Woodbury, MN
Financial Advisor in Woodbury, MN
New Horizons Boutique Financial Services is a fiduciary financial planning firm located in Lake Elmo, minutes from Woodbury. We serve Washington County executives, professionals, and business owners who want a strategy built around their goals — not a product sales pitch.
A Different Kind of Firm
Woodbury Deserves a Financial Advisor Who Works for You
A financial advisor in Woodbury, MN should be more than someone who sells products. At New Horizons Boutique Financial Services, we operate as a fiduciary — meaning we are legally and ethically obligated to act in your interest at every step. Our office in Lake Elmo places us just minutes from Woodbury via I-94, and we regularly work with executives, professionals, and business owners throughout Washington County.
Many of the largest firms serving Woodbury operate under a broker-dealer model, where advisors are permitted to recommend products that are merely "suitable" for you — even if those products carry higher fees or pay the advisor a commission. We take a fundamentally different approach: every engagement begins with a comprehensive financial strategy, and product recommendations, if any, follow only after that strategy is clearly defined. Learn more about what it means to work with a fiduciary financial advisor.
Who We Serve in Woodbury
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1
Executives Nearing Retirement
Washington County professionals planning a confident transition to financial independence who need a clear, comprehensive strategy before they leave the workforce. See our guide to executive financial planning in the Twin Cities.
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2
Professionals Seeking Clarity
High-income individuals who have accumulated assets but lack a cohesive strategy tying their investments, taxes, income, and estate plans together.
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3
Business Owners Exiting
Woodbury and Washington County business owners preparing for a liquidity event who need tax strategy, wealth preservation planning, and a post-sale income plan.
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4
People Pursuing Financial Freedom
Individuals developing a long-term strategy designed to create flexibility, security, and the option to stop working on their own timeline.
Know the Difference
Fiduciary Advisor vs. Broker: What Woodbury Residents Need to Know
Not all financial advisors in Woodbury, MN operate under the same legal standard. Understanding the difference could significantly affect the advice you receive and the costs you pay. Results and individual advisor arrangements vary — this comparison reflects general industry distinctions.
| Factor | Fiduciary Advisor (New Horizons BFS) | Broker-Dealer Model |
|---|---|---|
| Legal Standard | Fiduciary duty — must act in your interest on an ongoing basis | Suitability or Reg BI standard — applies primarily at the point of a recommendation |
| Compensation | Fee-based; no product sales commissions that could influence advice | May earn commissions on products sold; compensation-related conflicts may exist |
| Planning Approach | Comprehensive strategy across all financial areas before any product discussion | Recommendations may begin with products rather than a coordinated strategy |
| Advisor Access | Direct access to your advisor; intentionally limited client base | Larger client rosters may limit direct advisor availability |
| Ongoing Review | Quarterly strategy reviews adapting as life and goals change | Review frequency and depth varies by firm and advisor |
See our full fiduciary vs. broker comparison for a detailed analysis. Individual advisor arrangements vary.
Our Services
Comprehensive Financial Planning for Woodbury Professionals
Every service we offer is grounded in a complete financial strategy. No product is recommended before we have a clear picture of your full financial situation, goals, and priorities. Outcomes depend on individual circumstances; no specific results are guaranteed.
Retirement Strategy Development
A comprehensive analysis of your assets, income streams, projected expenses, and Social Security options to help map a path toward financial independence. We coordinate this with Minnesota's tax environment, including state income tax rates up to 9.85% and the state's Social Security taxation rules.
Tax Optimization Planning
Strategic tax planning coordinated with your investment and retirement strategy, designed to help reduce your tax exposure over time. Tax outcomes depend on your individual situation and may involve trade-offs we discuss transparently. See our tax planning guide for high-income individuals.
Wealth Management
Portfolio strategy designed to align with your long-term goals and risk tolerance, reviewed quarterly and adjusted as market conditions or your circumstances change. Explore our boutique wealth management approach for the east metro.
Financial Independence Planning
A structured analysis of your full financial picture designed to answer one question: could you stop working on your own terms? We map your assets, income sources, and expenses to identify when financial independence may become achievable.
Business Owner Exit Planning
Strategic planning for Washington County business owners preparing for a sale or liquidity event — including the tax implications of a transaction, post-sale income planning, and the transition from business cash flow to personal wealth strategy.
