Foundation Resource Management Transitions Ownership Internally to the Second Generation

Firm will be led by Managing Principal Meredith Moll and Principal Zach Riley

Greg Hartz and Mark Millsap to Remain as Full-Time Employees

(LITTLE ROCK, AR: February 7, 2025) - Foundation Resource Management, Inc., an SEC-registered investment advisor founded by Greg Hartz in 1992, announces an internal ownership and leadership transition to the second generation. Greg Hartz, Founder and Co-Principal owner, and Mark Millsap, Co-Principal owner began the succession process more than seven years ago by bringing on minority partners in 2018. Now, effective 2/1/2025, Hartz and Millsap have fully sold their ownership interest to this second generation and will remain on as full-time employees and Portfolio Managers of the firm. Foundation Resource Management (“FRM”) will now be led by Managing Principal Meredith Moll and Principal Zach Riley.  Moll joined the firm in 2015 and Riley in 2008.

“FRM was started in February of 1992 with the idea that foundational capital was most prudently cared for and nurtured in a disciplined framework incorporating sound, fundamental concepts of financial security analysis and portfolio management. We still believe that, today more than ever. As we look forward, it is with great pleasure that we reflect on the personal growth and capability of our next generation owners: Meredith Moll, CFA; Zach Riley, CFA, CPA; Abby McKelvy, CPA; and Chris Fleischmann, CFA.  We are confident that they will lead FRM to heights we cannot even imagine. We sincerely and gratefully thank our clients for the trust they have put in our work that has allowed us to build this formidable team,” said Greg Hartz, Founder, Portfolio Manager and former Principal.

Mark Millsap, Portfolio Manager and former Principal added “Since Greg and I joined together as equal partners in 2001, we have been committed to transitioning our ownership to our next generation internally because we believed it was in the best interest of our clients. We are proud to be concluding this process we constructed intentionally to maintain the continuity for our clients who hired us for our fundamentals-based, long-term oriented investment approach.”

“We are honored to have this opportunity to continue to serve our clients like Greg and Mark have done together for more than two decades. Our firm is truly differentiated, with a long-term oriented approach that resonates with our clients who have hired us to do our best to protect and grow their hard-earned and irreplaceable capital over decades. We take that task seriously and are honored to have the opportunity to build on Greg and Mark’s legacy by continuing to pursue that long-term aim relentlessly. We are very excited about the future of Foundation Resource Management,” Meredith Moll and Zach Riley commented.

About Foundation Resource Management, Inc.

Founded in 1992, Foundation Resource Management is an employee-owned, SEC-registered investment advisory firm in the sole business of managing investment portfolios for clients such as insurance companies, charitable foundations, hospitals, retirement plans and families. FRM has a 32-year history of overseeing separately managed portfolios of individual stocks and bonds, chosen using a fundamentals-based value investing discipline. Based in Little Rock, Arkansas, we have a dedicated team of ten professionals that includes five Chartered Financial Analyst (CFA) Charterholders and four Certified Public Accountants (CPAs). We are honored to serve as fiduciary stewards of our clients’ capital.  More information can be found at www.frmlr.com.

Media Contact:

Abby McKelvy, Partner, CFO and CCO (501) 534-2675 amckelvy@frmlr.com