Lfa
Updated today
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Total assets under management
$351,499,542
This total excludes 19 entity clients. Entities are clients such as corporations, partnerships, or trusts.
Total clients
499
16% high-net worth
Total advisors
7
of 7 employees
Firm size
Team
4-10 advisors or $500M+ in AUM
Average clients per advisor
71
Average account size
$704,408
About
LFA serves individuals (including non‑high‑net‑worth and high‑net‑worth clients), pension and profit‑sharing plans, trusts, estates, charitable organizations, and corporations. The seven‑advisor firm offers discretionary and non‑discretionary portfolio management, asset allocation and model‑portfolio management, financial planning, and pension consulting and selection/monitoring services, managing roughly $351 million in client assets for about 499 clients.
The firm implements a structured approach built around five model portfolios (from Aggressive Growth to Capital Preservation), allocating primarily to mutual funds, equities and fixed income while tailoring allocations to each client’s objectives and restrictions. LFA may use sub‑advisers or third‑party model portfolios, provides ongoing monitoring with at least annual reviews, and generally does not accept performance‑based fees.
Noteworthy distinctions include material affiliations with Cambridge Investment Research: several advisory personnel are registered representatives and insurance agents, participate in Cambridge equity programs and may receive commissions or loans tied to Cambridge, arrangements the brochure discloses as potential conflicts of interest. The firm also recommends Schwab for custody while noting Schwab institutional services are tied to asset thresholds, and it discloses that it does not aggregate multiple client orders for the same security—practices that can influence trade execution and cost allocation.
Client services
Financial planning
Portfolio management
Pension consulting
Expertise
Wealth management
Retirement plans for business owners (SEP, solo 401k)
General retirement planning
Fee options
Fixed fees for financial planning: $1,500 for comprehensive plan, $750 for partial plan
$0 - $1,000,000: 1.50% annually $1,000,001 - $5,000,000: 0.50% annually $5,000,001+: 0.25% annually
Separate commission-based compensation for securities and insurance products through affiliated registered representatives and insurance agents
Hourly fees for financial planning starting at $150 per hour
Account minimum: $25,000 Fee-only: Financial planning fixed fees: $1,500 comprehensive, $750 partial; hourly fees starting at $150/hour
Main office location
Lfa
1219 33 Rd Street South
St. Cloud MN 56301, United States
Number of offices
3
Florida · Minnesota · South Dakota · Texas · Wisconsin
Disclosures
Firm disclosures are reported in Form ADV Part 1A, Item 11. They include criminal charges, regulatory actions, civil proceedings, and professional disciplinary events involving the firm or its advisory affiliates.
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
These affiliations may expand the services this firm offers and, in some cases, how they are compensated.
Is active or affiliated with:
Insurance agent
They sell insurance products and may earn commissions on those sales.
Is not active or affiliated with:
-
Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
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