Top Financial Advisors in Minneapolis, MN

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Choreo serves both high-net-worth and non-high-net-worth individuals. The fee-baased firm also works with institutional clients, including retirement plans, charities, insurance companies and businesses.

Clients engaging in investment services are charged a percentage of assets under management, which generally does not exceed 1.5% annually.

As a fee-based firm, certain advisors at this firm can sell financial products on a commission basis. While this can present potential conflicts of interest, the firm’s fiduciary duty requires them to act in the clients’ best interests.

Choreo Background

Choreo is headquartered in Minneapolis and has 39 locations nationwide, with more than 185 teammates serving clients.

Founded in 2000, the firm is registered with the U.S. Securities and Exchange Commission (SEC) as an investment advisor.

Choreo Investment Strategy

The firm offers clients a variety of services, including financial planning, investment management, estate planning, charitable planning and tax planning.

Investments commonly used by Choreo include individual stocks, bonds, U.S. Treasuries, certificates of deposit (CDs), ETFs, exchange-traded notes, closed-end funds, mutual funds, private pooled investment vehicles, structured notes and alternative investments.

As with other firms, Choreo says that it makes financial recommendations based on a client’s objectives, risk tolerance and time horizon, among other considerations.

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Focus Financial Network (FFN) serves both high-net-worth individuals and non-high-net-worth individuals, as well as retirement plans, charities and businesses.

Investment management clients get charged a percentage of assets under management. Smaller accounts generally pay a higher annual percentage, while larger accounts get charged a smaller fee.

As a fee-based firm, some members of FFN's advisory team can sell financial products on a commission basis. This can present a potential conflict of interest, but the firm’s fiduciary duty mandates that client interests are put first.

Focus Financial Network Background

FFN is headquartered in Minneapolis and offers various services, including financial planning, insurance planning, retirement planning, asset management and business planning services.

The firm was founded in 1993 and is owned by several individuals. None of these individuals own a share that is greater than 20%.

Focus Financial Network Investment Strategy

Investments commonly used by FFN include a mix of stocks, bonds, options, exchange-traded funds, mutual funds and other securities.

When putting a financial strategy together, FFN says that it considers financial goals and objectives, time horizon, risk tolerance, cash flow analysis, cost of living needs, education needs and savings tendencies, as well as other financial information.

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Founded in 1980s, Riverbridge has provided investment management and financial planning services to high-net-worth individuals and institutions in Minnesota for more than 35 years.

The firm also works with institutional clients, including banks, investment companies, pooled investment vehicles, retirement plans, charities, government entities, insurance companies, businesses and Taft-Hartley plans.

Advisors at this fee-based firm hold multiple certifications like chartered financial analyst (CFA), certified financial planner (CFP), certified public accountant (CPA) and chartered financial consultant (ChFC).

Riverbridge Background

The company was founded in 1987 by Mark Thompson.Currently, Northill Capital Group is the majority owner. Several employees also have stakes.

The firm's main advisory service is investment management, diversification and asset allocation planning. Financial planning services are also available.

Riverbridge Investment Strategy

Riverbridge highlights building its investment strategies for long-term returns. Advisors are growth-oriented and have years of expertise. The firm looks for companies to invest in that have strong earnings power.

The firm evaluates specific investments based on five factors: sound culture and management, strong unit growth, differentiated market position, internally financed growth and conservative accounting. The firm believes that these factors provide strong insight into whether a company has earnings power and intrinsic value.

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NorthRock Partners is a large advisory firm with billions of dollars in client assets under management. It works with both high-net-worth and non-high-net-worth individuals, as well as charities and businesses.

The advisory team at NorthRock holds a range of certifications that include certified financial planner (CFP), certified private wealth advisor (CPWA), chartered financial analyst (CFA) and more.

This team also has members who can sell insurance products on a commission basis. While this presents a potential conflict of interest, the firm's fiduciary duty means it must act in clients' best interests.

NorthRock Partners Background

NorthRock Partners was founded in 2013 by Rob Nelson and Jim Lund. Today, the firm is owned by Nelson and lead advisor Todd Moser.

