HomeMy WebLinkAbout2009 06 16 Uniform Application For Investment Advisor RegistrationA disclosure filling required by the SEC. We are required to provide this filing to all of
our clients when entering into a contract. While you already have this on file, we would
be updating your records and our disclosure congruent to updating our engagement
agreement.
ADV is A required submission to the Securities and Exchange Commission (SEC) by a
professional investment advisor that specifies the nature of the firm's investment
business, compensation, and key officers of the firm. We must update this annually and
make it available as public record.
FORM ADV
Part If -Page 1
Uniform Application for Investment Adviser Registration
Name of Investment Adviser.
liogdahn Consulting, LLC
Addrnse: (Number andSln:etl (City) (5lstey (Zip Code) Area Code: Telephone Number:
340 Central Avenue, Suite 300 Winter Haven Fi. 33880 (863) 293-8289
This part of Form ADV gives information about the investment adviser and its business for the use of clients.
The information has not been approved or veritied by any government authority.
Table of Contents
t m umber ~ggl
1 Advisory Services and Fees ........................................ .
2 Types of Clients ................................................. .
3 Types of Investments ............................................. .
4 Methods of Analysis, Sources of Information and Investment Strategies ..... .
5 Education and Business Standards ................................... .
6 Education and Business Background ................................. .
7 Other Business Activities .......................................... .
$ Other Financial Industry Activities or Affiliations ....................... .
9 Participation or Interest in Client Transactions ......................... .
10 Conditions for Managing Accounts .................................. .
11 Review of Accounts .............................................. .
12 Investment or Brokerage Discretion .................................. .
13 Additional Compensation .......................................... .
14 Balance Sheet ....................................................
Continuation Sheet ................................................
Balance Sheet, if required ........................................... .
Pace
2
2
3
3
4
4
4
4
5
5
5
6
6
6
Schedule F
Schedule G
(Schedules A, B, C, D, and E are included with Part l of this Form, for the use of regulatory bodles, and are not distributed to clients.)
Potential persons who are to respond to the collection of information contained in this form
Are not required to respond unless the form displays a currently valid OMB control number.
Prepared by Florida Securities Consulting Services, inc. (Btlo) 5953727
FORM ADV Applicant:
Part Il -Pace 2 Bogdahn Consulting, LLC
Definitions for Part l l
SEC File Number. I Darr.
801-58253. ~ January 1, 2009
Related person -Any officer, director or partner of applicant or any person directly or indirectly controlling, controlled by, or under common control with
the applicant, including any non-ckrical, non-ministerial empbyee.
Investment Supervisory Services -Giving continuous investment advice to a client {or making investments for the client) based on the individual needs of
the client. Individual needs ialude, for example, the nature of other client assets and the client's personal and family obligations.
A. Advisory Services and Fees. (check the applicable boxes) For each type of service provided, state the approximate % of
total advisory billmgx from that service.
Appl icant: (See instruction below.)
^ {1) Provides investment supervisory services ....................................................
^ (2) Manages investment advisory accounts not involving investment supervisory services ........... °
® (3) Furnishes investment advice through consultations not included in either service described above .......... 75%
^ (4) Issues periodicals about securities by subscription ............................................ •1e
^ (5) Issues special reports about securities not included in any service described above ..................... !!o
^ (fi) Issues, net as part of any service described above, arty charts, graphs, formulas, or other devices which clients
may use to evaluate securities ............................................................ %
® (7) On more than an occasional basis, Furnishes advice to clients on matters not involving securities ........... 20%
^ (8) Provides a timing service ...............................................................
® (9) Fumishes advice about securities in arty manner not described above .............................. 5°/.
(Percentages should be based on applicanCs last fiscal year. If applicant has not tAmpleted its first fiscal year, provide
estimates of advisory billings for that year and state that the percentages are estimates.)
