Cherry Tree Wealth Management, LLC

CRD#151406
Investment Advisor Firm

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Learn more about Cherry Tree Wealth Management, LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Cherry Tree Wealth Management, LLC is located at 301 Carlson Parkway, Hopkins, MN. The firm employs 8 financial advisors to manage client portfolios and provide financial guidance. Cherry Tree Wealth Management, LLC is not a registered broker-dealer.

    Cherry Tree Wealth Management, LLC oversees $553.9 million in assets under management across 1,029 accounts, of which 1,021 are discretionary and 8 are non-discretionary. The services offered include financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, and selection of other advisers. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, and state or municipal government entities, with retail investors being the largest client type by accounts. The fee structure at Cherry Tree Wealth Management, LLC is asset-based. The firm has 20 high net worth clients and maintains affiliations with a broker-dealer or securities dealer.

    Cherry Tree Wealth Management, LLC is registered in the states of Arizona, California, Florida, Minnesota, New York, and Texas.

    Assets Under Management

    $553.9 million

    Number of Advisors

    8

    Disclosures

    No

    Office Location

    301 Carlson Parkway
    Hopkins, MN 55305

    Cherry Tree Wealth Management, LLC by the Numbers

    Total Assets Under Management

    $553.9 million

    National Average: $8.6 billion
    Total Number of Employees

    11

    National Average: 64
    Total Number of Accounts

    1,029

    National Average: 375,227
    Average Account Size

    $538.3 thousand

    National Average: $23.0 thousand
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    Products and Services

    Cherry Tree Wealth Management, LLC offers a number of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, and selection of other advisers. Notably, Cherry Tree Wealth Management, LLC did not provide financial planning services to any of its clients in the prior fiscal year. The Firm does sell products or offer services different than investment advice to its clients.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    A financial advisor's fees typically vary depending on the type of services provided. Fees charged by Cherry Tree Wealth Management, LLC typically consist of the following fee structure: asset-based.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 32% of firms that offer this fee type

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    The firm manages money for a number of different clients. The company caters to retail investors, high net worth investors, pension plans, charitable organizations, and state or municipal government entities. Out of its 5 clients, Cherry Tree Wealth Management, LLC's biggest client group by number of accounts is retail investors, but it also serves 20 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 in AUM or a net worth of more than $1,50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 5.9%
    • Other Individuals - 82.01%
    • Corporations - 2.65%
    • Charitable Organizations - 9.44%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Cherry Tree Wealth Management, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Cherry Tree Wealth Management, LLC

    Eric Annett
    Hopkins, MN
    Conner Kolodge
    Hopkins, MN
    Janet Pollish
    Hopkins, MN
    Justin Frys
    Hopkins, MN
    Erin Buchen
    Hopkins, MN
    Chelsea Tufte
    Hopkins, MN
    Jared Konen
    Hopkins, MN
    Kevin O'Connor
    Hopkins, MN
    John O'Connor
    Hopkins, MN

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