More than just financial advisors

Who We Are

It is our mission to serve each client with the highest level of professionalism and integrity, and to provide individualized investment management. We’re Maple Capital Management. We’re your trusted partner.

17 Years in business
$1.59B Under management (as of 12/31/2021)
22 Employees
4 Office dogs

What We Stand For

We believe that developing strong relationships with our clients is the key to effectively managing their assets. Each client works directly with a portfolio manager to ensure attentive and consistent service.

Get to know Maple Capital

What Drives Us

The Green Mountain State of mind.

Vermont has a wealth of natural beauty — its nickname is “The Green Mountain State” — and is a place where the land is respected, revered, and appreciated. Its many lakes, forests, and small towns are an increasingly popular destination for activities like mountain biking, hiking, and skiing, or for contemplation and quiet reflection.

In Vermont, craft is king.

Vermont is also home to a large and diverse community of talented artisans that produces an array of award-winning cheeses, craft beer and spirits, maple syrup, outdoor gear, and jewelry.

Inspired by the landscape.

We are inspired by the nature, creativity, and entrepreneurial spirit of this land, and we firmly believe the idyllic setting is a fitting backdrop for our work in creating investment portfolios for our clients.

Employee-owned.

Our employee-owned boutique is immersed in this culture of hands-on craftsmanship, and we nurture a healthy work-life balance that brings out the best in our people while enabling them to live purposefully.

Independent and personal.

Our location in the heart of Vermont allows us to maintain an independent viewpoint and a special way of doing things that’s focused on the long term (financial) well-being of our clients.

It’s about more than investing for us. We’re here to be partners in your financial future.

Ramsey Luhr | President & Founding Partner

Our People

Meet the team

Our team of experienced professionals stands ready to provide high-quality, high-touch investment services.

Steven L. Killoran

Executive VP – Partner

Steve leads the Marketing Team and is a member of the Management Team. Along with various other responsibilities, Steve’s concentration is Business Development.

Outside of Maple Capital

Steve enjoys spending time with family, backcountry skiing, hockey, and reading.

Education and Affiliations

»  BA in Political Science • Keene State College

Experience

»  30 years

Ramsey A. Luhr

President — Founding Partner

Ramsey was a co-founder of Maple Capital in 2004. Beyond leading the firm’s Management Team and serving as a Client Portfolio Manager, Ramsey is a member of both the firm’s Investment and Asset Allocation Committees.

Outside of Maple Capital

Ramsey enjoys biking, skiing, running with his dog Bean, and spending time on the water.

Education and Affiliations

»  BA in International Relations • Trinity College
»  CFA Society of New York
»  CFA Institute

Experience

»  28 years

Elizabeth S. H. Lewis, CFA

Senior VP — Client Portfolio Manager Team Lead — Partner

Liz leads our Client Portfolio Manager Team here at Maple Capital. As a Client Portfolio Manager she works with clients to design and implement portfolios to meet their investment goals and objectives. Liz is also a member of the Management Team.

Outside of Maple Capital

Liz enjoys getting out in the fresh Vermont air – running, biking, walking (highly underrated), and skiing.

Education and Affiliations

»  BS in Business Administration • University of Vermont
»  CFA Institute
»  CFA Society of Vermont

Experience

»  21 years

Hilary T. Roper, CFA

Equity Analyst – Partner

In addition to Hilary’s role as an Equity Analyst, she is also a member of the Management Team and serves on the Investment and Compliance Committees at Maple Capital.

Outside of Maple Capital

Hilary enjoys biking, running and spending time outside with her dogs, Islay and Belle.

Education and Affiliations

»  BS • Cornell University
»  CFA Institute
»  CFA Society of Vermont

Experience

»  28 years

Evan I. Pemberton, CFA

VP — Operations & Chief Compliance Officer — Partner

Evan leads our Operations Team and serves as the firm’s Chief Compliance Officer. His responsibilities include managing the firm’s compliance program, performance reporting, operations, data, and systems. In addition, he serves on our Management Team.

Outside of Maple Capital

Evan enjoys spending time with his family and has a passion for golf and guitar.

