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Proud to share our FINRA BrokerCheck background reports.

About


The 401 Group at Focus Financial provides comprehensive wealth management through the highest standard of fiduciary advice, delivered through a concierge-level client service model, and is solely focused on meeting each of our clients' uniquely personal financial goals. As a full-service independent private wealth management firm, we continually strive to deliver on these commitments by embodying the essential advisor qualities outlined below:

 Fiduciary Standard of Advice
Independence
Education, Credentials, & Experience
Personally Tailored Wealth Management

Focus Financial is a leading independent financial advisory firm focused on providing comprehensive wealth management and financial planning services to clients.

Focus Financial is one of the nation’s largest, non-proprietary advisory firms with more than $4 billion in assets under management. We’ve consistently been ranked as one of the metro area’s Top 15 Wealth Management Firms and one of the Top 10 Certified Financial Planner™ Firms by The Minneapolis/St. Paul Business Journal*. Large enough to provide stability, resources and a variety of services, yet small enough to provide personalized service, Focus Financial prides itself on maintaining a client-focused approach.

The ability to share knowledge, ideas, and strategies among a network of successful independent financial advisors is an invaluable resource; and the support of a seasoned administrative, legal, marketing and executive management team allows the 401 Group of Focus Financial to focus on what is most important...Providing exceptional service and prudent advice to our clients.

*Third-party rankings and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the advisor by a client nor are they representative of any one client’s evaluation.
*Rankings are based on total assets under management.

The 401 Group provides holistic wealth management services to a diverse mix of successful individuals, families, and businesses. We have developed specialized expertise across several specific client segments, which are outlined below:

 Retirees & Pre-retirees
 Businesses & Business Owners
Corporate Executives & Management
Emerging Accumulators

Approach & Process


The 401 Group initial Discovery Meeting and ongoing wealth management relationship is designed to seek an understanding of your personal values and the financial experience that has helped shape what you believe money should represent in your life. We work closely with you to develop a purposeful and deliberate financial plan that can adapt to the unexpected, while also balancing your current lifestyle choices with your most important future goals. In the financial discovery and organization process, we will address the following essential issues:

  • Define and prioritize your specific financial planning goals and objectives
  • Assess your financial ability and emotional tolerance for investment risk
  • Learn about your personal financial values and how these affect your view of money
  • Explain our holistic approach to wealth management, financial planning, and portfolio management
  • Determine if, and how, we may best work together to achieve your personal, family, or organizational goals
  • Organize your comprehensive financial situation utilizing the latest financial tools and technology, which provide a single point of secure access to your total financial picture.
  • Provide a framework to make informed, unbiased financial decisions based on your financial values

LEARN MORE ABOUT OUR PROCESS 

With an in-depth understanding of your current financial position, financial values, risk tolerance, and preferences; our team of CERTIFIED FINANCIAL PLANNER Professionals and Chartered Financial Analysts will conduct your comprehensive financial analysis utilizing the most sophisticated, client focused wealth management software available. In addition to the 401 Group's strong human intellectual capital, our analytical resources extend to advanced investment planning technology tools as well as institutional quality investment research subscriptions, along with access to a vast network of tax and legal professionals specializing in a wide array of applicable business, estate, and tax planning issues. We will address each of the following key financial areas within your planning analysis:

  • Cash Flow, Balance Sheet, and Income Statemenet Production & Analysis
  • Risk Management, Protection, and Insurance Analysis
  • Employee Benefit Plan Analysis
  • Income Tax Planning Analysis
  • Investment Portfolio Analysis
  • Retirement Planning Analysis
  • Legacy & Estate Planning Analysis

 

The 401 Group's customized financial planning analysis will provide you and your Advisor with the information necessary to make unbiased fact-based decisions about your financial future. After a discussion taking into consideration your financial values and personal preferences around the viable approaches available to meeting your goals, you will feel confidently prepared to implement the recommended solutions prescribed to meet your goals. Our professional expertise has helped many families and organizations implement advanced planning strategies to meet their objectives in a more effective manner. Frequently addressed issues include some of the following:

  • Risk-Based Asset Allocation Optimization & Portfolio Management 
  • Retirement Income Strategies
  • Tax-Preferred Savings Strategies
  • Roth Conversion Analysis
  • Business Succession Planning
  • Executive Benefit Decisions (ESOPs, Profit Sharing, etc.)
  • Managing Concentrated Stock Postions (Capital Gain Minimization)
  • Estate Planning Utilizing Trusts (revocable & irrevocable)
  • Insurance Consulting (Coverage Needs, Permanent vs. Term Analysis, etc.)
  • Retirement Plan Choices for Businesses, Non-Profits, and the Self-Employed
  • Income & Estate Tax Minimization
  • Charitable Gifting Strategies