This firm offers a wide range of advisory services, including retirement planning, investment management, tax prep and advice, estate planning, insurance planning and charitable gift planning, among others.

NorthRock Partners Investing Strategy

The advisory team at NorthRock Partners will work with clients on an individual basis to determine what kind of investor they are.

This conversation will inform NorthRock in building a portfolio plan to help you achieve long- and short-term financial goals. 

Some important factors include risk tolerance, time horizon, income needs and liquidity.

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With a $150,000 minimum annual fee, Envoi only serves a handful of high-net-worth individuals and charities.

As a fee-only firm, all of Envoi's compensation comes from client-paid fees.

The firm provides centralized financial planning and management, cash flow budgeting and expense management, discretionary investment management, income and estate tax planning, risk management and wealth transfer planning, oversight, among its services.

Envoi Background

Brenda Sallstrom, Ryan Steensland and Jim Sand remain the owners of the firm they founded in 2009.

The Envoi team holds multiple certifications, including chartered financial analysts (CFAs), among others.

Envoi Client Experience

Diversification is central to the firm's investment strategy. Its process for developing asset allocations is involved, as its client families are multi-generational and have varying time horizons and goals. It generally recommends sub-advisors to manage portfolios and supervises these sub-advisors.

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Great Waters Financial is a fee-based advisory firm that serves both high-net-worth individuals and non-high-net-worth individuals. Institutional clients include charities and businesses.

The firm requires a minimum account balance of $100,000 for investment services. Clients will get charged a fee that is based on a percentage of assets under management. This annual rate can start at 1.25% for the first $500,000 and drop to 0.80% for balances over $7 million. Fees for accounts above $10 million are negotiable.

As a fee-based firm, some members of the advisory team at Great Waters Financial can sell financial products on a commission basis. While this presents a potential conflict of interest, the firm’s fiduciary duty requires them to act in the clients’ best interests.

Great Waters Financial Background

Headquartered in Minneapolis, Great Waters Financial registered with the U.S. Securities and Exchange Commission (SEC) as an investment advisor in 2021.

The firm is owned by Michael Palumbo, Justin Halverson and Elijah Kovar.

Great Waters Financial Investment Strategy

The firm offers clients a variety of services, including:

• Financial planning
• Asset management 
• Tax planning
• Risk management
• Estate planning

Great Waters Financial says that its primary investment strategies focus on both long-term and short-term purchases.

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Compass Capital Management's advisory staff holds multiple certifications, including chartered financial analysts (CFAs) and chartered alternative investment analysts (CAIAs), among other designations.

This is a fee-only firm, meaning all of its compensation comes from client-paid fees.

High-net-worth individuals are the most common clients at Compass Capital. Other clients the firm works with include non-high-net-worth individuals, retirement plans, charitable organizations and businesses.

The firm generally works with clients who have a minimum account size of $1 million.

Compass Capital Management Background

Compass Capital Management is one of the older firms on our list, having been established back in 1988. The firm is still owned by its founder, Charles Kelley, who has around 45 years' experience in the financial services industry.

Advisors at Compass Capital will alter the firm's financial planning and investment management services to your specific needs.

Compass Capital Management Investing Strategy

The basis for every client portfolio managed by Compass Capital Management is an asset allocation plan based around your personal needs and situation. This will cover things like your risk tolerance, financial goals, income needs and time horizon. The firm will put all of this guiding information into a document called an investment policy statement (IPS).

Some of the portfolio strategies the firm uses include:

• Equity: generally consists of 25 or more mid- to large-cap growth stock companies
• Fixed-Income: focuses on high-quality intermediate-term taxable and non-taxable bonds
• Balanced portfolios: combines stocks, bonds and cash into a single portfolio
• External mutual fund managers: involves the selection of a handful of mutual fund managers

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Everest Financial Group works both non-high-net-worth and high-net-worth clients. 

The team of advisors here includes certified financial planners (CFPs) anong other designations.

Some of the firm's advisors may receive commissions from securities or insurance sales. Despite the potential conflict of interest this induces, the firm's fiduciary duty requires it to act in clients' best interests at all times.

