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Cherry Tree Wealth Insights

The CARES Act Waives 2020 Required IRA Distributions

The world has changed drastically in the last month or so. Because of the economic damage caused by COVID-19, the U.S. passed the CARES Act. One of the provisions is that Required Minimum Distributions (RMDs) are waived for 2020. In this issue of Cherry Tree Wealth Insights, we take a look at how this might affect you.

CTW Newsletter 04 2020 The CARES Act

Cherry Tree Wealth Management recognized as 2020 Five Star Wealth Managers

We are pleased to announce that our Investment Advisors Keith Tufte, John O’Connor, Conner Kolodge, and Chelsea Tufte of Cherry Tree Wealth Management were named 2010 Twin Cities “FIVE STAR” Wealth Managers by Twin Cities Business Magazine and Mpls.St.Paul Magazine. Keith and John were also winners in 2016-2019.

Wealth advisors were evaluated on customer service, knowledge/expertise, communication, experience, client retention, a clean regulatory record, and overall client satisfaction.

CTW 2020 Five Star Wealth Manager Handout

Justin Frys has joined Cherry Tree Wealth Management

We are happy to announce that Justin Frys has joined Cherry Tree Wealth Management, LLC as an investment advisor to help serve our growing client base. Justin comes to us with over 20 years of experience as a financial advisor and manager of financial advisors. Justin has a friendly personality and a customer service focus, and we hope you will get a chance to meet or speak with him soon. Justin Frys Bio

Cherry Tree Wealth Management recognized as 2019 Five Star Wealth Managers

We are pleased to announce that our Investment Advisors Keith Tufte, Kathleen Tranovich, John O’Connor, and Conner Kolodge of Cherry Tree Wealth Management were named 2019 Twin Cities “FIVE STAR” Wealth Managers. Keith, John, and Kathleen were also winners in 2016, 2017, and 2018.

Wealth advisors were evaluated on customer service, knowledge/expertise, communication, experience, client retention, a clean regulatory record, and overall client satisfaction.

CTW 2019 Five Star Wealth Manager Handout

John O’Connor publishes article in RIA

Cherry Tree Wealth Management Investment Advisor, John O’Connor, wrote an article about CTW’s investment strategy and how they build client portfolios in the October 15th edition of RIA, Citywire’s magazine for registered investment advisors. The article was republished online November 8th. >full article

Cherry Tree Wealth Management, LLC formerly Adam Smith Advisors, LLC

Minnetonka, MN, April 12, 2018 – Adam Smith Advisors, LLC announced today that it has changed its company name to Cherry Tree Wealth Management, LLC. Adam Smith Advisors, LLC has been the wealth management business within Cherry Tree Companies and has used both the Adam Smith Advisors and Cherry Tree brand names for some time. The goal of the name change is to better leverage the strong Cherry Tree brand name, and to reflect that we are part of the Cherry Tree family of companies. 

Our business, ownership and strong team of advisors will remain the same, only our brand name is being changed. Cherry Tree Wealth Management, LLC is an independent, fee-based registered investment advisory (RIA) business. We are committed to providing a full range of wealth management services to help our clients meet all their financial and life goals.  “We are excited to change our wealth management company brand name to Cherry Tree Wealth Management, LLC.  The Cherry Tree brand name is well-known and has a positive image in the Twin Cities and Upper Midwest, due to its history of more than 30 years in business helping businesses and families in the Midwest”, says Keith Tufte, President of Cherry Tree Wealth Management, LLC.

Cherry Tree Wealth Management acquired Trusted Financial Partners

Cherry Tree Wealth Management formerly Adam Smith Advisors, a Minneapolis based investment firm, has acquired Trusted Financial Partners of St. Paul, LLC (TFP). The acquisition closed November 30, 2017, and is the latest RIA wealth management acquisition for Adam Smith Advisors, LLC. “We are pleased to continue to grow our firm organically and through acquisitions, so we can provide wealth management services to more and more families and businesses in the Midwest. >>more

Cherry Tree Wealth Management recognized as 2018 Five Star Wealth Managers

We are pleased to announce that our Investment Advisors, Keith Tufte, Kathleen Tranovich and John O’Connor of Cherry Tree Wealth Management formerly Adam Smith Advisors were named Twin Cities 2016, 2017 and 2018 “FIVE STAR” Wealth Managers by Twin Cities Business Magazine and Mpls.St.Paul Magazine.

