Minnesota Fiduciary Advisor
Fiduciary Financial Advisor Near Me: A Minnesota Guide
If you are searching for a fiduciary financial advisor near you in Minnesota, New Horizons Boutique Financial Services provides strategy-first fiduciary planning for professionals across the Twin Cities metro and greater Minnesota. Based in Lake Elmo, we serve clients from Minneapolis to Stillwater, Woodbury to Anoka County.
Designed for executives nearing retirement, business owners planning an exit, and professionals seeking financial clarity.
What It Means
What Is a Fiduciary Financial Advisor?
A fiduciary financial advisor is a professional legally and ethically obligated to act in your best interest at all times. Unlike advisors operating under a suitability standard, who must only recommend products that are "suitable" for you, a fiduciary must place your interests above their own when providing financial advice and making recommendations.
Under the Investment Advisers Act of 1940, registered investment advisers owe a fiduciary duty to their clients. This obligation includes providing advice that serves the client's interests, seeking best execution for transactions, and disclosing material conflicts of interest. Learn more about what a fiduciary financial advisor is and how to verify one's status.
Source: U.S. Securities and Exchange Commission, Investment Advisers (as of August 2026).
Key Fiduciary Obligations
- 1 Duty of Care: Provide advice based on your specific financial situation, goals, and risk tolerance.
- 2 Duty of Loyalty: Place your interests above the advisor's own financial interests when making recommendations.
- 3 Disclosure: Inform you of material conflicts of interest that could influence recommendations.
The Difference Matters
Fiduciary Standard vs. Suitability Standard
Not all financial professionals are held to the same legal standard. Understanding the difference between a fiduciary standard and a suitability standard can help you evaluate whether an advisor's obligations align with your expectations.
| Obligation | Fiduciary Standard | Suitability Standard |
|---|---|---|
| Primary Duty | Must act in the client's best interest | Recommendations must be "suitable" for the client |
| Conflicts of Interest | Must be disclosed and, in many cases, avoided | May not require full disclosure |
| Legal Framework | Investment Advisers Act of 1940 | SEC and FINRA brokerage regulations |
| Who Typically Applies | Registered investment advisers (RIAs) | Broker-dealers and registered representatives |
For a deeper comparison, read our guides on whether a fiduciary is better than a financial advisor and the differences between an independent fiduciary advisor and a broker.
Where We Serve
Minnesota Service Areas
New Horizons Boutique Financial Services is based in Lake Elmo, Minnesota, and serves professionals and pre-retirees across the Twin Cities metro and greater Minnesota. If you are looking for a fiduciary financial advisor near you, our team provides comprehensive planning tailored to your goals.
Lake Elmo, MN
Our home office. Fiduciary planning for professionals in Lake Elmo and surrounding communities.
East Twin Cities
Serving Stillwater, Woodbury, and the eastern metro with fiduciary financial planning.
Minneapolis, MN
Fiduciary advisory services for Minneapolis professionals and executives.
St. Paul, MN
Comprehensive fiduciary planning for St. Paul-area professionals nearing retirement.
Anoka County, MN
Fiduciary financial advisory services for residents of Anoka County and surrounding areas.
Twin Cities Metro
Serving the broader Twin Cities metro with strategy-first fiduciary planning.
We also serve clients in Afton, Bayport, Arden Hills, Apple Valley, Andover, Albertville, Belle Plaine, Austin, and Alexandria, Minnesota. View our statewide Minnesota fiduciary advisory page for more information.
"Every plan begins with strategy, not products. Every relationship is built on fiduciary duty and direct access to your advisor."
New Horizons Boutique Financial Services
Practical Steps
How to Find a Fiduciary Financial Advisor Near You
Finding the right fiduciary advisor involves more than a proximity search. These steps can help you evaluate whether an advisor's qualifications and approach align with your needs. For a more detailed walkthrough, see our guide on how to find a good fiduciary financial advisor.
You can verify an advisor's registration through the FINRA BrokerCheck database or the SEC's Investment Adviser Public Disclosure system (as of August 2026).
Verify Fiduciary Status
Check the advisor's Form ADV through the SEC's Investment Adviser Public Disclosure system or use FINRA BrokerCheck to confirm registration as an investment adviser representative.
