Northland Securities, Inc. (Minneapolis)

Name: Northland Securities, Inc.
Address: 150 South 5 Th Street, Minneapolis, MN, 55402
Telephone: 800-851-2920

Northland Securities, Inc. is a large advisory firm based in Minneapolis. It manages $97.52 million of regulatory assets for 526 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Arizona, California, Florida, and 10 other states.

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

Northland Securities: assets under management

The assets under management (AUM) of Northland Securities, Inc. is $97.52 million. The firm's AUM has grown by 235% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $95.59 million in discretionary accounts and $1.93 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $191.18 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $74.23 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 62% of the total AUM. The second-largest asset type is investment and business development companies, which make up 20% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Northland Securities, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Randy Jon Lindrud serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Randy Jon Lindrud is high net worth individuals with 127 clients and $77.7 million of assets under management. Among the 4 most similar advisory firms, Northland Securities has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $96.35 million for 248 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.

Northland Securities doesn't advise any private funds.

Careers at Northland Securities, Inc.

The company employs 18 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 18 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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.

Randy Jon Lindrud has been acting as President since 1 Mar 2016. Michael John Grondahl joined the executive team most recently as the Managing Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Randy Gene Nitzsche	Ceo, president	1 Sep 2002	Other	1558954
Mark Lawrence Beese	Evp & director	1 Sep 2002	Other	1188765
Thomas Joseph Bartzen	Evp, muni principal, & director	1 Sep 2002	Other	1442989
Steven John Mattson	Evp & director	1 Sep 2002	Other	323310
John Randolph Larson	Secretary	1 Sep 2002	Other	4591587
Peter Fuller Glanville	Crop, & srop	1 Sep 2002	Other	1846062
Richard James Reynolds	Executive vice president	1 Oct 2002	Other	860220
Inc. Northland Capital Holdings	Direct owner	1 Jan 2004	75% - 100%	20-0222291
Timothy Scott Duffy	Cfo, treasurer, assistant secretary, fin-op	1 Apr 2004	Other	4757521
Jo Ann Zellmer	Chief compliance officer	1 Oct 2005	Other	2169167
Janie Sue Pedersen	Chief compliance officer	1 Jun 2008	Other	2176574
Steven J. Mattson Trust Uad 2/24/1994 Duane D. Peterson Ttee	Direct owner	1 Dec 2015	Other	81-6203575
Duane D. Peterson	Trustee	1 Dec 2015	Other	81-6203575
Randy Jon Lindrud	Director	1 Mar 2016	Other	1294955
John Mark Schumacher	Director	1 Mar 2016	Other	1520203
Dustin Richard Alden	Controller, fin op	1 Aug 2017	Other	6131554
Michael John Grondahl	Managing director	1 Nov 2017	Other	2961468

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc Abdo Consulting Group	Owner	1 Jan 2004	Other	41-1406515
Glen Albert Taylor	Owner	1 Oct 2004	25% - 50%	4864328

Based in Minneapolis

The principal office where Northland Securities, Inc. performs its advisory services is located at 150 South 5 Th Street, Minneapolis, MN 55402, which is also the mailing address of the firm. An additional office of the firm is in Milwaukee, WI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-851-2920 or by fax 612-851-5951. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at northlandsecurities.com.