# Fee-only financial advisors in South Dakota

> AdvisorCensus lists 18 investment advisory firms with a principal office in South Dakota that meet AdvisorCensus's fee-only test: paid only by client fees on Form ADV Item 5.E, with no employee registered with a broker-dealer or licensed as an insurance agent, no brokerage, insurance, or real estate sales business or related company, and no referral fees from others, drawn from Form ADV filings as of October 2026. Firms are listed alphabetically; sort by years registered or assets band using the controls below, and read the methodology block for how this page is derived.

Source: Form ADV filings as of October 2026. Rebuilt monthly. HTML page: https://advisorcensus.com/advisors/sd/fee-only

## At a glance

- Investment advisory firms: 18
- Registration: SEC-registered investment adviser: 4, State-registered investment adviser: 14
- How firms are compensated (Form ADV Item 5.E; shares of the firms that file it): Fee-only (AdvisorCensus test) 18 (100%); Percentage of assets 17 (94%); Hourly charges 7 (39%); Fixed fees 9 (50%)
- Regulatory assets under management (Item 5.F): Under $25 million 8 (44%); $25 million to $100 million 5 (28%); $100 million to $500 million 4 (22%); Not reported 1 (6%)
- Years registered: Under 5 years 5 (28%); 5 to 9 years 8 (44%); 10 to 19 years 3 (17%); 20 years or more 2 (11%)

