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


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.

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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. Hourly charges are usually charged for consulting work and special projects. 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.


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