Big Sioux Financial provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, and educational seminars. Financial planning was provided to 251–500 clients last fiscal year.
Big Sioux Financial reports 868 clients. They include 597 individual clients, 246 high-net-worth individuals and 15 charitable organizations. Of its assets, 97.0% ($228M across 1,930 accounts) are managed with discretion; $7.01M across 27 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 69% | 26% |
| High-net-worth individuals | 28% | 71% |
| Charitable organizations | 2% | <1% |
| Corporations and other businesses | 1% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 597 | $61.1M | 26.0% | $102K |
| High-net-worth individuals | 246 | $168M | 71.4% | $683K |
| Charitable organizations | 15 | $2M | 0.9% | $133K |
| Corporations and other businesses | 10 | $4.16M | 1.8% | $416K |
| Total | 868 | $235M | 100% | $271K |
- Clients
- 597
- Regulatory AUM
- $61.1M
- AUM share
- 26.0%
- Avg. per client
- $102K
- Clients
- 246
- Regulatory AUM
- $168M
- AUM share
- 71.4%
- Avg. per client
- $683K
- Clients
- 15
- Regulatory AUM
- $2M
- AUM share
- 0.9%
- Avg. per client
- $133K
- Clients
- 10
- Regulatory AUM
- $4.16M
- AUM share
- 1.8%
- Avg. per client
- $416K
Total
- Clients
- 868
- Regulatory AUM
- $235M
- AUM share
- 100%
- Avg. per client
- $271K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Big Sioux Financial is paid through a percentage of assets under management and hourly charges. The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- ERISA Plan Services
- Annual fee on the market value of plan Included Assets, not to exceed 1%, negotiable and charged as a percentage or flat fee.
- Hourly Financial Planning and Consulting
- Financial planning and consulting are offered on an hourly fee of $250 per hour; an estimated plan fee is provided before planning begins.
David Johnson owns 25% to 50% of Big Sioux Financial. The leadership team of Big Sioux Financial includes President Dustin Padgett and Chief Compliance Officer Connie Streff. It has 7 employees, 5 of them in advisory roles.
Leadership
Dustin PadgettDivision President
Connie StreffChief Compliance Officer- Janet JohnsonCo-Owner
- Reid JohnsonCo-Owner
- Ethan JohnsonCo-Owner
- David JohnsonCo-Owner
Investment adviser representatives
5 representatives listed in the SEC register as of 9 October 2026.
Staff
- 7 employees
- 5 in advisory functions
- 5 state-registered reps
- 1 broker-dealer rep
- 2 insurance agents
- Owns 25% to 50% of Big Sioux Financial, Inc.
David Johnson
Control person · since August 1988
- Owns 10% to 25% of Big Sioux Financial, Inc.
Janet Johnson
since August 1988
- Owns 10% to 25% of Big Sioux Financial, Inc.
Ethan Johnson
since May 1990
- Owns 10% to 25% of Big Sioux Financial, Inc.
Reid Johnson
since August 1988
Big Sioux Financial’s regulatory assets grew 1.8× from $132M (March 2021) to $235M (February 2026); clients were 868 in both filings and employees rose from 2 to 7.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $235M | 868 | 7 | 2 |
| April 2025 | $201M | 1,169 | 6 | 2 |
| January 2024 | $188M | 1,363 | 3 | 2 |
| January 2023 | $176M | 1,321 | 2 | 2 |
| February 2022 | $165M | 1,009 | 2 | 2 |
| March 2021 | $132M | 833 | 2 | 2 |
Besides its headquarters, Big Sioux Financial has 1 office, with 2 listed addresses in South Dakota.
South Dakota · 2 listed addresses
- 1401 4th St Ne, WatertownHQ
- 608 W 86th St., Sioux Falls
Contact and registration details
- Legal name
- Big Sioux Financial, Inc.
- Headquarters
- 1401 4th St Ne, Watertown, SD 57201
- Website
- bigsiouxwealth.com
- Phone
- 605-882-4280
- SEC file
- 801-118350
- Structure
- South Dakota corporation
- Fiscal year end
- December
Big Sioux Financial uses Charles Schwab ($227M) as custodian for its separately managed accounts. Big Sioux Financial does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $227M100%
At year end, Big Sioux Financial’s separately managed accounts were mostly in stocks (67%) and funds (26%).
What the accounts hold
- Stocks67%
- Funds26%
- Bonds1%
- Cash6%
How many clients does Big Sioux Financial have?
Big Sioux Financial has 868 clients and manages $235 million for them, as of February 2026. They include 597 individual clients, 246 high-net-worth individuals and 15 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 February 2026
What services does Big Sioux Financial offer?
Big Sioux Financial provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Big Sioux Financial use?
Big Sioux Financial’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $227M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 February 2026
How many financial advisors does Big Sioux Financial have?
Big Sioux Financial has 5 investment adviser representatives registered with state securities authorities, out of 7 employees, and 5 perform investment advisory functions. 1 employee is a registered representative of a broker-dealer and 2 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Big Sioux Financial invest in?
At the end of its last fiscal year, Big Sioux Financial’s separately managed accounts held 67% exchange-traded equities, 26% registered funds (mutual funds, ETFs, BDCs), 6% cash and equivalents and 1% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Big Sioux Financial?
Big Sioux Financial’s direct owners are David Johnson, Janet Johnson, Ethan Johnson and Reid Johnson, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 27 February 2026
How does Big Sioux Financial get paid?
Big Sioux Financial is paid through a percentage of assets under management and hourly charges. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Big Sioux Financial?
Big Sioux Financial’s main office is at 1401 4th St Ne, Watertown, SD 57201. Its phone number is 605-882-4280. Its website is bigsiouxwealth.com.