State BrokerCheck inventory · July 2026

South Dakota broker-dealer grades

According to FINRA BrokerCheck as of July 2026, South Dakota ranks #43 of 56 by registered-firm inventory (4) and #48 of 56 by aggregate disclosure load (1). Inventory rank is not intensity rank: Missouri leads disclosures-per-firm on that 33-state board.

#43
of 56 by firm inventory
4
registered firms
1
disclosures on file
3
Grade-A clean record

South Dakota at a glance

According to FINRA BrokerCheck as of July 2026, South Dakota ranks #43 of 56 by registered-firm inventory (4) and #48 of 56 by aggregate disclosure load (1). Inventory rank is not intensity rank: Missouri leads disclosures-per-firm on that 33-state board.

#43 of 56
registered-firm inventory
#48 of 56
aggregate disclosure load
1
total disclosures statewide
3
with a clean record (Grade A)

Disclosure-load ordinal matches the /states listing. Missouri leads disclosures-per-firm; Maine leads Grade-A share among states with at least 10 firms. Neither rank is investment advice. See methodology · corpus placement.

Firm-size mix among 4 graded firms

FINRA BrokerCheck size classes in South Dakota. Segments sum to the graded inventory, a catalog shape, not the A-F grade ChartBar below.

4
Registered Firms
3
Clean Record (Grade A)
1
Total Disclosures
0.3
Avg Disclosures / Firm

Grade Distribution

How South Dakota's 4 graded broker-dealers split across the size-normalized A-F safety scale.

A, clean (3)3 firmsB, low (1)1 firmC, typical (0)0 firmsD, elevated (0)0 firmsF, heaviest (0)0 firms
Grade breakdown of 4 graded firms headquartered in South Dakota

Firms by Disclosure Count

#FirmDisclosuresOfficesGrade
1Variable Investment Associates, Inc.Tea12B
2Bosonic SecuritiesSpearfish02A
3C.R. Lloyd Investment Services, LLCSioux Falls02A
4Ernst Capital Securities, LLCSioux Falls02A

Light aggregate disclosure load

South Dakota in the sparser-inventory third

South Dakota ranks #48 of 56 by aggregate BrokerCheck disclosures (1 events) - lighter third.

South Dakota sits in the sparser third by registered-firm inventory (#43 of 56, 4 firms) as of July 2026. Graded inventory: 3 A / 1 B / 0 C / 0 D / 0 F (75.0% clean, 0.0% D or F). The top listing is Variable Investment Associates, Inc. (1 disclosures, Grade B).

Grades are editorial signals from a size-normalized model, not FINRA ratings. Disclosure totals are reported events, not proven violations - a thin South Dakota roster means each firm moves the state averages more. This page is informational only and does not constitute financial, legal, or investment advice. Confirm current records at FINRA BrokerCheck.

Frequently asked questions

Where does South Dakota sit among states by BrokerCheck disclosure load?
South Dakota is in the lighter third by aggregate disclosure load (#48 of 56, 1 events) while inventory ranks #43 of 56. Aggregate load is not a judgment of regulators or any firm.
How many broker-dealer firms are registered in South Dakota?
South Dakota registers 4 BrokerCheck firms (#43 sparser-third inventory). 3 (75.0%) hold a clean Grade-A record.
Which South Dakota broker-dealer has the most FINRA disclosures?
Variable Investment Associates, Inc. leads South Dakota's listing with 1 BrokerCheck disclosures across 2 offices (Grade B). Totals are reported events, not proven violations - verify on FINRA BrokerCheck.
How should I read South Dakota's safety grades?
On South Dakota's lighter-load board, grades stay size-normalized (weighted disclosures ÷ branch footprint within size class). Zero-disclosure firms earn A. Editorial signals only - not FINRA ratings; see methodology.
Is this official South Dakota broker data?
Yes. South Dakota's firm rows come from FINRA BrokerCheck and SEC IAPD public registries. PlainAdvisorCheck aggregates and size-normalizes them; underlying records are public domain. This is not financial advice.
All South Dakota Firms → All States →

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from official FINRA BrokerCheck and SEC EDGAR enforcement records for South Dakota. South Dakota ranks #43 by firm inventory and #48 by disclosure load in the PlainAdvisorCheck extract as of July 2026.