Sizzling Sioux Falls Fintech Firm Makes Bold Strides in Alternative Investments
Sept. 17, 2026
IRA Financial, a dynamic fintech firm based in Sioux Falls, is making waves as its services for accessing alternative investments see significant growth. The company, which specializes in self-directed retirement accounts, including IRAs and solo 401(k)s, recently ranked No. 2,327 on the annual Inc. 5000 list, with a three-year revenue growth of 145 percent.
Aiming for Scalability
The firm attributes its rapid expansion to its investment in upgrading its platform and services. “We’ve modernized our platform, client portal, and internal systems to prepare for scaling,” comments company president Tyler Northrup. Despite its national clientele, Northrup emphasizes the company’s proud roots in Sioux Falls and South Dakota.
The Genesis of IRA Financial
Founded in 2010 by tax attorney Adam Bergman, IRA Financial was born out of necessity when a client wished to make some alternative investments with his IRA funds. This led Bergman to discover a gap in the market for people to invest for retirement in non-traditional assets like real estate and private equity. Bergman relocated from New York to Miami to launch the business, later bringing it to South Dakota in 2015.
IRA Financial’s Investment Platform
IRA Financial’s platform provides a full-service solution for self-directed investing, without offering related advising services. The platform now serves more than 27,000 active accounts with over $8 billion in assets invested. The company’s new CEO Clay Cowan, former chief marketing officer at IBM, was drawn to the industry’s potential and the company’s focus on the previously undiscovered space of self-directed IRAs.
Customer-Centric Approach
With a commitment to maintaining a tech-centered model and offering a flat fee for its services, IRA Financial appeals to customers who wish to make investments with their retirement funds. The company is similar to popular platforms such as Robinhood and Betterment but differentiates itself by offering the ability to invest in local businesses. Most investors using the IRA Financial platform invest, on average, between 30 and 50 percent of their funds in alternative assets.
IRA Financial: At the Heart of Sioux Falls
With a team of over 90 people, most of whom are based in the Sioux Falls office, IRA Financial is a pillar of the local community. The company’s employees, who range from recent interns to seasoned fintech professionals, play a key role in its success in the self-directed retirement account industry. A recipient of the Sioux Empire United Way Business of the Year award, IRA Financial is committed to giving back to the Sioux Falls community.
Looking to the Future
As part of its ambitious growth plans, IRA Financial aims to reach 100,000 active accounts. “We’re not talking about growing 10 or 15 percent a year,” says CEO Cowan. “As more people become aware of the advantages of this space, we believe there’s immense potential for the company to expand.”
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