# 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/5 ## 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 5 of 11, 201 to 250 of 522, sorted by name) | Firm | CRD | City | Registration | Assets band | Years registered | Compensation | | --- | --- | --- | --- | --- | --- | --- | | [Harrison Capital Management LLC](https://advisorcensus.com/firm/harrison-capital-management-llc-284127) ([md](https://advisorcensus.com/firm/harrison-capital-management-llc-284127.md)) | 284127 | Not reported, Not reported | State-registered investment adviser | $25 million to $100 million | 10 | % of assets | | [Hauge Wealth Management, LLC](https://advisorcensus.com/firm/hauge-wealth-management-llc-319248) ([md](https://advisorcensus.com/firm/hauge-wealth-management-llc-319248.md)) | 319248 | Not reported, Not reported | State-registered investment adviser | $25 million to $100 million | 4 | % of assets, Fixed fee | | [Hays Financial Group, LLC](https://advisorcensus.com/firm/hays-financial-group-llc-minneapolis-mn-306877) ([md](https://advisorcensus.com/firm/hays-financial-group-llc-minneapolis-mn-306877.md)) | 306877 | Minneapolis, MN | SEC-registered investment adviser | Over $5 billion | 5 | % of assets, Hourly, Fixed fee | | [Heartworth Financial LLC](https://advisorcensus.com/firm/heartworth-financial-llc-st-louis-park-mn-332065) ([md](https://advisorcensus.com/firm/heartworth-financial-llc-st-louis-park-mn-332065.md)) | 332065 | St Louis Park, MN | State-registered investment adviser | Under $25 million | 2 | % of assets, Hourly, Fixed fee | | [Heritage Capital Advisors, LLC](https://advisorcensus.com/firm/heritage-capital-advisors-llc-st-paul-mn-115308) ([md](https://advisorcensus.com/firm/heritage-capital-advisors-llc-st-paul-mn-115308.md)) | 115308 | St Paul, MN | State-registered investment adviser | $25 million to $100 million | 3 | % of assets, Fixed fee | | [High Note Wealth, LLC](https://advisorcensus.com/firm/high-note-wealth-llc-deephaven-mn-305768) ([md](https://advisorcensus.com/firm/high-note-wealth-llc-deephaven-mn-305768.md)) | 305768 | Deephaven, MN | SEC-registered investment adviser | $500 million to $1 billion | 6 | % of assets, Hourly | | [Highmark Wealth Management LLC](https://advisorcensus.com/firm/highmark-wealth-management-llc-st-paul-mn-164790) ([md](https://advisorcensus.com/firm/highmark-wealth-management-llc-st-paul-mn-164790.md)) | 164790 | St. Paul, MN | SEC-registered investment adviser | $500 million to $1 billion | 14 | % of assets, Hourly, Fixed fee, Other | | [Hofkin Capital Management, Inc.](https://advisorcensus.com/firm/hofkin-capital-management-inc-edina-mn-110068) ([md](https://advisorcensus.com/firm/hofkin-capital-management-inc-edina-mn-110068.md)) | 110068 | Edina, MN | State-registered investment adviser | $25 million to $100 million | 14 | % of assets, Performance fee | | [Holleyjo Wealth Advisors](https://advisorcensus.com/firm/holleyjo-wealth-advisors-edina-mn-307642) ([md](https://advisorcensus.com/firm/holleyjo-wealth-advisors-edina-mn-307642.md)) | 307642 | Edina, MN | State-registered investment adviser | Under $25 million | 6 | % of assets, Hourly, Fixed fee | | [Hunter Street Partners, LP](https://advisorcensus.com/firm/hunter-street-partners-lp-wayzata-mn-298142) ([md](https://advisorcensus.com/firm/hunter-street-partners-lp-wayzata-mn-298142.md)) | 298142 | Wayzata, MN | SEC-registered investment adviser | $100 million to $500 million | 2 | % of assets, Performance fee | | [Hyland Lake Partners](https://advisorcensus.com/firm/hyland-lake-partners-edina-mn-332244) ([md](https://advisorcensus.com/firm/hyland-lake-partners-edina-mn-332244.md)) | 332244 | Edina, MN | State-registered investment adviser | $25 million to $100 million | 1 | % of assets, Fixed fee | | [Icon Financial](https://advisorcensus.com/firm/icon-financial-prior-lake-mn-287830) ([md](https://advisorcensus.com/firm/icon-financial-prior-lake-mn-287830.md)) | 287830 | Prior Lake, MN | State-registered investment