Harbour Investments, Inc.
Harbour Investments, Inc. is a financial advisor firm with headquarters in Madison, Wisconsin. Harbour isn't a stand-alone operation, as it partners with independent financial advisor firms to provide them various advisory and business support services. So while you can't work directly with Harbour, you can work with one of the 180 or so independent advisors in its network.
Overall, this firm oversees a ton in assets under management (AUM). It works with a wide variety of firms, who, in turn, work with a broad array of clients. This is also a fee-based firm, as some of its advisors can receive commissions from securities sales.
Harbour Investments Background
Harbour Investments first opened back in 1987. Nick W. Sondel is the firm's principal owner, as well as its founder. The firm originally started as a broker-dealer and it still acts as one today. However, the firm has also continued to add independent advisors and firms to its network over the years, many of which have worked with Harbour for decades. Advisory certifications at this firm vary widely.
Harbour Investments Client Types and Minimum Account Sizes
Harbour Investments works with clients indirectly through its network of independent advisors and firms. Through these firms, the vast majority of its clients are individuals with less than a high net worth. Its network of advisors also works with high-net-worth individuals, pension and profit-sharing plans, charities, state and municipal governments, insurance companies and businesses.
Harbour tends to have a $5,000 minimum investment for its services. However, different advisors and programs may have separate minimums.
Services Offered by Harbour Investments
Harbour Investments provides business support to a network of independent financial advisor firms. They allow these advisors to access the benefits and tools of a large advisory firm, while still retaining their independence. Through the use of Harbour's services and their own, these advisors mainly provide clients with investment management, financial planning and consulting services.
Harbour Investments offers wrap fee programs that its network of advisors can use to manage clients' assets. The management of these accounts range from discretionary to limited discretionary and non-discretionary. Harbour recommends investment strategies to go along with these programs, though advisors have the ability to change things as well.
Harbour Investments Investment Philosophy
The investment philosophy at Harbour Investments will ultimately depend on which investment advisor or firm you choose to work with. However, in every one of Harbour's sponsored programs, advisors look to the individual needs and objectives of each client to develop an investment strategy that works for them.
Since the advisors who work with Harbour are all independent, there isn't one overarching investment strategy that reigns over others. For example, some advisors may use fundamental analysis, whereas others may focus on technical analysis. Different advisors use different investing styles and time horizons too.
Fees Under Harbour Investments
Clients who use Harbour Investments' financial planning and consulting services are charged either a flat or hourly fee. Hourly fees range from $50 to $300 per hour, while fixed fees typically fall somewhere between $200 to $2,500.
Investment management fees, on the other hand, are determined on a case-by-case basis. Different advisory firms may have different fee schedules, so it's important to understand how a specific advisor will charge you before you hand your money to them.
What to Watch Out For
Harbour Investments has one regulatory disclosure listed on its Form ADV. This disclosure is related to an issue from 2018 where the firm failed to fully disclose third-party compensation it was receiving from an outside broker-dealer. As a result of this finding, the SEC fined Harbour $75,000. The firm also submitted to censure, a disgorgement of $157,327 and a cease-and-desist order.
Some of the advisors associated with Harbour are also registered as broker-dealer representatives. In this role, these advisors may be able to earn commissions for specific products they sell to clients. While this creates a potential conflict of interest, the firm's fiduciary duty requires it to act in clients' best interests at all times.
Opening an Account With Harbour Investments
You cannot open an account directly with Harbour Investments, but you can work with one of its partnered advisors. To find an option near you, go to Harbour's website and submit a contact form. You can also call the firm at (608) 662-6100.
All information is accurate as of the writing of this article.
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