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). If you don’t have a financial advisor yet, finding one doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
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We match more than 50,000 people with financial advisors per month. Get connected to an advisor that serves your area today.| Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
|---|---|---|---|---|---|
| 1 | Compass Financial Group, Inc.  Find an Advisor | $995,000,000 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
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| 2 | Elgethun Capital Management  Find an Advisor | $786,613,953 | $1,000,000 |
| Minimum Assets$1,000,000Financial Services
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| 3 | Sage Capital Advisors, LLC  Find an Advisor | $556,117,306 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
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| 4 | Aspen Private Advisors, LLC  Find an Advisor | $152,296,593 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
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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:
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AUMFirms with more total assets under management are ranked higher. -
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Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher. -
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Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher. -
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Age of FirmFirms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. 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. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
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.
Advisors at CFG hold various professional designations: certified financial planner (CFP), chartered financial consultant (ChFC), chartered retirement planning counselor (CRPC), accredited wealth management advisor (AWMA), chartered life underwriter (CLU) and retirement income certified professional (RICP).
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 four 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.
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 selling insurance products to clients of the firm.
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.
Aspen Private Advisors, LLC
Aspen Private Advisors, the fourth 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.
