Socially Responsible Investments – Many people try to do good while they are trying to do well with their investments. We find there are many definitions of socially responsible investing. We encourage our clients to support the socially responsible causes of their choice and work with us on specifics. We support a socially responsible portfolio that encompasses many of the most common socially responsible causes: clean environment, no tobacco, no alcohol, no gambling, no nuclear power and no weapons manufacture.
Industry Weightings – Industry sector weightings are consistently monitored across all asset classes and portfolios. We are careful to make sure that the other portfolio decisions have not inadvertently allowed too high a concentration in any single industry or group. Having too many investments in narrowly defined industries or sectors defeats the benefits of broad diversification and risk reduction that underpin our investment philosophy. We utilize sector specific funds within the specialty asset classes to balance our industry positions.
Taxable portfolios – Tax considerations in taxable portfolios are very important. We go to great lengths to harvest losses, manage timing of gains and losses, avoid distributions, and to generally manage the portfolio as tax efficiently as possible. However, it is our policy that the investment decision must come first. The tax consideration will be the secondary factor in investment decisions.
Decision Making Process – This clearly defined, and highly disciplined investment management process is guided by our Chief Investment Officer. As he leads the research team through this rigorous daily analysis, he closely monitors and reviews all aspects of the process to assure compliance with our investment philosophy. All research findings and recommendations are presented to our investment committee. This committee, which is composed of all senior advisors in the firm, makes the final investment decisions.