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Updated September 28, 2026. Quick answer: Bernzott Capital Advisors is registered with the SEC as an investment adviser (CRD #104583, listed as ACTIVE in the SEC’s IAPD firm summary, checked October 25, 2026). Per its own current fee brochure, a $500,000 account would run $5,000 a year under its published fee schedule. This review covers what its own fee brochure and current SEC registration confirm today; it does not assess fiduciary status.
Bernzott Capital Advisors at a glance
| Fact | What Bernzott Capital Advisors’ own pages say |
|---|---|
| Legal entity | Bernzott Capital Advisors |
| Registration | Bernzott Capital Advisors is registered with the SEC as an investment adviser (CRD #104583, listed as ACTIVE in the SEC’s IAPD firm summary, checked October 25, 2026). |
| Fee on a $500,000 account | $5,000 a year, per its own current brochure |
| Minimum to open an account | $1 million for private clients and $10 million for institutional clients, which the firm may waive at its discretion (Item 7 of its Form ADV Part 2A) |
| Cost to leave (exit fee) | No fee to terminate an account; a final fee is prorated by days (Form ADV Part 2A) |
What Bernzott Capital Advisors’ own fee schedule charges
Bernzott Capital Advisors is the registered adviser, a Camarillo, California firm known for small-cap value investing, and the SEC record lists no name other than spelling variants of the same name. The priced figure is the Private Clients schedule, which covers individual and high net worth clients, and the Institutional schedule that applies to larger institutional relationships is not used.
“Private Clients Asset-based Fee The asset-based fee is generally paid quarterly, in arrears based upon the prior quarter-end statement value of the account as computed by the account custodian, according to the following tiered fee schedule: Assets Under Management Annual Fee First $2 million 1.00% Next $3 million 0.75% Above $5 million 0.50%”
The schedule is worded as First, Next and Above amounts, so each rate is applied only to the band it covers, with the bands stacked. The brochure says multiple accounts for one client relationship can be combined to determine fee breaks, and that fees are billed quarterly in arrears. The firm states it does not impose a minimum annual fee, so no floor applies. The brochure adds that in special circumstances the firm may negotiate a lower fee in its sole discretion, so the schedule is the firm’s published rate rather than a guaranteed charge.
The table below is the firm’s own advisory fee schedule. Fund expenses, custodian charges and any third-party manager or platform fees are generally separate from an advisory fee like this one; Item 5 of the brochure lists what applies to a given account.
| Account balance | Annual fee |
|---|---|
| $250,000 | $2,500 |
| $500,000 | $5,000 |
| $1,000,000 | $10,000 |
| $2,000,000 | $20,000 |
These figures come directly from Bernzott Capital Advisors’ own current fee brochure, cited in Sources below.
Registration
Bernzott Capital Advisors is registered with the SEC as an investment adviser (CRD #104583, listed as ACTIVE in the SEC’s IAPD firm summary, checked October 25, 2026).
This is a registration confirmation only, not a fiduciary-standard verdict (a registered investment adviser can still be a dual registrant with a broker-dealer, which changes which standard applies in each capacity).
What it costs to leave
Bernzott’s Form ADV Part 2A says it does not charge any fees to establish or terminate an account, and that if a client relationship is terminated before quarter-end it assesses a final billing prorated for the number of days in the quarter that the account was under its management. Any transfer charge from your custodian is separate and is not stated in the brochure. The general mechanics of switching financial advisors and a dated termination letter apply regardless of firm.
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- Form ADV Part 2A (March 31, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1041976
- SEC IAPD firm summary (CRD #104583, checked September 28, 2026): https://adviserinfo.sec.gov/firm/summary/104583
Methodology. This page was built September 28, 2026, drawing directly on Bernzott Capital Advisors’ own current fee brochure, cited in Sources below, and a fresh SEC IAPD registration check run the same day. Where exit-fee facts are cited, they trace to the firm’s own Form ADV Part 2A. Any fact we could not independently confirm is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading Bernzott Capital Advisors’ own Form ADV Part 2A and Form CRS. We have not used Bernzott Capital Advisors as a client. Bernzott Capital Advisors did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.