# Bernicke Wealth Management

> Bernicke Wealth Management is an SEC-registered investment advisory firm in Altoona, WI, registered since 2025, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated May 26, 2026.

- CRD: 335431
- Filed as: BERNICKE WEALTH MANAGEMENT
- Legal name: Bernicke Wealth Management, Ltd.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Altoona, WI
- Filing period: October 2026
- Form ADV filing dated: May 26, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/335431
- AdvisorCensus page: https://advisorcensus.com/firm/bernicke-wealth-management-altoona-wi-335431

## Quick answers

**How is Bernicke Wealth Management compensated?**
On its Form ADV (Item 5.E, October 2026), Bernicke Wealth Management reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).

**What does Bernicke Wealth Management's brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 6, 2026 states: Asset-based fee: up to 1.75% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Bernicke Wealth Management located?**
Bernicke Wealth Management's principal office is in Altoona, WI, according to its Form ADV; the June 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Bernicke Wealth Management registered with the SEC or a state?**
Bernicke Wealth Management is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 335431.

**How much does Bernicke Wealth Management manage?**
Bernicke Wealth Management reports $887,394,335 in regulatory assets under management in its Form ADV filing dated May 26, 2026 (100% discretionary).

**How have Bernicke Wealth Management's assets and staff changed since 2025?**
In the Form ADV data for Bernicke Wealth Management: Total employees: 26 in October 2025 and 26 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Bernicke Wealth Management serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (513); high net worth individuals (355).

**Which custodians does Bernicke Wealth Management use?**
Bernicke Wealth Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Bernicke Wealth Management report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/335431

**What changed in Bernicke Wealth Management's recent Form ADV filings?**
In the June 2026 filing data: Registered or notice-filed in CO.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 6, 2026)

- Asset-based fee: up to 1.75% of assets a year (the maximum the brochure states)

> Bernicke Wealth’s annual fees are based upon a percentage of assets under management not to exceed 1.75%.

> Although Bernicke Wealth has established a maximum annual fee as stated above, we retain the discretion to negotiate alternative fees on a client-by-client basis.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $887,394,335
- Discretionary: $886,726,062
- Non-discretionary: $668,273

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 513 | $233,858,020 |
| High net worth individuals | 355 | $605,048,029 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | Fewer than 5 | $48,488,286 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Pension consulting services

### Firm details
- Registered since: 2025 (1 year)
- Employees: 26 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CO, FL, MN, NE, NH, TX, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the June 2026 filing
- De Pere, WI
- Minnetonka, MN
- Woodbury, MN

### Websites listed on Form ADV (Item 1.I)
- bernicke.com
- bernicke.com/blog
- Facebook @BernickeWealthManagement
- LinkedIn @bernicke-wealth-management
- YouTube @bernicke

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2025 | Not reported | 26 | April 24, 2025 |
| October 2026 | $887,394,335 | 26 | May 26, 2026 |

Total employees: 26 in October 2025 and 26 in October 2026.

## Changes in the filing (last 12 months)

### June 2026
- Registered or notice-filed in CO.

### April 2026
- Regulatory assets under management went from $801,699,673 to $887,394,335 (+11%).
- Added an office in De Pere, WI.
- Registered or notice-filed in NE, NH.

### December 2025
- Registered or notice-filed in AZ, FL.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Bernicke Wealth Management (CRD 335431): Form ADV filing data as of October 2026.