Investment Management

Portfolio Management

We are dedicated, patient, long-term investors committed to managing risk rather than chasing returns. Our disciplined investment process balances caution with optimism, reflecting our belief in a steady, strategic approach to portfolio management. Above all, we are passionate about our work and eager to share our expertise with clients.

Our Investment Management Process

Each portfolio is uniquely constructed to align with the individual objectives, constraints, time horizon, and risk tolerance of each client.

• Individual Securities: Stocks and bonds are the core foundation of our client portfolios. We integrate legacy stock and bond positions seamlessly into our investment management process.
• Team-Based Investment Committee: Our Investment Committee employs a collaborative, team approach to investment research, security selection, and portfolio construction.
• Diversification with ETFs and Mutual Funds: To complement core portfolio holdings and meet the preferences of clients who favor funds, we incorporate exchange-traded funds (ETFs) and mutual funds for strategic diversification.
• Alternative Asset Classes: To enhance portfolio diversification and seek returns that are not correlated with equity markets, we may include alternative asset classes like commodities and real estate.

Our investment management process integrates with comprehensive financial planning services. Our strategies encompass:

• Maximizing efficiencies between taxable, tax-deferred, and tax-exempt accounts
• Tax-loss harvesting to minimize tax impact
• Capital gains management for optimized returns
• Tailored guidance on savings rates and withdrawal needs

Client assets are held securely with a third-party custodian, and each portfolio is governed by a personalized Investment Policy Statement (IPS) that addresses the client’s unique objectives, constraints, time horizon, and risk tolerance.

Individual Security Selection

Stocks represent ownership in a business, and our Investment Committee selects them with a rigorous fundamental approach that combines both quantitative and qualitative analysis. Our stock selection strategy is contrarian, focusing on “out-of-favor” stocks with potential for long-term gain. Our goal is to build a diversified portfolio of high-quality businesses across various industries, emphasizing stable cash flows and attractive valuations.