## Firms (page 1 of 1, 1 to 18 of 18, sorted by name)

| Firm | CRD | City | Registration | Assets band | Years registered | Compensation |
| --- | --- | --- | --- | --- | --- | --- |
| [Adrionic Technologies LLC](https://advisorcensus.com/firm/adrionic-technologies-llc-sioux-falls-sd-312903) ([md](https://advisorcensus.com/firm/adrionic-technologies-llc-sioux-falls-sd-312903.md)) | 312903 | Sioux Falls, SD | State-registered investment adviser | Under $25 million | 5 | % of assets, Fixed fee |
| [Astute Financial, LLC](https://advisorcensus.com/firm/astute-financial-llc-rapid-city-sd-306496) ([md](https://advisorcensus.com/firm/astute-financial-llc-rapid-city-sd-306496.md)) | 306496 | Rapid City, SD | State-registered investment adviser | $25 million to $100 million | 6 | % of assets, Fixed fee |
| [Birch Investment Management, L.L.C.](https://advisorcensus.com/firm/birch-investment-management-l-l-c-brookings-sd-158735) ([md](https://advisorcensus.com/firm/birch-investment-management-l-l-c-brookings-sd-158735.md)) | 158735 | Brookings, SD | State-registered investment adviser | Under $25 million | 15 | % of assets, Fixed fee |
| [Gabe Nelson Financial, Inc.](https://advisorcensus.com/firm/gabe-nelson-financial-inc-sioux-falls-sd-147879) ([md](https://advisorcensus.com/firm/gabe-nelson-financial-inc-sioux-falls-sd-147879.md)) | 147879 | Sioux Falls, SD | State-registered investment adviser | $25 million to $100 million | 18 | % of assets, Hourly |
| [Impact Wealth Management](https://advisorcensus.com/firm/impact-wealth-management-sioux-falls-sd-324168) ([md](https://advisorcensus.com/firm/impact-wealth-management-sioux-falls-sd-324168.md)) | 324168 | Sioux Falls, SD | State-registered investment adviser | $100 million to $500 million | 3 | Hourly, Fixed fee |
| [Iron Mountain Financial Planning](https://advisorcensus.com/firm/iron-mountain-financial-planning-rapid-city-sd-290743) ([md](https://advisorcensus.com/firm/iron-mountain-financial-planning-rapid-city-sd-290743.md)) | 290743 | Rapid City, SD | State-registered investment adviser | $25 million to $100 million | 8 | % of assets, Fixed fee |
| [Lakeport Advisors, LLC](https://advisorcensus.com/firm/lakeport-advisors-llc-342587) ([md](https://advisorcensus.com/firm/lakeport-advisors-llc-342587.md)) | 342587 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 0 | % of assets, Hourly |
| [Lauer Capital Management Ltd](https://advisorcensus.com/firm/lauer-capital-management-ltd-sioux-falls-sd-109660) ([md](https://advisorcensus.com/firm/lauer-capital-management-ltd-sioux-falls-sd-109660.md)) | 109660 | Sioux Falls, SD | SEC-registered investment adviser | $100 million to $500 million | 31 | % of assets, Hourly |
| [Malcolm Capital Management LLC](https://advisorcensus.com/firm/malcolm-capital-management-llc-322512) ([md](https://advisorcensus.com/firm/malcolm-capital-management-llc-322512.md)) | 322512 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 3 | % of assets |
| [Ortman Finances, LLC](https://advisorcensus.com/firm/ortman-finances-llc-canistota-sd-331714) ([md](https://advisorcensus.com/firm/ortman-finances-llc-canistota-sd-331714.md)) | 331714 | Canistota, SD | State-registered investment adviser | Under $25 million | 2 | % of assets, Hourly, Fixed fee |
| [Parvin Asset Management, LLC](https://advisorcensus.com/firm/parvin-asset-management-llc-sioux-falls-sd-315701) ([md](https://advisorcensus.com/firm/parvin-asset-management-llc-sioux-falls-sd-315701.md)) | 315701 | Sioux Falls, SD | SEC-registered investment adviser | $100 million to $500 million | 5 | % of assets |
| [Parvin Fund Management](https://advisorcensus.com/firm/parvin-fund-management-sioux-falls-sd-311304) ([md](https://advisorcensus.com/firm/parvin-fund-management-sioux-falls-sd-311304.md)) | 311304 | Sioux Falls, SD | SEC-registered investment adviser | Under $25 million | 5 | % of assets |
| [Prairie View Wealth Partners LLC](https://advisorcensus.com/firm/prairie-view-wealth-partners-llc-sioux-falls-sd-341361) ([md](https://advisorcensus.com/firm/prairie-view-wealth-partners-llc-sioux-falls-sd-341361.md)) | 341361 | Sioux Falls, SD | SEC-registered investment adviser | $100 million to $500 million | 0 | % of assets |
| [Rock Creek Advisors LLC](https://advisorcensus.com/firm/rock-creek-advisors-llc-rapid-city-sd-291281) ([md](https://advisorcensus.com/firm/rock-creek-advisors-llc-rapid-city-sd-291281.md)) | 291281 | Rapid City, SD | State-registered investment adviser | $25 million to $100 million | 8 | % of assets |
| [Soaring Investment Management, LLC](https://advisorcensus.com/firm/soaring-investment-management-llc-166086) ([md](https://advisorcensus.com/firm/soaring-investment-management-llc-166086.md)) | 166086 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 7 | % of assets, Hourly |
| [Terry Peschl & Associates, Inc.](https://advisorcensus.com/firm/terry-peschl-and-associates-inc-watertown-sd-117524) ([md](https://advisorcensus.com/firm/terry-peschl-and-associates-inc-watertown-sd-117524.md)) | 117524 | Watertown, SD | State-registered investment adviser | Not reported | 39 | % of assets, Fixed fee |
| [Wealthier Way, LLC](https://advisorcensus.com/firm/wealthier-way-llc-304347) ([md](https://advisorcensus.com/firm/wealthier-way-llc-304347.md)) | 304347 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 6 | % of assets, Hourly, Fixed fee |
| [Willkate Wealth Management, LLC](https://advisorcensus.com/firm/willkate-wealth-management-llc-aberdeen-sd-167109) ([md](https://advisorcensus.com/firm/willkate-wealth-management-llc-aberdeen-sd-167109.md)) | 167109 | Aberdeen, SD | State-registered investment adviser | $25 million to $100 million | 13 | % of assets, Fixed fee |

## Questions people ask

**How many financial advisory firms are there in South Dakota?**
AdvisorCensus lists 51 investment advisory firms with a principal office in South Dakota, from Form ADV filings as of October 2026: 14 SEC-registered, 29 state-registered, and 8 exempt reporting advisers. Firms may request removal, so the count can differ slightly from the number of firms that file Form ADV.

