# Aspen Private Advisors, LLC

> Aspen Private Advisors, LLC is an SEC-registered investment advisory firm in Sioux Falls, SD, registered since 2018, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 26, 2026.

- CRD: 297639
- Filed as: ASPEN PRIVATE ADVISORS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Sioux Falls, SD
- Filing period: October 2026
- Form ADV filing dated: March 26, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/297639
- AdvisorCensus page: https://advisorcensus.com/firm/aspen-private-advisors-llc-sioux-falls-sd-297639

## Quick answers

**How is Aspen Private Advisors, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Aspen Private Advisors, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**How much does Aspen Private Advisors, LLC charge?**
Its Form ADV Part 2A brochure dated March 26, 2026 states: Asset-based fee: up to 1.8% of assets a year (the maximum the brochure states); Flat fee: up to $50,000 (financial planning and consulting services). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Aspen Private Advisors, LLC located?**
Aspen Private Advisors, LLC's principal office is in Sioux Falls, SD, according to its Form ADV.

**Is Aspen Private Advisors, LLC registered with the SEC or a state?**
Aspen Private Advisors, LLC is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 297639.

**How much does Aspen Private Advisors, LLC manage?**
Aspen Private Advisors, LLC reports $199,936,645 in regulatory assets under management in its Form ADV filing dated March 26, 2026 (100% discretionary).

**How have Aspen Private Advisors, LLC's assets and staff changed since 2021?**
In the Form ADV data for Aspen Private Advisors, LLC: Regulatory assets under management: $132,298,137 in the October 2021 data and $199,936,645 in the October 2026 data, up 51%. Total employees: 4 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Aspen Private Advisors, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (64); high net worth individuals (61).

**Which custodians does Aspen Private Advisors, LLC use?**
Aspen Private Advisors, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists LPL Financial LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Aspen Private Advisors, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/297639

**What changed in Aspen Private Advisors, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 4 to 5. Regulatory assets under management went from $176,690,004 to $199,936,645 (+13%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 26, 2026)

- Asset-based fee: up to 1.8% of assets a year (the maximum the brochure states)

> Our Retirement Plan Consulting services are billed on a fee based on the percentage of Plan assets under management. The total estimated fee, as well as the ultimate fee charged, is based on the scope and complexity of our engagement with the client. Fees will not exceed 1.8 %.

- Flat fee: up to $50,000 (financial planning and consulting services)

> Our firm charges on an hourly, flat or recurring fee basis for financial planning and consulting services. ... Flat fees will not exceed $50,000.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- LPL Financial LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $199,936,645
- Discretionary: $199,936,645
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 64 | $24,563,000 |
| High net worth individuals | 61 | $170,322,223 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $3,782,395 |
| Charitable organizations | Fewer than 5 | $1,269,027 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services

### Firm details
- Registered since: 2018 (8 years)
- Employees: 5 total, 5 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: FL, MN, SD, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [aspenpa.com](https://aspenpa.com)
- LinkedIn @cara-beyer-a6770bbb
- LinkedIn @jjsorenson
- LinkedIn @todd-dathe-687a163a

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $132,298,137 | 4 | February 9, 2021 |
| October 2022 | $145,145,021 | 4 | March 1, 2022 |
| October 2023 | $130,380,204 | 4 | March 21, 2023 |
| October 2024 | $152,296,593 | 4 | March 14, 2024 |
| October 2025 | $176,690,004 | 4 | March 20, 2025 |
| October 2026 | $199,936,645 | 5 | March 26, 2026 |

Regulatory assets under management: $132,298,137 in the October 2021 data and $199,936,645 in the October 2026 data, up 51%.
Total employees: 4 in October 2021 and 5 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 4 to 5.
- Regulatory assets under management went from $176,690,004 to $199,936,645 (+13%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Aspen Private Advisors, LLC (CRD 297639): Form ADV filing data as of October 2026.