SEC-registered wealth management firm Broker-dealer affiliated
Berthel Fisher & Company Financial Services, Inc.
As of its Form ADV filed March 27, 2026, Berthel Fisher & Company Financial Services, Inc., an SEC-registered, broker-dealer affiliated wealth management firm in Cedar Rapids, Iowa, reported $906.4 million in regulatory assets under management across 3,352 accounts, ranking #17 among all wealth firms in Iowa by assets.
Registration
- Main office
- Cedar Rapids, IA
- Registration
- SEC-registered, Approved
- CRD number
- 13609
- SEC file number
- 801-62277
- Registered since
- August 27, 2003
- Latest Form ADV filing
- March 27, 2026
- Organized as
- Corporation
- Fiscal year ends
- December
- Other offices
- 55
Key figures
- Regulatory assets under management
- $906.4 million
- Discretionary
- $438.1 million (48.3%)
- Non-discretionary
- $468.4 million
- Accounts
- 3,352 (1,854 discretionary)
- Clients
- 3,358, approximate as reported
- Employees
- 100
- Advisory staff
- 100 performing investment advisory functions
- Average account
- $270,418
- Asset growth, 1 year
- 13.6% (from $798.1 million a year earlier)
- Asset growth, 3-year annual rate
- 31.8% (from $395.9 million three years earlier)
- Asset growth, 5-year annual rate
- 2.6% (from $798.1 million five years earlier)
- Client growth, 1 year
- 13.9% (from 2,948)
Broker-dealer affiliated. The firm is itself a broker-dealer as well as an investment adviser (Form ADV Item 6.A(1)). It is ranked among all wealth firms, the directory's view that includes wirehouses and broker-dealer firms, not in the main lists of independent RIAs. How firms are classed.
Growth rates come from the SEC's yearly snapshots and are left blank when the years are not comparable.
Rankings
Among all wealth firms, including wirehouses and broker-dealer firms.
Assets over time
Data table
| As of | RAUM |
|---|---|
| October 1, 2010 | $450.0 million |
| October 3, 2011 | $635.6 million |
| October 1, 2012 | $630.4 million |
| October 1, 2013 | $748.0 million |
| October 1, 2014 | $794.0 million |
| October 1, 2015 | $901.0 million |
| October 3, 2016 | $764.5 million |
| October 2, 2017 | $585.9 million |
| October 1, 2018 | $703.0 million |
| October 1, 2019 | $610.3 million |
| October 1, 2020 | $688.0 million |
| October 4, 2021 | $798.1 million |
| October 3, 2022 | $970.3 million |
| October 5, 2023 | $395.9 million |
| October 1, 2024 | $742.2 million |
| September 2, 2025 | $798.1 million |
| October 2, 2026 | $906.4 million |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| Individuals (other than high net worth) 3,278 clients | $719.9 million | |
| High net worth individuals 45 clients | $161.2 million | |
| Corporations or other businesses 19 clients | $20.4 million | |
| Pension and profit sharing plans 10 clients | $5.0 million |
How the firm is paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Commissions
Advisory services
- Financial planning
- Portfolio management for individuals or small businesses
- Selection of other advisers
Financial planning clients (Item 5.H): 11-25.
Wrap fee program sponsor or portfolio manager: no.
Other business, affiliations and custody
Other business activities (Item 6.A)
- Broker-dealer
- Insurance broker or agent
Financial industry affiliations (Item 7.A)
- Broker-dealer
- Other investment adviser
- Insurance company or agency
- Sponsor or syndicator of limited partnerships
Custody (Item 9)
The firm reported no custody of client cash or securities.
Investment adviser representatives
- IARs registered with the firm
- 71
- Also registered through a broker-dealer
- 69
- Employees who are IARs (Form ADV 5.B(3))
- 100
Designations held by the firm's IARs: CFP 6, ChFC 3.
Between 29 and 31 of the firm's 71 IARs are registered in jurisdictions that require IAR CE. The source counts registrations by jurisdiction, and many IARs are registered in more than one, so the exact number is not knowable from it. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 8 disclosure questions. See the detail on IAPD.
Succession and acquired firms
On Form ADV Item 4 the firm did not report succeeding to another adviser's business.
Similar-sized firms in Iowa
| Firm | City | RAUM |
|---|---|---|
| Northwest Wealth Management, LLC | Spencer | $1.0 billion |
| Legacy Financial Group | Des Moines | $1.0 billion |
| Syverson Strege | West Des Moines | $910.8 million |
| DMKC Advisory Services, LLC | Des Moines | $902.5 million |
| Basepoint Wealth, LLC | Cedar Rapids | $883.8 million |
The five wealth firms, broker-dealer affiliated firms included, nearest in regulatory assets with a main office in the same state.
Elsewhere
- Berthel Fisher & Company Financial Services, Inc. on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: www.berthel.com
- Wealth management firms in Iowa
Firm data as of October 2, 2026, from ia100226.zip. Figures are as the firm reported them; corrections are made on Form ADV and appear after the next monthly reload.
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.