{
  "crd_number": 308215,
  "slug": "great-waters-financial-shoreview-mn-308215",
  "primary_business_name": "GREAT WATERS FINANCIAL",
  "legal_name": "GREAT WATERS WEALTH MANAGEMENT",
  "dbas": [],
  "city": "Shoreview",
  "state": "MN",
  "country": "United States",
  "cbsa_code": "33460",
  "metro": {
    "cbsa_code": "33460",
    "common_name": "Minneapolis",
    "msa_name": "Minneapolis-St. Paul-Bloomington, MN-WI",
    "path": "/advisors/mn/minneapolis"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2022-03-28",
  "years_registered": 4,
  "period": "2026-10-01",
  "filing_date": "2026-04-07",
  "carried_forward": false,
  "raum_total": 1235101181.0,
  "raum_discretionary": 1235101181.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 42,
  "advisory_employees": 23,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 626249.0,
      "count": null,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 460353678.0,
      "count": 1244
    },
    "high_net_worth_individuals": {
      "raum": 773967567.0,
      "count": 383
    },
    "corporations_other_businesses": {
      "raum": 153687.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "educational_seminars",
    "financial_planning",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "CA",
    "FL",
    "GA",
    "IL",
    "MN",
    "NE",
    "SD",
    "TX",
    "WI"
  ],
  "websites": [
    "https://facebook.com/TheGWF",
    "https://greatwatersfinancial.com",
    "https://instagram.com/greatwatersfinancial",
    "https://linkedin.com/company/great-waters-financial",
    "https://youtube.com/guardianretirement"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/308215",
  "city_as_filed": "SHOREVIEW",
  "url": "https://advisorcensus.com/firm/great-waters-financial-shoreview-mn-308215",
  "display_name": "Great Waters Financial",
  "summary": "Great Waters Financial is an SEC-registered investment advisory firm in Shoreview, MN, registered since 2022, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated April 7, 2026.",
  "citation": "AdvisorCensus. Great Waters Financial (CRD 308215): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Selection of other advisers (including private fund managers)",
    "Educational seminars/workshops"
  ],
  "quick_answers": [
    {
      "q": "How is Great Waters Financial compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Great Waters Financial reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees)."
    },
    {
      "q": "How much does Great Waters Financial charge?",
      "a": "Its Form ADV Part 2A brochure dated February 14, 2026 states: Flat fee: $2,000 to $4,500 (financial planning and/or consulting services…); Hourly rate: $150 to $350 an hour (financial planning and/or consulting services…). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Great Waters Financial located?",
      "a": "Great Waters Financial's principal office is in Shoreview, MN, according to its Form ADV; the May 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Great Waters Financial registered with the SEC or a state?",
      "a": "Great Waters Financial is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 308215."
    },
    {
      "q": "How much does Great Waters Financial manage?",
      "a": "Great Waters Financial reports $1,235,101,181 in regulatory assets under management in its Form ADV filing dated April 7, 2026 (100% discretionary)."
    },
    {
      "q": "How have Great Waters Financial's assets and staff changed since 2022?",
      "a": "In the Form ADV data for Great Waters Financial: Regulatory assets under management: $978,503,713 in the October 2022 data and $1,235,101,181 in the October 2026 data, up 26%. Total employees: 44 in October 2022 and 42 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Great Waters Financial serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,244); high net worth individuals (383)."
    },
    {
      "q": "Which custodians does Great Waters Financial use?",
      "a": "Great Waters Financial's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Great Waters Financial report any disciplinary disclosures?",
      "a": "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/308215"
    },
    {
      "q": "What changed in Great Waters Financial's recent Form ADV filings?",
      "a": "In the May 2026 filing data: Registered or notice-filed in IL."
    }
  ],
  "filing_history": [
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 978503713.0,
      "total_employees": 44,
      "filing_date": "2022-07-07"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 957609573.0,
      "total_employees": 40,
      "filing_date": "2023-09-25"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1017194635.0,
      "total_employees": 42,
      "filing_date": "2024-07-26"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1183117490.0,
      "total_employees": 42,
      "filing_date": "2025-05-23"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1235101181.0,
      "total_employees": 42,
      "filing_date": "2026-04-07"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-05-01",
      "period_label": "May 2026",
      "notes": [
        "Registered or notice-filed in IL."
      ]
    },
    {
      "period": "2026-03-01",
      "period_label": "March 2026",
      "notes": [
        "Employees performing advisory functions went from 25 to 23.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "No longer registered or notice-filed in IL."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Registered or notice-filed in GA."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated February 14, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [
      "Flat fee: $2,000 to $4,500 (financial planning and/or consulting services…)",
      "Hourly rate: $150 to $350 an hour (financial planning and/or consulting services…)"
    ],
    "figures": [
      {
        "label": "Planning fee",
        "statements": [
          "Flat fee: $2,000 to $4,500 (financial planning and/or consulting services…)"
        ],
        "quotes": [
          "Registrant’s planning and consulting fees are negotiable, but generally range from $2,000 to $4,500 on a fixed fee basis, and from $150 to $350 on an hourly rate basis, depending upon the level and scope of the service(s) required and the professional(s) rendering the service(s)."
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Hourly rate: $150 to $350 an hour (financial planning and/or consulting services…)"
        ],
        "quotes": [
          "Registrant’s planning and consulting fees are negotiable, but generally range from $2,000 to $4,500 on a fixed fee basis, and from $150 to $350 on an hourly rate basis, depending upon the level and scope of the service(s) required and the professional(s) rendering the service(s)."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": [
        {
          "kind": "flat",
          "amount": null,
          "min": 2000.0,
          "max": 4500.0,
          "period": "one_time",
          "service": "financial planning and/or consulting services (including investment and non-investment related matters, including estate"
        },
        {
          "kind": "hourly",
          "amount": null,
          "min": 150.0,
          "max": 350.0,
          "period": "hour",
          "service": "financial planning and/or consulting services (including investment and non-investment related matters, including estate"
        }
      ]
    },
    "quotes": [
      "Registrant’s planning and consulting fees are negotiable, but generally range from $2,000 to $4,500 on a fixed fee basis, and from $150 to $350 on an hourly rate basis, depending upon the level and scope of the service(s) required and the professional(s) rendering the service(s).",
      "Registrant’s planning and consulting fees are negotiable, but generally range from $2,000 to $4,500 on a fixed fee basis, and from $150 to $350 on an hourly rate basis, depending upon the level and scope of the service(s) required and the professional(s) rendering the service(s)."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/great-waters-financial-shoreview-mn-308215.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 1244,
      "fewer_than_5": false,
      "raum": 460353678.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 383,
      "fewer_than_5": false,
      "raum": 773967567.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": null,
      "fewer_than_5": true,
      "raum": 626249.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": null,
      "fewer_than_5": true,
      "raum": 153687.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/308215",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}