DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

SEC-registered adviser

Bfc Planning, Inc.

Broker-dealer affiliated wealth managerCedar Rapids, IowaCRD 119682SEC 801-67427websiteIAPD
Latest filing Mar 27, 2026
First filing on the tape Dec 1, 2011 · 68 filings
SEC status approved since Jan 3, 2007
RAUM
$3.8B
reported, Item 5.F
Discretionary
84%
of RAUM
Private clients
96%
$3.7B individuals and HNW
Advisors
230
registered through the firm on IAPD
RAUM per advisor
$16.7M
derived; firm RAUM over IAPD count
Employees
200
200 advisory (5.B.1)
Offices
135
beyond the principal office
Private funds
0
reported on Schedule D
History
68 filings and snapshots on the tape
RAUM$3.8B as of Mar 27, 2026
Mar 15, 2012$10.3M then
HNW client RAUM$1.3B as of Mar 27, 2026
Mar 29, 2019$173M then
State-registered IARs (5.B.3)200 as of Mar 27, 2026
Mar 15, 20120 then
Employees (5.A)200 as of Mar 27, 2026
Mar 26, 201334 then
Private funds: no history
RAUM +90% over the last fiscal year+38% a year over threeIARs 200 to 200
Practice profile
derived from the filing of Mar 27, 2026; every figure names its basis
Archetypes, each a printed rule
  • Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
  • Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
RAUM per advisor
$16.7MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
49derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.3MderivedHNW RAUM over HNW clients
Average account
$291,574derivedRAUM over accounts (5.F.2.f)
Discretionary
84%derivedof RAUM
Institutional
1.5%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.9derivedItem 5.A over advisors
Advisors per office
1.7derived136 offices incl. principal (1.F.5)
RAUM growth, one year
+90%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+71%derived
Compensation
percentage of assets, hourly, fixed fees, otherreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, selection of other advisersreportedItem 5.G
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • compensates persons for client referrals (8.G.1)
  • marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$2.4B61%
  • High-net-worth individuals$1.3B35%
  • Corporations and businesses$92.8M2.4%
  • Pension and profit-sharing plans$31.8M0.8%
  • Charitable organizations$24.7M0.6%
Individual clients
10,753reported
HNW clients
574reported
Pension plan clients
34reported
Charitable clients
9reported
Accounts
13,174reported
Financial planning clients
101-250reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.96 fund_share=0.0 institutional_share=0.01 related_bd=true related_bank=false bd_reps=200.0derived
Advisors registered through the firm
230 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Tim Alan HohulinChartered Financial ConsultantBloomington, Il Feb 1, 200036 y0
Thomas Joseph BerthelCedar Rapids, IaJan 1, 200143 y0
Patrick David RedingAlgona, Ia Jan 1, 200138 y0
Misty Lynn ChildsCedar Rapids, Ia Jun 27, 200334 y1
Scott Callis BarcombSarasota, Fl Sep 6, 200326 y1
James Kenneth BeakasToledo, Oh Apr 27, 200439 y0
Richard Ralph BullerCedar Rapids, Ia Oct 28, 200428 y0
Lois E Gough LopezPine Mountain Club, Ca Jun 20, 200526 y0
Randy Austin WilcoxCedar Rapids, Ia Sep 10, 200524 y0
Fraser Macpherson HornCedar Rapids, Ia Jan 4, 200639 y3
Dudley Marvin IrwinEdwards, Co Jan 20, 200639 y2
Robert Earl BeardCedar Rapids, Ia Nov 21, 200731 y0
