Investment Banking

Cherry Tree and Associates provides investment banking services through its FINRA-licensed broker dealer. Its M&A practice targets successful business leaders and established corporations to creatively build value, and to maximize liquidity opportunities by executing professionally managed transactions. Additionally, our firm raises money for growth companies through institutional private placements, conducts valuations and fairness opinions and performs strategic advisory services that help companies grow and prosper.

Wealth Management

Cherry Tree’s affiliate, Adam Smith Advisors (ASA), provides wealth management services to assist successful business leaders and families in managing their net worth. It also manages 401K retirement plans for growing companies. ASA uses Asset Allocation Strategies and low fee index funds, to implement an Individually Tailored Investment Plan for each client. Adam Smith is a Registered Investment Advisor.


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Estate Taxes: Read the Fine Print

Estate Taxes: Read the Fine Print
The great debate on tax reform is heating up. I’m in favor of simplifying the tax code and think there’s plenty of room for improvement. Here’s one thing that might surprise you, though. I think we should keep federal estate taxes. There is a very good reason for this. With […]

By |October 17th, 2017|Wealth Management|

A Few Good Variable Annuities…Very Few

A Few Good Variable Annuities…Very Few
This is a public service announcement for people holding old variable annuities.

I hate variable annuities. I know hate is a strong word. I mean it. I hate variable annuities. Don’t ever buy one. Annuities are a product designed to be sold by slick salespeople looking to get a fat commission. […]

By |October 10th, 2017|Wealth Management|

New MN Tax Break for 529 Plans

New MN Tax Break for 529 Plans
Saving for college just got a little less expensive in Minnesota. Why haven’t you heard much about this? It is part of a bill that Governor Mark Dayton and the legislature took to the MN Supreme Court in a dispute about other tax cuts and funding of the legislature. […]

By |October 3rd, 2017|Wealth Management|

The Math of Socially Responsible Investing

The Math of Socially Responsible Investing
There has been a lot of innovative work done with Socially Responsible Investing in the last five years. It used to be that we thought we were doing well if we could align 25%-30% of a portfolio with a client’s values in a cost effective way. Now we’re getting close […]

By |September 26th, 2017|Wealth Management|

Reverse Mortgage Update

Reverse Mortgage Update
HUD (The Department of Housing and Urban Development) recently updated some of the rules around reverse mortgages. Overall, the cost of these loans will go up. HUD increased the cost of setting up a reverse mortgage loan, reduced the annual mortgage insurance premiums, and decreased the maximum amount you can borrow. These changes […]

By |September 19th, 2017|Wealth Management|

What We Can Learn from Waffle House

What We Can Learn from Waffle HouseHave you heard of the Waffle House index? If you’re near me in the upper Midwest, you might not have even heard of Waffle House. My nearest location is 365 miles away. Waffle House is a 24 hour diner that is so good at dealing with natural disasters that […]

By |September 12th, 2017|Wealth Management|

Transitioning the Family Cabin

Transitioning the Family Cabin
Cabin season is winding down. Do you know what that means for me? More traffic on Friday mornings. It is a summer tradition in Minnesota to take Fridays off and head to the cabin. That means I have less cars to contest with on my way to work. Why? My family doesn’t […]

By |September 5th, 2017|Wealth Management|

Qualified Charitable Distribution

Qualified Charitable Distribution
I am starting to hear more interest from clients in qualified charitable distributions (QCDs). I am a big fan of them and thought I would spend a couple of minutes explaining how they work and who might benefit from using them. I predict that within a few years, a QCD will be the […]

By |August 29th, 2017|Wealth Management|

11 Good Reasons to Contribute to a Roth 401k

11 Good Reasons to Contribute to a Roth 401k

I thought I would have a little fun and come up with 11 reasons to contribute to a Roth 401k. Why come up with 11 reasons instead of 10? In honor of the amplifier in “This is Spinal Tap.”

For the young

You are in a low tax […]

By |August 22nd, 2017|Wealth Management|

Business Ethics

Business Ethics
A certain large retail bank in my area is making national headlines again for allegedly cheating its customers out of their money – this time signing them up for car insurance they both didn’t need and didn’t know they had. My loyalty, as a banking customer since 1989, is being quickly eroded. As Warren […]

By |August 15th, 2017|Wealth Management|