# Fee-only financial advisors in Minnesota

> 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.

Source: Form ADV filings as of October 2026. Rebuilt monthly. HTML page: https://advisorcensus.com/advisors/mn/fee-only/page/4

## At a glance

- Investment advisory firms: 192
- Registration: SEC-registered investment adviser: 79, State-registered investment adviser: 113
- How firms are compensated (Form ADV Item 5.E; shares of the firms that file it): Fee-only (AdvisorCensus test) 192 (100%); Percentage of assets 183 (95%); Hourly charges 80 (42%); Subscription fees (newsletter or periodical) 2 (1%); Fixed fees 117 (61%)
- Regulatory assets under management (Item 5.F): Under $25 million 60 (31%); $25 million to $100 million 50 (26%); $100 million to $500 million 44 (23%); $500 million to $1 billion 17 (9%); $1 billion to $5 billion 13 (7%); Over $5 billion 2 (1%); Not reported 6 (3%)
- Years registered: Under 5 years 46 (24%); 5 to 9 years 57 (30%); 10 to 19 years 51 (27%); 20 years or more 38 (20%)

## Firms (page 4 of 4, 151 to 192 of 192, sorted by name)

| Firm | CRD | City | Registration | Assets band | Years registered | Compensation |
| --- | --- | --- | --- | --- | --- | --- |
| [Solidity Financial LLC](https://advisorcensus.com/firm/solidity-financial-llc-shoreview-mn-157308) ([md](https://advisorcensus.com/firm/solidity-financial-llc-shoreview-mn-157308.md)) | 157308 | Shoreview, MN | State-registered investment adviser | $25 million to $100 million | 15 | % of assets |
| [Somerset Group LLC](https://advisorcensus.com/firm/somerset-group-llc-wayzata-mn-160282) ([md](https://advisorcensus.com/firm/somerset-group-llc-wayzata-mn-160282.md)) | 160282 | Wayzata, MN | SEC-registered investment adviser | $100 million to $500 million | 14 | % of assets |
| [Sona Wealth, Sona Wealth Management, Sona Wealth Advisors](https://advisorcensus.com/firm/sona-wealth-sona-wealth-management-sona-wealth-advisors-281976) ([md](https://advisorcensus.com/firm/sona-wealth-sona-wealth-management-sona-wealth-advisors-281976.md)) | 281976 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 2 | % of assets, Hourly, Subscription, Fixed fee |
| [Spencer Financial Advisors](https://advisorcensus.com/firm/spencer-financial-advisors-115844) ([md](https://advisorcensus.com/firm/spencer-financial-advisors-115844.md)) | 115844 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 27 | % of assets |
| [Stairway Partners, LLC](https://advisorcensus.com/firm/stairway-partners-llc-minneapolis-mn-133157) ([md](https://advisorcensus.com/firm/stairway-partners-llc-minneapolis-mn-133157.md)) | 133157 | Minneapolis, MN | SEC-registered investment adviser | $1 billion to $5 billion | 21 | % of assets |
| [Standard Valuations, Inc.](https://advisorcensus.com/firm/standard-valuations-inc-white-bear-lake-mn-112413) ([md](https://advisorcensus.com/firm/standard-valuations-inc-white-bear-lake-mn-112413.md)) | 112413 | White Bear Lake, MN | SEC-registered investment adviser | Not reported | 30 | Fixed fee |
| [Stonebridge Capital Advisors LLC](https://advisorcensus.com/firm/stonebridge-capital-advisors-llc-st-paul-mn-111447) ([md](https://advisorcensus.com/firm/stonebridge-capital-advisors-llc-st-paul-mn-111447.md)) | 111447 | St. Paul, MN | SEC-registered investment adviser | $1 billion to $5 billion | 29 | % of assets |
| [Strategic Financial Planning, Inc.](https://advisorcensus.com/firm/strategic-financial-planning-inc-minnetonka-mn-121007) ([md](https://advisorcensus.com/firm/strategic-financial-planning-inc-minnetonka-mn-121007.md)) | 121007 | Minnetonka, MN | State-registered investment adviser | Under $25 million | 6 | % of assets, Hourly |
| [Summit Advisor Group](https://advisorcensus.com/firm/summit-advisor-group-bloomington-mn-324490) ([md](https://advisorcensus.com/firm/summit-advisor-group-bloomington-mn-324490.md)) | 324490 | Bloomington, MN | State-registered investment adviser | $25 million to $100 million | 3 | % of assets |
| [Summit Creek Advisors](https://advisorcensus.com/firm/summit-creek-advisors-minneapolis-mn-135496) ([md](https://advisorcensus.com/firm/summit-creek-advisors-minneapolis-mn-135496.md)) | 135496 | Minneapolis, MN | SEC-registered investment adviser | $500 million to $1 billion | 17 | % of assets |
| [Superior Financial, LLC](https://advisorcensus.com/firm/superior-financial-llc-rochester-mn-148326) ([md](https://advisorcensus.com/firm/superior-financial-llc-rochester-mn-148326.md)) | 148326 | Rochester, MN | SEC-registered investment adviser | $100 million to $500 million | 0 | % of assets, Hourly, Fixed fee |
