Madden Securities Corporation maintains its current registration with the SEC as a
Registered Investment Advisor. MSC conducts its Registered Investment Advisory business
through Madden Asset Management (“MAM”), a division of MSC. In August 1986, Bill
Madden founded MSC, and the firm began doing business as a Registered Investment Advisor
in December 2002. As of June 2015, MSC’s Board of Directors consists of William B. Madden
as Chairman, Rodney T. Madden as President, and Leslie C. Madden as Secretary.
Investment Supervisory Services
Madden Asset Management (“MAM”) provides, primarily, investment supervisory services
on a discretionary basis and on a non-discretionary basis for private clients, foundations,
endowments, estates and other organizations. Investment advice and portfolio management
decisions are based on the individual needs and investment objectives of each client. Various
investment vehicles may be utilized by MAM in the performance of its services, including
money market and fixed income instruments, certificates of deposit, equities, mutual funds,
U.S. government obligations, municipal obligations, limited partnerships, master limited
partnerships and options contracts on securities.
Investment supervisory services are tailored to the individual needs and objectives of the
client. We begin the process by developing a profile of the client, which includes a thorough
assessment of the client’s financial situation, financial needs, time horizon, investment
objectives, attitude toward taking risk and any specific limitations or restrictions they
require. From this information, we develop investment policy guidelines that will guide
investment decisions. Clients may impose restrictions on investing in specific securities
and/or types of securities.
In certain cases, where authorized or directed by the client, MAM may delegate discretionary
portfolio management to third party investment advisors to manage portions of the client’s
assets, where appropriate. Clients
are referred to such third-party advisors’ disclosure
document for further information about those advisors’ services and fees, where applicable.
In certain cases, MAM may offer the Charles Schwab & Co., Inc. “Managed Account Select”
wrap fee program to its clients where appropriate. Clients are referred to the Charles Schwab
& Co., Inc. wrap fee disclosure brochure for more information about the Managed Account
Select program services where applicable.
As of March 31, 2023, MAM managed approximately $726,827,748 of client assets; of which
$694,776,520 was managed on a discretionary basis, and $32,051,228 was managed on a
non-discretionary basis.
Investment Management Consulting Services
MAM also provides investment management consulting services for private clients,
retirement plans, foundations, endowments, estates and other organizations. These services
may include investment policy development, investment planning, evaluation of other
investment advisors, investment advisor searches and/or other related services and
generally do not involve ongoing investment supervisory services. These services are
generally provided for hourly or fixed fee compensation.
ERISA Fiduciary
Madden Asset Management understands and attests that they are an ERISA fiduciary as
defined in the Fiduciary Rule under the Employee Retirement Income Security Act of 1974
and the Internal Revenue Code of 1986. Madden Asset Management adheres to the Impartial
Conduct Standards (including the “best interest” standard, reasonable compensation and no
misrepresented information). This relates to all ERISA accounts including Individual
Retirement Accounts (IRAs).
Madden Asset Management does not act as a discretionary investment manager of any Plan
as defined in Section 3(38) of the Employee Retirement Income Security Act of 1974. Madden
Asset Management does not act as a non-discretionary investment manager of any Plan as
defined in Section 3(21) of the Employee Retirement Income Security Act of 1974.