Firm profile

Fiduciary Management, Inc..

MILWAUKEE, WICRD 109149Registration Status: ApprovedEffective since April 18, 1980SEC # 801-15164Latest ADV June 9, 2026

Fiduciary Management, Inc. is an SEC registered investment adviser organized as a corporation with a primary office location in Milwaukee, WI. Its latest Form ADV filing, dated June 9, 2026, reports $11.4B in regulatory assets under management, 25 employees, 1 office, and 577 accounts.

Assets Under Management
$11.4B
Employees
25
Offices
1 office
Total Clients
570

Associated firm names

1 name listed
  • FIDUCIARY MANAGEMENT, INC.

Leadership

4 roles identified
CEOJohn S. Brandser
CCORyan J. Ladwig
COODaniel C. La Nuez

Advisory services offered

4 types reported
Portfolio management for businesses
Portfolio management for individuals and small businesses
Portfolio management for investment companies

Fee models offered

1 types reported
Asset based fees

Offices & Contact

Primary office

MILWAUKEE, Wisconsin, United States

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Primary office regionOther reported regions

Shading shows states and countries with reported offices. Cities are listed below; shading does not indicate service coverage.

Wisconsin

MILWAUKEEPrimary office

1 office records listed · 1 total offices reported. Counts can use different reporting dates. SEC filers may list only their largest 25 additional offices.

Contact and digital presence

ADV profile links

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$11.4Bas of June 9, 2026
Discretionary100.0%
$11.4B
100% of total RAUM100.0%
Non-discretionary0.0%
$0
0% of total RAUM0.0%
All regulatory assets under management are discretionary.

Client Coverage Demographics

Top client segmentIndividuals represent 34.7% of total clients.
Top client categories% of clientsClients
1
Individuals
34.7%
198
2
HNWI
34.4%
196
3
Charitable
16.3%
93
4
Pension Plans
6.1%
35
5
Corporations
3.7%
21
Categories with <5 clients
Insurance companies<5 clients
WRAP FEE PROGRAMS<5 clients

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$11.4B
Total Accounts577
10Y AUM Change$-11.9B (-51.3%)

Private Funds

Private funds reported by Fiduciary Management, Inc..

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Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees25
Clients per Employee23:1
10Y Employee Change+4 (+19.0%)

Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.


Ownership

Reported direct and indirect ownership ranges

Each range applies to a separate reported relationship and should not be added together.

Reported ownership ranges

Highlighted bands show the percentage range reported in Form ADV.

0%25%50%75%100%
TED DOUGLAS KELLNERDirect owner · Schedule AInterest in FIDUCIARY MANAGEMENT, INC.
25% to < 50%
PATRICK J ENGLISHDirect owner · Schedule AInterest in FIDUCIARY MANAGEMENT, INC.
25% to < 50%
JOHN SCOTT BRANDSERDirect owner · Schedule AInterest in FIDUCIARY MANAGEMENT, INC.
10% to < 25%
BLADEN JEFFREY BURNSDirect owner · Schedule AInterest in FIDUCIARY MANAGEMENT, INC.
5% to < 10%
JONATHAN TODD BLOOMDirect owner · Schedule AInterest in FIDUCIARY MANAGEMENT, INC.
5% to < 10%

Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Fiduciary Management, Inc...

No indirect ownership information reported in the source’s Schedule B.

Reported ownership and control details

Form ADV · Filing date 2026-06-09 · Schedules A and B

7 entries
#Owner / person & roleInterest in entityReported interestControl personTitle / status acquiredSource
1TED DOUGLAS KELLNERRETIRED EXECUTIVE CHARMANIndividualFIDUCIARY MANAGEMENT, INC.25% to less than 50%Code CYesRETIRED EXECUTIVE CHARMAN06/2017Schedule APDF page 20
2JOHN SCOTT BRANDSERPRESIDENT, CHIEF EXECUTIVE OFFICERIndividualFIDUCIARY MANAGEMENT, INC.10% to less than 25%Code BYesPRESIDENT, CHIEF EXECUTIVE OFFICER12/2022Schedule APDF page 20
3PATRICK J ENGLISHCHAIRMANIndividualFIDUCIARY MANAGEMENT, INC.25% to less than 50%Code CYesCHAIRMAN12/2022Schedule APDF page 20
4BLADEN JEFFREY BURNSEXECUTIVE VICE PRESIDENTIndividualFIDUCIARY MANAGEMENT, INC.5% to less than 10%Code ANoEXECUTIVE VICE PRESIDENT12/2022Schedule APDF page 20
5JESSICA PORTER TASKEVICE PRESIDENTIndividualFIDUCIARY MANAGEMENT, INC.Less than 5%Code NANoVICE PRESIDENT08/2011Schedule APDF page 20
6JONATHAN TODD BLOOMCHIEF INVESTMENT OFFICERIndividualFIDUCIARY MANAGEMENT, INC.5% to less than 10%Code AYesCHIEF INVESTMENT OFFICER12/2023Schedule APDF page 20
7RYAN JEFFERY LADWIGCHIEF COMPLIANCE OFFICERIndividualFIDUCIARY MANAGEMENT, INC.Less than 5%Code NAYesCHIEF COMPLIANCE OFFICER05/2026Schedule APDF page 20

Less than 5% may include zero. Code F identifies a role without specifying a percentage. Reported interests may overlap and may not include every owner. Total indirect ownership is not calculated.

Compliance & Disclosures

Filing dated 6/9/2026 2:58:57 PM

Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.

RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No

In the past ten years, have you or any advisory affiliate:

  • A1Been convicted of or pleaded guilty or no contest to a felony?No
  • A2Been charged with a felony?No
BMisdemeanors2 No

In the past ten years, have you or any advisory affiliate:

  • B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
  • B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No

Has the SEC or CFTC ever:

  • C1Found you or an advisory affiliate made a false statement or omission?No
  • C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
  • C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions5 No

Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:

  • D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
  • D2Found you or an advisory affiliate violated investment-related regulations or statutes?No
  • D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No

Has a self-regulatory organization or commodities exchange ever:

  • E1Found you or an advisory affiliate made a false statement or omission?No
  • E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
  • E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
  • FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
  • GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No

(1) Court actions

Has a domestic or foreign court:

  • H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
  • H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
  • H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No

(2) Pending civil proceedings

  • H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.