The median advisory fee in Lake Elmo, MN is 2.00% of assets under management. This is 60% above the national median. Fees vary based on portfolio size, services provided, and the advisor's fee structure.
There are 72 fee-only financial advisors in Lake Elmo, MN, representing 84.7% of all advisors in the area. Fee-only advisors do not earn commissions from selling financial products, which can reduce potential conflicts of interest.
The most common professional designation among Lake Elmo advisors is the CFP (Certified Financial Planner), held by 20 advisors. Other important credentials include the CFA (Chartered Financial Analyst) and CPA (Certified Public Accountant). These certifications require rigorous education, examination, and ongoing continuing education.