We are very proud that Korving & Company has been named Suffolk Small Business of the Year by the Hampton Roads Chamber of Commerce (HRCC).
We were honored at a luncheon on Norfolk sponsored by the HRCC on June 12th. Pictures of the event can be found on our Facebook page.
Here is what Inside Business had to say about us:
Father-and-son duo Arie and Stephen Korving have more than four decades of experience in financial advising between the two of them.
Arie Korving entered the business in 1986, working for a global wealth management firm, and Stephen joined him at the firm in 2004, after working in institutional money management. Branching out to start Korving & Co. in 2010 gave them the opportunity to provide individualized financial advice to clients. Their purpose is managing money but putting people first is at the core of what they do.
“We know our clients,” Stephen said. “We manage money for them to help them achieve what it is they want.”
Today, they have clients in every stage and circumstance of life, from the widow in an assisted living facility to the corporate executive. The common denominator among clients is that they remain with Korving & Co. for a long time, some for over 20 years.
Because of Arie’s establishment in the industry and his ability to maintain relationships, they are not just nationwide but across countries, Stephen said. Given the nature of how they invest, long distance relationships with clients have never been an impediment.
“We are a family business that works with families,” Stephen said. “We do for our clients what we would do for our family members if they were in the clients’ situation.”
“We decided to run this business to help people achieve their goals and we want to do it in a highly ethical, highly transparent way,” Arie added.
It is this type of personalized guidance that has kept the company increasing at 15 percent to 20 percent per year, a rate that they want to continue to see as long as it provides the opportunity to work with people in a meaningful and impactful way.
This principle was further established during the market crashes of 2000 and 2008, after which the company decided to become totally independent of large investment firms, allowing them to provide service based on their clients’ needs.
“It really resonates with people when you can say let’s find what you really want to do rather than what the market wants to do,” Arie said. “That type of risk control is an important service we offer.”
Located in Suffolk, they are truly a small business by choice with only one other employee beside themselves on payroll. By staying small, they are able to grow in relationships and be involved in the community, Stephen said.
Arie recently published a book, “Before I Go,” which shares his life experiences from an educational standpoint. They also have had articles in local publications and are currently rated No. 4 in financial blogging in Virginia and in the top 100 in the U.S….
Their bottom line is helping people. “We can continue to grow in the amount of money we manage, but we want to maintain the very personal relationships we have with people,” Arie said.
“People never want to think of themselves as a number.”