Northern Oak Wealth Management. Inc (Milwaukee)

Name: Northern Oak Wealth Management. Inc
Address: 555 E. Wells Street, Suite 1625, Milwaukee, WI, 53202
Telephone: 414-278-0590

Northern Oak Wealth Management. Inc is a large advisory firm based in Milwaukee. It manages $758.44 million of regulatory assets for 894 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Northern Oak Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and occassional consulting services with respect to securities. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Northern Oak Wealth Management: assets under management

The assets under management (AUM) of Northern Oak Wealth Management. Inc is $758.44 million. The firm's AUM has grown by 49% since the beginning of its operation, and $3.64 million of the total AUM is attributable to clients outside of the United States.

The firm manages $756.34 million in discretionary accounts and $2.1 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $846.96 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.1 million.

Investments

The firm invests in exchange traded securities the most. They account for 72% of the total AUM. The second-largest asset type is state and local bonds, which make up 18% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Northern Oak Wealth Management. Inc 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 Northern Oak Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Northern Oak Wealth Management is high net worth individuals with 156 clients and $606.26 million of assets under management. Among the 10 most similar advisory firms, Northern Oak Wealth Management has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $758.44 million for 426 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.

Northern Oak Wealth Management doesn't advise any private funds.

Careers at Northern Oak Wealth Management. Inc

The company employs 6 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates 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
Mark Robert Zellmer	Director, chairman	1 Apr 2000	Other	4342927
David Paul Becker	Director, president, chief investment officer, secretary, treasurer, chief compliance officer	1 Apr 2001	25% - 50%	2839572
Northern Oak Acquisition Llc	Shareholder	1 Jan 2006	50% - 75%	xxx-xx-xxxx
Lynn Vorbeck	Vice president	1 Jun 2007	Other	5412283
David James Szatkowski	Senior vice president	1 Mar 2008	Other	1986819
Marc Kenneth Wojcik	Vice president	1 Jul 2012	Other	2373101
Matthew Frank Bappert	Portfolio manager	1 Jan 2016	Other	6569779

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Mark Robert Zellmer	Shareholder	1 Jan 2006	50% - 75%	4342927

Based in Milwaukee

The principal office where Northern Oak Wealth Management. Inc performs its advisory services is located at 555 E. Wells Street, Suite 1625, Milwaukee, WI 53202, 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 414-278-0590 or by fax 414-278-1294. The normal business hours are 8:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at northern-oak.com.