Kevin Craig KoslofskiCedar Rapids, Ia Mar 4, 200828 y1
Lucius WilliamsonCedar Rapids, Ia Mar 31, 200829 y3
James Andrew CecilSolon, Ia Nov 25, 200827 y2
Ritchie Lynn HoffmanCedar Rapids, Ia Aug 3, 200923 y1
Jason Christopher CookCertified Financial PlannerGraham, Nc Sep 14, 200925 y0
Spencer Allen MillsBismarck, Nd Nov 13, 200918 y1
Joseph Robert WeinbauerSt Louis, Mo Feb 1, 201028 y1
Charles Thomas CammackSelma, Al Mar 10, 201035 y2
Robert Charles MeyerCedar Rapids, Ia Apr 15, 201019 y0
Genevieve Garcia MarNorthbrook, Il Nov 5, 201030 y2
Deborah Renae JesseeCedar Rapids, Ia Dec 17, 201025 y3
David Scott DowneyMarion, Ia Nov 2, 201119 y3
Deborah Anne HansonZionsville, In Dec 13, 201123 y3
Guy William JonesCertified Financial PlannerDenton, Tx Feb 29, 201244 y0
Richard Thomas SealCedar Rapids, Ia Mar 1, 201223 y2
Layne Jeffrey BrownChartered Financial ConsultantPleasant Hill, Ia Mar 6, 201229 y0
Paul Gerard HardinCedar Rapids, Ia Mar 19, 201238 y1
Arthur Douglas SalmonDallas, Tx Jun 21, 201230 y4
Steven Alan GundyCedar Rapids, Ia Jun 22, 201226 y1
Jeffrey Alan SchillerCedar Rapids, Ia Jun 25, 201244 y1
Frank Thomas DelurgioCertified Financial PlannerSt. Louis, Mo Sep 4, 201242 y2
Andrew James ChristoffersonCedar Rapids, Ia Sep 20, 201227 y2
Jeffrey Douglas ThomasLas Vegas, Nv Nov 1, 201230 y0
Kerry Glen JuddChartered Financial ConsultantCedar Rapids, Ia Jan 11, 201337 y4
Sergio Humberto GallegoChula Vista, Ca Jun 4, 201314 y1
Bradford Todd WilliamsCottonwood Heights, Ut Jun 17, 201325 y4
Nicholas Ernest MockMinot, Nd Jul 22, 201314 y1
Marissa Dawn NehlsenCedar Rapids, Ia Jul 22, 201328 y2
All 230 advisors at Bfc Planning, Inc.
Advisor movement
15 left, 28 joined in 12 months
net +13 in 12 months3 left in 90 days0 joined in 90 daysdeparture rate 6.5% of current headcount30 left over 36 months
Left, latest
Joined, latest
Teams: two or more advisors moving together within fourteen days, from one state
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • Joseph Thomas Berthel · Chairman Of Boardcontrol
    since 03/1989 · owns less than 5%
  • James Andrew Christofferson · Chief Executive Officer/Presidentcontrol
    since 04/2015 · owns less than 5%
  • Brian Rupp · Vice President/Controller/Treasurercontrol
    since 11/2017 · owns less than 5%
  • Marie Joanna Schaul · Secretarycontrol
    since 09/2014 · owns less than 5%
  • Joseph Thomas Berthel · Chairman Of Boardcontrol
    since 11/1984 · owns 25% to 50% of Berthel Fisher & Company
  • Karen Early Kimberly Chapman · Chief Compliance Officer
    since 12/2020 · owns less than 5%
  • Ralph James Hohn · Vp Technology
    since 12/2020 · owns less than 5%
  • Lane Tobi Peterman · Vice President/Operations
    since 08/2019 · owns less than 5%
  • Nichole Paige Swartzendruber · Chief Business Development Officer
    since 03/2017 · owns less than 5%
  • Austin Randy Wilcox · Vp Compliance/Osj Manager
    since 06/2021 · owns less than 5%
Entity owners
  • Berthel Fisher & Company · Shareholder
    direct · owns 75% or more
Related persons
Schedule D 7.A
Advisers that list Bfc Planning, Inc. as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Cedar Rapids, Ia · principal23076101
Bismarck, Nd910
Minot, Nd500
Dallas, Tx510
Chesterfield, Mo400
Toledo, Oh400
Pleasant Hill, Ia300
St Louis, Mo310
Edwards, Co300
Boardman, Oh300
Manchester, Mo220
Midvale, Ut200
Muscatine, Ia200
