Envoi LLC (Minneapolis)


Envoi LLC is a large advisory firm based in Minneapolis. It manages $1.69 billion of regulatory assets for 1,011 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of California, Florida, Illinois, and Minnesota.

Envoi provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Envoi: assets under management

The assets under management (AUM) of Envoi LLC is $1.69 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 706% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.69 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.67 million each.
Envoi has custody of $1.38 billion in cash and securities for 41 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 38% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 18% of the firm’s portfolio. Investments in investment and business development companies form 14% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Envoi LLC for their services and products based on a percentage of assets under management. 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 Envoi serves?

The firm provides services to charitable organizations and high net worth individuals. The largest group of clients of Envoi is high net worth individuals with 33 clients and $1.65 billion of assets under management. Among the 10 most similar advisory firms, Envoi has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.69 billion for 41 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.

Envoi doesn't advise any private funds.

Careers at Envoi LLC

The company employs 13 people that are either part- or full-time employees. 77 percent of the employees work as investment advisers or researchers. 8 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 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.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Brenda Bouley Sallstrom Chief investment officer,governor,common member,principal 1 Dec 2008 25% - 50% 1313102
James Allen Sand President, governor,common member,principal 1 Dec 2008 25% - 50% 4002578
Ryan David Steensland Treasurer,governor,common member,principal 1 Dec 2008 25% - 50% 2529231
Gordon Fairchild Stofer Preferred member 1 Dec 2008 Other 1514353
Adam Smith Companies Llc Preferred member 1 Dec 2008 Other 41-1839191
Llc Inviato Common member 1 Apr 2009 Other 26-4244439
Bradley Jay Brunell Chief compliance officer, secretary 1 Sep 2012 Other 6179156

Indirect Owners

The SEC currently registers 1 indirect owner.

Name Entity Date acquired Ownership Employer ID
Anton Joseph Christianson Member 1 Mar 1997 75% - 100% 1305752

Based in Minneapolis

The principal office where Envoi LLC performs its advisory services is located at 600 Highway 169 South, Minneapolis, MN 55426, which is also the mailing address of the firm. An additional office of the firm is in Chicago, IL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 952-358-6260 or by fax 952-358-6299. The normal business hours are 8:30 - 4:30 on Monday - Friday. You can find more information about the New York firm at envoillc.com.