Aspen Private Advisors, LLC (Sioux Falls)

Name: Aspen Private Advisors, LLC
Address: 5201 South Western Avenue, Sioux Falls, SD, 57108
Telephone: 605-951-9620

Aspen Private Advisors, LLC is a large advisory firm based in Sioux Falls. It manages $106.62 million of regulatory assets for 354 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of South Dakota.

Aspen Private Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Aspen Private Advisors: assets under management

The assets under management (AUM) of Aspen Private Advisors, LLC is $106.62 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -25% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $106.62 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $301.19 thousand each.

Aspen Private Advisors has custody of $1.54 million in cash and securities for 4 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 66% of the total AUM. The second-largest asset type is exchange traded securities, which make up 28% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Aspen Private Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Aspen Private Advisors serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Aspen Private Advisors is high net worth individuals with 22 clients and $70.74 million of assets under management. Among the 9 most similar advisory firms, Aspen Private Advisors has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $104.43 million for 99 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Aspen Private Advisors doesn't advise any private funds.

Careers at Aspen Private Advisors, LLC

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Todd Robert Dathe	Managing member & chief compliance officer	1 Jul 2018	50% - 75%	4200005
Jeremy James Sorenson	Managing member	1 Jul 2018	25% - 50%	4658195

Based in Sioux Falls

The principal office where Aspen Private Advisors, LLC performs its advisory services is located at 5201 South Western Avenue, Sioux Falls, SD 57108, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 605-951-9620. The normal business hours are 9am - 4pm on Monday - Friday. You can find more information about the New York firm at aspenpa.com and its LinkedIn profile.