Ongoing Partnership and Review
Financial planning is not a one-time event. We provide quarterly strategy reviews, keeping your plan current with changes in tax law, your personal circumstances, and market conditions. You work directly with your advisor throughout.
The New Horizons Difference
Boutique by Design: What a Smaller Firm Means for You
Large financial firms serving Woodbury typically manage hundreds or thousands of clients per advisor. That scale can mean generic plans, limited access, and advisors who are incentivized to move clients toward proprietary products. New Horizons BFS is built differently. We intentionally limit the number of clients we serve so that every relationship receives the full time and attention it deserves.
As a hub for fiduciary financial planning in the east Twin Cities, we serve Woodbury, Lake Elmo, Stillwater, Cottage Grove, and the broader Washington County area. Read more on our east Twin Cities fiduciary advisor page.
Strategy Before Products
Every engagement begins with a comprehensive strategy covering investments, taxes, income, cash flow, insurance, and estate planning. Product discussions come only after the strategy is established.
No Templates
Every plan is fully customized to your unique goals, timeline, and financial situation. We do not use standardized templates or apply the same framework to every client.
Education and Transparency
You will understand not just what we recommend, but why. We keep clients fully informed about the strategies and decisions shaping their financial future.
Long-Term Partnership
Your financial life evolves. Our work does too. Quarterly reviews and ongoing direct access to your advisor ensure your strategy adapts as your goals and circumstances change.
Our Process
How We Build a Financial Plan for Woodbury Clients
Our process is designed to provide structure and clarity from the first conversation. We hold FINRA Series 7, 63, 65, and 66 licenses along with Life and Health Insurance licensing. Lars Engman holds an MBA and Alec Engman holds a B.S. in Economics from the University of Minnesota. Every recommendation is grounded in a thorough analysis of your complete financial picture.
The first meeting is complimentary and carries no obligation. It is designed to help both of us determine whether working together makes sense for your situation. We serve clients throughout Washington County, including Woodbury, from our office at 8647 Eagle Point Blvd., Suite 1, Lake Elmo, MN — just minutes from Woodbury via I-94.
No-Obligation Discovery Conversation
We start with a complimentary conversation to understand your current situation, what questions you have, and what you are hoping to accomplish. There is no pressure and no cost.
Comprehensive Financial Analysis
We review your full financial picture: assets, income, expenses, debts, insurance coverage, tax situation, and estate planning needs. This includes how Minnesota's specific tax rules — including state income tax on Social Security for higher earners — affect your individual circumstances.
Strategy Development
We build a coordinated plan covering retirement income, tax positioning, investment strategy, insurance needs, and estate planning. Every element is designed to work together toward your stated goals. See our full guide to retirement planning in Minnesota for a preview of what this covers.
Implementation and Ongoing Partnership
Once the strategy is established, we implement it and schedule quarterly reviews to ensure it evolves with your life. You have direct access to your advisor throughout the relationship — no junior staff, no handoffs.
Frequently Asked Questions
Questions About Finding a Financial Advisor in Woodbury, MN
These are the questions we hear most often from Woodbury and Washington County residents evaluating their options.
What Is a Normal Fee for a Financial Advisor?
Financial advisor fees in Woodbury, MN vary based on the service model. Fee structures commonly include a percentage of assets under management (typically ranging from approximately 0.5% to 1.5% annually, though rates vary by firm and account size), flat or retainer fees for comprehensive planning, or hourly fees for project-based work. Commission-based advisors may not charge upfront fees but earn income through the products they sell. We encourage anyone evaluating options to ask each advisor to disclose all forms of compensation in writing before engaging. At New Horizons BFS, we walk through our fee structure during the complimentary first meeting.
What Is a Red Flag When Evaluating a Financial Advisor?
Common warning signs when evaluating a financial advisor in Woodbury include: recommending products before fully understanding your situation; vague or evasive answers about how they are compensated; refusal to confirm fiduciary status in writing; pressure to make quick decisions; and promises of specific returns or outcomes. A trustworthy advisor welcomes your questions, explains their reasoning clearly, and gives you time to make considered decisions. Verifying an advisor's registration and any disciplinary history through FINRA BrokerCheck or the SEC's Investment Adviser Search is always a sound step before engaging anyone.
How Do I Find a Fiduciary Financial Advisor in Woodbury, MN?