| [Symmetric Advisors Inc](https://advisorcensus.com/firm/symmetric-advisors-inc-minnetonka-mn-110105) ([md](https://advisorcensus.com/firm/symmetric-advisors-inc-minnetonka-mn-110105.md)) | 110105 | Minnetonka, MN | State-registered investment adviser | Under $25 million | 14 | % of assets |
| [Systelligence, LLC](https://advisorcensus.com/firm/systelligence-llc-bloomington-mn-283582) ([md](https://advisorcensus.com/firm/systelligence-llc-bloomington-mn-283582.md)) | 283582 | Bloomington, MN | SEC-registered investment adviser | $500 million to $1 billion | 10 | % of assets |
| [Tealwood Asset Management](https://advisorcensus.com/firm/tealwood-asset-management-minneapolis-mn-105245) ([md](https://advisorcensus.com/firm/tealwood-asset-management-minneapolis-mn-105245.md)) | 105245 | Minneapolis, MN | SEC-registered investment adviser | $100 million to $500 million | 39 | % of assets, Fixed fee |
| [Telos Solutions](https://advisorcensus.com/firm/telos-solutions-165154) ([md](https://advisorcensus.com/firm/telos-solutions-165154.md)) | 165154 | Not reported, Not reported | State-registered investment adviser | $25 million to $100 million | 13 | % of assets, Hourly, Fixed fee |
| [The Hatlestad Group](https://advisorcensus.com/firm/the-hatlestad-group-edina-mn-290435) ([md](https://advisorcensus.com/firm/the-hatlestad-group-edina-mn-290435.md)) | 290435 | Edina, MN | State-registered investment adviser | $25 million to $100 million | 8 | % of assets, Hourly, Fixed fee |
| [Thomas Leo Advisory, LLC](https://advisorcensus.com/firm/thomas-leo-advisory-llc-minneapolis-mn-159271) ([md](https://advisorcensus.com/firm/thomas-leo-advisory-llc-minneapolis-mn-159271.md)) | 159271 | Minneapolis, MN | SEC-registered investment adviser | $100 million to $500 million | 8 | % of assets |
| [Thoughtful Financial Planning, LLC](https://advisorcensus.com/firm/thoughtful-financial-planning-llc-minneapolis-mn-171525) ([md](https://advisorcensus.com/firm/thoughtful-financial-planning-llc-minneapolis-mn-171525.md)) | 171525 | Minneapolis, MN | State-registered investment adviser | Under $25 million | 12 | % of assets, Hourly, Fixed fee |
| [Torchlight Financial](https://advisorcensus.com/firm/torchlight-financial-edina-mn-156559) ([md](https://advisorcensus.com/firm/torchlight-financial-edina-mn-156559.md)) | 156559 | Edina, MN | State-registered investment adviser | $25 million to $100 million | 15 | % of assets, Hourly, Fixed fee |
| [Trailhead Planners, LLC](https://advisorcensus.com/firm/trailhead-planners-llc-edina-mn-284610) ([md](https://advisorcensus.com/firm/trailhead-planners-llc-edina-mn-284610.md)) | 284610 | Edina, MN | SEC-registered investment adviser | $100 million to $500 million | 2 | % of assets, Hourly, Fixed fee |
| [Trumix Advisors](https://advisorcensus.com/firm/trumix-advisors-bloomington-mn-310222) ([md](https://advisorcensus.com/firm/trumix-advisors-bloomington-mn-310222.md)) | 310222 | Bloomington, MN | SEC-registered investment adviser | $100 million to $500 million | 2 | % of assets, Hourly, Fixed fee |
| [Trustmerit Capital](https://advisorcensus.com/firm/trustmerit-capital-eden-prairie-mn-316575) ([md](https://advisorcensus.com/firm/trustmerit-capital-eden-prairie-mn-316575.md)) | 316575 | Eden Prairie, MN | State-registered investment adviser | $25 million to $100 million | 4 | % of assets |
| [Twele Capital Management, Inc.](https://advisorcensus.com/firm/twele-capital-management-inc-minnetonka-mn-130239) ([md](https://advisorcensus.com/firm/twele-capital-management-inc-minnetonka-mn-130239.md)) | 130239 | Minnetonka, MN | SEC-registered investment adviser | $500 million to $1 billion | 19 | % of assets, Hourly |
| [Twin Arbor Wealth Management LLC](https://advisorcensus.com/firm/twin-arbor-wealth-management-llc-saint-paul-mn-341900) ([md](https://advisorcensus.com/firm/twin-arbor-wealth-management-llc-saint-paul-mn-341900.md)) | 341900 | Saint Paul, MN | State-registered investment adviser | Under $25 million | 0 | % of assets, Fixed fee |
| [Ulland Investment Advisors, LLC](https://advisorcensus.com/firm/ulland-investment-advisors-llc-minneapolis-mn-109610) ([md](https://advisorcensus.com/firm/ulland-investment-advisors-llc-minneapolis-mn-109610.md)) | 109610 | Minneapolis, MN | SEC-registered investment adviser | $100 million to $500 million | 26 | % of assets |
| [Upstream Financial Advisors LLC](https://advisorcensus.com/firm/upstream-financial-advisors-llc-329292) ([md](https://advisorcensus.com/firm/upstream-financial-advisors-llc-329292.md)) | 329292 | Not reported, Not reported | State-registered investment adviser | $25 million to $100 million | 2 | % of assets, Fixed fee |
