Top 10 Best Financial Advisors in Shakopee, Minnesota

Are you currently seeking dependable financial advisors in Shakopee? Many individuals in Minnesota frequently conduct online searches like “best wealth advisors near me” using search engines like Google.

Choosing a financial advisor to manage your investments and wealth shouldn’t be taken lightly. Entrusting a firm or individual within a firm with your financial resources requires careful consideration, as you undoubtedly want to make the most informed decision possible.

However, the key question remains: How can you ensure that you are making the correct choice and that your funds are in capable hands? One effective approach is to familiarize yourself with the various fee structures employed by financial advisors. By thoroughly analyzing each fee structure, you can assess how it may impact your long-term savings or retirement plan.

When Should You Seek Financial Advice in Shakopee?

In certain circumstances, seeking the assistance of a qualified financial advisor can be highly beneficial and provide valuable expertise. Here are five circumstances where it’s often better to use a financial advisor rather than go it alone:

• Complex Financial Situations: When your financial situation becomes complex, involving intricate investment portfolios, multiple income sources, or diverse tax considerations, a financial advisor can help navigate the complexities.
• Retirement Planning: A financial advisor can help create a personalized retirement plan tailored to your specific goals and circumstances. They can evaluate your retirement savings, calculate potential income streams, and offer guidance on investment options.
• Investment Management: A financial advisor can help develop an investment portfolio aligned with your risk tolerance and financial objectives, offering ongoing monitoring and adjustments as needed.
• Tax Planning: A financial advisor with tax expertise can help you optimize your tax planning strategies, identify potential deductions and credits, and ensure compliance with relevant tax laws. They can work with your accountant or tax professional to develop a comprehensive tax plan that minimizes your tax liabilities.
• Life Transitions: Major life events such as marriage, divorce, inheritance, or the birth of a child can significantly impact your financial situation. During these transitions, a financial advisor can provide guidance and support.

In each of these circumstances, a financial advisor’s knowledge, experience, and objectivity can prove invaluable. However, it’s important to carefully research and select a reputable and qualified financial advisor who aligns with your goals and values.

How Can You Accomplish Financial Planning

Finding the right approach to accomplish financial planning is essential for your long-term success. Here are a few strategies to consider:

1.   Use Online Self-Directed Platforms

By opting for an online self-directed investment platform, you can independently manage your finances without relying on human advice. This choice typically offers lower investment costs since there is no involvement of human intermediaries in transaction handling or research.

2.   Leverage the Expertise of a Financial Advisor

Similar to hiring a Shakopee CPA, enlisting the assistance of a personal financial planner or wealth manager comes at a higher expense but yields promising outcomes. Analysts suggest that actively involving a financial planner can result in a 1.5% to 4% increase in long-term portfolio returns.

Payment Models of Shakopee Financial Advisors

Undoubtedly, it can be costly to opt for the services of a financial planner to enhance investment returns. Therefore, you need to assess whether this option is advantageous for your specific circumstances. To make an informed decision, it is crucial to develop a comprehensive understanding of how financial advisors in Shakopee generate revenue.

The payment structures commonly employed by financial advisors in Shakopee include:

• Hourly Fee: Investors are billed based on the time dedicated to their financial matters, irrespective of their asset value.
• Retainer Fee: Financial advisors charge a predetermined fee, typically on a monthly or annual basis, ensuring their availability for advisory services covered by the retainer.
• Flat Fees: These fees involve a fixed price for financial planning and asset management services. The charges are independent of the investor’s account size, providing a selection of service options.
• Commission: Financial advisors receive a percentage of the funds spent when purchasing high-performing investments. These charges are typically assessed per transaction.
• Asset Management Fee: Investors are subject to fees based on the amount of money they have invested, and these fees are often deducted directly from the investor’s account.

By understanding these payment structures, you can evaluate which approach aligns best with your financial goals and preferences.