Education and Affiliations

»  BS in Financial Management • University of Vermont
»  CFA Institute
»  CFA Society Vermont

Experience

»  18 years

Timothy J. Wooster

Client Portfolio Manager – Partner

As a Client Portfolio Manager Tim works with clients to design and implement portfolios to meet their investment goals and objectives.

Outside of Maple Capital

Tim enjoys skiing, golf, and fishing.

Education and Affiliations

» BS in Business Administration • Northern Vermont University

Experience

»  20 years

Clayton T. Shiver, CFA

Client Portfolio Manager

Clayton is based in our Atlanta, GA office. As a Client Portfolio Manager, Clayton works closely with clients and advisers to provide solutions and help meet their goals and objectives. Clayton is an active participant in the Investment Committee and involved with Business Development at Maple Capital.

Outside of Maple Capital

Clayton enjoys spending time with his family and their dog Maple, football, golf, and fishing.

Education and Affiliations

»  BA Terry College of Business • University of Georgia
»  CFA Institute
»  CFA Society of Atlanta

Experience

»  12 years

Debbie L. Montgomery, CFP

Client Portfolio Manager

Debbie works out of our Atlanta, GA office. As a Client Portfolio Manager Debbie works with clients to design and implement portfolios to meet their investment goals and objectives.

Outside of Maple Capital

Debbie loves spending time with her three adult children, Joshua, Sarah, and Daniel. She is involved in her community and currently sits on the executive board of the Dunwoody Homeowners Association. In her spare time, Debbie enjoys gardening and art projects.

Education and Affiliations

»  BS in Finance • Georgia State University
»  Certified Financial Planner

Experience

»  30+ years

Gerald C. Milkowski

Senior VP & Portfolio Manager

As a Client Portfolio Manager Gerald works with clients to design and implement portfolios to meet their investment goals and objectives.

Outside of Maple Capital

Gerald enjoys spending time with his family.

Education and Affiliations

»  BS in Engineering • United States Naval Academy
»  MBA • University of Connecticut

Experience

»  30+ years

Fjolla Buza-Sotak

Assistant Client Portfolio Manager

As an Assistant Portfolio Manager, Fjolla supports the Senior Portfolio Management team in an array of ways. Fjolla generates proposals and analysis for prospective clients and manages client requests by working cooperatively with our internal departments to ensure accurate and timely solutions to our clients and adviser partners. She is also responsible for rebalancing client accounts and various portfolio transactions.

Outside of Maple Capital

Fjolla enjoys pilates, running, traveling and spending time with friends and family.

Education and Affiliations

»  BA in Economics • Rochester Institute of Technology
»  MA in Economics • City College of New York

Experience

»  3 years

Richard J. Litchfield, CFA

Senior VP & Fixed Income Portfolio Manager – Partner

Rich is head of fixed income at Maple Capital, with primary responsibility for corporate bonds and taxable municipal bonds. Rich is the lead portfolio manager for all insurance-related accounts. He also authors the monthly Fixed Income Commentary and is a member of the Investment and the Asset Allocation Committees.

Outside of Maple Capital

Rich enjoys biking, skiing, hiking, reading, travel, and spending time with family.

Education and Affiliations

»  BS in Finance • Boston College
»  MBA • Boston University
»  CFA Institute
»  CFA Society of Vermont

Experience

»  30+ years

James W. Fischer

Head Trader – Partner

Jim is responsible for the execution and risk management of all equity positions. He also plays a role in building fixed income portfolios and a lead role in portfolio attribution and analysis.

Outside of Maple Capital

Jim enjoys traveling with family, mountain biking, skiing, and coaching.

Education and Affiliations

»  BA • Lafayette College

Experience

»  20 years

Michael A. Keara

Equity Analyst – Partner

In addition to Mike’s role as an equity analyst, he is a contributing member of the Investment and Asset Allocation Committees.

Outside of Maple Capital

Mike enjoys travel baseball with his two sons and all things Vermont has to offer.

Education and Affiliations

»  BS in Finance & Quantitative Analysis • New York University, Stern School of Business

Experience

»  28 years

David M. Brownlee, CFA

Senior VP & Fixed Income Portfolio Manager

David has primary responsibilities for the tax exempt, municipal and securitized sectors. He is also a member of the Investment Committee.

