Boyle Capital Management, L.L.C. doing business as Boyle Capital, is a registered investment adviser based in
West Des Moines, Iowa. It is organized as a limited liability company under the laws of the State of Iowa. The
company is owned by BFB Holdings, LLC, an Arizona holding company. Boyle Capital has been providing
investment advisory services since 2004. Brian F. Boyle is the President and Chief Compliance Officer of Boyle
Capital and is the sole owner and Managing Member of BFB Holdings, LLC.
As used in this brochure, the words “we,” “our” and “us” refer to Boyle Capital, and the words “you,” “your” and
“client” refer to you as either a client or prospective client of our firm. The following paragraphs describe our
services and fees. Please refer to the description of each investment advisory service listed below for information
on how we tailor our advisory services to your individual needs.
Boyle Capital Managed Account Program (Wrap Fee Program)
We are a portfolio manager to, and sponsor of, the Boyle Capital Managed Account Program a wrap fee program
(“Program”). If you participate in our wrap fee program, you will pay our firm a single fee, which includes our
money management fees, certain transaction costs, and custodial and administrative costs. We receive a portion
of the wrap fee for our services. The overall cost you will incur if you participate in our wrap fee program may be
higher or lower than you might incur by separately purchasing the types of securities available in the program.
Transactions for your account must be executed through Charles Schwab & Co., Inc. (“Schwab”), an unaffiliated
securities broker-dealer and member of the Financial Industry Regulatory Authority (FINRA) and the Securities
Investor Protection Corporation (SIPC). Depending on the Program's annual percentage fee charged by our firm
(please see Appendix 1 to this Brochure), the amount of portfolio activity in your account, and the value of
custodial and other services provided, the wrap fee may or may not exceed the aggregate cost of such services
if they were to be provided separately and/or if we were to negotiate transaction fees and seek best price and
execution of transactions for your individual account. To compare the cost of the wrap fee program with non-
wrap fee portfolio management services, you should consider the frequency of trading activity associated with
our investment strategies and the brokerage commissions charged by Schwab or other broker-dealers, and the
advisory fees charged by us or investment advisors. In determining whether to establish a Boyle Capital Managed
Account Program account, a client should be aware that the overall cost to the client of the Program may be
higher or lower than the client might incur by purchasing separately the types of securities available in the
Program. For more information concerning the Wrap Fee Program, please see Appendix 1 to this Brochure.
Non-Wrap Portfolio Management Services
In limited circumstances and at our discretion, we may provide direct asset management services on a non-wrap
basis. There is no difference in the way we manage non-wrap accounts and wrap accounts. If you participate in
our discretionary portfolio management services, we require you to grant us discretionary authority to manage
your account. Subject to a grant of discretionary authorization, we have the authority and responsibility to
formulate investment strategies on your behalf. Discretionary authorization will allow us to determine the
specific securities, and the amount of securities, to be purchased or sold for your account without obtaining your
approval prior to each transaction. Discretionary authority is typically granted by the investment advisory
agreement you sign with our firm, a power of attorney, or trading authorization forms.
In limited circumstances and at our discretion, we may also offer non-discretionary portfolio management
services. If you enter into non-discretionary arrangements with our firm, we must obtain your approval prior to
executing any transactions on behalf of your account. You have an unrestricted right to decline to implement any
advice provided by our firm on a non-discretionary basis.
In either case, our investment advice is tailored to meet our clients’ needs and investment objectives. If you
decide to hire our firm to manage your portfolio, we will meet with you to gather your financial information,
determine your goals, and help you decide how much risk you should take in your investments. The information
we gather will help us implement a strategy that will be specific to your goals, whether we are actively investing
for you or simply providing you with advice.
Once the portfolio is constructed, we periodically rebalance the portfolio as changes in market conditions and
your circumstances may require. A minimum account size of $30,000 is required to participate in the Program.
The minimum account size may be waived or lowered at our discretion.
You may specify investment objectives, guidelines, and/or impose certain conditions or investment parameters
for your account(s). For example, you may specify that the investment in any particular stock or industry should
not exceed specified percentages of the value of the portfolio and/or restrictions or prohibitions of transactions
in the securities of a specific industry or security. Simply provide us with your restrictions or guidelines in writing.
In determining whether to establish a wrap or non-wrap account, a client should be aware that the overall cost
to the client may be higher or lower in the wrap program than in the non-wrap program. Accounts participating
in Non-Wrap Portfolio Management Services will incur transaction charges and/or brokerage fees when
purchasing or selling securities, as well as applicable brokerage and custodial fees. The broker-dealer or custodian
through which your account transactions are executed typically imposes these charges and fees.
