Detroit Lakes, MN Financial Advisors and Resources



Financial Advisor Firms in Detroit Lakes, MN


MANN FINANCIAL GROUP

Website

(218) 844-9109

613 Hwy 10 E

Detroit Lakes, MN 56501

SEC#: 801-114944
Years in Business: 2 years

EDUCATOR'S FINANCIAL SERVICES, INC.

Website

(701) 361-2188

714 Lake Ave
105
Detroit Lakes, MN 56501

SEC#: 801-62857
Years in Business: 17 years

COLLIERS SECURITIES LLC

Website

(218) 844-3825

916 Washington Avenue
Suite 6
Detroit Lakes, MN 56501

SEC#: 801-80233
Years in Business: 7 years

COLLIERS SECURITIES LLC

Website

(218) 844-3825

916 Washington Avenue
Suite 6
Detroit Lakes, MN 56501

SEC#: 801-80233
Years in Business: 7 years


How Retirement-Friendly is Detroit Lakes, MN?

  • Population: 9,197
  • % of Population 62 Years and Over: 25.9%
  • Average Home Value: $184,800
  • Average Monthly Housing Cost: $856
  • Average Household Income: $74,985
  • Minnesota Total Tax Burden: 9.99% (6th Highest in U.S.)
  • Minnesota Property Tax: 2.86% (23rd Highest in U.S.)
  • Minnesota Individual Income Tax: 3.68% (5th Highest in U.S.)
  • Minnesota Sales and Excise Tax: 3.45% (20th Highest in U.S.)


Detroit Lakes, MN Financial Advisor FAQs

Ideally, your financial advisor should be a certified fiduciary. There are many advisors that may meet the qualifications of being an accredited investor under government regulations but will still spoil for themselves at the expense of you because they have other agendas outside of what you could be looking for in the long-term protection of yourself and your family.
The average financial planner charges anywhere from $150-$300 per hour. For the more basic financial planning needs, or when you are starting out in life or when your needs are less complex, this fee is satisfactory.
Financial advisors should be able to answer questions about fees and commissions, risk tolerance and diversification (both needed and non-essential), asset allocation, and general retirement planning.
Financial advisors get paid by charging commissions. This is the number one source of income for their business.