Drost Financial
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
About
Drost Financial serves individual investors — including high-net-worth clients, young families, and corporate executives — with discretionary portfolio management and comprehensive financial planning. The firm develops individualized investment policies and implements portfolios intended to meet each client’s stated objectives and constraints.
The firm’s investment process combines fundamental security analysis with modern portfolio theory, using both passive and active vehicles and selecting funds and securities based on underlying holdings, liquidity, and strategic-beta considerations rather than only lowest-cost metrics. Accounts are typically managed on a discretionary basis with quarterly reviews and the ability for clients to impose reasonable restrictions on holdings or sectors.
The firm is small and founder-led, operating with a very limited advisory team and hands-on oversight, and discloses that the founder devotes roughly 25% of professional time to a separate, non-investment technology business. It does not recommend outside managers, recommends an institutional custodian for custody and execution, and offers an ongoing subscription-style financial planning service with annual plan reviews and continuous monitoring.
Client services
Expertise
Occupation focus
Demographic focus
Fee options
Ongoing Comprehensive Financial Planning: Upfront fee $1,200-$10,000 plus ongoing monthly fee up to $10,000 per month, fees based on complexity and client needs.
Negotiable up to 2% annually (not to exceed 2%)
Ongoing Financial Planning ongoing fee paid monthly in arrears, up to $10,000 per month based on complexity.
Account minimum: $250,000 (may be waived at firm's discretion)
Main office
Ham Lake MN
Advisors at this office
2
Most active in
Minnesota · Texas · Wisconsin
Also doing business as
Drost Family, LLC · Drost Financial · Drost Financial, LLC
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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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.
Forms ADV
Advisors at this firm
Luke E
CFP®, Series 63
Ham Lake, MN
Drost Financial
Luke Eberly is a CFP® certificant with one year of industry experience, currently advising at Drost Financial. He previously worked at CWM, LLC, Shilanski & Associates, Inc., and Accredited Investors. The firm serves individual investors, including high-net-worth clients, young families, and corporate executives, offering discretionary portfolio management and comprehensive financial planning with a focus on fundamental security analysis and modern portfolio theory.
Steven D
CFP®, CFA®, Series 66
Ham Lake, MN
Drost Financial
Steven Drost is a CFP® and CFA® with nine years of industry experience. He is the principal advisor at Drost Financial, where he has worked since 2021. Prior to that, he held roles at Private Client Services LLC, Affiance Financial, and Echo Wealth Management. Outside of his advisory work, Mr. Drost is the Co-Founder and CEO of Quivr CRM, a Salesforce OEM partner focused on customer experience development. Drost Financial serves individual investors, including high-net-worth clients, young families, and corporate executives, providing discretionary portfolio management and comprehensive financial planning. The firm combines fundamental security analysis with modern portfolio theory, using both passive and active investment vehicles to implement individualized portfolios.
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