Bergankdv Wealth Management, LLC (Bloomington)


Bergankdv Wealth Management, LLC is a large advisory firm based in Bloomington. It manages $1.27 billion of regulatory assets for 2,234 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Arizona, California, Florida, and 10 other states.

Bergankdv Wealth Management provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bergankdv Wealth Management: assets under management

The assets under management (AUM) of Bergankdv Wealth Management, LLC is $1.27 billion. The firm's AUM has grown by 12% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $570.22 million in discretionary accounts and $700.48 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $284.68 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.03 million.
Bergankdv Wealth Management has custody of $537.78 million in cash and securities for 788 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 35% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in pooled investment vehicles form 18% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bergankdv Wealth Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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 Bergankdv Wealth Management serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Bergankdv Wealth Management is pension and profit sharing plans with 79 clients and $691.15 million of assets under management. Among the 9 most similar advisory firms, Bergankdv Wealth Management has the 2nd highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $1.25 billion for 860 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.

Bergankdv Wealth Management doesn't advise any private funds.

Careers at Bergankdv Wealth Management, LLC

The company employs 24 people that are either part- or full-time employees. 79 percent of the employees work as investment advisers or researchers. 15 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Matthew Alexander Cosgriff joined the executive team most recently as the Service Group Leader.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
David H Hinnenkamp Chief executive officer 1 Jan 2007 Other 4045430
Ltd Bergankdv Owner 1 Jan 2008 75% - 100% 41-1431613
Gregory James Stecher Chief compliance officer 1 Jul 2014 Other 1361184
Matthew Alexander Cosgriff Service group leader 1 May 2018 Other 6290623

Based in Bloomington

The principal office where Bergankdv Wealth Management, LLC performs its advisory services is located at 3800 American Blvd, Bloomington, MN 55431, which is also the mailing address of the firm. An additional office of the firm is in Cedar Rapids, IA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 888-812-3533 or by fax 952-563-6801. The normal business hours are 8:00am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at bergankdv.com.