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
Berger Financial Group
Legal name Berger Financial Group, LLC
Latest filing Sep 3, 2026
First filing on the tape May 15, 2020 · 20 filings
SEC status approved since Jun 16, 2020
RAUM
$2.9B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
99%
$2.9B individuals and HNW
Advisors
52
registered through the firm on IAPD
RAUM per advisor
$56.7M
derived; firm RAUM over IAPD count
Employees
89
57 advisory (5.B.1)
Offices
9
beyond the principal office
Private funds
0
reported on Schedule D
History
20 filings and snapshots on the tape
RAUM$2.9B as of Aug 13, 2026
Mar 16, 2021$1.0B then
HNW client RAUM$866M as of Aug 13, 2026
Mar 16, 2021$626M then
State-registered IARs (5.B.3)46 as of Aug 13, 2026
Mar 16, 202119 then
Employees (5.A)89 as of Aug 13, 2026
Mar 16, 202140 then
Private funds: no history
RAUM +18% over the last fiscal year+29% a year over threeIARs 40 to 46offices 8 to 9
Practice profile
derived from the filing of Sep 3, 2026; every figure names its basis
Archetypes, each a printed rule
- Mass-affluent RIA · private-client share at least 50 percent, non-HNW individuals at least 60 percent of private-client RAUM
- Planning-led practice · financial planning activity (5.G.1), at least 100 financial planning clients (5.H), and hourly, fixed or subscription compensation (5.E)
- RAUM per advisor
- $57.8MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 74derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.1MderivedHNW RAUM over HNW clients
- Average account
- $264,733derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.7derivedItem 5.A over advisors
- Advisors per office
- 5.1derived10 offices incl. principal (1.F.5)
- RAUM growth, one year
- +18%derivedbetween the last two annual amendments
- Advisor growth, one year
- +15%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +2.3%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, educational seminarsreportedItem 5.G
- Financial planning clients
- 648reportedItem 5.H
- Custody
- $1.3B, 3,626 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
- is an insurance broker or agent (6.A.6)
- 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)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Individuals$2.1B70%
- High-net-worth individuals$866M29%
- Corporations and businesses$11.1M0.4%
- State and municipal entities$3.8M0.1%
- Charitable organizations$2.4M0.1%
- Individual clients
- 2,942reported
- HNW clients
- 813reported
- Pension plan clients
- n/areported
- Charitable clients
- 5reported
- Accounts
- 11,139reported
- Financial planning clients
- 648reported
- Wrap fee programs
- noreported
- Custody of client assets
- $1.3B for 3,626 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.99 fund_share=0.0 institutional_share=0.0 related_bd= related_bank= bd_reps=0.0derived
Advisors registered through the firm
48 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Seth Wilfred Wagner | Plymouth, Mn | Jul 31, 2020 | 10 y | 1 |
| Amy Elizabeth Fracaro-Choate | South Burlington, Vt | Jul 31, 2020 | 33 y | 2 |
| Mark Allen BergerCertified Financial Planner | Plymouth, Mn | Jul 31, 2020 | 23 y | 2 |
| Blaine Micah ConklinChartered Financial Analyst | Plymouth, Mn | Jul 31, 2020 | 24 y | 2 |
| Robert Stephen SmrekarCertified Financial Planner | Plymouth, Mn | Jul 31, 2020 | 29 y | 2 |
| Angela Marie EricksonCertified Financial Planner | Plymouth, Mn | Jul 31, 2020 | 22 y | 2 |
| Kim Harold LillehaugCertified Financial Planner | Plymouth, Mn | Jul 31, 2020 | 31 y | 1 |
| Nicholas Robert Asmus | Plymouth, Mn | Jul 31, 2020 | 21 y | 2 |
| Larry Allen BergerCertified Financial Planner | Plymouth, Mn | Jul 31, 2020 | 41 y | 1 |
| Kristi Lyn Sanz | Plymouth, Mn | Aug 4, 2020 | 19 y | 2 |
| Rachel Marie Meyer | Plymouth, Mn | Dec 7, 2020 | 28 y | 0 |
| Ryan Thomas KompelienCertified Financial Planner | Plymouth, Mn | Feb 9, 2021 | 11 y | 0 |
