Dana Menard
Twin Cities Wealth Strategies, Inc.
Maple Grove, MN
Min $0
CFP®RLP®CEPA®+1
Advice by Phone or WebBaby Boomers+38
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Fiduciary advisors in Minnesota.
Browse 3 verified fee-only fiduciary advisors in Minnesota. Every one has earned the Orange Check badge.
CitiesOwatonna1Minneapolis1Maple Grove1
Showing 1 to 3 of 3 advisors in Minnesota
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About fiduciary advisors in Minnesota
Minnesota has a mature and well-developed independent financial planning market, with Minneapolis-St. Paul ranking among the top Midwest metros for the density of fee-only Registered Investment Advisers. The state's large Fortune 500 corporate base, major healthcare systems, and significant state and local government workforce create strong demand for fiduciary advice. Every advisor verified by Fiduciary Check in Minnesota has been confirmed against SEC and FINRA records with no material disciplinary history.
Minnesota's Department of Commerce regulates state-registered investment advisers. The Twin Cities metro has one of the higher concentrations of independent, fee-only RIAs in the Midwest, and many of the larger practices in the state register at the SEC level. Rochester (home to the Mayo Clinic) has a specialized market for physicians, researchers, and medical professionals that includes a growing number of fee-only advisors.
Minnesota's advisor market is relatively sophisticated; the fiduciary distinction is well understood among professional communities in the metro. Outside the Twin Cities, the supply of independent advisors is thinner, and many Greater Minnesota residents work with advisors in Minneapolis or via virtual service arrangements.
Common questions
Fiduciary advisors in Minnesota: frequently asked questions
- What is the difference between a fiduciary and a broker in Minnesota?
- In Minnesota, a Registered Investment Adviser or Investment Adviser Representative is a fiduciary: legally required to recommend what is best for you and to disclose all conflicts of interest. A FINRA-registered broker follows Regulation Best Interest, a weaker standard that allows selling higher-commission products as long as they are not clearly unsuitable. The Minnesota Department of Commerce regulates state-registered investment advisers.
- How do I verify a financial advisor in Minnesota?
- Search at adviserinfo.sec.gov (SEC IAPD) and brokercheck.finra.org (FINRA BrokerCheck). For state-registered advisers, also check the Minnesota Department of Commerce at mn.gov/commerce.
- Are there fiduciary advisors in the Twin Cities who specialize in corporate employees?
- Yes. Minneapolis-St. Paul is home to headquarters for Target, UnitedHealth Group, 3M, General Mills, and others. The metro has fee-only RIAs who specialize in equity compensation, deferred compensation plans, and pension decision support for employees and executives at major Minnesota corporations. Use the Fiduciary Check directory filtered to Minnesota and look for advisors who list equity compensation or corporate executives as a specialty.
- What should Minnesota healthcare professionals know about finding a fiduciary advisor?
- Minnesota's large healthcare economy (anchored by the Mayo Clinic, Fairview, Allina, and other major health systems) has produced a subset of advisors who specialize in physician financial planning, including the complex tax planning around practice ownership, PSA limits, and student loan payoff strategies. Ask any prospective advisor whether they have prior experience with physician clients.