St. Croix Valley Wealth Management
Wealth Management in Stillwater, MN
New Horizons Boutique Financial Services provides strategy-first wealth management designed to help Stillwater professionals transition from career success toward financial independence. We work with executives nearing retirement, professionals seeking clarity, and business owners planning their next chapter.
Stillwater, Minnesota
A St. Croix Valley Approach to Wealth Management
Stillwater sits along the St. Croix River in Washington County, drawing professionals who value both career ambition and quality of life. Many residents commute to the Twin Cities for work at major Minnesota employers, while others run businesses that serve the St. Croix Valley economy. Our wealth management approach is built for these specific circumstances.
Our office at 8647 Eagle Point Blvd in Lake Elmo is approximately 15 minutes from downtown Stillwater, making in-person meetings straightforward for Stillwater residents. We intentionally limit our client count so every relationship receives the time and attention your financial decisions deserve. This boutique model means you work directly with your advisor, not a call center or rotating team member.
If you are exploring what wealth management actually involves, our guide on the difference between wealth management and a financial advisor may help clarify the distinction before you schedule a conversation.
Who We Serve in Stillwater
- 1 Executives nearing retirement at Twin Cities employers who need a structured transition from career income to retirement income
- 2 Professionals seeking clarity who want to understand where they stand today and what steps come next
- 3 Business owners planning an exit who need a coordinated strategy for a liquidity event and life after the sale
- 4 Individuals pursuing financial freedom who are developing a long-term strategy for flexibility and security
Minnesota Tax Landscape
What Makes Wealth Management Different for Stillwater Residents
Minnesota's tax environment creates planning considerations that generic national advice may overlook. Understanding these factors is one reason a local, strategy-first advisor may add value beyond what a template-based service provides.
Minnesota Income Tax
Minnesota's marginal income tax rate reaches 9.85% for high earners, with a proposed additional tier reaching 10.15% on income above certain thresholds. Traditional 401(k) and IRA withdrawals are fully taxable at the state level. Understanding how Minnesota taxes retirement income is essential for distribution planning. Results vary by individual tax situation.
Minnesota Estate Tax
Minnesota's estate tax exclusion is set at $4 million for decedents dying in 2026, an increase from the prior $3 million threshold, according to Minnesota legislative proposals (SF 4469, as of June 2026). This is far below the federal estate tax exemption, meaning some estates may face state-level tax without federal exposure. Planning strategies may help reduce this burden, though outcomes depend on individual circumstances.
Social Security Taxation
Minnesota taxes Social Security benefits for higher-earning retirees, though partial subtractions may be available below certain income thresholds. Coordinating Social Security claiming strategy with other income sources may help manage the tax impact, though results vary based on your complete financial picture.
Tax figures cited are as of 2026. Minnesota tax rules may change. Consult a tax professional for guidance specific to your situation.
Comprehensive Services
Wealth Management Services for Stillwater Professionals
Every recommendation begins with a clear strategy before any products are discussed. Our services are designed to work together as part of your comprehensive financial picture, not in isolation.
Retirement Strategy Development
Comprehensive planning for your transition from career to financial independence, including 401(k) optimization, IRA strategies, Social Security timing, and Minnesota-specific retirement considerations.
Tax Optimization Planning
Coordinated tax strategies designed to help reduce your exposure to Minnesota state taxes and federal obligations. This includes Roth conversion planning during the pre-RMD window. Results vary by individual tax situation and may involve trade-offs.
Financial Independence Planning
Analysis of your assets, income streams, and expenses to determine readiness for financial independence. Our financial independence planning framework aims to answer whether you can stop working with confidence. All investing involves risk of loss.
Business Owner Exit Planning
Strategic planning for business owners preparing for a liquidity event, including valuation considerations and post-sale wealth management. Learn about the 5 Ds of exit planning and how they apply to your situation.
Executive Benefits Coordination
For executives at Twin Cities employers, we coordinate employer stock options, deferred compensation, and pension benefits into your overall strategy. See our guides for executive financial planning and nonqualified deferred compensation.
Estate and Legacy Coordination
Coordination with estate planning attorneys and tax professionals to align your wealth transfer strategy with Minnesota estate tax considerations. Minnesota's $4 million estate tax exclusion (2026) may affect planning differently than federal rules.
Our Process
Strategy Before Products
Our wealth management process begins with understanding your complete financial picture before making any recommendations. This strategy-first approach is designed to ensure every decision supports your long-term goals.
