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.

Former SEC-registered adviser

Bernicke Wealth Management, Ltd.

Former SEC-registered adviserAltoona, WisconsinCRD 164892SEC 801-77179IAPD
Latest filing Jun 24, 2020
First filing on the tape Sep 17, 2012 · 19 filings
RAUM
$344M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
91%
$312M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
17
8 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
19 filings and snapshots on the tape
RAUM$344M as of Mar 27, 2020
Jan 24, 2013$106M then
HNW client RAUM$161M as of Mar 27, 2020
Mar 30, 2018$75.8M then
State-registered IARs (5.B.3)8 as of Mar 27, 2020
Jan 24, 20134 then
Employees (5.A)17 as of Mar 27, 2020
Jan 24, 201317 then
Private funds: no history
RAUM +28% over the last fiscal year+20% a year over threeIARs 10 to 8
Practice profile
derived from the filing of Jun 24, 2020; every figure names its basis
RAUM per advisor
$43.0MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
79derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.4MderivedHNW RAUM over HNW clients
Average account
$216,561derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
9.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
2.1derivedItem 5.A over advisors
Advisors per office
8.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+28%derivedbetween the last two annual amendments
Advisor growth, one year
-20%derivedItem 5.B.3 between annual amendments
Client growth, one year
-1.2%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, educational seminarsreportedItem 5.G
Wrap fee program
$344MreportedItem 5.I
Custody
$113M, 289 clientsreportedItem 9.A
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)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$161M47%
  • Individuals$151M44%
  • Charitable organizations$31.1M9.0%
  • Corporations and businesses$862,7290.3%
Individual clients
515reported
HNW clients
118reported
Pension plan clients
n/areported
Charitable clients
2reported
Accounts
1,589reported
Financial planning clients
251-500reported
Wrap fee programs
$0 sponsored, $0 managedreported
Custody of client assets
$113M for 289 clientsreported
Compensation
% of AUM, fixedreported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • Alan Ty Bernicke · Chief Executive Officercontrol
      since 10/2012 · owns 75% or more
    • Christopher Ryan Todd · Chief Compliance Officercontrol
      since 06/2020 · owns less than 5%
    Related persons
    Schedule D 7.A
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Related adviser · false to true
      Mar 27, 2020 to Jun 24, 2020
    • Accounts · 1,579 to 1,589
      Jan 21, 2020 to Mar 27, 2020
    • Advisory employees · 10 to 8
      Jan 21, 2020 to Mar 27, 2020
    • Charity clients · unset to 2.0
      Jan 21, 2020 to Mar 27, 2020
    • Corporate clients · unset to 2.0
      Jan 21, 2020 to Mar 27, 2020
    • HNW clients · 86 to 118
      Jan 21, 2020 to Mar 27, 2020
    • Individual clients · 555 to 515
      Jan 21, 2020 to Mar 27, 2020
    • Assets in custody · $86.6M to $113M
      Jan 21, 2020 to Mar 27, 2020
    • Employees · 23 to 17
      Jan 21, 2020 to Mar 27, 2020
    • State-registered IARs · 10 to 8
      Jan 21, 2020 to Mar 27, 2020
    • Discretionary RAUM · $269M to $344M
      Jan 21, 2020 to Mar 27, 2020
    • HNW RAUM · $95.4M to $161M
      Jan 21, 2020 to Mar 27, 2020
    • Individual RAUM · $145M to $151M
      Jan 21, 2020 to Mar 27, 2020
    • RAUM · $269M to $344M
      Jan 21, 2020 to Mar 27, 2020
    • Accounts · 1,427 to 1,579
      Mar 30, 2018 to Mar 27, 2019
    • Advisory employees · 9 to 10
      Mar 30, 2018 to Mar 27, 2019
    • Advisory activities · 6 to 5
      Mar 30, 2018 to Mar 27, 2019
    • HNW clients · 74 to 86
      Mar 30, 2018 to Mar 27, 2019
    • Individual clients · 520 to 555
      Mar 30, 2018 to Mar 27, 2019
    • Assets in custody · $80.7M to $86.6M
      Mar 30, 2018 to Mar 27, 2019
    • Employees · 26 to 23
      Mar 30, 2018 to Mar 27, 2019
    • Financial planning clients · 0 to 251-500
      Mar 30, 2018 to Mar 27, 2019
    • State-registered IARs · 6 to 10
      Mar 30, 2018 to Mar 27, 2019
    • Discretionary RAUM · $249M to $269M
      Mar 30, 2018 to Mar 27, 2019
    • HNW RAUM · $75.8M to $95.4M
      Mar 30, 2018 to Mar 27, 2019
    • Individual RAUM · $150M to $145M
      Mar 30, 2018 to Mar 27, 2019
    • RAUM · $249M to $269M
      Mar 30, 2018 to Mar 27, 2019
    • Accounts · 1,280 to 1,427
      May 31, 2017 to Mar 30, 2018
    • Advisory employees · 6 to 9
      May 31, 2017 to Mar 30, 2018
    • Advisory activities · 5 to 6
      May 31, 2017 to Mar 30, 2018
    • BD registered reps · 6 to 8
      May 31, 2017 to Mar 30, 2018
    • HNW clients · unset to 74.0
      May 31, 2017 to Mar 30, 2018
    • Individual clients · unset to 520.0
      May 31, 2017 to Mar 30, 2018
    • Assets in custody · unset to 80679285.0
      May 31, 2017 to Mar 30, 2018
    • Custody of client assets · false to true
      May 31, 2017 to Mar 30, 2018
    • Financial planning clients · unset to 0
      May 31, 2017 to Mar 30, 2018
    • Other offices · unset to 0.0
      May 31, 2017 to Mar 30, 2018
    • Discretionary RAUM · $202M to $249M
      May 31, 2017 to Mar 30, 2018
    • HNW RAUM · unset to 75796185.0
      May 31, 2017 to Mar 30, 2018
    • Individual RAUM · unset to 149501997.0
      May 31, 2017 to Mar 30, 2018
    Signals
    5 dated events
    • Renee Karlyn Etheridge (Chief Compliance Officer) no longer on Schedule A of Bernicke Wealth Management, Ltd. (listed 2020-03-27, absent 2020-06-24)
      Jun 24, 2020 · Control person left · inference
    • Christopher Ryan Todd (Chief Compliance Officer) appeared on Schedule A of Bernicke Wealth Management, Ltd.
      Jun 24, 2020 · Control person joined · fact
    • Gregory Michael Brahmer (Chief Operations Officer) no longer on Schedule A of Bernicke Wealth Management, Ltd. (listed 2019-03-27, absent 2019-11-05)
      Nov 5, 2019 · Control person left · inference
    • Bellerm Wealth Advisors, Llc reported succeeding to the business of Another Adviser (Form ADV Item 4)
      Oct 15, 2012 · Succession (Item 4) · fact
    • Bellerm Wealth Advisors, Llc filed its initial SEC registration (Form ADV)
      Sep 17, 2012 · First SEC registration · fact
    Across DFX
    shared identifiers only, never a name match
    No identifier-backed link to the venture, private equity, family office or sponsor graphs.
    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
    Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
    RAUM per advisor
    n/aderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026