Yes No
B. Does the applicant call any of the services it checked above financial planning or some similar term? ........... ^
C. Applicant offers investment advisory services for. (check all that apply):
^ (1) A percentage of assets under management ^ (4) Subscription fees
^ (2) Hourly charges ^ (S) Commissions
® (3} Fixed fees (not including subscription fees) ^ (fi) Other
D. For each checked box in A above, describe on Schedule F:
the services provided, including the name of any publication or report issued by the adviser on a
subscription basis or for a fee
applicant's basic fee schedule, how fees are chargod and whether its fees are negotiable
when compensation is payable, and if compensation is payable before service is provided, how a client
may get a refund or may terminate an investment advisory contract before its expiration date
2. Types of Clients -Applicant generally provides investment advice to: (check those that apply)
® A. Individuals ® E. Trusts, estates, or charitable organizations
^ B. Banks or thrift institutions ® F. Corporations ar business entities other than those
listed above
^ C. Investment companies
® G. Other (describe on Schedule F)
® D. Pension and profct sharing plans
Answer all items. Complete amended pages in full, clrck amended items and lik with eieeution page (page 1).
Prepared by Ftartda Setwri0es ConaulOny Services, Ix. (000)595.3727
FORM ADV Applicant: SEC Filc Number: Date:
Part II -Pape 3 liogdahn Consnltiag, LLC 801- 58253 January 1, 2009
3. Types of Investments. Applicant offers advice on the following: (check those that apply)
A. Equity Securities ® H. United States government securities
® (1) exchange-listed securities
® {2) securities traded over-the-counter I. Options contracts on:
® {3} foreign issues ^ (1) securities
^ (2) commodities
® B. Warrants
J. Futures contracts on:
® C. Corporate debt securities ^ (I} tangibles
(other than commercial paper} ^ (2) intangibles
® D. Commercial paper K. Interests in partnerships investing in:
® (1) real estate
® E. Certificates of deposit ^ (2) oil and gas interests
® (3) other (explain on Schedule F)
® F. Municipal securities
^ L. Other (explain on Schedule F)
G. Investment company securities
® (I } variable life insurance
® (2} variable annuities
® (3) mutual fund shazes
4. Methods of Analysis, Sources of Information, and Investment Strategies.
A. Applicant's security analysis methods include: (check those that apply)
(1) ^ Charting (4} ^ Cyclical
(2) ^ Fundamental (5) ®Other (explain on Schedule F)
{3) ^ Technical
B. The main sources of information applicant uses include: (check those that apply)
(I) ®Financial newspapers and magazines (5) ^ Timing services
(2) ^ Inspections of corporate activities (6) ®Annual reports, prospectuses, filings with the
Securities and Exchange Commission
(3) ® Research materials prepared by others (7) ®Company press rcieases
(4) ®Corporate rating services (8) ®Other (explain on Schedule F)
C. The investment strategies used to implement any investment advice given to clients include: (check those that apply)
(I) ^ Long term purchases (5) ^ Margin transactions
(securities held at least a year)
(2) ^ Short term purchases (6) ^ Option writing, including covered options,
(securities sold within a year) uncovered options ar spreading strategies
(3) ^ Trading (securities sold within 30 days)
(1) ®Other (explain on Schedule F}
(4) ^ Short salts
Answer all items. Complete amended pages In full, click amended items and Ilk with exeeation page (page 1).
Prepared by Florida Securilt~ Consulting Services. Inc. (800) 5tt5~3727
FORM ADV Appltcanl: SEC File Number: Date;
Part II - Paae 4 Bogdabn Consulting, LLC BOI-58253 Janaary t, 2009
5. Educaiion anti Business Standards.
Are there any general standards of education or business experience that applicant requirrs of those involved in Yes No
determining or giving investment advice to clients? ................................................ ® O
{If yes, describe these standards on Schedule FJ
6. Education sod Business Background
For:
• each member of the investment wmmittee or group that determines general investment advice to be given to clients, or
• if the applicant has rto investment committee or group, each individual who determines general investment advice given
to clients (if more than five, respond only for their supervisors)
• each principal executive officer of applicant or each person with similar status or performing similar functions.
