Novare ranks among fastest-growing wealth managers

CREDITS
& DEBITS

by Fred Tannenbaum (read article on CBJ website)

Bloomberg's Wealth Manager has named Novare Capital Management one of the fastest growing of the country's 370 independent financial advisory firms.

In its third annual list of top independent advisors, the financial news organization ranks Novare the nation's ninth fastest growing firm.

Novare's assets under management were up 81% at the end of 2002, compared with a year earlier.

"We are pleased with our growth, particularly in this difficult market environment," says Don Olmstead, one of Novare's three partners.

"Our emphasis on customized portfolios and a high level of service for each client is being well received among high-net-worth individuals and families," he adds.

Novare's growth has continued this year. The firm, which provides investment management for accounts $500,000 and larger, has seen its assets under management grow to $45 million.

"Our goal over the next year or two is to grow assets under management to $100 million and eventually have $300 million to $500 million under management," Olmstead says.

Novare was founded in March 2000.