Transparent Financial Planning Near Woodbury, MN
Finding a Fee-Only or Subscription-Based Financial Advisor Near Woodbury, MN
A practical guide for Woodbury-area executives comparing advisor compensation models. New Horizons Boutique Financial Services operates on a transparent, subscription-based planning model and serves the Woodbury community from our office in nearby Lake Elmo.
Understanding Advisor Compensation
Fee-Only, Fee-Based, and Commission-Based: What the Spectrum Means for Woodbury Executives
When evaluating a financial advisor, compensation structure is one of the most important due-diligence questions to ask. The three most common models exist on a spectrum, and understanding them helps you evaluate any firm with clear eyes.
A fee-only financial advisor is compensated exclusively by fees paid directly by clients. The advisor receives no commissions, referral payments, or revenue from product sales of any kind. This is the most restrictive model and is associated with organizations such as NAPFA.
A fee-based advisor charges client fees and may also earn commissions on certain products. The degree to which commissions influence recommendations varies significantly by firm and advisor. A well-structured fee-based practice leads with planning and introduces products only when a genuine client need is identified.
A commission-based advisor earns income primarily or exclusively from the products they sell. This model carries the highest potential for compensation-driven conflicts, as revenue is tied directly to product transactions rather than planning outcomes.
Any advisor you consider should clearly disclose their compensation in their Form ADV. Review it before engaging. See also: What is a Fiduciary Financial Advisor? and Independent Fiduciary Advisor vs. Broker.
Our Model
How New Horizons BFS Is Structured
New Horizons operates primarily on a subscription-based and flat-fee planning model. Most clients pay a predictable, recurring planning fee that is not tied to the size of their portfolio or to any product transaction. This creates a clear, stable foundation for an ongoing planning relationship.
Where a client need is identified through the planning process, such as a life insurance requirement uncovered during a retirement income or estate planning review, New Horizons can handle product implementation in-house. This means clients do not need to be referred to outside parties when a planning-driven product need arises. The firm may earn commissions on such products, which are disclosed in full as required by regulatory obligations.
For clients who want their investment assets directly managed, an optional AUM-based fee is available and disclosed separately. Clients who prefer to manage their own brokerage accounts are equally welcome and receive ongoing investment guidance and strategy as part of their planning relationship. Asset management is never a prerequisite for comprehensive financial planning.
The Distinction That Matters
At New Horizons, the financial plan always comes first. Products are introduced only when a genuine need is identified through the planning process. The strategy drives the recommendation — not the other way around. Any product commissions are disclosed and arise from planning-identified needs, not from sales quotas or product incentives.
As with any engagement where an advisor may earn product commissions, clients should review the firm's full fee and compensation disclosures. New Horizons discloses all compensation sources as required by its regulatory obligations.
Why It Matters Here
What Transparent, Subscription-Based Planning Means for Woodbury Executives
Woodbury and the surrounding Washington County corridor attract a significant concentration of senior professionals, executives, and business owners. Many arrive at their mid-50s with considerable accumulated wealth, complex benefit packages, and a growing awareness that the decisions ahead — retirement timing, tax strategy, and income transition — carry more consequence than earlier financial decisions.
In that context, how your advisor's planning fee is structured matters. When the primary engagement is a transparent subscription or flat planning fee, the planning process is focused on your goals and your strategy. Any products introduced along the way arise from genuine planning-identified needs, are disclosed clearly, and can be handled in-house rather than requiring referrals to outside parties. That continuity is a meaningful difference from a model where product sales drive the conversation from the start.
That clarity is especially valuable when navigating strategy questions — whether to roll over a 401(k), how to sequence retirement distributions for tax efficiency, or when to begin Social Security benefits. These decisions are best answered by an advisor whose guidance is shaped by your strategy, not by product incentives.
Complex Decisions Benefit from Aligned Advice
-
1Equity compensation and stock option decisions
-
2Retirement income sequencing and Roth conversion analysis
-
3Business exit and liquidity event planning
-
4Minnesota state income tax coordination on retirement distributions
-
5Estate planning integration across investment and insurance decisions
Related: Fiduciary Financial Advisor in the East Twin Cities
Our Team
Credentials and Background
Lars Engman, MBA, leads the firm's financial planning and advisory work, bringing graduate-level business education and extensive FINRA-licensed experience to each client relationship. Alec Engman's economics background from the University of Minnesota adds analytical depth to the team's planning process.
Office: 8647 Eagle Point Blvd. Suite #1, Lake Elmo, MN 55042
Serving Woodbury, Stillwater, Cottage Grove, Hastings, and the broader Washington County area.
Serving Woodbury from Lake Elmo
A Boutique Practice Built for the Woodbury Executive
New Horizons Boutique Financial Services is based in Lake Elmo, minutes from Woodbury, and serves executives and professionals throughout Washington County and the Twin Cities metro. The practice is intentionally designed as a boutique, limiting the number of client relationships accepted so that each receives genuine depth of attention rather than being managed at scale.
