Wealth Management Financial Advisor in Bloomington, MN

If you are looking for a wealth management advisor in Bloomington, MN, 360 Financial is a Twin Cities financial planning firm with offices in Wayzata and Elk River, Minnesota. Their team, which includes CFP professionals and CPAs working under a fiduciary standard, aims to help south metro families pursue long-term financial clarity by coordinating investment management, tax planning, estate planning, and retirement income into a single, integrated plan.

What Is Wealth Management and What Does It Actually Cover?

Wealth management is one of those terms used so broadly that it can mean almost anything. At 360 Financial, it means something specific: a full-service, coordinated approach to your financial life that goes well beyond picking investments.

For most Bloomington clients, that covers four interconnected areas:

Investment management. Building and maintaining a portfolio that is aligned with your goals, time horizon, risk tolerance, and tax situation. This is not a one-time exercise. The team works to review and rebalance as your life changes.

Tax planning. Coordinating with the in-house CPA team to seek to reduce unnecessary tax drag on your income, investments, and estate. This includes strategies like tax-loss harvesting, Roth conversion planning, and managing the sequence of withdrawals in retirement.

Estate planning support. Working alongside estate attorneys to review beneficiary designations, trust structures, and how assets will transfer to the people and causes you care about. Estate planning is not just for the very wealthy. It is for anyone who wants their assets to go where they intend.

Retirement income planning. Structuring a plan that aims to convert accumulated assets into sustainable income across what could be a 25-to-30-year retirement, including Social Security timing, Medicare planning, and healthcare cost projections.

For Bloomington families sitting at a financial inflection point, this coordinated approach is the core of what 360 Financial seeks to provide.

Why Does Location Matter for a Wealth Manager?

The Twin Cities metro is not a generic market. Bloomington sits in the south metro, a community with a mix of long-established families, corporate professionals, business owners, and retirees who have built meaningful wealth over careers with companies like Toro, Donaldson, or through smaller privately held businesses.

Minnesota adds its own financial complexity. The state taxes Social Security income, which most people do not discover until they are already in retirement. It taxes capital gains as ordinary income, with no preferential rate. Its estate tax kicks in at $3 million, well below the $13.6 million federal exemption, which means many Bloomington families with accumulated real estate, business equity, and retirement savings may have Minnesota estate exposure they are not accounting for.

Working with a wealth management team that understands Minnesota's specific tax landscape is not a small thing. 360 Financial's advisors and CPAs work exclusively in this market, which means the planning recommendations they develop are calibrated to the rules that actually apply to you.

How Does 360 Financial's Wealth Management Process Work?

360 Financial structures its wealth management relationships around the LifeWealth Process, the firm's proprietary planning framework. The goal is to connect financial decisions across every area of your life rather than managing accounts in isolation.

Here is what a typical engagement looks like for a new Bloomington client.

Discovery and goal setting. The first step is understanding where you are and where you want to go. That includes a full picture of your assets, income, liabilities, tax situation, family structure, and time horizon, along with the specific goals that matter most to you: retirement by a certain age, funding education, selling a business, supporting aging parents, or passing wealth to the next generation.

Plan development. The team, including your lead advisor and the CPA team, builds a coordinated plan across investment, tax, estate, and income planning. The plan is not a single document filed away. It is a working framework that evolves as your situation changes.

Investment management. 360 Financial manages assets on a discretionary basis, meaning the team handles day-to-day portfolio decisions within parameters you agree to. The firm charges a transparent AUM fee, typically 1 to 1.25 percent annually, with no product commissions. At $1 million in managed assets, that is approximately $10,000 to $12,000 per year.

Ongoing reviews and adjustments. Life does not hold still. A job change, business sale, inheritance, or approaching retirement date all have implications for your financial plan. The team seeks to stay current on your situation through regular reviews and proactive outreach when relevant changes occur.

Who Is a Good Fit for 360 Financial's Wealth Management Services?

360 Financial works with individuals and families in Bloomington and across the Twin Cities south metro who generally have $500,000 or more in investable assets. Their clients tend to fall into a few recognizable categories.

