Top 10 Best Financial Advisors in St. Cloud, Minnesota

Are you currently seeking dependable financial advisors in St. Cloud? 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 St. Cloud?

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 St. Cloud 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 St. Cloud 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 St. Cloud generate revenue.

The payment structures commonly employed by financial advisors in St. Cloud 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 St. Cloud 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 St. Cloud

Are you seeking assurance that the financial advisors in St. Cloud 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 St. Cloud who prioritizes your interests and offers a customized approach to fulfill your financial goals.

10 Best Financial Advisors in St. Cloud, Minnesota

Here is our carefully curated list of the top 10 financial advisors in St. Cloud, 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. Jacobs Financial

Jacobs Financial is a financial services firm headquartered in St. Cloud, MN. Committed to cultivating enduring financial success, the company offers a diverse spectrum of superior financial products and services.

Boasting a team of adept professionals, Jacobs Financial excels in providing expert insights and customized strategies to meet clients’ individual needs. Clients gain access to lasting solutions aligned with their long-term goals through a meticulous one-on-one analysis. The company’s distinctive hallmark lies in its unwavering dedication to exceptional service, consistently delivering responsive assistance backed by a staff deeply committed to reflecting clients’ interests.

Founded by James (Jim) Jacobs and his sons, Andrew and David, the family-owned firm prides itself on fostering robust client relationships while building a legacy of sound financial practices.

Jacobs Financial
1407 33rd St S
St Cloud, Minnesota 56301
Phone: (320) 217-6006 
www.jacobsfinancial.com/

2. Midwest Financial Planners, Inc.

Midwest Financial Planners, Inc. (MFP) guides clients toward a secure future. By crafting robust plans, MFP bolsters families and businesses against life-altering events while nurturing opportunities for the next generations. MFP’s expertise offers clients a means to navigate complex financial landscapes easily.

Midwest Financial Planners collaborates closely with clients to envision potential outcomes for Death, Disability, Education Expenses, and Retirement. Objectives are set collaboratively, with continuous monitoring to ensure goals remain on track.

As dedicated advisors, Midwest Financial Planners focuses on staying informed about Death and Disability Planning, Investment Accumulation, and Distribution. The company prides itself on offering straightforward, actionable strategies and maintaining transparent communication.

Midwest Financial Planners, Inc. 
912 W. St. Germain Street Suite 300
St. Cloud, MN 56301
Phone: (320) 251-3752
www.mfpmn.com/

3. Joshua Nelson – Ameriprise Financial Advisors

Meet Joshua Nelson, an adept Financial Advisor and a dedicated CERTIFIED FINANCIAL PLANNER™ professional associated with Proviant Group. It is a distinguished private wealth advisory practice under Ameriprise Financial Services, LLC.

With Joshua, clients discover tailored financial and investment strategies to cater to their unique circumstances. Drawing upon a wealth of experience, he is poised to guide clients in crafting an individualized investment approach that not only bolsters and safeguards the wealth but also aligns with the client’s risk tolerance and financial aspirations.

Joshua’s commitment extends to preparing the portfolio to navigate diverse market conditions while consistently adapting clients’ strategies to mirror the evolving landscape of their lives. His expertise spans various realms, including Retirement Planning, Tax Strategies, Investment Management, Retirement Income, Education Savings, Insurance, Charitable Giving, and Estate Planning, ensuring comprehensive financial well-being.

Joshua Nelson – Ameriprise Financial Advisors
1765 Roosevelt Rd
St Cloud,  MN  56301-5166
Phone: 320.654.6715
www.ameripriseadvisors/joshua.g.nelson

4. Erik Swanson – Ameriprise Financial Advisors

Erik Swanson, an adept Financial Advisor and Franchise Owner, leads the charge at NextStage Financial Group, a distinguished financial advisory practice within Ameriprise Financial Services, LLC.

Erik’s approach extends to maintaining regular interactions, documenting your goals, and consistently adapting strategies as life evolves. With convenient digital access, you can monitor investments, track progress, and communicate securely with your advisor anytime.

Erik’s mission is to instil confidence and control in your financial journey, offering personalized advice, diversified portfolio recommendations, and solutions to mitigate uncertainty. Expect personalized attention, diversified financial strategies, and ongoing progress assessments across areas such as Retirement Income, Distribution, Planning, Estate Planning, and Investments, supported by Erik’s extensive 24 years of experience in the field.

Erik Swanson – Ameriprise Financial Advisors
630 Roosevelt RdSte 105
St Cloud,  MN  56301-4867
Phone: 320.230.1100
ameripriseadvisors.com/erik.g.swanson

5. Northwestern Mutual

Northwestern Mutual is dedicated to instilling a sense of financial well-being that catalyzes positive outcomes. With a history spanning over 160 years, the company’s mission revolves around fostering client confidence and security.

Central to Northwestern Mutual’s values is an unwavering commitment to ethical conduct, ensuring client financial worries are alleviated. The company specializes in tailoring financial strategies to individual lives and aspirations, allowing clients to envision and achieve a future aligned with their dreams.

Supported by an A++ financial strength rating, Northwestern Mutual’s robust financial foundation empowers clients’ aspirations, further substantiated by an anticipated $6.8 billion dividend payout in 2023.

Northwestern Mutual operates as a mutual company and prioritizes people, directing profits to policy owners since 1872. The firm’s financial advisors serve as trusted allies, translating clients’ aspirations into actionable plans within a supportive framework.

