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Great Plains Advisory Services LLC

Updated today

Client assets under management

$60,958,389

Clients

172

53% high-net worth

Advisors

2

of 2 employees

Firm type

Supported

1-3 advisors or $200M+ in AUM

Clients per advisor

86

High

Average account size

$354,409

About

Great Plains Advisory Services LLC serves individual and high‑net‑worth clients, reporting approximately $61.4 million in discretionary assets under management across about 172 client relationships and two advisors. The firm provides discretionary portfolio management and broader consulting services — including retirement‑plan and insurance‑related advice — and generally charges asset‑based advisory fees with custodial relationships typically recommended to Charles Schwab.

The firm’s investment process emphasizes fundamental analysis, individualized asset allocation, and the use of model portfolios and third‑party sub‑advisors, with routine account reviews at least quarterly. For qualified or accredited clients, Great Plains may recommend less liquid alternative investments such as private pooled funds and unaffiliated REITs and includes those positions in AUM valuations, noting the distinct liquidity and valuation risks of those holdings.

What distinguishes the firm from many peers are its multiple industry affiliations and related conflicts of interest: it is affiliated with a broker‑dealer and an insurance agency and some controlling persons also engage in real estate brokerage, and advisors may receive commissions for insurance sales; the firm discloses policies intended to mitigate these conflicts (for example, limits on selling securities to advisory clients unless commissions are removed or fees not billed). The firm also discloses a resolved, reportable disciplinary event involving a managing member from prior years related to sales charge handling, which is described in its regulatory filings.

Client services

Portfolio management Consulting

Expertise

Private / alternative investments Real estate investing

Fee options

Fixed

Fixed fees for consulting services separately negotiated and agreed upon in writing.

Percentage

$0 - $1,000,000: 1.50% $1,000,001+: 1.00%

Commissions

Commission-based compensation only for insurance products sold separately; no commissions on advisory services.

Project-based

Hourly consulting fees separately negotiated; invoiced monthly or as agreed.

Other

Fee-only: Fees are negotiable and based on asset management; consulting fees are hourly or fixed and negotiated separately.

Main office location

Great Plains Advisory Services LLC

6048 31 St St S

Fargo ND 58104, United States

Number of offices

1

Most active in

Minnesota · North Dakota

Disclosures

Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.

Business activities & affiliations

Quick links

Advisors at this firm

user avatar

Jeffrey W

Series 66

Fargo, ND

Great Plains Advisory Services LLC

Jeffrey Wallgren is a financial advisor with Great Plains Advisory Services LLC in Fargo, ND, holding a Series 66 designation and 14 years of industry experience. He previously worked at International Assets Investment Management LLC and International Assets Advisory, LLC for 12 years before joining Great Plains Financial Services, LLP and Great Plains Advisory Services LLC in 2024. Great Plains Advisory Services, LLC serves individual and high-net-worth clients, as well as trusts, estates, charitable organizations, and small businesses. The firm provides discretionary and non-discretionary portfolio management, consulting services, and access to alternative investment vehicles, utilizing fundamental analysis and individualized portfolio construction.

Private / alternative investments Real estate investing
user avatar

Richard E

ChFC®, Series 63, Series 65

Fargo, ND

Great Plains Advisory Services LLC

Richard Engen is a financial advisor with Great Plains Advisory Services LLC in Fargo, ND. He holds the ChFC® designation and Series 63 and 65 licenses, with 31 years of industry experience. Prior to his current role, he worked at Global Assets Advisory, LLC and International Assets Investment Management, LLC. Outside of advising, he is a majority owner of a technology company, IDFusion LLC. Great Plains Advisory Services, LLC serves individual and high-net-worth clients, trusts, estates, charitable organizations, and small businesses. The firm offers discretionary and non-discretionary portfolio management, consulting, and access to alternative and private investment vehicles, using fundamental analysis and individualized portfolio construction.

Private / alternative investments Real estate investing
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