# Financial advisors in Minnesota

> AdvisorCensus lists 522 investment advisory firms with a principal office in Minnesota, drawn from Form ADV filings as of October 2026. Metro areas in the state are listed first; firms are listed alphabetically, and you can sort by years registered or assets band using the controls below. Firms may request removal from the directory, so this count can differ from the number of firms that file Form ADV.

Source: Form ADV filings as of October 2026. Rebuilt monthly. HTML page: https://advisorcensus.com/advisors/mn/page/10

## At a glance

- Investment advisory firms: 522
- Registration: SEC-registered investment adviser: 278, State-registered investment adviser: 207, Exempt reporting adviser: 37
- How firms are compensated (Form ADV Item 5.E; shares of the firms that file it): Fee-only (AdvisorCensus test) 192 (40%); Percentage of assets 454 (94%); Hourly charges 202 (42%); Subscription fees (newsletter or periodical) 7 (1%); Fixed fees 290 (60%); Commissions 12 (2%); Performance-based fees 69 (14%); Other 60 (12%); No compensation arrangements reported 37
- Regulatory assets under management (Item 5.F): Under $25 million 103 (20%); $25 million to $100 million 97 (19%); $100 million to $500 million 122 (23%); $500 million to $1 billion 51 (10%); $1 billion to $5 billion 57 (11%); Over $5 billion 33 (6%); Not reported 59 (11%)
- Years registered: Under 5 years 161 (31%); 5 to 9 years 130 (25%); 10 to 19 years 130 (25%); 20 years or more 99 (19%); Not reported 2 (0%)

