Wealth manager, independent · Plymouth, MN
Berger Financial Group
Berger Financial Group, LLC · SEC-registered investment adviser · CRD 308174 · SEC 801-118923
At a glance
Berger Financial Group is an SEC-registered investment adviser based in Plymouth, Minnesota, with $2.9B in regulatory assets under management as of its Form ADV filed September 3, 2026. It reports 3,755 individual clients, 813 of them high-net-worth, holding an average of about $0.8 million each, and 89 employees. That ranks it 368th among the nation’s 5,657 independent wealth management RIAs and 9th of 140 in Minnesota. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 763-746-2666bergerfinancialgroup.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $2.9B
- Rank among independent wealth managers
- #368 of 5,657
- Rank among all SEC RIAs
- #2,856 of 17,210
- Rank in Minnesota
- #9 of 140
- Individual clients
- 3,755
- High-net-worth clients
- 813
- Accounts
- 11,139
- Discretionary
- 100% of AUM
- Employees
- 89
- Advisory staff
- 57
- Offices
- 10
Owners and executives on its Form ADV
- Nicholas R. AsmusChief Executive Officer & President
- April T. BortschellerSecretary & Treasurer
- John D. MackinnonChief Compliance Officer
Custody and brokerage
Broker-dealer
No broker-dealer ties
Berger Financial Group reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Individuals | 2,942 | $2.1B | 70% |
| High-net-worth individuals | 813 | $866M | 29% |
| Corporations or other businesses | 37 | $11M | <1% |
| State or municipal government entities | 3 | $4M | <1% |
| Charitable organizations | 5 | $2M | <1% |
Disciplinary disclosures
Berger Financial Group reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗bergerfinancialgroup.com ↗
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- Assets, accounts, clients and staff, 5 years of filings
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- Rank against 1,385 peers of its type and size
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Minnesota
All of Minnesota →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Accredited Investors Wealth ManagementEdina | $4.4B | 942 |
| Advisornet Wealth PartnersMinnetonka | $3.1B | 3,499 |
| Boulay WealthEden Prairie | $3.0B | 1,096 |
| Tradition Wealth Management LLCEdina | $2.6B | 2,155 |
| Compass Capital Management IncMinneapolis | $2.6B | 379 |
| Stonebridge Capital Advisors LLCSt. Paul | $2.5B | 1,609 |
Background
Questions
How much does Berger Financial Group manage?
Berger Financial Group reports $2.9B in regulatory assets under management across 11,139 accounts, 100% of it on a discretionary basis, on its Form ADV filed September 3, 2026.
How many clients does Berger Financial Group have?
It reports 3,755 individual clients: 813 high-net-worth individuals and 2,942 other individuals. Individuals account for about 99% of its regulatory assets.
Where is Berger Financial Group headquartered?
Its main office is in Plymouth, Minnesota. It reports 10 offices in total and 89 employees, 57 of whom perform investment advisory functions.
How does Berger Financial Group charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Berger Financial Group use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed September 3, 2026, it reports these amounts held: Charles Schwab ($1.6B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Berger Financial Group a hybrid RIA with a broker-dealer?
Berger Financial Group reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Berger Financial Group a fiduciary?
As an SEC-registered investment adviser, Berger Financial Group owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. It reports no employees who are registered representatives of a broker-dealer.
Where these numbers come from
Every figure is Berger Financial Group’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-09-03), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →