Company Background
Ehlers Investment Partners, LLC ("EIP" or "Company") was formed in January 2012 when
Ehlers Companies (“Holding Company”, not to be confused with the affiliates below) acquired
BBE Community Investment Partners, LLC, as a wholly owned subsidiary, and renamed it,
Ehlers Investment Partners. Continuing the business BBE started in 2007, EIP offers asset
management, cash forecasting, treasury management consulting, and investment
administration primarily to local governmental entities, i.e., counties, cities, towns, school
districts and special districts.
The Joint Marketing Name: Ehlers
EIP and two other companies, Ehlers & Associates, Inc. ("EA"), and Bond Trust Services
Corporation ("BTS"), are wholly owned subsidiaries of Holding Company, which is, in turn,
ultimately owned by the Ehlers & Associates, Inc. Employee Ownership Trust (the "Ehlers
Trust"). As owner of all (or virtually all) of the membership interests in EIP, Holding Company
controls management of EIP and the other two affiliates, including calling of meetings to elect
new officers or managers.
EIP, EA, and BTS have adopted the joint marketing name of "Ehlers". We refer to the three
affiliates, jointly and severally, as the "Ehlers Companies," which are owned by Holding
Company.
We focus on offering a range of complementary products and services intended to meet the
varied needs of local governments and public agencies. Certain services and activities (such as
financial management planning and debt issuance & management for municipal issuers) must
be performed by a municipal advisor registered pursuant to Section 15B of the Securities
Exchange Act of 1934. Similarly, there are certain activities (such as advice regarding
securities, and treasury management advice) that require an adviser's services pursuant to the
Investment Advisers
Act of 1940, in which case EIP will perform the activity. To meet the
increasingly complex needs of our Clients, our banking affiliate, BTS, offers financial products
and services regulated under state banking laws, such as paying agent services. Activities that
do not require licensing or registration may be performed by any of the Ehlers Companies.
EIP's Services
Clients may engage EIP to manage all or a portion of their investment portfolios on a
discretionary or non-discretionary basis. When assets are managed on a discretionary basis,
EIP has written authority to implement investment decisions on behalf of the Client without first
seeking the Client's consent. When assets are managed on a non-discretionary basis, EIP has
written authority to implement investment decisions on behalf of the Client after first
obtaining the Client’s consent. Clients who engage Ehlers on a discretionary basis may, at any
time, request reasonable restrictions, in writing, and subject to review and approval, Ehlers will
accommodate such requests (i.e., limit the types/amounts of particular securities purchased for
their account, exclude the ability to purchase securities with specific investment ratings, etc.).
EIP's asset management recommendations are limited by state statutes that govern
investments permitted by local governmental entities; however, in certain limited situations
covered by state statute (such as investments of hospital funds of governmental entities in
Minnesota) EIP is permitted to invest according to the governmental entity's written
investment policies and procedures, without the usual constraints applicable to investments
by such governmental entity. In any event, EIP will honor the reasonable restrictions on
investing in certain securities or types of securities imposed by the Client in writing. Refer to