Benson Financial Group
Benson Financial Group is a privately held, faith-based wealth management firm founded in 1996, operating through LPL Financial with 6 advisors across Hannibal, MO and Quincy, IL. It serves individual and family clients in the tri-state area with holistic financial, retirement, investment, tax, and insurance planning.
- Company typePrivate
- Founded1996
- HeadquartersHannibal, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Benson Financial Group does
Benson Financial Group (BFG) is a privately held wealth management and financial advisory firm founded in 1996 by Pat Benson, headquartered in Hannibal, Missouri with a second office in Quincy, Illinois opened in April 2023. The firm operates as an independent practice that delivers its securities and advisory services through LPL Financial (a registered investment advisor and FINRA/SIPC member), with its own advisors holding Series 6, 7, 63, 65, and 66 registrations. Its core service suite spans six integrated offerings: financial planning, retirement planning, investment planning, asset management, insurance planning and risk management, and tax planning.
The firm's underlying technology stack is built on third-party infrastructure rather than proprietary systems: LPL Financial provides the regulatory platform, custody, and trading backbone; Right Capital powers client-facing financial plan visualization; and Account View delivers online account access. Third-party Calcxml calculators support client education. No proprietary software, APIs, or AI/ML capabilities are disclosed.
BFG monetizes through two revenue streams routed via LPL Financial: fee-based advisory services (recurring fees on managed assets) and securities commissions (transactional fees on investment product sales). Distribution is relationship-led and field-based, conducted through face-to-face meetings at two physical offices, supplemented by phone, video conferencing, and a "book-a-meeting" lead capture flow. New client acquisition is driven primarily by community referrals, church networks, and existing client relationships within the tri-state area (Missouri, Illinois, Iowa), reinforced by content marketing (blog, monthly BFG newsletter) and event marketing (client appreciation events, the planned 30th anniversary dinner). The firm explicitly differentiates on a Christian-values-based planning philosophy through its affiliation with Kingdom Advisors.
Benson Financial Group firmographics
Firmographics- Name
- Benson Financial Group
- Legal name
- Benson Financial Group
- Website
- https://bensonfinancialgroup.com
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Benson Financial Group is a privately held, faith-based wealth management firm founded in 1996, operating through LPL Financial with 6 advisors across Hannibal, MO and Quincy, IL. It serves individual and family clients in the tri-state area with holistic financial, retirement, investment, tax, and insurance planning.
- Ownership category
- akta.pro rank
Benson Financial Group industry classification
Industry- Product category
- Wealth Management
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)
- akta.pro secondary industries
- Investment Management Advisory (RIA) (FSAEAAAB), Financial Planning–Led RIAs (FSAAACAB), Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)
Keywords
Where Benson Financial Group is headquartered
LocationHeadquarters
- HQ city
- Hannibal
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Benson Financial Group business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Advisory Services: Fee-based financial advisory services offered through LPL Financial, a registered investment advisor. Services include financial planning, retirement planning, investment planning, asset management, insurance planning, and tax planning.
- Securities Commissions: Securities and advisory services offered through LPL Financial with FINRA registration, generating commission revenue on investment products.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Benson Financial Group product offering
Product offeringCore offering
Benson Financial Group is a privately held wealth management and financial advisory firm that delivers six integrated core services — financial planning, retirement planning, investment planning, asset management, insurance planning and risk management, and tax planning — to individual and family clients. Securities and advisory services are offered through LPL Financial, a registered investment advisor and FINRA/SIPC member, with the firm's advisors holding FINRA Series 6, 7, 63, 65 and 66 registrations. Services are delivered by a team of six financial advisors across two office locations in Hannibal, MO and Quincy, IL.
Product overview
Benson Financial Group offers a comprehensive suite of wealth management and financial advisory services through six integrated core service offerings. The firm's services include Financial Planning (holistic financial analysis), Retirement Planning (evidence-based income preservation strategies), Investment Planning (tailored investment management), Asset Management (asset preservation and growth), Insurance Planning and Risk Management (protection against life events), and Tax Planning (tax diversification and efficiency strategies). All services are delivered through LPL Financial as a registered investment advisor, with services provided by a team of financial advisors across two office locations in Hannibal, MO and Quincy, IL.
Differentiator
Problem solved
Functional benefit
Products and services
- Financial Planning Comprehensive financial planning services that go beyond general savings and investing advice, helping individual and family clients understand their full financial picture holistically. Delivered through LPL Financial as a registered investment advisor.
- Retirement Planning Evidence-based retirement planning services focused on preserving income, minimizing taxes, and navigating risks that could impact clients' future retirement security. Designed for individuals and families approaching or in retirement.
- Investment Planning Investment management services that build strategies tailored to match clients' financial goals, considering the purpose of funds, their use and long-term objectives. Delivered through LPL Financial as a registered investment advisor.
- Asset Management Asset management services helping individual clients and families manage their accumulated assets to ensure they are available when needed, focused on preservation and growth over the client's lifetime.
