Great Waters Wealth Management
- Regulatory AUM
- $1.2B
- Discretionary
- $1.2B
- Clients
- 1,627
- Avg AUM / client
- $759K
- Accounts
- 6,141
- Employees
- 42
AUM over time
Annual snapshots from Form ADV filings · as of Apr 07, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 1,244 | $460M | 37.3% |
| High net worth individuals | 383 | $774M | 62.7% |
| Charitable organizations | Fewer than 5 clients | $626K | 0.05% |
| Corporations and other businesses | Fewer than 5 clients | $154K | 0.01% |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Hdr, Inc. Best Plan And Esop Hdr, Inc. | 2024 |
People (28)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Elijah Reed Kovar | Partner | Sep 2021 (5y) | ≈ 14.06% – 50% via Providence Financial | |
| Justin Raymond Halverson | Chief Compliance Officer | Sep 2021 (5y) | Less than 5% | |
| Michael Joseph Palumbo | Chief Executive Officer | Sep 2021 (5y) | Less than 5% | |
| Nicholas Christopher Benjamin Foulks | Director Of Communications Strategy | Sep 2021 (5y) | Less than 5% | |
| Matthew Joseph Schwartz | Advisor, Director Of Client Experience | CFP | Apr 2022 (4y) | Less than 5% |
| Sietstra, Chris, Aric | Director Of Finance | Sep 2022 (4y) | Less than 5% | |
| Arseneau, Maya, Ruth | Chief Of Staff | Mar 2023 (3y) | Less than 5% | |
| Kohnen, Kersten, Joy | Director Of People & Culture | Mar 2023 (3y) | Less than 5% | |
| Devon Douglas Johnson | Registered representative | Apr 2022 (4y) | ||
| Ethan Kyle Stone | Registered representative | Apr 2022 (4y) | ||
| Justin Dale Arfsten | Registered representative | Apr 2022 (4y) | ||
| Sarah Ellen Kaufman | Registered representative | Apr 2022 (4y) | ||
| Daniel Jon Molenaar | Registered representative | Apr 2022 (4y) | ||
| Taylor John Hegna | Registered representative | CFP | Apr 2022 (4y) | |
| Joshua Martin Legband | Registered representative | Apr 2022 (4y) | ||
| Joseph David Turner | Registered representative | Apr 2022 (4y) | ||
| Nicholas Brian Folstad | Registered representative | May 2022 (4y) | ||
| Alexander Eisch | Registered representative | May 2022 (4y) | ||
| Alex James Carlson | Registered representative | Aug 2022 (4y) | ||
| Timothy James Lo Stracco | Registered representative | CFP | Sep 2022 (4y) | |
| Matthew John Hentges | Registered representative | May 2023 (3y) | ||
| Michael Paul Swanson | Registered representative | Jul 2023 (3y) | ||
| Imara M Hixon | Registered representative | Sep 2024 (2y) | ||
| Alex Meehan | Registered representative | CFP | Apr 2025 (1y) | |
| David Thomas Gau | Registered representative | Feb 2026 (0y) | ||
| Amelia Lauren Kinch | Registered representative | Mar 2026 (0y) | ||
| Kerri Jo Vogel | Registered representative | Jun 2026 (0y) | ||
| Gloria Stepha Garcia Cisneros | Registered representative | CFP | Jun 2026 (0y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Great Waters Financial Management | Owner | Sep 2021 | A | 75% or more |
| Halverson Financial | Owner | Sep 2021 | B | ≈ 18.75% – 50% via Great Waters Financial Management |
| Providence Financial | Owner | Sep 2021 | B | ≈ 18.75% – 50% via Great Waters Financial Management |
| Serona Group | Owner | Sep 2021 | B | ≈ 18.75% – 50% via Great Waters Financial Management |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Elijah Reed Kovar: 75% – 100% of Providence Financial × 25% – 50% of Great Waters Financial Management × 75% – 100% direct ≈ 14.06% – 50% of the firm
- Halverson Financial: 25% – 50% of Great Waters Financial Management × 75% – 100% direct ≈ 18.75% – 50% of the firm
- Providence Financial: 25% – 50% of Great Waters Financial Management × 75% – 100% direct ≈ 18.75% – 50% of the firm
- Serona Group: 25% – 50% of Great Waters Financial Management × 75% – 100% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Retirement plans served (1)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Hdr, Inc. Best Plan And Esop | Hdr, Inc. | 12,137 | $7.7B | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 04/07/2026 | 981 KB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Hourly charges
- • Fixed fees
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for businesses/institutional clients
- • Selection of other advisers
- • Educational seminars/workshops
Custody
Reported custodians
- Charles Schwab & Co. $1.2B (100% of AUM) Apr 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Apr 07, 2026.
View current Form ADV (SEC/IAPD) ↗