Top Financial Advisors in Minnesota

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Choreo is a fee-based advisory firm that serves both high-net-worth individuals and non-high-net-worth individuals, as well as retirement plans, charities, insurance companies and businesses.

Clients are charged a percentage of assets under management, which generally does not exceed 1.5% annually.

As a fee-based firm, certain advisors at Choreo can sell financial products on a commission basis. While this presents a potential conflict of interest, the firm’s fiduciary duty requires them to act in the clients’ best interests.

Choreo Background

Headquartered in Minneapolis, Choreo has 39 locations nationwide, with more than 185 teammates serving clients.

The firm was founded in 2000 and is registered with the U.S. Securities and Exchange Commission (SEC) as an investment advisor.

Choreo Investment Strategy

As with other firms, Choreo says that it makes financial recommendations based on a client’s objectives, risk tolerance and time horizon, among other considerations.

The firm offers clients a variety of services, including financial planning, investment management, estate planning, charitable planning and tax planning.

Investments commonly used by Choreo include individual stocks, bonds, U.S. Treasuries, certificates of deposit (CDs), ETFs, exchange-traded notes, closed-end funds, mutual funds, private pooled investment vehicles, structured notes and alternative investments.

Fiduciary Counselling (FCI) is a St. Paul-based financial advisor firm. The fee-only firm works with both non-high-net-worth and high-net-worth investors. It also does some institutional business, advising investing companies, charitable organizations, investment advisors and corporations.

The firm does not list a minimum investment, but has a minimum annual fee of $1,000.

FCI charges a single fee for investment advisory, accounting, tax, estate planning, financial planning, and trust and charitable administration services. This fee is based on a percentage of assets under management. Hourly fees may be charged for other services.

Financial Counselling Background

Financial Counselling was founded in 1941. The principal owner of the firm is M. Julie McKinley, who also serves as the company’s president and CEO.

Services offered by the firm include discretionary and non-discretionary investment services, accounting, tax and trust services, retirement planning and estate planning.

Financial Counselling Investment Strategy

Advisors at FCI develop an individual portfolio strategy for each client. That said, it has a number of model portfolios it uses as a base when developing each client’s strategy. Customized models are used in some situations when a client’s situation has a number of unusual needs.

The asset allocation model focuses on long-term investing. Potential investments for clients include equities, fixed-income securities, exchange-traded funds (ETFs), mutual funds, private funds and private equity funds.

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Mairs & Power is a fee-only firm that works primarily with high-net-worth individuals, though it also serves individuals without a high net worth. Institutional investors include trusts, investment companies, pension and profit-sharing plans, charitable organizations, government entities, insurance companies and businesses.

Account requirements depend on the type of account you open. But you'll need at least $2 million or $5 million. The firm, hoever, may waive these minimums at its discretion.

The advisory team holds multiple certifications, including chartered financial analysts (CFAs) and chartered insurance counselors (CICs).

Mairs & Power Background

George Mairs, Jr. founded Mairs & Power in 1931, and George Power, Jr. joined it in 1946. The firm is entirely employee-owned.

Mairs & Power offers investment management and financial planning services. It has made a name for itself as a regional investor. Investment management fees are generally asset-based, though the firm may negotiate performance-based or fixed fees.

For accounts that are especially complex or need extra administrative support, the practice may require additional fees.

Mairs & Power Investing Strategy

Mairs & Power takes a long-term approach to investing. It puts an emphasis on companies with consistent and above-average growth. It also looks for those that have strong returns on invested capital and durable competitive advantages. Also, it says that it invests in companies, not markets, and considers companies of all sizes and across all sectors. The firm generally designs and manages equity, fixed income and balanced portfolios.

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Focus Financial Network (FFN) is a fee-based advisory firm that serves both high-net-worth individuals and non-high-net-worth individuals. Institutional clients include retirement plans, charities and businesses.

Clients engaging in investment management are charged a percentage of assets under management. Smaller accounts generally pay a higher annual percentage, while larger accounts get charged a smaller fee.

As a fee-based firm, certain advisors at FFN can sell financial products on a commission basis. This can present a potential conflict of interest, but the firm’s fiduciary duty mandates that client interests are put first.

Focus Financial Network Background

Headquartered in Minneapolis, FFN offers financial planning, insurance planning, retirement planning, asset management and business planning services.

The firm was founded in 1993. According to its brochure, FFN is owned by several individuals. None of these individuals own a share that is greater than 20%.