**How many fee-only financial advisors are in South Dakota?**
18 of the 51 firms meet AdvisorCensus's fee-only test: paid only by a percentage of assets, hourly charges, fixed fees, or subscription fees on Form ADV Item 5.E (no commissions, performance-based fees, or other compensation), with no sales-related compensation ties in the same filing: no employee registered with a broker-dealer or licensed as an insurance agent (Item 5.B), no brokerage, insurance, real estate, or other product sales business (Item 6.A), no related broker-dealer, insurance company, real estate broker, or futures commission merchant (Item 7.A), and no referral fees from others or other sales interest (Item 8). Form ADV has no fee-only box, so this is derived from the filing; it is not a fee-only certification, and a firm's own page lists its compensation arrangements as filed.

**How many financial advisors in South Dakota offer financial planning?**
33 of the 43 firms in South Dakota that answer Form ADV Item 5.G, which asks what advisory services a firm provides, report financial planning services, as of October 2026. Exempt reporting advisers do not answer Item 5.G. Each firm page lists every advisory service the firm reports.

**Are the financial advisors in South Dakota fiduciaries?**
Every firm on this page is an investment adviser that files Form ADV, and an investment adviser owes its clients a fiduciary duty under federal law, made up of a duty of care and a duty of loyalty: it must act in the client's best interest and not put its own interests ahead of the client's, and must eliminate its conflicts of interest or disclose them fully and fairly. Form ADV has no fiduciary box because the duty comes with being an investment adviser. The duty covers the firm's advice; a firm or its people may also sell securities through a broker-dealer or insurance as licensed agents, roles held to other standards. The 18 firms that meet AdvisorCensus's fee-only test report none of those sales ties.

**How do I check whether a financial advisor has disciplinary disclosures?**
Each firm page shows how many Form ADV Item 11 disciplinary questions the firm answered yes and links to the firm's record on the SEC's Investment Adviser Public Disclosure site (adviserinfo.sec.gov), where the detail of each disclosure is public. Individual advisers' records are on the same site and on FINRA BrokerCheck.

**Does AdvisorCensus rate, verify, or recommend these firms?**
No. The directory shows what each firm filed, in alphabetical order unless you choose another sort, and no firm's position depends on payment. Firms that claim their page can add a description and links, marked as provided by the firm; the filed facts are never changed by that content.

**What does regulatory assets under management mean?**
Regulatory assets under management (RAUM) is the figure a firm reports on Form ADV Item 5.F: the securities portfolios it provides continuous and regular supervisory or management services for, at market value, including assets managed without discretion. It measures scale, not performance or quality.

## Related pages

- [Financial advisors in South Dakota](https://advisorcensus.com/advisors/sd) (https://advisorcensus.com/advisors/sd.md)
- [Flat-fee financial advisors in South Dakota](https://advisorcensus.com/advisors/sd/flat-fee) (https://advisorcensus.com/advisors/sd/flat-fee.md)
- [Hourly financial advisors in South Dakota](https://advisorcensus.com/advisors/sd/hourly) (https://advisorcensus.com/advisors/sd/hourly.md)
- [Fee-only financial advisors in Sioux Falls, SD](https://advisorcensus.com/advisors/sd/sioux-falls/fee-only) (https://advisorcensus.com/advisors/sd/sioux-falls/fee-only.md)
- [Fee-only financial advisors in Rapid City, SD](https://advisorcensus.com/advisors/sd/rapid-city/fee-only) (https://advisorcensus.com/advisors/sd/rapid-city/fee-only.md)

Cite as: AdvisorCensus. Fee-only financial advisors in South Dakota: 18 firms from Form ADV filings as of October 2026.