FL Group recommends third-party investment managers to clients. FL Group gathers client information and objectives to recommend suitable managers. FL Group monitors the performance of the third-party managers. FL Group receives referral fees from the third-party managers and acts as a liaison between the client and the manager, providing ongoing services such as updating the manager with client changes and reviewing statements.
Fee Structure
FL Group refers clients to Gradient Investments, LLC, a third-party manager. The fees are based on a percentage of the assets managed by Gradient Investments. FL Group receives a portion of the fee, and Gradient Investments receives the other portion. The total fee ranges from 1.00% to 2.00% depending on the portfolio type. There is also a $15 quarterly service fee. These fees are negotiable.