Asset Management Process

We manage our clients’ portfolios by investing in best-in-class investment managers in order to establish prudent, well-diversified portfolios. We select concentrated funds with expert, established managers who invest only in their specific niches. Our objective is to select the best managers in each investment space in order for us to devote our time to managing our portfolio allocations strategically.

How we choose our fund managers

We seek out managers who have demonstrated a sustainable ability to outperform in various economic and market climates, and whom we expect to have the discipline and ability to maintain their strategy into the future; even in difficult economic times.

We invest in managers who exhibit:

  • Consistently superior risk-adjusted performance
  • Awareness and respect for risk (defined not as volatility, but as the potential for permanent loss of capital)
  • An investment approach that is both clearly expressed and logical
  • A commitment to their shareholders through aligned incentives, responsible asset management and reasonable expenses
  • An ability to manage effectively in multiple market environments
  • A high level of integrity and a passion for investing that is evident throughout the team and the firm’s dynamics
  • A commitment to only invest in their best ideas

Due Diligence Process

As we evaluate prospective funds and fund managers, we gain a deep understanding of each of our selected managers’ strategy and processes through a rigorous due diligence process. Our due diligence process includes a thorough evaluation of the fund’s historical performance and an attribution analysis, multiple discussions with the fund manager and other members of their team, a review of the manager’s prior investment commentary and other media articles, site visits to assess the fund’s operations, and consideration of their fit within our clients’ existing portfolios.

We monitor our managers on an ongoing basis to ensure that our original investment thesis is still valid and that each investment remains the best available option for our clients. We review the new funds established in the fund families we invest in, as well as new funds being released in our market niches. We will change fund managers if we identify a better fit for our portfolios based on the market environment and make other tactical portfolio adjustments based on the opportunities and threats we see in the current environment.

We conduct daily monitoring of our funds, and when our funds’ performance differs from what we would have expected, we analyze what caused the discrepancy to determine whether this reflects a fundamental root cause that we would expect to continue to affect performance.

We also constantly monitor overall trends in the market, and analyze relative performance that diverges from what we would expect based on a historical perspective. If there is an apparent discrepancy, we analyze its cause to determine whether we see an opportunity in that area, at which point we either adjust our portfolio weightings or begin the process of identifying the best manager for that space.

Asset Management Services

Our investment management process is tailored to the client, whether the client is an individual, couple, or family, a pension plan, a trust, or a charitable foundation.

Examples of services we offer: 

  • Time horizon and retirement planning
  • Charitable planning and investment planning with tax considerations
  • Tax-aware asset management, including consideration of asset locations (such as Roth conversions) and asset management in conjunction with estate planning with assets with high taxable gains
  • For qualifying investors, access to non-traditional investments usually restricted to very high net worth clients
  • For small business owners, establishment of retirement and employee incentive plans that offer a broader range of investment options than traditional brokerage firms (which often only offer funds in their own fund family)
  • Advisement on investments such as employee 401(k)s that have limited options, as well as a portfolio allocation that incorporates these investments into the client’s overall portfolio
  • Consultation on employee benefits such as stock options or warrants
  • Guidance and planning for asset diversification for clients with large exposure to a certain asset (such as employer stocks), while managing tax consequences
  • Investment in socially responsible funds

We are available at any time to discuss any portfolio or asset management needs you may have and determine if we would be a good fit for you.