Independent Service Co Inc (Minneapolis)

Independent Service Co Inc is a large advisory firm based in Minneapolis. It manages $395.54 million of regulatory assets for 951 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Iowa, Minnesota, and Wisconsin.

Independent Service provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Independent Service: assets under management

The assets under management (AUM) of Independent Service Co Inc is $395.54 million. The firm's AUM has grown by 120% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $195.83 million in discretionary accounts and $199.71 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $262.51 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $974.19 thousand.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Independent Service Co Inc for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

Careers at Independent Service Co Inc

Robert Noble Prentiss has been acting as President since 1 Apr 1996. Llc Wayne Creek Companies joined the executive team most recently as the Shareholder.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Anthony Dennis Albright	Vice president	1 Apr 1996	25% - 50%	2056092
Richard John Murray	Chief financial officer	1 Apr 1996	25% - 50%	1107727
Robert Noble Prentiss	President	1 Apr 1996	25% - 50%	2149316
Inc. Mesa Financial Advisors	Majority share holder	1 Apr 2005	75% - 100%	20-2614986
Anthony Dennis Albright	Managing director	1 Apr 2005	Other	2056092
Richard John Murray	Managing director	1 Apr 2005	Other	1107727
Robert Noble Prentiss	Chief compliance officer	1 Apr 2005	Other	2149316
Anthony Dennis Albright	Managing director and chief compliance officer	1 Dec 2006	Other	2056092
Llc Wayne Creek Companies	Shareholder	1 Jun 2010	75% - 100%	27-2189851

Indirect Owners

The SEC currently registers 5 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
L. Edward Baker	Shareholder	1 Feb 1999	75% - 100%	1943143
Llc Mesa Holdings	Shareholder	1 Apr 2005	75% - 100%	20-2173722
Inc. Mesa Holdings	Shareholder	1 Apr 2005	75% - 100%	20-2173722
Baker Capital Llc	Shareholder	1 Nov 2007	25% - 50%	41-1955119
Peter Frechette	Member	1 Mar 2010	75% - 100%	5849629

Based in Minneapolis

The principal office where Independent Service Co Inc performs its advisory services is located at 7760 France Avenue South, #270, Minneapolis, MN 55435 4484, which is also the mailing address of the firm. An additional office of the firm is in Albert Lea, MN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 952-835-1560 or by fax 952-835-1745. The normal business hours are 8:00am - 5:00pm on Monday - Friday.