Top Wealth Management Firms in Minneapolis
- Troné Fossum
- May 6
- 10 min read
The top wealth management firms in Minneapolis and the Twin Cities area include 360 Financial, Guardian Wealth Strategies, Lion’s Wealth Management, Twin Cities Wealth Advisors, and Quarry Hill Advisors.
360 Financial is a family-owned practice with big firm capabilities. 360 helps investors with sudden wealth, retirement planning, tax planning, estate planning, and business financial planning.
Table of Contents
Wealth Management Firms in Minneapolis
If you're searching for a top wealth management firm in Minneapolis, you're likely looking for guidance on how to preserve and grow what you've worked so hard to build.
With numerous firms offering a range of services, specializations, and philosophies, it can be challenging to know where to start. This guide will explore some of the top private wealth management firms in Minneapolis and what makes each one unique.
Full disclosure: At 360 Financial, we're a holistic wealth management firm specializing in helping business owners and professionals in Minneapolis and the Twin Cities area. While we're (naturally) biased towards our own services, we've also covered some of the other top wealth management firms in the area so you can consider all your options if you're looking to switch firms.
The most important things to look for when selecting a wealth management firm are the qualifications and designations of the advisors, the firm’s specialties and services, as well as whether you feel comfortable speaking with every point of contact you encounter at the firm.
You should always feel like you matter and that you're well taken care of by your wealth advisory team. If you feel like you're just a number, that's a red flag.
In sum, look for a qualified and reputable firm that has great communication and provides top-notch service.
Top Wealth Management Firms and Financial Advisors in Minneapolis and the Twin Cities Area
Minneapolis is home to many excellent financial advisors and private wealth management firms.
Some focus on retirement planning, while others specialize in helping business owners, retirees, athletes, executives, or young couples.
The key is finding the right fit for your goals. The right advisor can make all the difference in your financial life. If you're looking for a firm that combines personalized services with professional expertise, one of these firms may be a great fit.
Here’s a look at a few top choices.
360 Financial
360 Financial is a boutique wealth management firm with offices in Elk River and Wayzata, just outside Minneapolis. At 360, we specialize in helping business owners, families, and retirees prepare for the future.
Our comprehensive approach includes financial planning services, investment management, retirement planning, tax planning and tax strategies, estate planning, insurance planning, charitable giving strategies, and succession planning for business owners. We provide all the services you need within a caring and professional environment.
Our Certified Financial Planners will create a customized financial plan that seeks to ensure you stay on track and work towards your financial and lifestyle goals.
At 360 Financial, our team of fiduciary advisors is dedicated to serving your best interests. We don’t offer generic, cookie-cutter solutions. We create a holistic financial plan and robust investment portfolio tailored to your specific goals and needs.
Guardian Wealth Strategies
Guardian Wealth Strategies in Minneapolis and Burnsville, MN, is a wealth management company that works with individual investors and non-profits. They provide integrated financial planning focusing on wealth conservation, investment management, estate planning, and tax strategies.
Lion's Wealth Management
Located in St. Louis Park, MN, Lion's Wealth Management is a fee-based financial advisory firm that provides fiduciary guidance to individual investors and families looking to align their finances with their goals.
Their approach aims to "make the complex simple." They focus on accountability and advocacy as they help their clients through investment management, estate planning, and financial planning.
Twin Cities Wealth Advisors
Twin Cities Wealth Advisors is an Ameriprise-affiliated team based in Minneapolis that offers full-service advisory services.
They "provide personalized advice based on what’s most important to you."
Their areas of focus include: executive compensation and benefit strategies, investment management, retirement planning strategies, sustainable and responsible investing, and estate planning strategies.
Quarry Hill Advisors
Quarry Hill Advisors is an investment advisory firm in Saint Paul, MN, offering fiduciary financial advice to individuals and families. Quarry Hill helps clients manage and align their resources in support of the life they want.
Their services include tax planning, retirement planning, investment management, estate planning, and education planning. As CFPs, they are focused on transparency and proactive financial planning.
