Top Financial Advisors in Bloomington, MN

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BerganKDV Wealth Management takes the top spot on our list. This fee-only firm offers services with a $5,000 minimum annual fee to individuals without a high net worth, high-net-worth individuals, pension plans, charities, trusts, government entities and corporations.

Among the services the firm offers are individual portfolio management, retirement plan consulting, tax planning, retirement planning, estate planning, insurance planning and cash flow analysis.

BerganKDV Wealth Management Background

BerganKDV Wealth Management started conducting its investment advisory business in 2007, but the company's history goes back to 1945. Its principal shareholder is BerganKDV, Ltd. But wealth management is just one of the many services that BerganKDV Ltd. offers. The company also provides accounting, auditing, payroll and HR services, cybersecurity and cloud computing services.

Among the firm's team of advisors are chartered financial analysts (CFA), certified financial planners (CFP) and certified public accountants (CPA).

BerganKDV Wealth Management Investment Philosophy

BerganKDV Wealth Management employs fundamental analysis, charting, technical analysis, cyclical analysis and quantitative analysis when analyzing which securities to include in client portfolios. When examining a mutual fund or ETF, the firm will look at the fund’s management to see if it has been able to perform across various economic conditions.

The firm uses a mix of investment strategies including long-term purchases, short-term purchases, trading, options and more. The firm uses its discretion and information from the client to determine the best combination of strategies for their portfolio.

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Redhawk Wealth Advisors is a fee-based advisory firm that offers financial planning, retirement planning, investment management, tax planning, legacy planning and insurance services. The firm primarily works with individuals, trusts, estates, charitable organizations, foundations, endowments, not-for-profit companies, retirement accounts, retirement plans, captive insurance companies and corporations. 

As a fee-only firm, the advisors at Redhawk could earn commissions for the sale of certain securities to their clients. This can create a potential conflict of interest. However, the firm and its advisors are bound to a fiduciary duty that requires them to put the needs of each client first.

Redhawk Wealth Advisors Background

The firm was founded in 2008 and today is led by Chief Executive Officer Dan Hunt as well as President and Chief Compliance Officer Rick Keast. The firm manages more than $1.2 billion in assets under management (AUM) and have 35 total financial advisors helping more than 1,900 clients. 

Redhawk Wealth Advisors Investment Philosophy

Redhawk provides customized investment advisory and management services to assist its clients in achieving their investment objectives while fulfilling its fiduciary obligations. The firm's investment philosophy believes that missing severe market drops is essential to investment success. The firm doesn't pretend to predict the market but instead uses proprietary processes that are based on trends, analytics and discipline to meet each client's needs. The firm crafts an investment strategy that is unique to the risk tolerance and overall goals of each client. 

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JNBA Financial Advisors has the second most assets under management (AUM) on this list. The firm works primarily with non-high-net-worth individuals, but it also offers its services to high-net-worth individuals, pension plans and charitable organizations.

JNBA offers fee-only investment management services, financial planning and consulting services to it clients. The firm doesn’t have a specific minimum account size for these services, though it does require a $10,000 minimum annual fee.

JNBA Financial Advisors Background

JNBA Financial Advisors was founded back in 1978, led by Judith Brown. Today, Judith’s son Richard serves as both owner and CEO of the firm.

Among the firm’s advisors, there are a handful of certified financial planners (CFPs). Other advisory certifications include chartered financial analyst (CFA), chartered financial consultant (ChFC) chartered advisor for senior living (CASL) and more.

JNBA Financial Advisors Investment Philosophy

To analyze investment options, JNBA's advisors will primarily perform both fundamental and technical analysis. Fundamental analysis involves looking at a company's past performance as well as basic financial information surrounding a security in order to gauge its intrinsic value. Technical analysis involves examining price and volume data to attempt to forecast the direction of a stock or fund.

JNBA views wealth management as a marathon rather than a sprint. Consequently, it focuses on fostering consistent, long-term growth rather than attempting to time the market for short-term gains. Every portfolio is regularly reviewed on a 10-day cycle, and each client portfolio is constructed with an asset allocation designed to maximize return for the client’s risk tolerance.

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Stevens Foster Financial Advisors comes up next in our roundup. The firm’s clients are a fairly even split between non-high-net-worth and high-net-worth individuals, with the former making up a slightly larger percentage of the client base. The firm doesn’t specify a minimum account size.

Stevens Foster focuses on comprehensive financial planning services and investment management. Its financial planning services can cover estate planning, insurance planning, tax management and risk management, among other issues.

