Planners Financial Services, Inc. (Mendota Heights)

Name: Planners Financial Services, Inc.
Address: 1210 Northland Drive, Mendota Heights, MN, 55120
Telephone: 651-405-9000

Planners Financial Services, Inc. is a large advisory firm based in Mendota Heights. It manages $91.91 million of regulatory assets for 475 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Minnesota, Texas, and Wisconsin.

Planners Financial Services provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Planners Financial Services: assets under management

The assets under management (AUM) of Planners Financial Services, Inc. is $91.91 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 89% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $91.91 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $193.5 thousand each.

Planners Financial Services has custody of $15.19 million in cash and securities for 66 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 cash and cash equivalents, which make up 12% of the firm’s portfolio. Investments in exchange traded securities form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Planners Financial Services, Inc. for their services and products based on a percentage of assets under management and hourly charges. 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 Donald Leavitt Mccoy serves?

The firm provides services to individuals, high net worth individuals, and state or municipal government entities. The largest group of clients of Donald Leavitt Mccoy is high net worth individuals with 42 clients and $61.57 million of assets under management. Among the 6 most similar advisory firms, Planners Financial Services has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $91.91 million for 198 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.

Planners Financial Services doesn't advise any private funds.

Careers at Planners Financial Services, Inc.

The company employs 2 people that are either part- or full-time employees. 50 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.

Donald Leavitt Mccoy has been acting as President since 1 May 2004. Tracy Anne Gustafson joined the executive team most recently as the Senior Vice President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Barbara Louise Montgomery	Board member	1 Mar 1984	Other	xxx-xx-xxxx
Stanley Eugene Sorem	Sr. vice president	1 Mar 1997	Other	430756
Henry Irving Montgomery	Chairman,ceo & treasurer	1 Apr 1999	75% - 100%	338399
Stanley Eugene Sorem	Sr. vice president	1 Apr 1999	Other	430756
Donald Leavitt Mccoy	Vice president	1 Apr 1999	Other	2925876
Donald Leavitt Mccoy	President-chief compliance officer-treasurer	1 Mar 2004	75% - 100%	2925876
Henry Irving Montgomery	Chairman and ceo	1 Mar 2004	75% - 100%	338399
James Lawrence Jr Keating	Sr. vice president secretary treasurer	1 Mar 2004	Other	3227533
Henry Irving Montgomery	Chairman and ceo	1 May 2004	75% - 100%	338399
Donald Leavitt Mccoy	President	1 May 2004	Other	2925876
James Lawrence Jr Keating	Sr. vice president secretary treasurer	1 May 2004	Other	3227533
Deborah Carter Mccoy	Board member, secretary	1 Oct 2005	Other	5054677
Victoria Rae Keating	Board member	1 Oct 2005	25% - 50%	5054720
Tracy Anne Gustafson	Senior vice president	1 Jun 2012	Other	5313898

Based in Mendota Heights

The principal office where Planners Financial Services, Inc. performs its advisory services is located at 1210 Northland Drive, Mendota Heights, MN 55120, 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 651-405-9000 or by fax 651-994-2580. The normal business hours are 8:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at plannersfinancialservices.com.