- people on the move
Financial firm adds partners
A local financial advisory firm brought two new partners on board.
Dirk Racette, partner at Calder Investment Advisors, located at 320 Hall St. SW, Suite 201, in Grand Rapids, recently hired Daren Shavell and Brian Riefepeters to join him at the registered investment advisory (RIA) firm as partners.
The pair began their new roles on Jan. 1.
Racette, a CPA, co-founded Calder Investment Advisors in 2006 as a rebranding of the firm Stokes & Stocking, which was founded in 1988.
He said he has worked hard to keep the firm independent, and the new partner/owners will help him do so.
“Through the years, I’ve been approached by numerous companies looking to buy us out. But all they want to do is rank our clients as numbers and raise our fees given that our management fee is far lower than the industry average. But our fees are lower because we’re passionate about what we do and helping people achieve their financial goals,” Racette said.
“It was important to me to bring on younger partners with that shared vision versus a motivation for making money.”
Shavell is a chartered financial analyst (CFA) charterholder. He has held several investment management roles throughout his career, including at Bear, Stearns & Co. and Deloitte Touche in New York prior to joining independent investment firms in Detroit and Grand Rapids.
He holds a Bachelor of Arts in psychology from the University of Michigan.
Riefepeters is a Fellow of the Society of Actuaries (FSA) and an enrolled actuary (EA).
He began his career as a consulting actuary for Watson Wyatt, now known as Willis Towers Watson, and Fidelity Investments in Chicago before leading the benefit and compensation departments at Amway.
Riefepeters holds a B.A. in mathematics, economics, finance and statistics from St. Olaf College.
Calder Investment Advisors
Calder Investment Advisors is a fee-only, independent RIA that offers “holistic and personalized financial guidance” and acts as a fiduciary for its clients.
The firm, which has seven advisers, manages brokerage accounts, IRAs, HSAs, 401(k) plans, charitable foundations, trusts and endowment funds.
The Calder Consulting Group, under the same ownership, offers strategic human resources analytics and employee total rewards consulting with an emphasis on retirement plans.