Stevens Foster is a fee-based firm. In its case, this means that some on-staff financial advisors can earn commissions when they sell insurance products. Despite this potential conflict of interest, the firm still abides by fiduciary duty.

Stevens Foster Financial Advisors Background

Stevens Foster Financial Advisors first opened up shop in 1988. William H. Stevens founded the firm and is still its CEO and principal shareholder. According to the firm's website, it has been included on Barron's list of the top financial advisors in the U.S. every year since 2007.

Three advisors make up the leadership team at Stevens Foster: CEO William H. Stevens, VP of planning Debra A. Groezinger and VP of finance and tax Philip D. Bergstrom. Throughout this group, there is one certified financial planner (CFP), two certified public accountants (CPAs), one chartered life underwriter (CLU) and one chartered financial consultant (ChFC).

Stevens Foster Financial Advisors Investment Philosophy

Stevens Foster relies on an in-house investment team that develops investment strategies and conducts investing research and analysis. With respect to client portfolios, the firm pays special attention to diversified asset allocations, fee considerations, tax consequences and selecting the right asset managers.

The firm also makes sure to tailor its investment decisions to each client’s financial goals, risk tolerance, cash flow needs and time horizon. To ensure that all of these factors are accurately accounted for, the firm will speak with you directly to determine them.

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BGM Wealth Partners has been serving Bloomington-area clients for nearly three decades. The firm currently works exclusively with individuals, just under half of whom have a high net worth.

BGM Wealth Partners provides a wide range of fee-only services to its clients, which means the firm does not receive extra commissions on top of client-paid fees. Its available services include investment management, financial planning, consulting, wealth coaching and selection of independent investment managers.

The firm doesn’t specify a minimum account size.

BGM Wealth Partners Background

BGM Wealth Partners was originally established in 1996. The firm is owned by BGM Holdings, LLC, a financial services holding company. Chief operating officer (COO) Jon T. Meyer has a minority ownership stake in BGM Holdings.

BGM employs a small team of advisors. Four of these staff members have a certified financial planner (CFP) designation, along with two certified public accountants (CPAs) and one personal financial specialist (PFS).

BGM Wealth Partners Investment Philosophy

BGM Wealth Partners will approach each client’s portfolio with their unique risk tolerance, timeline and goals in mind. The firm will create an asset allocation with a specific mix of mutual funds, exchange-traded funds (ETFs) and independent investment managers that will in turn select individual stocks.

The firm constructs these portfolios with a long-term angle in mind, believing that attempts to time the market in the short-term will wind up costing you down the road.

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Webb Financial Group has been operating in Bloomington for 40 years. All but two of the firm's clients are non-high-net-worth individuals, with a couple high-net-worth individuals to round it out. The firm has a $250,000 minimum relationship size that it holds its clients to.

Investment management and financial planning services are both available at Webb Financial Group. The extent of the latter will depend in part on your unique financial situation, but the firm’s capabilities include tax planning, estate planning, college fund planning and retirement planning, among other offerings.

Webb Financial Group is a fee-based firm that employs advisors who may receive insurance product sales commissions. Despite this potential conflict of interest, the firm is still a fiduciary, legally binding it to act in clients' best interests.

Webb Financial Group Background

Webb Financial Group was founded in 1981 by the father of the firm’s current CEO, Gary Webb. Gary Webb owns the firm, along with chief operating officer (COO) Michael Bischoff.

The firm's team of financial advisors includes one registered financial consultant (RFC) and one certified financial planner (CFP).

Webb Financial Group Investment Philosophy

Webb Financial Group begins each investment process by collecting information from the client. This information will include considerations like their income, tax situation, risk tolerance, investing goals and time until retirement.

With that info in hand, the firm will then go about constructing an asset allocation that’s appropriate for that client. As necessary, the firm will also rebalance client portfolios to help maintain the target allocation percentages.

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According to Caissa Wealth Strategies' website, the firm is named after the Roman goddess of chess, referring to the fact that its clients "have many complex ‘pieces’ in [their] financial board of life" as the inspiration. The fee-only firm has a high $1 million minimum investment requirement, though it may be willing to waive this in certain situations.

Caissa's entire client base is made up of individuals, with a close to even split between individuals with and without a high net worth. Clients will have access to advisors who hold a number of certifications, including certified financial planner (CFP), certified divorce financial analyst (CDFA), chartered financial consultant (ChFC) and chartered life underwriter (CLU).

