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.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Accredited Investors Wealth Management Find an Advisor||$2,675,833,554||$20,000 minimum annual fee|| || |
Minimum Assets$20,000 minimum annual fee
|2||Punch & Associates Investment Management, Inc. Find an Advisor||$1,602,219,240||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|3||Cahill Financial Advisors, Inc. Find an Advisor||$967,162,492||Varies based on account type|| || |
Minimum AssetsVaries based on account type
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|4||Tradition Wealth Management, LLC Find an Advisor||$848,445,990||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||SilverOak Wealth Management, LLC Find an Advisor||$1,078,949,002||$250,000|| || |
|6||Birchwood Financial Partners, Inc. Find an Advisor||$506,942,420||$1,000,000|| || |
|7||Laurel Wealth Planning Find an Advisor||$261,763,142||$7,500 minimum annual fee|| || |
Minimum Assets$7,500 minimum annual fee
|8||Cornerstone Wealth Advisors, Inc. Find an Advisor||$373,054,055||No set account minimum|| || |
Minimum AssetsNo set account minimum
|9||Stiles Financial Services, Inc. Find an Advisor||$206,599,169||No set account minimum|| || |
Minimum AssetsNo set account minimum
|10||Josh Arnold Investment Consultant, LLC Find an Advisor||$123,334,000||No set account minimum|| || |
Minimum AssetsNo set account minimum
What We Use in Our Methodology
To find the top financial advisors in Edina, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is accurate as of the writing of this article. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria.
Accredited Investors Wealth Management
Accredited Investors Wealth Management has the largest amount of assets under management (AUM) on this list. The fee-only firm typically serves non-high-net-worth and high-net-worth individuals, retirement plans, businesses 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 accounts.
Throughout this team, there are 24 certified financial planners (CFPs), which is significantly more than any other firm on this list. You’ll also find four chartered financial analysts (CFAs), five certified public accountants (CPAs), one retirement income certified professional (RICP), one chartered life underwriter (CLU) and one chartered financial consultant (ChFC).
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.
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 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 works mostly with high-net-worth individuals, but it also offers its services to non-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 individual clients. Wealth planning clients don't need to adhere to a minimum.
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.Of the firm’s advisors, one is a certified financial planner (CFP) and one is a chartered financial analyst (CFA).
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.
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.”
Cahill Financial Advisors
Originally founded in 1980, Cahill Financial Advisors has operated under its current ownership since 2011. The fee-only firm works mostly with individuals above and below the high-net-worth threshold, but it also counts pension plans, charitable organizations and corporations as clients. There isn’t a firm-wide minimum investment requirement, but some of the firm’s advisors require at least $500,000 in investable assets.
The team of advisors here includes 10 certified financial planners (CFPs), one chartered financial analyst (CFA), three chartered financial consultants (ChFCs), one certified fund specialist (CFS), two certified divorce financial analysts (CDFAs), one chartered special needs consultant (ChSNC) and one certified public accountant (CPA).
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.
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 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 has several on-staff advisors managing millions in assets under management (AUM). Its client base consists of about 1,200 non-high-net-worth individuals, high-net-worth individuals, pension plans, charitable organizations and corporations.
The firm specializes in asset management services, financial planning and consulting services, and there is no minimum necessary to have an advisor manage your portfolio. Tradition Wealth Management is a fee-based firm, meaning certain advisors can earn commissions from the sale of financial products. This is a potential conflict of interest, but advisors still must act in the client's best interest at all times.
The staff of advisors here includes one certified financial planner (CFP), one chartered financial consultant (ChFC), one chartered life underwriter (CLU) and one chartered property casualty underwriter (CPCU).
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, while Schumacher, Hause and Johnson are all partners at the firm.
Financial planning and investment management are both available through this firm. Financial plans are adjusted to your needs, but they can cover things like retirement planning, estate management, tax planning, insurance planning and more.
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.
SilverOak Wealth Management
SilverOak Wealth Management is the next firm up, and it has the third-largest AUM on this list. The firm’s 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, though it may be willing to negotiate this requirement under certain circumstances. This is a fee-only firm.
Most of the advisors at SilverOak have a certification to their name. In fact, there are five certified public accountants (CPAs), eight certified financial planners (CFPs), four personal financial specialists (PFSs), one certified investment management analyst (CIMA), one certified private wealth advisor (CPWA), one accredited estate planner (AEP), two accredited asset management specialists (AAMSs), one certified senior advisor (CSA) and two chartered financial analysts (CFAs).
SilverOak Wealth Management Background
SilverOak Wealth Management first opened up shop in 1999, and it was founded by several advisors. Today, the firm's ownership has been transferred over to Shannon King, who is currently serving as the firm’s president, chair and chief compliance officer (CCO).
SilverOak Wealth Management offers a wide range of services including portfolio management, pension consulting, financial education workshops, financial planning, consulting and tax preparation.
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.
Birchwood Financial Partners
Fee-only 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, though this requirement is waivable. 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.
