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Sponsored by: Harpswell Capital Advisors
Updated: September 27, 2021 2021 Giving Guide

Harpswell Capital Advisors

 

Go with the right specialist for investment advisory services

Jack Moore, Managing Partner at Harpswell Capital Advisors

In 2012, I was serving on three major investment committees in Maine and met with the Libra Foundation to discuss the real need for specialized investment advisory services for Maine’s smaller nonprofit institutions. While serving on the investment committees of Maine Medical Center, the Portland Museum of Art, and the University of Maine System, I saw firsthand the difference a dedicated institutional endowment advisor made versus those institutions that were dependent on retail wealth management advisors. All three institutions enjoyed in-depth and specialized advisory services aimed directly at their specific investment needs and it really made a difference for them!

Harpswell was created explicitly to bring this custom level of endowment advisory service to Maine’s nonprofit institutions. While we have since expanded to serve clients across the United States, from Oregon to Florida, we feel fortunate to have such a great niche where we can offer endowment advisory services to a world-class roster of nonprofits all while seeing Harpswell’s impact on their missions.

Harpswell’s goal was to combine the level of focused endowment advisory service that the large endowments experience with the civic mantra I saw firsthand at Vanguard. Prior to starting Harpswell, I left a prominent job at a hedge fund to join Vanguard because I was and still passionate about everything Vanguard stood for. After rising to the ranks of Principal, I left to start Harpswell and we too share their relentless commitment to being aligned with the best interests of all the investors they serve.

Far too often nonprofit institutions settle for having a ‘wealth’ advisor help them with their investments.

Wealth management is a retail consumer centric business; endowment management is an entirely different beast aimed at serving institutions like foundations and other nonprofits. Far too often nonprofit institutions settle for having a “wealth” advisor help them with their investments. For us, this is analogous to having your automobile mechanic build your house or better yet having your podiatrist put braces on your kids’ teeth. While both the auto mechanic and podiatrist may very well be talented professionals, their expertise lies elsewhere. Harpswell feels carpenters are best for building houses, orthodontists are the “go-to” for braces, and a dedicated endowment advisor is best equipped to serve the investment needs of nonprofit institutions.

This is one area that it is not worth settling for a second-tier option.

Since Harpswell’s genesis, the firm has carved out a niche and we love our narrow focus on serving nonprofit institutions. As the years go by, our depth and resources grow with us, and we are convinced this translates into being a better partner for the nonprofits we serve. We have the luxury of choosing to work with those institutions where we see the greatest impact and the best fit. We would invite you to reach out to explore how working with a dedicated endowment advisor can impact your successes and your mission.

Finally, Harpswell would like to thank Mainebiz for annually publishing this valuable source of information on Maine’s nonprofits, and we would like to recognize the great work the Maine Association of Nonprofits does as an advocate for all 7,172 of Maine’s nonprofits.

Thank you both!