MutualFundWire.com: A Midwestern Advisory Firm Enters the Retail Fund Biz

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Wednesday, April 26, 2017

A Midwestern Advisory Firm Enters the Retail Fund Biz

Lincolnshire, IL-based advisory shop Hedeker Wealth has just entered the retail mutual fund space with the launch of the Hedeker Strategic Appreciation Fund.

Dean R. Hedeker
Hedeker Wealth
Owner/Principal

As his first distribution push for the new fund, Mike McClain, portfolio manager at Hedeker is targeting the RIA space. The fund is currently available on the TD Ameritrade and Pershing platforms, and he's looking to get it approved with Schwab as well. Then, he plans to push it out to consultants and other RIA firms that may want to run it in an SMA account.

The fund launched with an institutional share class and a $1,000 investment minimum. So far, it has raised $50 million in assets. Ultimus will serve as series trust provider.

Hedeker is an advisory firm that previously outsourced its asset management arm. In March 2016, Dean Hedeker, owner and principal of the firm, brought McClain on board to bring the business in house and build it out.

The fund, which launched in December of last year, invests in convertible bonds, a market that's historically only been available to institutional investors, explains McClain.

"This as a strategy and asset class has been reserved for the top 1 percent of the market ... We bottled up that strategy that's only been reserved for the large portfolios," McClain tells MFWire.

Printed from: MFWire.com/story.asp?s=56123

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