Andrew Schaffernoth loved his time at Campbell University in the mid-80s. A trust and wealth management major, Schaffernoth was at home in Buies Creek, which was and still is home to the only four-year trust program in the nation. He also loved golf and was good enough at it to successfully walk on and make the team as a sophomore.
After graduation, he went straight into the trust field, beginning his career with First Union National Bank. He moved his way up to trust officer and found a passion for portfolio management. In 2002, he created his own entrepreneurial venture — specializing in boutique investment firms, and he purchased a minor ownership stake in one of his initial clients, Alta Capital, which has since grown to manage more than $3 billion in assets.
Schaffernoth says he owes his success to the foundation he built at Campbell University. His desire to give back and help pave new roads for future trust officers serendipitously coincided with a phone call he received one night from the Office of Annual Giving’s student call team.
“My caller ID showed a 910 number, but I didn’t recognize it,” Schaffernoth recalls. “I picked up the phone, and this bright, cheerful young lady tells me she’s from Campbell and she begins this pitch. And I can identify with it, because I did the same thing for Campbell 25 years ago. It takes courage for someone to put themselves out there like that. So we talked, and I had questions, and she had great answers. She was fantastic, and I was glad to give.”
That cold call netted Campbell a few hundred dollars originally. But it laid another foundation as Schaffernoth became actively involved in his alma mater and made a major gift to fund the School of Business’ First Citizens Wealth Management Center, which opened its doors in 2015.
In 2016, Schaffernoth was named the Lundy-Fetterman School of Business’ Outstanding Alumnus.
“I love being a part of growth,” he said. “I’ve always wanted to be actively involved, but there’s so many people who just talk about doing things. Actions speak louder than words, and I felt like I needed to lead by example. I just hope I’m providing some sort of positive example.”