Best Financial Advisors in Minneapolis

Article Approved By Banking Expert

This article has been reviewed and deemed factual by our content auditor with 8 years of banking experience.

Article Approved By Banking Expert

This article has been reviewed and deemed factual by our content auditor with 8 years of banking experience.

Minneapolis, Minnesota is a city known for its beautiful architecture, its cutting-edge artistic designs, and its proximity to some of the most beautiful lakes in the world. But in addition to being a wonderful place to live, Minneapolis is also a great place to work and build your wealth.

Because of this, Minneapolis is also home to a number of Minnesota’s best financial advisors, which means you will have plenty of help on your quest to secure a stable financial future.

However, so many choices can make your search and decision an overwhelming process. So, to help you, we’ve done the bulk of the research for you and created a condensed list of the best firms in the city. Here are our picks for the best five financial advisors in the city of Minneapolis, Minnesota.

Wealth Enhancement Advisory Services, LLC

Managing more than $7.39 billion in assets on behalf of its clients, Wealth Enhancement Advisory Services, LLC is the largest financial advisory firm in Minneapolis. To become a client, you will need to have assets worth at least $25,000, but some accounts require a minimum of $250,000. This means that while this firm does serve many high-net-worth individuals, you do not necessarily need to be extremely wealthy to work with them.

Wealth Enhancement Advisory Services is such an outstanding wealth management firm that they have been named a top financial advisor by Financial Advisor Magazine, Barron’s, and others.

In general, there four things this company focuses on when it is doing financial planning for its customers: effective diversification, active management, tax efficiency, and cost efficiency. Furthermore, to access the absolute best opportunities, this company monitors over 70 markets around the world. They are willing to go the extra mile for their clients, which is one of the reasons they are so popular.

You can expect the following working with Wealth Enhancement Advisory Services LLC:

  • Fee-based compensation structure
  • Investing strategies that are highly creative and that have proven to be very effective in the past
  • A strong focus on reducing tax obligations in order to help you keep the highest percentage of your money

Fiduciary Counselling Inc.

Fiduciary Counselling Inc. is another one of Minneapolis’s finest financial advisory companies. It manages over $5.56 billion in assets and has been in business since 1941. There is no minimum investment requirement for opening an account, but there is a $3,000 per account minimum fee, which makes this firm a good choice for those who have at least $250,000 to invest. But in theory, anyone can work with this firm.

In terms of an investment strategy, FCI creates a custom portfolio for each of its clients. However, these portfolios are based around a number of models that the company already has in place. But there is still a large degree of customization that goes into portfolio designs, especially if you have specific needs. In general, however, the company focuses on creating long-term investment solutions and does not focus on short-term market movements.

You can expect the following working with Fiduciary Counselling Inc.:

  • Fee-only compensation structure to eliminate conflicts of interest
  • Extremely personalized financial plans that are unique to your needs
  • A strong focus on long-term success

Riverbridge Partners

With over $5.04 billion in assets under management, Riverbridge Partners is a true force to be reckoned with in the Minneapolis financial planning industry. This company is extremely exclusive and only serves those with a high net worth; the minimum investment required to open an account is $2 million.

Riverbridge Partners’ exclusivity means you will receive significantly more personal attention than you would at a financial advisory firm that serves anyone.

There are 18 professional financial advisors who manage wealth for clients at this firm, and they look for the following things when selecting companies to invest in: sound culture and management, differentiated market position, strong unit growth, conservative accounting, and internally-financed growth.

You can expect the following working with Riverbridge Partners:

  • Fee-based compensation structure
  • Preference for investing in small-to-mid-capitalization companies
  • A strong focus on achieving your financial goals.

CliffLarsenAllen Wealth Advisors LLC

Fourth on our list is CliffLarsenAllen Wealth Advisors LLC, which manages over $3.4 billion in assets for its clients. If you would like to work with CLA Wealth Advisors, there is no minimum asset requirement for your investing account. However, there is a minimum of $500 per year fee, making the effective minimum of around $50,000.

When it comes to investing, the company prefers equity securities, cash, and fixed income for asset allocation. There are a number of factors the firm takes into consideration when it is making investment decisions for you, such as interest rates, inflation, overall market conditions, sector history, energy prices, and fiscal policy.

Generally speaking, the firm prioritizes diversification in order to reduce your risk exposure and increase your chances of generating solid returns.

You can expect the following working with CliffLarsenAllen Wealth Advisors LLC:

  • Fee-based compensation model
  • Intelligent diversification of assets based on a number of key factors
  • Financial planning that focuses around preparing you for maintaining your desired lifestyle in retirement.

Focus Financial

The last firm on our list, Focus Financial, manages over $2.7 billion in assets and has no account minimum, meaning it is not only large and successful but also accessible.

There are 152 financial advisors who do the financial planning for Focus Financial, making this one of the larger firms on the list in terms of staff.

The advisors at this firm are known for taking a slightly different approach as compared to many of their counterparts. For example, Focus Financial considers your cost of living, your saving tendencies, your education needs, and your cash flow before they create a financial plan for you. They also frequently invest in real estate investment trusts, which is something that many other financial advisors do not do.

You can expect the following working with Focus Financial:

  • Fee-based compensation structure
  • Thorough analysis of many different aspects of your financial situation in order to make the right investments for you
  • Periodic rebalancing to adjust your portfolio to new research, market conditions, and life changes

Conclusion

Whether you decide to go with Riverbridge Partners, Fiduciary Counselling, or any of the other firms on this list, there is a very good chance you will achieve the results you desire. This is because all of these companies have already proven they are the best that Minneapolis has to offer. However, you should still conduct further research and speak with representatives of at least a few of the firms before you make your final decision about which company to go with.

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