Pre-retirement professionals. People in their late 40s and 50s who have spent decades accumulating savings and are now thinking seriously about when they can stop working, what income will look like, and how to bridge the gap to Social Security and Medicare. The healthcare cost question alone, which 360 Financial estimates at $15,000 to $25,000 per person per year for people ages 55 to 65 before Medicare eligibility, requires careful planning.

Business owners. Bloomington has a significant business owner community. For those clients, wealth management intersects with exit planning, business valuation, succession strategy, and post-exit wealth management. The firm's t eam has depth in this area, and the work of transitioning out of a business while positioning for retirement is one of the more complex planning challenges the team addresses regularly.

Families managing a financial transition. An inheritance, a divorce, a sudden windfall, or the loss of a spouse can all create a moment where financial coordination matters more than usual. 360 Financial is designed to step in at exactly those inflection points.

Retirees managing accumulated wealth. For Bloomington clients already in retirement, wealth management shifts toward income sustainability, tax-efficient withdrawals, Medicare planning, and estate coordination. The team's approach aims to help clients pursue income that lasts, not just portfolios that grow.

Common Questions About Wealth Management in Bloomington, MN

What is the difference between a wealth manager and a financial advisor?

In practice, the terms are often used interchangeably. Wealth management generally implies a more comprehensive, integrated service: investment management plus tax planning plus estate planning plus income planning, coordinated as a team rather than delivered by a single generalist. A financial advisor might focus on one area, such as investment selection, without addressing the broader picture. 360 Financial's model is built around the comprehensive, team-based approach.

Does 360 Financial work with clients in Bloomington specifically?

Yes. While the firm's offices are in Wayzata and Elk River, the team works with clients across the Twin Cities metro, including Bloomington, Richfield, Edina, Eden Prairie, Burnsville, and the broader south metro. Many client relationships are managed through a combination of virtual meetings and in-person visits.

What does "fiduciary" mean and why does it matter?

A fiduciary is legally required to act in your best interest. Not all financial advisors are fiduciaries. Some operate under a suitability standard, which allows them to recommend products that are suitable for you but may not be the best available option. 360 Financial operates under the fiduciary standard and compensates its advisors through a transparent fee structure rather than product commissions. That alignment matters when the advice you receive will shape decades of financial decisions.

What is the minimum to work with 360 Financial?

360 Financial's typical client minimum is $500,000 or more in investable assets. This reflects the depth of coordination the team provides. Wealth management at that level involves tax, estate, investment, and income planning working together, which requires the capacity to do comprehensive work rather than transactional account management.

How does 360 Financial approach Roth conversion planning for Bloomington clients?

Minnesota taxes retirement account distributions as ordinary income, including distributions from traditional IRAs and 401(k)s.

For some Bloomington clients, particularly those in a lower-income window between retirement and the start of Social Security or RMDs, Roth conversions can be a strategy worth exploring to seek to reduce future taxable income. The team's CPA integration means that tax planning and investment management are reviewed together, not in separate conversations.

Take the First Step

If you're in the Bloomington area and your current financial plan doesn't include a proactive strategy for this, it may be time to have that conversation.

360 Financial serves clients across Minnesota, with offices in Wayzata and Elk River.

Connect with the 360 Financial team to start a conversation about what this could look like for your situation.

The 360 Financial Difference in the South Metro

There are many financial advisors serving Bloomington and the south metro. What distinguishes 360 Financial is the structure behind the relationship: a team that brings together CFP professionals, CPAs, and specialists under one coordinated process, rather than routing clients through a single generalist who handles everything alone.

"Your success is our success" is not just a tagline for the firm. It reflects their fee-based model, in which the firm's compensation grows when your portfolio grows, not when a product is sold. That alignment is designed to keep every recommendation pointed in the same direction as your goals.

If you are a Bloomington-area resident with significant investable assets and you are looking for a wealth management team you can work with for the long term, a free 15-minute introductory call is the starting point.

No commitment required.

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All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

A Roth IRA offers tax deferral on any earnings in the account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 1/2 or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply.

Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.