Lee Kopp, the North Aspect son of a Minneapolis parking zone attendant who went on to a 50-year profession within the securities business, was referred to as a decisive and calm investor who made cash for purchasers and himself.
Kopp additionally acknowledged it when his picks and affected person type didnt work out.
Kopp, who eschewed a flashy life-style and the trimmings of wealth, drove a 2007 Cadillac and lived in the identical Edina home close to his Southdale-area workplace for 50 years. He died earlier this month on the age of 86, two years after he shuttered Kopp Funding Advisors to deal with philanthropy and household investments.
Kopp needed his legacy to be the $60 million-and-growing sum he and his household donated to charitable causes, principally to scholarships for Minneapolis-area youngsters from low-income households, from preschool to school.
Kopp, a graduate of Minneapolis Henry Excessive, additionally graduated from the College of Minnesota and served as a Navy officer.
Lee was a outstanding man who lived a outstanding life, his widow, Barbara, and daughter Debbie stated in a ready assertion. A person of super integrity, kindness, generosity and nice wit. He as soon as stated, there are three vital issues in life: The primary is to be type, the second is to be type, and the third is to be type.
Lee and Barbara Kopp established the Kopp Household Basis in 1987.
His generosity has touched the lives of hundreds, the assertion stated. There isn’t a higher method to pay tribute to his legacy than to proceed the charitable works of the Kopp Household Basis for a few years to return.
Kopps giving centered on local people schools and state universities. It spanned college students at 132 colleges, 52 of them in Minneapolis. The inspiration additionally supported help to the needy.
Kopp and his spouse of 61 years raised 4 kids in Edina.
Kopp joined the previous Dain Bosworth in 1960, now a part of RBC Wealth Administration. He served as a monetary adviser and supervisor of the large Southdale department workplace till he established Kopp Funding Advisors in 1990.
He gained accolades within the 1990s for good efficiency centered on know-how investments.
In 2006, Kopp offered the agencys two publicly traded mutual funds to much-larger American Century. He and a small workers centered on non-public cash administration for people till his retirement in 2019 at 84.
Kopp skilled lots of the prime brokers at Dain.
Hes assured, however theres not an boastful bone in his physique, George Hallin, a Dain Bosworth dealer stated in 1995. At poker, hes aggressive when hes bought the playing cards. And also you dont bluff him out of the pot.
Kopp didnt like dropping cash. He was courteous and direct. He was extra long-term investor than dealer. He was not shy about inviting purchasers to seek out one other dealer reasonably than combat over technique. And he criticized administration groups he thought had been overpaid for underperformance.
Kopp credited associates and luck for a lot of the success that he invested within the much less lucky.
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