Finding a Top Financial Advisor Firm in Edina, Minnesota
Choosing a financial advisor can be a difficult decision, as you likely have many options in your area and many factors to consider. We’ve simplified your search by compiling a list of the top advisory firms in Edina, Minnesota. SmartAsset dug through company records and filings with the U.S. Securities and Exchange Commission (SEC) to find the best contenders in the city. If you’re still unsure of who to work with, our financial advisor matching tool can connect you with advisors in your area who can meet your specific needs.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Accredited Investors Wealth Management Find an Advisor||$1,869,377,862||No account minimum; $20,000 minimum annual fee|| || |
Minimum AssetsNo account minimum; $20,000 minimum annual fee
|2||Punch & Associates Investment Management, Inc. Find an Advisor||$1,164,228,679||$250,000|| || |
|3||Silveroak Wealth Management, LLC Find an Advisor||$760,374,795||$250,000|| || |
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|4||Cahill Financial Advisors, Inc. Find an Advisor||$592,336,228||$500,000|| || |
|5||Tradition Wealth Management Find an Advisor||$539,336,228||None|| || |
|6||Capstone Advisory Group, LLC Find an Advisor||$422,404,022||$150,000|| || |
|7||Birchwood Financial Partners Find an Advisor||$370,321,099||$1,000,000|| || |
|8||Cornerstone Wealth Advisors, Inc. Find an Advisor||$241,000,000||None|| || |
|9||Laurel Wealth Planning, LLC Find an Advisor||$161,479,743||$500,000|| || |
How We Found the Top Financial Advisor Firms in Edina, Minnesota
We narrowed the pool of potential financial advisors for this list to those with their primary office in Edina, Minnesota area. We also limited our scope to those firms registered with the Securities and Exchange Commission (SEC), because SEC-registered companies have a fiduciary duty to act in their clients’ best interests.
To further condense our list, we only considered firms with no disclosures, and which both manage individual accounts and provide financial planning services. The final list is ordered by assets under management (AUM), which indicates the amount of money the firm is managing for clients.
Accredited Investors Wealth Management
Accredited Investors Wealth Management is one of two firms on this list with more than $1 billion in assets under management (AUM). The fee-only firm typically serves high-net-worth individuals, pension plans and charitable organizations. While there is no minimum account size, the firm imposes a minimum annual fee of $20,000, which could be cost-prohibitive for those with smaller account sizes.
Accredited Investors Wealth Management splits its offerings into wealth management and investment advisory services. Wealth management covers areas like general financial planning, estate planning, disability and income management, asset protection and retirement planning.
Accredited Investors Wealth Management Background
Accredited Investors Wealth Management started conducting its investment advisory business in 1987. Its current principal shareholders are its founders, Ross Levin and Wil Heupel. Outside of Levin and Heupel’s shares, the firm is employee-owned.
This firm has 27 advisors managing just under 500 clients. Throughout this team, there are 22 certified financial planners (CFPs), which is significantly more than any other firm on this list. You’ll also find three chartered financial analysts (CFAs), five certified public accountants (CPAs), one chartered life underwriter (CLU) and one chartered financial consultant (ChFC).
Accredited Investors Wealth Management Investment Philosophy
Accredited Investors Wealth Management centers its investment philosophy around the idea of mean reversion. This theory states that investment returns will balance out to their averages over the long-term. As a result, the firm adopts a “buy and hold” strategy, prioritizing the long-term over the short-term.
The firm typically starts with one of five strategic asset allocations that vary in terms of risk and return. From there, the firm will tailor which asset classes and individual securities are used, according to the client’s financial goals, time horizon and risk tolerance. The firm typically steers toward mutual funds and exchange-traded funds (ETFs), although that’s not a hard-and-fast rule.
Punch & Associates Investment Management
Punch & Associates Investment Management has the next-most assets under management (AUM), with $1.16 billion. The firm works mostly with individuals, but it also offers its services to high-net-worth individuals, pension plans, pooled investment vehicles, government entities, corporations and charitable organizations. The fee-only firm imposes a minimum account size of $250,000 for most clients.
