Truenorth Financial Services, LLC (Seattle)

Name: Truenorth Financial Services, LLC
Address: 1200 Fifth Avenue, Suite 1810, Seattle, WA, 98101
Telephone: (206-652-4314

Truenorth Financial Services, LLC is a large advisory firm based in Seattle. It manages $112.22 million of regulatory assets for 346 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdiction of Washington.

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

Truenorth Financial Services: assets under management

The assets under management (AUM) of Truenorth Financial Services, LLC is $112.22 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 224% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $112.22 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $324.34 thousand each.

Truenorth Financial Services has custody of $59.79 million in cash and securities for 106 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Truenorth Financial Services, 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 Truenorth Financial Services serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Truenorth Financial Services is high net worth individuals with 49 clients and $90.48 million of assets under management. Among the 11 most similar advisory firms, Truenorth Financial Services has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $112.22 million for 103 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 3% of the firm’s clients are foreign persons or businesses.

Truenorth Financial Services doesn't advise any private funds.

Careers at Truenorth Financial Services, LLC

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone 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
Karen Ruth O'brien	Chief compliance officer, managing member	1 Jan 2006	50% - 75%	4492812
Joseph Thomas Hebert	Managing member	1 Jan 2006	25% - 50%	4548024
Karen R. O'brien	Chief compliance officer	1 Jan 2006	25% - 50%	4492812
Joseph T. Hebert	Partner	1 Jan 2006	25% - 50%	4548024
Therese Mary Govern	Managing member	1 Apr 2008	Other	4739640
Truenorth Wealth Advisors	Member	1 Apr 2019	Other	118273

Based in Seattle

The principal office where Truenorth Financial Services, LLC performs its advisory services is located at 1200 Fifth Avenue, Suite 1810, Seattle, WA 98101, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (206-652-4314 or by fax 206-652-4316. The normal business hours are by appointment on Monday - Friday. You can find more information about the New York firm at linkedin.com/company/truenorth-wealth-advisors.