Eide Bailly Advisors is a financial advisor firm with over a billion dollars in client assets under management (AUM). Its principal office is in Fargo, North Dakota. The firm's investment advisors manage accounts, both discretionary and non-discretionary, as well as offer financial planning, pension consulting and portfolio managment.
As a fee-based operation, certain on-staff advisors at Eide Bailly can earn commissions from the sale of insurance, in addition to client-paid fees. This differs from a fee-only firm that only earns compensation from client fees.
Eide Bailly Advisors Background
Eide Bailly Advisors, LLC has been registered with the Securities and Exchange Commission (SEC) since September 2005. It is wholly owned by Eide Bailly Financial Services, LLC, which is wholly owned and operated by Eide Bailly, LLP. Jeremy Hauk serves as managing partner and CEO.
Beyond its headquarters in Fargo, the firm has branches across dozens of U.S. states.
Eide Bailly Advisors Client Types and Minimum Account Sizes
Eide Bailly Advisors generally advises the following types of clients:
- Non-high-net-worth individuals
- High-net-worth individuals
- Pension and profit-sharing plans, qualified retirement plans, 403(b) plans
- Trusts, estates or charitable organizations
- Corporations or businesses
At this firm, specific sub-advisors and affiliate programs do have minimum account sizes that range from $10,000 to $250,000.
Services Offered by Eide Bailly Advisors
Eide Bailly provides a comprehensive range of wealth planning services designed to help individuals and families achieve long-term financial objectives. Their wealth planning includes guidance on investment strategies, asset allocation, risk management, retirement, and estate planning, as well as tax strategies. Clients can receive standalone or ongoing wealth planning, and while recommendations are typically general in nature, they focus on helping clients understand their overall financial picture.
In addition to wealth planning, Eide Bailly offers personalized asset management services. These services involve creating and monitoring investment strategies based on each client's risk tolerance and goals. The firm continuously manages accounts, making trades as necessary, and offers the option of using sub-advisors for specific strategies. Clients can also receive advice on qualified retirement plans, including 401(k)s and profit-sharing plans, as well as one-time consultations on various financial topics.
The firm may refer clients to third-party money managers, who are responsible for continuously monitoring client accounts and making trades when necessary. Additionally, the firm offers advisory services for qualified retirement plans, as well IRA rollovers.
Eide Bailly Advisors Investing Philosophy
Eide Bailly’s investment philosophy centers around a strategic asset allocation approach, designed to balance risk and reward in a client’s portfolio. This method involves diversifying investments across four main asset classes: equities, fixed income, alternatives and cash equivalents. Each asset class has a different level of risk and return, and Eide Bailly apportions investments based on a client’s goals, risk tolerance and time horizon. The firm periodically rebalances portfolios to maintain this balance, ensuring long-term objectives are met.
The firm also incorporates academic principles, such as Modern Portfolio Theory (MPT), which focuses on maximizing returns relative to the amount of risk taken. Additionally, the firm employs quantitative methods, such as regression and holdings-based analysis, to evaluate asset performance. With a combination of long-term and short-term strategies, Eide Bailly crafts personalized investment plans that adapt to each client's evolving financial needs.
Fees Under Eide Bailly Advisors
Standard annual asset management fees also depend on the nature, size and complexity of the client's account. They are charged as a tier percentage and range from 0.25% to 1.15% of the AUM. Percentage fees are charged quarterly in advance based on the fair market value of the account at the end of the previous quarter.
Fees for written financial plans and consultations are charged hourly at a rate of $300 per hour, although a minimum fee of $5,000 applies. However, if the client has more than $1 million in AUM with the firm, Eide Baily waives the first 20 hours' worth of wealth planning and consultation fees.
Fees for retirement plan advisory services are negotiated based on certain variables: asset size, account size, number of employees, complexity of the plan investment options selected by the sponsor and the level of the services agreed upon.
If clients work with a third-party money manager or sub-advisor, the actual fee charged will vary depending on the sub-advisor and the selection of services that the client uses, but the portion retained by Eide Bailly as solicitor fees or consulting fees will not exceed 2%. Fees are calculated and deducted directly from the client's custodial account.
What to Watch Out For
Eide Bailly Advisors does not have any disclosures on its SEC-filed Form ADV. You can view its latest Form ADV on the official website of the Securities & Exchange Commission (SEC).
It is important to note that advisors at Eide Bailly Advisors may also be insurance agents. Employees acting in these roles generally receive transaction-based fees, which can be a potential conflict of interest. That said, as an SEC-registered investment advisor, the firm is legally obligated to uphold its fiduciary duty and work in clients’ best interests at all times.
Opening an Account With Eide Bailly Advisors
To open an account with Eide Bailly, you can visit the firm's website or call (866) 740-4100.
All information is accurate as of the writing of this article.
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