North Mankato, Mn200
Northbrook, Il200
Algona, Ia200
Blomington, Il200
Burlington, Ia200
Cincinnati, Oh200
Denton, Tx200
Offices
Schedule D 1.F, the 25 largest
  • Minot, ND5 employees
  • Dallas, TX4 employees
  • Bismarck, ND4 employees
  • Boardman, OH4 employees
  • Bloomington, IL3 employees
  • Chesterfield, MO3 employees
  • Pleasant Hill, IA3 employees
  • Toledo, OH3 employees
  • Edwards, CO3 employees
  • Maple Grove, MN2 employees
  • Greenville, SC2 employees
  • Cincinnati, OH2 employees
  • Midvale, UT2 employees
  • Dixon, IL2 employees
  • Seminole, FL2 employees
  • Muscatine, IA2 employees
  • Burlington, IA2 employees
  • , 2 employees
  • Sarasota, FL2 employees
  • Denton, TX2 employees
  • Plymouth, MN2 employees
  • , 2 employees
  • Prior Lake, MN2 employees
  • Algona, IA2 employees
  • Stockton, CA1 employees
ADV anomalies
4 against comparable advisers; where to look, not conclusions
  • account count surgeChange between filings · filing Mar 27, 2026
    accounts (Item 5.F.2.f) moved from 8,756.0 to 13,174.0 (+50.0%) between the annual amendments of 2025-03-26 and 2026-03-27; the peer median change was +10.0% (52 comparable advisers, 92.0th percentile of changes)
    peers: affiliated wealth managers, $1B to $5B (52) · 92% percentile
  • client count surgeChange between filings · filing Mar 27, 2026
    individual and HNW clients (Item 5.D) moved from 6,633.0 to 11,327.0 (+71.0%) between the annual amendments of 2025-03-26 and 2026-03-27; the peer median change was +9.0% (50 comparable advisers, 96.0th percentile of changes)
    peers: affiliated wealth managers, $1B to $5B (50) · 96% percentile
  • discretionary share shiftChange between filings · filing Mar 27, 2026
    discretionary share of RAUM moved from 64.0% to 84.0% between the annual amendments of 2025-03-26 and 2026-03-27
    peers: affiliated wealth managers, $1B to $5B (56)
  • RAUM up 50 %Change between filings · filing Mar 27, 2026
    RAUM (Item 5.F) moved from $2,026,848,859 to $3,841,196,599 (+90.0%) between the annual amendments of 2025-03-26 and 2026-03-27; the peer median change was +22.0% (52 comparable advisers, 100.0th percentile of changes)
    peers: affiliated wealth managers, $1B to $5B (52) · 100% percentile
What changed
consecutive filings, newest first
  • Accounts · 8,756 to 13,174
    Mar 26, 2025 to Mar 27, 2026
  • Charity clients · unset to 9.0
    Mar 26, 2025 to Mar 27, 2026
  • Corporate clients · 36 to 78
    Mar 26, 2025 to Mar 27, 2026
  • HNW clients · 118 to 574
    Mar 26, 2025 to Mar 27, 2026
  • Individual clients · 6,515 to 10,753
    Mar 26, 2025 to Mar 27, 2026
  • Pension plan clients · 51 to 34
    Mar 26, 2025 to Mar 27, 2026
  • Discretionary RAUM · $1.3B to $3.2B
    Mar 26, 2025 to Mar 27, 2026
  • HNW RAUM · $415M to $1.3B
    Mar 26, 2025 to Mar 27, 2026
  • Individual RAUM · $1.5B to $2.4B
    Mar 26, 2025 to Mar 27, 2026
  • Non-discretionary RAUM · $736M to $608M
    Mar 26, 2025 to Mar 27, 2026
  • Pension RAUM · $29.5M to $31.8M
    Mar 26, 2025 to Mar 27, 2026
  • RAUM · $2.0B to $3.8B
    Mar 26, 2025 to Mar 27, 2026
  • Accounts · 8,749 to 8,756
    Mar 25, 2024 to Mar 26, 2025
  • Charity clients · 15.0 to unset
    Mar 25, 2024 to Mar 26, 2025
  • Corporate clients · 55 to 36
    Mar 25, 2024 to Mar 26, 2025
  • HNW clients · 28 to 118
    Mar 25, 2024 to Mar 26, 2025
