Investment Firm Appoints Second-Generation CEO to
Build on Culture of Trust
By StoryStudio on November 7, 2023
You may have heard the saying that building wealth is a marathon, not a sprint. That it takes patience and time to see returns on your investments. That kind of advice is sound—compound interest takes time to really pay off; the earlier one starts investing in their future, the better. However, there’s often another barrier to investing that can make getting started tricky: trust. Who can you trust with your personal savings and to look out for your best interests, and how can you tell who is best equipped to manage your assets with your long-term goals in mind?
When it comes to asset management, investors in the Capital Region have turned to Fenimore—a place where trust and accessibility are core, foundational values. Fenimore Asset Management, manager of the FAM funds, is a boutique investment management firm overseeing more than $4.27 billion in assets (as of September 30, 2023). For nearly 50 years, Fenimore has been a trusted investment partner to investors from Schoharie County to the Capital Region, and nationally.
How Fenimore Asset Management helps protect and grows capital over the long term.
Fenimore specializes in assisting individuals and organizations to create a plan for long-term investment growth based on where they are in their financial journey. Here’s how they do it:
Whether you have $100 or $1 million, Fenimore provides differentiated investment solutions to fit your unique needs. Investors can begin investing in mutual funds with an initial investment as low as $100, and gradually increase their contributions over time. Fenimore also offers separately managed accounts; a portfolio of individual securities that they manage on behalf of an investor. Fenimore strives to build their investors wealth over time while providing downside mitigation through individual stock selection as well as fixed income offerings.
Established in 1974, Fenimore has long been synonymous with quality and trust, helping protect and grow capital over the long term. With offices in Albany and Cobleskill, the firm offers a personal touch that's becoming increasingly rare in today's digital world. Newly appointed Chief Executive Officer Anne Putnam emphasizes the importance of this personal connection: “We are committed to service and want to meet our investors where they are. We want our investors to walk in and meet the teams managing their portfolio, building relationships and bolstering confidence.” Many of Fenimore’s Associates have been with the company for a long time—in some cases, their entire careers. This means that Fenimore’s clients enjoy real and lasting relationships with their asset managers, something the new CEO is passionate about.
Relationships are important to Putnam. She has been employed with Fenimore since 2006, serving first as a client relationship manager, and since 2017, as Senior Vice President of Sales, including the firms FAM Fund mutual fund strategies. Her roots with the company, though, run deeper than that. “My father, Tom Putnam, founded the firm in 1974. I grew up in the family business,” Putnam says, adding, “my education began at the kitchen table.” Accompanying her father on investment analysis trips gave Putnam the opportunity to see the operations of potential partners firsthand, and those lessons are still impactful today. “Seeing those trusted relationships [develop] as I was growing up is what drives me day-to-day to continue growing Fenimore,” she says.
Part of what makes Fenimore stand apart from other asset management firms is their investment strategy derived from another one of their core values: independence. As an independent and 100% associate and family-owned firm, when Fenimore provides investment management to an investor, they’re doing that without being on Wall Street. “Today, we have a team of ten credentialed investment analysts who are doing portfolio analysis, building on that stock by stock and company by company, and thinking about it like an owner. That is the beauty of intimately knowing what we own in our portfolios,” says Putnam.
That independence translates to a key differentiator for Fenimore. Their multi-generational team of analysts brings layers of experience to bear, conducting proprietary research and leveraging their collective insights designed to seize high-return investment opportunities while curbing risk. With over 230 years of collective investment management experience, the team at Fenimore has been delivering differentiated investment management solutions to individuals and institutions for nearly five decades.
With more than 231 years of collective investment experience on the research team (as of June 1, 2023), Fenimore uses this firsthand knowledge and market-tested process to conduct independent, in-depth research. The research team analyzes the companies and management behind the investments to gain insights—all of which helps create value for its investors over the long term.