adviser | $25 million to $100 million | 9 | % of assets, Hourly | | [Illumifi Wealth](https://advisorcensus.com/firm/illumifi-wealth-338755) ([md](https://advisorcensus.com/firm/illumifi-wealth-338755.md)) | 338755 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 0 | % of assets, Hourly, Fixed fee | | [Imperative Management LLC](https://advisorcensus.com/firm/imperative-management-llc-stillwater-mn-306886) ([md](https://advisorcensus.com/firm/imperative-management-llc-stillwater-mn-306886.md)) | 306886 | Stillwater, MN | Exempt reporting adviser | Not reported | 6 | Not reported | | [India Capital LLC](https://advisorcensus.com/firm/india-capital-llc-minneapolis-mn-309034) ([md](https://advisorcensus.com/firm/india-capital-llc-minneapolis-mn-309034.md)) | 309034 | Minneapolis, MN | SEC-registered investment adviser | $100 million to $500 million | 5 | Other | | [Indiwealth](https://advisorcensus.com/firm/indiwealth-maple-grove-mn-335563) ([md](https://advisorcensus.com/firm/indiwealth-maple-grove-mn-335563.md)) | 335563 | Maple Grove, MN | State-registered investment adviser | Under $25 million | 1 | % of assets, Fixed fee | | [Intellicents Investment Solutions Inc](https://advisorcensus.com/firm/intellicents-investment-solutions-inc-albert-lea-mn-107498) ([md](https://advisorcensus.com/firm/intellicents-investment-solutions-inc-albert-lea-mn-107498.md)) | 107498 | Albert Lea, MN | SEC-registered investment adviser | Over $5 billion | 30 | % of assets, Hourly, Fixed fee, Commissions | | [Intelligent Alpha LLC](https://advisorcensus.com/firm/intelligent-alpha-llc-minneapolis-mn-332518) ([md](https://advisorcensus.com/firm/intelligent-alpha-llc-minneapolis-mn-332518.md)) | 332518 | Minneapolis, MN | SEC-registered investment adviser | $25 million to $100 million | 2 | % of assets, Performance fee | | [Investment Research Corporation](https://advisorcensus.com/firm/investment-research-corporation-warroad-mn-115494) ([md](https://advisorcensus.com/firm/investment-research-corporation-warroad-mn-115494.md)) | 115494 | Warroad, MN | State-registered investment adviser | $25 million to $100 million | 18 | % of assets | | [Investors Choice](https://advisorcensus.com/firm/investors-choice-113502) ([md](https://advisorcensus.com/firm/investors-choice-113502.md)) | 113502 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 27 | % of assets | | [ISC Financial Advisors](https://advisorcensus.com/firm/isc-financial-advisors-albert-lea-mn-157626) ([md](https://advisorcensus.com/firm/isc-financial-advisors-albert-lea-mn-157626.md)) | 157626 | Albert Lea, MN | SEC-registered investment adviser | $1 billion to $5 billion | 15 | % of assets, Hourly | | [Iwealth](https://advisorcensus.com/firm/iwealth-waseca-mn-329980) ([md](https://advisorcensus.com/firm/iwealth-waseca-mn-329980.md)) | 329980 | Waseca, MN | SEC-registered investment adviser | $100 million to $500 million | 2 | % of assets, Hourly, Fixed fee | | [JAK Financial Solutions LLC](https://advisorcensus.com/firm/jak-financial-solutions-llc-falcon-heights-mn-332025) ([md](https://advisorcensus.com/firm/jak-financial-solutions-llc-falcon-heights-mn-332025.md)) | 332025 | Falcon Heights, MN | State-registered investment adviser | Not reported | 1 | Other | | [Jason Janes Wealth Management, Inc.](https://advisorcensus.com/firm/jason-janes-wealth-management-inc-princeton-mn-313041) ([md](https://advisorcensus.com/firm/jason-janes-wealth-management-inc-princeton-mn-313041.md)) | 313041 | Princeton, MN | State-registered investment adviser | $25 million to $100 million | 4 | % of assets | | [Jeffrey A. Drayton Financial Group, Inc.](https://advisorcensus.com/firm/jeffrey-a-drayton-financial-group-inc-maple-grove-mn-290721) ([md](https://advisorcensus.com/firm/jeffrey-a-drayton-financial-group-inc-maple-grove-mn-290721.md)) | 290721 | Maple Grove, MN | State-registered investment adviser | $25 million to $100 million | 8 | % of assets, Hourly, Fixed fee | | [Jnba Financial