Heritage is an independent, privately owned, investment research firm. Heritage's Portfolio solutions are offered through Sowell Management Services a Registered Investment Advisor with more than $600 million of assets under management.

Heritage has offices located in the Chicago and Denver areas. 

Our investment management philosophy is based on three overriding principles:

  1. While there are never any guarantees in investing, our primary objective is to manage risk on a daily basis. We believe risk management plays a critical role in long-term investment performance. The goal is to keep portfolios in-tune with the risk/reward environment of the overall market environment at all times. We strongly believe that strategies designed to reduce exposure to market risk during severe declines should be part of every investor’s portfolio.
  2. Heritage's managers believe in focusing on market leadership in terms of stock selection and asset class allocation.
  3. Finally, Heritage believe that a flexible management style that can adapt to changing environments is vital in today's fast-paced market environment.

The Heritage Team

David D. Moenning
Mr. Moenning is President and Chief Investment Strategist for HCR. Dave owned his own investment management firm and has been managing client accounts on a discretionary basis since 1987. Thus, Dave has been live, on the market's firing line for more than 25 years. 

Donald B. Moenning
Don Moenning is head of equity research for HCR. Don  has been responsible for stock research since 2007 . Don has degrees in Economics and Business Leadership from the University of Puget Sound. 

Valerie Bialek
Ms. Bialek is HCR's Chief Information Officer. Valerie has worked in the investment management business and as an associate of Mr. Moenning's for more than 20 years.

We invite you to review our approach to the markets and our investment management programs.  And since we pride ourselves on personal service, if I can ever be of assistance, please do not hesitate to contact me directly.

Dave M.

David D. Moenning
President and Chief Investment Strategist