Once we begin to implement your financial plan, your ongoing wealth management relationship with the 401 Group has just begun. Utilizing advanced wealth management technology and a concierge client service model, The 401 Group continually strives to ensure our clients are informed and prepared for legal, tax, financial, and economic changes that could affect their holistic plan, while also ensuring you feel as though you have access to your CFP® and/or CFA Professional whether through your regularly scheduled (bi)-annual financial planning meetings or an impromptu tax question over the phone. 401 Group's Personal Financial Management Portal is always available to help organize and provide insight around your total financial picture. A preview of some of the ongoing member service features are provided below:

  • Ongoing Quarterly, Bi-Annual, or Annual In-Office or Virtual (web-based) Planning Review Meetings are Available Based on Your Preference
  • Monthly Newsletters & Economic Commentary Addressing Timely Issues and Potential Financial Strategies
  • Intellectual Capital Provided Through our 401 Group "News & Insights" Section of our Website (Blog)
  • Updates from our CFP® & CFA Society of MN Member Education Events
  • Exclusive Invites to our Client Appreciation, Financial Education & Philanthropic Events Throughout the Year
  • Access to Our Personal Financial Management Portal Tools

eMoney Advisor Tour 

Advisory Services


401 Group believes wise financial decisions can only be made when one understands the comprehensive financial circumstances and objectives of a an individual, family or organization; because each financial decision is interrelated and requires balancing competing priorities, objectives, and risks across each of the key areas of financial planning. Comprehensive Financial Planning is the framework from which all educated financial decisions can be made from a holistic perspective. In the financial planning process, we will provide analysis and recommendations within each of the following key areas of financial planning (as defined by the CERTIFIED FINANCIAL PLANNER™ Board of Standards):

Current Financial Management
  • Cash Flow, Balance Sheet, & Income Statement Analysis
  • Current Asset/Liability Management 
  • Review of Potential Business and/or Private Investment Opportunities
  • Small Business Planning & Financial Management
Risk Management & Protection Planning
  • Risk Management Scenario Analysis to Determine Potential Coverage Gaps
  • Life, Health, Disability, Property/Casualty & Umbrella Insurance Policy Review & Selection
  • Coordination with Employee Benefit Plans
  • Self-Insurance Planning
Income Tax Planning
  • Federal & State Tax Return Review
  • Income Tax Scenario Analysis for Current & Future Years
  • Proactive Tax Minimization Strategies for Current & Future Years
  • Tax-Sensitive Portfolio Management
  • Self-Employed & Small Business Tax Planning Assistance
  • Coordination with your CPA or Tax Professional
Investment Planning
  • Investment Portfolio Review
  • Risk Based Asset Allocation Optimization
  • Discretionary Investment Portfolio Management
  • Coordination of Investment Strategies within Employer Retirement Plans
  • Evaluation and Implementation of Passive, Active, & Fundamental/Rules-Based Investment Approaches within Tactical Asset Allocation
Retirement Planning
  • Retirement Projection & Monte Carlo Analysis Provided Under Multiple Scenarios
  • Pension Benefit & Retirement Plan Review
  • Social Security Review & Claiming Strategies
  • Retirement Asset (Rollover IRA & Roth Conversion) Planning
  • Tax Advantaged Retirement Saving/Distribution Strategies
  • Fixed & Variable Annuity Review
  • Small Business & Self Employed Retirement Plan Selection & Funding
Legacy & Estate Planning
  • Estate Planning Document Review & Scenario Analysis
  • Irrevocable & Revocable Trust Strategies
  • Health Care, Guardianship, & Financial Decision-Making if Incapacitated 
  • Family & Charitable Gifting Strategies
  • Trust Portfolio Management Services
  • Coordination of Planning with your Estate Attorney

The 401 Group provides individually customized Portfolio Management services crafted to your personal risk preferences and designed to meet near, mid, and long-term financial objectives as efficiently and effectively as possible. By integrating the findings of your comprehensive financial planning analysis we can ensure your portfolio recognizes your specific time, tax, legal, liquidity, sustainability/responsibility, and risk constraints; while managing your return and social impact objectives to ensure your financial goals can be met as outlined within your holistic financial plan. 