Lars Engman, MBA, founded the firm on a strategy-first philosophy: no product is ever recommended before a comprehensive financial strategy is built. That means your plan covers investments, taxes, retirement income, insurance, cash flow, and estate coordination as an integrated whole — not as disconnected product conversations.
For a Woodbury executive navigating the final decade before financial independence, that integrated approach tends to surface planning opportunities that a siloed, transactional relationship would miss. Tax-efficient retirement income sequencing requires a complete view of all income sources, investment accounts, and future obligations — and an advisor whose guidance is not shaped by product incentives.
Learn more: Wealth Management in Woodbury, MN
How We Work
The New Horizons Planning Process
Strategy before products. Clarity before recommendations. Every engagement follows the same disciplined sequence.
Discovery Conversation
A no-pressure first conversation to understand your current financial position, goals, and questions. No obligation, no pitch.
Comprehensive Strategy Build
A full financial strategy covering investments, taxes, retirement income, insurance, cash flow, and estate planning — built before any product is discussed.
Implementation
Disciplined execution of your strategy, coordinated across accounts and aligned with your tax situation and timeline.
Ongoing Partnership
Quarterly reviews and proactive communication ensure your strategy evolves with life changes, market shifts, and new planning opportunities.
Services
Financial Planning Services for Woodbury Executives
Financial planning services are delivered on a subscription or flat-fee basis. Clients who want their assets directly managed pay a separately disclosed AUM fee — but asset management is never required. Clients who prefer to manage their own brokerage accounts receive ongoing investment guidance and strategy as part of their planning relationship. Results may vary based on individual financial circumstances.
Retirement Strategy Development
Coordinating 401(k)s, IRAs, pension income, and Social Security timing into a coherent retirement income plan. Minnesota's income tax treatment of retirement distributions is factored into the strategy.
Tax Optimization Planning
Developing tax-aware strategies designed to help manage your overall tax burden across investment accounts, retirement distributions, and income transitions. Trade-offs and individual tax situations always apply.
Financial Independence Planning
Analyzing assets, income streams, and anticipated expenses to help answer the question many Woodbury executives are quietly asking: could you stop working on your own terms?
Business Owner Exit Planning
Supporting business owners in Washington County through strategic planning for liquidity events, wealth transition, and life after business ownership. Exit planning outcomes depend on deal structure, market conditions, and tax strategy.
Wealth Management
Ongoing investment strategy, asset coordination, and portfolio monitoring aligned with your broader financial plan. Direct asset management is available as an optional, separately priced service. Investment strategies involve risk and do not guarantee specific outcomes.
Fiduciary Advisory Across All Services
Every service area is delivered under a fiduciary standard, meaning we are legally and ethically obligated to act in your best interest. See our fiduciary planning guide for Minnesota for more detail.
What Sets Us Apart
Why Woodbury Executives Choose New Horizons BFS
Most advisory firms require you to hand over your assets before they will plan with you. New Horizons is intentionally different. Comprehensive financial planning is available on a subscription or flat-fee basis. Asset management is an optional add-on, never a prerequisite. You work directly with your advisor, not a support team or a rotating cast of associates.
Where a planning-identified need requires a product — life insurance being a common example — New Horizons can handle that in-house. Clients benefit from continuity and do not need to be sent to outside parties. That combination of transparent planning fees, full-service capability, and a strategy-first discipline creates the conditions for genuinely personalized advice. No templates. No product quotas. No pressure to move faster than your situation warrants.
Questions about how fiduciary advisors compare to brokers? Read: Independent Fiduciary Advisor vs. Broker.
Frequently Asked Questions
Common Questions from Woodbury Executives
Answers to the questions most often asked when Woodbury-area professionals are researching financial advisor compensation models and fiduciary planning.
What does fee-only mean, and how is it different from fee-based?
A fee-only advisor is compensated solely by fees paid directly by clients — no commissions, no referral payments, and no revenue from product sales. A fee-based advisor charges client fees but may also earn commissions on certain products, which can create conflicts of interest. Fee-only is the more restrictive designation and is associated with organizations such as NAPFA. New Horizons operates on a subscription-based and flat-fee planning model. Clients pay a transparent planning fee — not commissions tied to product sales. Asset management is available as an optional, separately priced service for clients who want their portfolios directly managed. Clients who prefer to manage their own brokerage accounts are welcome and receive investment guidance as part of their planning relationship. Always review a firm's Form ADV to fully understand how any advisor is compensated.
What does financial advisor pricing typically look like near Woodbury?
Woodbury-area executives will encounter several fee structures when evaluating financial advisors. AUM-based fees (a percentage of assets under management, typically ranging from approximately 0.50% to 1.25% annually as of 2026) are common at larger wealth management firms. Subscription or retainer-based models charge a flat recurring fee for ongoing planning access, regardless of asset size. Flat-fee or project-based engagements are charged for defined planning work. Hourly rates apply at some planning-only firms. The right structure depends on what services you need, whether you want ongoing management or planning guidance, and how you prefer to be billed. New Horizons discusses its specific fee structure transparently during an initial conversation — there is no obligation to that first meeting.
How does a subscription-based financial planning model work?