- Insurance Planning and Risk Management Insurance planning and risk management services providing protection against illnesses, natural disasters, accidents and other life events that could threaten clients' financial stability. Includes property and casualty, Medicare supplemental, life and long-term care insurance products.
- Tax Planning Tax planning strategies including tax diversification analysis, tax-sensitive investment strategies, Roth conversions, RMD optimization and tax-efficient distribution planning, designed to integrate with the firm's retirement and investment services.
Companies that use Benson Financial Group
Customer profileSegments1 record
Ideal customer profiles1 record
Benson Financial Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Benson Financial Group partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- Kingdom AdvisorscoreNational faith-based organization that equips Christian financial professionals to integrate faith and biblical principles into financial advice. BFG advisors are members and regularly attend annual Kingdom Advisors conferences. The organization shapes BFG's faith-driven investing approach and provides peer support and professional development.
- Faithfully Nurturing Children (FNC) AcademyminorBFG has been involved with FNC since its founding. FNC is a school in Kampala, Uganda that provides education, housing, meals, medical care, and spiritual development for students. BFG team members sponsor students and have traveled to Uganda. Pat and Connie Benson serve on the FNC Advisory Board.
Scale indicators3 records
Recent moves7 records
Expansion highlights5 records
Benson Financial Group competitors and assessment
Company assessmentBroad incumbents
- Ameriprise Financial: Large wealth management and advisory franchise with thousands of independent advisors delivering financial planning, investments, insurance, and retirement products. Comparable due to similar advisor-led holistic financial planning model.
- Creative Planning: One of the largest independent RIAs in the U.S. providing comprehensive wealth management, tax, estate, and retirement planning to individuals and families. Comparable as a larger-scale RIA operating in the same holistic planning category.
- Baird: Privately held, employee-owned wealth management and investment bank with a strong regional Midwest branch network serving individuals and families. Comparable for relationship-driven model and similar geographic footprint overlap.
- Edward Jones: Large national broker-dealer with a deeply relationship-led, branch-based advisory model serving individuals and families in smaller and mid-sized U.S. communities. Comparable due to similar face-to-face distribution and Main Street client focus.
- Stifel Financial: Full-service broker-dealer and wealth management firm with a large independent advisor network across the U.S. Comparable as a broad incumbent offering investment advisory, retirement, and insurance services through affiliated advisors.
- Raymond James Financial: Major diversified financial services firm with a large independent advisor channel offering wealth management, retirement planning, and insurance. Comparable as an established incumbent providing the same multi-service offering BFG delivers at smaller scale.
Emerging players
- Carson Group: Growing RIA platform and coach/peer-support organization serving independent advisors with technology, compliance, and business development resources. Comparable as an emerging platform serving advisor-led firms in adjacent faith- and values-aligned segments.
Direct peers
- Thrivent Financial: Faith-based financial services company that integrates investment advisory, insurance, and retirement planning through a member-owned, values-driven model. Most directly comparable peer given shared Christian financial planning orientation and broad service suite.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Benson Financial Group social profiles
Digital presenceBenson Financial Group compliance and trust
Trust signalCompliance2 records
Benson Financial Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Benson Financial Group leadership team
Management profileNumber of profiles
Profiles17 records
Benson Financial Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Benson Financial Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Benson Financial Group
What does Benson Financial Group do?
Benson Financial Group is a privately held wealth management and financial advisory firm that delivers six integrated core services — financial planning, retirement planning, investment planning, asset management, insurance planning and risk management, and tax planning — to individual and family clients. Securities and advisory services are offered through LPL Financial, a registered investment advisor and FINRA/SIPC member, with the firm's advisors holding FINRA Series 6, 7, 63, 65 and 66 registrations. Services are delivered by a team of six financial advisors across two office locations in Hannibal, MO and Quincy, IL.
Is Benson Financial Group a public or private company?
Benson Financial Group is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Benson Financial Group founded?
Benson Financial Group was founded in 1996. It employs 11 to 50 people.
Where is Benson Financial Group based?
Benson Financial Group is headquartered in Hannibal, United States, in the North America region.
How does Benson Financial Group make money?
Two revenue lines are on record. Advisory Services are the primary driver. The others are securities Commissions.
Who are Benson Financial Group's main competitors?
Broad incumbents on record are Ameriprise Financial, Creative Planning, Baird, Edward Jones, Stifel Financial and Raymond James Financial. Carson Group is listed as an emerging player. Thrivent Financial is listed as a direct peer.
Does Benson Financial Group have an API?
No public API is recorded for Benson Financial Group.
What industry is Benson Financial Group in?
Benson Financial Group's product category is Wealth Management. Its primary akta.pro industry code is FSAEABAA, Registered Investment Advisor (RIA) Wealth Management, with a secondary code of FSAEAAAB, Investment Management Advisory (RIA). Its NAICS code is 523940 and its SIC code is 6282.