Personal Attention in an Impersonal World by Forbes Magazine

Haven Wealth Group

Like most women of her generation, the 82-year-old widow had relied on her late husband to manage their finances and make all investment decisions. But after he died, she soon realized his investments of choice – bank CDs – would not generate a sufficient income to meet even her basic needs. At a loss, she turned to Haven Wealth Group (HWG).

The Houston-based boutique provides customized wealth management, including financial planning, portfolio management and retirement strategies, for high-net-worth individuals, foundations, endowments and pension funds.

“We explained why asset allocation was the single most important factor in determining the overall return on an investment portfolio,” says Richea Powell, HWG’s president and CEO. “And we told her that if she was willing to accept some volatility in her portfolio, she may be better served by investing in dividend-paying stocks and master limited partnerships.”

Separately Managed Accounts: a Higher Level of Customization

Powell and her partner, Charles Calvin, started HWG in 2008 after leaving major financial institution where they had worked together for many years. The goal, she says, was to offer a more personalized, client-focused approach to wealth management than is typically available at large firms

“We’re stock pickers,” Powell says. Rather than using mutual funds, which, she says, may result in higher fees and lower overall performance, HWG selects individual stocks and bonds, based on the client’s optimal asset allocation.“Each portfolio is customized to meet the client’s unique needs and risk tolerance, and is managed the way they want it managed. For many of our clients, this means they are willing to sacrifice higher returns in exchange for limiting downside risk in a falling market.

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