{ "path": "/advisors/mn/fee-only", "url": "https://advisorcensus.com/advisors/mn/fee-only/page/4", "page_type": "state_fee", "title": "Fee-only financial advisors in Minnesota", "filters": {}, "scope_total": 192, "faq": [ { "q": "How many financial advisory firms are there in Minnesota?", "a": "AdvisorCensus lists 522 investment advisory firms with a principal office in Minnesota, from Form ADV filings as of October 2026: 278 SEC-registered, 207 state-registered, and 37 exempt reporting advisers. Firms may request removal, so the count can differ slightly from the number of firms that file Form ADV." }, { "q": "How many fee-only financial advisors are in Minnesota?", "a": "192 of the 522 firms meet AdvisorCensus's fee-only test: paid only by a percentage of assets, hourly charges, fixed fees, or subscription fees on Form ADV Item 5.E (no commissions, performance-based fees, or other compensation), with no sales-related compensation ties in the same filing: no employee registered with a broker-dealer or licensed as an insurance agent (Item 5.B), no brokerage, insurance, real estate, or other product sales business (Item 6.A), no related broker-dealer, insurance company, real estate broker, or futures commission merchant (Item 7.A), and no referral fees from others or other sales interest (Item 8). Form ADV has no fee-only box, so this is derived from the filing; it is not a fee-only certification, and a firm's own page lists its compensation arrangements as filed." }, { "q": "How many financial advisors in Minnesota offer financial planning?", "a": "337 of the 485 firms in Minnesota that answer Form ADV Item 5.G, which asks what advisory services a firm provides, report financial planning services, as of October 2026. Exempt reporting advisers do not answer Item 5.G. Each firm page lists every advisory service the firm reports." }, { "q": "Are the financial advisors in Minnesota fiduciaries?", "a": "Every firm on this page is an investment adviser that files Form ADV, and an investment adviser owes its clients a fiduciary duty under federal law, made up of a duty of care and a duty of loyalty: it must act in the client's best interest and not put its own interests ahead of the client's, and must eliminate its conflicts of interest or disclose them fully and fairly. Form ADV has no fiduciary box because the duty comes with being an investment adviser. The duty covers the firm's advice; a firm or its people may also sell securities through a broker-dealer or insurance as licensed agents, roles held to other standards. The 192 firms that meet AdvisorCensus's fee-only test report none of those sales ties." }, { "q": "How do I check whether a financial advisor has disciplinary disclosures?", "a": "Each firm page shows how many Form ADV Item 11 disciplinary questions the firm answered yes and links to the firm's record on the SEC's Investment Adviser Public Disclosure site (adviserinfo.sec.gov), where the detail of each disclosure is public. Individual advisers' records are on the same site and on FINRA BrokerCheck." }, { "q": "Does AdvisorCensus rate, verify, or recommend these firms?", "a": "No. The directory shows what each firm filed, in alphabetical order unless you choose another sort, and no firm's position depends on payment. Firms that claim their page can add a description and links, marked as provided by the firm; the filed facts are never changed by that content." }, { "q": "What does regulatory assets under management mean?", "a": "Regulatory assets under management (RAUM) is the figure a firm reports on Form ADV Item 5.F: the securities portfolios it provides continuous and regular supervisory or management services for, at market value, including assets managed without discretion. It measures scale, not performance or quality." } ], "period": "2026-10-01", "answer_paragraph": "AdvisorCensus lists 192 investment advisory firms with a principal office in Minnesota that meet AdvisorCensus's fee-only test: paid only by