Top Financial Advisors in Fargo, ND

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Eide Bailly Advisors leads off our list of the top-rated financial advisors in Fargo. The firm, which is also the top-rated firm in the state, works primarily with individual clients, both with and without a high net worth. Institutional clients of Eide Bailly include pensions, profit-sharing plans, charities and other businesses. Certain accounts and portfolios at the firm have a minimum investment requirement, but the exact minimum may vary.

Eide Bailly is a fee-based firm. It has advisors on staff who are also licensed insurance agents, and these advisors can earn commissions from selling financial products to clients. This is a potential conflict of interest. However, the firm is still a fiduciary, so it's legally obligated to act in the best interests of clients at all times.

Eide Bailly Advisors Background

Eide Bailly Advisors was founded in 2005, the same year that it registered with the SEC an investment advisor. The firm has the biggest advisor team of the firms on our North Dakota list. The firm is owned by Eide Bailly Financial Services, LLC, which is owned and operated by Eide Bailly, LLP. 

Jeremy Hauk is currently the firm's chief executive officer and managing partner. He is a certified public accountant (CFP), like many of the firm's other advisors, and has been with the firm since 1989. In addition to its headquarters in Fargo, Eide Baily has offices in dozens of states across the country. 

Eide Bailly provides its clients with financial planning and asset management services, as well as model investment strategies and financial consulting services.

Eide Bailly Advisors Investment Strategy

Eide Bailly’s investment philosophy focuses on strategic asset allocation to balance risk and reward. This approach diversifies investments across four asset classes: equities, fixed income, alternatives, and cash equivalents. Each asset class carries different risks and returns, and Eide Bailly allocates assets based on clients' goals, risk tolerance, and time horizon, with periodic rebalancing to stay aligned with long-term objectives.

Using Modern Portfolio Theory (MPT), Eide Bailly maximizes returns relative to risk, utilizing key metrics like return, standard deviation and Sharpe Ratio. The firm also applies quantitative methods, such as regression and holdings-based analysis, to evaluate performance. By combining long-term and short-term strategies, Eide Bailly tailors investment plans that adjust to clients’ evolving financial goals.

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Clients of Wealth Forward are predominantly individuals with less than a high net worth, though it 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 does 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 Background

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 Clanner™ (CFP®), certified public accountant (CPA) and personal financial specialist (PFS). Berg has worked in the investment business for over 20 years.

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. 

Wealth Forward Investment Strategy

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, ranks No. 3 on our list of the top advisory firms in Fargo. The firm serves individuals, high-net-worth individuals and businesses but 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 Capital Background

 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. Jacob Radke and Daniel Schuster are minority shareholders, each owning less than 25% 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, and investments. Additionally, they provide risk management, debt management, and retirement cash flow planning.

For entrepreneurs, the firm offers guidance on selling a business and strategies for tax-efficient investing. Asset protection, legacy and estate planning, handling large real estate transactions, liquidating stock options, and tax planning strategies are also integral parts of their services.

Fjell Capital Investment Strategy

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, various fixed-income securities and cash equivalents.

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Light Financial Services offers a range of financial services to individuals, high-net-worth individuals, charitable organizations and some businesses. The firm provides financial planning, individual portfolio management and consulting services to its approximately 600 clients on either a discretionary or non-discretionary basis. Light Financial also maintains a robust practice with employees of public school districts and advises employees on 403(b) issues.

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.

Light Financial Services Background

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 Services Investment Strategy

Rather than focusing on securities selection, the firm attempts to identify the right mix of securities, fixed income and cash suitable to the client's 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 aims to find undervalued assets and hold them for at least a year.

In terms of financial planning, Light Financial evaluates known variables to predict a client's future cash flow, asset values and withdrawal plans. Upon completion the firm's personalized financial plan covers tax issues, investments, insurance, retirement, death and disability and estate planning.