It’s easy to search on Google to find unlimited teams of professionals to help you understand how your IRA, 401(k) and other investment options factor into your long-term goals. But how do you know which financial advisor is the right one to help you with your long-term investment strategy? Take a look at Benzinga’s guide to help you find the right financial advisors in Minneapolis, MN.
Quick Look at the Best Financial Advisors in Minneapolis, MN:
- Best for Institutions: HJ Sims
- Best Robo-Advisor: M1 Finance
- Best for Education: Focus Financial
- Best Portfolio Analysis: Personal Capital
- Best for Customer Service: DSG Advisors
Best for Institutions: HJ Sims
If you’re an individual investor, HJ Sims can work with you to develop a plan that will help you meet your financial needs and goals. It offers a number of services, including individual portfolio evaluation, goal assessment, full portfolio management and retirement planning. HJ Sims also offers exclusive access to new bond issues. HJ Sims provides a free bond portfolio analysis to prospective clients. This offer can be a great way to see if you’re currently on track to reach your financial goals.
You can find financial advisor options for businesses and institutions as well. HJ Sims provides its institutional clients with unique tax-exempt and taxable opportunities.
- Customizable Auto Investing
Best Robo-Advisor: M1 Finance
M1 Finance offers financial services in a single, easy-to-use platform. It features innovative technology, useful tools and the ability to manage your money how you see fit. You can schedule weekly, biweekly or monthly deposits to grow your money.
You’ll have the option to choose M1’s free account or a premium-level account at $125 per year. The free Core account offers no trading commissions and no management fees. It also comes with a free checking account and a 3.5% base rate for its portfolio line of credit.
M1’s premium-level account is called the Plus account. It comes with all of the features of the Core account, a 2% rate for its portfolio line of credit, access to a 2nd daily trade window and more.
Best for Education: Focus Financial
Focus Financial was built on the concept of supporting its financial advisors so they can better support you. The independent firm provides expert planning in your best interest.
Focus Financial offers access to SaveAndInvest.org, a nonprofit dedicated to educating consumers about their financial health. The organization’s website provides objective financial management tools and information.
Focus Financial also works with businesses. Business clients can partner with Focus Financial to offer InSite™ Financial Education Seminars to introduce employees to common financial planning topics like retirement planning. Every InSite™ event is free of charge and obligation.
This firm volunteers in classrooms throughout the Twin Cities in partnership with BestPrep, a statewide nonprofit dedicated to developing students’ business, career and financial literacy skills.
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Other
- Financial planning services
- Pension consulting services
- Selection of other advisers (including private fund managers)
Address
1300 GODWARD STREET NE SUITE 5500MINNEAPOLIS MN, 55413
Phone number
651-631-8166
- High Net Worth Individuals
Best Portfolio Analysis: Personal Capital
Personal Capital offers you the convenience of having all of your accounts in the same place. It even advertises the ability to track your entire portfolio for free.
You’ll benefit from no hidden fees, no trade fees and no trailing fees. Its team of experts can deliver custom investing strategies based on your total net worth and other factors.
Personal Capital offers a number of financial tools to help you steer your financial outlook. Online tools include an investment checkup, retirement planner, fee analyzer and more. The firm’s team of advisors is available by phone, chat, email or web conference when you need investment advice.
Best for Customer Service: DSG Advisors
DSG Advisors strives to help you coordinate all areas of your financial life. These advisors are dedicated to building personal relationships based upon mutual trust and understanding. DSG Advisors can help you gain confidence if you’re less familiar with the world of investing and financial planning.
DSG Advisors provides products and services such as whole life insurance, disability insurance, long-term care insurance, tax planning, investor education and family values coordination and education. Use its financial planning services to help inform your investment, allocation and wealth management strategies. DSG Advisors aims to customize service based on your needs and goals.
Hightower’s investment strategy is rooted in the idea that you need a financial advisor who intimately understands your goals and needs as an investor. When you begin with Hightower, you’ll tell the company more about your goals and progress towards them. Hightower will then coordinate your investments with an individual advisor who aligns with your investing strategy and asset preference. With over $48 billion in assets under management, Hightower is one of the largest financial advisors in Chicago — and the rest of the country. The company offers financial planning services to individuals, corporations, universities, nonprofits and state and local governments. There’s no minimum account balance required to begin working with Hightower.
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Other
- Financial planning services
- Selection of other advisers (including private fund managers)
- TREASURY MANAGEMENT FOR CORPORATE CLIENTS
Address
200 W. MADISON ST. SUITE 2500CHICAGO IL, 60606
Phone number
312-962-3800
Which Financial Advisors in Minneapolis, MN is Right for Me?
It can be helpful to have a financial planner and there are a number of options to choose from, depending on your comfort level. Do your research, consider your goals and the level of support you need to find the right firm and products for you.
Frequently Asked Questions
Which certifications should my financial planner have?
A: You should be aware that financial planners don’t all have the same education and professional backgrounds. The most common certification you’ll see is Certified Financial Planner, or CFP®. This is a board certification that designates expertise in the areas of financial planning, taxes, insurance, estate planning and retirement.
There are additional certifications that indicate more detailed expertise:
- Chartered Financial Analyst (CFA)
- Certified Private Wealth Advisor (CPWA)
- Accredited Estate Planner (AEP)
- Accredited Financial Counselor (AFC)
- Chartered Retirement Planning Counselor (CRPC)
More accreditations exist, and you can verify any of these credentials if you’d like. All you need to do is call the organization to confirm that your financial planner has the credential it claims to have. The organization can also tell you if the financial planner remains in good standing.
Can financial advisors help with debt?
Debt is a serious concern for many people. Your financial advisor can take your desire to pay off your debt into consideration as he develops your customized strategy.
Can I talk to a financial advisor for free?
Yes, your first consultation is almost always free. Keep in mind the financial advisor may suggest that you buy financial products they sell.
Methodology
To determine the top financial advisors in Minneapolis, we pored through all SEC-registered advisory firms who have an office in Minneapolis. We winnowed the list by only including advisors who are registered fiduciaries, have no past disclosures and have minimal personal conflicts of interest. To further break down the list to the true top advisors in the area, we gave weight to advisors that offer both investment management and planning, have no conflicts of interest, have offices in multiple states, have a wrap fee program and over $50 million in assets under management.
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