September 23, 2025
RIAs are one of the most dynamic and fast growing channels for investment firms to call on when fundraising. The challenge has always been: “what RIAs invest in outside managers and are not investment managers themselves?”
Through our dakota marketplace database of RIAs, we have aimed to solve that problem by curating and vetting each RIA by hand and only showing those RIAs that are true prospects for an investment firm. This saves both the investment sales team member time, but also saves the “other” RIAs that don’t allocate to other managers from getting unnecessary emails and phone calls.
Below are a few RIAs in Minneapolis that we thought you might like to know. For a more detailed list of RIAs in Minneapolis, click here to see for free.
1. U.S. Bancorp Asset Management, Inc.
AUM: $402.82B
U.S. Bancorp Asset Management, Inc. operates as a RIA, specializing in institutional investment services. The firm is headquartered at 800 Nicollet Mall, Minneapolis, MN, and serves the Minneapolis metro area. It provides fixed income and multi-asset strategies tailored to various clients, including corporations, nonprofits, healthcare organizations, public entities, and retirement plans.
U.S. Bancorp Asset Management manages an AUM of $402.82B. The firm emphasizes an internally managed investment platform, ensuring no reliance on external fund managers. Its offerings include liquidity management, money market funds, local government investment pools (LGIPs), and outsourced chief investment officer (OCIO) services, supported by in-house credit research and comprehensive compliance oversight.
AUM: $94.63B
Wealth Enhancement Group is an RIA specializing in Multi Family Office services. Situated at 505 North Highway 169 Suite 900, Plymouth, MN, the firm operates within the Minneapolis metro area. With assets under management totaling $94.63B, Wealth Enhancement Group strategically allocates investments across Equities, Fixed Income, Alternatives, and inflation-focused assets, favoring managers with a value and momentum tilt.
The company, with around 115 nationwide offices, recently completed its 11th acquisition in October 2022, expanding its reach to over 45,500 households. Wealth Enhancement Group's growth strategy includes acquisitions like Equius Partners in Novato, CA, and Infinity Wealth Alliance in Apple Valley, MN. While venturing into liquid alternatives and interval funds, the firm maintains a conservative approach by avoiding heavy exposure to private funds.
3. Woodbury Financial Services Inc.
AUM: $19.28B
The organization Woodbury Financial Services Inc. functions as a RIA specializing in Multi Family Office services. Situated at 7755 3rd Street North, Oakdale, MN, it operates within the Minneapolis metro area. As part of Osaic, one of the largest networks of independent wealth management firms in the U.S., Woodbury Financial provides its affiliated financial professionals with cutting-edge technologies, personalized service, and extensive operational support to enhance client service.
With an AUM of $19.28B, Woodbury Financial Services Inc. offers securities and investment advisory services through Osaic Wealth, Inc., a broker-dealer and registered investment adviser. Osaic Wealth, Inc. is distinctively owned, ensuring independence from other entities. The firm's platform underscores its commitment to providing comprehensive financial solutions through a network that prioritizes technological advancement and operational efficiency.
4. CliftonLarsonAllen Wealth Advisors
AUM: $12.33B
The organization CliftonLarsonAllen Wealth Advisors functions as a RIA specializing in Multi Family Office services. Situated at 220 South 6th Street Suite 300, Minneapolis, MN, the firm's investment approach under Graham Acheson primarily focuses on public equity with an emphasis on low-cost ETFs and active participation in alternative investments, favoring niche strategies over mainstream options. With an impressive AUM of $12.32B, CliftonLarsonAllen Wealth Advisors has established a robust platform highlighted by the recent appointment of Chris Dhanraj from Blackrock as the Chief Investment Officer. The firm's investment philosophy centers on identifying best-in-class assets within specific asset classes, complemented by a capital markets group dedicated to raising assets for unique private real estate and boutique yield opportunities. The metro area of operation for the organization is Minneapolis.
AUM: $9.50B
The organization Fiduciary Counselling Inc functions as a RIA specializing in Multi Family Office services. Situated at 30 East 7th Street, St. Paul, MN, the firm manages a substantial $9 billion in assets under management within the Minneapolis metro area. Fiduciary Counselling implements multi-asset model portfolios encompassing ETFs, mutual funds, and private funds across traditional and alternative investments. With a focus on customized investment consulting, Fiduciary Counselling Inc oversees an AUM of $9.5B. The firm's portfolio strategy includes a diverse range of investment vehicles to optimize client returns. Positioned as a national financial advisory firm, it tailors its services to meet the unique needs of its clientele, offering a comprehensive suite of investment options within traditional and alternative asset classes.
