Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Pension & Profit Sharing Plans
- Charitable Organizations
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
Northstar Financial Planners, Inc. Overview
Northstar Financial Planners is a fee-only registered investment advisory firm based in Plantation, Florida. Since its inception in 2014, the firm has been providing professional financial planning to individuals and small businesses. As a fee-only firm, Northstar does not earn commissions from the sale of financial products, allowing them to act in the best interests of their clients. The company specializes in investment advice and offers personalized financial planning services to help clients achieve their financial goals. Northstar employs experienced financial planners who have a deep understanding of the financial markets and can help their clients invest their money wisely. The firm is committed to providing portfolio management services to help clients maximize their investments. They work closely with their clients to identify their investment goals, risk tolerance, and time horizon. Northstar's investment team then creates personalized investment portfolios designed to achieve those specific goals. Overall, Northstar Financial Planners is an excellent option for anyone seeking comprehensive financial planning and investment advice. Their fee-only structure ensures that clients can trust the advice given by their advisors, and they can always count on the firm's commitment to excellence in client service.
rate flat fee Northstar Financial Planners, Inc. caters to diverse kinds of clients, including individuals, high net worth individuals, pension or profit sharing plans, and charitable organizations. They offer various methods of compensation based on the services provided to ensure that clients are able to choose the most suitable option. Clients may opt for a percentage of asset under management (AUM) if they want advisors to oversee and manage their assets. Alternatively, clients may choose an hourly rate, especially if they require more specialized guidance on certain subjects. Moreover, Northstar Financial Planners, Inc. also has a flat fee setup for those who prefer a fixed cost structure. No matter the needs of their clients, the firm provides fee structures that are flexible and tailored to meet the demands of each individual investor.
Typical Clients, Fee Structures & Investment Minimum
The investment minimum for Northstar Financial Planners, Inc. is $500,000, according to their Part 2 Brochure note about investment minimums. However, they also mention that they have the discretion to waive this minimum account size.
How This Office Can Help Broward County, FL Residents
Northstar Financial Planners assists clients in Broward County, FL by providing personalized investment strategies tailored to each client's specific financial situation. The advisors at Northstar recognize that residents of Broward County may face unique financial challenges such as navigating taxes in a state with high property values, planning for retirement in a region with a relatively high cost of living, and ensuring adequate coverage for potential natural disasters. To address these challenges, Northstar provides comprehensive financial planning services that take into account each client's individual needs, goals, and risk tolerance. These services may include developing investment plans, managing portfolios, reviewing insurance coverage, planning for long-term care, and creating estate plans. By providing holistic financial guidance, Northstar helps clients in Broward County achieve their financial objectives and prepare for a secure and prosperous future.
Services Offered by Northstar Financial Planners, Inc.
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Northstar Financial Planners, Inc. most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Unavailable
Subscription (Newsletter or Periodical)
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
Other Office Locations
This firm has no other locations.
State Registrations
Northstar Financial Planners, Inc. is registered to service clients in the following states:
- California
- Colorado
- Florida
- Georgia
- Louisiana
- New York
- Texas
Disciplinary History
Northstar Financial Planners, Inc. does not have any disclosures. Please visit it's Form ADV for more details.