| Krista Masera | Plymouth, Mn | Feb 17, 2021 | 14 y | 1 |
| Rebecca Lynn Lantzer | Bloomington, Mn | Feb 22, 2021 | 23 y | 1 |
| Lisa Cherie Greely | Plymouth, Mn | Apr 9, 2021 | 32 y | 1 |
| Troy Ray | Sun City, Az | Oct 22, 2021 | 11 y | 1 |
| Nicholas A Albert | Plymouth, Mn | Nov 30, 2021 | 18 y | 1 |
| Rebecca White FettermanCertified Financial Planner | Plymouth, Mn | Feb 11, 2022 | 10 y | 2 |
| Matthew Jacob Gibbs | Plymouth, Mn | May 6, 2022 | 12 y | 2 |
| Eric Kautzman | Plymouth, Mn | Aug 8, 2022 | 15 y | 2 |
| Anthony Harold Reynolds | Plymouth, Mn | Aug 8, 2022 | 10 y | 2 |
| Eric Chatfield Hansen | Plymouth, Mn | Oct 2, 2022 | 22 y | 0 |
| Lucas Charles AugerCertified Financial Planner | Plymouth, Mn | Oct 20, 2022 | 11 y | 1 |
| Adam Jared Bjorklund | Plymouth, Mn | Feb 14, 2023 | 18 y | 1 |
| Paul Vincent Klinges | Plymouth, Mn | Aug 29, 2023 | 14 y | 1 |
| Dale Lawrence Tondryk | Minnetonka, Mn | Nov 14, 2023 | 39 y | 2 |
| Adam Schoepke | Plymouth, Mn | Dec 21, 2023 | 13 y | 0 |
| Richard Lee StoneCertified Financial Planner | Springfield, Il | Jan 24, 2024 | 36 y | 1 |
| Morgan Anne PadgetCertified Financial Planner | Plymouth, Mn | Feb 2, 2024 | 10 y | 2 |
| Nicholas Robert GordonCertified Financial Planner | Springfield, Il | Feb 4, 2024 | 15 y | 1 |
| Michael James Toay | Ft Pierce, Fl | Jul 11, 2024 | 43 y | 1 |
| Carter James Morrissette | Plymouth, Mn | Oct 4, 2024 | 12 y | 1 |
| Andrew Jonathan WixonCertified Financial Planner | Plymouth, Mn | Oct 11, 2024 | 16 y | 1 |
| Steven Michael Klane | Plymouth, Mn | Oct 24, 2024 | 20 y | 1 |
| William Brian WixonCertified Financial Planner, Chartered Financial Consultant | Plymouth, Mn | Nov 13, 2024 | 37 y | 1 |
| Amanda Bracklein | Plymouth, Mn | Dec 12, 2024 | 10 y | 0 |
| Sam Pirozzolo | Plymouth, Mn | Jan 13, 2025 | 11 y | 0 |
| Zach Shelby | Plymouth, Mn | Jul 3, 2025 | 18 y | 0 |
| Blake Paurus | Plymouth, Mn | Jul 23, 2025 | 11 y | 0 |
| April Therease BortschellerCertified Financial Planner | Plymouth, Mn | Nov 5, 2025 | 19 y | 1 |
Advisor movement
1 left, 5 joined in 12 months
net +4 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 1.9% of current headcount2 left over 36 months
Left, latest
- Jack Waletich to Kure Advisory, LLCOct 24, 2025 · RIA to RIA
- Christine Michelle Thomas to True Vision Financial AdvisorsNov 7, 2023 · RIA to RIA
- Anne M Schwab to Schwab Wealth Advisory, Inc.Apr 7, 2023 · Other
Joined, latest
- Gabriel Michael Chase from Mcadam LLCMar 2, 2026 · RIA to RIA
- Todd Ernst from Cetera Investment Advisers LLCJan 5, 2026 · Affiliated broker-dealer or bank to independent RIA
- Matthew Chad Hoekstra from Cetera Investment Advisers LLCDec 10, 2025 · Affiliated broker-dealer or bank to independent RIA
- Roland Andrew Garland from Transamerica Retirement Advisors, LLCDec 9, 2025 · Affiliated broker-dealer or bank to independent RIA
- April Therease Bortscheller from Cambridge Investment Research Advisors, Inc.Nov 5, 2025 · Affiliated broker-dealer or bank to independent RIA
- William Brian Wixon from Wixon Advisors, Inc.Nov 13, 2024 · RIA to RIA
- Steven Michael Klane from Klane Wealth Management, LLCOct 24, 2024 · Other
- Andrew Jonathan Wixon from Wixon Advisors, Inc.Oct 11, 2024 · RIA to RIA
- Carter James Morrissette from Boulay WealthOct 4, 2024 · RIA to RIA
- Michael James Toay from Eden Prairie Capital Management And Consulting LLCJul 11, 2024 · Other
- Nicholas Robert Gordon from Robert Gordon & Associates IncFeb 4, 2024 · RIA to RIA
- Morgan Anne Padget from J.P. Morgan Securities LLCFeb 2, 2024 · Wirehouse to independent RIA
- Richard Lee Stone from Robert Gordon & Associates IncJan 24, 2024 · RIA to RIA
- Dale Lawrence Tondryk from Tondryk Wealth Management, LLCNov 14, 2023 · Other
- Paul Vincent Klinges from Harvest Asset Group, LLCAug 29, 2023 · RIA to RIA
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Wixon Advisors, Inc.Dec 31, 2024 · Maple Grove, Mn
