Why Adapting Isn't the Same as Market Timing
Adaptive investing isn't about predicting the market's next move. It's about making disciplined portfolio adjustments based on valuations, long-term opportunities, and each investor's goals.
Jeff Keen
About Us
AZA Capital Management is an independent, fee-only investment adviser in Chicago, pairing adaptive portfolios with personal attention.
Our story
AZA Capital Management began in 1997 in Birmingham, Michigan, serving families across metro Detroit. Over time and through referrals, our client base grew throughout the Midwest and beyond.
When the 2008 financial crisis exposed the limits of traditional, static asset allocation, our team saw firsthand what it means to manage portfolios that can adjust as conditions change. The next year, the firm opened an office in Chicago and introduced the investment analysis engine that still sits at the center of our adaptive strategies.
In 2016, Chris Recker, Jeff Keen, and Mike LaFontaine, who had built the Chicago office together, took over the firm and refined the adaptive approach that guides our portfolios today. Nearly 30 years in, our focus hasn't changed: understand what each client needs, balance those needs against current market conditions, and stay personally accessible, so the people making the investment decisions are the ones you talk to.
Firm at a glance
- Founded
- 1997
- Ownership
- 100% owned by the firm's three principals
- Headquarters
- Chicago, Illinois
- Service area
- Team members in Illinois, Michigan, Wisconsin, and Arkansas, serving clients across the country
- Registration
- SEC-registered investment adviser
- Custody
- Client accounts held with independent qualified custodians, such as Charles Schwab & Co. and Axos Advisor Services
Our team
A dedicated team of experienced investment professionals who advocate for our clients' interests and take a research-driven approach to managing their portfolios.
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Chris Recker
Partner / Chief Investment Officer
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Jeff Keen
Partner / President
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Mike LaFontaine
Partner / Head of Advisory Services
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Gina Huffstutler
Operations Manager
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Ross Blauwkamp
Portfolio Manager
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Mike Vogel
Investment Advisor
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Barbara Kelly
Investment Advisor / Director of Client Experience
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Bunn Fawcett
Investment Advisor
Why AZA?
For nearly 30 years we've helped individuals, families, and organizations pursue their goals with disciplined portfolio management and personal attention.
- Value-seeking and adaptive
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We build your portfolio around your goals and lean toward what looks attractively valued as conditions change.
- Direct access
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You can talk directly with the people who make the investment decisions, by phone, email, or in person.
- Employee-owned
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We're owned entirely by the three principals who shape our investment decisions, so we take a personal interest in every client.
- Fiduciary, fee-only
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We're legally bound to act in your best interest, and we're paid through advisory fees, never commissions or product sales.
- Independent
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We have no ties to a bank, brokerage, or insurance company, so our advice isn't shaped by a parent company's interests.
- Third-party custody
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Your accounts are held at an independent qualified custodian, which provides built-in checks and balances.
Our Thinking
Market commentary, analysis, and ideas on retirement decisions from the people who drive our investment process.
Living Below Your High Water Mark
The stock market has historically spent nearly seven months out of ten below a previous high. Why that's normal, and why the depth and timing of drawdowns matter more than investors might think.
Jeff Keen
How Sequence Risk Can Impact Your Retirement
Why the order of returns matters, and how investment choices with the same average return can produce very different results for savers, retirees, and endowments.
Jeff Keen
Start with a conversation
A no-obligation, 30-minute introduction with investment people, not salespeople. If it seems like a fit, we'll follow up with a written proposal.