Best Financial Advisors in Rapid City

Find top-rated local financial advisors who can help you achieve your financial goals with personalized strategies and expert guidance.

Find an Advisor Estimated Advisor Fees
70+
Advisors
4.9/5.0
Average Rating

Rapid City Financial Landscape

The economy of Rapid City is diverse, with a focus on tourism, healthcare, and manufacturing. Recent growth trends indicate a steady increase in job opportunities and population.

Major industries
Tourism, Healthcare, Manufacturing
Population
70.8K (metro: 70.8K)
Median household income
$56,000
Unique needs
Rapid City requires attention to tourism sustainability and healthcare accessibility.
Market Insights
Economic Growth
According to BEA (2023), Rapid City's economy has seen a 3% growth rate, driven by tourism and healthcare sectors.
Wealth Demographics
According to Census (2023), the median household income in Rapid City is approximately $56,000, reflecting a stable economic environment.
Advisor Specializations
Based on BLS (2023), financial advisors in Rapid City are increasingly focusing on retirement planning and investment strategies.
Local Considerations
Cost of Living
According to BLS (2024), the cost of living in Rapid City is 10% lower than the national average, making it an attractive place to live.
Real Estate Market
According to Zillow (2024), home prices in Rapid City have increased by 8% over the last year, raising concerns about affordability.
Business Environment
According to Fortune (2024), Rapid City has a favorable business climate with incentives for small businesses and startups.

Top 5 Financial Advisors in Rapid City

Applied Financial Wisdom
★ ★ ★ ★ ★ 5
Summit Wealth Group
★ ★ ★ ★ ★ 5
Northwestern Mutual - Rapid City
★ ★ ★ ★ ★ 5
David Hillard - RBC Wealth Management Branch Director
★ ★ ★ ★ ★ 5
Edward Jones - Financial Advisor: Kandyce S Meinhardt, AAMS®
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Rapid City, consider these essential factors

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Fiduciary Standard
Prioritize advisors who commit to acting as fiduciaries 100% of the time, legally obligating them to put your interests first.
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Rapid City-Specific Expertise
For Rapid City residents working in Tourism, Healthcare, Manufacturing, consider advisors with specific experience in your industry's unique compensation and benefit structures.
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Fee Structure Transparency
Understand how your advisor is compensated—whether through fees, commissions, or a combination—and how this might influence their recommendations.
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Credentials
Seek advisors with recognized credentials such as CFP®, CFA, or ChFC designations, indicating advanced training and ethical standards.
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Communication Style
Choose an advisor whose communication approach matches your preferences regarding frequency, detail, and method of interaction.
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Risk Management Focus
Rapid City's economy relies on tourism, posing risks during downturns. Real estate prices are rising, indicating potential bubble risks. Prepare for severe weather events.

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