Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right
Loading
Tap on the profile icon to edit
your financial details.

Top Financial Advisors in Sioux Falls, SD

Your Details Done
by Updated

This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Finding a Top Financial Advisor Firm in Sioux Falls, SD

In Sioux Falls, you have many options for financial advisor firms. To help you narrow the field, SmartAsset did a deep dive into the data to identify the top firms in the city. Our list covers their advisory services, fee structure, investment strategies and assets under management (AUM). To further your search, use our free financial advisor matching service. You’ll simply complete a short questionnaire about your financial situation, and the tool connects you with up to three advisors who serve your area.

Find a Fiduciary Financial Advisor

We match more than 50,000 people with financial advisors per month. Get connected to an advisor that serves your area today.
Free inital consultations. All advisors are fiduciaries.

Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Compass Financial Group, Inc. Compass Financial Group, Inc. logo Find an Advisor

Read Review

$760,000,000 No set account minimum
  • Portfolio management
  • Financial planning
  • Pension consulting
  • Educational seminars/workshops

Minimum Assets

No set account minimum

Financial Services

  • Portfolio management
  • Financial planning
  • Pension consulting
  • Educational seminars/workshops
2 Elgethun Capital Management Elgethun Capital Management logo Find an Advisor

Read Review

$532,447,906 $1,000,000
  • Portfolio management
  • Financial planning
  • Pension consulting
  • Publication of periodicals or newsletters

Minimum Assets

$1,000,000

Financial Services

  • Portfolio management
  • Financial planning
  • Pension consulting
  • Publication of periodicals or newsletters
3 Sage Capital Advisors, LLC Sage Capital Advisors, LLC logo Find an Advisor

Read Review

$401,303,561 No set account minimum
  • Portfolio management
  • Financial planning
  • Pension consulting
  • Selection of other advisors (including private fund managers)
  • Publication of periodicals or newsletters
  • Educational seminars/workshops

Minimum Assets

No set account minimum

Financial Services

  • Portfolio management
  • Financial planning
  • Pension consulting
  • Selection of other advisors (including private fund managers)
  • Publication of periodicals or newsletters
  • Educational seminars/workshops

Let us help match you with the right financial advisor for your needs.

Answer a few questions to get a personalized match.
Get started
4 Professional Financial Services, Inc. Professional Financial Services, Inc. logo Find an Advisor

Read Review

$190,448,052 No set account minimum
  • Portfolio management
  • Financial planning
  • Pension consulting

Minimum Assets

No set account minimum

Financial Services

  • Portfolio management
  • Financial planning
  • Pension consulting
5 Aspen Private Advisors, LLC Aspen Private Advisors, LLC logo Find an Advisor

Read Review

$145,145,021 No set account minimum
  • Portfolio management
  • Financial planning
  • Pension consulting

Minimum Assets

No set account minimum

Financial Services

  • Portfolio management
  • Financial planning
  • Pension consulting

What We Use in Our Methodology

To find the top financial advisors in Sioux Falls, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.

All information is accurate as of the writing of this article. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria.

Compass Financial Group, Inc.

Not only does Compass Financial Group (CFG) top our list of the best financial advisory firms in Sioux Falls, but it's also the No. 1 firm in the state of South Dakota. With no account minimum, a majority of CFG clients are non-high-net-worth individuals. However, the firm  also works with high-net-worth individuals and corporations. 

Three advisors at CFG are all certified financial planners (CFPs) and chartered financial consultants (ChFCs). These advisors also hold a combination of various other certifications, including the chartered retirement planning counselor (CRPC), accredited wealth management advisor (AWMA), chartered life underwriter (CLU) and retirement income certified professional (RICP) designations. 

CFG charges asset-based fees for advisory services. Advisors may also receive sales commissions from third parties for insurance products. This can potentially pose a conflict of interest, but as an SEC-registered firm, CFG is legally required to put clients' interests first.

Compass Financial Group Background

CFG is an independent and family-owned business founded in 2011. John Haller, Jesse Haller and Jasen Haller all own a portfion of the business. While John Haller owns a 34% stake, Jesse and Jasen Haller each own 33% of the firm.

CFG's services encompass investment management, financial planning and pension consulting. 

Compass Financial Group Investment Strategy

Compass Financial says on its website that it strives to form long-term relationships with each of its clients. Advisors use portfolio diversification to meet short- and long-term client needs, and the firm generally invests in mutual funds, exchange-traded funds (ETFs), individual stocks or bonds and other securities. 

 

Elgethun Capital Management

Elgethun Capital Management (ECM), which is also ranked among the top advisors in the state, is the sole fee-only firm on this list.

ECM offers a range of advisory services to non-high-net-worth and high-net-worth individuals, banks and thrift institutions, pension and profit sharing plans, investment companies, trusts, estates, charitable organizations, corporations, endowments and pooled investment vehicles. The firm’s minimum account size requirement is $1 million. 

The firm has three chartered financial analysts (CFAs) on staff. As a fee-only firm, ECM's revenue comes solely from the fees that clients pay for advisory services. These fees are either based on a percentage of assets under management or charged at a fixed or hourly rate. ECM advisors do not earn commissions for selling third-party products or services. 

