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CRI Securities Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

CRI Securities, LLC is a fee-based firm located in St. Paul, Minnesota. This firm mainly earns its compensation from asset-based fees, hourly fees and fixed fees, but certain advisors also charge commissions for investment products and services.

The firm is both a registered investment advisor and a registered broker-dealer. It also mandates that its advisors meet at least one of the following requirements: (1) qualify as a certified financial planner (CFP), chartered financial analyst (CFA) or chartered financial consultant (ChFC); (2) pass the Series 65 or the Series 66 exams; or (3) meet state and firm registration requirements. While plenty of firms have advisors with these certifications, requiring it of all advisors is relatively rare.

CRI Securities Background

CRI has provided investment advisory and brokerage services since 2003. In addition to the previously mentioned advisor criteria, CRI also requires its professionals to be both registered representatives of the firm and licensed insurance agents for Minnesota Life Insurance Company. 

Minnesota Life Insurance Company owns 50% of CRI’s voting securities. Philip C. Richards owns the other 50%. CRI is also affiliated with Securian Financial Services, Inc. 

CRI Securities Client Types and Minimum Account Sizes

CRI Securities serves individuals, high-net-worth individuals, pension and profit sharing plans, charitable organizations and corporations. 

The firm’s minimum account sizes vary based on account type. For instance, the CRI Asset Allocation program has a minimum account size requirement of $50,000. Minimums can range from $500,000 to $2.5 million for the SEI Managed Account Solutions and Integrated Managed Account program. The SEI Distribution Focused Strategies program has minimums ranging from $50,000 to $100,000. 

Services Offered by CRI Securities

CRI Securities offers the following advisory services:

  • Financial planning
  • Portfolio management
  • Selection of other advisors
  • Educational seminars/workshops

CRI Securities Investment Philosophy 

CRI says it provides investment strategies and products that give clients diversified portfolios. The firm also fpcuses on long-term strategies, and it regularly employs modern portfolio theory and fundamental analysis. In developing customized target allocation strategies for clients, CRI will use margin transactions, short-term strategies and option writing. 

The firm invests in mutual funds, exchange-traded funds (ETFs), common and preferred stocks, fixed income investments, commercial paper, certificates of deposit (CDs), municipal securities and U.S. government securities.

Fees Under CRI Securities 

For financial planning services, CRI charges a maximum hourly rate of $500. Fees for seminar and educational services generally don’t exceed a fixed rate of $499 per person. The firm offers two different fee schedules for its standard portfolio management services: one for accounts opened before September 25, 2014, and the other for accounts opened after that date. We’ve listed those fee schedules below:

For accounts opened on or before September 25, 2014
Amount of assets Annual fee
First $500,000 1.75%
Next $1.5 million 1.10%
Next $1.0 million 0.90%
Next $1.0 million 0.70%
Next $1.0 million 0.45%
Over $5 million 0.20%

 

For accounts opened after September 25, 2014
Amount of assets Annual fee
First $500,000 1.75%
Next $1.5 million 1.10%
Next $1.0 million 0.90%
Next $1.0 million 0.70%
Over $4 million 0.50%

 

*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. Fee amounts are based on standard fee schedule for accounts opened after September 25, 2014.
Estimated Investment Management Fees at CRI Securities*
Your Assets CRI Securities Fee Amount
$500K $8,750
$1MM $14,250
$5MM $46,250
$10MM $71,250

Learn more about advisors' typical costs here.

What to Watch Out For

CRI has only one disclosure listed on its Form ADV; the SEC doesn’t specify the exact violation. One thing to note is that CRI advisors may earn additional compensation from mutual fund 12b-1 fees and other investment products. This could incentivize advisors to favor products with higher fees, but the firm says it mitigates any potential conflicts of interest by acting as a fiduciary. 

Opening an Account with CRI Securities 

If you’re thinking about investing with CRI, you can visit the firm’s office or call an advisor at (800) 820-4205.

All information is accurate as of the writing of this article.

Retirement Planning Tips for Beginners

  • It’s wise to plan for retirement before you reach retirement age. Our retirement calculator can help you determine just how much you’ll need to retire comfortably. 
  • Finding a financial advisor doesn’t have to be hard. SmartAsset’s free financial advisor matching tool connects you with up to three advisors in your area.

How Long $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.