- 2 joined from Robert Gordon & Associates IncFeb 7, 2024 · Springfield, Il
- 2 joined from Independent Financial Group, LLCFeb 8, 2021 · Bloomington, Mn
- 2 joined from Cambridge Investment Research Advisors, Inc.Aug 26, 2020 · South Burlington, Vt
- 13 joined from Cambridge Investment Research Advisors, Inc.Aug 24, 2020 · Plymouth, Mn
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Robert Nicholas Asmus · Chief Executive Officer & Presidentcontrolsince 07/2026 · owns less than 5%
- Allen Larry Berger · Financial Advisor, Chairmancontrolsince 05/2020 · owns less than 5%
- Allen Mark Berger · Chief Compliance Officer, Principal, Board Membercontrolsince 05/2020 · owns 10% to 25%
- Therease April Bortscheller · Secretary & Treasurercontrolsince 07/2026 · owns less than 5%
- Marie Angela Erickson · Advisor, Board Membercontrolsince 05/2020 · owns less than 5%
- Douglas John Mackinnon · Chief Compliance Officercontrolsince 09/2026 · owns less than 5%
- John Patrick Noll · Chief Financial Officercontrolsince 05/2020 · owns less than 5%
- Matthew Neil Brozen · Trusteesince 05/2020 · owns 50% to 75%
Entity owners
- Alpha Holdings LLC · Ownerdirect · owns 75% or more
- Berger Financial Group Employee Stock Ownership Plan · Trustdirect · owns 50% to 75%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Plymouth, Mn · principal | 47 | 8 | 1 | ||
| New Prague, Mn | 4 | 4 | 0 | ||
| Springfield, Il | 4 | 1 | 0 | ||
| South Burlington, Vt | 3 | 1 | 0 | ||
| Bloomington, Mn | 2 | 0 | 0 | ||
| Sun City, Az | 2 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- S. Burlington, VT5 employees
- Springfield, IL4 employees
- Sun City West, AZ3 employees
- Scottsdale, AZ3 employees
- Bloomington, MN2 employees
- Portland, ME1 employees
- Monticello, MN1 employees
- Minnetonka, MN1 employees
- , 1 employees
ADV anomalies
5 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Sep 3, 2026MACKINNON, JOHN, DOUGLAS (CHIEF COMPLIANCE OFFICER) appeared on Schedule A between the filings of 2020-05-15 and 2026-09-03peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Sep 3, 2026BERGER, LARRY, ALLEN (FINANCIAL ADVISOR, CHAIRMAN) left Schedule A between the filings of 2020-05-15 and 2026-09-03peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Sep 3, 2026BERGER, MARK, ALLEN (CHIEF COMPLIANCE OFFICER, PRINCIPAL, BOARD MEMBER) left Schedule A between the filings of 2020-05-15 and 2026-09-03peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Sep 3, 2026ERICKSON, ANGELA, MARIE (ADVISOR, BOARD MEMBER) left Schedule A between the filings of 2020-05-15 and 2026-09-03peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Sep 3, 2026NOLL, PATRICK, JOHN (CHIEF FINANCIAL OFFICER) left Schedule A between the filings of 2020-05-15 and 2026-09-03peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Financial planning clients · More than 500 to More than 500Aug 13, 2026 to Sep 3, 2026
- Related adviser · false to unsetAug 13, 2026 to Sep 3, 2026
- Related bank · false to unsetAug 13, 2026 to Sep 3, 2026
- Related broker-dealer · false to unsetAug 13, 2026 to Sep 3, 2026
- Related insurance company · false to unsetAug 13, 2026 to Sep 3, 2026
- Succession · false to unsetAug 13, 2026 to Sep 3, 2026
- Legal name · BERGER FINANCIAL GROUP, INC. to BERGER FINANCIAL GROUP, LLCMar 9, 2026 to Aug 13, 2026
- Organization form · Corporation to Limited Liability CompanyMar 9, 2026 to Aug 13, 2026
- Accounts · 10,333 to 11,139Feb 20, 2025 to Mar 9, 2026
- Advisory employees · 54 to 57Feb 20, 2025 to Mar 9, 2026
- Charity clients · 4 to 5Feb 20, 2025 to Mar 9, 2026
- Corporate clients · 9 to 37Feb 20, 2025 to Mar 9, 2026
- HNW clients · 324 to 813Feb 20, 2025 to Mar 9, 2026
- Individual clients · 3,346 to 2,942Feb 20, 2025 to Mar 9, 2026
- Assets in custody · $1.1B to $1.3BFeb 20, 2025 to Mar 9, 2026
- Employees · 70 to 89Feb 20, 2025 to Mar 9, 2026
