{
  "crd_number": 13609,
  "slug": "berthel-fisher-and-company-financial-services-inc-cedar-rapids-ia-13609",
  "primary_business_name": "BERTHEL FISHER & COMPANY FINANCIAL SERVICES, INC.",
  "legal_name": "BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC.",
  "dbas": [
    "BERTHEL FISHER & COMPANY",
    "BERTHEL FISHER & COMPANY INC."
  ],
  "city": "Cedar Rapids",
  "state": "IA",
  "country": "United States",
  "cbsa_code": "16300",
  "metro": {
    "cbsa_code": "16300",
    "common_name": "Cedar Rapids",
    "msa_name": "Cedar Rapids, IA",
    "path": "/advisors/ia/cedar-rapids"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2003-08-27",
  "years_registered": 23,
  "period": "2026-10-01",
  "filing_date": "2026-03-27",
  "carried_forward": false,
  "raum_total": 906439489.0,
  "raum_discretionary": 438087820.0,
  "raum_non_discretionary": 468351669.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 100,
  "advisory_employees": 100,
  "client_count_bucket": null,
  "clients_by_type": {
    "individuals": {
      "raum": 719904645.0,
      "count": 3278
    },
    "pension_profit_sharing": {
      "raum": 4988252.0,
      "count": 10
    },
    "high_net_worth_individuals": {
      "raum": 161190611.0,
      "count": 45
    },
    "corporations_other_businesses": {
      "raum": 20355981.0,
      "count": 19
    }
  },
  "compensation_types": [
    "commissions",
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 8,
  "states_registered": [
    "AL",
    "AZ",
    "CA",
    "CO",
    "CT",
    "DC",
    "DE",
    "FL",
    "GA",
    "HI",
    "IA",
    "ID",
    "IL",
    "IN",
    "KS",
    "KY",
    "LA",
    "MA",
    "MD",
    "MI",
    "MN",
    "MO",
    "MS",
    "MT",
    "NC",
    "ND",
    "NE",
    "NH",
    "NJ",
    "NM",
    "NV",
    "NY",
    "OH",
    "OK",
    "OR",
    "PA",
    "SC",
    "SD",
    "TN",
    "TX",
    "UT",
    "VA",
    "VT",
    "WA",
    "WI",
    "WV"
  ],
  "websites": [
    "https://berthel.com",
    "https://facebook.com/BERTHEL-FISHER-COMPANIES-247947705392965",
    "https://linkedin.com/COMPANY/BERTHEL-FISHER-&-COMPANY-FINANCIAL-SERVICES-INC.?TRK=COMPANY_LOGO"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/13609",
  "disclosure_items": [
    {
      "item": "11.C(1)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?"
    },
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    },
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    },
    {
      "item": "11.D(4)",
      "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.E(2)",
      "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?"
    },
    {
      "item": "11.G",
      "question": "Is the firm or an advisory affiliate now the subject of a regulatory proceeding that could result in a yes answer to any part of 11.C, 11.D, or 11.E?"
    }
  ],
  "city_as_filed": "CEDAR RAPIDS",
  "url": "https://advisorcensus.com/firm/berthel-fisher-and-company-financial-services-inc-cedar-rapids-ia-13609",
  "display_name": "Berthel Fisher & Company Financial Services, Inc.",
  "summary": "Berthel Fisher & Company Financial Services, Inc. is an SEC-registered investment advisory firm in Cedar Rapids, IA, registered since 2003, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.",
  "citation": "AdvisorCensus. Berthel Fisher & Company Financial Services, Inc. (CRD 13609): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)",
    "Commissions"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Berthel Fisher & Company Financial Services, Inc. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Berthel Fisher & Company Financial Services, Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); commissions."
