Decades of advancing client objectives through pioneering research and portfolio design Click below to view our history.
WST Capital Management is a division of Wilbanks Smith & Thomas Asset Management, LLC – a firm that has, since 1990, prioritized solutions-seeking research as a way to better serve clients.
Roger Scheffel, CIO of WST Capital Management, discusses the origins of the ETF strategist division and our approach to product development.
WST Capital Management emerged from our desire to deliver the types of solutions that we felt were missing in the marketplace. Since launching our flagship strategy in 2006, we have worked to develop a platform informed by our experiences as investors and guided by our mission of improving investment outcomes through active quant.
Founded in 1990
Norfolk, VA-based
Independent, privately owned
Wealth management & outsourced CIO
Over $3 billion AUM
WEALTH MANAGEMENT
SUB-ADVISORY
INSTITUTIONAL ADVISORY
Quantitative boutique division est. 2015
Track record dates to 2006
Approx. $500 million AUM/AuA
Decades of advancing client objectives through pioneering research and portfolio design Click below to view our history.
The team’s iterative design process brings together a depth of experience in portfolio management, product design, quantitative academic research and computational methods to create robust strategies designed to solve critical problems in portfolio construction.
Wade serves as Director of National Accounts for WST Capital Management, working to build relationships with advisors and financial intermediaries and support distribution and product positioning for the firm’s strategies.
Prior to joining WST in 2014, Wade spent six years at RidgeWorth Investments, most recently serving as Vice President and Wealth Advisor Consultant. In this role, he managed sales and distribution of RidgeWorth’s asset management strategies throughout parts of the Mid-Atlantic and Southeast regions. Wade began his career at Enterprise Capital Management, serving as a consultant to individuals and financial intermediaries.
Wade, an Alabama native, graduated from Auburn University with a Bachelor of Business Administration in Finance and holds the Certified Investment Management Analyst® designation, administered through the Investment Management Consultants Association and taught by The Wharton School of the University of Pennsylvania. In addition he is a CERTIFIED FINANCIAL PLANNER™, and holds the Chartered Retirement Plan Specialist and Chartered Mutual Fund Specialist designations, both offered through the College for Financial Planning.
As Director of Quantitative Strategies, Dave leads the firm’s quantitative investing research and development effort.
Dave’s expertise covers sector rotation, adaptive momentum, machine learning used in multi-tiered risk management, tail risk protection and robust asset allocation algorithms. Due in large part to his pioneering work on rules-based, quantitative strategies executed via ETFs, WST today offers an integrated platform of risk-managed strategies through WST Capital Management.
Prior to joining WST in 2014, Dave spent 20 years applying advanced algorithms to complex distributed systems; he holds multiple patents for rate adaptive video and visual collaboration. Dave first became interested in model development for quantitative investing nearly a decade ago, and from 2009 to 2014 he was a part-time consultant for CSS Analytics, a leading blog and research outfit in quantitative investing space. Dave leverages his extensive, experience in the construction and maintenance of quantitative models upon which WSTCM strategies are built.
A native of Cedar Rapids, Iowa, Dave graduated with highest distinction from Northwestern University’s McCormick School of Engineering, where he studied computer science; he holds a masters in Computer Science from the University of Toronto. Dave, his wife and two children live in Chesapeake; in his free time, he enjoys golfing and being poolside at his kids’ swim meets.
Maria joined the firm as Marketing Strategist in spring 2018, bringing to bear over five years’ experience in roles spanning digital strategy, content strategy and content marketing. Most recently she served as a Digital Strategist at a local financial services company.
Maria was born in Moscow, lived in Tokyo for over five years and grew up in Champaign, Illinois, graduating from Illinois State University before relocating to Hampton Roads. She holds a Bachelor of Science in Marketing, with a focus in Integrated Marketing Communications, and speaks Russian fluently. In her free time Maria lends her talents as a photographer to small businesses and enjoys spending time outdoors, rock climbing and bouldering.
