Stephen Broden
Working in public finance makes it possible for me to support the hard-working local government professionals that form the backbone of our communities.

Stephen Broden

Arbitrage Managing Director
Stephen Broden

Stephen brings 10 years’ experience in providing arbitrage calculations and bond compliance training to his role as Ehlers’ Arbitrage Managing Director. Prior to joining the firm in 2018, Stephen managed the national arbitrage practice at Arbitrage Compliance Specialist, Inc. His proactive approach to arbitrage compliance guides clients through the complexities of Internal Revenue Service reporting requirements and rebate analysis.

Stephen has a wonderful wife, three kids, one dog and a bunny at home in Castle Rock. When he’s not working, you’ll find him swimming, hiking, gardening, reading or just spending some quiet time watching movies with his family.

Areas of Expertise

Arbitrage Consulting

  • Pre-Issuance Arbitrage Guidance
  • Arbitrage Database Implementation & Management
  • Expenditure & Investment Analysis
  • Arbitrage Reporting
  • Internal Revenue Service Compliance
  • Arbitrage Training

Licenses & Certifications

Notary Public – Colorado
FINRA Series 6: Investment Company & Variable Contracts Products Representative (Inactive)
FINRA Series 63: Uniform Securities Agent (Inactive)

Professional Affiliation & Memberships

National Association of Bond Lawyers
Colorado Government Financial Officers Association
Colorado Special District Association
Minnesota Government Financial Officers Association
Wisconsin Government Financial Officers Association


Bachelor of Science – Financial Management, University of Colorado, Denver

Community Involvement

American Cancer Society – Donor/Volunteer
American Heart Association – Donor/Volunteer
Autism Speaks – Donor/Volunteer
Habitat for Humanity – Volunteer
Junior Achievement – Volunteer
Mile High United Way – Volunteer