Focus Financial Network Investment Strategy

When putting a financial strategy together, FFN says that it considers financial goals and objectives, time horizon, risk tolerance, cash flow analysis, cost of living needs, education needs and savings tendencies, as well as other financial information.

Investments commonly used by FFN include a mix of stocks, bonds, options, exchange-traded funds, mutual funds and other securities.

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Riverbridge is a fee-based firm that works with high-net-worth individuals, banks, investment companies, pooled investment vehicles, retirement plans, charities, government entities, insurance companies, businesses and Taft-Hartley plans.

Riverbridge is also featured in SmartAsset’s list of the top financial advisor firms in Minneapolis. Its team has quite a few advisors with certifications. If you choose to begin a client relationship with Riverbridge, you’ll find chartered financial analysts (CFAs), certified financial planners (CFPs), certified public accountants (CPAs) and chartered financial consultants (ChFCs).

Riverbridge Background

Riverbridge was founded in 1987. Currently, Northill Capital Group is the majority owner. Several employees also have stakes. 

This firm offers investment portfolio models that are designed to succeed in different ways, depending on your financial objectives. These models range from small-cap growth to growth and income portfolios. Each portfolio varies in the number of companies it invests in and its time horizon.

Riverbridge Investing Strategy

When choosing specific investments for your portfolio, Riverbridge Partners evaluates each company based on five factors: sound culture and management, strong unit growth, differentiated market position, internally financed growth and conservative accounting. The firm believes that these factors provide strong insight into whether a company has earnings power and intrinsic value.

Once the firm has found enough suitable investments and begins to piece together your portfolio, it will generally look to do so with small- and mid-capitalization companies. At any one point in time, though, Riverbridge prefers to have all of your assets fully invested, regardless of any need for liquidity. The firm estimates that its portfolios will have 30% turnover annually.

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NorthRock Partners is a large advisory firm that works with both high-net-worth and non-high-net-worth individuals, as well as charities and businesses.

While the firm doesn't have a minimum asset requirement for new clients, it does have a $5,000 minimum annual fee.

The advisory team at NorthRock holds a range of certifications that include certified financial planner (CFP), certified private wealth advisor (CPWA) and chartered financial analyst (CFA), among other certifications.

This team also has members who can sell insurance products on a commission basis. While this presents a potential conflict of interest, the firm's fiduciary duty means it must act in clients' best interests.

NorthRock Partners Background

NorthRock Partners was founded back in 2013 and is owned by principals Rob Nelson and Todd Moser.

This firm has a wide range of advisory services that it offers to clients. In fact, these services cover things like retirement planning, investment management, tax prep and advice, estate planning, insurance planning, charitable gift planning and more.

NorthRock Partners Investing Strategy

Before investing a dime of any client's assets, the advisory team at NorthRock Partners will work with them on an individual basis to determine exactly what kind of investor they are. This conversation will allow your NorthRock advisor to build a portfolio plan that can help you achieve your long- and short-term financial goals. 

Some of the most important factors the firm pays attention to include risk tolerance, time horizon, income needs and liquidity.

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intellicents investment solutions does not require clients to adhere to a minimum investment requirement. This has led the firm's individual client base to feature a nearly even split between individuals with and without a high net worth. Pension and profit-sharing plans are also clients of intellicents.

The advisory team holds a wide range of certifications. These include chartered financial analyst (CFA), certified financial planner (CFP), accredited investment fiduciary (AIF), certified long-term care (CLTC), chartered retirement plans specialist (CRPS) and more.

intellicents is a fee-based firm, which means its advisors can sell insurance products and securities on a commission basis. Despite the potential conflict of interest this creates, the firm's fiduciary duty means it must act in clients' best interests at all times.

intellicents investment solutions Background

intellicents investment solutions was founded in 1996. CEO Bradley K. Arends and president Grant S. Arends own the firm.

While many might know intellicents for its retirement plan consulting services, it also has offerings for individual investors. This includes both investment management and financial planning.

intellicents investment solutions Investing Strategy

Generally speaking, intellicents investment solutions prefers to invest with long-term returns in mind. It follows this by keeping to the tenets of a "buy and hold" strategy, which means it doesn't trade securities all that often. However, the firm will adjust your investment portfolio and asset allocation when your situation, goals or market conditions change.