On Schedule F, give the:
• name • formal education after high school
• year of birch • business background for the preceding five years
7. Outer Business Activities. (check those that apply)
^ A. Applicant is actively engaged in a business other than giving invesment advice.
^ B. Applicant sells products or services other than investment advice to clients.
^ C. 'fhe principal business of applicant or its principal executive officers involves something other than
providing investment advice.
(For each checked box describe the other activities, iaeluding the time spent on them, on Schedule FJ
8. Other Financial Industry Activities ar Af[lllations. (check those that apply)
^ A. Applicant is registered (or has an application pending) as a securities broker-dealer.
^ B. Applicant is registered (or has an application pending) as a futures commission merchant, commodity
pool operator or commodity trading adviser.
C. Applicant has arrangements that are material to its advisory business or its clients with a related person who is a:
^ (1) broker-dealer ^ (7) accounting firm
^ (2) investment company ^ (8) law firm
^ {3) other investment adviser ^ (9} insurance company or agency
^ (4} financial planning firth ^ (lt)) pension consultant
^ (5) commodity pool operator, commodity trading ^ (] 1) real estate broker or dealer
adviser or futures commission merchant
^ (12) entity that creates or packages limited partnerships
^ (fi) banking or thrift institution
(For each checked box in C. on Schedule F identify the related person end describe the relationship and the arranYerrte[tts.)
D. [s applicant or a related person a general partner in any partnership in which clients aze solicited to Yes Na
invest7 ........................................................................... ^
(If yes, describe on Schedule F the partnerships and what they invest in.)
Answer all Items. Complete amended pages to full, ctrck amended items and fik with ezecetloe page (page 1).
Prepared by Florida Securiaes Conaulttng Services, Inc. (800) 595.3727
FORM ADV I Applicant:
SEC Fle Number. ~ pate;
Part 11 - Pag@ 5 ~ Bogdahn Consuiting, LLC ~ 801- 58253 (January 1, 2009
9. Participation or Interest in C7ieot Traosact5ans.
Applicant or a related person: (chock those that apply)
^ A. As principal, buys securities for itself from or sells securities it owns to any client.
^ B. As broker or agent effects securities transactions for compettsation for any client.
^ C. As broker or agent for any person other than a client effects transactions in which client securities are sold to
or bought from a brokerage customer.
^ D. Recommends to clients that they buy or sell securities or investment products in which the applicant or a related
person has some futancial interest.
^ E. Buys or sells for itself securities that it also recommends to clients.
{For each box checked, describe on Schedule F whrn the applicant or a related person engages in these transactions aril what
restrictions, internal procedures, or disclosures are used for conflicts of interest ur those transactions.}
10. Conditions for Managing Acrnunts. Does the applicant provide investment supervisory services, manage investment advisory
accounts or hold itself out as providing financial planning or some similarly termed services and impose a minimum dollar value of Yes No
assets or other conditions for starting or maintaining an account? .................................................. .. ^
{[f yes, describe on Schedule F.)
11. Review of Accounts. [f applicant provides invesUnrnl supervisory services, manages investment advisory accounts, or holds
itself out as providing financial planning or some similarly termed services:
A. Describe below the reviews and reviewers of the accounts. For reviews, include their frequency, different levels, and
triggering factors. For reviewers, include the number of reviewers, their titles sad functions, instructions they receive
from applicant on performing reviews, and number of accounts assigned each.
See Schedule F
B. Describe below the nature and frequency of regular reports to clients on their accounts.
See Schedule F
Answer ^11 Items. Complete amended pages U full, circle amended items and rile with execution page {page 1).
