Bernardi Asset Management, LLC
Registered investment adviser · Northfield, IL · CRD #120110
Form ADV data as of 2026-09-01Regulatory assets
$331.0 million
Total accounts
146
Employees
22
Disclosure events
3
Firm details
- Website: https://www.bernardisecurities.com/
- Telephone: 312-281-2021
- SEC file number: 801-68608
- Most recent Form ADV filing: 2025-11-19
- SEC record: View this firm on the SEC's IAPD site
Disciplinary disclosures
This firm reports 3 disclosure questions answered Yes, covering 3 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.
- SEC or CFTC found a violation of its regulations or statutes
- SEC or CFTC entered an order in connection with investment-related activity
- SEC or CFTC imposed a civil money penalty or a cease-and-desist order
Assets and accounts
| Provides continuous and regular supervisory or management services | Yes |
| Discretionary regulatory assets under management | $331.0 million |
| Non-discretionary regulatory assets under management | $0 |
| Total regulatory assets under management | $331.0 million |
| Discretionary accounts | 146 |
| Non-discretionary accounts | 0 |
| Total accounts | 146 |
| Regulatory assets under management attributable to non-U.S. persons | $0 |
People
| Total employees (excluding clerical) | 22 |
| Employees performing investment advisory functions (including research) | 10 |
| Employees who are registered representatives of a broker-dealer | 17 |
| Employees registered as investment adviser representatives with a state | 12 |
| Employees registered as IARs for another investment adviser | 0 |
| Employees who are licensed insurance agents | 0 |
| Firms or persons who solicit advisory clients on the firm's behalf | 2 |
Custody
| Has custody of client cash or bank accounts | No |
| Has custody of client securities | No |
| A related person has custody of client cash or bank accounts | No |
| A related person has custody of client securities | No |
| The firm acts as a qualified custodian | No |
| A related person acts as a qualified custodian | No |
| Number of persons acting as qualified custodians for the firm's clients | 6 |
How the firm is compensated
Advisory services offered
Affiliated related persons
Reported conflicts of interest
Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:
- Buys securities from or sells securities to advisory clients (principal transactions)
- Buys or sells for itself securities it also recommends to clients
- Brokers or dealers selected under 8.C.(3) are related persons
- Recommends brokers or dealers to clients
- Brokers or dealers recommended under 8.E. are related persons
- Compensates a non-employee for client referrals
Client types
| Type of client | Clients | Assets |
|---|---|---|
| Individuals (other than high net worth individuals) | 26 | $3.6 million |
| High net worth individuals | 28 | $137.3 million |
| State or municipal government entities (including government pension plans) | 5 | $35.4 million |
| Other investment advisers | 7 | $121.2 million |
| Insurance companies | 1 | $16.8 million |
| Corporations or other businesses not listed above | 2 | $16.7 million |