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Envoi has less than 50 high-net-worth individuals and charitable organizations as clients. And while this fee-only firm doesn't require a minimum asset level, it does charge a $150,000 annual fee. 

The firm also offers services to legal entities, revocable and irrevocable trusts, family businesses, family partnerships and family-owned charitable organizations. 

There are advisors with certifications like chartered alternative investment analyst (CAIA), chartered financial analyst (CFA), certified public accountant (CPA) and certified financial planner (CFP) working here.

Envoi Background

Founders Brenda Sallstrom, Ryan Steensland and James Sand have remained the owners of Envoi since its creation in 2009. All three have extensive experience working in finance and business.

Because this firm specializes in serving high-net-worth-individuals and their families, its services are centered around these client types. The firm provides:

• Cash-flow and budget management
• Investment management
• Tax mitigation and planning
• Risk management
• Wealth transfer planning
• Young adult financial education
• Charitable organization management

Envoi Investing Strategy

Before any investment or portfolio structure decisions are made, Envoi will assemble a balance sheet that seeks to define your entire financial situation. This will consist of a detailed analysis of your assets, liabilities and cash flow. Once all of the information has been gathered, the firm will work with you to define your risk tolerance, time horizon, liquidity needs and, most importantly, financial objectives.

Diversification serves as the framework for how this firm will draft an investment plan that fits your needs. In order to diversify successfully, the firm will evaluate and utilize a mix of the following investment types: mutual funds, exchange-traded funds (ETFs), registered funds, master limited partnerships, alternative investments, traditional fixed-income and equities.

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Financial Dimensions Group has a variable account minimum that differs based on the service. These can range from $5,500 up to $50,000, though some exceptions may be made.

The firm works with both high-net-worth and non-high-net-worth individuals, as well as retirement plans, charitable organizations and businesses.

The advisory team holds multiple certifications, including certified financial planners (CFPs) and certified fund specialists (CFSs), among other designations.

Note that advisors here may have the ability to earn commissions from the sale of certain financial products. While this represents a potential conflict of interest, the firm's fiduciary duty legally binds it to act in your best interest, no matter what.

Financial Dimensions Group Background

Financial Dimensions Group is owned by Gregg R. Anderson and Gloria J. Pozzini, two advisors at the firm. The firm has been in business since 1995.

Investment management services at this firm are offered through a third-party program called the VISION2020 Wealth Management Platform. Financial planning can also cover retirement planning, cash flow analysis, savings planning and more.

Financial Dimensions Group Investing Strategy

Financial Dimensions Group custom builds portfolios for each client that it works with. This involves doing a deep dive into formulating your investor profile, which will cover factors like your risk tolerance, time horizon, financial goals and liquidity needs. Your advisor may also ask you to fill out a risk tolerance questionnaire so they can more accurately assess what your stance is.

When investing clients' assets, the firm typically invests in mutual funds and ETFs, and to a lesser extent, individual stocks and bonds. The firm may rebalance your portfolio if your investments' returns throw off your intended allocations.

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BerganKDV Wealth Management is a fee-based advisory business based in Bloomington. Its individual clients include both non-high-net-worth and high-net-worth individuals, as well as pension and profit-sharing plans, charities, state or municipal government entities, corporations and trusts.

Fees paid to BerganKDV may be based on assets under management or may be a fixed fee.

The firm may receive commissions for selling clients securities or insurance products. This is a potential conflict of interest, but the firm is still bound by fiduciary duty to act in the best interest of the client.

There are multiple advisors at BerganKDV. The wealth management team includes certified financial planners (CFPs), chartered financial analysts (CFAs) and certified public accountants (CPAs), among other certifications.

BerganKDV Wealth Management Background

The firm was founded in 2007. Its principal owner is BerganKDV, Ltd, a CPA and consulting firm based in Cedar Rapids, Iowa.

BerganKDV’s services include:

• Financial planning services
• Investment advisory accounts
• Third-party asset management
• Tax planning
• Investment management

BerganKDV Wealth Management Investment Strategy

There are three managed portfolios offered at BerganKDV:

• Dynamic portfolio: Offers a semi-passive and lower cost exposure to assets across class, sector and industry
• BerganKDV portfolio: Gives clients the ability to create their own portfolio combining other strategies
• Strategic portfolio: Features a fully passive, low-cost plan exposing clients to assets across class and style Investments commonly used by the firm include stocks, bonds, commercial paper, certificates of deposit, life insurance, annuities and mutual fund shares.