Instead of paying a percentage of your investable assets each year, a subscription-based planning model charges a flat recurring fee — monthly or annually — for access to ongoing financial planning, strategy reviews, and direct advisor access. This decouples the cost of planning from the size of your portfolio, which can be meaningful for executives who want comprehensive planning guidance but prefer to maintain control of their own investment accounts. New Horizons also offers standalone planning engagements for clients who prefer a one-time or project-based approach rather than an ongoing retainer. Both models are structured around your planning needs, not around generating product revenue.
Are fee-only financial advisors worth it for executives nearing retirement?
For executives navigating complex decisions around retirement timing, tax strategy, equity compensation, and income transition, a transparent, planning-focused advisor can provide value that exceeds the cost of the engagement. That said, value depends heavily on the quality of the advice, the depth of the planning process, and whether the advisor specializes in situations like yours. A comprehensive, strategy-first planning engagement is designed to identify tax-efficient strategies, coordination opportunities, and risk gaps that may not surface without an integrated view of your financial picture. Individual results vary based on circumstances.
Is a fiduciary advisor the same as a fee-only advisor?
No. These terms describe different attributes. Fiduciary refers to the legal standard of care: a fiduciary is legally obligated to act in the client's best interest. Fee-only refers strictly to the compensation model: no commissions or product payments of any kind. Many fee-only advisors are fiduciaries, but the designations are independent of each other. An advisor can be a fiduciary while also operating on a fee-based or subscription model. The key question is whether the advisor discloses all compensation clearly and acts in your interest at all times. See our full explanation: What is a Fiduciary Financial Advisor?
What is a red flag when evaluating a financial advisor near Woodbury?
Several patterns warrant scrutiny when evaluating any financial advisor. Vague or evasive answers about compensation, reluctance to provide their Form ADV, recommending products before asking detailed questions about your situation, or framing every financial need as something requiring a product solution are worth noting. A reputable advisor should be able to clearly explain how they are paid, what their fiduciary obligations are, and how they handle potential conflicts. Fee disclosures should be provided clearly and in writing as part of the engagement process.
Does New Horizons BFS serve clients in Woodbury, MN?
Yes. New Horizons Boutique Financial Services is located in Lake Elmo, MN, which borders Woodbury along the eastern Twin Cities metro corridor. We serve executives, professionals, and business owners throughout Woodbury, Stillwater, Cottage Grove, Hastings, and the broader Washington County area. Many of our clients are professionals who have spent their careers in the Twin Cities metro and are now planning the transition to financial independence.
Educational Resources
From the New Horizons Blog
Practical guides written for executives and professionals navigating retirement, taxes, and financial independence in Minnesota.
Retirement
Retirement Planning in Minnesota: What Professionals Need to Know
A comprehensive look at the retirement planning landscape for Minnesota professionals, including state tax considerations and income sequencing strategies.
Read the guide
Tax Planning
Tax Planning Strategies for High-Income Individuals
An overview of tax-aware strategies designed to help high-income executives manage their tax burden across investment accounts and income transitions.
Read the guide
Financial Independence
Financial Independence Planning: A Strategy Guide
What financial independence actually means, how to analyze whether you can stop working on your own terms, and the planning steps involved.
Read the guide
Minnesota Taxes
Minnesota State Taxes on Retirement Income: What You Need to Know
How Minnesota taxes Social Security, pensions, IRA distributions, and other retirement income — and why it matters for your distribution strategy.
Read the guide
Social Security
Social Security Claiming Strategy: A Guide for Pre-Retirees
A practical breakdown of Social Security timing decisions, spousal strategies, and how claiming age interacts with your broader retirement income plan.
Read the guide
Business Exit
Business Owner Exit Planning in Minnesota
Strategic planning considerations for Minnesota business owners approaching a liquidity event, sale, or ownership transition.
Read the guide
Connect and Learn
Follow Our Work and Read Client Reviews
New Horizons regularly publishes short-form financial education videos on YouTube covering retirement strategy, tax planning, and financial independence topics relevant to Minnesota professionals. Our Google Business Profile includes client reviews from people we have worked with in the Woodbury and Lake Elmo area.
We share planning insights, firm updates, and educational content across LinkedIn and Facebook. If you prefer to get a sense of who we are before scheduling a conversation, these are good places to start.
Educational Video Content
Watch Before You Schedule
Our YouTube channel features short educational videos on topics including retirement income planning, Social Security timing, Roth conversions, and Minnesota tax strategy. They are designed to help you think through financial decisions before you ever sit down with an advisor.
We believe an informed client makes better decisions and asks better questions. The videos reflect the same planning philosophy behind every client engagement: strategy and education first.
Visit Our YouTube ChannelGet Started
Ready to Talk with a Transparent, Subscription-Based Financial Advisor Near Woodbury?
The first conversation is complimentary and comes with no obligation. It is an opportunity to ask questions, understand our approach and fee structure, and determine whether our planning process is the right fit for your situation.
New Horizons Boutique Financial Services
8647 Eagle Point Blvd. Suite #1, Lake Elmo, MN