July 21, 2004



by Rick Rothacker

(Bloomberg Wealth Manager article)

Novare ranks 37th among fast-growing firms

Novare Capital, a Charlotte investment firm, was ranked the 37th fastest-growing independent financial advisory firm in the July/August issue of Bloomberg Wealth Manager magazine. Novare, founded by Don Olmstead and William Baynard in 2000, increased its assets by more than 78 percent in 2003 to about $51 million at year's end. Olmstead credited the growth to customer service and personalized portfolios. The other Charlotte firm ranked by the magazine was Matrix Wealth Advisors, which was the 166th fastest-growing firm. It had about $82 million in assets under management at year's end, up 37 percent. -- RICK ROTHACKER