Comprehensive Financial Planning Services in Minnesota

“A Smart Approach for Investors with $250,000* or More to Invest”

If you live in Minnesota and have $250,000 or more of investable assets, here’s a key question to consider:

Do you have a financial plan to sustain you in retirement for 30+ years?

While many equate financial planning to an array of numbers, it’s much more than that. It is your financial guide, your roadmap for a comfortable lifestyle and a confident future for the rest of your days. A sophisticated financial plan will cover planned and unplanned life events.

In this Quick Guide, we’ll address these six important components of a comprehensive financial planning process:

• Chapter 1: What is Holistic Financial Planning?
• Chapter 2: Investment Strategies for Today and Beyond
• Chapter 3: Retirement Planning with Purpose
• Chapter 4: Strategic Business & Tax Planning
• Chapter 5: Estate Planning and Legacy Design
• Chapter 6: Family Office Services for Affluent Families

Comprehensive financial planning in Minnesota should do more than focus on saving and investing. It should reflect your values, support your family, and align with the lifestyle you want to build together as spouses.

Chapter 1: What is Holistic Financial Planning?

What is holistic financial planning, and why should it matter to you?

Holistic financial planning is a comprehensive approach that looks at your entire financial life, not just your sources of retirement income. It should include retirement planning, tax strategy, insurance, estate planning, income needs, legacy, and other personal goals.

Rather than focusing on one piece of the puzzle, holistic planning connects all the moving parts to create a coordinated strategy that supports your lifestyle and financial security now and in the future. Plus, it’s designed to adapt as your circumstances change, helping you make more informed decisions based on facts and not emotion.

Why it matters:

Life isn’t a straight line. It is a series of ups and downs. You may change jobs, sell businesses, support family members, or move across the country. A holistic plan is built to adapt and support every stage of your financial life.

How can iWealth Help?

We specialize in helping successful individuals build customized, goals-based financial plans that grow and evolve with Minnesota families and their needs. From tax efficiency to charitable giving, we consider all aspects of your financial life, not just investing your retirement accounts. Explore our approach to holistic financial planning here: Holistic Financial Planning.

Chapter 2: Investment Strategy for Today and Beyond

How can an investment strategy support your life’s requirements and goals, not just your retirement years?

An investment strategy should be about more than accumulating assets for retirement. It should support pursuing your life’s goals today and in the future. That means aligning your portfolio with your goals and values and determining the timing of significant life events like buying a second home, funding college educations, or transitioning from being a business owner to a retiree.

A thoughtful investment strategy should also consider your capacity to take investment risk, tax strategy, income needs, and personal priorities, which is more than age-based, with a targeted retirement date.

Why it matters:

It matters because your financial life isn’t just about retirement; it’s about the series of choices, responsibilities, and opportunities that impact you daily.

A one-size-fits-all approach can miss essential considerations like timing cash flow, managing risk, planning a major purchase, or a life transition. Your investment strategy should reflect your goals, not just your age.

Working with a Minnesota financial advisor who truly understands you and your family is essential to planning.

How iWealth Can Help:

Our investment process is grounded in frequent conversations and the ongoing evolution of your financial plan. We work to understand your family’s priorities, income needs, risk concerns, and tax implications. Then we create a diversified strategy designed to support the pursuit of your long-term goals.

At iWealth, we recognize that your most significant financial risk is not the stock market’s volatility, which has a long history of ups and downs, but a failure to pursue your long-term financial goals.

Watch our insights about investment strategies on iWealthTV or read more here: Investment Strategy.

Chapter 3: Retirement Planning with Purpose

What is a purposeful retirement, and how do you plan for one?

A purposeful retirement plan should go beyond funding a particular lifestyle; it should include building a meaningful future once the day-to-day demands of your working years are behind you. It involves thinking through how you want to spend your time, the relationships you want to nurture, the causes you wish to support, and the experiences that bring you joy.

Too often, people enter retirement with short-term travel plans but no clear direction for the rest of their lives. This can lead to boredom, restlessness, or even regret. A well-structured, generational retirement plan in Minnesota should account for all of life’s expected and unexpected events, especially during early retirement years that could last decades.

A comprehensive retirement plan should address more than just sources and amounts of income once you retire. Sure, this is important, but it should also combine financial clarity with your vision, so you’re prepared and excited for what’s next in this new chapter of your life.

Why it matters:

Without a clear plan, it’s easy to make emotion-driven decisions that undermine the pursuit of long-term needs and goals. A meaningful retirement should be based on realistic goals and intent.

Planned expenses include housing, travel, hobbies, and routine healthcare. These are easier to anticipate and budget for. But unplanned expenses, such as long-term care, rising medical costs, home repairs, or helping adult children, can quickly disrupt even the best-laid plans.

That’s why your retirement strategy needs to include financial flexibility, contingency funds, and innovative risk management.

How iWealth Can Help:

iWealth offers resources to help you think beyond the numbers. Brad Connors, founder of iWealth, wrote the popular financial book, “Fish Don’t Clap” to help people prepare for a more fulfilling retirement. We also offer webinars and other educational content to help you build clarity around your purpose, lifestyle, and financial security late in life.

Chapter 4: Strategic Business & Tax Planning

How can Minnesota business owners create an efficient tax and succession plan?