Comprehensive Financial Discovery
We analyze your complete financial situation, including investments, retirement accounts, employer benefits, insurance, estate planning, and tax considerations. This includes understanding Minnesota-specific factors like state tax implications and employer stock option strategies.
Goal Setting and Strategy Development
Together, we establish clear financial goals and develop a comprehensive strategy addressing investment allocation, tax optimization, retirement planning, and risk management. Every strategy is tailored to your specific situation, not a generic template.
Implementation and Coordination
We implement your strategy with careful attention to coordination across all financial areas. This includes working with your existing tax professional and estate planning attorney to ensure all aspects of your plan work together effectively.
Ongoing Monitoring and Adjustments
Your strategy evolves as your life changes. We provide quarterly reviews and ongoing adjustments to help keep your plan aligned with your goals, market conditions, and changing tax laws.
What Sets Us Apart
A Boutique Model Built for Stillwater
We are not a large national firm with hundreds of clients per advisor. We are intentionally boutique by design, limiting our client count so every relationship receives full time and attention. This is our core differentiator.
Boutique by Design
We intentionally limit our client count so every relationship receives the time and attention it deserves. Your advisor knows your situation in detail, not just your portfolio balance.
Direct Advisor Access
You work directly with your advisor, building a relationship based on trust and accessibility. No layers of staff between you and the person making recommendations about your financial future.
No Templates
Every plan is fully tailored to your unique goals and situation. We do not start with a template and fill in blanks; we start with your situation and build from there.
Professional Credentials
Our team holds the following licenses and credentials:
Learn more about Lars Engman, MBA and our team's approach to fiduciary wealth management. Our fiduciary advisory services in the east Twin Cities cover Stillwater and surrounding communities.
Serving the St. Croix Valley
Wealth Management Across Washington County
Stillwater is part of a cluster of Washington County communities we serve from our Lake Elmo office. If you are in a neighboring community, we have dedicated resources for your area as well.
We also serve clients in Arden Hills, Apple Valley, Anoka, Albertville, Belle Plaine, Austin, and Alexandria, MN.
Frequently Asked Questions
Questions About Wealth Management in Stillwater
What is the difference between wealth management and a financial advisor?
A financial advisor typically focuses on investment advice and portfolio management, while wealth management takes a broader approach that may include investment strategy, tax planning, retirement income planning, estate coordination, and risk management. Wealth management is designed to address your entire financial picture, not just your portfolio. For a detailed comparison, see our guide on the difference between wealth management and a financial advisor.
Is it worth paying for wealth management?
Whether wealth management adds value depends on your individual situation. If you have complex financial decisions involving executive compensation, business ownership, tax planning across multiple income sources, or retirement transition planning, a coordinated strategy may help you make more informed decisions. However, wealth management involves costs, and the value depends on the complexity of your situation and the quality of the advice. We offer a no-cost first conversation so you can evaluate whether our services fit your needs before making any commitment.
Is $500,000 enough to work with a financial advisor?
The right time to seek financial guidance depends more on your goals and the complexity of your situation than on a specific asset threshold. If you are an executive with stock options and deferred compensation, a business owner contemplating an exit, or a professional approaching retirement, a strategy-first conversation may be valuable regardless of your current portfolio size. Our approach begins with understanding your complete financial picture, not with a minimum asset requirement.
How does Minnesota's estate tax affect Stillwater residents?
Minnesota's estate tax exclusion is set at $4 million for 2026, according to Minnesota legislative proposals (SF 4469, as of June 2026). This is below the federal estate tax exemption, meaning some Minnesota estates may face state-level estate tax without any federal estate tax exposure. For Stillwater residents with significant assets or business interests, estate tax planning may involve gifting strategies, trust structures, and coordination with estate planning attorneys. Outcomes depend on individual circumstances, and tax rules may change.
What should I look for when choosing a wealth manager in Stillwater?
Consider whether the advisor operates as a fiduciary, how they are compensated, whether they provide a strategy-first approach or lead with products, and whether you will work directly with a named advisor or a team. Our guide on fiduciary advisors vs. brokers covers key questions to ask. We also recommend reviewing red flags when choosing a financial advisor before making your decision.
Start the Conversation
Schedule a Consultation from Stillwater
Our first conversation is at no cost and carries no obligation. We will listen to your situation, share how we approach wealth management, and help you determine whether our boutique model is the right fit. If you are ready for clarity about what comes next, we are ready to talk.
Not sure where you stand yet? Take our complimentary Financial Health Quiz to see how prepared you really are before scheduling a consultation.
8647 Eagle Point Blvd. Suite #1, Lake Elmo, MN 55042
Email: info@newhorizonsbfs.com