Berthel Fisher & Co. Financial Services Inc.
A subsidiary of Berthel Fisher & Co.
Clearing firm: National Financial Services LLC
No. advisers: 240
No. franchises: 197
Year founded: 1982
Year end: Dec. 31
Recruitment & Staffing
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| No. of reps | 223 | 240 | 245 |
| No. of reps, male | — | — | — |
| No. of reps, female | — | — | — |
| No. of producing reps | — | — | 245 |
| No. of producing reps, male | — | — | — |
| No. of producing reps, female | — | — | — |
| No. of reps producing $100K-$499K /year | — | — | 111 |
| No. of reps producing $500K+ /year | — | — | 19 |
| No. of CFPs | — | — | 21 |
| No. of full-time employees | — | — | 67 |
| No. of fee-based advisers served | — | — | 226 |
| Average payout per rep, per year | — | — | $163,300 |
| Avg. annual production of top 20% reps | — | — | $523,660 |
| Total payout, per year | — | — | $40,024,881 |
| Cost of E&O insurance per rep, per year | 3549 | 3556 | 3552 |
| Affiliation fees charged per rep, per year | 1656 | 1619 | 1531 |
| Affiliation fee coverage | All FINRA fees, SIPC renewal, Fidelity bond, Medallion Stamp, FSI fee, Cybersecurity | All FINRA fees, SIPC renewal, Fidelity bond, Medallion Stamp, FSI fee, Cybersecurity | All FINRA fees, SIPC renewal, Fidelity bond, Medallion Stamp, FSI fee, Cybersecurity |
| $0-$249,999 | $250K-$499,999 | $500K-$749,999 | $750K-$999,999 | $1,000,000+ | |
|---|---|---|---|---|---|
| Mutual funds | 86%-90% | 86%-90% | 86%-90% | 86%-90% | 86%-90% |
| Insurance | 86%-90% | 86%-90% | 91%-95% | 91%-95% | 91%-95% |
| Variable annuities | 86%-90% | 86%-90% | 86%-90% | 86%-90% | 86%-90% |
| Limited parterships | 81%-85% | 81%-85% | 86%-90% | 86%-90% | 86%-90% |
| Securities | 81%-85% | 81%-85% | 86%-90% | 86%-90% | 86%-90% |
| Required minimum production | $50,000 | ||||
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total revenues | — | — | $52,419,235 |
| Commission revenues | — | — | $25,525,288 |
| Securities revenues | — | — | $3,550,344 |
| Securities revenues: Stocks | — | — | $2,788,136 |
| Securities revenues: Bonds | — | — | $180,818 |
| Securities revenues: ETFs | — | — | 0 |
| Securities revenues: Other | — | — | $581,390 |
| Mutual fund revenues | — | — | $8,812,366 |
| Annuities revenues | — | — | $13,177,081 |
| Annuities revenues: Fixed | — | — | $3,851,180 |
| Annuities revenues: Variable | — | — | $9,325,901 |
| Annuities revenues: Other | — | — | — |
| Insurance revenue | — | — | $322,566 |
| Insurance revenues: Life | — | — | 0 |
| Insurance revenues: Disabilities | — | — | 0 |
| Insurance revenues: LTC | — | — | 0 |
| Insurance revenues: Other | — | — | $322,566 |
| Alternative revenues | — | — | $3,689,701 |
| Alternative revenues: Hedge funds | — | — | 0 |
| Alternative revenues: Managed futures | — | — | 0 |
| Alternative revenues: Private placements | — | — | — |
| Alternative revenues: REITs | — | — | $1,343,301 |
| Alternative revenues: Other | — | — | $2,346,400 |
| Other commission revenues | — | — | — |
| Fee revenues | — | — | $17,858,085 |
| Fee revenues: Rep-managed accounts | — | — | $10,412,087 |
| Fee revenues: Firm-managed accounts | — | — | 0 |
| Fee revenues: Outside-managed accounts | — | — | $6,941,392 |
| Fee revenues: Other | — | — | $504,606 |
| Total revenues: Other | — | — | $5,009,092 |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Total account assets | — | — | $5,974,420,000 |
| Fee-based assets | — | — | $1,420,300,000 |
| Fee-based assets: Clearing firm | — | — | $923,195,000 |
| Fee-based assets: Advisory firm platforms | — | — | — |
| Fee-based assets: Third-party money managers | — | — | $355,075,000 |
| Fee-based assets: Other | — | — | $142,030,000 |
| Total account assets: Other | — | — | $4,554,120,000 |
| Average assets per rep | 0 | — | $24,385,388 |
| Social Media & Mobile | |||
| Software Offered | |||
| Account aggregation software | eMoney 360 (eMoney Advisor) Envestnet Investigo/Broadridge DST Vision Professional |
||
| Compliance software | RegEd Built in house/Proprietary |
||
| CRM | Redtail CRM (Redtail Technology) Salesforce CRM (Salesforce.com) Built in house/Proprietary |
||
| Document management | Redtail Imaging (Redtail Technology) Built in house/Proprietary |
||
| Financial planning | eMoney360 (eMoney Advisor) MoneyGuidePro (PIEtech Inc.) Morningstar Advisor Workstation (Morningstar Inc.) NaviPro Planning Suite (Advicent, formerly Zywave) Silver Financial Planner/Silver Online (Money Tree Software Inc.) Thomson One Wealth Management (Thomson Reuters) |
||
| Portfolio management | Envestnet (Envestnet) Morningstar Office (Morningstar Inc.) Morningstar Principia CAMS (Morningstar Inc.) PortfolioCenter (Schwab Performance Technologies) |
||
| Portfolio rebalancing | Fidelity Wealth Central (Fidelity Institutional Wealth Services) iRebal, the Intelligent Rebalancer (ThinkTech Inc.) TradeWarrior (TradeWarrior Inc.) |
||
| Robo-advice | |||
| Offers robo-advisory platform? | N | ||
| If not, when plans to offer a robo-platform | 0-6 months | ||
| Robo-advice services offered | — | ||
| How robo-platform developed | — | ||
| Charge for robo-advisory services? | — | ||
- Notes
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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