Boyle Capital Manager
of Managers Program
As part of our investment advisory services, we offer Manager selection services (referred to as the “Manager
of Managers” Program whereby we may recommend that you use the services of or specific programs/model
portfolios offered through an unaffiliated third-party adviser or sub-adviser (collectively “Managers”) to manage
a portion of or your entire investment portfolio. Factors that we take into consideration when making our
recommendation(s) include, but are not limited to the Manager’s performance, methods of analysis, fees, your
financial needs, investment goals, risk tolerance, and investment objectives. After gathering information about
your financial situation and objectives, we will recommend that you engage one or more specific Manager(s) or
investment program(s).
If you decide to act on our recommendation(s), the selected Manager(s) will actively manage your portfolio and
will assume discretionary investment authority over your account. We will recommend allocations of assets to
Managers, monitor Managers’ performance on an ongoing basis, and make recommendations to you to
rebalance and reallocate the assets in accordance with your financial situation and investment objectives.
However, we will not have investment authority to direct the investment, reinvestment, allocation, or
reallocation of account assets, to execute transactions on behalf of the account, or to terminate Managers
without obtaining your specific consent prior to each such investment, reinvestment, or transaction, and
termination. In some cases, in accordance with the agreement you sign with us, we will be granted discretionary
authority to reallocate your assets to other strategies or models offered through your selected Manager(s)where
we deem such action to be appropriate. Neither our firm nor persons associated with our firm serve as an officer,
director, or employee of any recommended Manager.
Generally, you will be required to sign an agreement directly with the selected Manager(s) in addition to the
agreement you sign with us. We will provide you with a copy of each recommended Manager’s disclosure
brochures prior to the engagement of any such Manager. You should carefully review each Manager’s disclosure
brochure and applicable advisory agreement for detailed information about the Manager’s services and fees and
for specific information on how you may terminate your advisory relationship with the Manager, and how you
may receive a refund of any pre-paid, unearned fees, if applicable. You can contact the Manager directly for
questions regarding your advisory agreement with them. You may terminate your agreement with us within the
first five days of execution without penalty. Thereafter, either party may terminate the agreement upon 30 days
written notice to the other party. Any pre-paid, unearned fees will be promptly refunded.
Financial Planning Services
We offer financial planning services, which typically involve providing a variety of advisory services to clients
regarding the management of their financial resources based on an analysis of their individual needs. These
services can range from broad-based financial planning to consultative or single-subject planning. If you retain
our firm for financial planning services, we will meet with you to gather information about your financial
circumstances and objectives. We may also use financial planning software to determine your current financial
position and to define and quantify your long-term goals and objectives. Once we specify those long-term
objectives (both financial and non-financial), we will develop shorter-term, targeted objectives. Once we review
and analyze the information you provide to our firm and the data derived from our financial planning software,
we will deliver a written plan to you, designed to help you achieve your stated financial goals and objectives.
Financial plans are based on your financial situation at the time we present the plan to you, and on the financial
information you provide to us. You must promptly notify our firm if your financial situation, goals, objectives, or
needs change.
You are under no obligation to act on our financial planning recommendations. Should you choose to act on any
of our recommendations, you are not obligated to implement the financial plan through any of our other
investment advisory services. Moreover, you may act on our recommendations by placing securities transactions
with any brokerage firm.
At our discretion, we may offset our financial planning fees to the extent you implement the financial plan
through our Portfolio Management Service.
Types of Investments
We primarily offer advice on equity securities (including exchange listed securities, exchange traded funds (ETFs),
over-the-counter securities, and foreign issues, such as American Depository Receipts (ADRs), warrants,
corporate debt and municipal securities (bonds), investment company securities (including mutual funds),
exchange traded funds, US Government securities, and options contracts on securities). Additionally, we may
advise you on any type of investment that we deem appropriate based on your stated goals and objectives. We
may also provide advice on any type of investment held in your portfolio at the inception of our advisory
relationship.
You may request that we refrain from investing in particular securities or certain types of securities. You must
provide these restrictions to our firm in writing.
Our investment or portfolio management services are offered solely through the Boyle Capital Managed Account
Program. We do not offer portfolio management services outside of the program or in a non-wrap
capacity. Therefore, there are no differences in the portfolio management of client accounts.
Assets Under Management
As of December 31, 2023, we provided continuous management services for $159,885,032 in client assets on a
discretionary basis, and $81,940,041 in client assets on a non-discretionary basis.