Three Omaha investment advisors in 'Top 100'

[eomaha]

Three Omaha investment advisers rated among best in nation

Omaha's reputation for sound-minded money management rests largely on the billionaire shoulders of the city's "oracle," Berkshire Hathaway Chairman Warren Buffett.

Now a ranking of the top 100 financial advisers by the Dow Jones financial publication Barron's has placed three Omahans - Ron Carson, Roland Manarin and Todd Feltz - among the best nationwide. It was the first such ranking of financial advisers by the investment publication.

R.J. Shook, who has written about the financial advisory industry for a decade in his "Winner's Circle" books, compiled the rankings based on several qualifications, including total assets under management, regulatory record and the array of financial products offered.

"I would trust my whole family to any one of these people; that's the kind of diligence they have," Shook said from Boca Raton, Fla.

The three Omahans each manages hundreds of millions of dollars for a small coterie of wealthy investors, many of whom reside in Nebraska and Iowa.

With several Fortune 500 firms and a large number of successful small employers, the Midlands have many wealthy families that want to manage their money wisely, said Feltz, president of Feltz WealthPlan.

"In the Midwest, it's not a mystery that they're really well-grounded people. They're not Silicon Valley people with parking lots full of Porsches," said Feltz, who is ranked 93rd in the Barron's list.

Carson, ranked 36th, said his job is not to find the hot sector that will take off and make a fortune for his clients but rather to preserve the wealth his clients already have.

"The mandate of all our high net worth clients is, 'Don't make me rich. I already am. I just don't want to get poor,'" said Carson, president of Carson Wealth Management.

"Twenty years ago, clients bought information and research. Today you can't sell information and research, there's so much out there. They want a seamless wealth management system," Carson said.

To that end, advisers who used to work independently now employ large teams that include accountants, lawyers and brokers, among others.

Manarin, ranked 67th and president of Manarin Securities Corp., was mentored by John Templeton, who started some of the earliest mutual funds and is widely regarded as one of the best stock pickers of the 20th century.

Manarin said he requires that his clients bone up on their investment education. He offers a seminar series for new clients that helps them take a more dispassionate approach to investing.

"People act based on emotions, so whatever the wave de jour, that's what the public wants. Our clients, of course, have been educated, so they're less likely to be moved by emotion," he said.

All three Omaha advisers share a common pedigree. Carson and Feltz are still affiliated with Linsco and Private Ledger Financial Services, which provides research and brokerage services for financial advisers. Manarin worked with LPL until 1995.

The three charge clients a percentage of assets under management, ranging from 0.4 percent to 1.6 percent annually, depending on the amount managed. Their investment vehicles range from traditional stocks, bonds and mutual funds to more complicated assets, including hedge funds and private equity funds.