Bfc Planning, Inc. (Cedar Rapids)

Name: Bfc Planning, Inc.
Address: 4201 42 Nd Street Ne, Cedar Rapids, IA, 52402
Telephone: 319-447-5700

Bfc Planning, Inc. is a large advisory firm based in Cedar Rapids. It manages $821.51 million of regulatory assets for 6,041 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 40 other states.

Bfc Planning provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bfc Planning: assets under management

The assets under management (AUM) of Bfc Planning, Inc. is $821.51 million. The firm's AUM has grown by 10314% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $808.72 million in discretionary accounts and $12.8 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $139.1 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $56.37 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 45% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 39% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Bfc Planning, Inc. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Bfc Planning serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Bfc Planning is individuals with 5,827 clients and $618.32 million of assets under management. Among the 8 most similar advisory firms, Bfc Planning has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $821.51 million for 6,037 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Bfc Planning doesn't advise any private funds.

Careers at Bfc Planning, Inc.

The company employs 204 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 204 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Thomas Joseph Berthel	Ceo	1 Mar 1989	Other	823289
Ronald Odin Brendengen	Treasurer/c00	1 Mar 1989	Other	1675332
Berthel Fisher & Company	Shareholder	1 Mar 1989	75% - 100%	42-1254805
Leslie Donald Smith	Secretary	1 May 1995	Other	2866640
Randy Austin Wilcox	Chief compliance officer	1 Apr 2011	Other	4346998
Daniel Peter Wegmann	Cfo	1 Feb 2012	Other	2222357
Joanna Marie Schaul	Secretary	1 Sep 2014	Other	4947759
Andrew James Christofferson	Chief operating office (a/o 03/2019), chief compliance officer (a/0 07/2019)	1 Apr 2015	Other	3248381
Andrew James Christofferson	Svp business development	1 Mar 2017	Other	3248381
Paige Nichole Swartzendruber	Svp business development (a/o 07/2019)	1 Mar 2017	Other	4575768
Andrew James Christofferson	Chief business development officer	1 Nov 2017	Other	3248381
Steve Chester Hannah	Chief information officer	1 Nov 2017	Other	6864494
Brian Rupp	Vice president/controller	1 Nov 2017	Other	6721718
Randy Austin Wilcox	Regional vp business development western region	1 May 2018	Other	4346998
Erin Kathleen Burke	Chief compliance officer and risk officer	1 May 2018	Other	4225081
Levi Tyler Reeves	Vice president of trading & surveillance	1 Apr 2019	Other	6938270

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Thomas Joseph Berthel	Ceo	1 Nov 1984	25% - 50%	823289
Inc. Fbl Financial Group	Shareholder	1 Sep 2006	25% - 50%	42-1411715

Based in Cedar Rapids

The principal office where Bfc Planning, Inc. performs its advisory services is located at 4201 42 Nd Street Ne, Cedar Rapids, IA 52402, which is also the mailing address of the firm. An additional office of the firm is in Burlington, IA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 319-447-5700 or by fax 319-447-4244. The normal business hours are mon-thurs:8am-5pm;fri:8am-4pm on Monday - Friday. You can find more information about the New York firm at bfcplanning.com.