Independent broker-dealer Berthel Fisher & Company Financial Services Inc. has gained $450 million in assets under management in a deal that gives it 26 registered representatives from another broker-dealer.
Berthel Fisher & Company Financial Services, based in Marion, Iowa, announced yesterday that it signed an agreement to recruit and transfer 26 registered reps from Milkie Ferguson Investments Inc. in Dallas.
Milkie Ferguson client accounts with $450 million in assets were transferred to Berthel Fisher on June 22. Transition of the accounts and re-licensing to Berthel Fisher is nearly completed. Berthel Fisher did not acquire any assets or liabilities of the Milkie Ferguson firm, the company added.
Berthel Fisher & Company Financial Services offers financial products and services as well as investment advice to investors in all 50 states through 385 offices. The firm is a subsidiary of Berthel Fisher & Company, a financial holding company that also owns Securities Management and Research Inc., a broker-dealer with 300 reps, and BFC Planning Inc., a registered investment advisor.