Northwestern Mutual
705 36th St S,
St Cloud, MN 56301
Phone: 320-251-6711
www.northwesternmutual.com

6. Randy Zeilenga – Edward Jones

Randy Zeilenga, a proficient Financial Advisor, operates within the umbrella of Edward Jones. With expertise honed over years of service, Zeilenga specializes in crucial financial domains. His core focus includes honing Retirement Savings Strategies and guiding clients toward securing their future. Additionally, his grasp of Retirement Income Strategies is poised to assist clients in ensuring financial stability during their post-working years.

Businesses seeking effective Retirement Plans find an ally in Zeilenga, who is well-versed in devising strategies that cater to business needs. Portfolio Reviews are another cornerstone of his services, aiding clients in optimizing their financial resources.

Randy Zeilenga’s tenure with Edward Jones solidifies his reputation as a knowledgeable, experienced, and reliable partner in guiding clients toward their financial objectives.

Randy Zeilenga
2848 2nd Street S Suite 195
St Cloud, MN 56301
Phone: (320) 251-0080
www.edwardjones.com/randy-zeilenga

7. Debbie Clausen – Thrivent Financial Advisor

Debbie Clausen, an accomplished Financial Advisor at Thrivent, is committed to transforming aspirations into realities. With designations including FIC and RICP®, she is well-equipped to guide clients toward fulfilling lifelong dreams while contributing to meaningful causes.

Clausen’s approach is rooted in understanding your current position. She leverages her industry expertise to craft a customized roadmap to a financially secure future by aligning her guidance with client objectives and values. Her mission transcends numbers, focusing on enabling clients to lead a life enriched with purpose and gratitude.

As a Thrivent financial professional, Clausen takes pride in providing personalized financial guidance across all life stages. With a belief that money is a tool for empowerment, she helps clients unlock the potential of their resources. With over a decade of experience at Thrivent Financial and an 18-year history in the industry, Clausen brings a wealth of knowledge to her clients’ financial journeys.

Debbie Clausen – Thrivent Financial Advisor
2700 1st St N #100
Saint Cloud, MN 56303
Phone: (320) 253-4382
connect.thrivent.com/deborah-clausen

8. William Saxton – Thrivent Financial Advisor

William Saxton is a dedicated Financial Advisor at Thrivent. He acts as a partner in shaping financial possibilities. With a commitment to client aspirations, Saxton crafts a tailored approach to help you achieve your life’s goals while contributing to what matters most to you.

Saxton’s strategy begins with understanding clients’ current circumstances and ambitions. He draws on his industry expertise by aligning his guidance with the client’s unique values to design a roadmap toward a more secure financial future. His mission transcends transactions, aiming to help clients leverage their financial resources to lead a life abundant in meaning and purpose.

As a Thrivent financial professional, Saxton embodies the company’s ethos of utilizing money as a tool to enrich lives. With a history of assisting clients across diverse life stages, he offers personalized financial guidance to empower individuals to make the most of what they’ve been given. With a dedication that spans years, Saxton stands prepared to help you navigate your financial journey with confidence.

William Saxton – Thrivent Financial Advisor
2700 1st Street N Suite 204
Saint Cloud, MN 56303
Phone: (320) 253-4382
connect.thrivent.com/william-saxton

9. Erik Hanson – Thrivent Financial Advisor

Erik Hanson is a distinguished Financial Advisor at Thrivent. With credentials including RICP® and CLTC®, he stands ready to guide clients through various life stages with personalized financial advice.

A Thrivent financial professional, Hanson embodies the company’s philosophy of viewing money as a means, not an end. This perspective underscores his commitment to assisting clients in using their financial resources to lead a life abundant in significance and appreciation. At Thrivent, the belief is that humanity prospers when individuals maximize their potential.

Hanson’s mission transcends transactions; he aims to provide clients with tailored financial guidance to empower them on their journey. With a career steeped in offering personalized financial solutions, Hanson is poised to help clients make the most of all they have been given, ensuring a life that’s not only financially secure but also enriched with purpose and gratitude.

Erik Hanson – Thrivent Financial Advisor
2700 1st Street N Suite 100
Saint Cloud, MN 56303
Phone: (320) 253-4382
connect.thrivent.com/erik-hanson

10. Gentz Financial Services

Gentz Financial Services, an esteemed establishment since 1980, is committed to assisting Minnesotans in achieving retirement on their own terms. It has upheld a tradition of prioritizing individuals’ financial welfare and fostering enduring relationships in Central Minnesota. The approach revolves around treating clients as family, leveraging experience and expertise to shape brighter financial prospects.

The team at Gentz Financial Services combines industry insights with proven acumen to formulate innovative, forward-thinking retirement strategies. It diligently nurtures steadfast relationships, extending comprehensive financial services that infuse confidence in future endeavors. As an independent agency, it offers a wide spectrum of products and services tailored to diverse lifestyles, harmonizing with specific goals.

The mission is to safeguard and enhance wealth. By attentively absorbing unique retirement aspirations, it crafts well-established, inventive strategies tailored to meet distinct needs. Client dedication is emblematic of Gentz Financial Services. The process hinges on collaboration, ensuring concerns find resolution and voices are heard.

Gentz Financial Services
4170 Thielman Lane Suite 102
Saint Cloud, MN 56301
Phone: 320-258-3688
www.gentzfinancial.com/

Note:

The team providing this list of Top Ten financial advisors in St. Cloud 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 good decisions for hiring financial advisors in St. Cloud. We hope you’ve enjoyed reading the information we’ve provided and learned about some of the choices for Financial Advisors in the St. Cloud 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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