investment advisory services
3 key principles guide every investment portfolio
Should I invest myself or hire an expert? If I decide to hire an investment advisor, how do I go about the selection process?
How should I divvy up my investments among different types of assets, accounts, investment strategies, and investment vehicles? How much risk should I assume?
minimizing costs
How can I minimize fees, trading and custodial costs, and taxes that ultimately reduce my investment returns?
investment process
A top-down framework for constructing customized investment portfolios based on a long-term optimistic view of the markets.
personal situation
define goals, time horizon, and risk tolerance.
broad asset allocation
among primary asset classes: cash, fixed income, equities and alternatives.
sub-asset allocation
within primary asset classes, such as domestic or international.
asset location
determined by allocation of investments among taxable and tax-advantaged accounts.
investment vehicle selection
using mutual funds, exchange-traded funds, and separately managed accounts to own passive and active strategies.
quarterly performance reporting, rebalancing, and tax loss harvesting.
Studies have shown the selection of a portfolio’s asset allocation can be responsible for over 90% of a portfolio’s variance, with the remaining portion comprised of market timing, security selection, and other factors.
Source: Brinson, Singer and Beebower, “Determinants of Portfolio Performance,” Financial Analyst Journal, May–June 1991.