“Fenimore helps protect and grow wealth by investing in a few high-quality businesses that we believe can grow and produce attractive returns over time,” says Drew. “The cornerstone to our process is conducting extensive due diligence on any business in which we may invest. Our fieldwork includes meeting with management, customers, and suppliers as well as on-site visits. Even though we may only buy a portion of a company, we approach it as if we’re buying the whole business.”
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SPONSORED BY FENIMORE asset management
-Anne Putnam, Chief Executive Officer
“My father, Tom Putnam, founded the firm in 1974. I grew up in the family business. My education began at the kitchen table ... Seeing those trusted relationships [develop] as I was growing up is what drives me day-to-day to continue growing Fenimore.”
Getting started
Helping grow wealth and saving for the future
The Fenimore service difference
-Erin Luciano, Relationship Manager
“We have the desire to go above and beyond for clients because we understand how much a relationship matters. This is not a transactional business. It’s relationship-based; it’s
about building trust.”
In the lifecycle of any enterprise, a leadership transition stands as a pivotal moment. While many companies navigate these transitions, few have the privilege and distinction of entrusting their legacy to second-generation leadership. Putnam’s appointment as CEO is more than just a succession strategy; it’s a statement that speaks of the firm’s cherished values of trust, accessibility, and a deep connection with the community. As Fenimore embarks on a new chapter, CEO Anne Putnam plans to embrace the future armed with the wisdom of her forebears: “The same culture—of values-based management plus investment philosophy and process of these last fifty years—will guide us forward.”
It's never too late to start investing. If you are thinking of getting started, or looking to work with a new investment partner you can trust, contact Fenimore Asset Management today. Call 800.721.5391 to speak with an Associate, visit fenimoreasset.com, or stop by their Albany or Cobleskill offices. The investment team at Fenimore can help you get a plan in place to meet your financial goals.
Judy and I are very happy with the Fenimore staff and the investment results!! THANK YOU.
- Don H.
Kevin Smith [Director of Private Client Services] is fantastic. He responds to all our inquiries very fast. He offers to meet as often as we would like and provides access to the investment teams as needed.
I have always had great advice and continued support
with all my financial goals.
Kevin [Director of Private Client Services] makes me feel like I could not have my life savings in a better place to see me through retirement.
Service continues at the same high level that I am used to for all the years I have been with Fenimore.
The Fenimore group is made up of true professionals. Not only are they good at WHAT they do - investment management, they are equally as good at HOW they do it. They communicate, are always available, and are timely in every respect.
Investor Testimonials
When it comes to investing, choosing the right firm can make all the difference. Scroll through the investor testimonials below and you’ll find what people appreciate about investing with Fenimore. It is more than their investing strategies, it’s the service, too.
Delivering service excellence
Fenimore’s focus on relationships isn’t just limited to investors, associates, and the businesses they invest in. The firm is committed to enriching the community through philanthropy, including volunteerism and charitable giving. “We remain committed to investing in our community and giving back,” says Putnam, “our vision is to transform lives and transform communities for generations; it’s deeply personal for us.”
In light of their dedication to people, from investors to associates and the community at large, it’s easy to see why Fenimore—locally rooted and independent—enjoys national recognition. Putnam sees this dedication as the key to living up to her family’s legacy for the next half century and beyond. She reflects, “It is humbling to walk in the footsteps of my forefathers. As we approach our 50th anniversary in 2024, Fenimore remains deeply rooted in the same core values and investment philosophy we started out with.”
This sponsored article about the Firm’s advisory services has been published by Hearst StoryStudio (“Hearst”), a non-advisory client that provides various marketing services to Fenimore. Cash compensation was given in exchange for the publishing of this sponsored content. Due to Fenimore's relationship with Hearst, material conflicts of interest include but are not limited to a financial incentive to promote this sponsored StoryStudio article. These compensated endorsements are intended to objectively showcase the Firm and its services; however, it is important to understand that compensation may have influenced the content of this article therefore we encourage clients and prospective clients to independently research and assess the Firm’s investment offerings, taking into consideration their unique financial goals, risk tolerance, and investment preferences before making any investment decisions.