## Firms (page 10 of 11, 451 to 500 of 522, sorted by name)

| Firm | CRD | City | Registration | Assets band | Years registered | Compensation |
| --- | --- | --- | --- | --- | --- | --- |
| [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 |
| [Three Bridges Private Capital](https://advisorcensus.com/firm/three-bridges-private-capital-lake-elmo-mn-316782) ([md](https://advisorcensus.com/firm/three-bridges-private-capital-lake-elmo-mn-316782.md)) | 316782 | Lake Elmo, MN | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Thrivent Advisor Network, LLC](https://advisorcensus.com/firm/thrivent-advisor-network-llc-minneapolis-mn-304569) ([md](https://advisorcensus.com/firm/thrivent-advisor-network-llc-minneapolis-mn-304569.md)) | 304569 | Minneapolis, MN | SEC-registered investment adviser | Over $5 billion | 7 | % of assets, Hourly, Fixed fee |
| [Thrivent Asset Management, LLC](https://advisorcensus.com/firm/thrivent-asset-management-llc-minneapolis-mn-137751) ([md](https://advisorcensus.com/firm/thrivent-asset-management-llc-minneapolis-mn-137751.md)) | 137751 | Minneapolis, MN | SEC-registered investment adviser | Over $5 billion | 20 | % of assets |
| [Thrivent Financial for Lutherans](https://advisorcensus.com/firm/thrivent-financial-for-lutherans-minneapolis-mn-115785) ([md](https://advisorcensus.com/firm/thrivent-financial-for-lutherans-minneapolis-mn-115785.md)) | 115785 | Minneapolis, MN | SEC-registered investment adviser | Over $5 billion | 24 | % of assets, Performance fee |
| [Thrivent Investment Management Inc.](https://advisorcensus.com/firm/thrivent-investment-management-inc-minneapolis-mn-18387) ([md](https://advisorcensus.com/firm/thrivent-investment-management-inc-minneapolis-mn-18387.md)) | 18387 | Minneapolis, MN | SEC-registered investment adviser | Over $5 billion | 39 | % of assets, Fixed fee |
| [Thrivent Private Investments](https://advisorcensus.com/firm/thrivent-private-investments-minneapolis-mn-338378) ([md](https://advisorcensus.com/firm/thrivent-private-investments-minneapolis-mn-338378.md)) | 338378 | Minneapolis, MN | SEC-registered investment adviser | Over $5 billion | 1 | % of assets, Performance fee |
| [Tinyseed, LLC](https://advisorcensus.com/firm/tinyseed-llc-minneapolis-mn-304144) ([md](https://advisorcensus.com/firm/tinyseed-llc-minneapolis-mn-304144.md)) | 304144 | Minneapolis, MN | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Tonka Capital Partners, LLC](https://advisorcensus.com/firm/tonka-capital-partners-llc-minnetonka-mn-298336) ([md](https://advisorcensus.com/firm/tonka-capital-partners-llc-minnetonka-mn-298336.md)) | 298336 | Minnetonka, MN | SEC-registered investment adviser | $100 million to $500 million | 2 | % of assets, Fixed fee, Performance 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 |
| [Total Wealth Advisors, LLC](https://advisorcensus.com/firm/total-wealth-advisors-llc-hopkins-mn-164633) ([md](https://advisorcensus.com/firm/total-wealth-advisors-llc-hopkins-mn-164633.md)) | 164633 | Hopkins, MN | SEC-registered investment adviser | $100 million to $500 million | 5 | % of assets, Fixed fee |
| [Traction Capital, LLC](https://advisorcensus.com/firm/traction-capital-llc-wayata-mn-302084) ([md](https://advisorcensus.com/firm/traction-capital-llc-wayata-mn-302084.md)) | 302084 | Wayata, MN | Exempt reporting adviser | Not reported | Not reported | Not reported |
| [Trademark Financial Management, LLC](https://advisorcensus.com/firm/trademark-financial-management-llc-bloomington-mn-116543) ([md](https://advisorcensus.com/firm/trademark-financial-management-llc-bloomington-mn-116543.md)) | 116543 | Bloomington, MN | SEC-registered investment adviser | $100 million to $500 million | 11 | % of assets, Hourly, Fixed fee, Other |
| [Tradition Wealth Management LLC](https://advisorcensus.com/firm/tradition-wealth-management-llc-edina-mn-128314) ([md](https://advisorcensus.com/firm/tradition-wealth-management-llc-edina-mn-128314.md)) | 128314 | Edina, MN | SEC-registered investment adviser | $1 billion to $5 billion | 22 | % 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 |
| [Trott Brook Financial](https://advisorcensus.com/firm/trott-brook-financial-anoka-mn-290962) ([md](https://advisorcensus.com/firm/trott-brook-financial-anoka-mn-290962.md)) | 290962 | Anoka, MN | SEC-registered investment adviser | $100 million to $500 million | 0 | % of assets, Fixed fee |