Prepared by Florida Secuities ConaulUng Services. inc. (800} 5953727
FORM ADV
Patt 11 -Paste 6
LLC
SEC File Number: I Datc
801-58253 I January 1,2009
12. Investment or Brokerage Discretion.
A. Does applicant or any related person have authority to determine, without obtaining specific client consent, the:
Yes No
{l) securities to be bought or sold? .......................................................... ® ^
Yes No
(2) amount of the securities to be bought or sold ? ............................................... ^
Yos No
(3) broker or dealer to be used ? .......................................................... ^
Yes No
(4) wmmission rates paid? ............................................................... ^
Yes No
B. Does applicant or a related person suggest brokers to clients? . ..................................... ^
For each yes answer to A descn'be on Schedule F any limitations on the authority. For each yes to A(3), A(4) or B,
describe on Schedule F the factors considered in selecting brokers and determining the reasonableness of their commis-
sions. If the va]ue ofproducts, research and services given to the applicant or a related person is a factor, describe:
• the products, research and services
• whether clients may pay commissions higher than those obtainable from other brokers in return for those products
and services
• whether research is used to service all of applicant's accounts or just those accounts paying for it; and
• any procedures the applicant used during the last fiscal year to direct client transactions to a particular broker in
return for products and research services received.
t3. Additional Compensation.
Does the applicant or a related person have any arrangements, oral or in writing, where it:
A. is paid cash by or receives some ewnomic benefit (including commissions, equipment error-research services) from a Yes No
non-client in connection with giving advice to clients? ........................................ ^
Yes No
B. directly or indirectly compensates any person for client referrals? .................................... ^
(For each yes, describe the arrartgemrnts on Schedule F.)
14. Balance Sheet. Applicant must provide a balance sheet for the most recent f-scal year on Schedule G if applicant:
• has custody of client fltnds ar securities; or
• requires prepayment of more than S500 in fees per client and 6 or more months in advance
Yes No
Has applicant provided a Schedule G balance sheet? ......................................... ^
Anawer att items. Com lete amended pages in fnll, cinle amended lteens sad nk with execution page (page i).
Prepared by Fbrida Securities Consulting Services, inc. (800) 595.3727
Schedule F of Applicant: SEC Fih:Numhrs: pelt;
Form ADV
Continuation Sheet for Form ADV Part it Bo dahn Consultrn ,LLC 801-58253 January t, 2009
llks not vse this 5chedulc as a continuation sheet for Farm ADV Part I or env other schedu[es.l
1. FuII name of applicant exactly as staled in Item I A of Pert I of Form ADV; IRS F,mpL Idenl. No.:
li dahn Consultin LL,C 59-36?6225
Item of Form
idendf An~+~'
1. A.(1},(3},(7~(9}, ADVISORY SERVICES
2. Bogdahn Consulting, LLC (hereinafter referred to as'the Company', 'we','us' and'our) is an
independent investment advisor registered with the United States Securities & Exchange
Commission offering retirement planning io individuals, pension and profd sharing plans, trusts,
estates, charitable organizations, corporation, and government municipalities. We provide
independent and detailed analysis, portfolio accounting, asset allocation, performance
measurement, and fiduciary governance services for our clients. The firm was founded with the
relief that the investment clienUplan sponsor should have the most current and unbiased
information with which to prudently evaluate their portfolio allocations and performance. Our sole
business is investment and fiduciary govemar>ce consulting services, and we are devoted to
providing unparalleled personal service.
1. C. Fee Schedule
We provide our services on a hard dollar basis. Our hard dollar fees vary depending on the
complexity of the engagement. All Fees are fully disclosed and negotiated with the client in
advance. Fees witi be billed in arrears, generally quarterly. Under no circumstances are our fees
based on a share of capital gains or appreciation of funds. Client can terminate our advisor
services at any time upon written notice.
3. K.(3) TYPES OF INVESTMENTS
The Company will review investments in Gmber resources, private equity and long/short hedge
funds, SEC registered multi-strategy, or fund-0f-fund hedge funds in structured products for our
clients' infrastructures.
4• METHODS OF ANALYSIS, SOURCES OF INFORMATION, AND INVESTMENT STRATEGIES
A.(5) 8 B.(8) We provide investment management duediligerlce and do not make individual securities
decisions.
