A Leader in Values-Based Investing
Stewardship (noun): the careful and responsible management of something entrusted to one’s care.
The Steward Family of Funds are values-based, screened funds consistent with widely held traditional values. The Funds invest in a broad range of investment options including enhanced index and quantitative index funds. Through disciplined asset allocation, the Steward Funds seek to provide long-term investment results that would reflect the returns of well-recognized indexes.
The Steward Funds are managed exclusively by Capstone Asset Management Company based in Houston, Texas.
- Founded in 1987, Capstone manages $4.9 billion in equity, bond and balanced accounts with clients nationwide.
- Capstone portfolio managers have provided faith-based screened investment portfolios for institutional investors since 1996.
- Capstone provides a disciplined investment process that has been in place since its inception.
- Capstone has extensive experience in enhanced and quantitative index methodology with a focus on controlling risk.
The Funds apply a comprehensive set of screens during the portfolio management process that allows investors to avoid owning securities in companies that choose to profit from businesses that are at odds with values-based investing.
- The funds apply strict exclusionary screens to companies involved in the businesses of abortion and pornography.
- The Consulting Team screens businesses that are principally involved in gambling, as well as alcohol and tobacco products.
- We use only avoidance screens and do not dilute the portfolio by seeking to invest in companies that promote any individual cultural or social issue.
- This methodology gives the Funds the ability to serve the rapidly growing number of investors seeking competitive investment returns without compromising their personal convictions.
Our Leadership Team
Michael L. Kern, III, CFA®
President & Chief Executive Officer
Mike joined Capstone in May 2015 as President & CEO of Capstone Financial Services, Inc. and its related entities.
- More about Mike
Mr. Kern’s professional career began in 1996 when he accepted an analyst position at Stout Risius Ross, Inc. (a financial advisory firm). He spent the next 19 years at SRR in a variety of roles including Managing Director in the Valuation & Financial Opinions Group, Head of the Investment Banking Group, CFO, COO and finally President, a position he held for the last six years of his tenure with the firm.
Raised in the Detroit area, Mr. Kern graduated with a B.S. in Finance and Business Economics from Wayne State University. He holds the Chartered Financial Analyst (CFA) designation as well as the Series 7, 63, and 24 securities licenses. In 2006 he was the recipient of Crain’s Detroit Business 40 Under 40 Award, an award given to young professional leaders. He is a member of the CFA Institute and Young Presidents’ Organization (YPO).
Mr. Kern devotes a significant amount of time to philanthropic activities. He currently serves on the Board of Directors of Embrace the Truth International, as well as his local church (Crosspoint Church). He is a past member of the Executive Board of Directors of Convoy of Hope, where he also served as Treasurer and Chairman of both the Compensation and Audit Committees, and is a past member of the Board of Directors of International Aid. Over the years he has contributed significant time and financial expertise to several churches across the country, which is his passion.
In 2012, Mr. Kern relocated to Houston, TX where he currently resides with
his wife, Amanda, and four children.
David N. Rentfrow, CIMA®
Managing Director & Head of Distribution
David joined Capstone Financial in January 2017 as Managing Director and Head of Distribution. In this role, David leads the Institutional, Intermediary and Steward Fund businesses.
- More about David
Mr. Rentfrow brings a strong distribution background to Capstone. He joined Capstone from BlackRock, Inc. where, as a Managing Director, he lead high performing teams helping to fulfill client needs utilizing a broad array of financial instruments, including: mutual funds; ETFs; Separately Managed Accounts and Alternative Investments. Prior to BlackRock, David spent time at Merrill Lynch and Manulife Financial and in total brings over 25 years of investment management distribution expertise to Capstone.
Raised in California and Illinois, Mr. Rentfrow holds a B.A. in Communication from Eastern Illinois University and a Master’s degree in International Business from Webster University in St. Louis. He holds the Certified Investment Management Analyst (CIMA) designation as well as the Series 7, 24, 63 and 66 securities licenses.
David splits time between his home in Missouri and Houston. He and his wife Susan have one son, Sage.
Executive Vice President
As Executive Vice President, Scott brings over 30 years’ experience in financial and investment services to Capstone where he directs Intermediary sales and key account relationships.
- More about Scott
Prior to joining Capstone, Scott served as first Vice President of Smith Barney for 16 years in Oregon and Northern California, and 11 years as Executive Vice President of AG Financial Trust and Investment Services in Springfield, Mo. Scott was instrumental in the creation of AG Financial Wealth Management Solutions, LLC and the Steward family of faith-based mutual funds. He served as Chief Investment Officer and member of the AG Financial Investment Committee from 1998 to 2008. He holds his Series 7, 63, 65, 66, and 24 securities licenses.
Raised in the Northwest and a proud third generation Oregon Duck, Scott and his wife Nancy reside in Houston, TX. They have two married children and six grandchildren.
As Product Strategist, Jordan is responsible for new business and relationship development, marketing, client services, and account maintenance.
- More about Jordan
He earned his Bachelors degree in Business Administration from Evangel University and then began his career with AG Financial Solutions in 2008 where he served as a Retirement Planning Consultant. Jordan currently holds his CERTIFIED FINANCIAL PLANNER™ (CFP) designation.
