Top Financial Advisors in Fargo, ND

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Prairiewood Wealth Management, founded in 2009, leads off our list of the top financial advisors in Fargo. Prairiewood provides comprehensive wealth management that includes financial planning, tax planning and investment management. The firm helps clients with retirement income planning, Social Security strategies, employee benefit selection, college funding, charitable giving and large purchases, as well as tax-efficient portfolio construction and ongoing investment oversight. In certain cases, it also offers tax return preparation and payroll support for individuals and businesses.

Prairiewood works primarily with individuals and families who have between $1 million and $50 million in net worth, or those earning more than $300,000 annually and building toward that level of wealth. While there is no stated account minimum, the firm may apply a minimum annual fee. It operates strictly as a fee-only advisory firm, with compensation paid only by clients and not from commissions or third parties.

Prairiewood has a small team that holds several financial certifications, including the Certified Financial Planner™ (CFP®), Chartered Financial Analyst (CFA) and certified public accountant (CPA) designations.

The firm’s investment philosophy is rooted in long-term, value-based investing with a focus on diversification and tax efficiency. Portfolios typically include a mix of individual stocks, exchange-traded funds (ETFs) and mutual funds, with an emphasis on low-cost index options. Prairiewood often applies a fundamental, quantitative approach to selecting equities, favoring companies with strong returns on capital and attractive valuations. The goal is to balance risk and return while aligning investments with each client’s goals.

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Light Financial Services offers a range of financial services to a client base made up of individuals and high-net-worth individuals. The firm provides financial planning, individual portfolio management and consulting services to its approximately 600 clients on either a discretionary or non-discretionary basis.

As a fee-only firm, it only receives fees paid by clients; there are no commissions paid by third-party entities. Fees charged to clients are based either on a percentage of the assets under management or a set amount. Light Financial doesn't maintain a minimum account size requirement.

Paul Light, a Certified Financial Planner™ (CFP®), founded the firm in 2003 after a number of years employed in the insurance and financial planning industries. From 1995 to 2001 he worked for Educators Financial Services as a financial advisor, and before that he worked with Prudential Insurance Co. Light is assisted in his work by an investment advisor representative.

Light Financial provides financial planning by analyzing current information to project future cash flow, asset values, and withdrawal needs. The resulting plan may address areas such as taxes, investments, insurance coverage, retirement strategies, estate considerations, and planning for death or disability.

Instead of focusing on securities selection, the firm attempts to find the right mix of securities, fixed income and cash for each client based on their investment goals and risk tolerance. When deciding on a mutual fund or ETF to put a client's money into, Light Financial considers the experience and performance of the fund manager, whether a fund's holdings overlap with a client's existing securities and whether the fund is following its stated objectives. The firm emphasizes diversification and long-term holding periods, while periodically reviewing allocations to maintain alignment with client circumstances.

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Clients of Wealth Forward are predominantly individuals with less than a high net worth, though the firm also works with high-net-worth individuals and retirement plans. Services provided include financial planning, retirement plan consulting and investment management. There is no minimum account balance requirement needed to become a client, but the firm may charge a $500 minimum annual fee and a $2,000 minimum annual fee for hourly financial planning services. 

Wealth Forward is a fee-based firm, meaning it employs advisors who earn commissions when they sell insurance products or trade securities. This poses a potential conflict of interest, though the firm is a fiduciary and legally obligated to act in the best interests of clients.

Wealth Forward has been providing investment advisory services since 2011. Ryan Berg is the firm's sole owner, and he holds three certifications: Certified Financial Planner™ (CFP®), certified public accountant (CPA) and personal financial specialist (PFS). The firm was previously known as Ranstrom Berg Wealth Management, but changed its name following Berg's acquisition of the entire business in 2017.

Wealth Forward's services include comprehensive and in-depth financial planning, retirement plan consulting and discretionary investment management. The firm also manages a small amount of its assets on a non-discretionary basis. 

Advisors at Wealth Forward monitor and rebalance client portfolios on at least a quarterly basis. While the types of securities used to implement a client's portfolio may vary, they typically include stocks, bonds, mutual funds, exchange-traded funds (ETFs), private placements, convertible securities and more.

Investment strategies may also entail the use of third-party investment managers. The firm may also invest client assets in a variety of model portfolios in an effort to drive growth.

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Fjell Capital, a fee-based practice, is the fourth and final firm on our list of the top advisors in Fargo. The firm primarily serves individuals and high-net-worth individuals, but also works with businesses. Fjell Capital does not have a minimum account size requirement.

As a fee-based firm, some of its advisors can earn third-party compensation in their separate capacities as insurance agents. This is a conflict of interest, because they have a financial incentive to recommend certain insurance products and services over others. However, Fjell has a fiduciary duty to act in your best interests.

Fjell was established in 2020 as a limited liability company and eventually registered as an investment advisor with the SEC in 2023. Thomas Stadum, who founded the firm and remains its CEO, is the principal owner of the business. 

The firm offers a comprehensive suite of services tailored to enhance financial stability and growth. These include cash flow planning, lifestyle maintenance, budgeting, as well as investment planning and portfolio optimization. Additionally, they provide risk management, debt management, and retirement cash flow planning.

The also firm offers guidance on business succession and strategies for tax-efficient investing. Asset protection, legacy and estate planning, handling large real estate transactions, managing stock options and tax planning strategies are also integral parts of their services.

Fjell Capital employs a disciplined investment strategy that emphasizes a passive, long-term buy-and-hold approach. The firm focuses on strategic asset allocation, periodic rebalancing, tax loss harvesting and international diversification to optimize client portfolios.

Investment decisions are tailored based on each client's unique investment objectives, risk tolerance, tax status, financial goals, time horizons, annual income and asset levels. The firm typically invests in equity securities, ETFs, mutual funds, various fixed-income securities and cash equivalents.