    },
    {
      "q": "Where is Berthel Fisher & Company Financial Services, Inc. located?",
      "a": "Berthel Fisher & Company Financial Services, Inc.'s principal office is in Cedar Rapids, IA, according to its Form ADV; the April 2026 filing also lists 22 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Berthel Fisher & Company Financial Services, Inc. registered with the SEC or a state?",
      "a": "Berthel Fisher & Company Financial Services, Inc. is an SEC-registered investment advisory firm, registered since 2003. Status as filed: Approved. CRD 13609."
    },
    {
      "q": "How much does Berthel Fisher & Company Financial Services, Inc. manage?",
      "a": "Berthel Fisher & Company Financial Services, Inc. reports $906,439,489 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (48% discretionary)."
    },
    {
      "q": "How have Berthel Fisher & Company Financial Services, Inc.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Berthel Fisher & Company Financial Services, Inc.: Regulatory assets under management: $798,064,896 in the October 2021 data and $906,439,489 in the October 2026 data, up 14%. Total employees: 100 in October 2021 and 100 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Berthel Fisher & Company Financial Services, Inc. serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (3,278); high net worth individuals (45); corporations or other businesses not listed above (19)."
    },
    {
      "q": "Does Berthel Fisher & Company Financial Services, Inc. report any disciplinary disclosures?",
      "a": "Reports 8 disclosure items on Form ADV Item 11: yes answers to 8 questions about regulatory matters (11.C(1), 11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.D(4), 11.E(2), 11.G). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/13609"
    },
    {
      "q": "Does Berthel Fisher & Company Financial Services, Inc. state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 27, 2026 says: \"As a general rule, the minimum account size is twenty-five thousand dollars ($25,000). However, under certain circumstances, BFCFS may waive the minimum account size requirement and accept accounts less than the minimum requirement.\""
    },
    {
      "q": "What changed in Berthel Fisher & Company Financial Services, Inc.'s recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $798,130,823 to $906,439,489 (+14%). Changed its office addresses in Graham, NC. Added an office in Bountiful, UT. Added an office in Elk Grove, CA. Added an office in Pine Mountain Club, CA. No longer lists an office in Atchison, KS. No longer lists an office in Helena, MT. No longer lists an office in Naperville, IL. No longer lists an office in Peoria, AZ."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 798064896.0,
      "total_employees": 100,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 970269118.0,
      "total_employees": 100,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 395938893.0,
      "total_employees": 100,
      "filing_date": "2023-03-30"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 742220394.0,
      "total_employees": 100,
      "filing_date": "2024-03-25"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 798130823.0,
      "total_employees": 100,
      "filing_date": "2025-03-26"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 906439489.0,
      "total_employees": 100,
      "filing_date": "2026-03-27"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $798,130,823 to $906,439,489 (+14%).",
        "Changed its office addresses in Graham, NC.",
        "Added an office in Bountiful, UT.",
        "Added an office in Elk Grove, CA.",
        "Added an office in Pine Mountain Club, CA.",
        "No longer lists an office in Atchison, KS.",
        "No longer lists an office in Helena, MT.",
        "No longer lists an office in Naperville, IL.",
        "No longer lists an office in Peoria, AZ."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 27, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$25,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $25,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "As a general rule, the minimum account size is twenty-five thousand dollars ($25,000). However, under certain circumstances, BFCFS may waive the minimum account size requirement and accept accounts less than the minimum requirement."
        ]
      }
    ],
    "quotes": [
      "As a general rule, the minimum account size is twenty-five thousand dollars ($25,000). However, under certain circumstances, BFCFS may waive the minimum account size requirement and accept accounts less than the minimum requirement."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/berthel-fisher-and-company-financial-services-inc-cedar-rapids-ia-13609.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 3278,
      "fewer_than_5": false,
      "raum": 719904645.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 45,
      "fewer_than_5": false,
      "raum": 161190611.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 10,
      "fewer_than_5": false,
      "raum": 4988252.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 19,
      "fewer_than_5": false,
      "raum": 20355981.0
    }
  ],
  "disclosure_line": "Reports 8 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/13609",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}