Reppond Investments, Inc. is a registered investment advisor located in the beautiful Flathead valley.

5 Years. Over 15,000 hours of research

A Better Investment Strategy

Reppond Investments, Inc. was founded by Ben Reppond to advise clients on selecting securities and fixed income investment opportunities that we believe are most appropriate based on the firm’s risk-averse portfolio management strategies.

At Reppond, we believe the investment advisory industry often neglects to disclose adequately the risks versus potential rewards about products and services offered to individual investors. We strive to deliver superior investment advice while being completely transparent regarding known and potential risks to the individual investor.

What we believe

We believe that it is possible to minimize downside stock market risk while achieving acceptable rates of return. We also don’t believe in commissions. 

Who we help

We manage investments for other financial and investment advisors, and for individuals and employers. 

Why Montana

Life in Montana is much simpler and the pace of life is slower. Advances in technology today allow people to live and work in diverse areas; the Flathead Valley is home to Reppond Investments, Inc.

Our Team

We manage investments for other financial and investment advisors, and for individuals, and employers. While we love doing business in the Flathead Valley of Montana, our scope of practice is throughout the United States.

Reppond Investments - Ben Reppond

Ben Reppond


Ben Reppond and his wife moved to the Flathead Valley of Montana in October 2016, and every single day Ben says, “I love Montana.” He feels fortunate to be able to work with clients not only in the beautiful state of Montana, but all over the country.

Ben spent his career in the insurance business in Seattle, where he started and sold three businesses to public companies. After he sold his last company he had money to invest. The financial advisors he spoke with all wanted him to put his money in the stock market. This felt too risky to Ben and he did not take their advice. That decision sent him on a journey to find a way to manage money in such a way that he would not have to take unnecessary risk. The journey included over 15,000 hours of reading and research, and he now feels like he can sleep at night because he has minimized stock market risk. He enjoys helping clients grow their assets while protecting them as much as possible in all market conditions.

Reppond Investments - Mike

Michael Tumolo


Michael has been using his quantitative research tools since 1997. He has traded stocks, ETFs, options, futures, forex and has been developing quantitative models and managing portfolios since 2000 for Registered Investment Advisors (RIAs) and research firms. He draws on his extensive experience in strengthening our investment research and client service departments.

Michael is a U.S. Navy veteran who holds a B.S. in Finance from Columbus University as well as an Associate’s degree in Electronics Engineering. He earned the designation of Chartered Market Technician, awarded from the CMT Association, and is a member of the Algorithmic Traders Association.

Frequently Asked Questions

How did you start?

Reppond Investments, Inc. was founded by Ben Reppond to advise clients on selecting securities and fixed income investment opportunities that we believe are most appropriate based on the firm’s risk-averse portfolio management strategies. He formed the firm in order to achieve a level of independence in the advice he provides and in the breadth of investment strategies and services he focuses on to help his clients.

Where are you located?

Reppond Investments, Inc. is headquartered in Bigfork, Montana. Additional offices are in the Seattle area and the Philadelphia area. Ben covers the Western and Central US and his partner, Mike Tumolo covers the Eastern US.

What type of research did Ben do?

Seeking consistent investment returns with low downside risk may seem easy, but it is difficult to achieve. It took many years of disciplined study and research to develop a strategy with the goal to achieve consistent returns while minimizing risk. In his research, Ben found many differences between the thinking and strategies of the traditional financial planners and those who manage money for the wealthy.

In light of his findings, he narrowed his focus to the methodologies used by the wealthiest investors. In his study, he looked for confirmation of thinking among those investment managers with the best reputations and who were using best practices. He then had software built to test his ideas until, in his view, the soundest and most risk-averse strategies emerged.

What services do I receive?

Reppond Investments, Inc. uses both active and passive investment management approaches. Clients are placed in either or both of the strategies based on their goals, tolerance for risk, time horizon and whether or not it is a taxable or tax deferred account. The client’s account is monitored on a continual basis to determine how much of the client’s assets should be exposed to the market, based on a complex set of criteria. The purpose of this is to attempt to optimize performance and minimize risk. The client pays for this level of attention to their account.

Clients get access to reporting software that allows them to monitor their accounts real-time in a manner that is easy to understand.

Finally, clients have access to Ben Reppond during normal business hours to be able to talk with him about their individual situation, the markets in general or general business or financial advice.

How do you get paid?

Reppond Investments, Inc. only charges a fee based on assets under management and does not use commission based products or accept commissions of any kind. The maximum fee is 1.5% per year for active management and 1% for buy and hold – and can be lower based on amount of assets being managed.

Make sure that you are working with a “fee-only advisor” who is not compensated by any form of commissions. The industry is clever about disguising various ways of making money from client assets – both implicit and explicit. It’s important to review the disclosure documents (Form ADV 2) that are required to be provided to every potential client of a registered advisory firm.

What is your minimum size account?

Our minimum size account is $100,000 per household. We realize than many investment advisors use much higher minimums, but we have chosen to keep our fees low and our minimum investment low because we want most people to be able to have professional investment management available to them. We have not raised our fees or our minimum account size since we started the company.

How will our relationship work?

The client will receive a monthly report detailing the performance of their investment account and Ben Reppond’s view of the past and present market conditions – plus his view of what will likely be the drivers of future market conditions. This is not a “canned” report written by someone else to give the appearance that this is somehow coming from Ben Reppond. It is written by Ben and reflects his views of market conditions at that moment in time.
It is recommended that the client have periodic meetings with Ben Reppond to talk about changing circumstances, views and needs. The frequency will depend on each client’s situation and desires.

What custodians do you use?

Reppond Investments, Inc. uses two independent and nationally recognized custodians – TD Ameritrade Institutional and Nationwide Financial.

What tax hit do I face if I choose you?

Reppond Investments, Inc. uses active management for managing client assets when those assets are part of an IRA or Roth IRA. Investment gains are shielded from tax as long as they stay within the IRA. Therefore, there are no taxes due when client accounts experience a gain and the assets stay within the IRA or Roth IRA.

When the Nationwide tax deferred flat-fee annuity is used, taxes are also deferred – even if the client account experiences investment gains along the way. When money is withdrawn from the annuity, the gains are taxed first. The amount the client started with (the basis) is never taxed when it is withdrawn as long as the client is over age 59 ½.


In other words, all of the gains that a person has in their account under either of these structures is either completely tax free (with a Roth IRA) or is tax deferred and is not taxable in the current tax year, as long as the assets stay inside these structures with these custodians.

Taxable accounts are managed to minimize taxes to the client.  A buy and hold approach is used.  However, in order to hopefully achieve optimal performance and minimize downside risk, a custom portfolio is designed around each client’s situation.  Dynamic re-balancing is done as frequently as once each month.  This takes into account changes in market volatility.  Since the custodian uses a “First In First Out” method of accounting, this means that in most situations the client will not face tax consequences due to rebalancing even as frequently as once each month.  Eventually, long term capital gains will need to be accounted for.

Interested in meeting us?

contact the team today!