A. Firm Information
Madison Wealth Partners, Inc. dba Madison Partners (“Madison Partners” or the “Advisor”) is a registered
investment advisor with the U.S. Securities and Exchange Commission (“SEC”). Madison Partners was
organized as a Corporation under the laws of the State of Delaware in January 2020 and became a registered
investment advisor in March 2020. Madison Partners is owned and operated by Shane D. Kieler (Co-Chief
Executive Officer) and Mark P. McFarland (Co-Chief Executive Officer and Chief Compliance Officer).
This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory
services provided by Madison Partners. For information regarding this Disclosure Brochure, please contact Mark
P. McFarland (Chief Compliance Officer) at (608) 210-1021.
B. Advisory Services Offered
Madison Partners offers wealth management services to individuals, high net worth individuals, trusts, estates,
charitable organizations, businesses and retirement plans (each referred to as a “Client”).
The Advisor serves as a fiduciary to Clients, as defined under the applicable laws and regulations. As a fiduciary,
the Advisor upholds a duty of loyalty, fairness, and good faith towards each Client and seeks to mitigate potential
conflicts of interest. Madison Partner’s fiduciary commitment is further described in the Advisor’s Code of Ethics.
For more information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest
in Client Transactions and Personal Trading.
Wealth Management Services
Madison Partners provides customized wealth management solutions for its Clients. This is achieved through
continuous personal Client contact and interaction while providing discretionary investment management and
related financial planning services. Madison Partners works closely with each Client to identify their investment
goals and objectives as well as risk tolerance and financial situation in order to design a portfolio strategy.
Madison Partners will then construct an investment portfolio, consisting of exchange-traded funds (“ETFs”)
and/or mutual funds to achieve the Client’s investment goals. The Advisor may also utilize individual stocks,
bonds, alternative investments, and other types of investments, as appropriate, to meet the needs of its Clients.
The Advisor may retain certain legacy investments based on portfolio fit and/or tax considerations.
Madison Partners will select, recommend and/or retain mutual funds on a fund by fund basis. Due to specific
custodial and/or mutual fund company constraints, material tax consideration, and/or systematic investment
plans, Madison Partners will select, recommend and/or retain a mutual fund share class that does not have
trading costs, but do have higher internal expense ratios than institutional share classes. Madison Partners will
seek to select the lowest cost share class available that is in the best interest of each Client and will ensure the
selection aligns with the Client’s financial objectives and stated investment guidelines.
Madison Partner’s investment approach is primarily long-term focused, but the Advisor may buy, sell or re-
allocate positions that have been held for less than one year to meet the objectives of the Client or due to market
conditions. Madison Partners will construct, implement, and monitor the portfolio to ensure it meets the goals,
objectives, circumstances, and risk tolerance agreed to by the Client. Each Client will have the opportunity to
place reasonable restrictions on the types of investments to be held in their respective portfolio, subject to
acceptance by the Advisor.
Madison Partners evaluates and selects investments for inclusion in Client portfolios only after applying its
internal due diligence process. Madison Partners may recommend, on occasion, redistributing investment
allocations to diversify the portfolio. Madison Partners may recommend specific positions to increase sector or
asset class weightings. The Advisor may recommend employing cash positions as a possible hedge against the
market movement. Madison Partners may recommend selling positions for reasons that include, but are not
limited to, harvesting capital gains or losses, business or sector risk exposure to a specific security or class of
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securities, overvaluation or overweighting of the position[s] in the portfolio, change in risk tolerance of the Client,
generating cash to meet Client needs, or any risk deemed unacceptable for the Client’s risk tolerance.
At no time will Madison Partners accept or maintain custody of a Client’s funds or securities, except for the
limited authority as outlined in Item 15 – Custody. All Client assets will be managed within the designated
account[s] at the Custodian, pursuant to the terms of the advisory agreement. Please see Item 12 – Brokerage
Practices.
Financial Planning Services – Madison
Partners will typically provide a variety of financial planning and
consulting services to Clients. Financial planning services are typically included in an overall wealth management
engagement. Services are offered in several areas of a Client’s financial situation, depending on their goals and
objectives. Generally, such financial planning services involve preparing a formal financial plan or rendering a
specific financial consultation based on the Client’s financial goals, and objectives. This planning or consulting
may encompass one or more areas of need, including but not limited to, investment planning, retirement
planning, personal savings, education savings, tax planning and other areas of a Client’s financial situation.
A financial plan developed for or financial consultation rendered to the Client will usually include general
recommendations for a course of activity or specific actions to be taken by the Client. For example,
recommendations may be made that the Client start or revise their investment programs, commence or alter
retirement savings, establish education savings and/or charitable giving programs. Madison Partners may also
refer Clients to an accountant, attorney, or other specialists, as appropriate for their unique situation. For certain
financial planning engagements, the Advisor will provide a written summary of the Client’s financial situation,
observations, and recommendations. For consulting or ad-hoc engagements, the Advisor may not provide a
written summary. Plans or consultations are typically completed within six (6) months of contract date, assuming
all information and documents requested are provided promptly.
Financial planning and consulting recommendations pose a conflict between the interests of the Advisor and the
interests of the Client. For example, the Advisor has an incentive to recommend that Clients engage the Advisor
for investment management services or to increase the level of investment assets with the Advisor, as it would
increase the amount of advisory fees paid to the Advisor. Clients are not obligated to implement any
recommendations made by the Advisor or maintain an ongoing relationship with the Advisor. If the Client elects
to act on any of the recommendations made by the Advisor, the Client is under no obligation to implement the
transaction through the Advisor.
Retirement Plan Advisory Services
Madison Partners provides retirement plan advisory services on behalf of the retirement plans (each a “Plan”)
and the company (the “Plan Sponsor”). The Advisor’s retirement plan advisory services are designed to assist
the Plan Sponsor in meeting its fiduciary obligations to the Plan and its Plan Participants. Each engagement is
customized to the needs of the Plan and Plan Sponsor. Services generally include:
● Vendor Analysis
● Plan Participant Enrollment and Education Tracking
● Investment Oversight and/or Management Services (ERISA 3(21) and 3(38))
● Benchmarking Services
● Ongoing Investment Recommendation and Assistance
These services are provided by Madison Partners serving in the capacity as a fiduciary under the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”). In accordance with ERISA Section 408(b)(2),
the Plan Sponsor is provided with a written description of Madison Partner’s fiduciary status, the specific services
to be rendered and all direct and indirect compensation the Advisor reasonably expects under the engagement.
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C. Client Account Management
Prior to engaging Madison Partners to provide wealth management services, each Client is required to enter into
an advisory agreement with the Advisor that define the terms, conditions, authority, and responsibilities of the
Advisor and the Client. These services may include:
• Establishing an Investment Strategy – Madison Partners, in connection with the Client, will develop a
strategy that seeks to achieve the Client’s goals and objectives.
• Asset Allocation – Madison Partners will develop a strategic asset allocation that is targeted to meet the
investment objectives, time horizon, financial situation, and tolerance for risk for each Client.
• Portfolio Construction – Madison Partners will develop a portfolio for the Client that is intended to meet
the stated goals and objectives of the Client.
• Investment Management and Supervision – Madison Partners will provide investment management and
ongoing oversight of the Client’s investment portfolio.
D. Wrap Fee Programs
Madison Partners does not manage or place Client assets into a wrap fee program.
E. Assets Under Management
As of September 30th, 2022, Madison Partners manages $461,551,362 in Client assets, $454,551,362 of which
are managed on a discretionary basis, and $7,000,000 of which are managed on a non-discretionary basis.
Clients may request more current information at any time by contacting the Advisor.