Top Financial Advisors in Fargo, ND

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Eide Bailly Advisors works primarily with individual clients, both with and without a high net worth. Institutional clients of Eide Bailly include pensions, profit-sharing plans, charities and other businesses. Certain accounts and portfolios at the firm have a minimum investment requirement, but the exact minimum may vary.

Eide Bailly is a fee-based firm. It has advisors on staff who are also registered as insurance agents or broker-dealers, and these advisors can earn commissions from selling financial products to client. This is a potential conflict of interest. However, the firm is still a fiduciary, so it's legally obligated to act in the best interests of clients at all times.

Eide Bailly Advisors Background

Eide Bailly Advisors was founded in 2005, the same year that it registered with the SEC an investment advisor. The firm has the biggest advisor team of the firms on our North Dakota list. The firm is owned by Eide Bailly Financial Services, LLC, which is owned and operated by Eide Bailly, LLP. Dave L. Stende is currently the firm's chief executive officer and managing partner. He is a certified public accountant (CFP), like many of the firm's other advisors.

Eide Bailly provides its clients with financial planning and asset management services, as well as model investment strategies and financial consulting services.

Eide Bailly Advisors Investment Strategy

Eide Bailly Advisors looks to tailor its investment advisors services to the needs of clients. This involves getting to know clients on an individual basis, learning such information as a client's tolerance for risk, liquidity needs, time horizon and any other relevant information. They use this information to craft an investment plan for each client. This plan may sometime involve a preformed investment model or strategy.

On the whole, Eide Bailly's investment philosophy can be described as focusing around strategic and passive asset allocation. Advisors tend to use equities, fixed-income securities and cash or cash equivalents to populate client portfolios.

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Clients of Wealth Forward are predominantly individuals with less than a high net worth, though it also works with high-net-worth individuals and retirement plans. Services provided include financial planning, retirement plan consulting and investment management. There is no minimum account balance requirement needed to become a client.

Wealth Forward is a fee-based firm, meaning it employs advisors who earn commissions when they sell insurance products or trade securities. This poses a potential conflict of interest, though the firm is a fiduciary and legally obligated to act in the best interests of clients.

Wealth Forward Background

Wealth Forward has been providing investment advisory services since 2011. Ryan Berg is the firm's sole owner, and he holds three certifications: certified financial planner (CFP), certified public accountant (CPA) and personal financial specialist (PFS). Berg has worked in the investment business for over 20 years.

Wealth Forward's services include comprehensive and in-depth financial planning, retirement plan consulting and discretionary investment management. The firm also manages a small amount of its assets on a non-discretionary basis. 

Wealth Forward Investment Strategy

Advisors at Wealth Forward monitor and rebalance client portfolios on at least a quarterly basis. While the types of securities used to implement a client's portfolio may vary, they typically include stocks, bonds, mutual funds, exchange-traded funds, private placements, convertible securities and more.

Investment strategies may also entail the use of third-party investment managers. The firm may also invest client assets in a variety of model portfolios in an effort to drive growth.

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Light Financial Services offers a range of financial services to individuals, high-net-worth individuals, charitable organizations and some businesses. The firm provides financial planning, individual portfolio management and consulting services to its approximately 600 clients on either a discretionary or non-discretionary basis. Light Financial also maintains a robust practice with employees of public school districts and advises employees on 403(b) issues.

As a fee-only firm, it only takes fees paid by clients; there are no commissions paid by third-party entities. Fees charged to clients are based either on a percentage of the assets under management or a set amount. While Light Financial maintains minimum account balance requirements, they vary by customer, and the firm retains the right to waive an minimum account balance.

Light Financial Services Background

Paul Light, a certified financial planner (CFP), founded the firm in 2001 after a number of years employed in the insurance and financial planning industries. From 1995 to 2001 he worked for Educators Financial Services as a financial advisor, and before that he worked with Prudential Insurance Co. Light is assisted in his work by an investment advisor representative.

Light Financial Services Investing Strategies

Rather than focusing primarily on securities selection, the firm attempts to identify an appropriate ratio of securities, fixed income and cash suitable to the client's investment goals and risk tolerance. When deciding on a mutual or exchange-traded fund to put a client's money into, Light Financial considers the experience and performance of the fund manager, whether a fund's holdings overlap with a client's existing securities and whether the fund is following its stated objectives. The firm aims to find undervalued assets and hold them for at least a year.

In terms of financial planning, Light Financial evaluates known variables to predict a client's future cash flow, asset values and withdrawal plans. Upon completion the firm's personalized financial plan covers tax issues, investments, insurance, retirement, death and disability and estate planning.