SNW Asset Management (“SNW”) began in 2002 as a subsidiary of Seattle-Northwest Securities Corporation (founded in 1972), specializing in U.S. dollar-denominated taxable and tax-exempt fixed income investment management. In July 2013, SNW Asset Management became an independent Investment Adviser. We have grown to approximately $2.5 billion in assets under management and serve more than 1,600 clients on a separate account, actively managed basis. Our clients include Registered Investment Advisors, high net worth individual investors, corporations, trusts, government entities, financial institutions and non-profit organizations.
We exist because investors deserve a fixed income portfolio that is built, managed and serviced with their best interests in mind. We achieve this by acting as disciplined and responsive fiduciaries to our clients and by being ethical owners of an innovative business.
SNW adds value to clients’ fixed income portfolios by doing thorough, ongoing credit analysis on each security within our clients’ portfolios, while also actively managing the interest rate and sector risk inherent in fixed income investing.
Eddie Bernhardt, CFA, President and CEO
Eddie Bernhardt joined SNW Asset Management, a subsidiary of Seattle-Northwest Securities (SNWSC), in July 2005 and became the Managing Director of the business in 2010. When SNWSC was bought in a private transaction in 2013, Mr. Bernhardt was unanimously selected by the Board of SNW Asset Management to become the President and CEO of the new organization. Mr. Bernhardt’s experience includes more than 15 years of fixed income trading and portfolio management. At Wells Fargo Securities, he traded taxable and municipal bonds and built high net worth fixed income portfolios for Private Client Services. He has an in-depth understanding of balance sheets and investment portfolios for depository institutions through his tenure as portfolio manager with a regional banker’s bank for credit unions. Mr. Bernhardt holds a BA from the University of California at Santa Cruz. He has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Society of Portland.
Mark Baker, EVP, Head of Business Development
Mark Baker joined SNW Asset Management in February 2011. His experience includes over 20 years of executive-level sales and business development leadership. In the past 15 years Mark has been instrumental in driving revenue for privately-held and start-up companies as they raised capital for the early stages of company growth. Mr. Baker has a BA in Finance and Marketing from Western Washington University.
Tim Benzel, CFA, EVP, Head of Trading
Mr. Benzel joined SNW in 2010. His investment experience includes the analysis and trading of a variety of fixed income securities, including corporate, municipal, treasury, agency and mortgage backed securities. Prior to joining SNW, he was as an assistant fixed income portfolio manager for Neuberger Berman Private Asset Management, where his responsibilities included research and ongoing due diligence of individual credits. Mr. Benzel has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Society of Seattle. He is a graduate of Linfield College.
Jacob Brownfield, CPA, CFO
Jacob Brownfield joined SNW Asset Management in July 2013. In his previous role, Mr. Brownfield was the Assistant Controller of Seattle Northwest Securities Corporation where he was licensed as a Financial and Operations Principal. He also has prior experience in public accounting having performed audits of SEC-registered and privately-held companies. Mr. Brownfield earned his Bachelor of Arts in Business Administration and his Masters of Professional Accounting from the University of Washington. He is also a licensed CPA and a member of the Washington Society of CPAs.
Lisa Cook, AWMA, eVP, Head of Client Services
Lisa Cook joined SNW Asset Management in June 2015. In her previous role, Mrs. Cook was the Director of Client Services & Channel Sales Management at Freestone Capital Management. She brings more than 15 years of experience in this field and has considerable experience in one of our target client markets (independent RIA’s). She has a Bachelor of Arts in Business Administration from Western Washington University with a concentration in Marketing. In 2014 she earned the Accredited Wealth Management Advisor designation.
Ken Frey, CFA, VP, Corporate Credit Analyst
Mr. Frey joined SNW in 2016 as a corporate credit analyst and serves on the investment committee. He has over 25 years' experience as a buy-side credit analyst, director of research, portfolio manager and strategist at a number of firms including State Street Research, Nationwide Mutual and Dwight Asset Management, a Goldman Sachs Company. Ken was also a Standard & Poor’s credit analyst covering large, complex financial institutions. Ken holds an MBA from New York University, a MPS from Cornell University and a BA from Heidelberg College. Mr. Frey has earned the right to use the Chartered Financial Analyst designation. He is the past President of Stark Mountain Foundation, a 501(c) charitable organization based in Vermont.
Samuel V. Hecker, VP, Municipal Credit Analyst
Mr. Hecker joined SNW in 2012. He serves as a municipal credit analyst, working with the portfolio team to review and rank municipal bonds. His background is in both public finance and fixed income asset management, with experience in fixed income performance attribution and risk and expertise in budget analysis and state and municipal revenue structures. Prior to joining SNW, he was a fixed income analyst at T. Rowe Price, covering securitized products and a global multi-sector fixed income strategy. Earlier, his public sector career included work for the Mayor of Baltimore as a Legislative Fiscal Analyst, lobbying the Maryland State Legislature on public finance issues, and for the City of Baltimore’s Finance Department as a Budget and Management Analyst. Mr. Hecker holds an MSF from Loyola University Maryland, an MPA from the University of Washington (Evans School of Public Affairs), and a B.S. in Geography from Shippensburg University of Pennsylvania.