| [Truehelm, LLC](https://advisorcensus.com/firm/truehelm-llc-bloomington-mn-165448) ([md](https://advisorcensus.com/firm/truehelm-llc-bloomington-mn-165448.md)) | 165448 | Bloomington, MN | SEC-registered investment adviser | $1 billion to $5 billion | 12 | % of assets, Performance 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 |
| [Tundra Ventures](https://advisorcensus.com/firm/tundra-ventures-minneapolis-mn-334274) ([md](https://advisorcensus.com/firm/tundra-ventures-minneapolis-mn-334274.md)) | 334274 | Minneapolis, MN | Exempt reporting adviser | Not reported | 0 | Not reported |
| [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 |
| [Twig Asset Management, LLC](https://advisorcensus.com/firm/twig-asset-management-llc-eden-prairie-mn-165433) ([md](https://advisorcensus.com/firm/twig-asset-management-llc-eden-prairie-mn-165433.md)) | 165433 | Eden Prairie, MN | State-registered investment adviser | Under $25 million | 6 | % of assets, Hourly, Fixed fee, Other |
| [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 |
| [Twin Cities Retirement Group](https://advisorcensus.com/firm/twin-cities-retirement-group-plymouth-mn-154974) ([md](https://advisorcensus.com/firm/twin-cities-retirement-group-plymouth-mn-154974.md)) | 154974 | Plymouth, MN | SEC-registered investment adviser | $100 million to $500 million | 0 | % of assets, Other |
| [Twin Cities Wealth Strategies, Inc.](https://advisorcensus.com/firm/twin-cities-wealth-strategies-inc-maple-grove-mn-286372) ([md](https://advisorcensus.com/firm/twin-cities-wealth-strategies-inc-maple-grove-mn-286372.md)) | 286372 | Maple Grove, MN | State-registered investment adviser | $25 million to $100 million | 9 | % of assets, Hourly, Fixed fee |
| [U.S. Bancorp Advisors, LLC](https://advisorcensus.com/firm/u-s-bancorp-advisors-llc-saint-paul-mn-14455) ([md](https://advisorcensus.com/firm/u-s-bancorp-advisors-llc-saint-paul-mn-14455.md)) | 14455 | Saint Paul, MN | SEC-registered investment adviser | $1 billion to $5 billion | 17 | % of assets, Other |
| [U.S. Bancorp Asset Management, Inc.](https://advisorcensus.com/firm/u-s-bancorp-asset-management-inc-minneapolis-mn-111912) ([md](https://advisorcensus.com/firm/u-s-bancorp-asset-management-inc-minneapolis-mn-111912.md)) | 111912 | Minneapolis, MN | SEC-registered investment adviser | Over $5 billion | 25 | % of assets, Performance fee, Other |
| [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 |
| [Underdog Wealth Management, LLC](https://advisorcensus.com/firm/underdog-wealth-management-llc-maple-grove-mn-152998) ([md](https://advisorcensus.com/firm/underdog-wealth-management-llc-maple-grove-mn-152998.md)) | 152998 | Maple Grove, MN | SEC-registered investment adviser | $100 million to $500 million | 0 | % of assets, Hourly, Other |
| [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 |
| [Usadvisors Wealth Management, LLC](https://advisorcensus.com/firm/usadvisors-wealth-management-llc-eden-prairie-mn-158108) ([md](https://advisorcensus.com/firm/usadvisors-wealth-management-llc-eden-prairie-mn-158108.md)) | 158108 | Eden Prairie, MN | SEC-registered investment adviser | $100 million to $500 million | 13 | % of assets, Hourly, Fixed fee |
| [Valley View Management Co., LLC](https://advisorcensus.com/firm/valley-view-management-co-llc-eden-prairie-mn-125556) ([md](https://advisorcensus.com/firm/valley-view-management-co-llc-eden-prairie-mn-125556.md)) | 125556 | Eden Prairie, MN | State-registered investment adviser | Under $25 million | Not reported | % of assets, Hourly |
| [Valtinson Bruner Financial Planning](https://advisorcensus.com/firm/valtinson-bruner-financial-planning-new-brighton-mn-297866) ([md](https://advisorcensus.com/firm/valtinson-bruner-financial-planning-new-brighton-mn-297866.md)) | 297866 | New Brighton, MN | SEC-registered investment adviser | $500 million to $1 billion | 8 | % of assets, Hourly, Fixed fee |
| [Van Clemens Wealth Management, LLC](https://advisorcensus.com/firm/van-clemens-wealth-management-llc-minneapolis-mn-297362) ([md](https://advisorcensus.com/firm/van-clemens-wealth-management-llc-minneapolis-mn-297362.md)) | 297362 | Minneapolis, MN | SEC-registered investment adviser | $100 million to $500 million | 2 | % of assets, Hourly, Fixed fee |
