South Bend Wealth Management
Our investment philosophy, mindset, approach, and structure set Devotion Capital Management apart from the rest of the wealth management industry. If this is what you are looking for, then you are in the right place.
How We Help You Manage Wealth
Value Investing Philosophy
At Devotion Capital we do not pool our clients’ assets. Portfolios therefore can be tailored along a variety of ethical and social lines, such as:
- ESG – environmental, social and governance goals
- Family, religious, or cultural values and preferences
- Sin stock exclusions – alcohol, tobacco, gambling, marijuana, etc.
- Separately managed accounts that reflect your values.
Fee Only Model
We don’t sell any commission-generating products.
Many firms make a shocking amount of their income, sometimes the majority, by recommending their clients to the highest bidder. We accept no commissions or income of any kind. Our recommendations are made solely on the merit of the product and how well they will suit your needs.
Know What You Own
We hold meaningfully sized positions, and our clients can clearly see what they own.
We want you to clearly understand what you are invested in, and why you are invested in it. We hold positions of meaningful size. We curate a diverse yet potent collection of positions that can be easily understood. Your gains and understandings are not diluted in a sea of hundreds of small positions.
Wealth Management Philosophy
We favor strong balance sheets, low debt levels, strong franchise values, sustainable earnings, competitive advantages, and intelligent management teams who think like owners.
These and other fundamental factors are far more important to us than a company “beating expectations”. What ultimately matters is Price and its relationship to a company’s underlying value. This dictates long term returns. In the search for value, Devotion Capital identifies many potentially undervalued companies for examination.
How it Works
What Do We Want To Implement and Control?
Identify and quantify client value preferences
How stringent do you want to be?
Discuss implementation options for individual portfolios relative to individual holdings sectors and future investment opportunities.
What does that look like in the every day management of your portfolio?
Discuss implementation options for individual portfolios relative to individual holdings sectors and future investment opportunities.
Henry W. Schacht CFA
Henry W. Schacht is the Founder and Chief Investment Officer of Devotion Capital Management, which was established in 2002. He has held the Chartered Financial Analyst designation since 1999. Henry earned an MBA from the University of Chicago Graduate School of Business with concentrations in finance, accounting, and economics in 2002. He graduated from the University of Notre Dame with a degree in finance and a minor in theology in 1995. Henry is a member of the CFA Institute (formerly the Association for Investment Management and Research – AIMR), the Investment Analysts Society of Chicago (IASC), and the National Association of Corporate Directors (NACD).
Henry grew up in the Florida citrus industry in Vero Beach, Florida. The business was founded in 1950 by his grandfather, a serial entrepreneur, who had always nurtured the romantic idea of owning a farm and growing citrus from his earliest days. Growing up in agriculture taught Henry the value of hard work, but perhaps more importantly, incredible lessons about business. He learned the basics of price vs value, the dangers of extrapolating the recent past into the distant future, and the primary importance of cash flow. An early trip to Disney World got Henry thinking about the difference between commodity businesses and a franchise business with pricing power – that some businesses are inherently profitable, while others are at the mercy of forces outside management control. It turns out that growing up in a farming family was a perfect training for a future value investor.
The path to Devotion Capital was paved by the early and kind mentorship of many. Several deserve special mention. Maternal grandmother Jeanette Riel was a successful investor and meticulous bookkeeper, who fired a fascination with all things financial. She also successfully ran a variety of businesses starting at a young age and encouraged Henry’s entrepreneurial bent. Family friend and stockbroker Claude Lee Ives Jr. provided practical guidance in the early years. Henry spent many nights watching Wall Street Week with Louis Rukeyser with his father. This led to a discovery of Warren Buffett and by his early teens, Henry had read The Intelligent Investor and other value investing classics. After college graduation, Henry had the good fortune to meet industry veteran Phil Young whose guidance and support led to an early equity research position. Without these individuals, Devotion Capital would not exist.
Outside of the investing world, Henry enjoys archery, reading, and travel, especially spending time and exploring with his 2 children. He is the owner of Michiana Archery, one of the Midwest’s premier archery facilities. Henry is a USA Archery Level 4 Coach/Trainer and the Head Coach of the University of Notre Dame’s Archery Club. Henry is an Eagle Scout and is involved with Scouting USA at the local level.
One Simple Fee
1 percent per year. Paid quarterly.
(0.25% of managed assets per quarter)
We are 100% fee based. We don’t earn any fee or profit other than our 1% annual fee. No referral fees, no commissions, nothing else.