Turning Point Financial, LLC (2022)

CRD#288911

Investment Advisor Firm

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Overview

Turning Point Financial, LLC operates as a financial advisor firm located in Sidney, Nebraska. The company administers $10.6 million in assets over 60 accounts. The company has a small team of one employee who is a financial advisor. Turning Point Financial, LLC is not a registered broker-dealer, meaning it is not able to buy and sell securities for its own accounts as well as its customers' and instead must go through a broker-dealer firm to do so. Securities are defined as tradable fiscal investments like options, equities and bonds.

Turning Point Financial, LLC administers all of the firm's accounts on a discretionary basis. Discretionary management means that an investment advisor makes buy and sell choices without needing client consent. Turning Point Financial, LLC's typical account size is $176,919. Under $100,000 of their investments for financial planning services were in securities, with under $100,000 placed in non-securities. The typical financial advisor at Turning Point Financial, LLC administers about 60 client accounts, placing it towards the middle in terms of personalization.

The firm's main office is located at 1037 12Th Ave., Sidney, Nebraska 69162. Turning Point Financial, LLC is registered to serve clients in the state of Nebraska.

Assets Under Management

$10.6 million

Number of Advisors

1

Disclosures

No

Office Location

1037 12Th Ave.

Sidney, NE 69162

Turning Point Financial, LLC by the Numbers

Turning Point Financial, LLC (1)

Total Assets Under Management

$10.6 million

National Average: $9.0 billion

Turning Point Financial, LLC (3)

Total Number of Accounts

60

National Average: 4,329

Turning Point Financial, LLC (4)

Average Account Size

$176.9 thousand

National Average: $2.1 million

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Products and Services

Turning Point Financial, LLC offers multiple services, which can include financial planning services, portfolio management for individuals and small businesses, selection of other advisers and educational seminars. In the prior financial year, the firm provided 1-10 of its customers with financial planning services. The company does not sell products or offer services aside from investment advice to its investment advisory accounts. Turning Point Financial, LLC is affiliated with one or more other service providers in the financial services industry, including with an accountant or accounting firm.

Core Advisor Services

  • Offered by 31% of firms

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 47% of firms

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 21% of firms

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    This is the publication of various financial education materials.

  • Offered by 7% of firms

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Financial management fees typically are based on the type of financial services offered. However, fee types billed by the firm may include some blend of the following fee structures: asset-based or hourly. The firm does not supply a wrap fee program, in which the firm offers a service bundle for a single fee. Turning Point Financial, LLC has the ability to withdraw its fees directly from client funds.

Available

  • Offered by 70% of firms

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 21% of firms

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

Unavailable

  • Find one of the 1% of firms that offer this fee type

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 33% of firms that offer this fee type

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

  • Find one of the 10% of firms that offer this fee type

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

The company works with retail investors, high net worth investors and pension plans. Out of its 60 customers, Turning Point Financial, LLC's biggest client type is retail investors, although it also caters to two high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 in AUM or a net worth of more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its customers are from outside of the U.S.

  • High-Net-Worth Individuals* - 4.44%
  • Other Individuals - 93.33%
  • Corporations - 2.22%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Turning Point Financial, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Turning Point Financial, LLC

Jeffrey Jung
Sidney, NE

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The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data compiled from the SEC and FINRA. To report any data inconsistencies or errors, please contact profile-compliance@smartasset.com.

The named financial professional and firm have not reviewed, approved, or endorsed this profile and are not responsible for its accuracy. Profile content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named financial professional and firm, and financial professionals and firms having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s profiles.

This profile may include a firm or advisor that has a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. SmartAsset is not a client of the aforementioned firms or advisors. SmartAsset did not receive compensation for including any of the firms or advisors in the aforementioned profile.

This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the advisor or firm mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor).

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

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