  • Individual clients · 6,417 to 6,515
    Mar 25, 2024 to Mar 26, 2025
  • Pension plan clients · 32 to 51
    Mar 25, 2024 to Mar 26, 2025
  • Financial planning clients · 101-250 to 101-250
    Mar 25, 2024 to Mar 26, 2025
  • Discretionary RAUM · $1.2B to $1.3B
    Mar 25, 2024 to Mar 26, 2025
  • HNW RAUM · $635M to $415M
    Mar 25, 2024 to Mar 26, 2025
  • Individual RAUM · $1.1B to $1.5B
    Mar 25, 2024 to Mar 26, 2025
  • Non-discretionary RAUM · $602M to $736M
    Mar 25, 2024 to Mar 26, 2025
  • Pension RAUM · $5.5M to $29.5M
    Mar 25, 2024 to Mar 26, 2025
  • RAUM · $1.8B to $2.0B
    Mar 25, 2024 to Mar 26, 2025
  • Accounts · 8,990 to 8,749
    Mar 30, 2023 to Mar 25, 2024
  • Charity clients · unset to 15.0
    Mar 30, 2023 to Mar 25, 2024
  • Corporate clients · 27 to 55
    Mar 30, 2023 to Mar 25, 2024
  • HNW clients · 277 to 28
    Mar 30, 2023 to Mar 25, 2024
  • Individual clients · 8,684 to 6,417
    Mar 30, 2023 to Mar 25, 2024
  • Pension plan clients · unset to 32.0
    Mar 30, 2023 to Mar 25, 2024
  • Discretionary RAUM · $1.3B to $1.2B
    Mar 30, 2023 to Mar 25, 2024
  • HNW RAUM · $447M to $635M
    Mar 30, 2023 to Mar 25, 2024
  • Individual RAUM · $1.0B to $1.1B
    Mar 30, 2023 to Mar 25, 2024
  • Non-discretionary RAUM · $181M to $602M
    Mar 30, 2023 to Mar 25, 2024
  • Pension RAUM · $563,329 to $5.5M
    Mar 30, 2023 to Mar 25, 2024
  • RAUM · $1.5B to $1.8B
    Mar 30, 2023 to Mar 25, 2024
  • Accounts · 9,031 to 8,990
    Mar 31, 2022 to Mar 30, 2023
  • Charity clients · 3.0 to unset
    Mar 31, 2022 to Mar 30, 2023
  • Corporate clients · 41 to 27
    Mar 31, 2022 to Mar 30, 2023
Signals
60 dated events
  • Paul Leonard Goenner left Bfc Planning, Inc. for Cambridge Investment Research Advisors, Inc. (registered 2026-08-31)
    Aug 31, 2026 · Advisor changed firm · fact
  • Amy L. Duncan left Bfc Planning, Inc. for Kestra Advisory Services, Llc (registered 2026-07-27)
    Jul 28, 2026 · Advisor changed firm · fact
  • Eric Alexander Duncan left Bfc Planning, Inc. for Kestra Advisory Services, Llc (registered 2026-07-28)
    Jul 28, 2026 · Advisor changed firm · fact
  • 2 advisors left Bfc Planning, Inc. (Cedar Rapids, IA) for Kestra Advisory Services, LLC on the same day
    Jul 28, 2026 · Team lift-out · derived
  • Christopher Clement Sherer left Bfc Planning, Inc. for Kovack Advisors, Inc. (registered 2026-06-05)
    Apr 20, 2026 · Advisor changed firm · fact
  • Bfc Planning, Inc. reported RAUM $3.8B, up 90% from $2.0B (2025-03-26 to 2026-03-27)
    Mar 27, 2026 · RAUM change · derived
  • Alan Roland Woolever left Bfc Planning, Inc. for Dmk Advisor Group, Inc. (registered 2026-03-02)
    Mar 17, 2026 · Advisor changed firm · fact
  • Anthony Edward Buford left Bfc Planning, Inc. for Berthel Fisher & Company Financial Services, Inc. (registered 2016-12-19)
    Mar 13, 2026 · Advisor changed firm · fact
  • Stuart Seffrood left Bfc Planning, Inc. for Ameriprise Financial Services, Llc (registered 2026-03-03)
    Mar 4, 2026 · Advisor changed firm · fact
  • Bret Alexander Hartman left Bfc Planning, Inc. for Cetera Investment Advisers Llc (registered 2026-01-26)
    Feb 3, 2026 · Advisor changed firm · fact
  • Royce Lee Cannon left Bfc Planning, Inc. for Quincy Wells Advisors, Llc (registered 2026-01-26)
    Feb 3, 2026 · Advisor changed firm · fact
