General Marketing Disclosure
Ehlers is the joint marketing name of the following affiliated businesses (collectively, the “Affiliates”): Ehlers & Associates, Inc. (“EA”), a municipal advisor registered with the Municipal Securities Rulemaking Board (“MSRB”) and the Securities and Exchange Commission (“SEC”); Ehlers Investment Partners, LLC (“EIP”), an SEC registered investment adviser; and Bond Trust Services Corporation (“BTS”), holder of a limited banking charter issued by the State of Minnesota.
Where an activity requires registration as a municipal advisor pursuant to Section 15B of the Exchange Act of 1934 (Financial Management Planning and Debt Issuance & Management), such activity is or will be performed by EA; where an activity requires registration as an investment adviser pursuant to the Investment Advisers Act of 1940 (Investments and Treasury Management), such activity is or will be performed by EIP; and where an activity requires licensing as a bank pursuant to applicable state law (paying agent services shown under Debt Issuance & Management), such activity is or will be performed by BTS. Activities not requiring registration may be performed by any Affiliate.
This communication does not constitute an offer or solicitation for the purchase or sale of any investment (including without limitation, any municipal financial product, municipal security, or other security) or agreement with respect to any investment strategy or program. This communication is offered without charge to clients, friends, and prospective clients of the Affiliates as a source of general information about the services Ehlers provides. This communication is neither advice nor a recommendation by any Affiliate to any person with respect to any municipal financial product, municipal security, or other security, as such terms are defined pursuant to Section 15B of the Exchange Act of 1934 and rules of the MSRB. This communication does not constitute investment advice by any Affiliate that purports to meet the objectives or needs of any person pursuant to the Investment Advisers Act of 1940 or applicable state law.
Ehlers Investment Partners (EIP) Form ADV Part 2A & 2B
Client Case Studies
The case studies presented in the “Our Work” section of this website are for informational purposes only and were selected based on providing examples of different types of successful transactions or projects in different geographic locations. They were not selected based on any performance-based criteria and there is no guarantee of future performance or suitability for other clients. The case studies selected do not represent an endorsement or testimonial by any client. They appear in order of publication. Further, the specific services provided by Ehlers are detailed in each case study which, based on the above General Marketing Disclosure, help the reader understand which entity provided the services identified.
Ehlers’ Performance and Experience
Within this site, Ehlers makes certain statements with regard to being an industry-leading public finance firm. This statement, among others, correlates directly to our length of time in business, performance with regard to competitive bond sales advised, reputation in the municipal bond market, and decades of experience in the municipal advisor, local government and investments/financial services industry. To substantiate these statements, we cite the following:
- Ehlers has been in business successfully since 1955, consistently growing our client base, revenue and overall profitability over our 65+ year history. We focus solely on financial services for local governments and public agencies. We do not represent developers, underwriters, investors or the private sector.
- According to Bloomberg data, Ehlers consistently ranks in the top three nationwide for number of competitive bond sales advised. For the period ending 6/30/20, Ehlers ranks first in Minnesota, first in Wisconsin and second nationwide for competitive bond sales advised. The charts below illustrate this ranking and were derived directly from Bloomberg. To review prior years’ rankings, please email us at email@example.com.
- The average tenure of experience for Ehlers’ municipal advisors is greater than 12 years, while these advisors average industry experience – including direct work within local and/or state government – is 20 years. The average industry experience for Ehlers Investment Partners’ Registered Investment Advisors – including commercial and retail financial services experience – is greater than 10 years. This information was derived from and verified by Ehlers’ Human Resources Department.
- Ehlers completes more than 300 – on average – competitive bond sales per year. The very nature of this activity, along with a dedicated bond marketing team, puts us in nearly daily contact with investors and underwriters in the municipal securities market. This continual contact and successful completion of transactions has allowed us to earn a strong credibility among market participants as a reputable municipal advisory firm.
- For each bond sale, Ehlers conducts a comprehensive quality control process involving municipal advisors, disclosure coordinators, and financial analysts. We hold a Quality Control (QC) meeting to review and analyze the bond structure, terms, market rate estimates, sale parameters and federal and state statutory considerations. We serve as our clients’ lead agent in all communication and coordination with underwriters and potential investors. We provide market participants with timely and accurate offering documents and legal instruments. We post the issuer’s Official Statement on our website and disseminate it with other essential information about clients’ issues to regional and national underwriters.