'Long-term oriented' Cozad Asset Management marks 50th anniversary
Jun. 19—cozad
Tax administrator Lily Dahman mans the front desk during lunch at Cozad Asset Management in Champaign.
Robin Scholz/The News-Gazette
CHAMPAIGN — In the midst of a challenging economy, Cozad Asset Management still has something to celebrate this year.
Founded in 1972 by the late V. Dale Cozad, the Champaign financial services company is marking its 50th anniversary.
Over the last 35 years, the business has weathered several market corrections and bear markets — and enjoyed some very positive returns in the three years prior to this one — and it continues to advise clients to keep a long-term perspective, according to Greg Cozad, son of the founder and the company's president and CEO.
"We're very long-term oriented," he said.
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L-R- Stuart Meacham and V. Dale Cozad and Greg Cozad 1986. Photos courtesy Cozad Asset Management
Robin Scholz/The News-Gazette
Cozad Asset Management — a third of which is owned by employees and the rest owned by investors — focuses on investment management, financial planning and tax and insurance services. It also has a wholly owned subsidiary, Managed Tax Services.
It's grown into a company of 38 employees, with more than 20 certified public accountants and financial planners on staff. And as of the end of the first quarter of this year, it had more than $1.7 billion in assets under management.
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Ron Kiddoo, 1986 Photos courtesy Cozad Asset Management
Robin Scholz/The News-Gazette
Greg Cozad, who joined the business in the mid-1980s when he was a few years out of law school, said his father was originally in the life insurance business and wanted to diversify into other financial services.
His dad was the leader and driver of the business until his death in 1993, Greg Cozad recalled.
After his father passed away, Cozad said the company has been driven by a group of four staff/board member leaders, including himself, Chief Investment Officer and board Chair Ron Kiddoo, Executive Vice President Mary McGrath and Chief Operating Officer Stuart Meacham.
The business takes a long view on employment, too.
"I think we've really always emphasized two things, commitment to clients and commitment to staff, and we've been really blessed with a really talented and hard-working staff," Cozad said. "I think it's been an attractive place for people to work."
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Cozad employees outside 2500 Galen in 1985.
Cozad Asset Management
Kiddoo, formerly a partner in a CPA firm, first joined Cozad Asset Management in 1982.
Being a CPA is "very high-intensity work," he said, and he wanted a bit more family time.
When he first joined Cozad Asset Management, Kiddoo recalled it was primarily involved in providing tax-sheltered investments — until a 1980s change in tax laws moved the business in a new direction — asset management services, which now accounts for 95 percent of its business.
Kiddoo said he still enjoys the work so much, he doesn't want to retire.
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Ribbon cutting with Mayor Schweighart at 2501 Galen Drive 2001 Photos courtesy Cozad Asset Management
He's also proud of the longevity of the staff — which includes his daughter, Anne Storsved, and son, S. Craig Kiddoo.
"We don't lose too many employees," Kiddoo said
A desire for more work-life balance than his former work in public accounting allowed for also drew Dae Kang to join Cozad Asset Management seven months ago, Kang said.
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L-R-Greg Cozad, Stuart Meacham and V. Dale Cozad. 1986 Photos courtesy Cozad Asset Management
Robin Scholz/The News-Gazette
A former partner at Martin Hood, where he was employed for 20 years, Kang said doing both tax and wealth management work gives him a more holistic approach for his clients.
Kang said he likes the family-oriented culture of Cozad Asset Management and was also drawn to the company because it's community-focused, sponsoring several nonprofit organizations and their work.
In the last year, Cozad said three more board members have been added, two of them staff members — Storsved and Brett Anderson — and the first outside board member, University of Illinois President Emeritus B. Joseph White.
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L-R-Stuart Meacham, COO; Ron Kiddoo, CIO; and Greg Cozad, CEO, at Cozad Asset Management in Champaign on Tuesday, June 14, 2022.
L-R-Stuart Meacham, COO; Ron Kiddoo, CIO; and Greg Cozad, CEO, at Cozad Asset Management in Champaign on Tuesday, June 14, 2022.
Robin Scholz/The News-Gazette
Robin Scholz/The News-Gazette
While the original four board members are still fully engaged with the business, Cozad said they're also looking ahead and are focused on bringing on younger staff members in leadership roles.
Kiddoo said he sees the company continuing pretty much as it has, with more bright young people coming aboard.
"Eventually they will be taking over," he said.