  • Daniel Gerard Meehan left Bfc Planning, Inc. for Cape Investment Advisory, Inc. (registered 2026-08-21)
    Dec 15, 2025 · Advisor changed firm · fact
  • David Day left Bfc Planning, Inc. for J.P. Morgan Securities Llc (registered 2026-01-26)
    Dec 12, 2025 · Advisor changed firm · fact
  • Robert Mckay left Bfc Planning, Inc. for Nautical Star Financial Group Llc (registered 2025-12-05)
    Dec 3, 2025 · Advisor changed firm · fact
  • J. Kyle Haugen left Bfc Planning, Inc. for Cetera Investment Advisers Llc (registered 2026-01-06)
    Nov 21, 2025 · Advisor changed firm · fact
  • Gerard Stephen Diaz left Bfc Planning, Inc. for Wells Fargo Advisors (registered 2025-11-19)
    Nov 12, 2025 · Advisor changed firm · fact
  • David Greg Birrell left Bfc Planning, Inc. for Lpl Financial Llc (registered 2025-10-23)
    Oct 20, 2025 · Advisor changed firm · fact
  • Randal James Gabaldon left Bfc Planning, Inc. for Ameriprise Financial Services, Llc (registered 2025-09-16)
    Sep 16, 2025 · Advisor changed firm · fact
  • 2 advisors left Bfc Planning, Inc. (Dixon, IL) for Ameriprise Financial Services, LLC on the same day
    Sep 16, 2025 · Team lift-out · derived
  • Jeffrey Alan Haub left Bfc Planning, Inc. for Ameriprise Financial Services, Llc (registered 2025-09-12)
    Sep 16, 2025 · Advisor changed firm · fact
  • Stephen M Plackis left Bfc Planning, Inc. for Lpl Financial Llc (registered 2025-07-14)
    Jul 15, 2025 · Advisor changed firm · fact
  • John T Lund left Bfc Planning, Inc. for Ria Advisory Group, Llc (registered 2025-07-14)
    Jun 27, 2025 · Advisor changed firm · fact
  • Clifton Scott Johnson left Bfc Planning, Inc. for Dmk Advisor Group, Inc. (registered 2025-01-21)
    Jan 21, 2025 · Advisor changed firm · fact
  • Michael Rosenthal left Bfc Planning, Inc. for Upskill Wealth Management, Llc (registered 2024-10-29)
    Oct 28, 2024 · Advisor changed firm · fact
  • Christopher Michael Tasik left Bfc Planning, Inc. for United Advisor Group (registered 2024-10-28)
    Oct 28, 2024 · Advisor changed firm · fact
  • Augustus Grant Hames left Bfc Planning, Inc. for Jt Stratford, Llc (registered 2024-08-08)
    Aug 1, 2024 · Advisor changed firm · fact
  • Steven John Mrozek left Bfc Planning, Inc. for Blueprint Financial Advisors (registered 2024-07-29)
    Jul 29, 2024 · Advisor changed firm · fact
  • Taylor Jerome Ripka left Bfc Planning, Inc. for Lpl Financial Llc (registered 2024-06-07)
    Jun 7, 2024 · Advisor changed firm · fact
  • 2 advisors left Securities America Advisors, Inc. (North Mankato, MN) for Bfc Planning, Inc. on the same day
    Jun 3, 2024 · Team lift-out · derived
  • Roger Dean Frank left Bfc Planning, Inc. for Lpl Financial Llc (registered 2024-05-02)
    May 1, 2024 · Advisor changed firm · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
Firm profile
LINKEDIN.COM/COMPANY/BERTHEL-FISHER-&-COMPANY-FINANCIAL-SERVreportedpublic record, Form ADV, Sep 18, 2026
Website
BFCPLANNING.COMreportedpublic record, Form ADV, Sep 18, 2026
Principal office phone
319-447-5700reportedpublic record, Form ADV, Mar 27, 2026
Provenance
Form ADV
SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
Advisors
IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
Class
Broker-dealer affiliated wealth managerderiveda rule over Items 5.D and 7.A
RAUM per advisor
$16.7Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026