Everest Financial Group Background

Everest Financial Group was founded in 2005. The firm is owned by a group of employees: John W. MacKimm II, William E. Hunstock, Nikolas P. Wogstad, T. Stanley Diong, and Dennis Tiow Chan.

Personalized investment management and financial planning are both available at this firm. Financial planning can cover topics like retirement planning, estate planning, business planning, college fund planning and more.

Everest Financial Group Investing Strategy

Everest Financial Group often uses model portfolios with its clients. That means the firm and your advisor will determine which model portfolio is best for you based your situation. That will involve your risk tolerance, time horizon, income needs and financial goals. Each model portfolio has its own asset allocation.

When it comes to trading investments, the firm may use long-term trading, short-term trading and short sales. Long-term trading involves holding assets for a year at a time, whereas short-term trading means trading before a calendar year has passed.

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Capital Management Associates has a sizable staff of advisors. This group includes certifications like certified financial planner (CFP), accredited investment fiduciary (AIF), certified public accountant (CPA) and more.

The firm's client base includes both non-high-net-worth and high-net-worth individuals, though it works with more who with people who do not have high net worths. It also serves pension plans, charitable organizations and corporations.

Capital Management Associates does not state a specific account minimum, but notes that a manager may require a minimum amount of assets for its managed account program.

The fee-based firm employs advisors who may receive compensation for securities transactions or insurance sales, which is a potential conflict of interest. However, the firm is a fiduciary, which means its employees must always act in clients' best interests. 

Capital Management Associates Background

Capital Management Associates has been in business since 1982. The firm's principal shareholders are CEO and chairman Gregory Stroh, president Thomas Luing, chief compliance officer (CCO)/chief financial officer (CFO) Melissa Glennie and CMA Financial, Inc.

The firm offers a managed account program, individual portfolio management and a range of financial planning services. Its financial planning services can address tax and cash flow, investments, insurance, retirement, death and disability and estate planning. Additionally, the firm provides accounting services and insurance through certain employees.

Capital Management Associates Investing Strategy

Like most other firms, Capital Management Associates takes into account clients' needs, investment objectives, risk tolerance and time horizon when creating and managing their portfolios. The firm establishes this information through discussions and a data-gathering process that may also touch on a client's previous investment history, family composition and background. Clients have the ability to impose reasonable restrictions on their portfolios.

The firm uses a wide range of investment types and strategies in its client portfolios. More specifically, it will utilize long-term purchases, short-term purchases and option writing.

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Financial Perspectives does not have a specified asset minimum.

The firm works with both non-high-net-worth and high-net-worth individuals, as well as retirement plans and charities.

Some advisors at the fee-based firm are also broker-dealer representatives and insurance agents, and they can earn commissions if clients purchase certain securities or insurance products. This creates the potential for a conflict of interest. That said, the firm is bound by its fiduciary duty to always act in clients' best interests.

Financial Perspectives Background

Financial Perspectives was founded in 1986 by Michael T. Dugan. After Dugan became terminally ill, his younger brother, Dan Dugan, took control of the firm in 2004. Dan is currently the principal owner and president.

Financial Perspectives is a full-service wealth management firm, and its team describes themselves as financial planners. The firm's financial planning process, which strives to address the accumulation, preservation and passing on of wealth, strives to “simplify the complexity.” The firm offers services related to investments, insurance, taxes, retirement, estate planning and philanthropy. 

Financial Perspectives Investing Strategy

Financial Perspectives considers investment advice part of its comprehensive financial planning process. Rather than take a one-size-fits-all approach, the firm tailors clients' portfolios to all aspects of their financial lives, including their unique goals and objectives, risk tolerance, income needs and generational and philanthropic desires. The firm says that a number of its strategies also take into account clients' estate planning and tax needs.

The practice says that it will use a variety of investment strategies across domestic and international markets. It primarily recommends mutual funds, but it may also utilize exchange-traded funds (ETFs), stocks, bonds, real estate investment trusts, managed investment programs, variable annuities, retirement plans, separately managed accounts and alternative investments.