When entering the home of William Blair clients Michele Speaks and David Warnock, you are greeted by vibrant and bold pieces of art. For the Baltimore-based couple, art isn’t just a decoration; it’s a form of storytelling and a major source of fulfillment.
While there’s a significant element of personal enjoyment with curating an art collection, Warnock sees art as a “store of value.” To him, it's much more than just investing in pieces.
“Art stimulates the mind and gets people thinking about what was happening at that moment in history, the painter, and the significance of the story it tells,” Warnock said. “Besides acting as an investment, art has completely enriched our lives.”
The Warnock Foundation
Speaks and Warnock’s passion for the arts extends beyond their personal collections. In 2012, they started the Warnock Foundation, which funds programs that impact the livelihood of Baltimore residents. Through thoughtful planning with their William Blair Wealth Advisors Leslie Ashley and Robert Hopkins, Speaks and Warnock channel their resources into causes they deeply care about. From social innovation to education to workforce development, the Warnock Foundation provides grants, coaching, and mentorship to solidify business and revenue models. Through their mentorship, Speaks and Warnock help prepare innovators to scale their businesses for future investors.
“The Foundation is an opportunity for us to focus on projects that not only help our community but align with our interests,” Speaks said. “There are a lot of great ideas about how to make life better in our city, and the Foundation is just one vehicle to provide that support.”
“I’ve always believed that people should have an opportunity to express themselves through art…It’s important to me that as many children are involved in the arts as possible are involved in the arts to gain that knowledge and confidence.”
–Michele Speaks, Co-Chair, Warnock Foundation
Unlocking the Power of the Arts
While both Speaks and Warnock have a long history of philanthropic involvement, a significant focus area for both is the power of exposure to the arts. Speaks supports Baltimore Center Stage, a performing arts facility committed to artistic excellence by engaging with community members to broaden their perspectives on the arts. To Speaks, this is especially essential for children who might not otherwise learn about these creative industries in their schools or neighborhoods.
“I’ve always believed that people should have an opportunity to express themselves through art,” Speaks said. “Our own children benefited from artistic environments and found their self-assurance. It’s important to me that as many children are involved in the arts as possible as possible are involved in the arts to gain that knowledge and confidence.”
Warnock currently serves as the chairman of the Georgia O’Keeffe Museum’s board of trustees. He credits owning a Georgia O’Keeffe painting with helping launch his passion for art collection and education. Through art, he has connected with others and been able to inspire creativity and community engagement while on the Georgia O’Keeffe board.
“You meet people with commonalities and bond with them through these pieces and artists,” Warnock said.
In their home, Speaks and Warnock’s personal collection isn’t guided by trends or market speculation—it’s shaped by artists they’ve met or historical themes they connect with.
“There are so many artists and subject matter experts out there,” Warnock said, “but you can start by figuring out what time periods, themes, or topics interest you."
Disclaimer
Art advisory professionals are unaffiliated with William Blair, and William Blair does not receive any direct or indirect compensation from such professionals. William Blair will identify certain art advisory processionals as an accommodation, but has not conducted diligence in connection with such professionals or the services they provide, and any referral should not be construed as an endorsement of such professionals. Other art advisory professionals may be available, and you should consider reviewing other such professionals to help determine who is best suited for you. Art is considered an alternative investment and may not be suitable for all investors. Investing in art involves significant risk, including lack of liquidity, loss of principal, and fluctuations in value. The value of art can be subjective and may be impacted by numerous factors, including but not limited to, the artist, the genre, condition, and overall art market conditions. Past performance of any art or asset class is not indicative of future results. Diversification does not ensure a profit or protect against a loss in a declining market. You should consult with a qualified professional or advisor before making any investment decisions. This information has been prepared for informational purposes and is not intended to provide, nor should it be relied on for, accounting, legal, tax, or investment advice. Please consult with your tax and/or legal advisor regarding your individual circumstances. Investment advice and recommendations can be provided only after careful consideration of an investor’s objectives, guidelines, and restrictions.