Which Payment Structure is  Best?

Be mindful that selecting an inappropriate payment structure may result in potential conflicts of interest.

For instance, if a financial advisor charges an hourly fee but lacks a vested interest in maximizing your returns, they may allocate time to other client accounts. Similarly, financial advisors in Shakopee who receive a flat fee per transaction may engage in unnecessary transactions, potentially impacting your financial interests.

In our assessment, opting for a commission-based fee structure can foster more favorable outcomes. Under this structure, a financial advisor earns a portion of the investment growth, incentivizing them to prioritize your financial success.

How To Choose The Right Financial Advisor In Shakopee

Are you seeking assurance that the financial advisors in Shakopee prioritize your interests over their own when making investment recommendations? An effective way to ascertain this is by inquiring about their fiduciary responsibility to your investments.

When a financial planner is licensed, they are obligated to prioritize your best interests, even if it does not align with their own. This commitment stems from their ethical obligations and regulatory requirements.

Conversely, if a financial planner lacks a strong sense of fiduciary responsibility, they may lead you towards riskier paths. However, these riskier paths may also offer the potential for higher returns.

Given the diverse nature of financial circumstances, there is no single formula to determine which choice is superior – one that is safer or one that offers greater returns. It depends entirely on your needs and circumstances. You may consider experimenting with both approaches to ascertain which yields the best results for you.

The wisest course of action is to schedule a meeting with your financial advisor to assess their proposed path and evaluate your comfort level with it. Ensure that the plan is tailored to achieve the desired outcomes you seek.

By following these guidelines, you can select a financial advisor in Shakopee who prioritizes your interests and offers a customized approach to fulfill your financial goals.

10 Best Financial Advisors in Shakopee, Minnesota

Here is our carefully curated list of the top 10 financial advisors in Shakopee, highlighting their qualifications, areas of expertise, and commitment to providing exceptional financial guidance. Let’s dive in and discover the experts who can help you navigate the complex world of finance with confidence and success.

1. KWG Advisors

Founded in 2015, KWG Advisors is your trusted partner for comprehensive tax preparation, planning, and accounting services. As a full-service firm, they cater to both individuals and small businesses, offering a wide range of services to meet your specific needs. Their expertise includes personal, partnership, and corporate tax returns, monthly, quarterly, and annual business filings, and property tax returns.

In addition to their exceptional tax preparation services, they also provide comprehensive accounting and bookkeeping solutions. From payroll management to basic consulting, such as Cost Benefit or Pricing Analyses, they ensure that your financial records are accurate and up-to-date.

With expertise in tax preparation and planning, accounting and bookkeeping, business consulting, and retirement planning, they have the knowledge and experience to guide you through the complexities of the financial world. They strive to understand their client’s unique needs, wants, and long-term goals, so they can design and implement a tailored strategy that addresses your individual situation.

KWG Advisors
940 Vierling Dr W
Shakopee, MN 55379
Phone: +1 952-445-3040
www.kwgadvisors.com/

2. Alkalai Financial Group

Alkalai Financial Group is a leading financial planning firm dedicated to helping individuals and businesses achieve their financial goals. Founded by Ray Alkalai, a highly experienced wealth distribution strategist with 12 years of expertise, the firm offers a wide range of services designed to optimize wealth creation and protection.

Their areas of expertise encompass various aspects of financial planning, including wealth creation strategies, Social Security benefits optimization, and comprehensive insurance coverage for auto, home, and business needs. With a deep understanding of the intricacies involved in wealth management, Ray Alkalai and his team are well-equipped to craft tailored plans that align with each client’s unique financial objectives.

Alkalai Financial Group
230 1st Ave E
Shakopee, MN 55379
Phone: +1 612-217-0157
www.alkalaifg.com/

3. Paul N Youngs, CFP

Paul is a Certified Financial Planner (CFP), Chartered Retirement Planning Counselor (CRPC), and Accredited Asset Management Specialist (AAMS) that can assist your family with financial planning based on your specific needs.

