Private Client Services

Investment Management

We build your investment strategy with the goal of growing your wealth over the long term, based on macro-economic trends as well as your goals, time horizon, and risk tolerance.

Diversified Approach

Our investment philosophy is governed by the assumption that you have spent your lifetime creating wealth and that wealth creation is not an appropriate role for investment management. Instead, we focus on the growth of wealth, and measure this growth on a risk-adjusted basis.  

We pay credence to macro-economic trends and their tendency to “cycle.” We know history does not repeat, but we do consider its echoes. We consider identifiable parallels with historical contexts – whether they are political, geopolitical, or economic – all of which have had profound influences on investors in the past. We balance these past influences with today’s investment environment, which is unique in its global participation in the capital markets. We believe this recent effect will be lasting and of increasing influence. With this mindset, we combine a sound strategy with diversification to enhance long-term portfolio growth and protect against market risk.

Broad Investment Vehicles

We maintain transparency and objectivity when choosing investments by sustaining extensive advisory relationships with top managers and using an expansive array of investment vehicles. With no proprietary products, we are able to select from mutual funds, exchange traded funds (ETFs), separately managed accounts (SMAs), fixed income, alternative investments, and defensive options strategies. When appropriate, we recommend certain hedging strategies that include the use of options (put buying or call selling only). We do not speculate with options. In most cases, we do not recommend individual stock purchases. We do, however, perform considerable due diligence on individual stocks held in existing portfolios to help manage risk before a client transitions to a diversified portfolio.

We vet all recommended investment vehicles for the following characteristics:

  • Performance (relative to peers, relevant indexes)
  • Manager tenure/turnover
  • Portfolio turnover
  • Tax profile
  • Cost efficiency (expense ratio)

Customized Models

We work, in consultation with you, to construct a strategic investment model designed to best meet our growth and income requirements. These requirements are determined by your financial plan, which we use to “reverse engineer” the model. The model serves as the foundation for your portfolio and is adjusted periodically or as your personal circumstances change.  This model includes:

Strategic aspects of an investment model change infrequently.  Generally we are referring to the ratio of equities to fixed income and cash.

Tactical aspects within an investment model may change more frequently and are generally reflective of the existing market/economic cycle. Tactical aspects include the ratio of “growth” to “value” equities, large cap/small cap, domestic/non-U.S., and corporate/government bond ratios.

Sector ROTATION is a tactical sub-strategy we may recommend within an equity portfolio, if appropriate. We devote a portion of equities to individual sector indices that are periodically exchanged based purely on technical analytical indicators.  

Non-correlated “hard” asset classes such as commodities, precious metals, REITS, or even currencies usually hold an allocation allotment in all our investment models. We believe an uncorrelated investment allocation helps further mitigate volatility and risk.

Periodic Reviews

We seek to meet regularly – your schedule permitting – to review your investment performance and the general investment/economic environment. Investment reviews can cover any time period (e.g., last quarter, year-to-date, trailing 12 months, since inception). During reviews, we compare detailed actual allocation to your strategic investment model and make adjustments to return back to the model (portfolio re-balancing).  We also consider ever-changing economic landscapes and how they may impact tactical adjustments.