Frequently asked questions
General questions
An independent individual or firm sells a range of products and services. In this sense, North Star and our financial professionals are considered independent.
North Star and its affiliates are privately owned and are independent of any corporate obligations for product selection. To see a list of the carriers we provide, visit our insurance and investments pages:
The fiduciary standard mandates that a firm or financial advisor (the fiduciary) puts the client’s (the principal’s) best interests ahead of their own, regardless of all other circumstances.
In certain financial planning and investment advisory relationships, North Star financial advisors act in a fiduciary capacity for our clients.
Financial services
As your financial picture complicates with dependents, student loans, and increased income, you may need help sorting through your options.
Whether you seek a one-time opinion or ongoing guidance and a long-term strategy, working with an experienced financial professional with your interests in mind may be what you need to work toward the progress you’re hoping for.
No matter what your income, establishing a strategy for financial wellness is important for your future. Our financial professionals work with high-income individuals and those who are just beginning their careers and are paying off debt.
Whatever your financial situation, you can use our matching tool to be paired with a financial professional who specializes in working with individuals with your specific financial needs and opportunities.
The cost of hiring a financial professional can vary based on several factors.
As you review a financial professional’s profile and start initial conversations with them, it is best to discuss your expectations for the service relationship and ask about their fee and commission model to make sure you are both comfortable with the payment plan you establish together.
We encourage all our clients to ask questions about every strategy and product their financial professional recommends, including the question, “How does my decision affect how you’re paid?”
You may also review the complaint record of any financial professional you’re considering working with through FINRA Broker Check.
Choosing a financial professional to work with you and your family is a very personal decision. You want to work with someone with experience and a good reputation, but you may also want to find someone who shares or understands your values.
When interviewing potential financial professionals, have a few key questions in mind to ask. Some topics you may want to cover include:
- Who they work for and how this relationship may affect you
- How they are compensated (commissions, per transaction or a fee, flat or based on assets managed)
- Whether they understand the unique challenges of your financial world
We have created a financial professional matching tool to help pair you with an individual who specializes in meeting your specific needs based off life stage, income, occupation, and financial concern, but we also invite you to read the profiles and talk to a few North Star associates to find a fit!
Many people meet with a financial professional for an annual or quarterly check-in. Depending on the financial services relationship you have, there may be regulations on how often you should meet to discuss your financial strategy.
However, we know that financial concerns don’t occur based on the date in the calendar. When you work with a North Star advisor or associate, you gain the personal care of a financial professional dedicated to your success, but you also gain confidence with the support of one of the largest and oldest wealth management firms in the Twin Cities.
With this in mind, we recommend reaching out to your financial professional for guidance for any of these events:
- Marriage
- The birth or adoption of a child
- Cash flow considerations for a large purchase
- Promotion or job transition
- Loss of work
- College preparation
- Disability
- Divorce
- Receiving an inheritance
- Retirement
- Loss of a family member
- Long-term care
If any other personal or nationwide event that leaves you with financial concerns—we are here for you in good times and in bad.
Many of our financial professionals offer free, no-obligation consultations. You can use our financial professional matching tool to find an associate who may be a good fit for you to meet with, or you can call our main office at 612.617.6000 to talk to someone who can connect you to a financial professional who is ready to help.
Careers at North Star
Whether you’re just starting a career in finance or you are looking to transfer an existing independent practice, we believe in providing opportunities for financial professionals to reach their unlimited potential.
North Star’s corporate and support team members are an integral part of helping our clients pursue their financial goals. Find a position where you can develop your skills, reach for your potential, and build a lasting community at one of our 41 office locations.