VALPARAISO | After more than 30 years working in the commodities trading and brokerage business, Walt Breitinger has opened his own firm.
"I decided to go on my own," said Breitinger, president of Breitinger & Sons LLC. "I made the change to be able to walk to work in downtown Valpo and to be with my sons, (Ben and Alex.)"
Plus, changes in the ownership of the financial business where he had been vice president of commodity investments, from A.G. Edwards and Sons to Wachovia Securities to Wells Fargo Advisors influenced his decision.
"It's now basically a bank," said Breitinger, a Valparaiso University graduate and Times columnist. "I was there 26 years and I have a lot of respect for colleagues, but I felt having more research available and being able to function independently was important."
Ben Breitinger opened the doors of the agricultural and financial commodity futures trading and brokerage firm in October and was joined by his father, Walt, and brother, Alex, a month later.
Ben, 35, earned degrees in economics and business administration at Kalamazoo College and was a freight broker at CHRW in Chicago and did commodity analyses for Biomass Commodity Exchange in Wisconsin.
Alex, 23, has degrees in chemistry and history from DePauw University, and has performed analytical research with the National Oceanic and Atmospheric Administration.
"Their backgrounds provide us with important knowledge and information on what's happening in the commodities business that involves a whole gambit of politics and science," Breitinger said.
Each of the Breitingers is registered with the National Futures Association and licensed by the U.S. Commodities Futures Trading Commission.
The firm, which also trades foreign currency and precious metals, uses the research and trading services of ADM Investor Services, one of the world's larger commodities firms.
A wholly owned subsidiary of the Archer Daniels Midland Co., ADMIS has an equity capital base of more than $185 million and clearing membership on all U.S. commodity exchanges. It holds the funds, clears the trades and generates all brokerage statements for Breitinger's clients.
"It has a huge research department and I feel that is a big benefit to my clients." Walt Breitinger said. "They give us research in the energy, food, grain, livestock and metals markets, which is extremely helpful for clients' research and analysis."
Breitinger said the firm is primarily serving investors and/or speculators who are trying to make a profit buying and selling commodities, and hedgers, who are primarily farmers who use it to sell their crops or who hedge to protect themselves from price volatility.
"Many of our clients are expecting huge volatility related to the federal deficit and inflation," Breitinger said. "This is a very important and fast-growing business. It's exploding in importance and need."
Breitinger & Sons LLC
When opened: October 2009
Location: 360 Indiana Ave., Valparaiso
Phone: (800) 411-3888
Type of business: Commodity futures brokerage
Owner: Walt Breitinger
Number of employees: Three
Web site: http://www.indianafutures.com