What to Look for in a Minneapolis Wealth Management Firm
Choosing a wealth advisor is a personal decision. It's not just about experience (though that matters, too). It's about fit.
Does the advisor understand your financial goals and values? Do they listen? Do they specialize in clients like you, whether you're a business owner, a high earner preparing to retire, or someone managing inherited wealth?
Look for a fiduciary financial advisor who acts in your best interest.
Ask whether they offer estate planning, tax planning, and other services beyond investing. In addition, ask if they are fiduciaries. We always recommend that you seek out a fiduciary financial advisory team, as they are legally bound to act in your best interest at all times.
Before you sign on the dotted line, read client testimonials and case studies. Don't be shy about asking for examples of how they've helped others like you.
Who Benefits Most from Wealth Management Services?
If your financial life is becoming more complex, you may benefit from private wealth management.
Many clients who seek out wealth advisors are in their 50s or 60s, with over $1 million in investable assets and big questions on the horizon.
How do I reduce taxes in retirement?
Do I have enough to retire?
When can I actually retire?
Can I maintain my lifestyle for the next 30 years?
What's the right investment strategy for my risk tolerance?
The answer to those questions often requires professional input. A good advisor helps you connect the dots between your income, balance sheet, family goals, and your future. They bring confidence to people who want to stop guessing and start planning with purpose.
Key Wealth Management Services
Wealth management firms offer a range of services, but not all offer the same mix.
Some focus on investments, while others prioritize estate, tax, or insurance planning. That’s why it’s important to check if a firm’s services match your specific needs. With that in mind, here are some of the core services that most wealth management firms provide:
Investment management services: These aim to help you create and maintain a diversified portfolio. The right advisor will align your investments with your timeline, tax situation, and comfort with market ups and downs.
Financial planning: This goes beyond investing. The financial advisor looks at your entire financial life, from income and expenses to large purchases, charitable goals, and future needs. This includes cash flow planning, insurance, and debt management.
Estate planning: These services strive to help you preserve wealth across generations. Many firms also offer trust services or work closely with estate attorneys and accountants to create a seamless, well-coordinated plan.
Business wealth management: If you're a business owner, you should seek the advice and guidance of a wealth management firm that has extensive experience working with business owners like yourself. Business owners and entrepreneurs often have complex finances and require financial planning, investment management, tax planning, and estate planning. Look for someone who can help you with all aspects of your financial life.
When you have access to the services you need as well as a comprehensive plan, you're likely to feel much greater clarity and confidence.
How to Find the Right Wealth Management Firm in Minneapolis
Start by doing your homework. Visit firm websites. Look at their advisory team, their values, and the financial services they offer.
Ask yourself: Do they seem like a good fit for my stage of life? Do they have extensive experience? Do they have good client testimonials or Google reviews?
Then schedule a few intro calls.
During those meetings, ask about the firm's investment philosophy, how often they meet with clients, and how they personalize their advice. Find out how they maintain communication with their clients and what level of access you'll have to your advisor.
The right wealth manager should make you feel heard, not sold to. If you feel rushed or unsure, keep looking.
Why You Should Work with a Fiduciary Financial Advisor
Would you trust a doctor who gets paid more to prescribe certain medications? Probably not.
That’s why working with a fiduciary financial advisor is so important.
Fiduciary financial advisors are legally and ethically required to act in your best interest, not just suggest products or investments that "fit." That difference matters.
In fact, a 2018 CFA Institute survey found that 84% of investors say full disclosure of fees is essential to building trust with an advisor, yet only 48% of clients feel they receive adequate disclosure.
Fiduciary financial advisors don't earn commissions. They don't push sales.
They work for you and only you. That kind of transparency builds trust. And trust is the foundation of any successful wealth strategy. By working with a fiduciary advisor, you can feel confident that they are working in your best interest and offering strategies that are suited to you and your needs.
Questions to Ask a Wealth Advisor Before You Hire Them
When you meet with a potential wealth advisor, ask thoughtful questions like:
How do you create an investment portfolio for new clients?
When will I get my financial plan?
Do you offer a full range of advisory services, or do you just focus on investing?
How do you handle market volatility and changing client needs?
Are you fee-only, or do you earn commissions?
Who will I be working with long-term — an individual or a team?
These questions help you get a sense of the advisor's process, philosophy, and whether they're a fit for your life.
FAQ about Wealth Management
How do I find a fiduciary financial advisor near me?
Start by searching trusted directories like NAPFA or CFP Board, asking for referrals, and checking credentials carefully. A fiduciary must legally put your interests first. Always verify their fiduciary commitment in writing to preserve your financial future.
What is a reasonable fee for wealth management?
A reasonable wealth management fee is typically around 1% of assets under management, but it can vary based on services provided and account size. Some advisors offer lower rates for larger portfolios. Here’s a detailed guide on appropriate financial advisor fees.
What should be included in wealth management?
Wealth management should include investment management, retirement planning, tax strategies, estate planning, and risk management. A good wealth manager looks at your full financial life, tailoring services that aim to grow and preserve and eventually transfer your wealth successfully.
What is the difference between asset management and wealth management?
Asset management mainly focuses on investing and growing your money. Wealth management includes asset management but also offers broader services like tax advice, estate planning, and financial planning to manage your entire financial situation, not just your investments.
What is private wealth management?
Private wealth management offers specialized financial services for high-net-worth individuals. It includes investment advice, tax planning, estate strategies, and sometimes even personal banking services, all customized with a goal to preserve and grow large amounts of wealth efficiently.
What is a registered investment advisor?
A registered investment advisor (RIA) is a professional or firm that gives financial advice and manages assets. They must act as fiduciaries, putting your interests ahead of their own. Depending on assets managed, RIAs are regulated by the SEC or state authorities.
What is an investment plan?
An investment plan is a strategy that seeks to grow your investments over time. It matches your financial goals, risk tolerance, and timeline with a mix of investments like stocks, bonds, and other assets. A good plan keeps you focused and disciplined through market ups and downs.
What is fiduciary counselling?
Fiduciary counselling means getting advice from someone who is legally required to act in your best interest. They give customized recommendations without hidden fees or conflicts of interest. Fiduciary counselling helps you make smarter financial decisions because the advice is based on what’s truly best for your goals and future.
Do I need alternative investments?
Alternative investments like private equity, real estate, and hedge funds seek to add diversification and lower risk in a portfolio. They aren’t necessary for everyone, but they may help high-net-worth investors work towards their goals more efficiently. Whether you need them depends on your situation, risk tolerance, and long-term financial strategy.
Will a wealth management firm also provide a comprehensive financial plan?
Most good wealth management firms do offer a comprehensive financial plan. This plan covers everything from investments to retirement, taxes, insurance, and estate planning. It’s aimed at helping you pursue your personal and financial goals, not just manage your money. Always ask what services are included upfront when speaking with a new firm.
Final Thoughts
Finding the right new wealth advisor can be time-consuming, especially with so many firms and advisors from which to choose.
But taking the time to find the right team and select wisely may lead to better outcomes and greater financial freedom.
Look for a firm whose advisors listen to your goals, act in your best interest, and aim to build a comprehensive financial plan designed just for you. The right partnership can make all the difference for your future.
Other Articles and Guides
About 360 Financial
360 Financial is an independent wealth management firm with a team of specialized financial advisors and financial planners. As fiduciaries, 360 Financial’s advisors provide services to business owners, entrepreneurs, and professionals. We help investors with sudden wealth, retirement planning, tax planning, estate planning, and business financial planning.
Headquartered in Minnesota, we serve investors across the US with online and in-person wealth management and financial planning services.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Investing involves risk including loss of principal. No strategy assures success or protects against loss.
There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
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.
Alternative investments may not be suitable for all investors and should be considered as an investment for the risk capital portion of the investor’s portfolio. The strategies employed in the management of alternative investments may accelerate the velocity of potential losses.
