North Star’s focus on financial wellness for underserved communities is recognized in the ThinkAdvisor LUMINARIES
MINNEAPOLIS — July 11, 2023 — North Star Resource Group’s focus on positive impact on their communities was put on full display, as they were today announced as a finalist for the 2023 ThinkAdvisor Luminaries Award in the Community Impact category.
This award recognizes firms and individuals who lead community-focused efforts that model excellence and produce community-focused, demonstratable and replicable results. Candidates who are selected have instilled partnerships and innovative practices that serve charitable organizations and generate philanthropic results.
“We are incredibly honored and fortunate to have been named a finalist for this award,” said North Star CEO Ed Deutschlander.
North Star was included on ThinkAdvisor’s “Class of 2023” list of finalists as one of only five RIA/IAR firms included on the list.
North Star was nominated based on the shared sense of responsibility that all their advisors and team members have about changing the lives of the people in their communities. This desire for impact has resulted in numerous achievements for the firm, such as their opening of two offices that are made up entirely of people-of-color individuals who serve a diverse range of first-generation wealth builders.
Additionally, North Star’s dedicated Diversity, Equity, and Inclusion (DEI) committee has made progress hiring more diverse candidates to the advisor training program and meets regularly to bring awareness and action around diversity within their human resources policies, hiring practices and marketing materials.
Likewise, North Star has come alongside local nonprofits to extend financial wellness strategies beyond the doors of the firm. Since 2009, North Star has worked closely with BestPrep, a Minnesota-based nonprofit that provides financial literacy and career readiness programming for students 4-12. Advisors and team members participate in numerous initiatives BestPrep has instituted, with the most prominent being the eMentors program, in which advisors and team members from North Star meet with local high school students once a week for an entire semester to participate in a variety of career readiness exercises together.
Finally, North Star’s continued support of their charitable organization, the Scott Richards North Star Foundation, is notable. This organization pledges to donate 10 percent of North Star’s annual profits to charities in need and has generated $6.6 million in donations so far. These donations benefit individuals far and wide.
“Going forward, our goal will be to continue our strong commitment to serving our community while living out our mission of Changing Lives, Forever®,” Deutschlander added. “North Star has a responsibility to serve as a role model for community impact-focused firms all over.”
To learn more about the ThinkAdvisor Community Impact Awards or to view the entire Class of 2023, please visit https://event.thinkadvisor.com/luminaries-awards/class-2023.
ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions. The website also showcases advisors adapting and succeeding in new ways, and it translates the impact of industry regulation, dealmaking and technology into easily digestible, shareable content—so advisors have more time to spend advising clients and running their businesses. To learn more about ThinkAdvisor, visit https://www.thinkadvisor.com/.
About North Star Resource Group
North Star Resource Group is a Minneapolis-based financial services firm that provides both individuals and businesses with the resources to help create, preserve, and protect their wealth. North Star has more than 160 full-time advisors and over 165 employees. In a network of 41 offices in over 20 states, they have contributed to the financial security and well-being of over 140,000 individuals and small businesses**. To learn more about North Star Resource Group, visit www.northstarfinancial.com.
**Data as of December 2021
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