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Nations Financial Group 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.

Nations Financial Group, Inc. is a financial advisory firm with its main office located in Cedar Rapids, Iowa. This firm is an advisor network that provides resources to independent financial advisors. As such, it does not work directly with clients. The advisors at Nations Financial Group manage billions in assets under management (AUM).

This is a fee-based firm, as advisors in the network collect compensation from the sale of specific insurance products or securities. That's in contrast to a fee-only firm, whose compensation comes only from client-paid fees.

Nations Financial Group Background

Nations Financial Group has been in business since 1999. NFGI Holding Corporation is the firm's direct principal owner. President and CEO Richard Scott Bennett owns NFGI Holding Corporation, making him the indirect owner of Nations.

Nations Financial Group Client Types and Minimum Account Sizes

Of the firm's clients, the vast majority are non-high-net-worth individuals. The rest are a mix of high-net-worth individuals, retirement plans, charities and corporations. 

Nations Financial Group typically imposes a minimum investment amount of $25,000. However, minimum requirements are ultimately determined by each individual advisor and can reach up to $250,000. Minimums may be waived under certain circumstances.  

Services Offered by Nations Financial Group

Nations Financial Group's advisors offer a range of financial services, including investment portfolio management, model portfolios and financial consulting. When it comes to portfolio management, advisors manage assets on both a discretionary and non-discretionary basis. All services are tailored to the individual needs and preferences of each client, including their risk tolerance, time horizon, income needs and more.

Nations Financial Group Investment Philosophy

Because the Nations Financial Group is a network of independent financial advisors, there isn't a specific investment philosophy that all advisors adhere to. However, there are several risk-adjusted model strategies that clients can take advantage of.

While advisors may invest in a wide range of securities, strategies tend to involve stocks, bonds, options, variable annuities, exchange-traded funds (ETFs) and mutual funds. Additionally, advisors take into account the financial objectives of clients when creating their asset allocations.

In evaluating investment opportunities, advisors typically employ fundamental, technical and statistical analyses of historical data. In putting together client portfolios, there's a significant emphasis on asset allocation planning, but advisors pursue a range of investment strategies like long- and short-term purchases, trading, short sales, margin transactions and option-writing.

Nations Financial Group Fees

Fees under Nations Financial Group for advisory services are negotiable and vary from client to client. When it comes to the fees that Nations Financial Group's network of advisors charges for its services, they are divided between those within its wrap fee program and those that aren't. Non-wrap fee annual charges can go as high as 2%, while Nations' wrap fee programs incorporate higher fees that are capped at 2.50% annually.

Clients pay all fees to Nations directly, not their individual advisors. Fees are calculated and billed on a quarterly basis. 

Learn more about advisors' typical costs here.

What to Watch Out For

Nations Financial Group's legal and regulatory record is free of any disclosures of legal or disciplinary action at the time of this writing.

Again, Nations Financial Group is a fee-based financial advisory firm, meaning some advisors earn commissions for securities and insurance sales. This is a potential conflict of interest. That said, the advisory is bound by its fiduciary duty to act in the best interests of clients at all times.

Opening an Account With Nations Financial Group

To open an account with Nations Financial Group, go to the firm's website and submit a contact form, and an advisor will reach out to you. Or you can call the firm's toll-free number, (800) 351-2471.

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

Tips for Finding the Right Financial Advisor for You

  • Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Ask prospective advisors how much liability insurance they have. The right answer should cover how much you plan on putting in the advisor’s hands. So if they say $25,000 per incident and you have $50,000 to invest, you may want to move on to the next candidate.

How Long $1mm 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.

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

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then 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 the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. 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.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research