It is with great sadness that we share Edward Piacentini Bernardi, founder of Bernardi Securities, passed away Saturday, March 21, 2026.
Ed founded Bernardi Securities in 1984 with a clear vision and unwavering determination. Taking a significant personal risk to pursue that vision, he built what would become a highly respected firm in the municipal bond market. His leadership, discipline, and commitment to excellence laid the foundation for the firm’s long-term success.
Born in Highwood, Illinois, to Italian immigrant parents, Ed’s life reflected the essence of the American Dream. His father was a coal miner turned landscaper, his mother a housemaid. As a recipient of the Chick Evans Caddie Scholarship, he attended and graduated from Northwestern University. He began his professional career as a toy salesman before ultimately finding his calling in the municipal bond industry. After co-founding Columbian Securities in the early 1960s, he later established Bernardi Securities, which has grown and thrived for over four decades.
Ed was known not only for his business acumen, but for his integrity, work ethic, and deep sense of responsibility to others. He was president of the Union League Club of Chicago and also the Union League Boys & Girls Clubs Foundation. Later in life, he authored two historical fiction novels The Reluctant Patriot and Kill the Devil Twice covering pre and post-war Italy.
Beyond his professional accomplishments, Ed was a devoted husband, father, grandfather, great-grandfather, and friend. He took great pride in the lives and successes of those around him and worked tirelessly to create opportunities for others.
Ed’s legacy lives on through the firm he built, the people he mentored, and the values he instilled. His vision continues to shape our culture, our work, and our commitment to serving our clients and community.
We are deeply grateful for his life, his leadership, and the enduring impact he has had on all of us. From modest beginnings, Ed truly maximized life.
Our thoughts are with his wife Mary and the entire Bernardi family during this time.
His obituary can be found here: https://www.symondsfuneralhome.com/obituary/Edward-Bernardihttps://www.legacy.com/us/obituaries/name/edward-bernardi-obituary?id=61107624
Market Commentaries
Forty Years of Municipal Bonds – A Letter to Our Clients, Colleagues, and Friends
This is a milestone year for our firm.
On October 1, 2024 we celebrate our 40th year in business.
Entrepreneurial values, paired with a primary focus of serving our clients well, were the essence of our beginning. We were ambitious entrepreneurs looking to build a successful organization. We wanted to help people and organizations plan and improve their futures by investing in the bond market. And we wanted to help communities…
Muni Market Update – Blooming Spring Supply
March is an unpredictable time of the year in Chicagoland. A 70 degree day followed by hail and 30 degree temperatures. The fickle nature of weather this month has its literal green shoots, however, as daffodils and tulips start rearing their heads. The municipal market often moves in similar fashion at this time of the year, trading in fits and starts as it braces for the seasonal wave of supply that typically builds through late spring and into summer. In this environment, patience and selective investing are warranted. Investors should not fear accumulating cash at the moment, but be prepared to deploy it as more attractive opportunities emerge in the weeks and months ahead…
How to Mitigate Natural Disaster Risk in Your Muni Portfolio
The wildfires have spotlighted natural disaster risk present in municipal bond portfolios. However, over the past two decades from Katrina to Harvey, New York to California, municipal credit has remained durable and, in many cases – due to rebuilding efforts – emerged stronger than before…We expect municipal credit health to remain resilient in the Los Angeles area…We believe a concentration to Midwest and Texas issuers…
Perspective for Advisors
Tax Loss Swap into an SMA
Now is an opportune time to take advantage of tax loss swaps and, potentially, swap into a separately managed account strategy away from fixed income mutual funds and ETFs. This likely will reduce your clients’ tax burden and enhance their municipal bond investment vehicle.
Previous: Opportunity in Taxable Municipal Bonds