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Santander 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.

Santander Securities (also known as Santander Investment Services), is a financial advisor firm that works with thousands of clients. Altogether, this client base holds billions of dollars in investable assets. While the firm is heavily focused on general investing services, a variety of financial planning offerings are also available. Headquartered in Dorchester, Massachusetts, Santander Securities has branches and advisors throughout the Northeastern U.S., as well as in Florida.

Santander Securities is a fee-based firm, meaning advisors may earn commissions in addition to advisory fees that clients pay. These commissions come from the sale of certain insurance products and the trading of specific securities. This is different from a fee-only firm, which earns income exclusively from advisory fees.

Santander Securities Background

Santander Securities was established in 1996, though it has only been registered with the U.S. Securities & Exchange Commission (SEC) since 1999. The firm is a subsidiary of Santander Holdings USA, Inc., the same holding company that owns Santander Bank, a well-known banking institution that primarily operates in New England, the Mid-Atlantic and the Northeast at large.

The staff at this firm includes chartered financial analysts (CFAs), certified anti-money laundering specialists (CAMSs) and certified financial planners (CFPs).

Santander Securities Client Types and Minimum Account Sizes

Santander Securities advises a range of different clients, though most of its client base is comprised of individuals below the high-net-worth threshold. Other clients the firm commonly works with include charitable organizations, corporations and trusts.

Many of Santander Securities' services do not have an associated minimum, but some do. They go as follows:

  • CLS Unified Managed Account Program: $25,000
  • Fund Strategist Programs: $50,000
  • Separately managed accounts (SMAs): $250,000
  • Digital Advice Program: $2,000

Services Offered by Santander Securities

Santander Securities furnishes clients with various advisory services, including financial planning services and wrap fee investment management programs. The firm's financial planning services involve:

  • Cash flow analysis
  • Budget planning
  • Insurance needs analysis
  • Asset allocation planning
  • College fund planning
  • Retirement planning
  • Estate planning
  • Accumulation planning

The multitude of investment management programs available through Santander Securities are technically provided through third-party firms, including 12 mutual fund-centric programs that are sponsored by Envestnet Asset Management, Inc. Also available through the firm are SMAs and unified managed accounts (UMAs).

Santander Securities Investment Philosophy

When making recommendations as to which programs are best suited for a particular client, Santander Securities' advisors will take many factors into account. In fact, the firm prioritizes each client’s short- and long-term financial objectives and risk tolerance. It will then create an asset allocation plan that focuses on sustainable growth to determine which program is appropriate.

As your portfolio ages, Envestnet will continually review how your investments are performing. If it determines it to be necessary, the firm may also rebalance your portfolio to fit the originally intended asset allocation. Security selection generally varies by program, but there appears to be a focus on mutual funds.

Fees Under Santander Securities

Santander Securities clients participating in wrap-fee investment management programs via Envestnet will generally pay a percentage of their assets under management (AUM). The exact percentage you'll pay varies from 0.87% to 1.67%. What rate you receive will depend on the size of your account, the investment strategy you choose and the nature of the services you require.

If you are a client of Santander Securities, you won't need to pay anything extra to take advantage of its financial planning offerings.

What to Watch Out For

Based on the information in its SEC-filed Form ADV, Santander Securities has 20 disclosures on its legal and regulatory record. Some of these disclosures apply to advisory affiliates of the firm, while others apply to the firm itself.

As we mention above, Santander Securities is a fee-based firm, as certain advisors may earn commissions for selling certain mutual fund shares in their separate capacity as a registered representative of a securities broker-dealer. In addition, some advisors may sell certain insurance products on a commission basis. While this incentive represents a conflict of interest, Santander Securities is a fiduciary and therefore has a legal obligation to act in your best interest at all times.

Opening an Account With Santander Securities

If you’d like to get in touch with an advisor at Santander Securities, there are two primary ways to do so. You can either call the firm’s toll-free number at (866) 736-6475, or you can visit the firm’s website to find a Santander advisor near you.

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

Tips to Improve Your Investments

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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