| [Vantage Point Wealth Management](https://advisorcensus.com/firm/vantage-point-wealth-management-plymouth-mn-167886) ([md](https://advisorcensus.com/firm/vantage-point-wealth-management-plymouth-mn-167886.md)) | 167886 | Plymouth, MN | SEC-registered investment adviser | $100 million to $500 million | 11 | % of assets, Hourly, Fixed fee |
| [VC Capital Management LLC](https://advisorcensus.com/firm/vc-capital-management-llc-minneapolis-mn-331537) ([md](https://advisorcensus.com/firm/vc-capital-management-llc-minneapolis-mn-331537.md)) | 331537 | Minneapolis, MN | Exempt reporting adviser | Not reported | 0 | Not reported |
| [Vensana Capital Management, LLC](https://advisorcensus.com/firm/vensana-capital-management-llc-edina-mn-300695) ([md](https://advisorcensus.com/firm/vensana-capital-management-llc-edina-mn-300695.md)) | 300695 | Edina, MN | Exempt reporting adviser | Not reported | 7 | Not reported |
| [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 |
| [Vermillion Wealth Management Inc.](https://advisorcensus.com/firm/vermillion-wealth-management-inc-rosemount-mn-281978) ([md](https://advisorcensus.com/firm/vermillion-wealth-management-inc-rosemount-mn-281978.md)) | 281978 | Rosemount, MN | SEC-registered investment adviser | $100 million to $500 million | 10 | % of assets, Fixed fee |
| [Vesbridge Partners, LP](https://advisorcensus.com/firm/vesbridge-partners-lp-minnetonka-mn-162045) ([md](https://advisorcensus.com/firm/vesbridge-partners-lp-minnetonka-mn-162045.md)) | 162045 | Minnetonka, MN | Exempt reporting adviser | Not reported | 0 | Not reported |
| [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 |
| [VIP Financial Associates](https://advisorcensus.com/firm/vip-financial-associates-woodbury-mn-282344) ([md](https://advisorcensus.com/firm/vip-financial-associates-woodbury-mn-282344.md)) | 282344 | Woodbury, MN | State-registered investment adviser | $25 million to $100 million | 10 | % 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 |
| [Wacker & Associates, Inc.](https://advisorcensus.com/firm/wacker-and-associates-inc-jackson-mn-159879) ([md](https://advisorcensus.com/firm/wacker-and-associates-inc-jackson-mn-159879.md)) | 159879 | Jackson, MN | SEC-registered investment adviser | $100 million to $500 million | 1 | % of assets, Hourly, Performance 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 |
| [Walleye Capital LLC](https://advisorcensus.com/firm/walleye-capital-llc-wayzata-mn-161413) ([md](https://advisorcensus.com/firm/walleye-capital-llc-wayzata-mn-161413.md)) | 161413 | Wayzata, MN | SEC-registered investment adviser | Over $5 billion | 8 | % of assets, Performance fee, Other |
| [Walrus Partners, LLC](https://advisorcensus.com/firm/walrus-partners-llc-golden-valley-mn-115071) ([md](https://advisorcensus.com/firm/walrus-partners-llc-golden-valley-mn-115071.md)) | 115071 | Golden Valley, MN | State-registered investment adviser | Under $25 million | 14 | % of assets, Performance fee |
| [Waterstreet Asset Management LLC](https://advisorcensus.com/firm/waterstreet-asset-management-llc-eden-prairie-mn-281332) ([md](https://advisorcensus.com/firm/waterstreet-asset-management-llc-eden-prairie-mn-281332.md)) | 281332 | Eden Prairie, MN | State-registered investment adviser | Not reported | 5 | Other |
| [Wayzata Investment Partners LLC](https://advisorcensus.com/firm/wayzata-investment-partners-llc-wayzata-mn-132046) ([md](https://advisorcensus.com/firm/wayzata-investment-partners-llc-wayzata-mn-132046.md)) | 132046 | Wayzata, MN | SEC-registered investment adviser | Under $25 million | 22 | Performance 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 |

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## 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)
- [Fee-only financial advisors in Minnesota](https://advisorcensus.com/advisors/mn/fee-only) (https://advisorcensus.com/advisors/mn/fee-only.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)

Every firm in this list as CSV: https://advisorcensus.com/advisors/mn.csv

Cite as: AdvisorCensus. Financial advisors in Minnesota: 522 firms from Form ADV filings as of October 2026.