C.(7) The Company utilizes various licensed programs and data services providing investment
manager peer universes, and other performance reporting information.
5. EDUCATION AND BUSINESS STANDARDS
Any Investment Advisory Representatives or control persons retained by the Company will be
required to have earned a four-year undergraduate degree or the equivalent and three years
experience in fields directly related to investments, economics, and finance, as well as the
required examinations and qualfications to act as such. Preferences are given for holders of the
CFA and CIMA designafwns.
6. EDUCATION AND BUSINESS BACKGROUND
Joseph R. Bogdahn, CIMA
tXiD 11.22987270
Year or eirlh:1062
Education: BBA, Business and Economics, University of Mississippi
CIMA, Wharton School of Business/ICMA Program
NASD Exams: Series 66
Business: 0912000 -Present Bogdahn Consulting, LLC
Position: Principal & Chief Compliance Officer
O1i12005 -Present STC Condominium Association
Position: Director
04/2004 -Present Park Partners, LLC
Position: Partner
05/1996 -Present Florida Data Bank of Tallahassee, Inc
Position: Director and Partner
03/1996 - 08!2007 Doculex, Inc
Portion: Director and Partner
08!1993 -Present FDB Storage Partners, Ltd
Position: PaMer
Complete amended pages In full, dre4 amended Items tied cite with execution page (page 1).
p~ i Prepared by Florida Securities Conartlling Services. Inc. (800) 5953727
SGhedUl@ F Of Applicant: SEC File Nwnber: Date:
Form ADV
Continuation Sheet for Form ADV Part Il Boadahn Consnitin ,LLC sal-SS7S3 January 1, 2009
rn,...,,~ ..~. Ih:~ Ghsvi,Jo ~c n rnntimratinn sheet rnr Fnrm AnV PatY [ or env other SchedulPC.)
i. Full name of spplicaat exactly as stated in Item IA of Part 1 of Form ADV:
dabs ConsalHn LLC IRS Empl. (dent No.:
59-3676125
item of Form
identi Answer
- Continuation of Joseph R. Bogdahn Education and Business Background -
05/1987 -Present The 6/10 Corporation
Position: Director and Vice President
Michael F. Welker, CFA
CRD #~ 4T3642b
Year d air9r: 1876
Education: BA, Economics, Rollins College
MBA, Flnance and Management, Rollins College
CFA Institute - Chartered Financial Analyst®charterhoider (CFAs)'
NASD Exams: Series B5
Business: 1112003 -Present Bogdahn Consulting, LLC
Position: PresidenUSenior Consultant
04/2004 -Present Park Partners, LLC
Position: Partner
04/2001-11/2003 Trusco Capital Management, Inc
Position: Investment Manager
Herbert A. Whitehouse, JD
cRO s: sx6969~
Year d t~•rtn.1851
Education: BA, Political Sdence, Drew University
MA, Political Science, Drew University
Juris Doctor, Rutgers University
Business: 02/2006 -Present Bogdahn Consulting, LLC
Position: Chief Flduciary Officer
0211995 -1212006 Whitehouse Law Firm
Position: Attorney
Robert W. Little, Jr., CFA, CPA
CRD#:4726747
Year d nits: 1975
Education: BA, Economics, University of North Carolina
Master of Accounting, University of Florida
Licensed Cert~ed Public Accountant {CPA) in Florida
CFA Institute -Chartered Finandal Analysts charterholder {CFAs)'
NASD Exams: Series 86
Business: 01/2006-Presets Bogdahn Consulting, LLC
Position: Director of Research
0712004 -1 212005 Sentinel Fidudary Services, Inc.