Whether you’re planning for retirement, saving for your children’s or grandchildren’s college education, or aiming to secure the financial future of your loved ones, he takes the time to carefully identify each goal and create a strategy to address it. He also collaborates with other professionals, such as CPAs, estate planning attorneys, and insurance experts to ensure a comprehensive and coordinated approach to your financial affairs.

With over 15 years of experience in the financial services industry, Paul values the importance of educating clients about the strategies and investments being utilized. By providing this educational support, he aims to instill confidence in clients when making important financial decisions.

Paul N Youngs, CFP
205 South Lewis Street
Shakopee, MN 55379
Phone: (952) 445-8838
www.edwardjones.com/us-en/financial-advisor/paul-youngs

4. Stephen P Huber, CRPC

Stephen covers a broad range of financial areas to cater to diverse client needs, including long-term thinking, assisting widows, consolidating 401ks from previous employers, reviewing portfolio risk, and creating education plans for children.

With a strong passion for responsible saving and long-term investing, he brings a personalized approach to help individuals achieve their financial goals. Growing up in Canby and working for their family business, he embraced the motto of prioritizing customer satisfaction.

Recognizing that each individual has unique financial aspirations, he believes in crafting custom financial strategies rather than relying on generic solutions. Through Edward Jones’s established 5-Step Process, he engages in meaningful conversations by thoroughly documenting all financial goals, going beyond retirement planning, and creating tailored strategies to maximize each potential outcome.

Stephen P Huber, AAMS, CRPC
500 Marschall Rd Ste 140
Shakopee, MN 55379
Phone: (952) 229-4061
www.edwardjones.com/us-en/financial-advisor/stephen-huber

5. Pawlowski & Associates

A team led by Karl Pawlowski, Pawlowski & Associates is dedicated to helping you achieve confidence, connection, and control over your financial life. Their experienced team provides personalized recommendations for a diversified portfolio, along with solutions designed to safeguard you against uncertainties.

Through regular meetings, they review your goals, track your progress, and analyze your investments, ensuring you stay on the right track. With anytime access to your investments and convenient digital tools, you can monitor your financial journey effectively.

Their areas of focus include investments, saving for education, and retirement planning strategies. The accolades received by Karl L Pawlowski, including the Ameriprise Circle of Success from 2006 to 2020 and the Five Star Wealth Manager designation from 2013 to 2022, reflect his expertise and dedication to client success.

Pawlowski & Associates – Ameriprise Financial Services, LLC
1275 Ramsey St Ste 800
Shakopee, MN 55379
Phone: +1 952-641-5275
www.ameripriseadvisors.com/team/pawlowski-associates/

6. True Journey

True Journey brings their expertise to Shakopee with their representative, Chad Huson. With over 20 years of expertise in the financial services industry and a genuine passion for his work, Chad is dedicated to building lasting relationships with his clients, supporting them through life’s changes, and empowering them to make confident financial decisions.

As a trusted advisor, Chad understands that financial planning is a continuous process that requires ongoing engagement. He takes the time to deeply understand his client’s unique circumstances and meets them where they are on their financial journey. By providing comprehensive retirement planning and expert guidance on income-generating assets, he effectively addresses his client’s financial needs and helps them achieve their long-term goals.

Chad Huson – True Journey
275 1st Ave E,
Shakopee, MN 55379
Phone: 612.346.6930
www.trujourneyadvisors.com/shakopee-team.htm

7. Thrivent Financial

Thrivent Financial is a trusted financial planning firm with a rich history of serving individuals, families, and communities since 2002. With a strong commitment to helping clients make wise money decisions and live generously, Thrivent Financial has become a leading name in the industry.

Their areas of expertise encompass a wide range of financial services. From retirement planning and investment management to insurance solutions and wealth accumulation strategies, their team of dedicated financial planners is equipped to assist clients in various aspects of their financial lives.