Tom oversees the firm’s trading operations, serves as a quantitative strategist, is the lead Portfolio Manager on key strategies managed through WST Capital Management and is a member of the Investment Committee. Prior to joining WST in 2005, he served as a Portfolio Manager at a regional investment advisory firm.
Born on Long Island, New York, Tom graduated from James Madison University with a Bachelor of Business Administration in Finance and a minor in Economics. He holds the professional designations of Chartered Market Technician and Chartered Financial Analyst. He spends his free time with his wife and two children, and plays guitar and piano in a band.
Roger is a Principal, Portfolio Manager and member of the firm’s Investment Committee. He also serves as Chief Investment Officer for WST Capital Management, the firm’s in-house ETF strategist.
Before joining WST in 2009, Roger held relationship and portfolio management responsibilities at a global wealth management and investment banking firm. Prior to entering the financial services industry, he was a Senior Manager in Ernst & Young’s Private Client Services division.
A native of Texas, Roger graduated from St. Mary’s University with a Bachelor of Business Administration in Accounting. He is a member of the American Institute of CPA’s and the Personal Financial Planning Section and holds the Personal Financial Specialist credential. Roger has taught Portfolio Management to MBA candidates as an adjunct professor at a local university.
Current community activities include serving as a Board member of the Tidewater Community College Educational and the Robins Foundation. Roger also serves on the Investment Committees of the Tidewater Community College Educational Foundation and the Robins Foundation. Roger is a member of the 2001 Leadership Class with Lead Hampton Roads, a program of the Hampton Roads Chamber of Commerce. He spends his free time golfing, camping and woodworking; he and his wife live in Virginia Beach.
Ryan joined WST in 2018 as a Product Associate focused on WST Capital Management, the firm’s ETF strategist division, and was promoted to the role of Portfolio Analyst in 2019. He is responsible for reporting and supporting communications with clients, intermediaries and data platforms with exposure to WSTCM’s products and various vehicles, and he supports development of investment proposals and production of custom portfolio analysis within the firm’s sub-advisory line of business. He sits on the firm’s Investment Committee.
Ryan, a native of Virginia Beach, graduated from Old Dominion University with a bachelor’s in Business Administration, with a major in Finance and a Minor in Economics. He has passed the Chartered Financial Analyst Level I exam. In his free time, he enjoys fishing, snowboarding, basketball and spending time at the beach with his dogs.
Wayne, a co-founder of WST, serves as the firm’s Managing Principal and Chief Investment Officer and chairs the firm’s Investment Committee. Prior to the establishment of WST in 1990, Wayne co-founded a regional investment advisory firm where he served as Senior Portfolio Manager and Director of Research. Wayne brings to bear over 35 years of investment experience and extensive training across asset classes and investment styles. He is a regular guest on CNBC, Bloomberg Financial News, and Bloomberg Radio, and is quoted often in publications including Bloomberg News, The Wall Street Journal, and The Virginian Pilot.
Wayne, a North Carolina native, graduated from Duke University with a degree in Economics, and he subsequently undertook study through Georgetown University’s Program of Comparative Business at Oxford University in England. He holds the Chartered Financial Analyst designation and is a member of CFA Society Virginia.
Wayne is particularly proud of the firm’s cultural emphasis on community engagement and service, and he currently serves as Chair of the Eastern Virginia Medical School Foundation Board of Trustees and on the Boards of Directors for the Virginia Arts Festival, the Greater Norfolk Corporation, the Access College Fund and the Slover Library in downtown Norfolk. He served formerly on the Board of Trustees for the Chrysler Museum and the Nicholas School of the Environment at Duke University. In his free time, Wayne enjoys tennis, skiing, sailing and spending time with his wife, Ashlin, and their two daughters.
Applies proprietary quantitative research approach to the universe of market, macroeconomic and ETF universe data to develop, refine and deliver strategies. Collaborates with Product Design team to reconcile theoretical approach with practical, strategic and tactical portfolio needs.
Analyzes industry data, advisor input, and performs portfolio risk assessment, collaborating closely with Quantitative Research Group to drive product development. Responsible for ongoing product management and strategic support to advisors and investors.