Punch & Associates Investment Management Background
Punch & Associates Investment Management was founded in 2002 by Howard Punch, who still serves as its president and chief investment officer (CIO). Other principal owners are managing partners Andrew J. Matysik, John C. Carraux and Jessica Johnson. Of the firm’s nine advisors, one is a certified financial planner (CFP) and one is a chartered financial analyst (CFA).
For individual investment management services, the firm charges an annual fee equivalent to 1.00% of your managed assets. For the most part, that fee will also cover wealth planning services. However, the firm reserves the right to charge a separate fee for especially complex financial plans.
Punch & Associates Investment Management Investment Philosophy
The belief that returns on capital are greatest where capital is most scarce is the foundation of Punch & Associates’ investment ideology. The firm believes that many investors operate with the short-term in mind, moving as a reactionary herd. This activity, the firm says, creates value for those investors that think in years or decades.
To analyze investment options, Punch & Associates’ advisors rely mostly on fundamental analysis. Fundamental analysis involves looking at a security’s characteristics, as well as overall financial and economic conditions, in order to gauge its intrinsic value. In the firm’s words, it looks to purchase “growth companies at value prices.”
Silveroak Wealth Management, LLC
Silveroak Wealth Management is the third-place firm in our roundup, with roughly $760 million in assets under management (AUM). The firm’s 289 clients are mostly high-net-worth individuals, but it also works with non-high-net-worth individuals and businesses. The firm has a minimum opening account size of $250,000.
Silveroak Wealth Management offers a wide range of services including portfolio management, pension consulting, financial education workshops, financial planning, consulting and tax preparation. Silveroak is a fee-only firm.
Silveroak Wealth Management Background
Silveroak Wealth Management first opened up shop in 1999, and was founded by several advisors. Of that group, current partners Kim Schwichtenberg and Kathy Nelson are still with the firm. Shannon King is currently serving as the firm’s president and chief compliance officer (CCO).
The fees for financial planning or consulting services are typically flat and end up being between $1,500 and $20,000. The firm also institutes an hourly fee between $50 and $350. Investment management fees will usually be charged as a percentage of AUM. The exact rate will fall between 0.10% and 1.25%, depending on the size of your account and the scope of the services needed.
Silveroak Wealth Management Investment Philosophy
When it comes to formulating investment recommendations, the firm will conduct research on mutual fund and ETF managers, independent money managers and other companies to find those that can add value to client portfolios.
Silveroak typically purchases securities with the idea of holding them for at least a year, and often longer. However, the firm will consider a short-term purchase strategy if it’s appropriate for the client’s situation. The firm also makes sure to tailor investment decisions to each client’s financial goals, risk tolerance, cash flow needs and time horizon.
Cahill Financial Advisors, Inc.
Founded in 1980, Cahill Financial Advisors has operated under its current ownership since 2011. The fee-only firm has approximately $592 million in assets under management (AUM). The firm works mostly with individuals and high-net-worth individuals, but it also counts pension plans, charitable organizations and corporations as clients. There isn’t a firm-wide minimum account requirement, but some of the firm’s advisors require at least $500,000 in investable assets.
At Cahill, services fall into one of three broad categories: investment management services, financial planning services and complex consulting services. Some financial areas these services can cover include tax concerns, retirement planning, trust and estate planning and cash flow analysis.
Cahill Financial Advisors Background
Cahill Financial Advisors first opened in 1980. Since 2011, it’s been wholly owned by Jeff Ohe, who also serves as president of the firm. There are 11 advisors working at the firm, and among them are eight certified financial planners (CFPs), one chartered financial analyst (CFA), two chartered financial consultants (ChFCs) and one certified public accountant (CPA).
The firm charges fees for investment management services based on a percentage of your AUM that ranges from 0.40% to 1.50%. Where you fall on that scale depends on the value of your assets on the last day of the previous billing period. Financial planning fees are charged as a fixed fee, up to a maximum of $10,000.
Cahill Financial Advisors Investment Philosophy
Rather than focusing primarily on stock selection, Cahill Financial Advisors makes strategic asset allocation its top priority when assembling client portfolios. This helps to ensure diversification in every portfolio and ideally sets up each client to experience gains over the long-term.
