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JNBA Financial Advisors

Multifamily office listing in Bloomington, Minnesota, United States.

  • SEC-registered
  • Founded 1978
Regulatory AUM
$2.0 billion
Employees
36
Clients
More than 500
Founded
1978

Independent, fee-only fiduciary wealth management firm providing customized financial life planning and investment strategies.

Overview

JNBA Financial Advisors serves individuals, families, family offices, ultra-high-net-worth clients, businesses, women in transition, and nonprofits through personalized wealth management and ongoing advisory relationships.1

History

Judith Brown founded JNBA Financial Advisors in 1978. Her client-first philosophy continues to guide the firm’s work.2

Leadership

Richard S. Brown serves as Chairman and Chief Executive Officer, and Kim Brown is President. The leadership team also includes Cärin Viertel, Managing Director; Michael Bilotta, Senior Advisor, Investment Strategist; John Foster, Senior Advisor, Investment Strategist; Elise Huston, Director of Advisory Services, Senior Advisor; and Patrick D. Moyneur, Managing Director, Senior Advisor.2

Services

JNBA provides wealth management, retirement planning, investment management, tax planning, and legacy planning. The firm develops custom financial life plans and investment strategies, maintains ongoing communication, and collaborates with clients’ other professional advisors. JNBA states that it does not accept commissions and charges a percentage of the assets it manages.12

What the firm offers

  • Investment management
  • Tax planning
  • Retirement planning

Client Focus

The firm works with individuals and families, family offices, ultra-high-net-worth clients, businesses, women in transition, and nonprofit organizations.1

Approach

JNBA reports serving clients through a team-based model that emphasizes long-term relationships. The firm regularly reassesses financial plans and investment opportunities as circumstances change, helping clients maintain strategies aligned with their evolving needs.12

Registration

JNBA Financial Advisors, LLC is registered with the U.S. Securities and Exchange Commission. The SEC’s Investment Adviser Public Disclosure system lists its registration as approved effective June 29, 1984, under CRD 106550.3

By the numbers

Regulatory AUM by year$0K$551M$1.1B$1.7B$2.2B2016201720182019202020212022202320252026
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 106550. As of .
Regulatory assets under management
YearRegulatory AUMDiscretionaryNon-discretionary
2016$638 million$638 million$0
2017$764 million$725 million$38 million
2018$908 million$908 million$0
2019$885 million$859 million$26 million
2020$1.1 billion$1.0 billion$30 million
2021$1.2 billion$1.2 billion$25 million
2022$1.5 billion$1.5 billion$2 million
2023$1.3 billion$1.3 billion$0
2025$1.7 billion$1.7 billion$0
2026$2.0 billion$2.0 billion$0
Average AUM per client by year$0K$495K$989K$1M$2M20182019202020212022202320252026
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 106550. Regulatory AUM divided by the client count reported in Item 5D. Client types reported as fewer than 5 are not counted, so this is approximate. As of .
Average AUM per client
YearAverage AUM per client
2018$1 million
2019$1 million
2020$1 million
2021$1 million
2022$1 million
2023$1 million
2025$2 million
2026$2 million
Clients by type (2026)Individuals591High net worth individuals514Charities10
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 106550. "<5" means the firm reported fewer than 5 clients of that type. As of .
Clients by type
Client typeClients (2026)
Individuals591
High net worth individuals514
Charities10
Employees by year0102030402016201720182019202020212022202320252026
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 106550. As of .
Employees reported on Form ADV
YearEmployees
201626
201725
201824
201924
202027
202126
202231
202332
202534
202636

FAQs

What services does JNBA Financial Advisors provide?

Its services include wealth management, retirement planning, investment management, tax planning, and legacy planning.1

Who does JNBA serve?

JNBA serves individuals and families, family offices, ultra-high-net-worth clients, businesses, women in transition, and nonprofits.1

How does JNBA charge for its services?

The firm states that it does not accept commissions and charges a percentage of the assets it manages.2

  • LocationMultifamily offices in Minnesota

    Explore Minnesota multifamily offices to compare how firms in the region serve wealthy families and business owners. This resource can help you place JNBA Financial Advisors' investment management, tax planning, and retirement planning services within the broader local advisory market.

  • Network siteCapitalGainsTax.com

    CapitalGainsTax.com offers practical guides on capital gains tax and planning approaches. Business owners and affluent families considering JNBA Financial Advisors can use it to prepare questions about investment sales, tax exposure, charitable giving, and the timing of portfolio decisions.

  • GuideMFO vs SFO vs virtual family office

    This comparison of multifamily offices, single family offices, and virtual family offices explains how each structure differs in staffing, privacy, cost, and service scope. It can help a family or business owner decide whether an independent advisory relationship fits their financial planning needs.

  • GuideFiduciary duty vs suitability

    Learn how fiduciary duty differs from the suitability standard when evaluating an adviser. The distinction gives prospective JNBA Financial Advisors clients a framework for asking how recommendations, fees, conflicts, investment management, and planning decisions are handled.

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    Review Olson Wealth Group, Okabena Company and Okabena Investment Services, Inc., and Sawmill Trust Company as other firms listed on this site. Comparing their stated services, client focus, and Minnesota presence can help a family or business owner define questions for JNBA Financial Advisors.

Sources

  1. JNBA Financial Advisors
  2. JNBA Financial Advisors, Who We Are
  3. SEC Investment Adviser Public Disclosure, JNBA Financial Advisors, LLC

Claim or correct this profile

This profile is a factual summary written in our own words from public sources. It is for information only. It is not an endorsement, rating, ranking or recommendation, and it is not investment advice. MultiFamilyOffices.com is not affiliated with the SEC or with this firm unless stated. Form ADV figures are self-reported by the firm.

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