If you are a business owner in Minnesota, you can plan smarter for taxes and succession by taking a proactive, long-term approach. This includes structuring the business for tax efficiency and regular reviews of your strategy for accumulating retirement assets while exploring exit opportunities that benefit owners, family members, and employees.

Succession planning is a core strategy, whether transitioning the ownership to a family member, key employee, or third party. Without a strategic business, retirement, and tax plan, you risk paying more than necessary or receiving less than you should to pursue your financial goals.

A well-crafted business strategy and tax plan should align with your financial goals, preserving the business’s value and providing a smooth transition when you step away into partial or complete retirement.

Why it matters:

Your biggest asset may be your family business. Strategic planning around your business is key to protecting its value and your long-term personal goals. It also helps reduce your overall tax burden.

How iWealth Can Help:

With over 80 years of combined experience, iWealth understands the nuances of transitioning from a business owner to a full-time retiree. That’s how we help entrepreneurs build tax-aware strategies, succession plans, and retirement transition plans that work for themselves, their families, and their companies. Learn more here about our Strategic Business Planning services.

Chapter 5: Estate Planning and Legacy Design

What happens to your wealth after you’re gone?

Estate planning isn’t just for the ultra-wealthy. It’s about protecting your assets, honoring your wishes, and helping the people you care about avoid unnecessary financial or legal complications.

What happens to your wealth after the surviving spouse’s passing depends on the plans you put in place today. Without a clear legal and financial foundation, your assets may face delays in probate, the payment of unnecessary taxes, or distribution outcomes that don’t reflect your wishes.

Family members could be left with a confusing solution, legal hurdles, unintended consequences, or financial burdens. However, with a thoughtful plan in place, such as a will, trust, or other legal structures, you can help protect your family and legacy, while minimizing taxes and ensuring your wealth goes where you want it to go.

Estate planning gives you control over what happens next and provides clarity for the people you care about most.

Why it matters:

Without a coordinated plan, the transfer of your estate could be subject to delays, unnecessary taxes, and legal consequences. That’s a heavy burden to leave behind for your heirs.

How iWealth Can Help:

At iWealth, we can act as your financial quarterback, working closely with attorneys, CPAs, and other professionals to strive to ensure your estate plan reflects your goals and values.

We help you decide about the tax-efficient transfer of your wealth, while supporting charitable causes, or setting up a trust for your grandchildren. Here’s more information on Generational Wealth Planning and Tax & Estate Planning.

Chapter 6: Family Office Services for Affluent Families

How can high-net-worth families simplify their complex financial lives?

Managing wealth often becomes increasingly complex for high-net-worth families with assets of $10 million or more. Multiple investment accounts, real estate holdings, business interests, philanthropic goals, and estate considerations can quickly become overwhelming. Coordinating all of it, while staying ahead of tax law changes, managing risk, and maintaining family harmony, requires organization and expertise beyond traditional financial planning.

One way to simplify this process is to partner with a Minnesota wealth management team that offers family office services.

The iWealth Family Office is a comprehensive wealth management solution designed to serve the complex financial needs of high-net-worth families, typically those with $10 million or more in investable assets. Rather than managing individual financial pieces separately, like your investments, taxes, estate planning, and charitable giving, the right family office rolls everything into one coordinated strategy.

Our multi-family service is a central hub, often with a dedicated team or advisor overseeing all aspects of your family’s finances. Services may include investment management, tax planning, legal coordination, risk management, generational wealth planning, and even concierge services.

The goal of a family office is to simplify decision-making, preserve wealth across generations, and give you more time to focus on your life, not just your financial affairs.

Why it matters:

If your wealth is complex, your financial strategy will be, too, but that doesn’t mean it has to be stressful or time-consuming. That is our job. The iWealth Family Office makes it simpler for the following five reasons:

• Coordination Across Advisors: A family office brings your CPA, estate attorney, investment advisor, and insurance professionals together, so nothing gets overlooked and everyone is focused on pursuing your goals. Plus, you avoid the twin risks of conflicting advice and duplicate expenses.
• Tax Efficiency: A family office helps you proactively manage tax exposure across investments, business income, gifting, and estate planning.
• Legacy and Estate Planning: Whether you want to pass wealth to the next generation or support causes you care about, a family office helps structure your legacy thoughtfully and efficiently.
• Time Savings: Managing wealth takes time. A family office streamlines complex financial decisions and day-to-day management, freeing you to focus on family, career, retirement activities, or philanthropy.
• Customized Solutions: From private investments to generational wealth strategies, a family office delivers personalized advice far beyond the one-size-fits-all service many financial planners provide.

How iWealth Can Help:

iWealth offers multi-generational wealth planning and family office-style services to affluent families who want more personalized support. We coordinate with a vetted team of professionals and provide concierge-style solutions tailored to your needs, so you can spend less time planning and managing and more time living.

Your Next Step

As you’ve just read, comprehensive financial planning in Minnesota isn’t just about investing wisely. It’s about building the best lives for you, your spouse, and your children, and supporting the charities you believe in. The higher the quality of the planning, the more purpose your remaining years will have.

At iWealth, we specialize in helping Minnesotans with $250K or more in investable assets take control of their financial future, with clarity, confidence, and purpose.

Ready to experience a comprehensive planning process for you and your family? Schedule an introductory call with our team or explore more insights about our services on iWealthTV.