Caissa Wealth Strategies Background

Caissa Wealth Strategies was founded just over a decade ago in 2009 by Kelly S. Olson Pederson. Olson Pederson is still the firm's principal owner and its chief investment officer (CIO).

Investment management and financial planning are both available through Caissa. Financial planning can cover retirement planning, insurance planning, college fund planning, net worth determination, cash flow planning and more.

Caissa Wealth Strategies Investing Strategy

Caissa Wealth Strategies works with clients to build a customized portfolio for them. These services are available on both a discretionary and non-discretionary basis, and advisors will meet with clients to determine what kind of investor they are. To do this, the firm will work with you to figure out your risk tolerance, time horizon, income needs and long- and short-term financial goals. A personal investment policy will come from these findings, as well as an asset allocation plan.

Once your assets are invested in the market, Caissa will monitor how your portfolio's investments are doing. If necessary, the firm may decide to rebalance your portfolio back to something closer to your original asset allocation.

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Trademark Financial Management is a fee-only advisory firm offering investment management services to individuals, retirement and profit-sharing plans, trusts, estates, charitable organizations, corporations and other investment advisors. As a fee-only firm, there is no potential conflict of interest for the sale of any securities. 

Trademark Financial Management Background

Trademark was founded in 2000. Today, the firm is run by Mark Carlton (CFA) serving as President and Investment Manager, John Mowery (CFP) serving as Managing Director and Jennifer Knutsen serving the firm as its Director of Operations. The firm works with more than 400 clients and manages more than $200 million in assets under management (AUM). 

Trademark Financial Management Investment Philosophy

Trademark believes that broad asset allocation is the most important decision in the investment process. The firm holds that effective asset allocation programs will own securities that are currently out of favor because doing so reduces the long-term risk of underperformance of an entire portfolio. The firm crafts an investment strategy based on the needs of each client but also relies heavily on mutual funds and ETFs in order to compress the range of outcomes. 

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Legacy Financial Advisors Corporation is a fairly small advisory firm in terms of assets under management and advisory staff. Its client base is exclusively made up of individuals, with most of them coming in below the high-net-worth threshold. The firm has a $500,000 minimum investment requirement, though it may be willing to waive this minimum under certain circumstances.

The firm provides two broad categories of services. The first is portfolio management, either by the firm’s advisors or by independent money managers the firm selects. The second is financial planning, which could include estate planning, retirement preparation and tax planning.

Certain on-staff advisors at this firm can earn commissions from insurance sales, with this potential conflict of interest making it a fee-based firm. Legacy Financial still abides by fiduciary duty, though, legally binding it to act in clients' best interests no matter what.

Legacy Financial Advisors Corporation Background

Legacy Financial Advisors was founded in 1996. Its current president and co-owner, Tom Menzel, has been involved since the firm’s founding, and he assumed ownership of the firm in 1997. Menzel and vice president and co-owner Laura Biermann each hold the certified financial planner (CFP) designation.

Legacy Financial Advisors Corporation Investment Philosophy

When analyzing securities, Legacy Financial Advisors relies mostly on fundamental analysis, which is the attempt to gauge a security’s intrinsic value by looking at fundamental statistics regarding the company or fund. The firm will do this by reviewing information from third-party research, Morningstar, fund prospectuses and other investment management companies.

The firm looks to strategic asset allocation as its primary investment strategy, believing that balanced and diversified portfolios give clients the best chance for sustainable, long-term success. The risk tolerance of each asset allocation will be tailored to each client.

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Guardian Wealth Advisors is a fee-only advisory firm that focuses on offering wealth advisory and asset management services.The firm offers its services to individuals, high-net-worth individuals, corporate pension and profit-sharing plans, Taft-Hartley plans, charitable institutions, foundations, endowments, municipalities, trust programs, estates, corporations and other institutions. As a fee-only advisory firm there is no potential conflict of interest for the recommendation or sale of any securities. 

Guardian Wealth Advisors Background

The firm was founded in 2007. The firm has three advisors today (Greg Kulka, John Keyes and Eric Becker (AAMS). The firm works with more than 200 clients and manages nearly $200 million in assets under management (AUM). 

Guardian Wealth Advisors Investment Philosophy

Guardian Wealth Advisors believes in a cornerstone investment strategy of stocks and bonds when planning for a long-term portfolio. The firm believes in diversification to pursue financial goals, which is achieved on a client-by-client basis depending on their overall goals and risk tolerance. The advisors work with each client to understand their risk profile, long-term goals and overall objectives before crafting the right diversification strategy.