Broadview Advisors to be acquired by Madison firm

Milwaukee RIA has $430 million in assets under management

Coins stacked

Last updated on June 17th, 2019 at 05:20 pm

Milwaukee-based Broadview Advisors LLC has agreed to be acquired by Madison-based Madison Investment Holdings Inc. The transaction is expected to close in the third quarter.

Broadview, a registered investment advisor, has about $430 million in assets under management, the company said in a release. As of March 20, the firm had $43.6 million in its private pooled investment fund, Chataqua Partners LLC, down from a 10-year peak of $57.4 million in 2015, according to SEC filings. Founded by Richard Lane in 2001, employee-owned Broadview focuses on small cap equity management for domestic institutions and individual investors.

Founded in 1974, Madison Investment Holdings is an independent investment firm with more than $16 billion in assets under management. It has additional offices in Toronto, Canada and Scottsdale, Arizona. MIH focuses on domestic fixed income and equity strategies, international growth equity, insurance investment management and covered call equity for advisory and institutional clients.

Broadview president Rick Lane, as well as portfolio managers Aaron Garcia and Faraz Farzam, have been hired on at MIH to continue leading their investment strategy. Broadview’s website lists nine employees.

“Madison’s history of independence makes them an attractive partner and their operational and distribution strength will greatly enhance our ability to focus on investment performance and serve our clients,” Rick Lane said in a statement.

“This strategic acquisition adds an excellent small cap equity team and strategy to our already robust U.S. Equity offering. It is the perfect complement to our existing Mid Cap and Large Cap Equity strategies,” said Steve Carl, chief business development officer at MIH, in a statement.

The leaders could not be reached today for additional information about the deal.

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Molly Dill, former BizTimes Milwaukee managing editor.

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