth Management is high net worth individuals with 41 clients and $94.27 million of assets under management. Among the 9 most similar advisory firms, Lifetime Wealth Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $126.91 million for 125 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.

Lifetime Wealth Management doesn't advise any private funds.

Careers at Lifetime Wealth Management, LLC

The company employs 3 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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
Bradley Marvin Miller	Chief compliance officer & managing member	1 May 2008	75% - 100%	2256443

Based in Rochester

The principal office where Lifetime Wealth Management, LLC performs its advisory services is located at 717 3 Rd St Sw, Rochester, MN 55902, 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 507-288-5587 or by fax 507-288-5864. The normal business hours are 8 am to 4 pm on Monday - Friday.