AUM: $8.06B
Orgel Wealth Management is an RIA specializing in Multi Family Office services. The firm is located at 2420 Rivers Edge Drive, Altoona, WI, approximately an hour east of Minneapolis. Founded by Mark Orgel in 2012, the firm boasts an AUM of $8B. Led by CIO Aaron Reynolds, the team focuses on active management in fixed income and long-only equity, including international and emerging markets. They have exposure to alternative investments such as private credit, private equity, and hedge funds, with a growing interest in exploring liquid alternatives.
The firm's investment approach emphasizes active management across various asset classes. Orgel Wealth Management's portfolio strategy includes a mix of fixed income and equity investments, complemented by exposure to alternative assets. With a strong research team supporting CIO Aaron Reynolds, the firm manages a significant AUM of $8.06B. Situated in Altoona, WI, within proximity to Minneapolis, Orgel Wealth Management is well-positioned to cater to a diverse range of clients seeking tailored investment solutions.
AUM: $7B
Standard Valuations Inc is an RIA specializing in Multi Family Office services. The firm is situated at 4801 Highway 61, Suite 203, White Bear Lake, MN, and operates within the Minneapolis metro area. Standard Valuations offers investment consulting, performance measurement, manager research and selection, portfolio monitoring, and investment policy development for Multi-employer, Public, Non-profit, and Corporate Pension, Health & Welfare, Foundation, and Endowment funds.
The firm manages an AUM of $7B and provides personalized client service with expertise in funds of varying sizes. Standard Valuations emphasizes a comprehensive manager research process that includes quantitative and qualitative reviews conducted by their consultants. Their commitment to accurate and relevant reporting makes them an industry-leading Investment Consulting and Performance Measurement firm.
AUM: $6.65B
The organization known as Thrivent Advisor Network operates as a RIA specializing in Multi Family Office services. Situated at 600 Portland Avenue South Suite 100, Minneapolis, MN, Thrivent Advisor Network caters to independent financial advisors seeking alignment with their values within a supportive framework. As of early 2025, Thrivent Advisor Network manages approximately $6.6 billion in assets across 10,821 clients, facilitated by a network of 139 advisors. Thrivent Advisor Network offers an extensive range of services tailored for independent advisors, including integrated technology solutions with custodian options like Fidelity and Schwab, business management tools, and client portals via the Advisor Gateway platform. This comprehensive support system enables advisors to concentrate on client relationships and business expansion without the operational burdens of managing their own RIA. The organization's presence in the Minneapolis metro area reinforces its commitment to providing specialized services to its clientele.
AUM: $6.60B
Northrock Partners is an RIA specializing in Multi Family Office services. Situated at 225 South Sixth Street, Suite 1400, Minneapolis, MN, the firm operates within the Minneapolis metro area. Established by former Ameriprise Advisors, Northrock Partners manages $6.6B in assets under management (AUM).
The firm, led by Director of Investments Lori O'Connor and CIO Brent Field, employs a strategic investment approach. Northrock Partners maintains a passive stance in domestic equities, active involvement in international markets, and an active role in fixed income. Additionally, they incorporate a small degree of liquid alternatives to enhance client portfolios. Notably, the firm has expanded its clientele to include entertainment and athlete segments, facilitated by the involvement of former NBA All-Star Tony Parker.
AUM: $6.56B
Gradient Investments, Llc is an RIA specializing in Multi Family Office services. The firm is situated at 4105 Lexington Avenue North Suite 250, Arden Hills, MN, operating within the Minneapolis metro area. As an independent, fee-based SEC-registered investment advisor, Gradient Investments provides professional money management services to various clients, including individuals, pension plans, foundations, endowments, and corporations.
Gradient Investments manages an AUM of $6.56B. The firm's investment strategies focus on exchange-traded funds (ETFs) and individual equities within separately managed accounts. It offers diverse portfolio models, including the "ETF Endowment Series," "Absolute Yield Portfolio," and "Gradient Socially Responsible Portfolio," incorporating alternative assets to enhance diversification and returns. Additionally, Gradient Investments provides tailored investment solutions through portfolios like the Fixed Income Series and Portfolio Tilt Series, designed to meet different investment goals and risk tolerances.
To see a full list of RIAs in Minneapolis or other metros, book a demo of Dakota Marketplace.
Morgan Holycross is a Marketing Manager at Dakota.