| [Vera Lake Capital, LLC](https://advisorcensus.com/firm/vera-lake-capital-llc-edina-mn-341142) ([md](https://advisorcensus.com/firm/vera-lake-capital-llc-edina-mn-341142.md)) | 341142 | Edina, MN | SEC-registered investment adviser | $100 million to $500 million | 0 | % of assets, Fixed fee |
| [Vessel Wealth Partners](https://advisorcensus.com/firm/vessel-wealth-partners-mendota-heights-mn-343180) ([md](https://advisorcensus.com/firm/vessel-wealth-partners-mendota-heights-mn-343180.md)) | 343180 | Mendota Heights, MN | SEC-registered investment adviser | Under $25 million | 0 | % of assets, Fixed fee |
| [Vision Financial Planning LLC.](https://advisorcensus.com/firm/vision-financial-planning-llc-325560) ([md](https://advisorcensus.com/firm/vision-financial-planning-llc-325560.md)) | 325560 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 3 | Fixed fee |
| [Wagner Road Capital Management, LLC](https://advisorcensus.com/firm/wagner-road-capital-management-llc-293511) ([md](https://advisorcensus.com/firm/wagner-road-capital-management-llc-293511.md)) | 293511 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 8 | % of assets, Fixed fee |
| [Wealth DEN Financial](https://advisorcensus.com/firm/wealth-den-financial-311822) ([md](https://advisorcensus.com/firm/wealth-den-financial-311822.md)) | 311822 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 5 | % of assets, Hourly, Fixed fee |
| [Wealth Span Capital Management](https://advisorcensus.com/firm/wealth-span-capital-management-283700) ([md](https://advisorcensus.com/firm/wealth-span-capital-management-283700.md)) | 283700 | Not reported, Not reported | State-registered investment adviser | $25 million to $100 million | 10 | % of assets, Fixed fee |
| [Wealth Transitions](https://advisorcensus.com/firm/wealth-transitions-forest-lake-mn-333628) ([md](https://advisorcensus.com/firm/wealth-transitions-forest-lake-mn-333628.md)) | 333628 | Forest Lake, MN | State-registered investment adviser | Under $25 million | 1 | % of assets, Hourly, Fixed fee |
| [Wealthspring Advisors, LLC](https://advisorcensus.com/firm/wealthspring-advisors-llc-minneapolis-mn-147063) ([md](https://advisorcensus.com/firm/wealthspring-advisors-llc-minneapolis-mn-147063.md)) | 147063 | Minneapolis, MN | State-registered investment adviser | $25 million to $100 million | 14 | % of assets, Hourly, Fixed fee |
| [Wellencourt Wealth Management LLC](https://advisorcensus.com/firm/wellencourt-wealth-management-llc-337369) ([md](https://advisorcensus.com/firm/wellencourt-wealth-management-llc-337369.md)) | 337369 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 1 | % of assets, Hourly |
| [Wenzel Analytics, Inc.](https://advisorcensus.com/firm/wenzel-analytics-inc-115499) ([md](https://advisorcensus.com/firm/wenzel-analytics-inc-115499.md)) | 115499 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 24 | % of assets, Fixed fee |
| [Wheeler Retirement Plans LLC](https://advisorcensus.com/firm/wheeler-retirement-plans-llc-duluth-mn-327889) ([md](https://advisorcensus.com/firm/wheeler-retirement-plans-llc-duluth-mn-327889.md)) | 327889 | Duluth, MN | SEC-registered investment adviser | $500 million to $1 billion | 3 | % of assets, Fixed fee |
| [White Oaks Wealth Advisors, Inc.](https://advisorcensus.com/firm/white-oaks-wealth-advisors-inc-minneapolis-mn-173522) ([md](https://advisorcensus.com/firm/white-oaks-wealth-advisors-inc-minneapolis-mn-173522.md)) | 173522 | Minneapolis, MN | SEC-registered investment adviser | $500 million to $1 billion | 11 | % of assets, Hourly, Fixed fee |
| [White Pine Capital LLC](https://advisorcensus.com/firm/white-pine-capital-llc-bloomington-mn-108417) ([md](https://advisorcensus.com/firm/white-pine-capital-llc-bloomington-mn-108417.md)) | 108417 | Bloomington, MN | SEC-registered investment adviser | $100 million to $500 million | 26 | % of assets, Fixed fee |
| [Wisdom Wealth Management](https://advisorcensus.com/firm/wisdom-wealth-management-bloomington-mn-332421) ([md](https://advisorcensus.com/firm/wisdom-wealth-management-bloomington-mn-332421.md)) | 332421 | Bloomington, MN | State-registered investment adviser | $25 million to $100 million | 1 | % of assets, Hourly, Fixed fee |
| [Wold Financial Group](https://advisorcensus.com/firm/wold-financial-group-mendota-heights-mn-316409) ([md](https://advisorcensus.com/firm/wold-financial-group-mendota-heights-mn-316409.md)) | 316409 | Mendota Heights, MN | SEC-registered investment adviser | $100 million to $500 million | 5 | % of assets |
| [Yes Wealth Management](https://advisorcensus.com/firm/yes-wealth-management-mahtomedi-mn-172591) ([md](https://advisorcensus.com/firm/yes-wealth-management-mahtomedi-mn-172591.md)) | 172591 | Mahtomedi, MN | SEC-registered investment adviser | $100 million to $500 million | 3 | % of assets |

