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Riverwater Partners
Riverwater Partners was formed in Milwaukee in 2016 by Adam Peck, a CFA charterholder, with an explicit mission to grow wealth responsibly. The firm operates...
Riverwater Partners
Riverwater Partners was formed in Milwaukee in 2016 by Adam Peck, a CFA charterholder, with an explicit mission to grow wealth responsibly. The firm operates as a registered investment adviser and structured itself as a B Corporation, binding its fiduciary duty to a public-benefit mandate. Its wealth-origin source is not publicly disclosed, but the firm's posture is retail and institutional advisory built from scratch, not inherited capital. The firm manages three actively managed small-cap equity separate account strategies for institutional and individual investors. Its asset management work centers on public equities, while the wealth management side handles asset allocation, financial planning, and portfolio construction. Riverwater's September 2025 B Corp Champions Retreat water panel featured executives from A. O. Smith and Badger Meter, signaling its practitioner network in water-technology industrials. Its published commentary frames security selection around a company's operational 'handprint' — measurable positive externalities from resource use — alongside traditional valuation work. Its home market is the US Upper Midwest, with client-facing staff positioned in Milwaukee and Madison, Wisconsin. Riverwater lists eleven professionals, including four CFA charterholders and a CFP practitioner. Founder Adam Peck holds the CFA and leads investment decisions; Cindy Bohlen, a CFA charterholder, doubles as portfolio manager and Chief Mindfulness Officer, an unusual title underscoring the firm's culture-first branding. The compliance function is led by Laura Peck, an attorney. A June 2026 panel on water-technology value creation placed the firm alongside industrial issuers rather than traditional allocator peers, a subtle signal of its community-integrated sourcing model. The firm does not publicly disclose fund-level AUM or aggregate deployment. Structurally, Riverwater separates itself from the bulk of registered investment advisers by its B Corp certification, which legally obligates it to consider stakeholder impact alongside shareholder return. Its principals co-invest personal assets in the same strategies clients use, a practice the firm foregrounds as an alignment mechanism. Without a disclosed succession plan, the firm's governance currently appears concentrated in its founder and a small leadership circle — a common posture for sub-scale, mission-driven advisory practices.
General information
Firm type
Wealth Manager
Year founded
2016
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Milwaukee
Corporate office
Milwaukee, WI, United States
Additional offices
Madison, WI
Principals
Adam Peck
Founder
Brian Gigl
Wealth Advisor
Cindy Bohlen
Portfolio Manager / Chief Mindfulness Officer
Connor Doak
Analyst
Kirk Fox
Client Relationship Manager
Laura Peck
Chief Compliance Officer
Lizzy Gauthier
Client Service Associate
Lori Gramins
Client Advisory Partner
Matt Drvaric
Analyst
Nathan Fredrick
Analyst
Tito Pombra
Intern
Sector focus
Frequently asked questions
Who runs investment decisions at Riverwater Partners?
Founder Adam Peck, CFA, leads investment strategy for the firm's three small-cap equity separate account strategies. Portfolio manager Cindy Bohlen, CFA, also sits on the investment team. The firm publicly names four CFA charterholders on an eleven-person staff, indicating a credentialed but compact investment function.
Is Riverwater Partners structured as a single family office or a traditional advisory firm?
It is an independent registered investment adviser, not a family office. Riverwater was founded by Adam Peck in 2016 and serves individuals, families, nonprofits, and institutions. It operates a wealth management practice alongside an institutional small-cap equity management business.
What does Riverwater's B Corp certification mean for clients?
As a certified B Corporation, Riverwater is legally required to consider the impact of its decisions on workers, community, and the environment, not just shareholders. This certification mandates public transparency and third-party auditing of its social and environmental performance, and it sits alongside the firm's fiduciary obligation to clients.
What investment stages and asset classes does Riverwater target?
Riverwater focuses on public small-cap US equities through three actively managed separate account strategies. Its wealth management arm also covers asset allocation and portfolio construction for individuals and families. The firm does not appear to operate in private equity, venture capital, fixed income, or real-asset funds.
Does Riverwater co-invest alongside its clients?
Yes. The firm states it invests its own assets alongside client capital in the same strategies. Founder Adam Peck has publicly written about the practice as a structural alignment mechanism.
How does Riverwater source its investment ideas?
The firm publishes thematic research on areas such as water technology and resource-efficiency industrials, and it networks through the B Corp community and regional manufacturing circles. A 2026 panel placed firm personnel alongside operating executives from A. O. Smith and Badger Meter, suggesting sourcing draws on operator relationships in the Upper Midwest.
Does Riverwater maintain a philanthropic structure?
No dedicated philanthropic foundation is disclosed. The firm expresses its public-benefit mandate through its B Corp legal structure and its commitment to 'making the world a better place by growing wealth through responsible investing,' rather than through a separately capitalized charitable vehicle.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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