client fees on Form ADV Item 5.E, with no employee registered with a broker-dealer or licensed as an insurance agent, no brokerage, insurance, or real estate sales business or related company, and no referral fees from others, drawn from Form ADV filings as of October 2026. Firms are listed alphabetically; sort by years registered or assets band using the controls below, and read the methodology block for how this page is derived.", "about_market": null, "citation": "AdvisorCensus. Fee-only financial advisors in Minnesota: 192 firms from Form ADV filings as of October 2026.", "total_firms": 192, "page": 4, "total_pages": 4, "sort": "name", "registration_types": { "sec": 79, "state": 113, "exempt": 0 }, "fee_model_mix": [ { "code": "fee-only", "count": 192 }, { "code": "percentage_of_aum", "count": 183 }, { "code": "hourly", "count": 80 }, { "code": "subscription", "count": 2 }, { "code": "fixed", "count": 117 }, { "code": "commissions", "count": 0 }, { "code": "performance_based", "count": 0 }, { "code": "other", "count": 0 }, { "code": "not_reported", "count": 0 } ], "years_registered_distribution": [ { "code": "under_5", "count": 46 }, { "code": "5_to_9", "count": 57 }, { "code": "10_to_19", "count": 51 }, { "code": "20_plus", "count": 38 }, { "code": "not_reported", "count": 0 } ], "raum_band_distribution": [ { "code": "under_25m", "count": 60 }, { "code": "25m_100m", "count": 50 }, { "code": "100m_500m", "count": 44 }, { "code": "500m_1b", "count": 17 }, { "code": "1b_5b", "count": 13 }, { "code": "over_5b", "count": 2 }, { "code": "not_reported", "count": 6 } ], "firms": [ { "crd_number": 157308, "name": "Solidity Financial LLC", "name_as_filed": "SOLIDITY FINANCIAL LLC", "url": "https://advisorcensus.com/firm/solidity-financial-llc-shoreview-mn-157308", "city": "Shoreview", "state": "MN", "years_registered": 15, "raum_band": "25m_100m", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 160282, "name": "Somerset Group LLC", "name_as_filed": "SOMERSET GROUP LLC", "url": "https://advisorcensus.com/firm/somerset-group-llc-wayzata-mn-160282", "city": "Wayzata", "state": "MN", "years_registered": 14, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 281976, "name": "Sona Wealth, Sona Wealth Management, Sona Wealth Advisors", "name_as_filed": "SONA WEALTH, SONA WEALTH MANAGEMENT, SONA WEALTH ADVISORS", "url": "https://advisorcensus.com/firm/sona-wealth-sona-wealth-management-sona-wealth-advisors-281976", "city": null, "state": null, "years_registered": 2, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum", "hourly", "subscription", "fixed" ], "enhanced": false }, { "crd_number": 115844, "name": "Spencer Financial Advisors", "name_as_filed": "SPENCER FINANCIAL ADVISORS", "url": "https://advisorcensus.com/firm/spencer-financial-advisors-115844", "city": null, "state": null, "years_registered": 27, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 133157, "name": "Stairway Partners, LLC", "name_as_filed": "STAIRWAY PARTNERS, LLC", "url": "https://advisorcensus.com/firm/stairway-partners-llc-minneapolis-mn-133157", "city": "Minneapolis", "state": "MN", "years_registered": 21, "raum_band": "1b_5b", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 112413, "name": "Standard Valuations, Inc.", "name_as_filed": "STANDARD VALUATIONS, INC.", "url": "https://advisorcensus.com/firm/standard-valuations-inc-white-bear-lake-mn-112413", "city": "White Bear Lake", "state": "MN", "years_registered": 30, "raum_band": "not_reported", "compensation_types": [ "fixed" ], "enhanced": false }, { "crd_number": 111447, "name": "Stonebridge Capital Advisors LLC", "name_as_filed": "STONEBRIDGE CAPITAL ADVISORS LLC", "url": "https://advisorcensus.com/firm/stonebridge-capital-advisors-llc-st-paul-mn-111447", "city": "St. Paul", "state": "MN", "years_registered": 29, "raum_band": "1b_5b", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 121007, "name": "Strategic Financial Planning, Inc.", "name_as_filed": "STRATEGIC FINANCIAL