Lisa Krulish, AVP, Trading and Operations Specialist
Lisa Krulish joined SNW Asset Management at its independence in July 2013 and brings over 20 years of experience in the finance industry to her role as AVP of Trading and Operations. Prior to joining SNW Asset Management Lisa worked for Seattle-Northwest Securities Corporation as Vice President and Operations Manager. Lisa partners with portfolio managers in trade execution and trade flow automation, as well as externally with broker/dealers and custodians to optimize trade settlement.
Dorothy Michak, VP, Head of Operations and CCO
Dorothy Michak joined SNW Asset Management in May 2015. Her previous roles include Director of Operations and Compliance for Seattle-Northwest Securities Corporation and Co-Manager of the Global Middle Office Fixed Income Sales and Trading for Piper Jaffray. With over 30 years’ experience as an operations and compliance professional she has served on industry committees relating to compliance and the fixed income markets. Ms. Michak attended Washington State University and is currently completing a Bachelor of Science in Business Finance from the University of Phoenix.
Rebecca Miles, Executive Assistant
Rebecca Miles joined SNW in March 2016. Ms. Miles was a Financial Advisor for three years in the greater Seattle area and has a passion for the field of finance. She graduated from the Michael G. Foster School of Business at the University of Washington with a B.A. in Business Administration and is a member of the Ballard Rotary club. She holds her series 63 and 66 licenses and is working towards a CFP credential.
Jordan Mixsell, AVP, Research and Trading
Ms. Mixsell joined SNW in 2012. Prior to joining SNW full-time, she was an intern with the SNW portfolio management team, where her primary responsibility was municipal credit analysis. Ms. Mixsell has a B.A. in finance and mass communication from Linfield College. She holds a series 65 license and has passed the first level of the CFA.
Haley Reutimann, Client Service Associate
Haley Reutimann joined SNW Asset Management in August 2016. Previously, she developed client content and communications for the research department at Fisher Investments. Haley currently serves as the main point of contact for clients. She is passionate about providing top-notch client service and building strong, individually focused relationships where the client is the center of it all. She has a B.S. in Finance with an emphasis in Economics from Montana State University.
David Richardson, VP, Business Development
Mr. Richardson joined SNW Asset Management in 2015 with over 15 years’ experience in both Institutional Fixed Income with Clearwater Advisors and Private Wealth Management with Goldman Sachs. He is primarily engaged in expanding utilization of SNW’s unique, customizable platform through corporations, wealth management platforms and family offices. Mr. Richardson holds both a BS in Marketing and an MBA in Finance from Brigham Young University.
Brittany Russo, Client Service Associate
Brittany Russo joined SNW Asset Management in October 2015. Prior to joining SNW, she was a Communication Analyst for Benefit Administration Company. Ms. Russo has a B.A. in English from Pennsylvania State University. She is responsible for serving as the main point of contact for clients.
Mark Stockwell, VP, Municipal Credit Analyst
Mr. Stockwell joined SNW in 2015 and is the primary analyst for tax-backed credits in the western region and for transportation debt. He has nearly 20 years of experience as a buy-side municipal bond analyst at Vanguard, PNC, and Standish Mellon. At PNC, he was Director of Municipal Research, establishing a buy-side credit and investment research process, responsible for the coordination of sector and credit recommendations for separately managed accounts and muni bond funds. He also was the primary analysts for western region credits and various revenue sectors at Vanguard, PNC and Standish Mellon. Mr. Stockwell holds a MPA and a Master of Planning from the University of Southern California and a BA in Economics/Business and Political Science from Westmont College. He was Chairman of the National Federation of Municipal Analysts in 2010 and currently serves as co-chair of NFMA’s Disclosure Committee.
Galen True, CFA, VP, Portfolio Manager
Mr. True joined SNW in 2009. His primary role is focused on monitoring the municipal bond market, analyzing relative value and trading tax-exempt bonds on behalf of client portfolios. As a member of the investment committee, Mr. True is actively involved in setting investment strategy. Prior to joining SNW, he was an intern with Paragon Investment Management, where he supported portfolio managers with research as well as the development of screening models. Mr. True graduated in May 2008 with a B.S.M. in Finance and Accounting from Tulane University’s A.B. Freeman School of Business. He has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Society of Seattle.
Glen K. Yelton, VP, Head of Impact Research
Glen K. Yelton joined SNW Asset Management in 2015 as the Head of Impact Research. Over the past decade and a half Glen has been heavily involved in the ESG/Impact investing industry, spending the last 10 years managing the ESG research program at IW Financial. Prior to that experience, Glen oversaw the development and operation of a registered investment advisor’s research program focusing on ESG data collection. Glen has provided competitive intelligence research for a variety of Fortune 100 clients in a wide range of industries including consumer products, automotive and technology. He also served as an interrogator in the United States Army and as a key participant in the development of several business intelligence and corporate information database-driven software products. Mr. Yelton received his B.S. degree from East Tennessee State University.
Karl V. Leaverton, Chairman Of The Board
Prior to joining SNW Asset Management as Board Chairman, Karl Leaverton was President of SNW Securities Corporation. He has more than 30 years of financial services experience, including serving as president of the private client group for RBC Wealth Management from 2006 to 2009 and as regional director for the 13 years prior. Mr. Leaverton earned a BS in Chemical Environmental Science from the University of Puget Sound and completed the course work for a BA in Economics. He earned a Master of Science degree in Infrastructure Management from Stanford University.