South Dakota, perhaps best known for Mt. Rushmore and its beautiful sights, is also home to plenty of successful individuals. If you live in the state of South Dakota and want to set up a great financial plan for yourself (as you likely should), then there are many excellent financial advisors and advisory firms in the state who you can work with. Fortunately, to ease the process of picking one out, we have sorted through them all to find the very best options.
Here are our top five picks for financial advisory firms for South Dakota:
- Your Financial Roadmap Inc.
Your Financial Roadmap Inc. is a revolutionary financial planning company that is attempting to enable people to have more control over their financial planning process. Unlike many other firms that require that you come into an office and have an in-person meeting with a person, Your Financial Roadmap, Inc. offers an online service option.
This service has you fill out a questionnaire, after which you will be given a report with many insights about your finances as well as recommendations for retirement planning, investing, tax mitigation, college funding, etc. This service is ideal for people who would prefer to do as much of the financial planning process as possible by themselves. Your Financial Roadmap, Inc. is not for everyone, but if you’re interested, it’s worthwhile to check them out.
You can expect the following working with Your Financial Roadmap, Inc.:
- Transparent fees
- Insightful analysis of your finances
- Financial planning advice that is in line with your current financial situation, risk tolerance, and financial goals
- New Leaf Financial Guidance
New Leaf Financial Guidance is a fee-only financial planning firm run by Tony Madsen, CFP, that is based in Sioux Falls, South Dakota. When working with New Leaf Financial Guidance, you don’t have to worry about any conflicts of interest.
New Leaf Financial Guidance works with people of all different wealth and income levels. This company offers financial advice regarding cash flow management, debt management, protection planning, retirement planning, taxation, investment planning, education saving, and estate planning. A nice benefit to working with New Leaf Financial Guidance is that they have a money-back guarantee. If you are unsatisfied with them for any reason, you can request a refund at any time.
You can expect the following working with New Leaf Financial Guidance:
- A long-term relationship based on trust
- An investment strategy that relies heavily on fundamentals and avoids attempts to time the market for short-term gains
- Intelligent asset allocation that uses diversification to reduce risk and make the most of market opportunities
- Kahler Financial Group
The Kahler Financial Group is headed by a man named Rick Kahler. Kahler is a Certified Financial Planner (CFP), a chartered financial consultant (ChFC), and a Master of Science in financial planning (MSFP). This company is located in Rapid City. Many of its clients come from the Rapid City area. However, the firm also has clients from all around the country. The firm believes that its purpose is to transform the financial and emotional well-being of people.
If you would like to work with this company, they will give you a free initial consultation and ascertain your current financial situation. Then they will provide you with quotes for your potential plan and answer any questions you might have. Their website has a client portal where you can keep tabs on your portfolio. The firm also offers financial education resources on its website.
You can expect the following working with Kahler Financial Group:
- A fee-only compensation structure
- Comprehensive financial planning based on your goals and risk tolerance
- Additional expertise with insurance services and products
- Prosperity Wealth Management
Prosperity Wealth Management is a financial advisory firm located in Sioux Falls that is headed by Agatha Johnson, CFP, CPWA. Johnson has over twenty years of experience in the financial planning industry. According to Prosperity Wealth Management, there are six foundations of effective financial planning: Purpose, Goals, Analysis, Modeling, Implementation, and Management. The company focuses on these pillars when they are creating your financial plan.
In addition to helping you create a solid investment portfolio, Prosperity Wealth Management will also help you with other key areas of financial planning including budgeting, income management, lifestyle management, and retirement planning.
You can expect the following working with Prosperity Wealth Management:
- A fee-only compensation model
- Advisors with plenty of experience
- Highly customized financial plans that are completely centered around your goals
- New Heights Financial Planning LLC
New Heights Financial Planning LLC is a financial advisory firm that offers a wide variety of financial services which include creating an investment portfolio, retirement planning, student loan management, credit card debt management, and others.
The firm centers its financial plans around twelve-month intervals. It works with both high net worth individuals and with people who have not yet accumulated a substantial net worth. One thing that separates this firm is that they are very tech-savvy and willing to meet with you via video call. They are is headed by Dan Kellermeyer, one of South Dakota’s rising financial planning stars.
You can expect the following working with New Heights Financial Planning:
- A fee-only compensation structure
- A focus on building a long-term relationship with their clients
- Investments that are typically held for at least one year
Now that you know who the best financial advisors are in the state of South Dakota, it should be significantly easier for you to find the perfect advisor for yourself and your family. The sooner that you start working with an excellent financial advisor, the sooner that you can have a great financial plan set up. We wish you the best of luck on your financial journey, wherever it may lead.