ADISA, a trade association representing the alternative and direct investment industry, has elected four new directors to its 2017 board. Because of a tie, the fifth new director will be determined in a separate run-off election.
The newly elected 2017 board members are Brandon Balkman of Orchard Securities, Austin Dutton of Bridge Valley Financial Services, Vali Nasr of Claraphi Advisory Network, and Brian Buehler of Triton Pacific Capital Partners.
The new board members join the returning board members, who were elected in fall 2015 to two-year terms, and include John Grady, 2017 ADISA president, DLA Piper; Mike Bendix, ADISA’s immediate past president, DFPG Investments; Mark Kosanke, Concorde Investment Services; Keith Lampi, Inland Private Capital Corporation; Larry Lyons, Kalos Financial; Greg Mausz, Preferred Apartment Communities; Larry Sullivan, Passco Companies; and Brad Updike, Mick | Law. Darryl Steinhause of DLA Piper also serves as a non-voting, volunteer legal counsel.
ADISA board elections occur in the fall; each director was elected to a two-year term through 2018.
Incoming ADISA President John Grady said, “We are happy that ADISA bases the formation of its leadership on open and inclusive elections—it helps us be the strong and diverse association we are and to serve the industry well.”
For the first time in the association’s history, the number of votes for the last director position resulted in a tie. The tied candidates are Peter Magnuson of Securities America and Robert Polley of Polley Financial Group.
To decide the tie, ADISA’s board of directors approved having the ADISA membership determine the fifth position in a run-off election. The election opened Monday, December 5th, and will close on Friday, December 9th at midnight ET.
The Alternative and Direct Investment Securities Association bills itself as the largest national trade association serving alternative investment and securities industry professionals who are active in offering, managing and distributing private and public direct investments. The association was founded in 2003 and has approximately 4,500 members.