Northwest Wealth Management, LLC (Spencer)

Name: Northwest Wealth Management, LLC
Address: 705 N. Grand Avenue, Spencer, IA, 51301
Telephone: 712-580-4100

Northwest Wealth Management, LLC is a large advisory firm based in Spencer. It manages $476.06 million of regulatory assets for 3,222 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Arizona, California, Colorado, and 11 other states.

Northwest Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Northwest Wealth Management: assets under management

The assets under management (AUM) of Northwest Wealth Management, LLC is $476.06 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 580% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $476.06 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $147.75 thousand each.

Northwest Wealth Management has custody of $14.08 million in cash and securities for 14 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 57% of the total AUM. The second-largest asset type is exchange traded securities, which make up 26% of the firm’s portfolio. Investments in investment grade corporate bonds form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Northwest Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, 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 Jeff Plagge 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 Jeff Plagge is individuals with 1,584 clients and $233.23 million of assets under management. Among the 7 most similar advisory firms, Northwest Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $476.06 million for 1,747 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.

Northwest Wealth Management doesn't advise any private funds.

Careers at Northwest Wealth Management, LLC

The company employs 26 people that are either part- or full-time employees. 65 percent of the employees work as investment advisers or researchers. 20 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Jeff Plagge has been acting as President since 1 Jun 2015. Eric Joel Van Der Heide joined the executive team most recently as the President, Chief Operating Officer, Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
John Gerard Lauer	President and chief compliance officer	1 Dec 2009	Other	1467522
Northwest Financial Corp.	Sole managing member	1 Dec 2009	75% - 100%	42-1325482
Ronald Roger Adams	Vice-president	1 Dec 2009	Other	5750095
Cornelius Burroughs Conover Iv	Secretary-treasurer	1 Dec 2009	Other	5750094
Cornelius Burroughs Conover	Secretary-treasurer	1 Dec 2009	Other	5750094
Eric Vanderheide	Chief compliance officer	1 Jun 2015	Other	6511174
Jeff Plagge	President	1 Jun 2015	Other	6511175
Eric Joel Van Der Heide	President, chief operating officer, chief compliance officer	1 Apr 2016	Other	6511174
Jeff Plagge	Vice president	1 Apr 2016	Other	6511175

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Dwight Conover	Shareholder	1 Dec 1988	25% - 50%	1854657
Cornelius Burroughs Conover Iv	Shareholder	1 Dec 1988	25% - 50%	5750094
Cornelius Burroughs Conover	Shareholder	1 Dec 1988	25% - 50%	5750094

Based in Spencer

The principal office where Northwest Wealth Management, LLC performs its advisory services is located at 705 N. Grand Avenue, Spencer, IA 51301, which is also the mailing address of the firm. An additional office of the firm is in Omaha, NE. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 712-580-4100 or by fax 712-580-4188. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at invest-northwest.com.