Investment Philosophy

Our investment philosophy is built on the twin pillars of capital preservation and broad diversification. Our goal is to provide above-market returns with below-market risk. We strive to generate excess returns via superior stock and mutual fund selection, not market timing, sector weighting or country selection. We also believe that client portfolios should maintain a high level (20-40%) of non-U.S. investments.

Principles

• Asset Allocation

  The proper alignment of one’s assets with their intended use is critical to investment success. Therefore, we work with our clients to establish an appropriate asset mix, given their investment goals, risk tolerances, liquidity requirements, tax status, and investment restrictions.

• Diversification

  We believe it is important to diversify investments across and within different asset categories. Because financial markets do not move in tandem, diversification tends to reduce overall portfolio risk.

• Long-Term Orientation

  We believe successful investing requires a long-term focus. We most emphatically do not attempt to "time" the market and we refrain from frequent trading and allocation changes in reaction to today’s news.

• Tax Efficiency

  Given our founders’ tax accounting background, it is not surprising that we select and manage investments with great attention to income taxes, which substantially impact returns. We are among a select few firms nationally that are able to couple global wealth management and international taxation to significantly impact after-tax returns for our non-U.S. citizen and expatriate investors.

• Cost Sensitivity

  We seek to minimize expenses, which are a drag on performance. Where appropriate, we use individual stocks, bonds, and index funds to reduce costs. When actively managed mutual funds are called for, we are mindful of their expense ratios.