A fiduciary financial advisor in Woodbury, MN is an advisor legally obligated to act in your interest rather than their own. To find one, look for advisors registered as investment advisers (RIAs) with the SEC or state, rather than solely broker-dealer representatives. Ask directly: "Are you a fiduciary at all times during our relationship?" New Horizons BFS operates as a fiduciary and serves Woodbury clients from our Lake Elmo office. You can also read our dedicated guide to finding a fiduciary financial advisor in Minnesota.
Is $200,000 Enough to Work With a Financial Advisor?
Many financial advisors have minimum asset requirements, but those thresholds vary widely by firm and service model. Some advisors set minimums at $250,000 or above in investable assets; others work on retainer or flat-fee structures with no asset minimum. More relevant than a specific number is whether your financial situation — your goals, complexity, timeline, and income — would benefit from comprehensive planning. At New Horizons BFS, the best starting point is a complimentary conversation. We will be straightforward about whether we are the right fit for your situation and what working together would look like.
What Questions Should I Ask a Financial Advisor Before Hiring Them?
Before working with any financial advisor in Woodbury, MN, consider asking: (1) Are you a fiduciary at all times? (2) How are you compensated — do you receive commissions? (3) What is your process for building a financial plan? (4) How often will we meet, and will I work directly with you? (5) What credentials and licenses do you hold? (6) How do you coordinate tax planning with investment and retirement strategy? The answers reveal whether the advisor's interests align with yours and whether their approach fits your needs. Our fiduciary vs. broker comparison covers several of these distinctions in detail.
Does New Horizons BFS Work With Clients Who Are Not Yet Ready to Retire?
Yes. Many of our Woodbury and Washington County clients come to us five to fifteen years before they plan to retire. Earlier engagement often creates more planning opportunities — particularly around tax positioning, savings strategies, and estate planning. If you are unsure whether you are "ready" for financial planning, our process begins with a no-obligation conversation to help you understand where you stand today and what a strategy might look like for your situation.
Keep Exploring
Related Resources from New Horizons BFS
Every guide below is written to help Woodbury and Washington County professionals make more informed decisions about their financial future. No signup required.
Fee-Only Planning
Fee-Only Financial Advisor Near Woodbury, MN
What fee-only and subscription-based planning looks like and how to evaluate it for your situation.
Executive Planning
Executive Financial Planning in the Twin Cities
Deferred compensation, stock options, and retirement timing for corporate professionals in the metro.
Fiduciary Advisor
Fiduciary Financial Advisor — East Twin Cities
Our hub page for fiduciary planning across Lake Elmo, Stillwater, Woodbury, and Washington County.
Retirement
Retirement Planning in Minnesota: What Professionals Need to Know
A strategy guide covering income, taxes, Social Security, and the decisions that matter most for Minnesota professionals.
Make an Informed Choice
Independent Fiduciary Advisor vs. Broker: What Every Investor Should Know
A side-by-side breakdown of legal standards, compensation structures, and planning approaches.
Wealth Management
Boutique Wealth Management for Lake Elmo Professionals
A deeper look at the portfolio strategy and investment management approach we use for east metro clients.
Serving Woodbury and Washington County
Nearby in Lake Elmo. Built for the East Twin Cities.
Our office at 8647 Eagle Point Blvd., Suite 1, Lake Elmo, MN places us just minutes from Woodbury via I-94. We serve professionals and families throughout Washington County, including Woodbury, Stillwater, Cottage Grove, Hastings, and the surrounding communities. Our work as a fiduciary financial advisor in the east Twin Cities is grounded in the belief that every client deserves a strategy built specifically for them.
Lake Elmo
Our Home Office
8647 Eagle Point Blvd., Suite 1, Lake Elmo, MN 55042
Woodbury
Primary Service Area
Serving executives and professionals throughout Woodbury and Washington County.
East Metro
Metro-Wide Coverage
Stillwater, Cottage Grove, Hastings, St. Paul, and communities across the east Twin Cities.
Ready to Get Started?
The First Conversation Is Complimentary
No cost, no obligation, no pressure. The first meeting is designed to help you understand where you stand today and what a strategy built around your goals might look like. We will be straightforward about whether we are the right fit for your situation.
Or reach us directly: (763) 401-1035 or info@newhorizonsbfs.com
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