Berno Financial Management Inc (Cincinnati)

Name: Berno Financial Management Inc
Address: 7454 Jager Court, Cincinnati, OH, 45230 4344
Telephone: 513-474-9191

Berno Financial Management Inc is a large advisory firm based in Cincinnati. It manages $194.3 million of regulatory assets for 611 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Kentucky and Ohio.

Berno Financial Management provides financial planning services, portfolio management for individuals and small businesses, publication of newsletters, and consultation services. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Berno Financial Management: assets under management

The assets under management (AUM) of Berno Financial Management Inc is $194.3 million. The firm's AUM has grown by 397% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $172.94 million in discretionary accounts and $21.35 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $315.59 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $338.96 thousand.

Berno Financial Management has custody of $175.14 million in cash and securities for 124 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 87% of the total AUM. The second-largest asset type is exchange traded securities, which make up 5% of the firm’s portfolio. Investments in non-exchange traded securities form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Berno Financial Management Inc for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Bruce John Berno serves?

The only and largest group of clients of Bruce John Berno is high net worth individuals with 124 clients and $194.3 million of assets under management. Among the 7 most similar advisory firms, Berno Financial Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $194.3 million for 124 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.

Berno Financial Management doesn't advise any private funds.

Careers at Berno Financial Management Inc

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Bruce John Berno has been acting as President since 1 Jun 1993. Karen Marie Berno joined the executive team most recently as the Secretary.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Bruce John Berno	President	1 Jun 1993	75% - 100%	2050975
Karen Marie Berno	Secretary	1 Jun 1993	Other	4361821
Bruce John Berno	Chief compliance officer	1 Jan 2004	75% - 100%	2050975

Based in Cincinnati

The principal office where Berno Financial Management Inc performs its advisory services is located at 7454 Jager Court, Cincinnati, OH 45230 4344, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 513-474-9191 or by fax 513-474-2889. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at bernofinmgt.com.