Wealth advisors were evaluated on customer service, knowledge/expertise, communication, experience, client retention, a clean regulatory record, and overall client satisfaction. >>more

Erin Buchen joins Cherry Tree Wealth Management as Investment Advisor Assistant

We Are Proud To Introduce the launch of the Cherry Tree Wealth Management BLOG

We recently launched a weekly blog, designed to give you more frequent insights about current financial topics of interest. The BLOG is written by our own Investment Advisors and a new topic will be presented every Tuesday. >>Adam Smith Blog

If  you would like to receive weekly reminders of the latest entries, please contact Erin Buchen or call (952) 253.9024.

Chelsea Tufte, promoted to Investment Advisor

Connor Kolodge joins Cherry Tree Wealth Management

Connor Kolodge is an Investment Advisor focused on tax planning & charitable giving, comprehensive financial planning, investment management, and cash flow panning and lifestyle spending analysis.

Cherry Tree Wealth Management named among the top wealth managers in theTwin Cities

At Cherry Tree Wealth Management (formerly Adam Smith Advisors), we are very proud of our entire team. We are pleased to announce that ASA Advisors, Kathleen Tranovich, John O’Connor and Keith Tufte were recently named among the top wealth managers in the Twin Cities. Please see the attachment for more details. We take pride in working closely as a team with our clients so that we know their specific needs and advise them in reaching their financial goals. >>more

Cherry Tree Wealth Management again named among the top wealth managers in the Twin Cities

We are pleased to announce that one of our Senior Investment Advisors, Kevin O’Connor was named a Twin Cities 2014 “FIVE STAR” Wealth Manager by Twin Cities Business Magazine and Mpls.St. Paul Magazine. The list is generated based on overall client satisfaction and created from an independent survey of over 35,000 high net worth clients and financial services industry professionals. Kevin was also selected as a FIVE STAR Wealth Manager in 2011. He joins Keith Tufte as a multiple-year FIVE STAR award winner.

Cherry Tree Wealth Management acquires Wealth Management Services LLC

We are very pleased to share our good news with you. Effective November 1, 2013, Cherry Tree Wealth Management (formerly Adam Smith Advisors, LLC) acquired Wealth Management Services, LLC (WMS). WMS is a wealth management firm and registered investment advisor based in Minneapolis. We welcome the two owners and senior investment advisors of WMS: Doug Forsberg and Janet Pollish, to our team. WMS and CTW’s business attributes align extremely well in that our objectives, investment strategies and business approach are virtually identical. By taking this step, we will be building stronger and deeper wealth management service capabilities and a larger and stronger team to serve clients.

Cherry Tree Wealth Management named among the top wealth managers in the Twin Cities

We are pleased to announce that our Senior Investment Advisors, Kevin O’Connor and Keith Tufte of Cherry Tree Wealth Management (formerly Adam Smith Advisors), were both named Twin Cities 2011 “FIVE STAR” Wealth Managers by Twin Cities Business Magazine and Mpls.St. Paul Magazine. The list is generated based on overall client satisfaction. Less than 7% of wealth managers were selected for this list. This list was created based on an independent survey of over 35,000 high net worth clients and financial services industry professionals. Wealth advisors were evaluated on customer service, integrity, knowledge/expertise, communication, value for the fee charged, meeting financial objectives, service, quality of recommendations, a clean regulatory record, and overall client satisfaction.

STAR TRIBUNE ARTICLE

More Financial Advisers See Strength in Numbers

Independent advisers are making alliances and forming networks in order to compete. 

>Download article reprint (pdf 76k)

Cherry Tree Wealth Management (located in Minneapolis, MN) is an SEC registered investment advisor and fiduciary advisory firm.