Berthel Fischer sees sharp decline in commissions, turns to building RIA
June 21, 2021 By Bruce Kelly, Investment News Revenues have dropped sharply, as much as 40%, at the broker-dealer over the past seven years as the industry moved away from commissions from alternative investments to recurring revenue from managed money products. Berthel Fischer & Co. Financial Services Inc., an Iowa-based broker-dealer well known for selling high-commission alternative investments, has shifted its strategy to focus more on recurring revenues from fee-based assets at its registered investment adviser, according to the firm’s CEO and chair, Thomas Berthel. Annual revenues have dropped sharply, as much as 40%, at the broker-dealer over the past seven years as the industry moved away from commissions from alternative investments to recurring revenue from managed money products. The change in strategy began four to five years ago, Berthel wrote in an email to...
