AdvisorCensus / Financial advisors / Iowa / Cedar Rapids / BFC Planning, Inc.
BFC Planning, Inc. is an SEC-registered investment advisory firm in Cedar Rapids, IA, registered since 2007, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.
Quick answers
From the filingHow is BFC Planning, Inc. compensated?
On its Form ADV (Item 5.E, October 2026), BFC Planning, Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); other.
Where is BFC Planning, Inc. located?
BFC Planning, Inc.'s principal office is in Cedar Rapids, IA, according to its Form ADV; the April 2026 filing also lists 25 other offices (Schedule D, Section 1.F).
Is BFC Planning, Inc. registered with the SEC or a state?
BFC Planning, Inc. is an SEC-registered investment advisory firm, registered since 2007. Status as filed: Approved. CRD 119682.
How much does BFC Planning, Inc. manage?
BFC Planning, Inc. reports $3,841,196,599 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (84% discretionary).
How have BFC Planning, Inc.'s assets and staff changed since 2021?
In the Form ADV data for BFC Planning, Inc.: Regulatory assets under management: $1,274,830,615 in the October 2021 data and $3,841,196,599 in the October 2026 data, up 201%. Total employees: 212 in October 2021 and 200 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does BFC Planning, Inc. serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (10,753); high net worth individuals (574); corporations or other businesses not listed above (78).
Does BFC Planning, Inc. report any disciplinary disclosures?
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.C(4) (SEC or CFTC order). 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/119682
Does BFC Planning, Inc. state an account minimum?
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, BFCP may waive the minimum account size requirement and accept accounts less than the minimum requirement."
What changed in BFC Planning, Inc.'s recent Form ADV filings?
In the April 2026 filing data: Regulatory assets under management went from $2,026,848,859 to $3,841,196,599 (+90%). Added an office in Bellingham, WA. Added an office in Denver, CO. Added an office in Indianapolis, IN. Added an office in Manchester, MO. Added an office in Reading, PA. Added an office in Winterset, IA. No longer lists an office in Denton, TX. No longer lists an office in Dixon, IL. No longer lists an office in Prior Lake, MN. No longer lists an office in Seminole, FL.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Other
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAccount minimum: $25,000 (the brochure says it may be waived or negotiated)
The brochure's wording
As a general rule, the minimum account size is twenty-five thousand dollars ($25,000). However, under certain circumstances, BFCP may waive the minimum account size requirement and accept accounts less than the minimum requirement.
As stated in the firm's Form ADV Part 2A brochure dated March 27, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$3,841,196,599 as of October 2026, filing dated March 27, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Financial planning services
- Portfolio management for individuals and/or small businesses
- Selection of other advisers (including private fund managers)
Registration and firm details
Items 1, 2, 5- Also doing business as
- 1ST & MAIN INVESTMENT ADVISORS - ADVISORY SERVICES OFFERED THROUGH BFC PLANNING, INC.
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2007 (19 years)
- Employees
- Total: 200. Performing investment advisory functions: 200.
- Wrap fee program participation
- No.
- Other offices (Schedule D, Section 1.F)
-
25 other offices, as of the April 2026 filing
- States registered or notice-filed
-
51 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 111 Reports 1 disclosure item on Form ADV Item 11. View on IAPD.
Questions answered yes on this filing
Regulatory matters Items 11.C to 11.G
- 11.C(4) Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. What happened, and who was involved, is on the Disclosure Reporting Pages of the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $3,841,196,599 | 200 | March 27, 2026 |
| October 2025 | $2,026,848,859 | 200 | March 26, 2025 |
| October 2024 | $1,839,208,077 | 200 | March 25, 2024 |
| October 2023 | $1,477,309,181 | 200 | March 30, 2023 |
| October 2022 | $1,955,791,103 | 200 | March 31, 2022 |
| October 2021 | $1,274,830,615 | 212 | June 15, 2021 |
Regulatory assets under management: $1,274,830,615 in the October 2021 data and $3,841,196,599 in the October 2026 data, up 201%.
Total employees: 212 in October 2021 and 200 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Regulatory assets under management went from $2,026,848,859 to $3,841,196,599 (+90%).
- Added an office in Bellingham, WA.
- Added an office in Denver, CO.
- Added an office in Indianapolis, IN.
- Added an office in Manchester, MO.
- Added an office in Reading, PA.
- Added an office in Winterset, IA.
- No longer lists an office in Denton, TX.
- No longer lists an office in Dixon, IL.
- No longer lists an office in Prior Lake, MN.
- No longer lists an office in Seminole, FL.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. BFC Planning, Inc. (CRD 119682): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/bfc-planning-inc-cedar-rapids-ia-119682