Finding a Top Financial Advisor Firm in Plymouth, Minnesota
The community of Plymouth, which is about 10 miles west of downtown Minneapolis, has a fairly large selection of financial advisor firms to choose from. To help you sift through these options, SmartAsset has compiled this list highlighting the top firms in the city of Plymouth. We highlight a number of important factors for each firm, including their minimums, investment strategies, available services and more. SmartAsset’s financial advisor matching tool matches you with up to three vetted advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Berger Financial Group Find an Advisor||$1,365,502,656||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||VPWM Advisors, LLC Find an Advisor||$303,198,638||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||GEN Financial Management, Inc. Find an Advisor||$408,749,800||No set account minimum|| || |
Minimum AssetsNo set account minimum
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|4||Work Optional, Inc. Find an Advisor||$172,641,228||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||Ross\Johnson & Associates, LLC Find an Advisor||$130,244,844||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Echo Wealth Management, LLC Find an Advisor||$147,790,930||$1,000,000|| || |
|7||Phillip James Financial, Co. Find an Advisor||$135,006,000||$500,000|| || |
What We Use in Our Methodology
To find the top financial advisors in Plymouth, 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 obtained through public records and is updated annually after the firms’ form ADV filing. 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. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
Berger Financial Group
The largest percentage of Berger Financial Group's client base belongs to individuals with less than a high net worth. It also maintains advisory relationships with high-net-worth individuals, charitable organizations, government entities and businesses. There is no specific account minimum for clients of this firm.
Berger Financial has a large team of advisors. They hold some advisory certifications, including chartered retirement counselor (CRC), certified public accountant (CPA), certified financial planner (CFP), enrolled agent (EA) and more.
Some of the advisors at this firm have the ability to earn commissions from the sale of insurance products and securities. Although this represents a potential conflict fo interest, the firm's fiduciary duty requires it to act in clients' best interests, at all times.
Berger Financial Group Background
Berger Financial Group is the oldest firm on this list, as it was established in 1996. The firm is owned by the Berger Financial Group Employee Stock Ownership Plan Trust, along with some minority interests belonging to employees.
Wealth management services at Berger Financial encompass both financial planning and invesment services. Financial plans here can cover topics like retirement planning, estate planning, college funds planning, net worth analysis and more.
Berger Financial Group Investing Strategy
Berger Financial Group works with clients on an individual basis to determine what kind of investor they are. This involves looking into your risk tolerance, time horizon, income needs and long-term financial goals. These factors will have a large effect on what your portfolio looks like.
Generally speaking, Berger Financial is open to investing in many different types of securities. These include ETFs, mutual funds, options, stocks, bonds and model portfolios.
VPWM Advisors' client base is composed, primarily, of non-high-net-worth individuals. Other clients of the firm include high-net-worth individuals, retirement plans, charitable organizations and businesses.
There are several advisors on staff at VPWM, which has no minimum account size. The team boasts a handful of certifications, including four certified financial planners (CFPs), one chartered financial advisor (CFA), one professional plan consultant (PPC), one life underwriter training council fellow (LUTCF) and one chartered retirement planning counselor (CRPC).
As a fee-based firm, some advisors here can earn commissions for selling securities or insurance products, which is a potential conflict of interest. Still, the firm is bound by fiduciary standards to act in the best interest of the client at all times.
VPWM Advisors Background
VPWM Advisors was founded in 2013 under the name NRP Advisors, LLC. However, in 2016, the firm switched to its current name. Joseph S. McRae, who has more than 30 years of experience in the financial services industry, is the firm's principal owner.
Services offered at VPWM include investment supervisory services, financial planning, investment planning, life insurance, tax concerns, retirement planning, college planning and debt/credit planning.
VPWM Advisors Investment Strategy
VPWM Advisors uses fundamental and technical analysis to figure out which investments to make for client portfolios. The firm will also take into account what type of investor you are. This involves doing a deep dive into your current financial situation, unearthing factors like your risk tolerance, time horizon, income needs and long-term goals. The firm tends to invest in a combination of mutual funds, bonds, stocks, ETFs, real estate investment trusts, annuities and other insurance products and more.
GEN Financial Management
GEN Financial Management is a fee-only firm with a small number of advisors on staff, most of whom are certified financial planners (CFPs). The firm's staff also includes one chartered financial analyst (CFA), two certified kingdom advisors (CKAs), one accredited investment fiduciary (AIF) and one chartered advisor in philanthropy (CAP).
Clients at GEN Financial are mostly non-high-net-worth individuals, with plenty of high-net-worth clients as well. The only institutional clients of the firm are pension and profit-sharing plans. The firm does not list a minimum account size.
GEN Financial Management Background
Eric Moleski founded GEN Financial Management in 1998. He still owns the firm along with Aaron Lindberg, its chief investment officer (CIO), and Bryan Vancura, its vice president. All three individuals also act as advisors at the firm. GEN merged with Lindberg Financial Corporation in 2018.
Services offered by the firm include financial planning, asset allocation, investment management and retirement planning.
GEN Financial Management Investment Strategy
GEN Financial Management uses model portfolios, which means portfolios and asset allocations are managed on a macro level. However, the firm still allows for some flexibility to personalize for each client. In term, the firm will be sure to take into account what type of investor you are, including things like your risk tolerance, time horizon and financial goals.
