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Wealth Management

The Broughton Group

225 SOUTH SIXTH STREET, Suite 4400

MINNEAPOLIS, MN 55402

Phone: 612-349-7878

E-mail: Walter Broughton

  • Welcome
    Image of Hudie and Walter Broughton

    "We want to earn your trust, which doesn’t happen overnight. Rather, it’s built through repeated interactions that help us deliver on your expectations. We never lose sight of this goal."

    Hudie Broughton, CFP®, CPM®
    Senior Vice President - Wealth Management Advisor
    Senior Portfolio Manager

    Full-service, personalized wealth management. So you can focus on what’s most important in your life.


    By combining a personalized atmosphere with the vast resources of a global financial services company, the Broughton Group is positioned to help you pursue your most important financial objectives for the meaningful life you desire.

    As a client, you should expect to be treated like family. That’s why we tailor wealth strategies to your individual needs. With our diligent goals-discovery process, deep knowledge of financial markets and rigorous investment strategies, we can address a range of family circumstances and financial goals. And our relationship with Merrill Lynch provides access to broad service offerings and deep pools of talent that can help us enhance your experience with us.

    This approach might not be for everybody. But by focusing on a select group of individuals, families and businesses, we’re better able to support our singular focus: Putting clients’ interests first.

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  • Process
    Photo of Broughton Group working

    “We do much more for clients than portfolio management. We want to offer wealth management ideas and strategies that can support your unique set of goals. We also work to educate you on what we feel are the appropriate strategies and financial behaviors for different market environments and life circumstances.”

    David Foster, CFP®, CRPC®, CRPS®
    Vice President
    Investment Associate

    Putting a knowledgeable team and disciplined approach on your side


    Our multidisciplinary financial team has a deep and diverse set of complementary skills. Together, these capabilities can help you address your most important financial concerns—including portfolio management, retirement planning, and access to charitable giving and wealth transfer through Bank of America.

    To help you evaluate your unique circumstances, we follow a three-stage wealth management process. The process starts when you first come to the Broughton Group, and continues throughout the course of our relationship.

    Stage 1. Discover
    To help you understand where your values and goals intersect with your financial strategy, we start by examining seven life priorities:

    • Family    • Home    • Work    • Leisure    • Health    • Finances    • Giving

    After discussing your goals in each of these areas, we use the Merrill Lynch Investment Personality Assessment (IPA) to help determine your mindset toward risk and your preferred investment approach.

    Stage 2. Advise
    Once we thoroughly understand the complexities and uniqueness of your situation, we use Merrill Lynch’s Wealth Outlook® process to help you develop a financial strategy. We also align that strategy with our team’s proprietary investment portfolios, which are specially designed to help address the long and short-term needs of clients with varying investing personalities. (For more on our active investment approach, see the “Investing” section of this site.)

    We can provide access to banking services through Bank of America, as needed, to help address your credit and lending needs. We also can coordinate with your other professionals, such as attorneys and CPAs, to help provide you a consistent wealth management experience.

    Stage 3. Monitor
    Life is complicated. Markets are unpredictable. Your needs evolve. That’s why we offer a process to monitor and adjust your wealth management strategy as needed.

    To help keep you on track, we also proactively interact with you through scheduled quarterly meetings—or whenever needed due to changes in your lifestyle or goals. We work with Merrill Lynch to assess portfolios against relevant benchmarks, review progress toward goals and make changes as needed.

  • Investing
    Photo of Walter Broughton and Steve Farrell

    “Other advisors may create overcomplicated investment solutions to make themselves appear sophisticated. We believe simplicity can be sophisticated. Our investment methodology seeks to deliver a disciplined and rigorous strategy to all clients.”

    Walter Broughton III, CFA®
    Managing Director
    Wealth Management Advisor
    Senior Portfolio Manager

    Actively managed portfolios designed for performance and risk management


    We are active investment managers who use a value-oriented, quantitative approach to dynamically diversify portfolios across a range of asset classes.

    In other words, we constantly evaluate global markets’ changing opportunities and challenges, so we can move in and out of investments as needed to help address your needs.