Guided by their values and Christian principles, they believe in helping individuals live with greater purpose and financial confidence. With a strong focus on ethical practices and a commitment to aligning financial decisions with clients’ values, Thrivent Financial stands as a trusted partner in financial planning, wealth management, and charitable giving.

Thrivent Financial
1226 4th Ave E Ste 100
Shakopee, MN 55379
Phone: (952) 233-3517
www.thrivent.com/

8. Mark Theis

Mark Theis is an experienced and highly regarded financial planner affiliated with Ameriprise Financial. With over 15 years of experience in the financial services industry, Mark has developed a deep understanding of the complexities of personal finance and investment management. He is dedicated to helping clients achieve their financial goals through personalized strategies and expert advice.

As a financial planner at Ameriprise Financial, Mark Theis specializes in various areas of expertise. He has a strong focus on retirement planning, helping clients create a roadmap for a secure and comfortable retirement. Additionally, Mark provides guidance on investment management, assisting clients in building diversified portfolios tailored to their risk tolerance and long-term objectives. He also offers comprehensive financial planning services, including tax planning, estate planning, and risk management.

Mark Theis – Ameriprise Financial
1275 Ramsey Street, Suite 800
Shakopee, MN, 55379
Phone: (952) 641-6275
www.ameripriseadvisors.com/mark.a.theis/

9. U.S. Bancorp Investments

U.S. Bancorp Investments is a leading financial institution specializing in wealth management and investment services. With a rich history dating back to 1863, they bring over a century of experience to its clients. As a trusted partner in financial planning, they offer a wide range of expertise and solutions to help individuals and businesses achieve their financial goals.

The team of experienced professionals at U.S. Bancorp Investments provides guidance in investment management, retirement planning, estate planning, and risk management. Whether clients seek to grow their wealth, plan for a secure retirement, or protect their assets, US Bancorp Investments offers comprehensive solutions tailored to their unique needs.

U.S. Bancorp Investments
8325 Crossings Blvd
Shakopee, MN, 55379
Phone: +1 952-403-7313
www.usbank.com/wealth-management.html

10. Brown Wealth Management

Brown Wealth Management is a highly reputable financial advisory firm based in Eden Praire but also serves clients in Shakopee. With a strong commitment to helping individuals and families achieve their financial goals, Brown Wealth Management offers a comprehensive range of expertise and services.

As a trusted partner in wealth management, Brown Wealth Management specializes in investment management, retirement planning, estate planning, family business planning, cash flow planning, and risk management. Whether clients seek to grow their wealth, plan for a secure retirement, or protect their assets, Brown Wealth Management offers personalized strategies tailored to client’s unique needs and objectives.

Brown Wealth Management
12100 Singletree Ln Suite 175
Eden Prairie, MN 55344
Phone: +1 952-303-6715
www.brownwealth.com/

Note:

The team providing this list of Top Ten financial advisors in Shakopee believes smart people make smart decisions because they educate themselves on the choices they are preparing to make.

We hope we’ve helped you become smarter about choosing a financial advisor that meets your unique and specific needs.

We try to provide readers with up-to-date information that will help them make those good decisions for hiring financial advisors in Shakopee. We hope you’ve enjoyed reading the information we’ve provided and learned about some of the choices for Financial Advisors in the Shakopee area.

No content is intended to constitute professional advice. This content is not responsible or liable for any consequences relating directly or indirectly to any action you take or fail to take based on the information provided. It is very important to do your own analysis, based on your own personal circumstances, before making any investment.

Consult with your own investment, financial, tax, and legal advisers. Readers agree to indemnify and hold harmless the providers of this information, from and against any and all liability, losses, claims, demands, disputes, damages, or costs of any kind.

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If you have any questions about our top 10 lists, please contact Chad Peterson to discuss partnership opportunities.