PLANNING, INC.", "url": "https://advisorcensus.com/firm/strategic-financial-planning-inc-minnetonka-mn-121007", "city": "Minnetonka", "state": "MN", "years_registered": 6, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum", "hourly" ], "enhanced": false }, { "crd_number": 324490, "name": "Summit Advisor Group", "name_as_filed": "SUMMIT ADVISOR GROUP", "url": "https://advisorcensus.com/firm/summit-advisor-group-bloomington-mn-324490", "city": "Bloomington", "state": "MN", "years_registered": 3, "raum_band": "25m_100m", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 135496, "name": "Summit Creek Advisors", "name_as_filed": "SUMMIT CREEK ADVISORS", "url": "https://advisorcensus.com/firm/summit-creek-advisors-minneapolis-mn-135496", "city": "Minneapolis", "state": "MN", "years_registered": 17, "raum_band": "500m_1b", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 148326, "name": "Superior Financial, LLC", "name_as_filed": "SUPERIOR FINANCIAL, LLC", "url": "https://advisorcensus.com/firm/superior-financial-llc-rochester-mn-148326", "city": "Rochester", "state": "MN", "years_registered": 0, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 110105, "name": "Symmetric Advisors Inc", "name_as_filed": "SYMMETRIC ADVISORS INC", "url": "https://advisorcensus.com/firm/symmetric-advisors-inc-minnetonka-mn-110105", "city": "Minnetonka", "state": "MN", "years_registered": 14, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 283582, "name": "Systelligence, LLC", "name_as_filed": "SYSTELLIGENCE, LLC", "url": "https://advisorcensus.com/firm/systelligence-llc-bloomington-mn-283582", "city": "Bloomington", "state": "MN", "years_registered": 10, "raum_band": "500m_1b", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 105245, "name": "Tealwood Asset Management", "name_as_filed": "TEALWOOD ASSET MANAGEMENT", "url": "https://advisorcensus.com/firm/tealwood-asset-management-minneapolis-mn-105245", "city": "Minneapolis", "state": "MN", "years_registered": 39, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum", "fixed" ], "enhanced": false }, { "crd_number": 165154, "name": "Telos Solutions", "name_as_filed": "TELOS SOLUTIONS", "url": "https://advisorcensus.com/firm/telos-solutions-165154", "city": null, "state": null, "years_registered": 13, "raum_band": "25m_100m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 290435, "name": "The Hatlestad Group", "name_as_filed": "THE HATLESTAD GROUP", "url": "https://advisorcensus.com/firm/the-hatlestad-group-edina-mn-290435", "city": "Edina", "state": "MN", "years_registered": 8, "raum_band": "25m_100m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 159271, "name": "Thomas Leo Advisory, LLC", "name_as_filed": "THOMAS LEO ADVISORY, LLC", "url": "https://advisorcensus.com/firm/thomas-leo-advisory-llc-minneapolis-mn-159271", "city": "Minneapolis", "state": "MN", "years_registered": 8, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 171525, "name": "Thoughtful Financial Planning, LLC", "name_as_filed": "THOUGHTFUL FINANCIAL PLANNING, LLC", "url": "https://advisorcensus.com/firm/thoughtful-financial-planning-llc-minneapolis-mn-171525", "city": "Minneapolis", "state": "MN", "years_registered": 12, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 156559, "name": "Torchlight Financial", "name_as_filed": "TORCHLIGHT FINANCIAL", "url": "https://advisorcensus.com/firm/torchlight-financial-edina-mn-156559", "city": "Edina", "state": "MN", "years_registered": 15, "raum_band": "25m_100m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 284610, "name": "Trailhead Planners, LLC", "name_as_filed": "TRAILHEAD PLANNERS, LLC", "url": "https://advisorcensus.com/firm/trailhead-planners-llc-edina-mn-284610", "city": "Edina", "state": "MN", "years_registered": 2, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 310222, "name": "Trumix Advisors", "name_as_filed": "TRUMIX ADVISORS", "url": "https://advisorcensus.com/firm/trumix-advisors-bloomington-mn-310222", "city": "Bloomington", "state": "MN", "years_registered": 2, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 316575, "name": "Trustmerit Capital", "name_as_filed": "TRUSTMERIT CAPITAL", "url": "https://advisorcensus.com/firm/trustmerit-capital-eden-prairie-mn-316575", "city": "Eden Prairie", "state": "MN", "years_registered": 4, "raum_band": "25m_100m", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 130239, "name": "Twele Capital Management, Inc.", "name_as_filed": "TWELE CAPITAL MANAGEMENT, INC.", "url": "https://advisorcensus.com/firm/twele-capital-management-inc-minnetonka-mn-130239", "city": "Minnetonka", "state": "MN", "years_registered": 19, "raum_band": "500m_1b", "compensation_types": [ "percentage_of_aum", "hourly" ], "enhanced": false }, { "crd_number": 341900, "name": "Twin Arbor Wealth Management LLC", "name_as_filed": "TWIN ARBOR WEALTH MANAGEMENT LLC", "url": "https://advisorcensus.com/firm/twin-arbor-wealth-management-llc-saint-paul-mn-341900", "city": "Saint Paul", "state": "MN", "years_registered": 0, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum", "fixed" ], "enhanced": false }, { "crd_number": 109610, "name": "Ulland Investment Advisors, LLC", "name_as_filed": "ULLAND INVESTMENT ADVISORS, LLC", "url": "https://advisorcensus.com/firm/ulland-investment-advisors-llc-minneapolis-mn-109610", "city": "Minneapolis", "state": "MN", "years_registered": 26, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 329292, "name": "Upstream Financial Advisors LLC", "name_as_filed": "UPSTREAM FINANCIAL ADVISORS LLC", "url": "https://advisorcensus.com/firm/upstream-financial-advisors-llc-329292", "city": null, "state": null, "years_registered": 2, "raum_band": "25m_100m", "compensation_types": [ "percentage_of_aum", "fixed" ], "enhanced": false }, { "crd_number": 341142, "name": "Vera Lake Capital, LLC", "name_as_filed": "VERA LAKE CAPITAL, LLC", "url": "https://advisorcensus.com/firm/vera-lake-capital-llc-edina-mn-341142", "city": "Edina", "state": "MN", "years_registered": 0, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum", "fixed" ], "enhanced": false }, { "crd_number": 343180, "name": "Vessel Wealth Partners", "name_as_filed": "VESSEL WEALTH PARTNERS", "url": "https://advisorcensus.com/firm/vessel-wealth-partners-mendota-heights-mn-343180", "city": "Mendota Heights", "state": "MN", "years_registered": 0, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum", "fixed" ], "enhanced": false }, { "crd_number": 325560, "name": "Vision Financial Planning LLC.", "name_as_filed": "VISION FINANCIAL PLANNING LLC.", "url": "https://advisorcensus.com/firm/vision-financial-planning-llc-325560", "city": null, "state": null, "years_registered": 3, "raum_band": "under_25m", "compensation_types": [ "fixed" ], "enhanced": false }, { "crd_number": 293511, "name": "Wagner Road Capital Management, LLC", "name_as_filed": "WAGNER ROAD CAPITAL MANAGEMENT, LLC", "url": "https://advisorcensus.com/firm/wagner-road-capital-management-llc-293511", "city": null, "state": null, "years_registered": 8, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum", "fixed" ], "enhanced": false }, { "crd_number": 311822, "name": "Wealth DEN Financial", "name_as_filed": "WEALTH DEN FINANCIAL", "url": "https://advisorcensus.com/firm/wealth-den-financial-311822", "city": null, "state": null, "years_registered": 5, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 283700, "name": "Wealth Span Capital Management", "name_as_filed": "WEALTH SPAN CAPITAL MANAGEMENT", "url": "https://advisorcensus.com/firm/wealth-span-capital-management-283700", "city": null, "state": null, "years_registered": 10, "raum_band": "25m_100m", "compensation_types": [ "percentage_of_aum", "fixed" ], "enhanced": false }, { "crd_number": 333628, "name": "Wealth Transitions", "name_as_filed": "WEALTH TRANSITIONS", "url": "https://advisorcensus.com/firm/wealth-transitions-forest-lake-mn-333628", "city": "Forest Lake", "state": "MN", "years_registered": 1, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 