Alerus Financial
recordkeeper29 known aliases resolved via the canonical alias map
Market position · 2024
Plans served416-39 YoYRank #52 of mapped providers
Assets under administration$11.3B0.0%Market share · rank #1012
Fees received$18MMedian $32,996/planSum across Schedule C direct + indirect
Net wins YoY-3431 won · 65 lostPlan-level switch detection
Plans served · 5-year trajectory
Market-share plans percent annotated. Bar height is raw plan count.
Customer-base shape
What does a typical Alerus Financial plan look like?
Service mix · median fees per plan
Count of plans where Alerus Financial ships each service code, and the median compensation they report under it.
| Service | Plans | Median fees | Distribution |
|---|---|---|---|
Valuation (appraisals, etc.); Sub-transfer agency fees; Redemption fees; Trustee (bank, trust company, or similar financial institution); Consulting (pension); Named fiduciary; Participant loan processing; Investment management; Recordkeeping and information management (computing, tabulating, data processing, etc.)Code 15 | 383 | $33,605 | |
Trustee (bank, trust company, or similar financial institution)Code 21 | 10 | $47,171 | |
Recordkeeping fees; Custodial (securities); Trustee (directed); Participant loan processing; Contract AdministratorCode 13 | 8 | $5,493 | |
Investment advisory (plan); Direct payment from the planCode 27 | 4 | $37,383 | |
Recordkeeping fees; Direct payment from the plan; Investment management fees paid directly by planCode 50 | 3 | $8,642 | |
Other servicesCode 49 | 2 | $9,657 | |
Investment advisory (participants)Code 26 | 1 | $12,402 | |
Direct payment from the plan; Investment managementCode 28 | 1 | $25,705 |
Competitor overlap
Percent of Alerus Financial's plans that also list each competitor on Schedule C. High numbers = co-living partners; low numbers = direct displacement targets.
Plans won in 2024
Appeared this year; did not appear last year under Alerus Financial.
| Sponsor | From | Assets |
|---|---|---|
ACCESS PLANS, LLCTX · 853473108-006 | (new plan) | $126M |
ACCESS PLANS LLCTX · 853473108-005 | (new plan) | $75M |
MASLON, LLPMN · 410648239-001 | Advance Capital Group | $72M |
RYAN LAWN & TREE, INC.KS · 481078206-001 | CBIZ | $28M |
KSL ADVISORS, LLCCO · 203270347-001 | (new plan) | $21M |
A TO Z MACHINE CO., INC.WI · 391864014-001 | Associated Trust Company, N.A. | $18M |
LOOS MACHINE & AUTOMATION, LLCWI · 391031349-001 | (new plan) | $18M |
K & M TIRE, INC.OH · 341212834-001 | Empower | $17M |
MSPARK MEDIA, LLCAL · 934728035-001 | John Hancock | $15M |
GRANITE STATE CREDIT UNIONNH · 020227484-004 | iCapital LLC | $14M |
Plans lost in 2024
Appeared last year under Alerus Financial; not this year.
| Sponsor | To | Assets |
|---|---|---|
UNITED STATES STEEL CORPORATION AND AFFILIATED COS.PA · 251897152-001 | Evolution Credit Partners | $4.3B |
MARATHON CHEESE CORPORATIONWI · 390873270-001 | Milliman | $188M |
AG PARTNERS COOPMN · 411833687-001 | Intellicents | $66M |
BUIST ELECTRIC COMPANY, INC.MI · 382177580-001 | Principal | $64M |
COLES SALON, INC.MN · 411424867-001 | (new plan) | $43M |
GENTRY LOCKE RAKES & MOORE, LLPVA · 540540718-001 | Iron Fiduciary | $42M |
IMPRESSIONS, INCMN · 410916667-003 | (new plan) | $31M |
A.W. HOLDINGS LLC D/B/A BENCHMARK HUMAN SERVICESIN · 208906852-004 | Buckingham Asset Management LLC | $30M |
DONOR ALLIANCE, INC.CO · 841003771-003 | Kestra Advisory Services | $28M |
MOORE'S ELECTRICAL & MECHANICAL CONSTRUCTION, INC.VA · 541598347-001 | Raymond James & Associates, Inc. | $26M |
Top plans by assets
Searchable full list lands with the commercial layer.
