Cherry Tree Wealth Management, LLC (Minnetonka)

Name: Cherry Tree Wealth Management, LLC
Address: 301 Carlson Parkway, Minnetonka, MN, 55305
Telephone: 952-893-9012

Cherry Tree Wealth Management, LLC is a large advisory firm based in Minnetonka. It manages $343.35 million of regulatory assets for 892 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of Arizona, California, Florida, and 3 other states.

Cherry Tree Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Cherry Tree Wealth Management: assets under management

The assets under management (AUM) of Cherry Tree Wealth Management, LLC is $343.35 million. The firm's AUM has grown by 0% since the beginning of its operation, and $1.97 million of the total AUM is attributable to clients outside of the United States.

The firm manages $313.22 million in discretionary accounts and $30.13 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $355.53 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.74 million.

Cherry Tree Wealth Management has custody of $57.87 million in cash and securities for 81 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 59% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 27% of the firm’s portfolio. Investments in government bonds form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cherry Tree Wealth Management, LLC for their services and products based on a percentage of assets under management and hourly charges. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Anton Joseph Christianson serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Anton Joseph Christianson is high net worth individuals with 118 clients and $263.28 million of assets under management. Among the 9 most similar advisory firms, Cherry Tree Wealth Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $343.35 million for 316 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Cherry Tree Wealth Management doesn't advise any private funds.

Careers at Cherry Tree Wealth Management, LLC

The company employs 11 people that are either part- or full-time employees. 73 percent of the employees work as investment advisers or researchers. 8 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Anton Joseph Christianson has been acting as President since 1 Jul 2009. Keith Norman Tufte joined the executive team most recently as the Chief Investment Officer And President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Kevin James O'connor	Vice chairman	1 Jul 2009	Other	4447466
Jane Marie Bortnem	Chief financial officer, treasurer, secretary & chief compliance officer	1 Jul 2009	Other	4451428
Anton Joseph Christianson	Chairman	1 Jul 2009	Other	1305752
Gordon Fairchild Stofer	Non managing member	1 Jul 2009	Other	1514353
Llc Adam Smith Companies	Managing member	1 Jul 2009	75% - 100%	41-1839191
Keith Norman Tufte	Chief investment officer and president	1 Aug 2009	Other	1170559

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Anton Joseph Christianson	Chairman and member	1 Mar 1997	75% - 100%	1305752

Based in Minnetonka

The principal office where Cherry Tree Wealth Management, LLC performs its advisory services is located at 301 Carlson Parkway, Minnetonka, MN 55305, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 952-893-9012 or by fax 952-893-9036. The normal business hours are 8:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at cherrytree.com.