Neil Kenagy has always been fascinated with financial markets, and recognizes the vital role investments play in people’s lives.
“I started my career with large firms, working with wonderful and experienced professionals, but knew that I wanted to run my own business someday,” says the owner of the Ridgefield,Connecticut-based investment advisory firm which manages more than $100 million in assets. “The investment research aspect was a lot of fun, but the way success was measured was all relative to benchmarks, and not to clients’ life and financial goals.”
Neil founded Colchester in 2000 with the objective of helping clients achieve their long-term financial goals without assuming excessive portfolio risk. As an independent advisory firm, Colchester is able to eliminate most potential conflicts of interest, which allows the firm to render impartial advice. Team members Neil, son Evan Kenagy, and Kathy Bradyare focused on “doing something every day that benefits our clients. There is always a new company to research or a big-picture topic to learn about,” Neil says. “We enjoy the constant challenge of understanding ever-changing markets and how they impact the lives of the families and individuals with whom we work.” Together with customized, unbiased investment advice, Colchester’s clients have peace of mind knowing that the firm is dedicated to working solely in their best interests.
Relationships Built on Trust, Integrity and Performance
When the Colchester team meets with prospective clients, they spend time learning about their circumstances, understanding the full scope of their goals, and gauging tolerance for risk. Says Kathy, the firm’s operations director,“we really get to know clients on a personal level.”
This approach can be in stark contrast to larger investment managers. “The size of major national firms often means that they are impersonal,” Neil says. “It may sound trite, but we strongly believe that relationships are critical and truly care about providing personalized advice. We work with a limited number of clients, all of whom have been introduced to Colchester by word of mouth, so we really understand how they think and what is important to them.”
As a fiduciary, Colchester has a duty to act in its clients’ best interests, based on their objectives. “Our sole focus is to do the right thing,” Neil says. “For instance, when a client asks ‘should I pay off my mortgage?’ the answer may be yes. That advice may result in clients withdrawing money that they have invested with us, but it is the right thing for them, given their financial circumstances.” Potential Colchester clients should feel comfortable knowing that the firm means what it says, and says what it means.
The Colchester Philosophy
Beyond its steadfast commitment to clients’ best interests, another aspect that sets Colchester apart is the firm’s well-defined investment philosophy. Running counter to the recent trend toward passive investing, Colchester espouses a strong belief in active and tactical asset management. As opposed to the “set it and forget it” methodology of passive managers, Colchester’s approach demands a consistently watchful eye on company and market trends,and regular assessments of risk and reward. Colchester believes that one-size-fits-all, cookie-cutter investment models are not the best choice for many investors, because investors often do not know what they own; they are, therefore, more likely to buy when markets are up, and sell when they are down, because emotions have an outsized influence on investment decisions.
Instead, Colchester’s philosophy emphasizes buying quality securities at attractive prices, with a focus on securities that generate income from either interest or dividends. A deep understanding of market history, specific company and industry attributes, and security valuations supports every investment decision. Colchester strives to offer its clients an opportunity to effectively participate in bull markets, while limiting downside potential in more challenging environments. Clients understand what they own and why, important during all market cycles, but particularly so when markets correct to the downside. “We help clients understand the importance of fear and greed in the investment process,” says Neil, “and stress the importance of not just financial resources, but emotional capital as well.”
Humility and Willingness to Help
While there are many capable people and thoughtful styles in the investment world, Colchester’s process keeps investing as simple and understandable as possible. As Kathy often notes, “We try to create an environment where clients do not feel insecure asking basic questions.” Neil sums up by saying that, “The biggest compliment we receive is when clients tell us they do not worry about their money because they know that we do.”
Outside of the office, Neil and Evan regularly volunteer in the local community, reading to kids in under-resourced neighborhoods, and supporting the Jericho Partnership in Danbury, Connecticut. Kathy, an avid photographer,has donated a number of her photographs to nonprofit organizations, and supports causes related to wildlife and conservation.
The information contained in this presentation is for informational purposes only and should not be construed as personalized investment advice and is not intended to constitute an offer to sell or a solicitation of an offer to buy securities. The purpose of this presentation is to assist the recipient in understanding the advisory services provided by Colchester and Colchester’s investment strategy. Detailed information regarding Colchester can be found in the firm’s Form ADV, which is available at www.adviserinfo.sec.gov.
This content was provided by Financial Service Directory. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.
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