| Plan | Assets | Participants | Fees | Tenure | Flags |
|---|---|---|---|---|---|
EIDE BAILLY LLPND · 450250958-001 | $615M | 4,012 | $275,309 | 10y | - |
JANE STREET GROUP, LLCNY · 901010033-001 | $521M | 2,078 | $48,544 | 10y | - |
ALTRU HEALTH SYSTEMND · 450310462-003 | $495M | 4,078 | $275,689 | 10y | - |
AVI SYSTEMS, INC.KS · 450321251-002 | $399M | 1,832 | $243,847 | 10y | - |
THE AMERICAN SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALSNY · 131623829-002 | $164M | 1,691 | $41,800 | 10y | - |
NORAN NEUROLOGICAL CLINIC, P.A.MN · 410984062-002 | $154M | 326 | $96,072 | 6y | - |
PERFORMANCE CONTRACTORS, INC.LA · 720875986-002 | $132M | 5,612 | $315,629 | 10y | - |
MIRON CONSTRUCTION CO., INC.WI · 390787083-001 | $131M | 553 | $277,075 | 10y | - |
FS BRANDS, INC.MA · 421771604-001 | $128M | 4,607 | $354,790 | 10y | - |
ACCESS PLANS, LLCTX · 853473108-006 | $126M | 4,157 | $217,443 | 1y | 2 |
Flag exposure
72.6%Market: 89.1%
This provider
Market baseline
Share of this provider's plans tripping any deterministic red flag this year. Lower than market baseline = better risk surface.
Aliases resolved (29)
Raw Schedule C names collapsed into Alerus Financial.
- ACTIVE CORE-PASSIVE TROUGH TARGET
- ACTIVE GRAPHICS, IC.
- ACTIVE-PASSIVE
- ACTIVE-PASSIVE/IRON-CO-FID-ORTH
- ACTIVUM SG FUND VI L.P.
- ACTUARIAL BENEFIRS CORP
- ALERUS
- ALERUS FIANANCIAL
- ALERUS FIANCIAL, N.A
- ALERUS FIANCIAL, N.A.
- ALERUS FINAICIAL, N.A.
- ALERUS FINANCIAL
- ALERUS FINANCIAL ATTN
- ALERUS FINANCIAL CORPORATION
- ALERUS FINANCIAL N. A.
- ALERUS FINANCIAL N.A
- ALERUS FINANCIAL N.A.
- ALERUS FINANCIAL NA
- ALERUS FINANCIAL,
- ALERUS FINANCIAL, N,A.
- ALERUS FINANCIAL, N. A.
- ALERUS FINANCIAL, N.A
- ALERUS FINANCIAL, N.A,
- ALERUS FINANCIAL, N.A,.
- ALERUS FINANCIAL, N.A.
Book composition by plan size
Bars stack to total plans served; segments use the same asset cutoffs as the /plans size filter. Up-and-to-the-right on the bigger segments = moving up-market.
Under $5M$5-50M$50-250M$250M-1B$1B+
Compliance posture vs market
Per-flag share for Alerus Financial's book against the same flag's overall prevalence across all filings. Negative delta = under-indexed (cleaner book); positive = elevated risk surface.
| Flag | Plans flagged | Provider % | Market % | Delta |
|---|---|---|---|---|
| Recently terminated | 15 | 3.61% | 7.76% | -4.16 pp |
| Fidelity bond gap | 21 | 5.05% | 26.94% | -21.89 pp |
| Late contributions | 71 | 17.07% | 1.71% | +15.35 pp |
| Failed to provide benefit | 0 | 0.00% | 0.14% | -0.14 pp |
| Corrective distributions | 28 | 6.73% | 1.76% | +4.97 pp |
| Loss discovered | 0 | 0.00% | 0.00% | -0.00 pp |
New-plan formation share
Share of plans filing for the first time each year that landed with Alerus Financial. Compare to the incumbent market share (0.6%) - higher = winning new business, lower = coasting on existing relationships.
0.0%-0.6 pp vs incumbent
Frequent partners by role
Who else shows up on Alerus Financial's plans most often. Switch tabs by counterparty role - high-overlap names are either referral channels (advisors, auditors) or competitive blocks (other recordkeepers).
| Partner | Shared plans | % of book |
|---|---|---|
| Alerus Investment Advisors, Inc. | 26 | 6.3% |
| Intellicents | 14 | 3.4% |
| BAM Advisor Services LLC | 11 | 2.6% |
| Global Retirement Partners LLC | 7 | 1.7% |
| Orgel Wealth Management LLC | 6 | 1.4% |
| RBC Wealth Management | 5 | 1.2% |
| Chesme Capital Management | 4 | 1.0% |
| ACCREDITED INVESTOR SERVICES, LLC | 3 | 0.7% |
| Carlson Capital Management | 3 | 0.7% |
| Advisor's Pride | 2 | 0.5% |
Geographic penetration index
(Provider plans in state / state plans) divided by the provider's overall share of the market. Index 1.00 = average; > 1 = over-indexed (winning more than their fair share); < 1 = under-indexed (white space).