When analyzing individual securities, Cahill Financial Advisors will use fundamental analysis, which examines overall economic and financial factors to gauge a security’s intrinsic value. The firm will also look at past pricing and volume data to estimate future performance. When analyzing mutual funds and exchange-traded funds (ETFs), the firm will look at the fund’s management and if the fund has been able to perform well over time and in different economic conditions.
Tradition Wealth Management
Tradition Wealth Management is a 16-person advisory firm with approximately $539 million in assets under management (AUM). Its client base consists of more than 1,450 individuals, high-net-worth individuals, pension plans, charitable organizations and corporations.
The firm specializes in asset management services, financial planning and consulting services. It typically doesn’t impose a minimum initial account size. Tradition Wealth Management is a fee-based firm.
Tradition Wealth Management Background
Tradition Wealth Management was founded in 2003, and it has four principal owners: Chadwick J. Schumacher, John L. Hause, Bradley A. Johnson and Timothy C. Gunderson. Schumacher serves as the firm’s managing director. Mark Walsingham is the firm’s chief compliance officer (CCO).
Fees for asset management services at Tradition Wealth Management are negotiable and can vary depending on the size and complexity of your account. However, the fee will never rise above 2.00% of your AUM. Fees for financial planning or consulting services will come either as an hourly fee of up to $150 or as a fixed fee of up to $5,000.
Tradition Wealth Management Investment Philosophy
Tradition Wealth Management employs several kinds of analyses when researching investment options for its clients. These include fundamental analysis, technical analysis and cyclical analysis. The firm also employs a number of investment strategies, provided that the strategy works in concert with each client’s risk tolerance, time horizon and investment goals. These strategies can include long-term purchases, short-term purchases, trading and options.
Capstone Advisory Group, LLC
Capstone Advisory Partners is a nearly decade-old firm in Edina with roughly $422 million in assets under management (AUM). The fee-based firm currently works mostly with individuals, but also maintains accounts for high-net-worth individuals, pension plans and charitable organizations.
Capstone Advisory Partners provides a wide range of services to its clients, including investment management services, financial planning services, retirement plan consulting services and selection of independent investment managers. The firm imposes a minimum account size requirement of $150,000 for its investment management services.
Capstone Advisory Partners Background
Capstone Advisory Partners was established in 2010. The firm has two principal shareholders that own it: partners Gregory Jerald Mortenson and Scott Michael Siverhus. Capstone Advisory Partners employs six advisors, and one is an accredited investment fiduciary (AIF).
For financial planning services, the firm typically charges an hourly fee of $250 for time with advisors and $100 for time with the rest of the staff. Fees for investment advisory services are typically a variable percentage of your AUM between 0.70% and 1.25%.
Capstone Advisory Partners Investment Philosophy
Capstone Advisory Partners believes that a strategic asset allocation has a much more significant impact on long-term investing success than individual stock selection. Therefore, the firm will pay careful attention to ensuring that the mix of asset classes in your portfolio act in concert with your investing goals, cash flow needs and risk tolerance.
The firm most frequently engages in long-term purchase investment strategies, which involves purchasing securities with the intent to hold onto them for a year or longer. Occasionally the firm will also use short-term purchase strategies or engage in option trading.
Birchwood Financial Partners
Birchwood Financial Partners is one of the more exclusive firms on this list, as they typically only accept new individual clients that have at least $1 million in investable assets. Unsurprisingly, the firm’s client base includes a good deal of high-net-worth individuals along with some non-high-net-worth individuals, pension plans, charitable organizations and businesses.
Birchwood provides fee-only asset management services on both a discretionary and non-discretionary basis, and it offers consulting and financial planning services. The latter can touch on a number of issues including business planning, cash flow management, divorce planning, education fund planning, estate planning, income tax planning, insurance or risk management, net worth evaluation and retirement planning.
Birchwood Financial Partners Background
Birchwood was founded in 1990 under the name Kramer Lothrop Brewer Financial, Inc. Today, the firm is owned by Kay Kramer, Dana Brewer, Damian Winther, Bridget Handke and Steve Dixon, all of whom also work as financial advisors or investment managers.
The firm charges asset management fees based on a percentage of your AUM. The exact percentage will vary from 0.75% to 1.50%, depending on the value of your assets. For stand-alone financial planning services, the firm will either charge an hourly fee of no more than $300 or a fixed fee between $1,000 and $10,000.