The advisors will also periodically rebalance client portfolios to make sure they are meeting asset allocation targets. The firm also attempts to minimize stock-picking strategies.
Work Optional works primarily with individual clients, some of whom have a high net worth and some of whom are non-high-net-worth individuals. The firm also maintains advisory relationships with pension plans and businesses.
Among the professional designations held by advisors are certified financial planner (CFP) and chartered financial analyst (CFA).
Some of these advisors are registered insurance agents and may earn commissions for selling insurance products to clients. This is a potential conflict of interest, but as a fiduciary the firm are bound by fiduciary duty to act in the best interest of the client, at all times.
Work Optional Background
Work Optional was founded in 2012. It was initially registered at the state level in 2012 and re-registered with the SEC in 2018. Marc D. Langva is Work Optional's sole owner, co-founder and CEO. Firm president Jaime Lyn Langva is its other co-founder.
Services offered by the firm include asset management, consulting and retirement plan consulting. There is no account minimum at the firm, though its consulting services come with a $1,500 minimum fee.
Work Optional Investment Strategy
Work Optional uses fundamental technical, cyclical and charting analysis to make investment choices for clients' portfolios. Long-term purchases (investments held for more than a year), short-term purchases (investments held for less than a year), short sales and margin transactions are all used by the firm's advisors.
Ross\Johnson & Associates
Ross\Johnson & Associates is the next firm up on our list. This is an entirely individual-centric firm, though it works mostly with individuals below the high-net-worth threshold. The firm does not require a minimum investment for new clients.
Certain members of the advisory staff at this firm can sell insurance products on a commission basis, which creates a potential conflict of interest. Despite this arrangement, Ross\Johnson's SEC registration means it must act in clients' best interests, at all times, because of its fiduciary duty.
Ross\Johnson & Associates Background
Ross\Johnson & Associates has been in business since 1998. Anthony Robert Johnson and Patrick Terrence Ross are the firm's principal owners. In total, the firm's staff has over 100 years of combined experience in the financial services industry.
Financial planning at this firm can cover topics like retirement planning, estate planning, cash flow management, insurance planning, financial problem identification and more. Custom investment management is also available.
Ross\Johnson & Associates Investing Strategy
Ross\Johnson & Associates uses what it calls the "Present Plan Model" to keep track of what a client's current financial situation looks like. It will detail things like your long-term financial goals, risk tolerance, time horizon and income needs. As your situation or the market changes, the firm will regularly update this model to ensure your portfolio is up to date.
Investments made by Ross\Johnson generally fall into one of a few categories: mutual funds, fixed-income securities, insurance products, stocks, ETFs and international securities.
Echo Wealth Management
Echo Wealth Management is a fee-based firm serves individuals with and without a high net worth, trusts, estates and retirement plans. Professional designations held by advisors include certified financial planner (CFP) certified public accountant (CPA) and chartered financial analyst (CFA) .
As for its minimum account size, Echo requires new clients to have at least $1 million in investable assets. Under certain circumstances, the firm may be willing to waive this requirement, though.
As a fee-based firm some advisors have the ability to earn commissions from the sale of insurance products to clients. Although this represents a potential conflict of interest, the firm's fiduciary duty requires it to act in clients' best interests at all times.
Echo Wealth Management Background
Established in 2015, Echo offers a range of wealth management services, including portfolio management, financial planning and pension and consulting. The firm’s owner is founder and president Fang Echo Huang, who has 25 years of experience in the financial services industry.
Echo Wealth Management Investment Strategy
Echo Wealth Management focuses on "long-term results by allocating capital to areas of the market where we perceive the most attractive relative valuations and therefore the greatest potential returns," according to its Form ADV. The firm says its investment philosophy is guided by modern portfolio theory (MPT), which attempts to maximize returns for a given risk level.
Echo also has an investment committee that handles its portfolio construction process. The firm regularly employs asset class diversification in an effort to protect client portfolios from large swings.
Phillip James Financial
Most of Phillip James Financial's clients do not have a high net worth. The firm's advisory team includes one certified public accountant (CPA) and one chartered financial analyst (CFA).
This firm has a robust set of services available to its clients on a discretionary basis. For example, you'll find offerings like financial planning, investment management, tax planning, tax preparation, budgeting, risk management, college fund planning and more.
The firm has a $500,000 minimum investment requirement for prospective clients, though it may be willing to waive this under certain circumstances. This is a fee-only firm, which means all of its compensation comes from client-paid fees.
Phillip James Financial Background
Phillip James Financial was founded in 2010. The firm is owned by its two founders, Phillip Christenson and James Sexton. The pair created the firm to offer clients the benefits of a long-term, globally diversified and consistent investment strategy.
Phillip James Financial Investing Strategy
Phillip James Financial meets with clients individually before investing any of their money. This client-advisor discussion is meant to bring to light exactly what type of investment portfolio would be best for each client. The advisor will then determine things like the client's risk tolerance, liquidity needs, time horizon and financial goals. Cash flow needs will also be accounted for, especially as retirement draws closer.
At the heart of the firm's investment strategy is modern portfolio theory, which attempts to maximize the portfolios return given an investors risk profile. As a result, we construct and manage broadly diversified portfolios using tax efficient and low-cost exchange-traded funds (ETFs) and mutual funds.
Each client’s portfolio is then monitored and re-balanced continually to maintain their ideal asset allocation to stocks and bonds.