Position: Chief Investment Officer
07/1999 -06/2004 Burgess Chambers 8 Associates, lnc
Position: Consultant
David E. West, CFA
cRa #: 4Tttee4s
Yar d ak6c 1969
Education: BBS, Finance, Sielson University
CFA Institute -Chartered Finandal Analysts charierholder (CFA®}'
Business: 01/2006 -Present Bogdahn Consulting, LLC
Position: Chief Investment Officer & Sr. Consultant
0812003 - 01/2006 Burgess Chambers & Associates, Inc
Position: Consultant
10/1985 - 072003 STIfI'tvsco Cap'dal Management, Inc
Position: Investment Manager
CFA InstiWte owns the certification merits, CFAs, Chartered Financial Analysts. Individuals who successfully complete initial snd ortgdng certification
requirements by the CFA Institute are awarded Ihfa professional designation.
Complete amended pages !n full, clrrk amended Item: and lik w•!th exceatlon page (page 1).
Papa 2 Prepared by Fla Securities Consul9r~g Services, Inc. (800) 595.3727
Schedule F of I Applicant: 156C Filc Number: I Data
Form ADV
for
801-58253 I Janusry 1,2009
Do not use this Schedule as a continuation sheet for Form ADV Pori I nr a» outer schedules, l
1. Full name of applicant exactly as statod in Item lA of Part I of Form ADV: IRS F.crgrl ld+•m Ho.:
So dahn Consultin LLC 54-367ti225
Item of Form
Richard L. Boggs
crtoaY e43?er
Year d 8ifi:1B36
Education: BS & MS, Chemical Engineering, Purdue University
MBA, Flnance, University of Chicago
Coursework/exams for PhD, Flnaiue, University of Chicago
Business: 1012006 -Present Bogdahn Consulting, LLC
Position: Div. PartnedSenior investment Consultant
0311 992 -1 2/2006 Burnley Astsociales,lnc
Position: CEO, President 8 Chief Compliance Officer
Michael R. Bostler
coca: zztoa6t
Ymr d Bilh: 1963
Education: BS, Business Administretbn, Elmhurst College
Business: 1012008 -Present Bogdahn Consulting, LLC
Positbn: Midwest Reg. President & Senior Consultant
2005 - 2008 Strategic Investment Advisors
Position: Senior Consultant
1995 - 2005 Alpha Investment Consulting Group, LLC
Position: Senior Consultant
11. A.B, B. REVIEW OF ACCOUNTS
The Company provides regular reviews of clients' investment programs, usually quarterly but
often on a more frequent basis. We also provide regular fiduciary governance audits for our
clients.
12. A.(1) INVESTMENT OR BROKERAGE DISCRETION
The Company wilt serve as a discretionary advisor under Section 3(38) of ERISA for certain
deflned contribution plans.
CODE OF ETHICS
As a fldtldary, the Company has an affirmative duty to render continuous, unbiased investment
advice, and at ail times act in the diems' best interest To maintain this ethical responsibility to
clients, we have adopted the CFA Institute's Code of Ethics and Standards of Professional
Conduct, which establishes the fundamental prindples of conduct and professionalism expected
by all officers, directors and empbyees in discharging their duties. The Company's employees
shall always:
• Act with integrity, competence, diligence, respect, and in an ethical manner with the
public, clients, prospective clients, empbyers, empbyees, colleagues in the investment
profession, and other partlcipanis in the global capital markets.
• Place the integrity of the investment profession and the interests of clients above their
own persona{ interests.
• Use reasonable care and exercise independent professional judgment when conducting
investment analysis, making investment recommendations, taking investment actions,
and engaging in other professional activities.
• Practice and encourage others to practice in a professional and ethical manner that will
reflect credit on themselves and the profession.
• Promote the integrity of, and uphold the rules governing, capital markets.
• Maintain and improve their professional competence and strive to maintain and improve
the competence of other investment professionals.
To help diems understand the Company's ethical culture and standards, how the Company
controls sensitive information and what steps have been taken to prevent personnel from abusing
their inside position, a copy of the Company's Code of Ethics is available for review upon request.
OF
Complete amended pages la full, circle amended kerns and nk with execution pace (pate I ). I
Pegs 3 Prepared by Fbrtda Securities Consulting Services. Inc. (600) 585-3727