Patrick J. Scherven

EFS ADVISORS

Brooklyn Park, MN 55445

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CRD#: 2677945

Professional summary

Patrick Jon Scherven, who also goes by Pj Scherven, is a registered financial advisor currently at EFS ADVISORS located in Brooklyn Park, Minnesota and ADVANCED ADVISOR GROUP, LLC located in Brooklyn Park, Minnesota.

Patrick is registered as an IAR (Investment Advisor Representative) and RR (Registered Representative) and started their career in finance in 1995. Patrick has worked at 8 firms and has passed the Series 66, Series 63, SIE, Series 7 and Series 6 exams.

Question & Answer

Are you a "fiduciary"?

Yes

Aliases

Pj Scherven

Other business activities

Outside business activity is any business or activity undertaken by an advisor that is outside the scope of their relationship with their firm (e.g., consulting services, real estate, freelance work, teaching, etc.). Investors should stay informed about these activities to ensure no conflicts of interest.

Scherven Financial LLC, INV, Mound MN, Pass Through Entity LLC, Owner, 03/01/2019, 2 hours per month, 0 hours per month during trading hours, Other Compensation, Scherven Financial LLC is established for tax purposes to facilitate compensation for 1099 employee services. It functions as a pass-through entity for business-related activities associated with EFS Advisors. The LLC does not engage in any separate or additional business activities beyond this function. There is no direct compensation.

Blog Corner

CRS (Client Relationship Summary) - RIA

Click below to view Patrick Jon Scherven's CRS (Customer Relationship Summary).

CRS (Customer Relationship Summary)

Certified licenses

Advisors may have various certifications and credentials from different organizations. AdvisorCheck highlights these seven certifications - AIF®, CFP®, ChFC®, CFA, CLU®, CIMA®, CPWA®

None

Experience

Current

March 24, 2009 - Present

EFS ADVISORS

Office #1: 9210 Wyoming Ave N #200, Brooklyn Park, MN 55445

RIA

CRD#: 115211

Brooklyn Park, MN

Current

October 5, 2006 - Present

ADVANCED ADVISOR GROUP, LLC

Office #1: 9210 Wyoming Ave. N. #200, Brooklyn Park, MN 55445

RIA

CRD#: 140393

Brooklyn Park, MN

Past

November 4, 2013 - December 10, 2018

ADVANCED ADVISOR GROUP, LLC

RIA

CRD#: 140393

MOUND, MN

Past

February 15, 2005 - October 9, 2006

MM ASCEND LIFE INVESTOR SERVICES, LLC

CRD#: 36451

CINCINNATI, OH

Past

March 21, 2003 - February 15, 2005

PMG SECURITIES CORPORATION

CRD#: 27107

ELGIN, IL

Past

June 7, 2002 - February 25, 2003

CAPITOL SECURITIES MANAGEMENT, INC.

CRD#: 14169

GLEN ALLEN, VA

Past

February 22, 2002 - June 14, 2002

SOMERSET FINANCIAL GROUP, INC.

CRD#: 46507

PRINCETON, NJ

Past

October 10, 1996 - March 14, 1997

DAIN RAUSCHER INCORPORATED

CRD#: 7600

Past

November 10, 1995 - September 20, 1996

JANUS HENDERSON DISTRIBUTORS US LLC

CRD#: 28832

DENVER, CO

Primary Firm SEC Registration

This SEC-registered firm can serve clients nationwide. Some states may require the firm to submit a notice filing if the firm has more than 5 clients or a physical office there. You can view these state-level filings under the section titled "State Registrations and Notice Filings".

EFS ADVISORS

EDUCATOR'S FINANCIAL SERVICES, INC. | EFS ADVISORS LLC | EFS ADVISORS

CRD#: 115211 / SEC#: 801-62857

RIA

Registered Investment Advisory firm - (3/11/2004 Approved)

Iowa

Registered Investment Advisory firm - (6/29/2004 Terminated)

North Dakota

Registered Investment Advisory firm - (7/26/2004 Terminated)

Why is a state registration marked "Terminated"? When a firm registers with the SEC (usually after managing $100M+ AUM), it often withdraws separate state firm registrations unless required by that state. The firm can still serve clients there through its individually registered Investment Advisor Representatives (IARs).

