Retail & Institutional Distribution

Bernardi Securities, Inc. remains one of the few broker-dealers specializing exclusively in municipal bonds. The extensive individual and institutional investor network we’ve developed over decades – and the strategic use of it – enables us to deliver cost-efficient bond distribution with competitive pricing.

Focus on high-net worth investors

Individual investors own approximately 40% of outstanding municipal bonds directly. The extensive Bernardi investor client base for local bond issues oftentimes creates cost savings opportunities for our issuer clients. We maintain a database of current investor needs and contact them to gauge interest as we bring new issues to market. For example, we have a substantial base of investors and financial advisors with a preference for local Midwestern issues. Securing pre-sale commitments for our investor clients oftentimes lowers issuer borrowing costs.

Local institutional investors

Traditional institutional investors own roughly 35% of outstanding municipal bonds. Community banks, trust departments, insurance companies and pension funds are often interested investors. As a priority, we contact many local institutional investors prior to the sale of bonds and obtain their degree of interest. This process oftentimes reduces issuer borrowing costs.

Broader institutional

The remaining 25% or so of outstanding municipal bonds is owned by the broader market of institutional investors. Bernardi contacts targeted lists of bond funds, hedge funds, arbitrage firms and other general institutional investors that match the profile of an issue.

Our proven distribution capabilities and company commitment to one bond issue at a time have helped us become a leader in the municipal bond community.