Innovest Turns 30 in 2026
Written By: Rich Todd
The summer of ’96 marked the beginning of the journey of a lifetime for Wendy Dominguez and me as we left the Wall Street world and founded Innovest as an independent, fee-only fiduciary investment consulting firm. Five of us loaded a Ryder truck with used office furniture – Wendy drove the truck – and started Innovest with a mix of confidence and trepidation. The truck might as well have been a covered wagon, since independent, fee-only investment firms were extremely rare back then.
Wall Street conflicts of interest were the catalyst for our entrepreneurial venture. To this day, bank solutions are still mixed with conflicts of interest: undisclosed compensation, proprietary products, misaligned incentives, and questionable lending practices. The culture is not client-centered; it is sales-oriented. Some may call themselves “fiduciaries” because the fiduciary rule has been watered down, but it’s absurd to claim that title while taking responsibility for only part of an investor’s portfolio.
Fast forward 30 years, and our five employees have grown to more than 60. Wendy, Bill Fender, and Steve Karsh are still putting up with me, thank goodness! Our approximately 25 original clients have grown to over 400, with many of our initial clients still with us today.
Growth remains important to us, but we promise our clients that they will benefit from it. We get stronger every year as both our life and market experience make us better and yet humbler about our success. Our team and resources are better than ever, and we challenge ourselves to add even more value to our clients. Growth is also especially important for our young partners who buy into our firm.
We are proud of our team, and many of them progressed this year! Abigail Thomas, Anna Behrdahl, Austin Cleveland, Brian Curran, Christine Fuhrman, Ian Gilbert, Luke Hollister, Marisa Joseph, Matt Foster, Natalie Miller, and Taylor Smith all advanced. Frank Cornett became a partner! Awards are also given annually to the top team members. Brian Curran and Taylor Smith received our 212° Award; Marisa Joseph and Christine Fuhrman received the Service to Others Award; Abigail Thomas received the Bill Fender Mentorship Award; and our top award, the Founders Award, was given to Sarah Newman. We are privileged to work with such outstanding professionals.
Our due diligence group, led by Sloan Smith, had a very strong year. We believe that on-site due diligence is a crucial element of our research process and that we are one of the only firms in the country that continues to hold on-site due diligence meetings. Values alignment remains a key theme for our clients, and we have done remarkable work in this area.
We continue to be thought leaders in our industry. Our professionals gave more than 30 speeches at a variety of conferences, covering topics ranging from our thinking on the capital markets to values alignment. In addition, our thoughts were published over 30 times in magazines, journals, and blogs.
Philanthropy is an important component in maintaining our culture of stewardship. Innovest is not just an investment firm. We are stewards to our clients as legal fiduciaries, to our employees and their families, and to the community. We encourage our team to attend formal monthly volunteer events during working hours, and in 2025, we collectively volunteered 3,000 hours in the community. Our professionals averaged over 50 hours of community service, supporting charitable organizations such as Christ in the City, Denver Public Schools, Florence Crittenton Services, and Cherry Creek Schools. We are also honored to have a special relationship with Arrupe Jesuit High School as corporate work-study partners. Innovest employs four interns from Arrupe, and their pay goes directly to offset tuition. The success of students at Arrupe is unprecedented: every student attends college, which is unheard of outside this incredible school.
For the 11th time in 12 years, Innovest was awarded the “Best Places to Work in Money Management” by Pensions & Investments. Each year, our professionals provide Pensions & Investments with very detailed survey responses to our process, practices, and culture. We are compared to hundreds of other firms, with a select few chosen to win the award. We are humbled by the recognition and are always seeking ways to improve.
Our annual client survey reflected the best scores we have ever received. Overall, our clients gave us a 4.8 out of 5.0 for their overall satisfaction. We received a Net Promoter Score of 91, which is extremely pleasing to us.
Above any accolades, accomplishments, or advances, we owe a tremendous amount of gratitude to our clients. For 30 years, the primary source of our growth has been client referrals, and the result has been a fulfilling journey. Our clients have prospered, and our young employees have grown to be wise and trusted colleagues. I owe a debt of gratitude to my co-founder, Wendy, who leads with an unflagging work ethic, undivided loyalty and dedication, and a steady hand that has made Innovest successful.
I wish you all a peaceful and prosperous 2026!