Berman McAleer provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, education planning, insurance, and philanthropic planning. Financial planning was provided to 251–500 clients last fiscal year.
Berman McAleer reports 649 clients. They include 382 high-net-worth individuals, 264 individual clients, and 3 corporations and other businesses. Of its assets, 100.0% ($1.82B across 2,467 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 41% | 6% |
| High-net-worth individuals | 59% | 90% |
| Corporations and other businesses | <1% | 5% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 264 | $106M | 5.8% | $402K |
| High-net-worth individuals | 382 | $1.63B | 89.6% | $4.27M |
| Corporations and other businesses | Fewer than 5 | $83.6M | 4.6% | $27.9M |
| Total | 649 | $1.82B | 100% | — |
- Clients
- 264
- Regulatory AUM
- $106M
- AUM share
- 5.8%
- Avg. per client
- $402K
- Clients
- 382
- Regulatory AUM
- $1.63B
- AUM share
- 89.6%
- Avg. per client
- $4.27M
- Clients
- Fewer than 5
- Regulatory AUM
- $83.6M
- AUM share
- 4.6%
- Avg. per client
- $27.9M
Total
- Clients
- 649
- Regulatory AUM
- $1.82B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Berman McAleer charges 0.20%–1.00% a year for its Asset Management Services. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable and requires an account of at least $1,500,000. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$2.5M | 1.00% |
| $2.5M–$7.5M | 0.75% |
| $7.5M–$15M | 0.50% |
| $15M–$25M | 0.30% |
| $25M and above | 0.20% |
Fee details and sources
Other fees
- Financial Planning
- Initial financial planning or consulting is a negotiable flat fee of $3,500 to $15,000; planning outside the normal scope is $450 to $700 per hour.
David Berman is CEO; the leadership team includes Chief Financial Officer William Bruns. It has 29 employees, 14 of them in advisory roles.
Leadership
- David BermanChief Executive Officer
- William BrunsChief Compliance Officer, Chief Financial Officer
- Andrew CookOwner
- Melanie HaganOwner
- Brett HolmesOwner
- John McAleerOwner
- Susan MitcheltreeOwner
- Patrick MonaghanOwner
- Adam MurrayOwner
Investment adviser representatives
13 representatives listed in the SEC register as of 9 October 2026.
- David Lee Berman
- Andrew Bruns
- Brian Dennis Carroll
- Andrew T Cook
- Genevieve M Crisera
- Melanie Dee Hagan
- Matthew James Hess
- Brett T Holmes
- John Joseph McAleer IV
- Susan Michele Mitcheltree
- Patrick Joseph Monaghan IV
- Adam R Murray
- Kimberly M. Silvestri
Staff
- 29 employees
- 14 in advisory functions
- 10 state-registered reps
- Owns 10% to 25% of Berman McAleer, LLC
David Berman
Control person · since September 2024
- Owns 10% to 25% of Berman McAleer, LLC
John McAleer
Control person · since September 2024
- Owns 10% to 25% of Berman McAleer, LLC
Patrick Monaghan
Control person · since September 2024
- Owns 10% to 25% of Berman McAleer, LLC
Andrew Cook
Control person · since September 2024
- Owns 10% to 25% of Berman McAleer, LLC
Susan Mitcheltree
Control person · since September 2024
- Owns 5% to 10% of Berman McAleer, LLC
William Bruns
Control person · since September 2024
Berman McAleer’s regulatory assets grew from $1.6B (June 2025) to $1.82B (September 2026); clients were 649 in both filings and employees were 29 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $1.82B | 649 | 29 | 3 |
| June 2025 | $1.6B | 647 | 29 | 2 |
Besides its headquarters, Berman McAleer has 2 offices, with 3 listed addresses in Florida, Maryland and New York.
Florida · 1 listed address
- 150 Palmetto Park Road, Boca Raton
Maryland · 1 listed address
- 9690 Deereco Road, Suite 800, TimoniumHQ
New York · 1 listed address
- 475 Park Avenue South, New York
Contact and registration details
- Legal name
- Berman McAleer, LLC
- Headquarters
- 9690 Deereco Road, Suite 800, Timonium, MD 21093
- Website
- bmcplanning.com
- Phone
- 410-560-9960
- @bermanmcaleerllc
- SEC file
- 801-131830
- Founded
- 2002
- Structure
- Maryland LLC
- Fiscal year end
- December
Berman McAleer uses Fidelity ($1.76B) as custodian for its separately managed accounts. Berman McAleer has custody of $430M in client assets for 246 clients.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $1.76B100%
At year end, Berman McAleer’s separately managed accounts were mostly in funds (91%). Its reported 13F holdings for the quarter ended 30 June 2026 total $864M across 175 positions; the largest are Invesco Exchange Traded FD T (9.8%), Starboard Invt TR (8.9%) and Dimensional ETF Trust (8.7%).
What the accounts hold
- Stocks6%
- Funds91%
- Bonds1%
- Cash2%
Reported 13F holdings
- $864M
- Reported 13F value
- 175
- Positions
- 61.8%
- In the 10 largest
- +17.8%
- Value vs. prior quarter
- Invesco Exchange Traded FD T · Rafi US 1000 ETF9.8%
- Starboard Invt TR · Adaptive Alpha8.9%
- Dimensional ETF Trust · Intl Core EQT MK8.7%
- Vanguard Index Fds · Mcap VL Idxvip7.0%
- iShares TR · Core S&P Scp ETF6.9%
- J P Morgan Exchange Traded F · Active Growth5.2%
- Vanguard Index Fds · Value ETF5.2%
- Schwab Strategic TR · Fundamental US L3.5%
- Invesco Exch Traded FD TR II · S&P500 Low Vol3.5%
- Fidelity Covington Trust · Enhanced Intl3.1%
Together, the ten largest are 61.8% of reported value.
How many clients does Berman McAleer have?
Berman McAleer has 649 clients and manages $1.82 billion for them, as of September 2026. They include 382 high-net-worth individuals, 264 individual clients, and 3 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 28 September 2026
What services does Berman McAleer offer?
Berman McAleer provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, education planning, insurance, and philanthropic planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Berman McAleer charge?
Berman McAleer charges 0.20%–1.00% a year for its Asset Management Services. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable and requires an account of at least $1,500,000.
Which custodians does Berman McAleer use?
Berman McAleer’s separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $1.76B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 28 September 2026
How many financial advisors does Berman McAleer have?
Berman McAleer has 10 investment adviser representatives registered with state securities authorities, out of 29 employees, and 14 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Berman McAleer invest in?
At the end of its last fiscal year, Berman McAleer’s separately managed accounts held 91% registered funds (mutual funds, ETFs, BDCs), 6% exchange-traded equities, 2% cash and equivalents and 1% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Berman McAleer have a minimum investment?
Yes, Berman McAleer’s minimum account size for its Asset Management Services is $1.5M.
Who owns Berman McAleer?
Berman McAleer’s direct owners are David Berman, John McAleer, Patrick Monaghan, Andrew Cook, Susan Mitcheltree and William Bruns, each holding 25% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 28 September 2026
How does Berman McAleer get paid?
Berman McAleer is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Berman McAleer?
Berman McAleer’s main office is at 9690 Deereco Road, Suite 800, Timonium, MD 21093. Its phone number is 410-560-9960. Its website is bmcplanning.com.