    This approach underlies our five proprietary investment portfolios, which we can match to a range of objectives, risk tolerances, time horizons and liquidity needs.

    We base our portfolios on our team’s decades of accumulated knowledge, as well as the latest market research, and seek to balance growth and income potential without taking on unnecessary risk.

  • Service

    “With outstanding advice and leadership, we can help you develop a disciplined investment strategy and sound financial habits for every stage of your life.”

    Steve Farrell, CFA® Vice President
    Investment Associate

    Going where needed to address the everyday and long-term needs of a distinct client base



    Our goal is to exceed clients’ expectations. By focusing our diverse skills on a select group of individuals, families and businesses, we believe we can best assist them in multiple aspects of their financial lives—whether that means helping develop strategies to address retirement planning and education funding goals, or coordinating with Merrill Lynch specialists to provide trust and estate planning services.

    Beyond our team’s wealth management capabilities, we can provide clients access to banking services through Bank of America, including:

    • Home financing
    • Securities-based financing
    • Wealth transfer and charitable giving


    Maintaining a smaller client base supports our goal of addressing clients’ diverse needs, while delivering family-like care and attention to every individual we serve. We can meet with you however it’s most convenient and comfortable—whether that’s at our office, in your own home, online or over the phone. We travel to see many of our clients in person.

    Image of The Broughton Group speaking with clients
  • Our Team

    A diverse team of experienced professionals working together for clients


    Each member of the Broughton Group contributes different strengths and knowledge to your financial situation. We’re not a loosely affiliated group of advisors, but a dedicated team that works together on clients’ behalf. With this approach, we can offer you a unified, professional and disciplined wealth management experience.

    Our senior portfolio managers, Walter and Hudie, work with investment associates Steve Farrell and David Foster to analyze your needs and make wealth management recommendations. Our advisory team is supported by client associates Marie, Sor and Michael, all of whom provide administrative assistance and help deliver an efficient and effective client experience.

    • Walter Thomas Broughton IV, CFP®, CPM®

      Senior Vice President - Wealth Management

      Wealth Management Advisor

      Senior Portfolio Manager

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      Walter Thomas Broughton IV, CFP®, CPM®

      Senior Vice President - Wealth Management

      Wealth Management Advisor

      Senior Portfolio Manager

      Phone: 612-349-7849

      Email: hudie_broughton@ml.com



      Walter Thomas "Hudie" Broughton IV has worked with Merrill Lynch since 2002, the year he began his career in financial services. Hudie coordinates all of the team’s activities. In addition, he leads the client relationship and communication processes, and serves as the primary contact for new prospective clients. As a Senior Portfolio Manager, he also sits on the team’s portfolio management committee. Hudie is a Certified Financial PlannerTM professional. He helps clients address their financial goals and develop strategies that can help them achieve the lifestyle they envision.

      Hudie is a specially qualified Senior Portfolio Manager who, in addition to providing traditional advice and guidance, can help clients pursue their objectives by building and managing his own personalized or defined strategies, which may incorporate individual stocks and bonds, Merrill Lynch model portfolios, and third-party investment strategies. Senior Portfolio Managers are provided a high degree of flexibility in constructing portfolios and selecting securities. When servicing clients through the firm’s Investment Advisory Program, a Senior Portfolio Manager may manage his strategies on a discretionary basis. After meeting certain additional requirements, a Senior Portfolio Manager may use his own strategies to manage the assets of clients working with other Merrill Lynch Advisors.

      Hudie received a B.M. from Oberlin College Conservatory of Music in Oberlin, Ohio. He volunteers as a board member of the MacPhail Center for Music. He and his wife, Sarah, live in St. Paul with their two sons. In his free time, he enjoys music, cooking, following the Minnesota Twins, cycling and snowboarding.

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    • Walter Broughton III, CFA®

      Managing Director - Wealth Management

      Wealth Management Advisor

      Senior Portfolio Manager

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      Walter Broughton III, CFA®

      Managing Director - Wealth Management

      Wealth Management Advisor

      Senior Portfolio Manager

      Phone: 612-349-7854

      Email: walter_broughtoniii@ml.com



      Walter has more than four decades of experience in financial services and joined Merrill Lynch in 1987. He is the founding member of the group and architect of the group’s research and investment methodologies. Walter focuses on portfolio management and select client relationships. He is passionate about understanding the relationship between research, risk and growth potential—an understanding that provides the foundation for the team’s portfolio management process.