State Registrations and Notice Filings

Listed states reflect where the advisor is authorized to serve clients under state regulations.

IAR

means the advisor is registered as an Investment Advisor Representative in this state and is authorized to provide investment advice to clients there.

indicates the advisor is registered as a Registered Representative in this state, allowing them to offer securities such as stocks, bonds, and mutual funds through a broker-dealer.

Visual representation of state registrations

California
(4/21/2025)

IAR

California
(4/22/2025)

IAR

Colorado
(4/25/2025)

Florida
(4/21/2025)

Minnesota
(10/9/2006)

IAR

Minnesota
(11/4/2013)

Missouri
(4/21/2025)

Nebraska
(4/21/2025)

IAR

Oregon
(4/24/2025)

IAR

South Dakota
(4/22/2025)

IAR

Texas
(4/22/2025)

Wisconsin
(4/13/2010)

IAR

Wisconsin
(4/22/2025)

Don't see your state listed? The advisor may still be able to work with you under the federal De Minimis Rule, which allows up to five investment advisory clients in a state without registration. Some states, like TX, LA, NE, and NH, may still require registration or notice filing. Contact the advisor or their firm to confirm their investment advisory availability in your state. Note: This rule does not apply to broker-dealer activity.

Exams

State Security Law Exam

IAR

Series 66

Date: 4/15/2002

Uniform Combined State Law Examination

State Security Law Exam

Series 63

Date: 11/29/1995

Uniform Securities Agent State Law Examination

General Industry/Product Exam

SIE

Date: 10/1/2018

Securities Industry Essentials Examination

General Industry/Product Exam

Series 7

Date: 10/23/2001

General Securities Representative Examination

General Industry/Product Exam

Series 6

Date: 11/9/1995

Investment Company Products/Variable Contracts Representative Examination

SRO Registrations

FINRA

Current Firm

EFS ADVISORS

EDUCATOR'S FINANCIAL SERVICES, INC. | EFS ADVISORS LLC | EFS ADVISORS

CRD#: 115211 / SEC#: 801-62857

RIA

Registered Investment Advisory firm - (3/11/2004 Approved)

Iowa

Registered Investment Advisory firm - (6/29/2004 Terminated)

North Dakota

Registered Investment Advisory firm - (7/26/2004 Terminated)

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Contact information

Main Address

1995 East Rum River Drive S, Cambridge, MN 55008

Mailing Address

Phone number

(763) 689-9023

Established

Firm type

Fiscal year end

# of Employees

SEC notice filing (51 States and Territories)

Documents

Customer Relationship Summary (CRS / SEC)

Latest Form ADV

Part 2 Brochures

EFS ADV PART 2 BROCHURE (3/11/2025)

Regulatory assets under management

Total Number of Accounts	29,714
AUM (Assets Under Management)	$ 2,271,853,092

Red Flags

Disclosures can be potential red flags, including customer disputes, regulatory fines, employer terminations, bankruptcies, judgments, liens, or certain criminal activities.

Check for any disclosures as part of your thorough research when choosing an advisor.

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Firm Stability Insights

Patrick J. Scherven

Professional summary

Question & Answer

Aliases

Other business activities

Blog Corner

CRS (Client Relationship Summary) - RIA

Click below to view Patrick Jon Scherven's CRS (Customer Relationship Summary).

Certified licenses

Experience

ADVANCED ADVISOR GROUP, LLC

ADVANCED ADVISOR GROUP, LLC

MM ASCEND LIFE INVESTOR SERVICES, LLC

PMG SECURITIES CORPORATION

CAPITOL SECURITIES MANAGEMENT, INC.

SOMERSET FINANCIAL GROUP, INC.

DAIN RAUSCHER INCORPORATED

JANUS HENDERSON DISTRIBUTORS US LLC

Primary Firm SEC Registration

EFS ADVISORS

State Registrations and Notice Filings

Exams

Series 66

Date: 4/15/2002

Series 63

Date: 11/29/1995

SIE

Date: 10/1/2018

Series 7

Date: 10/23/2001

Series 6

Date: 11/9/1995

FINRA

Current Firm

EFS ADVISORS

Contact information

SEC notice filing (51 States and Territories)

Documents

Part 2 Brochures

Regulatory assets under management

Red Flags

Company Information

EFS ADVISORS

TRUST BUT VERIFY

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