Loft Advisors
Loft Advisors is a private banking, wealth management, and trust division of First Dakota National Bank, serving high-net-worth individuals, entrepreneurs, and estate clients in the Midwest with an integrated suite of banking, investment, and fiduciary services.
- Company typePrivate
- Founded2013
- HeadquartersSioux Falls, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Loft Advisors does
Loft Advisors is the private banking and wealth management division of First Dakota National Bank, headquartered in Sioux Falls, South Dakota. The firm delivers an integrated suite of services to high-net-worth individuals, entrepreneurs, and trust/estate clients across the Midwest, organized into three core product lines: Private Banking (credit solutions, deposit services, the Professional Real Estate Loan Program, cash management, and fraud-protection tools such as Positive Pay and ACH Filters), Private Wealth (investment management and financial planning delivered through a partnership with Raymond James Financial Services), and Trust (estate and trust administration, fiduciary, and executor services). Advisors are positioned as consultants providing personalized strategies across wealth, investment, tax, retirement, and philanthropic planning.
The technology stack is conventional rather than differentiated: a Loft-branded mobile banking app for iOS and Android with Face ID and fingerprint biometric login, real-time account alerts, transaction monitoring, and secure advisor messaging. The platform integrates with Raymond James for brokerage account access and uses third-party cash management and trust portals. Revenue is generated through a mix of recurring AUM-based advisory fees (charged quarterly as a percentage of assets under management), securities transaction commissions via Raymond James, private banking net interest income on deposits and credit, and trust administration fees. Pricing is not publicly disclosed and is detailed in the firm's Form ADV and client agreements.
The firm operated as part of First Dakota National Bank — the first fully chartered bank in Dakota Territory (1872) — and was established as a dedicated division in 2013 when the Quello father-son advisory team joined. As of March 2025, Loft Private Wealth managed more than $1 billion in client assets. Distribution is relationship-driven, relying on community involvement, professional referrals, and sustained third-party advisor rankings (notably Nathan Quello's 10 consecutive years on Barron's Top 1,200 Financial Advisors, 2016–2025) rather than digital or enterprise sales channels.
Loft Advisors firmographics
Firmographics- Name
- Loft Advisors
- Legal name
- Loft Advisors
- Website
- https://loftadvisors.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Loft Advisors is a private banking, wealth management, and trust division of First Dakota National Bank, serving high-net-worth individuals, entrepreneurs, and estate clients in the Midwest with an integrated suite of banking, investment, and fiduciary services.
- Ownership category
- akta.pro rank
Loft Advisors industry classification
Industry- Product category
- Private Banking and Wealth Management
- NAICS
- Portfolio Management and Investment Advice (523940), Depository Credit Intermediation (5221)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Private Banking & UHNW Wealth Advisory (FSAEABAC)
- akta.pro secondary industry
- Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)
Keywords
Where Loft Advisors is headquartered
LocationHeadquarters
- HQ city
- Sioux Falls
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Loft Advisors business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Financial Advisory and Wealth Management Fees: Fee-based advisory services where clients pay quarterly fees based on assets under management for financial advisor services as part of an advisory relationship.
- Securities Transactions: Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Revenue includes advisory fees and commissions from investment products.
- Private Banking Services: Credit solutions, deposit services, and loan programs for high-net-worth clients including secured/unsecured credit, lines of credit, and specialized loan programs.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Loft Advisors product offering
Product offeringCore offering
Loft Advisors provides an integrated private banking, wealth management, and trust administration platform for high-net-worth individuals and families. The firm delivers personalized financial planning, investment management through Raymond James, private credit and deposit solutions, and estate and trust services under one roof. It operates as a division of First Dakota National Bank, leveraging institutional banking infrastructure alongside advisor-led relationship management.
Product overview
Loft Advisors operates as a unified private banking and wealth management platform offering elevated financial services for high-net-worth individuals. The core offerings span three main divisions: Private Banking (providing credit, deposit, and loan solutions for enhanced banking needs), Private Wealth (investment management and financial planning through Raymond James), and Trust (estate and trust administration services). The platform also includes the Loft App as a mobile banking submodule, the Professional Real Estate Loan Program for specialized mortgage financing, and additional services including Cash Management and Positive Pay and ACH Filters for fraud protection. The company is a division of First Dakota National Bank.
Differentiator
Problem solved
Functional benefit
Products and services
- Private Banking Elevated banking services for entrepreneurs and high-net-worth individuals, offering personalized financial strategies, credit solutions, deposit solutions, and loan programs tailored to unique personal and financial goals.
- Private Wealth Full-service financial planning and investment management through Raymond James advisors, specializing in tailored investment strategies to help clients achieve long-term financial goals.
- Trust Services Estate and trust administration services including professional investment management of trust assets, tax-efficient wealth transfers, and executor/trustee services to help build, preserve, and share wealth legacies.
- Professional Real Estate Loan Program Specialized mortgage financing for medical professionals and eligible professional clients, offering adjustable rate products with minimum loan amounts of $300,000 up to $1,000,000 and 15 or 30-year terms.
- Loft App Mobile banking application for iOS and Android devices providing 24/7 account access, Face ID and fingerprint login, transaction monitoring, personalized alerts, and secure communication with advisors.
- Credit Solutions Strategic credit resources including secured and unsecured options, Loft credit card, lines of credit, term financing, and variable/fixed interest rates for risk management, asset protection, and portfolio diversification.