147063, "name": "Wealthspring Advisors, LLC", "name_as_filed": "WEALTHSPRING ADVISORS, LLC", "url": "https://advisorcensus.com/firm/wealthspring-advisors-llc-minneapolis-mn-147063", "city": "Minneapolis", "state": "MN", "years_registered": 14, "raum_band": "25m_100m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 337369, "name": "Wellencourt Wealth Management LLC", "name_as_filed": "WELLENCOURT WEALTH MANAGEMENT LLC", "url": "https://advisorcensus.com/firm/wellencourt-wealth-management-llc-337369", "city": null, "state": null, "years_registered": 1, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum", "hourly" ], "enhanced": false }, { "crd_number": 115499, "name": "Wenzel Analytics, Inc.", "name_as_filed": "WENZEL ANALYTICS, INC.", "url": "https://advisorcensus.com/firm/wenzel-analytics-inc-115499", "city": null, "state": null, "years_registered": 24, "raum_band": "under_25m", "compensation_types": [ "percentage_of_aum", "fixed" ], "enhanced": false }, { "crd_number": 327889, "name": "Wheeler Retirement Plans LLC", "name_as_filed": "WHEELER RETIREMENT PLANS LLC", "url": "https://advisorcensus.com/firm/wheeler-retirement-plans-llc-duluth-mn-327889", "city": "Duluth", "state": "MN", "years_registered": 3, "raum_band": "500m_1b", "compensation_types": [ "percentage_of_aum", "fixed" ], "enhanced": false }, { "crd_number": 173522, "name": "White Oaks Wealth Advisors, Inc.", "name_as_filed": "WHITE OAKS WEALTH ADVISORS, INC.", "url": "https://advisorcensus.com/firm/white-oaks-wealth-advisors-inc-minneapolis-mn-173522", "city": "Minneapolis", "state": "MN", "years_registered": 11, "raum_band": "500m_1b", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 108417, "name": "White Pine Capital LLC", "name_as_filed": "WHITE PINE CAPITAL LLC", "url": "https://advisorcensus.com/firm/white-pine-capital-llc-bloomington-mn-108417", "city": "Bloomington", "state": "MN", "years_registered": 26, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum", "fixed" ], "enhanced": false }, { "crd_number": 332421, "name": "Wisdom Wealth Management", "name_as_filed": "WISDOM WEALTH MANAGEMENT", "url": "https://advisorcensus.com/firm/wisdom-wealth-management-bloomington-mn-332421", "city": "Bloomington", "state": "MN", "years_registered": 1, "raum_band": "25m_100m", "compensation_types": [ "percentage_of_aum", "hourly", "fixed" ], "enhanced": false }, { "crd_number": 316409, "name": "Wold Financial Group", "name_as_filed": "WOLD FINANCIAL GROUP", "url": "https://advisorcensus.com/firm/wold-financial-group-mendota-heights-mn-316409", "city": "Mendota Heights", "state": "MN", "years_registered": 5, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum" ], "enhanced": false }, { "crd_number": 172591, "name": "Yes Wealth Management", "name_as_filed": "YES WEALTH MANAGEMENT", "url": "https://advisorcensus.com/firm/yes-wealth-management-mahtomedi-mn-172591", "city": "Mahtomedi", "state": "MN", "years_registered": 3, "raum_band": "100m_500m", "compensation_types": [ "percentage_of_aum" ], "enhanced": false } ], "states": [], "metros": [], "siblings": { "national": "/advisors", "state": { "path": "/advisors/mn", "label": "Financial advisors in Minnesota" }, "fee_pages": [ { "path": "/advisors/mn/flat-fee", "label": "Flat-fee financial advisors in Minnesota", "firm_count": 290 }, { "path": "/advisors/mn/hourly", "label": "Hourly financial advisors in Minnesota", "firm_count": 202 } ], "metro_fee_pages": [ { "path": "/advisors/mn/minneapolis/fee-only", "firm_count": 135, "label": "Fee-only financial advisors in Minneapolis, MN" }, { "path": "/advisors/mn/duluth/fee-only", "firm_count": 4, "label": "Fee-only financial advisors in Duluth, MN" }, { "path": "/advisors/mn/rochester/fee-only", "firm_count": 3, "label": "Fee-only financial advisors in Rochester, MN" }, { "path": "/advisors/mn/mankato/fee-only", "firm_count": 1, "label": "Fee-only financial advisors in Mankato, MN" } ] }, "csv": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }