City Guide

How to Choose a Financial Advisor in MINNEAPOLIS, MN

A data-driven guide based on 894 registered advisors in MINNEAPOLIS
01

Local Market Overview

There are 894 registered financial advisors in MINNEAPOLIS, Minnesota. Approximately 92% report fee-based compensation, while 2% include commission-based compensation. The average firm serving MINNEAPOLIS manages $27.4B in assets.

Registered Advisors
894
In MINNEAPOLIS, MN
Avg Firm AUM
$27.4B
Assets under management
Top Credential
—
Community Profile

MINNEAPOLIS has a population of 426,877 with a median household income of $76,332. The median age is 32.8.

Advisor density: 20.9 per 10K residents
Median income: $76,332
Compensation Types Reported
Percentage of AUM
92% of advisors · 824 total
Subscription fees
44% of advisors · 397 total
Performance-based fees
37% of advisors · 329 total
Hourly charges
22% of advisors · 196 total
Other: PERCENTAGE OF ASSETS UNDER MANAGEMENT WITH THIRD PARTY MANAGER
2% of advisors · 20 total
Commissions
2% of advisors · 16 total
02

What to Look For

Check their credentials
The CFP (Certified Financial Planner) is the gold standard for comprehensive financial planning. A CFA (Chartered Financial Analyst) signals deep investment expertise, while a ChFC (Chartered Financial Consultant) covers insurance and estate planning.
Understand fee structures
Fee-only advisors charge only for their advice (hourly, flat fee, or % of AUM). Fee-based advisors may also earn commissions on products they sell. Commission-only advisors earn money from product sales. Fee-only is generally considered the least conflicted model. See Minnesota fee analysis →
Verify their registration
Every legitimate advisor should be registered with the SEC or their state. Check FINRA BrokerCheck for disciplinary history, disclosures, and registration status. All advisors on AdvisorOS are sourced from official SEC/FINRA registration data.
Ask about account minimums
Some advisors require $250,000 or more to open an account. Others work with any portfolio size. Ask upfront to avoid wasting time on advisors who aren't a fit.
Review their Form CRS
The Form CRS (Client Relationship Summary) is a 2-page document every advisor must provide. It explains services, fees, conflicts of interest, and disciplinary history in plain language. Ask for it before your first meeting.
03

Browse Advisors in MINNEAPOLIS

894 advisors in MINNEAPOLIS, MN

Search the full directory of registered financial advisors in MINNEAPOLIS. Compare credentials, specialties, and firm details — all based on SEC and FINRA public data.

Browse MINNEAPOLIS AdvisorsAll Cities in Minnesota
04

Frequently Asked Questions

How many financial advisors are in MINNEAPOLIS, MN?
There are 894 registered financial advisors in MINNEAPOLIS, Minnesota, according to SEC and FINRA registration data.
What credentials should a financial advisor in MINNEAPOLIS have?
Look for CFP (Certified Financial Planner) for comprehensive planning, CFA for investment management, or ChFC for insurance and estate planning.
Are financial advisors in MINNEAPOLIS required to be fiduciaries?
Registered Investment Advisors (RIAs) have a fiduciary duty to act in your best interest. Broker-dealers follow a suitability standard. Always ask your advisor about their fiduciary status and get it in writing.
What do financial advisors in MINNEAPOLIS charge?
Fees vary widely. Fee-only advisors typically charge 0.5%–1.5% of assets under management, $150–$400/hour, or flat fees of $1,000–$7,500+ per plan. Commission-based advisors may not charge fees directly but earn commissions on products.
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Browse MINNEAPOLIS Advisors by Specialty
Investment ManagementRetirement PlanningWealth ManagementFinancial PlanningFee-Only AdvisoryFinancial Education
More Research
What Do Financial Advisors Cost in Minnesota? →National Fee Analysis →