The 401 Group Advisors' expertise in both comprehensive financial planning (CFP®) and investment analysis (CFA), allows for individually customized financial plans that are integrated within a portfolio that is managed directly by your personal Advisor and guided by the insights of some of the most sophisticated institutional research outlets available. This information is synthesized by our Chartered Financial Analyst on a continual basis and incorporated into a fundamentally driven global asset allocation model designed to achieve your specific income and/or accumulation objectives, while respecting your personal investment values and/or constraints. Our portfolios are built based on time-tested academic research and the most recent market-based investment intelligence available; which leads us to efficiently manage your portfolio at a low (tax & expense) cost over the term of your investment, while providing the resources and advice to effectively adapt based on your personal situation and the overall economic/market environment.

Your portfolio will be constructed based on the tax status and time-frame of your specific account and goals. We provide investment advisory services on the following types of accounts:

  • Traditional IRAs
  • Roth IRAs
  • Taxable Brokerage Accounts
  • Retirement Plans
  • Trusts 
  • Foundations/Endowments

 

Business ownership and personal wealth are intertwined.

Whether you’re still building your business – or ready to address your exit strategy – we can help you formulate and execute a plan that integrates the goals you have for your business, yourself and your family.

The 401 Group provides specialized advice and services to many businesses, their owners, and employees. We understand the unique needs of the business owner; we work to maximize the potential and security of your business asset, and understand the nuances of integrating your business planning needs to ensure you achieve your personal financial planning goals while managing your unique risks as an entrepreneur. Working with you and your other advisors, we take a holistic approach to accurately assess how we can best serve you. We provide management and strategic solutions for closely held businesses of all types, including the following advisory services:

  • Retirement Plan Consulting Services: Plan Selection, Design, Administration, & Investment Advisory Services - [401(k), 403(b), Deferred Comp, SIMPLE 401(k)/IRA, Individual (k), & SEP IRAs]
  • Group Benefits - Life, Health, Dental, Disability
  • Business Succession & Exit Planning 
  • Risk Management - Key Person Coverage, Buy/Sell Agreements
  • Business Valuation
  • Closely Held Asset Management
  • Small Business Cash Flow Management - QuickBooks Advisor Integration
  • Business Tax & Estate Planning Issues
  • Employee Financial Planning & Education Services

Advisory Team


Carl J. Arrell, CFA®, CFP® Photo Carl J. Arrell, CFA®, CFP® Hover Photo

Carl J. Arrell, CFA®, CFP®

Founder & Wealth Manager
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Carl J. Arrell, CFA®, CFP®

Financial Advisor


Helping successful individuals, business owners, and their companies meet their unique financial objectives through efficient, effective financial planning and investment management is Carl’s professional mission and fiduciary duty as an independent wealth manager and founder of the 401 Group at Focus Financial. Carl has over 15 years of experience providing investment advisory and private wealth management services to his clients. In addition to holding a degree from the University of Minnesota – Carlson School of Management with a concentration in Finance and Political Science, Carl has also met the rigorous education, examination, experience, background and ethics requirements necessary to earn the highly regarded Chartered Financial Analyst® and CERTIFIED FINANCIAL PLANNER™ Designations. Carl prides himself in providing thoughtfully informed, unbiased, and straightforward financial planning and investment advice that ensures his clients’ most meaningful goals are attained.

Prior to founding the 401 Group, Carl accrued an impressive base of experience, knowledge, and relationships that serve as the foundation of his current professional practice. He was introduced to wealth management and financial planning principles by his father in 2002, while working closely and assisting him within his own financial advisory practice at Ameriprise Financial. After earning his Degree, Carl advanced his position at Ameriprise Financial and began his work as a Financial Advisor with the firm. Over several years with Ameriprise, Carl gained the knowledge and experience necessary to provide sophisticated investment, tax, risk management, retirement, and estate planning advice to successful individuals, business owners, and their companies. In 2008, Carl joined AIG Retirement where he extended his expertise to institutional retirement plan management. While at AIG, Carl provided strategic and tactical advice to employers regarding both retirement plan design and ongoing administration, while also providing investment advice to the plans' trustees and the clients under his management. In addition, he was responsible for the personal wealth management and comprehensive financial planning services provided to the key employees of these organizations.

Carl is a Minnesota native and current resident of the Tangletown Neighborhood of Southwest Minneapolis, where he lives with his Wife (Andrea), Daughter (Ramona), and family dog (Tito). Carl serves as the President of the Tangletown Neighborhood Association Board, and regularly volunteers with local non-profit organizations in the Twin Cities area. Carl keeps active by regularly running, biking, cross-fitting, traveling, and enjoying quality time with friends and family.

 

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The 401 Group

Our Team
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The 401 Group Team strives to deliver the highest quality financial advice designed to ensure our clients' financial goals are achieved in the most efficient and effective manner possible. 

Please contact us at 401group@focusfinancial.com if we may be of assistance.