Review Credentials
Look for FINRA registrations, professional designations, and relevant education. Our team holds FINRA Series 7, 63, 65, and 66 registrations, Life and Health Insurance licenses, an MBA, and a B.S. in Economics from the University of Minnesota.
Understand the Fee Structure
Request a clear explanation of how the advisor is compensated. Understanding whether fees are asset-based, hourly, or flat-fee can help you evaluate alignment with your goals. Read our guide on fiduciary advisor fees.
Schedule a First Conversation
A no-cost, no-pressure first meeting can help you determine whether the advisor's approach fits your needs and goals. Being aware of red flags when choosing a financial advisor can also help you evaluate your options.
Our Approach
A Boutique, Strategy-First Fiduciary Practice
New Horizons Boutique Financial Services takes a different approach to fiduciary planning. We intentionally limit the number of clients we serve, so every relationship receives full time and attention. Every recommendation begins with a clear strategy, not a product. While no strategy can eliminate all risk, starting with a comprehensive plan may help align your decisions with your goals.
Boutique by Design
We intentionally limit our client count so every relationship receives the time and attention it deserves.
Strategy Before Products
Every recommendation begins with a comprehensive strategy, designed to help align your full financial picture before decisions are made.
A More Personal Experience
You work directly with your advisor, building a relationship based on trust, accessibility, and ongoing communication.
Built for the Long Term
We partner with you over time, adapting your strategy as life and goals evolve through quarterly reviews.
Education and Transparency
You are kept fully informed about the strategies and decisions shaping your financial future.
No Templates
Every plan is fully tailored to your unique goals and situation, not adapted from a standard template.
Our services include Retirement Strategy Development, Wealth Management, Tax Optimization Planning, Financial Independence Planning, Business Owner Exit Planning, and Executive Financial Planning.
Common Questions
Frequently Asked Questions About Fiduciary Financial Advisors
What is the average fee for a fiduciary financial advisor?
Fiduciary financial advisors may charge based on a percentage of assets under management, an hourly rate, or a flat fee, depending on the services provided. The specific fee varies based on the complexity of your financial situation and the scope of planning involved. Read our full guide on fiduciary advisor fees.
Is a fiduciary better than a financial advisor?
A fiduciary is a type of financial advisor who is legally required to act in your best interest. Not all financial advisors are fiduciaries; some operate under a suitability standard, which has a lower legal threshold. Whether a fiduciary is the right choice depends on your specific needs, but fiduciary duty provides an additional layer of legal obligation. See our detailed comparison.
Is $500,000 enough to work with a financial advisor?
Many fiduciary advisors work with clients who have $500,000 or more in investable assets, though minimums vary by firm. The right time to engage an advisor depends more on the complexity of your financial situation and your goals than on a specific dollar threshold. Explore this question in depth.
How do I find a good fiduciary financial advisor?
You can find a fiduciary financial advisor by verifying registration through the SEC's Investment Adviser Public Disclosure system or FINRA BrokerCheck, reviewing credentials, understanding the fee structure, and scheduling an initial conversation to assess fit. Read our comprehensive guide on finding a fiduciary advisor.
What is the downside of using a fiduciary?
Potential downsides of working with a fiduciary may include higher fees compared to some non-fiduciary options, possible limitations on product access, and the fact that fiduciary duty alone does not guarantee specific outcomes. Understanding these trade-offs can help you make an informed decision. Read our full analysis of fiduciary downsides.
Schedule a Consultation With a Minnesota Fiduciary Advisor
If you are searching for a fiduciary financial advisor near you in Minnesota, we invite you to schedule a no-cost, no-pressure first conversation. We will listen to your goals, answer your questions, and help you understand where you stand today and what may come next.
Whether you are an executive planning your retirement transition, a business owner preparing for a liquidity event, a professional seeking financial clarity, or someone working toward financial freedom, our complimentary Financial Health Quiz can help you assess where you stand today.
Contact Information
8647 Eagle Point Blvd. Suite #1
Lake Elmo, MN 55042
Phone: (763) 401-1035
Email: info@newhorizonsbfs.com