- Previous page: https://advisorcensus.com/advisors/mn/fee-only/page/3.md

## Questions people ask

**How many financial advisory firms are there in Minnesota?**
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.

**How many fee-only financial advisors are in Minnesota?**
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.

**How many financial advisors in Minnesota offer financial planning?**
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.

**Are the financial advisors in Minnesota fiduciaries?**
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.

**How do I check whether a financial advisor has disciplinary disclosures?**
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.

**Does AdvisorCensus rate, verify, or recommend these firms?**
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.

**What does regulatory assets under management mean?**
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.

## Related pages

- [Financial advisors in Minnesota](https://advisorcensus.com/advisors/mn) (https://advisorcensus.com/advisors/mn.md)
- [Flat-fee financial advisors in Minnesota](https://advisorcensus.com/advisors/mn/flat-fee) (https://advisorcensus.com/advisors/mn/flat-fee.md)
- [Hourly financial advisors in Minnesota](https://advisorcensus.com/advisors/mn/hourly) (https://advisorcensus.com/advisors/mn/hourly.md)
- [Fee-only financial advisors in Minneapolis, MN](https://advisorcensus.com/advisors/mn/minneapolis/fee-only) (https://advisorcensus.com/advisors/mn/minneapolis/fee-only.md)
- [Fee-only financial advisors in Duluth, MN](https://advisorcensus.com/advisors/mn/duluth/fee-only) (https://advisorcensus.com/advisors/mn/duluth/fee-only.md)
- [Fee-only financial advisors in Rochester, MN](https://advisorcensus.com/advisors/mn/rochester/fee-only) (https://advisorcensus.com/advisors/mn/rochester/fee-only.md)
- [Fee-only financial advisors in Mankato, MN](https://advisorcensus.com/advisors/mn/mankato/fee-only) (https://advisorcensus.com/advisors/mn/mankato/fee-only.md)

Cite as: AdvisorCensus. Fee-only financial advisors in Minnesota: 192 firms from Form ADV filings as of October 2026.