- Deposit Solutions Premium deposit services featuring Loft Checkcard, free checks, free ATM usage including non-MoneyPass network ATMs, increased withdrawal limits, premium interest rates, and exclusive social events and travel opportunities.
- Cash Management Treasury and cash management services for personal and business banking needs, ensuring clients have appropriate resources and solutions for their financial operations.
- Positive Pay and ACH Filters Business fraud protection services that help identify potentially fraudulent activities by flagging suspicious transactions, adding an extra layer of security for business accounts.
Quantifiable outcome
- $1 billion in client assets managed by Loft Private Wealth
- +1 more outcomes
Companies that use Loft Advisors
Customer profileSegments3 records
Ideal customer profiles3 records
Loft Advisors technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Loft Advisors partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Raymond James Financial ServicescoreLoft Advisors provides securities through Raymond James Financial Services, Inc., member FINRA/SIPC. The partnership enables delivery of investment advisory services and securities products to clients. Advisors operate under Raymond James regulatory infrastructure while maintaining the Loft Advisors brand and client relationships.
- First Dakota National BankcoreLoft Advisors is a division of First Dakota National Bank, the first fully chartered bank in Dakota Territory established in 1872. First Dakota provides the banking infrastructure, regulatory framework, and institutional backing while Loft operates as the private banking and wealth management division.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
Loft Advisors competitors and assessment
Company assessmentDirect peers
- Mariner Wealth Advisors: Large independent RIA offering wealth advisory, financial planning, and family office services to HNW clients. Comparable as a fee-based advisory platform of similar client focus, although significantly larger in scale than Loft.
- Hightower Advisors: National RIA and wealth management platform serving HNW individuals and families. Comparable to Loft as a fee-based advisory practice delivering financial planning and investment management to HNW households.
- Carson Group: Wealth management firm that supports affiliated advisors serving HNW clients with financial planning and investment solutions. Comparable partner-firm structure and HNW focus align with Loft's Raymond James-affiliated model.
- Moneta Group: Independent RIA providing fee-only wealth advisory, financial planning, and family office services to HNW families. Closely comparable in service model and HNW client focus, with deeper scale.
- Greenleaf Trust: Michigan-based private bank and wealth management firm offering banking, investment management, and trust services to HNW clients. Closely aligned with Loft's integrated banking/wealth/trust model and HNW positioning.
- Argent Financial Group: Independent wealth and trust services firm serving HNW individuals, families, and institutions. Comparable in offering wealth management, trust administration, and estate planning across a regional footprint.
- First Western Financial: Public company offering private banking, wealth planning, and investment management to HNW clients in select markets. Comparable integrated service model and HNW target, but operating at greater scale and geographic breadth.
Regional players
- First National Bank of Omaha Private Banking: Midwest community bank parent operating a private banking division offering credit, deposits, and wealth advisory to HNW households. Comparable in parent-bank + private banking structure, with a broader multi-state footprint than Loft.
Broad incumbents
- Wells Fargo Private Bank: National private bank offering banking, lending, investment management, and trust services to UHNW clients. Provides the scaled competitive backdrop against which regional players like Loft compete for HNW households.
- U.S. Bank Private Client Reserve: National bank's private banking and wealth management division serving affluent households across the Midwest and nationally. Directly competes for the same HNW clients in the broader regional market as Loft.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Loft Advisors social profiles
Digital presenceLoft Advisors financial estimates
Financial estimateRevenue estimate
Valuation estimate
Loft Advisors leadership team
Management profileNumber of profiles
Profiles21 records
Loft Advisors funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Loft Advisors M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Loft Advisors
What does Loft Advisors do?
Loft Advisors provides an integrated private banking, wealth management, and trust administration platform for high-net-worth individuals and families. The firm delivers personalized financial planning, investment management through Raymond James, private credit and deposit solutions, and estate and trust services under one roof. It operates as a division of First Dakota National Bank, leveraging institutional banking infrastructure alongside advisor-led relationship management.
Is Loft Advisors a public or private company?
Loft Advisors is a private company. It is classified as corporate owned and is currently operating.
When was Loft Advisors founded?
Loft Advisors was founded in 2013. It employs 11 to 50 people.
Where is Loft Advisors based?
Loft Advisors is headquartered in Sioux Falls, United States, in the North America region.
How does Loft Advisors make money?
Three revenue lines are on record. Financial Advisory and Wealth Management Fees are the primary driver. The others are securities Transactions and private Banking Services.
Who are Loft Advisors's main competitors?
Direct peers on record are Mariner Wealth Advisors, Hightower Advisors, Carson Group, Moneta Group, Greenleaf Trust, Argent Financial Group and First Western Financial. First National Bank of Omaha Private Banking is listed as a regional player. Broad incumbents are Wells Fargo Private Bank and U.S. Bank Private Client Reserve.
Does Loft Advisors have an API?
No public API is recorded for Loft Advisors.
What industry is Loft Advisors in?
Loft Advisors's product category is Private Banking and Wealth Management. Its primary akta.pro industry code is FSAEABAC, Private Banking & UHNW Wealth Advisory, with a secondary code of FSAAABAD, Advisory Portfolio Management (Non-Discretionary). Its NAICS code is 523940 and its SIC code is 6282.