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:
Strong Business Traits
>High level of recurring revenue
>Solid free cash flow
>Controllable destiny – not overly regulated or commodity centric
>Solid free cash flow
>Controllable destiny – not overly regulated or commodity centric
Defendable Market Niche
>Strategic value
>Barriers to entry
>Difficult to duplicate
>Barriers to entry
>Difficult to duplicate
Attractive Growth Potential
>Focus on 2-3 year time horizon
>Owners not surfers
>Across all industries
>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
>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
>Most important risk control
>Discipline and patience
>RICHARD E. LANE, CFA
Managing Member, Portfolio Management, ResearchEducation: 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
Portfolio Management, ResearchEducation: University of Wisconsin, BS
Investment Experience since 1999 with Broadview Advisors since 2001
Prior Experience: Strong Capital Management, Inc.
>AARON J. GARCIA, CFA
Portfolio Management, ResearchEducation: Rice University, BA
Investment Experience since 2002 with Broadview Advisors since 2003
Prior Experience: Stifel Nicolaus & Co.
>RICHARD J. WHITING
Trading, Portfolio Management, ResearchEducation: 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.
Administration, Operations, ComplianceEducation: 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
Marketing, Administration, ITEducation: 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
Trading, Administration, HREducation: 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
Marketing, Client ServicesEducation: 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
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