Investment Management

Annex Wealth Management’s investment decisions are guided by its Investment Policy Committee. The Investment Policy Committee meets regularly to monitor, report and discuss investment decisions.

Annex Wealth Management builds diversified, disciplined portfolios for specific risk categories ranging from conservative to aggressive growth and/or specific portfolio objectives such as income, capital preservation, or capital appreciation.


Dave Spano, CFP®

President, CEO

Derek V.W. Felske, CFA®

Chief Investment Officer

Brian Jacobsen, PhD, JD, CFA®, CFP®, CAIA, CBE

Chief Economist

Todd Voit, PhD

Chief Investment Strategist

Mark Beck

Chief Growth Officer

Steve Dryer, MBA

Managing Director of Operations

Matthew Morzy, CFP®

Director Of Research 

Jason Cooper, CFA®

Director Of Equity Research

Trevor Nargis

Supervisor – Trading Team

Ken Bellinger, MBA, CFA®

Research Analyst

Jack DeRoche


Nick Hillstrom



Core & Tactical Allocation

Annex Wealth Management employs a Core and Tactical Investment Strategy. We construct globally diversified portfolios using forward-looking asset allocation guidelines and employ tactical investment strategies around the core, where we seek to balance risks, identify opportunities and account for changes in economic and market cycles.

Customized Investment Selection

Portfolios are constructed from a combination of actively managed mutual funds, exchange-traded funds (ETFs), and individual stocks.

We will use actively managed mutual funds when we’ve identified active managers that we believe can outperform comparable index funds on a risk-adjusted basis.

We prefer mutual funds for asset classes that are less efficient such as international stocks or high-yield bonds. The higher expense ratio charged by mutual funds is justified by their opportunity to outperform comparable ETFs or index mutual funds.

We will use passive ETFs for asset classes that are very efficient, where it doesn’t make sense to pay a higher expense for an actively managed fund.

Customized Asset Allocation
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Featured Insights


Week In Review

Annex Wealth Management strongly believes in frequent and meaningful communication with our clients. We regularly provide exclusive insights from our Investment Committee to help our clients stay on top of the issues impacting their accounts. 



Inside Annex: The Annex Investment Committee


DISCLAIMER: Annex Wealth Management is not a law firm and our employees are not acting as your attorney. We do not provide legal advice or draft legal documents. The information contained on this site is general and should not be construed or used as a substitute for legal advice. The law differs in each legal jurisdiction and may be interpreted or applied differently depending on your location or unique situation. You are encouraged to consult with your attorney for legal advice and services.

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