Outside of Maple Capital

David enjoys music and spending time with his family.

Education and Affiliations

»  BA in Mathematics • American International College
»  BA in Economics • American International College
»  CFA Institute

Experience

»  40 years

Cory T. Beard

Operations Manager – Partner

Cory manages Maple’s billing process, accounts receivable/payable, budgeting, tax/audit, and captive reporting.

Outside of Maple Capital

Cory enjoys spending time with his family, skiing, hockey, and running.

Education and Affiliations

»  BA in Government • St. Lawrence University
»  MBA • Norwich University

Experience

»  15 years

Richard K. Bowers

Senior Operations Specialist

Rick works directly with our Operations and Compliance team where he assists the firm with compliance, reporting, GIPS reporting, data and integration.

Outside of Maple Capital

Rick enjoys skiing, mountain biking, sailing, community service, and hiking with his chocolate lab, Kona.

Education and Affiliations

»  BS in Business Administration • Colby-Sawyer College
»  Investment Foundations Certificate Holder

Experience

»  9 years

Kara S. Nihan

Client Service Manager

Kara manages the day to day operations of the client service team. Additionally, Kara provides marketing and business development support.

Outside of Maple Capital

Kara enjoys spending time with her husband and son. She also enjoys skiing and mountain biking.

Education and Affiliations

»  BS in Business Administration • Castleton University
»  Investment Foundations Certificate Holder

Experience

»  5 years

Connor G. Herbruck

Client Service Specialist

Connor’s responsibilities include new client onboarding, satisfying client requests, and ongoing account maintenance. Connor is also the co-lead on complex accounts including estates and trusts.

Outside of Maple Capital

Connor enjoys spending his free time fly-fishing, hiking with his hound dog Marley, and collecting & writing music.

Education and Affiliations

»  BS in Business Administration • University of Vermont Grossman School of Business
»  Investment Foundations Certificate
»  CFI Introduction to ESG
»  FINRA Series 65 Candidate

Experience

»  2 years

Sara E. Fox

Client Service Specialist

Sara’s responsibilities include assisting clients and adviser partners with general account maintenance, new account paperwork, transfers, and money movements. She also provides business development and marketing support, as well as assistance with special projects.

Outside of Maple Capital

Sara enjoys trying new foods and restaurants with her husband, and spending time with her dogs.

Education and Affiliations

» AA in Accounting (in progress) • Community College of Vermont

Experience

»  1 year

Tyler W. Donohue

Client Service Specialist

Tyler assists clients in the onboarding process. Tyler also works closely and assists with the key responsibilities of the compliance team.

Outside of Maple Capital

Tyler enjoys skiing, golf, running, and biking.

Education and Affiliations

»  BA in Finance • Champlain College

»  CFA Level One Candidate

Experience

»  1 year

Aaron J. Sommer

Client Service Specialist

Aaron’s responsibilities include assisting clients and adviser partners with onboarding, general account maintenance, new account paperwork, transfers, and money movements.

Outside of Maple Capital

Aaron enjoys spending time with his family, running, hiking, learning history, and spoiling his dog Cricket.

Education and Affiliations

»  Aaron studied Business at St. Johns River College

Experience

»  1 Year

Brody J. Hoffman

Client Service Specialist

Body’s responsibilities include assisting clients and adviser partners with general account maintenance, new account paperwork, transfers, and money movements. 

Outside of Maple Capital

Brody enjoys playing golf and spending time with his wife and daughter. He also tries to find time to read and listen to podcasts.

Education and Affiliations

»  BS in Business Administration • University of Vermont Grossman School of Business

Experience

»  3 years

Giving Back

Investing in our communities

Our team is passionate about giving time, money, and skills to address the issues facing our world. It’s part of our culture and the set of values that continue to shape our mission. We’re proud to partner with local and national organizations committed to giving back to our communities.

Image of Ramsey, Liz, Tim, and Evan at a charity golf event

Volunteering

Giving Time

Our team is deeply committed to giving back to our community through time and service, and we routinely support local organizations and events throughout the year. From fundraisers to food drives, Maple Capital is steadfastly rooted in helping our neighbors thrive.

Interested? Let’s talk.

Let us build a tailored solution to meet your investment needs.

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