Helping investors get better financial advice
Helping investors get better financial advice
We are investor advocates focused on improving financial literacy related to the selection of financial advisors.
Dave Bromelkamp is an investor advocate and founder of AdvisorSmart®. After working for more than 30 years serving investors as a financial advisor, he decided in 2018 to use his financial industry experience and expertise to establish AdvisorSmart® to help investors to get better financial advice. He is passionate about objective financial advice and is leading the firm’s efforts to educate investors about the best approach to find and retain objective, fee-only financial advisors.
He is also the founder of Allodium Investment Consultants (www.allodium.com) which is an independent, fee-only Registered Investment Advisory firm in Minneapolis, Minnesota. Dave led the effort to help Allodium to become the first Minneapolis-based Registered Investment Advisory (RIA) firm to earn the esteemed CEFEX certification. The independent CEFEX Investment Advisor certification demonstrates fiduciary excellence for a firm based on a fiduciary best practice standard. He is the chief executive officer of Allodium and serves on the firm’s Executive Committee and Investment Committee where the firm oversees hundreds of millions in investment portfolio assets. He has more than 35 years of investment management consulting experience with both institutional and individual investors.
Dave was formerly a senior vice president with RBC Dain Rauscher for 18 years, where he led a team of investment management consultants providing investment advisory services to both fiduciary clients and accredited investors. He was a founding member of the Senior Consulting Group at RBC Dain Rauscher, which represented a group of the firm's leading investment management consultants. Working for 18 years for an investment securities brokerage firm gave Dave an opportunity to learn firsthand how Registered Representatives of a brokerage firm are trained, compensated, motivated and managed.
He started his career in finance as a Certified Public Accountant (CPA). After graduating from college he passed the Uniform CPA exam and then joined the Minnesota Society of Certified Public Accountants (MNCPA) in 1986 where he has been a member for more than 37 years. While working for various public accounting firms, he provided general income tax, auditing and accounting services for both individual and corporate clients. He also supported lead income tax, auditing and accounting partners in delivering accounting services to a diverse client base. Dave is still a member of the MNCPA but is now licensed as an "inactive CPA".
He has been admitted as a member of the Center for Board Certified Fiduciaries™ (CBCF™) and holds the professional designation of Board Certified Fiduciary™ (BCF™). This designation represents peer acknowledgment of his professional knowledge, skills, work experience and special expertise in the following fiduciary fields of specialization: ESG/SRI and Foundations & Endowments.
Dave holds the Accredited Investment Fiduciary® (AIF®) Designation from the Center for Fiduciary Studies and was one of the founding members of the Minnesota Fiduciary Roundtable, established by graduates of the Center for Fiduciary Studies as an open forum for sharing and promoting fiduciary standards and best practices.
Dave loves organizing and presenting educational presentations. He is a public speaker and speaks frequently to professional trade associations on the best practices of fiduciary investment management. He is also a teacher and has taught continuing professional education courses on fiduciary investment management for the Minnesota Society of Certified Public Accountants (MNCPA) and the Minnesota State Bar Association. He has also taught graduate courses as an adjunct instructor in finance at the Opus College of Business at the University of St. Thomas in Saint Paul, Minnesota.
Dave has served as a director on the nonprofit boards of both the Minnesota Society of Certified Public Accountants and Catholic Charities of St. Paul & Minneapolis. He is currently a member of the Planned Giving Committee at St. John’s University in Collegeville, Minnesota and previously served as a founding member and director on the board of the Center for Board Certified Fiduciaries™ (CBCF™).
He is an author and expects to release his first book about selecting a financial advisor in the Fall of 2024.
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