- State-registered IARs · 40 to 46Feb 20, 2025 to Mar 9, 2026
- Other offices · 8 to 9Feb 20, 2025 to Mar 9, 2026
- Discretionary RAUM · $2.5B to $2.9BFeb 20, 2025 to Mar 9, 2026
- HNW RAUM · $943M to $866MFeb 20, 2025 to Mar 9, 2026
- Individual RAUM · $1.6B to $2.1BFeb 20, 2025 to Mar 9, 2026
- RAUM · $2.5B to $2.9BFeb 20, 2025 to Mar 9, 2026
- Accounts · 7,117 to 10,333Jan 6, 2025 to Feb 20, 2025
- Advisory employees · 52 to 54Jan 6, 2025 to Feb 20, 2025
- Charity clients · unset to 4.0Jan 6, 2025 to Feb 20, 2025
- Corporate clients · 5 to 9Jan 6, 2025 to Feb 20, 2025
- HNW clients · 243 to 324Jan 6, 2025 to Feb 20, 2025
- Individual clients · 2,742 to 3,346Jan 6, 2025 to Feb 20, 2025
- Assets in custody · $462M to $1.1BJan 6, 2025 to Feb 20, 2025
- Employees · 64 to 70Jan 6, 2025 to Feb 20, 2025
- Financial planning clients · More than 500 to More than 500Jan 6, 2025 to Feb 20, 2025
- State-registered IARs · 35 to 40Jan 6, 2025 to Feb 20, 2025
- Other offices · 9 to 8Jan 6, 2025 to Feb 20, 2025
- Discretionary RAUM · $1.7B to $2.5BJan 6, 2025 to Feb 20, 2025
- HNW RAUM · $569M to $943MJan 6, 2025 to Feb 20, 2025
- Individual RAUM · $1.1B to $1.6BJan 6, 2025 to Feb 20, 2025
- RAUM · $1.7B to $2.5BJan 6, 2025 to Feb 20, 2025
- Accounts · 6,706 to 7,117Nov 15, 2023 to Mar 22, 2024
- Advisory employees · 50 to 52Nov 15, 2023 to Mar 22, 2024
- BD registered reps · 1 to 0Nov 15, 2023 to Mar 22, 2024
Signals
9 dated events
- Gabriel Michael Chase no longer holds an investment adviser registration (last listed at Berger Financial Group on the 2026-09-15 feed)Sep 15, 2026 · Advisor registration ended · derived
- Jack Waletich left Berger Financial Group for Kure Advisory, Llc (registered 2025-10-29)Oct 24, 2025 · Advisor changed firm · fact
- Berger Financial Group reported RAUM $2.5B, up 51% from $1.7B (2025-01-06 to 2025-02-20)Feb 20, 2025 · RAUM change · derived
- 2 advisors left Wixon Advisors, Inc. (Maple Grove, MN) for Berger Financial Group on the same dayDec 31, 2024 · Team lift-out · derived
- 2 advisors left Robert Gordon & Associates Inc (Springfield, IL) for Berger Financial Group on the same dayFeb 7, 2024 · Team lift-out · derived
- Christine Michelle Thomas left Berger Financial Group for True Vision Financial Advisors (registered 2023-11-02)Nov 7, 2023 · Advisor changed firm · fact
- Anne M Schwab left Berger Financial Group for Charles Schwab & Co., Inc. (registered 2025-09-12)Apr 7, 2023 · Advisor changed firm · fact
- Berger Financial Group reported RAUM $1.5B, up 39% from $1.0B (2021-03-16 to 2022-03-23)Mar 23, 2022 · RAUM change · derived
- Berger Financial Group filed its initial SEC registration (Form ADV)May 15, 2020 · 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.
How to reach
public business contact points only, each with its source
- Business email
- dzahner@bergerfinancialgroup.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- ekrautbauer@bergerfinancialgroup.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- hannah@bergerfinancialgroup.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- justin@bergerfinancialgroup.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- kim@bergerfinancialgroup.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- bjentink@bergerfinancialgroup.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 207-775-1151reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 217-535-4949reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 217-698-4844reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/berger-financial-group-increportedpublic record, Form ADV, Sep 17, 2026
- Website
- bergerfinancialgroup.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 763-746-2666reportedpublic record, Form ADV, Sep 3, 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
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $56.7Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026