Elgethun Capital Management Background

Founded by Terry Elgethun in 2003, John Barker partnered with Elgethun in 2011 and purchased the company in 2012. The firm specializes in portfolio management, financial planning and pension consulting services. 

The firm’s investment services feature other areas of wealth management, including: 

  • Estate planning
  • Tax and charitable giving strategy
  • Private placement source and review
  • Portfolio lending

Elgethun Capital Management Investment Strategy

ECM explains on its website that its goal is to compound capital in a tax-efficient, patient manner. The firm’s investment strategies include long- and short-term purchases, margin transactions, option writing, tactical asset allocation and strategic asset allocation. Advisors also use fundamental analysis to evaluate securities. 

N

Sage Capital Advisors, LLC

Sage Capital Advisors is also among the top-rated advisory firms in Sioux Falls and the state as a whole. The firm’s fee structure is fee-based, as some staff members may receives sales commissions for recommending insurance.

Sage Capital’s advisors serve both non-high-net-worth and high-net-worth individuals,  as well as pension and profit-sharing plans, non-profit corporations and other financial service firms. 

Sage Capital’s professionals offer different backgrounds, with some advisors having earned the chartered financial analyst (CFA) designation. The firm is compensated through asset-based, hourly charges and flat fees. It does not have a set account minimum.

Sage Capital Advisors Background 

Sage Capital began operations in 2005 under the ownership of Matthew Johnson and Diana Blair, who remain its owners. The firm primarily provides investment management, financial planning, pension consulting and advisor referral services. 

Clients receiving financial planning guidance also have access to various other areas of wealth management, including:

  • Retirement
  • Cash flow and expenses
  • Income taxes
  • Fringe benefits
  • Educational funding
  • Estate planning

Sage Capital Advisors Investment Strategy

Sage Capital generally invests client assets in equities, fixed income instruments, mutual funds, money market funds and real estate limited partnerships. When making investment decisions, advisors apply fundamental analysis and technical analysis. Macroeconomic factors also influence the firm’s investment advice. The firm uses in-house valuation and third-party reporting.

Professional Financial Services, Inc.

Professional Financial Services is the fourth-rated firm in Sioux Falls. The fee-based practice serves individual clients, many of whom do not have high net worths. Professional Financial Services charges its clients asset-based, hourly and fixed fees. 

The firm's small team of advisors features two certified financial planners (CFPs). They're also both insurance agents, which means they earn sales commissions. These non-advisor roles can be confusing, as they are not bound by a fiduciary duty. When receiving a recommendation, clients should make sure they understand what it is based on and how their advisor/insurance agent may benefit. However, when serving as your investment advisor, they must act in your best interest. 

Professional Financial Services Background

Owned by Kameron J. Carlson and Nancy A. Carlson, Professional Financial Services formed in 1992. The firm became an investment advisor in 2015, offering portfolio management, financial planning and consulting and pension consulting services. Its pension consulting services include asset allocation and portfolio construction, investment option identification and investment monitoring. 

Clients under the firm’s financial planning services can receive advice on estate planning, insurance, education planning, real estate and personal financial planning.

Professional Financial Services Investment Strategy

Professional Financial’s advisors typically utilize long- and short-term purchases, trading, margin transactions and option writing. Advisors also implement fundamental, technical and charting analysis. The practice typically builds client portfolios using stocks, bonds, ETFs, options, mutual funds and public and private securities.

Aspen Private Advisors, LLC

Aspen Private Advisors, the fifth and final practice on our list, is a fee-based firm serving individual clients above and below the high-net-worth threshold. The firm also works with trusts, estates, charitable organizations, pension and profit-sharing plans, corporations and other business types. 

The firm's advisors are also licensed insurance agents who can earn commissions when recommending certain services. This makes Aspen a fee-based firm. Commissions can create an incentive for advisors to favor certain products over client needs, but as an SEC-registered firm, Aspen is legally required to put clients' interests first

Aspen doesn’t have a set account minimum, and the firm receives compensation through asset-based fees, hourly charges, fixed fees and commissions. 

Aspen Private Advisors Background

Aspen was formed in 2015, but the firm became an investment advisor in 2018. The firm’s owners are Todd Dathe and Jeremy Sorenson.

Its main services include portfolio management, financial planning, consulting and pension consulting. The firm’s investment management is provided through a wrap fee program, which combines advisory and brokerage fees. Outside of its wrap program, Aspen will manage only assets in retirement accounts. Financial planning services encompass retirement planning, real estate analysis, estate planning, charitable planning, insurance analysis and education planning. 

Aspen Private Advisors Investment Strategy

Aspen says on its website that it values having a limited number of individual and significant client relationships because it allows advisors to deliver thoughtful and responsive services. The firm's advisors generally take a long-term approach to investing, and the firm employs fundamental, cyclical and technical methods of analysis when studying securities. 

Aspen uses asset allocation to enhance investment return rates. The firm generally invests in stocks, bonds, cash equivalents, commodities, real estate, derivatives, insurance products, foreign currency, venture capital and private equity.

How Long $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.