Bergankdv Wealth Management, LLC

CRD#143038
Investment Advisor Firm

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Learn more about Bergankdv Wealth Management, LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Bergankdv Wealth Management, LLC is an advisory company located in Minneapolis, Minnesota. It manages $2.1 billion in assets throughout 2,977 accounts, making it one of the largest financial advisory firms in the country by assets under management (AUM). It has a small group, including 23 financial advisors. Bergankdv Wealth Management, LLC does not act as a registered broker-dealer, signifying that the company is not able to buy and sell securities for its accounts and those of its clients and instead has to go through a broker-dealer company to do so. Securities are defined as exchangable fiscal investments such as options, bonds and equities.

    Bergankdv Wealth Management, LLC oversees 2,379 of the company's client assets on a discretionary basis. Discretionary management signifies that buy and sell choices for the client's account are made by a portfolio manager without requiring the client's authorization. The firm also has 598 non-discretionary accounts totaling $1.1 billion in AUM. Bergankdv Wealth Management, LLC's typical account size is $698,848. The average financial advisor at Bergankdv Wealth Management, LLC oversees about 129 client accounts.

    The firm's main office is at 3800 American Blvd, Minneapolis, Minnesota 55431. The company is permitted to serve investors throughout 14 U.S. states and territories.

    Assets Under Management

    $2.1 billion

    Number of Advisors

    23

    Disclosures

    No

    Office Location

    3800 American Blvd
    Minneapolis, MN 55431

    Bergankdv Wealth Management, LLC by the Numbers

    Total Assets Under Management

    $2.1 billion

    National Average: $8.6 billion
    Total Number of Employees

    33

    National Average: 64
    Total Number of Accounts

    2,977

    National Average: 375,227
    Average Account Size

    $698.8 thousand

    National Average: $23.0 thousand
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    Products and Services

    Bergankdv Wealth Management, LLC offers a variety of services, including financial planning services, portfolio management for individuals and small businesses, pension consulting services and selection of other advisers. In the prior fiscal year, the firm provided 251-500 of its clients with financial planning services. It does not sell products or offer services apart from investment advisory services to its investment advisory accounts. Bergankdv Wealth Management, LLC also has a number of financial industry affiliations, including with an accountant or accounting firm.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fees charged by financial advisors usually vary depending on which services the firm provides the client. Fee types billed by the firm likely include some combination of the following fee types: asset-based, hourly or fixed. The firm does not participate in a wrap fee program, in which the company offers a service bundle for a comprehensive fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 21% of firms

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    Unavailable

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    Back to Overview

    Types of Clients

    Bergankdv Wealth Management, LLC does business with a broad range of clients. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, corporations and other. Out of its 2,977 accounts, Bergankdv Wealth Management, LLC's largest client type by number of accounts is retail investors, but it also manages money for 347 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 in AUM or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's customers are from outside of the U.S.

    • High-Net-Worth Individuals* - 32.61%
    • Other Individuals - 50.56%
    • Corporations - 16.73%
    • Charitable Organizations - 0.09%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Bergankdv Wealth Management, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Bergankdv Wealth Management, LLC

    Samuel Rouman
    Minneapolis, MN
    Angela Thomas
    Minneapolis, MN
    Thomas Landreville
    Minneapolis, MN
    Abigail Lubozynski
    Minneapolis, MN
    Matthew Cosgriff
    Minneapolis, MN
    Adam Heathcote
    Minneapolis, MN
    Timothy Ronning
    Minneapolis, MN
    Theodore Nahas
    Minneapolis, MN
    David Peyton
    Minneapolis, MN

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    The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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