There are plenty of advisory certifications to go around at Birchwood. In fact, there are six certified financial planners (CFPs), three chartered SRI counselors (CSRICs), one chartered advisor in philanthropy (CAP) and one chartered financial analyst (CFA).
Birchwood Financial Partners Background
Birchwood Financial Partners was founded in 1990 under the name Kramer Lothrop Brewer Financial, Inc. Today, the firm is owned by Dana Brewer, Damian Winther, Bridget Handke, Rachel Infante and Steve Dixon, all of whom also work as financial advisors or investment managers.
Birchwood provides 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 Investment Philosophy
Birchwood Financial Partners combines ideas and practices like modern portfolio theory , strategic asset allocation and fundamental analysis to create its investment strategies. Firms that subscribe to modern portfolio theory 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.
Laurel Wealth Planning
Laurel Wealth Planning has been doing business in Edina since the late 1990s. The firm serves over a hundred clients, with a mix of individuals with and without a high net worth. Rather than use a minimum investment requirement, the firm requires a $7,500 minimum annual fee from each client.
Laurel Wealth Planning is a fee-based firm, which means certain advisors can receive commissions for selling insurance products to clients. This is a potential conflict of interest, but advisors still must act in the best interest of the client due to their fiduciary duty.
For a small operation, Laurel Wealth has a few advisors with certifications. This includes one certified public accountant (CPA), one personal financial specialist (PFS), two certified financial planners (CFPs), one accredited investment fiduciary (AIF) and one chartered retirement planning counselor (CRPC).
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.
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 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.
Cornerstone Wealth Advisors
Cornerstone Wealth Advisors has been offering financial services to its clients since 2003. The firm manages millions in assets and works with more than 270 individual clients, most of whom have a high net worth. The firm does not maintain a minimum asset requirement. 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.
As a fee-only firm, all of Cornerstone's compensation comes from client-paid fees and not third-party sales commissions. The firm's advisory staff includes a number of certified financial planners (CFPs).
Cornerstone Wealth Advisors Background
Cornerstone Wealth Advisors can trace its history back to 1990 when its predecessor, Retirement Solutions, was founded. However, the firm has existed in its current form since 2003. The firm is wholly owned by its principals, Jonathan T. Guyton and Andrea N. Eaton.
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 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.
Stiles Financial Services
Stiles Financial Services is a high-net-worth individual-centric firm. However, its advisors also work with retirement plans, charitable organizations and businesses. The firm does not have a specific minimum account size for incoming clients.
The advisory staff here is fairly small, but it boasts a number of certifications. For example, you'll find designations like certified financial planner (CFP), accredited investment fiduciary (AIF), chartered financial consultant (ChFC), certified employee benefits specialist (CEBS) and more.
As a fee-based firm, some of the advisors at Stiles can receive commissions for selling insurance products or securities to clients. Although this represents a potential conflict of interest, the firm and its advisors have a fiduciary duty to act in clients' best interests.
Stiles Financial Services Background
Stiles Financial Services has been around for just over two decades, as it was created in 2000. The firm's founder and president, Susan M. Stiles, principally owns the firm to this day. Stiles has around 30 years' experience working in the financial services industry.
Both individualized investment management and financial planning are available at this firm. Financial planning can cover budgeting, college fund planning, wealth accumulation planning, retirement planning and more.
Stiles Financial Services Investing Strategy
Advisors at Stiles Financial Services will work with you to build a custom investment portfolio. To do this accurately, the firm will set you up to meet with an advisor, during which you'll go over what kind of investor you are. More specifically, your advisor will want to know what your long-term financial goals are, when you want to achieve them by, how risky of an investor are you willing to be and more.
The firm combines all transactional, advisory and custodial investment management charges into a single rate. This is called a wrap fee program.
Josh Arnold Investment Consultant
As its name would suggest, Josh Arnold Investment Consultant is a financial advisor firm led by firm founder Josh Arnold. Arnold has spent a lengthy amount of time helping clients in the financial services industry, as his experience stretches back to 1978. The firm's website does not list any certifications for the firm's advisory staff.
Only individuals work with this firm. Of these clients, a majority come in below the high-net-worth threshold. The firm technically has no minimum investment requirements for those who are looking to open an account. This is a fee-only firm, which means its only form of compensation are the fees that clients pay.
Josh Arnold Investment Consultant Background
Although Josh Arnold has worked in the advisory business since 1978, his firm, Josh Arnold Investment Consultant, has only been open for business since 2012. Arnold remains the firm's sole and principal owner, as well as its day-to-day lead advisor.
Investment management at this firm is offered on both a discretionary and non-discretionary basis. Financial planning topics include taxes, estate planning, retirement, insurance and more.
Josh Arnold Investment Consultant Investing Strategy
Like most individual-centric firms, Josh Arnold Investment Consultant focuses on the client's needs and financial situation before investing a dime of thei money. This involves speaking with the client about what their long-term goals are and when they want to achieve them. Other factors that are extremely important in the portfolio planning process include risk tolerance, liquidity needs and investment preferences. Fundamental analysis and technical analysis are the main two methods through which this firm chooses investments for client portfolios.