Joel C. Schrimpf, CFP® Photo Joel C. Schrimpf, CFP® Hover Photo

Joel C. Schrimpf, CFP®

Founder & Wealth Manager
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Joel C. Schrimpf, CFP®

Financial Advisor


Joel brings unique expertise in providing guidance and consulting services to business owners and entrepreneurs of all stages, and enjoys the meaningful holistic financial planning he provides to his clients approaching and enjoying their retirement. In addition to his work as a wealth manager, Joel is also a founder of the 401 Group at Focus Financial. Beyond attaining his degree in Mathematics from Minnesota State - Mankato, Joel has also met the experience, education, ethics, and examination requirements to hold the CERTIFIED FINANCIAL PLANNER™ Designation, and is currently a Level III Chartered Financial Analyst Candidate. 

Joel began his work as a Financial Advisor with Ameriprise Financial in 2003, where he provided comprehensive financial planning services to individuals and small business owners. In 2006, Joel joined Focus Financial as an independent advisor working closely with one of its founding partners. Soon thereafter, Joel launched the North Loop - Minneapolis office location that now is home to The 401 Group at Focus Financial. Joel and his team provide financial advice and planning services to clients regarding retirement, tax, and estate planning as well as investment and risk management.

Joel lives in Chanhassen with his wife, Sara, and two daughters Jovie and Claire. As a former collegiate wrestler, he stays active in the community as a Coach of the Minnetonka High School wrestling team. Joel is a proud Twins fan, and you can often catch him and his family enjoying a ballgame at nearby Target Field during the summer months.

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Christopher Hanson, CFP® Photo Christopher Hanson, CFP® Hover Photo

Christopher Hanson, CFP®

Wealth Manager
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Chris is passionate about helping his clients achieve and enjoy the financial security his advice provides. He enjoys spending time getting to know clients and helping them navigate through all phases of their financial lives. Chris provides expertise to individuals and business owners on both their wealth accumulation and distribution strategies.

Chris came to The 401 Group at Focus Financial in 2017 with 8 years of experience as a Financial Advisor with Northwestern Mutual. Chris is a CERTIFIED FINANCIAL PLANNER™ and earned his Bachelor's Degree in Business Administration from the University of Wisconsin-Stout (where he also played football). 

Outside of the office, Chris enjoys spending time at his home in the west metro with his family. Chris loves the game of golf and enjoys spending time outdoors hunting and fishing

Brian Wagener  Photo Brian Wagener  Hover Photo

Brian Wagener

Financial Advisor Associate
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Brian is an invaluable member of the 401 Group Team, providing financial planning expertise and exceptional client service. Brian graduated from the University of Minnesota - Twin Cities, where he studied Economics; and he also holds his Series 7 as a Registered Broker.

Annette Machemehl Photo Annette Machemehl Hover Photo

Annette Machemehl

Advisor Support Specialist
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Annette manages the client experience throughout the financial planning process and is dedicated to ensuring each client's needs are being met along the way through exceptional client service.

Please contact her at amachemehl@focusfinancial.com if you have any questions or need assistance with anything.

Location & Contact (Minneapolis)


Located in the heart of Downtown Minneapolis' vibrant North Loop neighborhood; the 401 Group's office is conveniently located for those busy professionals living or working in the city, and its central location provides an easy commute for those coming in from the surrounding Twin Cities Metro. The 401 Group office is easily accessed from the major highways and is less than a block from the Target Field Metro Transit Station; not to mention a short walk to some of our city's most acclaimed restaurants, cocktail lounges, and cafes. The North Loop is the fastest growing neighborhood in Minneapolis and is comprised of a diverse mix of businesses, brew-pubs, restaurants, studios, and many who call it home. We welcome you to drop in if you're in the neighborhood, otherwise please contact us using the information provided below with any questions, or to schedule a consultation.

Complimentary Off-Street Parking is available for all of our clients.

 

Address

401 N 3rd Street Suite 210
Minneapolis, MN 55401 


Email

401group@focusfinancial.com

Phone

(612) 746.0588 

(612) 746.0665

Fax

 (612) 746.1905



Location & Contact (Waconia)


Located just off Main Street in Downtown Waconia; the 401 Group's Waconia office is conveniently located for those living or working in the West Metro. We welcome you to drop in if you're in the neighborhood, otherwise please contact us using the information provided below with any questions, or to schedule a consultation.

Complimentary Off-Street Parking is available for all of our clients.

 

Address

124 W Main Street
Waconia, MN 55387  


Email

401group@focusfinancial.com

Phone

(952) 442.6352   


Fax

 (952) 442.6313