      Walter is a specially qualified Senior Portfolio Manager who, in addition to providing traditional advice and guidance, can help clients pursue their objectives by building and managing his own personalized or defined strategies, which may incorporate individual stocks and bonds, Merrill Lynch model portfolios, and third-party investment strategies. Senior Portfolio Managers are provided a high degree of flexibility in constructing portfolios and selecting securities. When servicing clients through the firm’s Investment Advisory Program, a Senior Portfolio Manager may manage his strategies on a discretionary basis. After meeting certain additional requirements, a Senior Portfolio Manager may use his own strategies to manage the assets of clients working with other Merrill Lynch Advisors.

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    • Steven Farrell, CFA®

      Vice President

      Investment Associate



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      Steven Farrell, CFA®

      Vice President

      Investment Associate



      Phone: 612-349-7835

      Email: steven_c_farrell@ml.com



      Steve, who began his financial career at Merrill Lynch in 1998, assists the team’s senior portfolio managers and leads the Broughton Group’s research, trading and portfolio administration efforts. He also provides clients with insights on market conditions and portfolio performance.

      He earned his B.A. in management and history from the College of St. Scholastica in Duluth. A lifelong Minnesotan, Steve lives in Hugo with his wife, Kelly, and their two children. He likes to fish, hunt, snowboard and play golf. He is a member of the Twin Cities CFA Society and the Minnesota Golf Association.

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    • David Foster, CFP®, CRPC®, CRPS®

      Vice President

      Investment Associate



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      David Foster, CFP®, CRPC®, CRPS®

      Vice President

      Investment Associate



      Phone: 612-349-7952

      Email: david_foster@ml.com



      David, who joined the Broughton Group in 2013, leads wealth management strategy within the team, managing client relationships and guiding clients through our discovery process to help them develop their long-term financial strategies. He brings with him a wealth of knowledge garnered from working with Merrill Lynch as a retirement specialist since 1999.

      David is a graduate of Saint John’s University in Collegeville, Minnesota, and earned his M.B.A. from Emory University. He lives in St. Paul with his wife, Molly, and their three children, and enjoys coaching youth sports, traveling and spending time outdoors.

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    • Marie Johnson

      Reg Senior Client Associate



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      Marie Johnson

      Reg Senior Client Associate



      Phone: 612-349-7834

      Email: marie.f.johnson@ml.com



      As the lead client associate, Marie provides administrative support that helps coordinate all daily functions of the team. Marie began her career at Merrill Lynch in 1988 and came to the Broughton Group in 2014.

      Marie attended Pace University’s Lubin School of Business in New York City. She enjoys fishing on open water and ice, reading and spending time with her husband, Brian, and grown daughter, Ashley.

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    • Sor Her

      Registered Client Associate



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      Sor Her

      Registered Client Associate



      Phone: 612-379-7805

      Email: sor.her@ml.com



      Sor provides technical support and data gathering services to the team. He strives to deliver consistent, high-quality service to help clients address their goals. Sor joined Merrill Lynch in 2013 and joined the Broughton Group two years later in 2015.

      Sor graduated from the University of Wisconsin at Eau Claire with a B.A. in finance. He and his wife, Hua, have two daughters. In his free time, Sor enjoys fishing, camping, attending car shows, biking and is a die-hard Packers fan.

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    • Michael Johnson

      Client Associate



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      Michael Johnson

      Client Associate



      Phone: 612-349-7917

      Email: mjohnson73@ml.com



      Though Michael “MJ” Johnson is the newest member of the team, he’s an industry veteran with over 15 years of experience in various administrative and client supporting roles. He continues that history of service with the Broughton Group, proactively working with clients to address their service-related needs.

      As a South Dakota native, he earned is Associate Degree in Financial Services from the Southeast Technical Institute. When away from the office, MJ enjoys honing his craft as an actor and standup comic.

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