Berthel, Fisher & Company Financial Services, Inc. (Cedar Rapids)

Name: Berthel, Fisher & Company Financial Services, Inc.
Address: 4201 42 Nd Street Ne, Cedar Rapids, IA, 52402
Telephone: 319-447-5700

Berthel, Fisher & Company Financial Services, Inc. is a large advisory firm based in Cedar Rapids. It manages $610.25 million of regulatory assets for 3,993 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Alabama, Arizona, California, and 42 other states.

Berthel, Fisher & Company Financial Services provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Berthel, Fisher & Company Financial Services: assets under management

The assets under management (AUM) of Berthel, Fisher & Company Financial Services, Inc. is $610.25 million. The firm's AUM has grown by 2275% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $408.64 million in discretionary accounts and $201.61 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $144.76 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $172.32 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 45% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 39% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Berthel, Fisher & Company Financial Services, Inc. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Richard Maurice Murphy serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Richard Maurice Murphy is individuals with 3,886 clients and $484.15 million of assets under management. Among the 10 most similar advisory firms, Berthel, Fisher & Company Financial Services has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $610.25 million for 3,993 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Berthel, Fisher & Company Financial Services doesn't advise any private funds.

Careers at Berthel, Fisher & Company Financial Services, Inc.

The company employs 118 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 118 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Richard Maurice Murphy has been acting as President since 1 Jan 2011. Erin Kathleen Burke joined the executive team most recently as the Chief Compliance Officer/Chief Risk Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Frederick Paul Fisher	Executive vice president	1 Aug 1983	Other	208584
Thomas Joseph Berthel	Ceo/chairman of the board	1 Apr 1984	Other	823289
Leslie Donald Smith	Secretary	1 Apr 1995	Other	2866640
Berthel Fisher & Company	100% owner	1 Dec 1997	75% - 100%	42-1254805
Inc. Berthel Fisher & Company	80.1% owner	1 Dec 1997	75% - 100%	42-1254805
Farm Bureau Life Insurance	Shareholder	1 Dec 1997	Other	42-0623913
Inc. Berthel Fisher & Company	100% owner	1 Dec 1997	75% - 100%	42-1254805
Ronald Odin Brendengen	Treasurer/c.o.o.	1 Jan 1998	Other	1675332
Daniel Peter Wegmann	C.f.o.	1 Jan 1999	Other	2222357
Julie Kay Driscoll	Senior vice president/secretary (a/o 10/30/2014)	1 Jan 1999	Other	2269302
Dwight Eugene Wheelan	President	1 Aug 1999	Other	1142090
Kirby Kent Wood	Vice president, insurance	1 Sep 1999	Other	1996855
Karen Diane Anderson	Vice president of underwriting	1 Jan 2001	Other	xxx-xx-xxxx
Craig Vincent Mineart	Vice president of trading	1 Jul 2003	Other	2642191
Tobi Lane Peterman	Vice president of operations	1 Jul 2003	Other	2421561
Tobi Lane Zaiser	Vice president of operations	1 Jul 2003	Other	2421561
Donna Marie Craft	Executive vice president	1 Jan 2004	Other	1982949
Shelley Rae Davenport	Chief compliance officer	1 Jan 2004	Other	2131376
Randy Austin Wilcox	Vice president of trading	1 May 2004	Other	4346998
Richard Maurice Murphy	Vice president/syndicate manager	1 Aug 2006	Other	4893748
Jeffrey Michael Auld	President	1 Sep 2006	Other	857528
Thomas Joseph Berthel	President	1 May 2008	Other	823289
Jason Alan Meier	Vice president of operations	1 Jun 2008	Other	4056888
Tobi Lane Zaiser	Vice president	1 Jul 2008	Other	2421561
Kevin James Schmidt	Vice president of trading	1 Jul 2008	Other	4792684
Tobi Lane Peterman	Vice president	1 Jul 2008	Other	2421561
Tobi Lane Peterman	Senior vice president, broker support	1 Jan 2009	Other	2421561
Suzanne Lynn Ford	Chief compliance officer-ria	1 Aug 2010	Other	2840148
Richard Maurice Murphy	President	1 Jan 2011	Other	4893748
Joanna Marie Schaul	Senior vice president/operating officer	1 Jan 2011	Other	4947759
Vicki Lin Reighard Kean	Chief compliance officer, broker-dealer/vp rep resources (a/o 7/23/14)	1 Apr 2011	Other	4238486
Randy Austin Wilcox	Chief compliance officer-ria	1 May 2011	Other	4346998
Andrew James Christofferson	Vice president business development	1 Jul 2013	Other	3248381
Randy Austin Wilcox	Chief compliance officer -ria, assistant cco (a/o 06/2014)	1 Jun 2014	Other	4346998
Shelley Rae Davenport	Assistant vp	1 Jul 2014	Other	2131376
Andrew James Christofferson	Senior vice president	1 Apr 2015	Other	3248381
Kelly O'hara	Vice president/controller	1 Apr 2015	Other	6458792
Sarah Maire Berner	Assistant chief compliance officer	1 Jul 2016	Other	4802796
Brian Rupp	Vice president/controller	1 Nov 2016	Other	6721718
Paige Nichole Swartzendruber	Vp advisor relationships and strategy consulting	1 Mar 2017	Other	4575768
Richard Maurice Murphy	Executive vice president	1 Nov 2017	Other	4893748
Steve Chester Hannah	Chief information officer	1 Nov 2017	Other	6864494
Brittany Michelle Noethen	Chief technology officer	1 Nov 2017	Other	2610543
Erin Kathleen Burke	Chief compliance officer/chief risk officer	1 May 2018	Other	4225081

Indirect Owners

The SEC currently registers 4 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Thomas Joseph Berthel	Common stock shareholder	1 Dec 1997	25% - 50%	823289
Inc. Fbl Financial Group	100% owner	1 Dec 1997	75% - 100%	42-1411715
Farm Bureau Life Insurance Company	Shareholder	1 Sep 2006	25% - 50%	42-1411715
Inc. Fbl Financial Group	Shareholder	1 Sep 2006	25% - 50%	42-1411715

Based in Cedar Rapids

The principal office where Berthel, Fisher & Company Financial Services, Inc. performs its advisory services is located at 4201 42 Nd Street Ne, Cedar Rapids, IA 52402, which is also the mailing address of the firm. An additional office of the firm is in Bloomfield Hills, MI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 319-447-5700 or by fax 319-447-4244. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at berthel.com.