Mission and Values
Provident’s goal is to utilize our focused multi-cap core growth equity strategy to increase our clients’ inflation adjusted purchasing power over successive market cycles. Provident serves as the core, and in many cases, the sole manager because in our view asset allocation is the primary determinant of investor results.
Provident aims to provide its clients with superior service. Each client is served by a dedicated portfolio manager and an administrative officer, supported by an experienced and professional administrative/operations support staff. Provident is a closely held company and is employee-owned.
We believe that a compact, flexible and client-focused firm possessing both investment management expertise and fiduciary trust powers can provide value to families and businesses looking for a stable group of experienced professionals to manage their financial assets and affairs.
Philosophy
Provident seeks to provide a comprehensive solution (asset allocation, individually managed portfolios, administration and custody) for clients seeking purchasing power growth over each complete investment cycle, which we define as a five to seven year time period which includes both a 30% stock market advance and 20% decline.
We believe in:
The greater growth potential of common stocks
Concentrated selection
GARV: growth at reasonable valuation investing
Active asset allocation
Tax efficiency
History
Provident Investors, LLC opened for business in the spring of 1999 in Pewaukee, Wisconsin with a team of experienced professionals, including: Scott Harkness, CFA*, who had been the Chief Investment Officer of Firstar Investment Research and Management Company (FIRMCO) for twelve years and has forty-six years of investment experience and Michael Schelble, CFA*, who had been a Vice President and Portfolio Manager with FIRMCO and has thirty years of investment and trust experience.
On October 5, 2000, the State of Wisconsin issued a trust charter to Provident Trust Company, which succeeded to the business of Provident Investors, LLC. Lee Wolcott, who had been a Vice President and Head of Personal Trust Administration at Firstar Trust Company and has over fifty years of trust and investment experience, joined shortly thereafter.
Tom Tuttle joined Provident in 2010 and has more than thirty-one years of legal, trust, and wealth management experience as President, Managing Director, and Head of Wealth Management at PrivateBank and as Vice President and Director of Wealth Management at M&I Trust Company.
* Qualification as a CFA® charter holder requires: a bachelor’s degree from an accredited institution or equivalent education or work experience; successful completion of all three exam levels of the CFA program; forty-eight months of acceptable professional work experience in the investment decision-making process; fulfillment of local society requirements, which vary by society; and entry into a Member’s Agreement, a Professional Conduct Statement and any additional documentation requested by CFA Institute. CFA® and Chartered Financial Analyst® are registered trademarks owned by the CFA Institute.