Berger Financial Group, a Plymouth, Minnesota-based registered investment advisory firm that has been employee-owned since 2018, has received a majority stake investment from global investment manager Investcorp. "We believe the mass affluent space is underserved," Berger CEO Nick Asmus told Financial Planning. Berger had an employee stock ownership plan and, after the investment, will remain about 35% employee-owned, Asmus said. READ MORE: The RIA race to $1B — and whether it's worth runningAn investment firm interested in RIAsInvestcorp's investment is its first in an RIA, following investments in other professional services businesses such as accounting and consulting firms. Bourchtein cited Berger's high customer satisfaction, customer retention, operating model and approach to serving clients as reasons for the investment.