Firm profile

GREAT WATERS FINANCIAL

SHOREVIEW, MNCRD 308215Latest ADV April 7, 2026

Great Waters Financial is an SEC registered investment adviser organized as a limited liability company with a primary office location in Shoreview, MN. Its latest Form ADV filing, dated April 7, 2026, reports $1.2B in regulatory assets under management, 42 employees, 3 offices, and 6,141 accounts.

Assets Under Management
$1.2B
Employees
42
Offices
3 offices
Total Clients
1,627
Primary office
SHOREVIEW, MN
4100 LEXINGTON AVE N, SUITE 100, SHOREVIEW, MN, United States
ADV Item 1F location record

Contact and digital presence

ADV profile links

Leadership

2 roles identified
CEOMichael J. Palumbo
CCOJustin R. Halverson

Advisory services offered

5 types reported
Educational seminars/workshops
Financial Planning Services
Portfolio management for businesses

Fee models offered

3 types reported
Asset based fees
Fixed fees
Hourly charges
Sources checked May 17, 2026

Client Coverage Demographics

Top client segmentIndividuals represent 76.5% of total clients.
Top client categories% of clientsClients
1
Individuals
76.5%
1,244
2
HNWI
23.5%
383
Categories with <5 clients
Charitable Organizations<5 clients
Corporations or other businesses not listed above<5 clients

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$1.2Bas of April 7, 2026
Discretionary100.0%
$1.2B
100% of total RAUM100.0%
Non-discretionary0.0%
$0
0% of total RAUM0.0%
All regulatory assets under management are discretionary.

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$1.2B
Total Accounts6,141
10Y AUM Change+$1.2B

Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees42
Clients per Employee39:1
10Y Employee Change+16 (+61.5%)

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.