Birchwood Financial Partners Investment Philosophy
Birchwood Financial Partners combines ideas and practices like modern portfolio theory (MPT), strategic asset allocation and fundamental analysis to create its investment strategies. Firms that subscribe to MPT will attempt to maximize each client’s return according to their stated level of risk.
The firm also thinks that the diversified allocation of asset classes in your portfolio is much more important for your long-term success than the individual securities you select within those asset classes. Consequently, the firm pays a great deal of attention to constructing the appropriate asset allocation for each client’s investment plan.
Cornerstone Wealth Advisors, Inc.
Cornerstone Wealth Advisors has been offering financial services to its clients in some form or another since 1992. The firm manages $241 million in assets and works with more than 200 individual clients, some of whom have a high net worth. The fee-only firm does not maintain a minimum asset requirement.
Cornerstone offers comprehensive financial planning services, consulting services and ongoing investment management services to its clients. Its financial planning prowess can involve cash flow planning, liability management, retirement distribution planning and income generation, education planning, income tax planning and management, estate planning and charitable giving.
Cornerstone Wealth Advisors Background
Cornerstone Wealth Advisors started in 1992 under the name Retirement Solutions. It became a registered investment advisor (RIA) and changed its name in 2003. The firm is wholly owned by its principal, Jonathan T. Guyton. Guyton, along with the firm’s other three advisors, is a certified financial planner (CFP).
For financial planning and consulting services, the firm typically charges a flat fee ranging from $3,000 to $6,000. Often, the firm will collect half of the fee at the beginning of the relationship, with the other half due within 30 days after the services have been fully rendered. For asset management services, the firm will charge a percentage of your assets under management (AUM) between 0.10% and 0.80%. While there’s no minimum account size, the firm does have a minimum annual fee of $5,000 that could be cost prohibitive for some prospective clients.
Cornerstone Wealth Advisors Investment Philosophy
Asset allocation is the core of Cornerstone’s investment philosophy, and the firm seeks to construct an allocation for each client that matches their goals, time horizon, risk tolerance and unique preferences. When analyzing investment opportunities, the firm looks at factors including risk-adjusted return, mean rate of return, standard deviation, consistency of performance and relative earnings growth potential.
In terms of investment strategies, the firm uses both long-term purchases (purchases meant to be held for a year or longer) and short-term purchases. The firm typically avoids trading, options and margin transactions.
Laurel Wealth Planning, LLC
Laurel Wealth Planning has been doing business in Edina since 1998. The firm services 137 clients and manages roughly $161 million in assets. These clients are a mix of individuals and high-net-worth individuals. The firm typically only accepts new clients with at least $500,000 in investable assets.
Laurel offers both financial planning and wealth management services to its clients. Financial planning services will be tailored to each client’s situation, but can include cash flow planning, education funding, business planning, income tax reduction and estate planning; it can also help with financial planning related to death or disability. Wealth management services can be on a discretionary or non-discretionary basis. Laurel Wealth Planning is a fee-based firm.
Laurel Wealth Planning Background
Laurel Wealth Planning was founded by Laura Kuntz in 1998. Kuntz, who is the firm’s sole owner and chief compliance officer (CCO), founded the firm after more than 10 years of experience providing financial advice to high-net-worth individuals and corporate executives. Kuntz is a certified public accountant (CPA), and two of the firm’s six advisors are certified financial planners (CFPs).
The firm typically charges an hourly fee of between $150 and $350 for financial planning services, depending on the scope and complexity of them. For wealth management services, the firm will charge a percentage of assets under management (AUM) ranging from 0.75% to 1.25%. For clients with more than $14.8 million in assets, wealth management fees are negotiable.
Laurel Wealth Planning Investment Philosophy
Laurel Wealth Planning seeks to construct portfolios for each client that feature balanced and diversified allocations of individual equities, bonds, mutual funds and exchange-traded funds (ETFs). The firm will recommend different funds based on performance history, industry sector, fees and the track record of the fund’s management.
The firm will factor in each client’s financial objectives and comfort with risk in order to arrive at the appropriate weighting of each asset class within the portfolio. To assist with investment decisions, the firm will also rely on financial newspapers, fund prospectuses, third-party research and SEC filings, among other information sources.