Minority Interest in LR Investment Firm Sold to Staff

Greg Hartz, founder and co-owner of registered investment advising firm Foundation Resource Management of Little Rock, and Mark Millsap, co-owner, recently sold a minority interest in the firm to five staff members. 

The staff members are CFO and Chief Compliance Officer Abby McKelvy; Zach Riley, portfolio manager and trader; Chris Fleischmann, portfolio manager and research analyst; John Garmon, director of business development; and Meredith Moll, portfolio manager and research analyst.

Hartz said in a news release, “We are thrilled to have identified, hired and helped develop the future leaders of our firm that will work with our clients for many generations to come. Additionally, this team will help our firm grow in a mutually beneficial manner for our clients and our company.”

Hartz and Millsap will continue to jointly own a majority of the firm and will continue to work with current and new clients.

Millsap added, “We are proud of the depth and diversity of skills that this group of future leaders brings to our firm. While our goal has never been to be the biggest, our desire has been to assemble a highly talented and experienced team of value investment professionals. We believe we have accomplished that, and we expect our clients to be the long-term beneficiaries.”