How We Work

Finding a financial advisor; understanding the services or products they offer; and figuring out how they are compensated is a tall order for anyone not in the financial industry. So we want to make sure you understand how we do business and are compensated.

Registered Investment Advisor
Robert Steffen and Associates has been providing independent fee-only financial planning services since 1987. We operate as a Registered Investment Advisor (RIA) and are regulated by the Federal Securities Exchange Commission and the State of Minnesota. As an RIA, we provide our clients with individualized financial advice and guidance. We do not sell investment products that charge a commission. On occasion, we will recommend a financial or insurance product to a client when it is the best solution for their financial strategy but we will never receive a commission or payment for doing so.

Fiduciary
We maintain a fiduciary relationship with our clients. As a fiduciary, we are duty-bound to place the interests of our clients before our own. That means that we would never recommend anything that would benefit us more than our client. If we find ourselves in a situation where we feel we may have a conflict of interest, as a fiduciary we will inform our client of any conflict so they can take that into consideration when making a decision.

Clients Control Their Accounts
You maintain complete control over your investments. We will provide you with trade and allocation recommendations but we do not proceed until you give us approval to do so. Furthermore, our client accounts are held at TD Ameritrade which provides online access and sends out regular account statements.

How We Charge for Our Services
We charge for our services based on the assets that we are manage for our clients and the level of service provided. Our average annual management fee is currently .5% of assets under management but that amount can be a bit more or less depending on the level of service a client desires or their situation requires. Every three months, one quarter of the annual fee is calculated based on the current asset level and is then collected, in most cases, from the client’s investment accounts.

More Information
For more information, please review the documents on our Disclosure page.

Questions?

Listen with Curiosity. Speak with Honesty. Act with Integrity. – Roy T. Bennett