Advisors, LLC](https://advisorcensus.com/firm/jnba-financial-advisors-llc-bloomington-mn-106550) ([md](https://advisorcensus.com/firm/jnba-financial-advisors-llc-bloomington-mn-106550.md)) | 106550 | Bloomington, MN | SEC-registered investment adviser | $1 billion to $5 billion | 42 | % of assets, Hourly, Fixed fee | | [Johnson Capital Management, LLC](https://advisorcensus.com/firm/johnson-capital-management-llc-146779) ([md](https://advisorcensus.com/firm/johnson-capital-management-llc-146779.md)) | 146779 | Not reported, Not reported | State-registered investment adviser | $25 million to $100 million | 18 | % of assets | | [Jones Kertz & Associates, Inc.](https://advisorcensus.com/firm/jones-kertz-and-associates-inc-blaine-mn-104976) ([md](https://advisorcensus.com/firm/jones-kertz-and-associates-inc-blaine-mn-104976.md)) | 104976 | Blaine, MN | SEC-registered investment adviser | $100 million to $500 million | 8 | % of assets | | [Josh Arnold Investment Consultant, LLC](https://advisorcensus.com/firm/josh-arnold-investment-consultant-llc-edina-mn-163088) ([md](https://advisorcensus.com/firm/josh-arnold-investment-consultant-llc-edina-mn-163088.md)) | 163088 | Edina, MN | SEC-registered investment adviser | $100 million to $500 million | 5 | % of assets, Hourly | | [JSE Wealth Management LLC](https://advisorcensus.com/firm/jse-wealth-management-llc-318335) ([md](https://advisorcensus.com/firm/jse-wealth-management-llc-318335.md)) | 318335 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 4 | % of assets | | [Kerwin Asset Management, LLC](https://advisorcensus.com/firm/kerwin-asset-management-llc-edina-mn-145906) ([md](https://advisorcensus.com/firm/kerwin-asset-management-llc-edina-mn-145906.md)) | 145906 | Edina, MN | State-registered investment adviser | $25 million to $100 million | 18 | % of assets | | [Keystone Wealth Advisors, Incorporated](https://advisorcensus.com/firm/keystone-wealth-advisors-incorporated-eagan-mn-153418) ([md](https://advisorcensus.com/firm/keystone-wealth-advisors-incorporated-eagan-mn-153418.md)) | 153418 | Eagan, MN | SEC-registered investment adviser | $100 million to $500 million | 16 | % of assets, Hourly | | [KMB Wealth Management, LLC](https://advisorcensus.com/firm/kmb-wealth-management-llc-309053) ([md](https://advisorcensus.com/firm/kmb-wealth-management-llc-309053.md)) | 309053 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 6 | % of assets | | [Knox Avenue Financial Corp.](https://advisorcensus.com/firm/knox-avenue-financial-corp-st-paul-mn-289094) ([md](https://advisorcensus.com/firm/knox-avenue-financial-corp-st-paul-mn-289094.md)) | 289094 | St. Paul, MN | SEC-registered investment adviser | $100 million to $500 million | 1 | % of assets, Fixed fee | | [Kodiak Investment Management LLC](https://advisorcensus.com/firm/kodiak-investment-management-llc-aitkin-mn-152925) ([md](https://advisorcensus.com/firm/kodiak-investment-management-llc-aitkin-mn-152925.md)) | 152925 | Aitkin, MN | State-registered investment adviser | Under $25 million | 4 | % of assets, Hourly, Fixed fee | | [Koob Wealth Management, LLC](https://advisorcensus.com/firm/koob-wealth-management-llc-white-bear-township-mn-154830) ([md](https://advisorcensus.com/firm/koob-wealth-management-llc-white-bear-township-mn-154830.md)) | 154830 | White Bear Township, MN | SEC-registered investment adviser | $100 million to $500 million | 2 | % of assets, Fixed fee | | [KP Management LLC](https://advisorcensus.com/firm/kp-management-llc-edina-mn-161307) ([md](https://advisorcensus.com/firm/kp-management-llc-edina-mn-161307.md)) | 161307 | Edina, MN | SEC-registered investment adviser | $100 million to $500 million | 2 | % of assets, Performance fee | | [Kruger Wealth Management, Inc.](https://advisorcensus.com/firm/kruger-wealth-management-inc-bloomington-mn-290488) ([md](https://advisorcensus.com/firm/kruger-wealth-management-inc-bloomington-mn-290488.md)) | 290488 | Bloomington, MN | State-registered investment adviser | Not reported | 8 | Other | | [Kubo Financial Planning and Investments, LLC](https://advisorcensus.com/firm/kubo-financial-planning-and-investments-llc-edina-mn-291436) ([md](https://advisorcensus.com/firm/kubo-financial-planning-and-investments-llc-edina-mn-291436.md)) | 291436 | Edina, MN | State-registered investment adviser | $25 million to $100 million | 8 | % of assets, Fixed fee, Performance fee | | [Kure Advisory, LLC](https://advisorcensus.com/firm/kure-advisory-llc-plymouth-mn-311320) ([md](https://advisorcensus.com/firm/kure-advisory-llc-plymouth-mn-311320.md)) | 311320 | Plymouth, MN | SEC-registered investment adviser | $100 million to $500 million | 5 | % of assets, Fixed fee | | [Kusske Financial, Inc.](https://advisorcensus.com/firm/kusske-financial-inc-burnsville-mn-299967) ([md](https://advisorcensus.com/firm/kusske-financial-inc-burnsville-mn-299967.md)) | 299967 | Burnsville, MN | State-registered investment adviser | Under $25 million | 6 | % of assets, Hourly, Fixed fee | | [Lakeside Capital Management - Parallel, LLC](https://advisorcensus.com/firm/lakeside-capital-management-parallel-llc-minneapolis-mn-316373) ([md](https://advisorcensus.com/firm/lakeside-capital-management-parallel-llc-minneapolis-mn-316373.md)) | 316373 | Minneapolis, MN | Exempt reporting adviser | Not reported | 4 | Not reported | | [Landcasted Capital Management LLC](https://advisorcensus.com/firm/landcasted-capital-management-llc-waconia-mn-333803) ([md](https://advisorcensus.com/firm/landcasted-capital-management-llc-waconia-mn-333803.md)) | 333803 | Waconia, MN | State-registered investment adviser | Under $25 million | 1 | % of assets, Fixed fee | | [Laurel Wealth Planning](https://advisorcensus.com/firm/laurel-wealth-planning-edina-mn-122035) ([md](https://advisorcensus.com/firm/laurel-wealth-planning-edina-mn-122035.md)) | 122035 | Edina, MN | SEC-registered investment adviser | $100 million to $500 million | 12 | % of assets, Hourly | | [Layline Asset Management Inc](https://advisorcensus.com/firm/layline-asset-management-inc-172018) ([md](https://advisorcensus.com/firm/layline-asset-management-inc-172018.md)) | 172018 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 12 | % of assets | | [Lebens Advisory Group LLC](https://advisorcensus.com/firm/lebens-advisory-group-llc-lakeville-mn-175089) ([md](https://advisorcensus.com/firm/lebens-advisory-group-llc-lakeville-mn-175089.md)) | 175089 | Lakeville, MN | State-registered investment adviser | $25 million to $100 million | 11 | % of assets, Fixed fee | | [Legacies Wealth LLC](https://advisorcensus.com/firm/legacies-wealth-llc-minnetonka-mn-143138) ([md](https://advisorcensus.com/firm/legacies-wealth-llc-minnetonka-mn-143138.md)) | 143138 | Minnetonka, MN | SEC-registered investment adviser | $500 million to $1 billion | 11 | % of assets, Fixed fee, Commissions | | [Legacy Financial Advisors Corporation](https://advisorcensus.com/firm/legacy-financial-advisors-corporation-bloomington-mn-115384) ([md](https://advisorcensus.com/firm/legacy-financial-advisors-corporation-bloomington-mn-115384.md)) | 115384 | Bloomington, MN | SEC-registered investment adviser | $100 million to $500 million | 23 | % of assets, Commissions | | [Legacy Retirement Advisors](https://advisorcensus.com/firm/legacy-retirement-advisors-157453) ([md](https://advisorcensus.com/firm/legacy-retirement-advisors-157453.md)) | 157453 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 14 | % of assets, Fixed fee | | [Legacy Wealth](https://advisorcensus.com/firm/legacy-wealth-woodbury-mn-306732) ([md](https://advisorcensus.com/firm/legacy-wealth-woodbury-mn-306732.md)) | 306732 | Woodbury, MN | SEC-registered investment adviser | $500 million to $1 billion | 6 | % of assets, Fixed fee | - Previous page: https://advisorcensus.com/advisors/mn/page/4.md - Next page: https://advisorcensus.com/advisors/mn/page/6.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) - [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.