"The new relationship and name change reflects the interests of our clients...Our service to clients will not change." - Ken Herdeman, President, Ehlers Investment Partners
Brookfield, Wisconsin (PRWEB) February 14, 2012
Leaders in Public Finance, Ehlers, and its Board of Directors announces the purchase of Bankers' Bank interest in BBE Community Investment Partners. Ehlers and Bankers' Bank executed the purchase agreement in which Ehlers agreed to purchase Bankers' interest in BBE CIP. Both firms established BBE CIP in 2008 as equal partners, and developed the moniker, Bankers' Bank/Ehlers-Community Investments Partners (BBE CIP). The name will be changed to Ehlers Investment Partners (EIP) to reflect the new structure.
Ehlers President and CEO, Steve Apfelbacher states, "In 2010, the Dodd-Frank Consumer Protection Act was passed and now regulates municipal advisors. Since January 1, 2011, the SEC and MSRB have developed various rule proposals that require specific disclosures and actions for municipal advisors to execute their fiduciary duty to municipal clients."
Apfelbacher continues, "These requirements force market participants to focus on either the buy or sell side of a municipal transaction. Ehlers and Bankers' agreed that the long term best interests of both firms are more advantageous when each party focuses on the side of the municipal transaction that each firm does most proficiently."
Ken Herdeman, President of EIP, affirms, "The new relationship and name change reflects the interests of our clients. We've kept some familiar attributes to recognize our past, but the changes reflect how we're moving forward. Our service to clients will not change; processes like a new custodian for EIP and more robust website will help enhance the level of service to our clients. We're excited about the changes that will be occurring in the near future."
All investment services to municipal clients previously provided will continue to be available from EIP. Ken Herdeman will continue as President in Brookfield, WI; Brian Mann will be a Municipal Asset Manager and in Roseville, MN; and Dawn Tracy will continue as an Investment Services Analyst/Administrator in Brookfield, WI.
Ehlers, an independent public finance advisor for over 50 years, is ranked third nationally in number of competitive sales advised. Our fiduciary duty is to the communities whom we serve. Ehlers works with counties, cities, townships, school districts and other governmental units to build better communities through the products and service we offer: Debt Issuance Services, Economic Development and Redevelopment, Financial Planning, and Strategic Communications. Our goal is to expand public sector clients' horizons and achieve practical solutions at the lowest cost to taxpayers. Ehlers' success is the result of established long-term relationships, hard work, and years of experience. Visit http://www.ehlers-inc.com/ for more information.
About Ehlers Investment Partners
Ehlers Investment Partners is a full service independent investment advisor staffed by experienced, highly qualified professionals, who are committed to providing outstanding products, service, and results for local governments. Visit http://www.ehlers-inc.com/ehlers-investment-partners for more information.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are subject to significant risks and uncertainties that are difficult to predict. These forward-looking statements cover, among other things, statements made about general economic and market conditions, our current deal pipelines, market share gains and trends, the environment and prospects for capital markets transactions and institutional brokerage activity, anticipated financial results (including expectations regarding revenue and expense levels, the compensation ratio, return on shareholders' equity, and our quarterly run rate for non-compensation expenses), liquidity and capital resources, inventory positions, share repurchase plans or other similar matters. These statements involve inherent risks and uncertainties, both known and unknown, and important factors could cause actual results to differ materially from those anticipated or discussed in the forward-looking statements. Forward-looking statements speak only as of the date they are made, and readers are cautioned not to place undue reliance on them. Ehlers undertakes no obligation to update them in light of new information or future events.