fbpx

Fenimore Asset Management Celebrates 50 Years, New Albany Office

The world of investing has certainly changed a lot in the last half-century. But for Fenimore Asset Management, the core principles upon which the Cobleskill-based investment firm was founded 50 years ago are what have allowed the family business to prosper well into the 21st century.

In 1974, Tom Putnam founded Fenimore Asset Management after his family sold its textile business and in turn came into a small sum of money. He did so with four core principles, which current president Christian Snyder says endure today, in mind: offer exceptional service, help provide financial peace of mind, serve with integrity, and be a friend—to clients, investors and in the community. Adherence to those principles has allowed Fenimore not only to endure for the last 50 years, but to thrive and expand. In 2016, the firm opened a satellite location in Stuyvesant Plaza to serve its growing base of clients in the central Capital Region. It has since outgrown that space, and this year Fenimore celebrated the opening of its new, more prominent location on Wolf Road.

“A big part of our business is welcoming people through our front doors,” Snyder says. “You don’t need an appointment. We love when people walk in. It was probably a little hard to find our old office. It’s much easier to find the new one and we hope people will come visit.”

Fenimore Asset Management President Christian Snyder

That desire to be a part of the local community is perhaps a not-so-secret fifth tenet that has contributed to Fenimore’s success over the years. In 1984, Forbes magazine featured Fenimore in a story headlined “Making a Name in the Catskills.” The article asked, “Does being tucked away in a small town hurt a stock picker?” and answered, “Not if you know how to invest the way Thomas Putnam does.” Forty years later, with Putnam’s daughter Anne now at the helm, that clearly remains true. “We pride ourselves on being present and participating in the communities that we serve,” Snyder says. “We are a firm with a national footprint and a national presence, but the heart of the firm is in a small town. Local roots equals local values.”

Of course, community values only take you so far; Fenimore’s success is also derived from its employees’ knowledge of what constitutes a compelling investment. In deciding what businesses to invest in, Fenimore’s management looks for four criteria: businesses that are doing things the Fenimore team understands; have strong financial statements, low debt, and solid long-term prospects;  are run by experienced management teams (Fenimore makes a point to meet with all of its portfolio companies), and are available at a reasonable price relative to the economic worth of the company.

While Fenimore is very particular in choosing those portfolio companies, it accepts all types of investors. Whether you’re just getting started, doing a 401(k) rollover, saving for retirement, funding your child’s education, saving for a specific life goal, or acting as a fiduciary, Fenimore can guide you. When, though, is the right time to invest? “We believe time in the market beats timing the market,” Snyder says. “The earlier you invest, the better. If you have a long-term view, there’s no better time to invest than now.”

To get started, visit fenimoreasset.com/contact, or, as Snyder suggested, visit the firm’s new Wolf Road location. “This is home,” he says of the Capital Region, “and this is where our real focus is.”


Securities offered through Fenimore Securities, Inc. Member FINRA/SIPC, and advisory services offered through Fenimore Asset Management, Inc.

Past performance is not indicative of future results. All investing involves risk including the possible loss of principal. Before investing, carefully read the fund’s investment objectives, risks, charges, and expenses. FAM Funds’ prospectus or summary prospectus contains this and other important information about FAM Funds and should be read carefully before you invest or send money. To obtain a prospectus or summary prospectus and performance data that is current to the most recent month-end for each fund as well as other information, please go to fenimoreasset.com or call (800) 932-3271.

The principal risks of investing in the fund are: stock market risk (stocks fluctuate in response to the activities of individual companies and to general stock market and economic conditions), stock selection risk (Fenimore utilizes a value approach to stock selection and there is risk that the stocks selected may not realize their intrinsic value, or their price may go down over time), and small-cap risk (prices of small-cap companies can fluctuate more than the stocks of larger companies and may not correspond to changes in the stock market in general).

Neither this presentation nor any of its contents may be distributed or used for any other purpose without the prior written consent of Fenimore. The description of certain aspects of the market herein is a condensed summary only. This summary does not purport to be complete and no obligation to update or otherwise revise such information is being assumed. These materials are provided for informational purposes only and are not otherwise intended as an offer to sell, or the solicitation of an offer to purchase, any security or other financial instrument. This summary is not advice, a recommendation, or an offer to enter into any transaction with Fenimore or any of their affiliated funds. This presentation may contain statements based on the current beliefs and expectations of Fenimore’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Any references herein to any of Fenimore’s past or present investments, portfolio characteristics, or performance, have been provided for illustrative purposes only. It should not be assumed that these investments were or will be profitable or that any future investments will be profitable or will equal the performance of these investments. There can be no guarantee that the investment objectives of Fenimore will be achieved. Any investment entails a risk of loss. Unless otherwise noted, information included herein is presented as of the date indicated on the cover page and may change at any time without notice.

Broadview retirement ad

Latest articles

SEFCU ad

Related articles

spot_img