Wealth Management in Edina, MN | Hyland Lake Partners

Frequently Asked Questions

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Why hire a CERTIFIED FINANCIAL PLANNER® Professional?

Adherence to the CFP Board's Code of Ethics and Standards of Conduct, is required of a CFP® Professional. This includes continuing education and avoiding conflitcs of interest.
A CFP® Professional takes your entire financial picture into account and tailors a plan specifically for your goals, whether that’s starting a family, saving for college, or retirement.
Rigourous coursework in areas like retirement, taxes, estate planning, insurance, and investments is required to become a CFP® Professional.
CFP® Professionals have a fiduciary duty to act in your best interest, not theirs.

How are you compensated?

Hyland Lake Partners operates as an Independent, Fee-Only, Registered Investment Advisor.

We are compensated solely through our fees for financial planning and investment management services.

We do not engage in revenue sharing with third parties such as investment firms and insurance agencies.

What is the difference between Fee-Only and Fee-Based financial planning?

A Fee-Only financial planner’s only source of compensation is from their clients. If a need for insurance or any commission-based product is identified, you are referred to a qualified independent agency for the service and placement of coverage.

Fee-Based advisors may also receive commissions from selling financial products.

What is included in a financial plan?

A financial plan is a personalized roadmap to help you reach your goals, which may include:

Establishing an estate plan
Charitable and family gifting
Ensuring you have adequate insurance coverage
Educating against fraud and cybercrime
Managing your assets to hedge against inflation
Creating a customized and diversified retirement investment portfolio
Maximizing your employer benefits
Managing concentration risk in your employer stock
Creating a plan for your employer stock awards and executive compensation
Saving for a debt-free college education
Planning for a comfortable retirement
Reducing taxes over your lifetime

Who do you typically work with?

We work with clients from Millennials to Seniors. Our clients desire comprehensive financial planning advice, and seek a partner to support them in decisions related to their current and future life stages.

Our clients are pleasant and enjoyable. They choose to delegate so they can enjoy and focus on what matters most to them.

We do not have a minimum retirement asset requirement; however, we target a minimum annual fee of $5,000, derived from investment management and financial planning services.

A customized personal financial planning & wealth management experience

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