Jordan has served as board member of his local church and on the alumni board of Enactus for Evangel University students. He enjoys international travel, discovering new restaurants, and actively participating in his local church. Jordan and his wife reside in Houston Texas with their pet dog, Jack.
John R. Wolf
Managing Director – Equity Investments
John joined Capstone in 1996. He currently serves as the Managing Director of Equity Investments. He is primarily responsible for managing quantitative based equity portfolios, often involving social values screening for various institutions and funds.
- More about John
John began his financial services career in 1983 with The Dreyfus Corporation and subsequently moved on to Oppenheimer Capital in 1987 as a mutual fund accounting manager. In 1992 he became Vice President of New Castle Advisers, a start-up investment advisor specializing in covered call option portfolio strategies. New Castle was acquired by Capstone in 1996 where he was instrumental in Capstone’s expansion into managing quantitative equity portfolios.
Originally from the New York City area, Mr. Wolf graduated with a B.B.A. in Accounting from Hofstra University and an M.B.A. in Finance from Manhattan College. He currently holds his Series 7, Series 66 and Series 24 securities licenses.
In 2001 Mr. Wolf relocated to Houston, TX where he currently resides.
Victoria L. Fernandez
Managing Director – Fixed Income Investments
Victoria joined Capstone in July 2012 and serves as the Managing Director of Fixed Income Investments for the firm’s taxable fixed income products and funds.
- More about Victoria
Victoria began her career in 1994 at Fayez Sarofim & Company, a Houston-based investment advisory firm, spending the next 18 years in a variety of roles within the fixed income division including Head Trader, Municipal Portfolio Manager and as an Associate on the management team.
Born and raised in Houston, Texas, Victoria remained in her hometown to earn her Bachelor of Arts from Rice University and is currently completing her MBA from the May’s Business School at Texas A&M University.
As an active member of her community, Victoria has served on the boards of local non-profit organizations and religious institutions. She stays busy supporting her two children in their athletic and academic pursuits, along with volunteering in the National Charity League, a mother-daughter volunteer organization. Victoria and her husband, David, reside in Houston, Texas with their two children, Nicholas and Nicole.
Melville L. Cody
Senior Portfolio Manager
As a Senior Portfolio Manager, Mel has over 30 years’ experience. He is responsible for Capstone’s Large Cap Growth and TAAP portfolios.
- More about Mel
Mel’s background includes both buy side money management organizations and the sell side, where he worked at Sanders Morris Harris as Vice President of Institutional Research during his time there. He was recognized by the Wall Street Journal as “All Star Analyst”. On the buy side, Mel has worked at well-known financial institutions such as USAA Investment Management Company, a mutual fund group, and at American General as a portfolio manager and analyst. Mel also served as Co-Chairman of Roger H. Jenswold & Co. prior to its merger with Capstone.
Mel graduated from The University of Texas Business Honors Program and received his MBA from UT. He holds his Series 65 securities license. Mel resides in Katy, Texas with his wife and two sons. He enjoys tennis, swimming and fishing.
Zachary Wehner, JD
Zack joined Capstone in 2014. He currently serves as an Equity Portfolio Manager. He is primarily responsible for managing quantitative based equity portfolios, often involving social values screening for various institutions and mutual funds.
- More about Zach
A native Houstonian, Zack graduated from the University of Houston Law Center, where he received his J.D. & M.B.A. He is a member of the State Bar of Texas. He graduated magna cum laude from Southern Methodist University (SMU), where he earned a BA in history and a BBA in accounting. Throughout his academic career, Zack focused on financial analysis, derivatives and the relationship between law and business.
Mr. Wehner sits on Capstone’s Investment Policy, Valuation and Risk Management Committees. He currently holds the Series 7 securities license.
General Counsel & Chief Compliance Officer
Mr. Coppedge joined Capstone in June 2017 as General Counsel & Chief Compliance Officer. Prior to joining Capstone, Mr. Coppedge served as deputy general counsel for American International Group, Inc. (AIG), leading a team that provided legal and compliance services to the AIG’s global consumer product businesses.
- More about Jim
Prior to joining AIG, he served as associate general counsel for Invesco, Ltd., leading a team that provided legal and compliance services to the North American Retail Group (which included the AIM and Invesco mutual funds).
Mr. Coppedge’s professional career began in 1992 when he accepted an analyst position in the law department of USAA (a diversified financial services firm). He spent seven years at USAA, primarily supporting the firm’s mutual fund, brokerage, and investment advice businesses.
A native Texan, Mr. Coppedge earned a B.B.A. in Finance from Texas A&M University and a Juris Doctor from St. Mary’s University School of Law.
Mr. Coppedge devotes a significant amount of time to philanthropic activities. He currently serves on the Boards of Directors of Fort Bend Seniors Meals on Wheels, BRANCH Educational Scholarships, and the University of Houston Cougar Investment Fund.
Mr. Coppedge has lived in the Houston area for almost twenty years. He and his wife, Krista, have three daughters.