WE INVEST IN QUALITY ENDURING BUSINESSES
STRATEGICALLY POSITIONED IN ATTRACTIVE
INDUSTRIES RUN BY STRONG MANAGEMENT TEAMS

Broadview Advisors is a registered investment advisor based in Milwaukee, Wisconsin. Established in 2001, our seasoned investment team focuses on core growth through bottom-up fundamental analysis.

Broadview Advisors manages mutual fund and separately managed accounts. The FMI Focus Fund is managed by Broadview Advisors through a sub-advisory agreement with Fiduciary Management, Inc. For further information, please visit:

http://www.fiduciarymgt.com/fmifunds/fmiox.

FIVE PILLAR ANALYSIS

Strong Business Traits

>High level of recurring revenue
>Solid free cash flow
>Controllable destiny – not overly regulated or commodity centric

Defendable Market Niche

>Strategic value
>Barriers to entry
>Difficult to duplicate

Attractive Growth Potential

>Focus on 2-3 year time horizon
>Owners not surfers
>Across all industries

Capable Management

>History of successful strategic decisions
>Effective use of free cash flow
>Interests and compensation aligned with shareholders

Discount to Private Market Value (PMV)

>Substantial discount at purchase (industry specific)
>Most important risk control
>Discipline and patience
 
RICHARD E. LANE, CFA

>RICHARD E. LANE, CFA

Managing Member, Portfolio Management, Research
Education: University of Wisconsin, MS, BA - Applied Security Analysis Program
Investment Experience since 1982 with Broadview Advisors since Inception - 2001
Prior Experience: Fiduciary Management, Inc., Cleary Gull Reiland & McDevitt, Inc.,
Stein Roe & Farnham, Inc.
Faraz Farzam, CFA

>FARAZ FARZAM, CFA

Portfolio Management, Research
Education: University of Wisconsin, BS
Investment Experience since 1999 with Broadview Advisors since 2001
Prior Experience: Strong Capital Management, Inc.
Aaron J. Garcia, CFA

>AARON J. GARCIA, CFA

Portfolio Management, Research
Education: Rice University, BA
Investment Experience since 2002 with Broadview Advisors since 2003
Prior Experience: Stifel Nicolaus & Co.
Richard J. Whiting

>RICHARD J. WHITING

Trading, Portfolio Management, Research
Education: Lawrence University, BA
Investment Experience since 1982 with Broadview Advisors since Inception - 2001
Prior Experience: Fiduciary Management, Inc., Vector Securities Int'l., Inc.,
Cleary Gull Reiland & Mcdevitt, Inc.
Owen L. Hill, Jr.

>OWEN L. HILL, JR.

Administration, Operations, Compliance
Education: Texas A&M, BBA; Marquette University Graduate School of Business
Investment Experience since 1961 with Broadview Advisors since Inception - 2001
Prior Experience: Tucker Anthony Cleary Gull, Blunt Ellis & Loewi, Inc.
Paul C. Baures

>PAUL C. BAURES

Marketing, Administration, IT
Education: University of Wisconsin- Milwaukee, BA
Investment Experience since 1992 with Broadview Advisors since 2001
Prior Experience: Tucker Anthony Cleary Gull, Uniplan Inc., M&I IMC,
Banc One Investment Advisors
Ethan A. Hill

>ETHAN A. HILL

Trading, Administration, HR
Education: Arizona State University, BA
Investment Experience since 1996 with Broadview Advisors since Inception - 2001
Prior Experience: Summit Investment Management, Ltd.,
Strong Capital Management, Inc.
James M. Wenzler, CFA

>JAMES M. WENZLER, CFA

Marketing, Client Services
Education: University of Wisconsin - Milwaukee, BBA
Investment Experience since 1985 with Broadview Advisors since 2006
Prior Experience: Alpha Investment Consulting Group, A.O. Smith Corp., Associated
Trust Company

 BROADVIEW ADVISORS LLC 330 EAST KILBOURN AVENUE SUITE 1475 MILWAUKEE WISCONSIN 53202