How We Help Our Clients Achieve Their Objectives
Once we understand their circumstances, goals and preferences,
we use a four-step process to develop and implement an investment
plan that we believe maximizes the probability that they will achieve
their objectives.

Quantifying Needs and Objectives

Once we know our clients’ objectives and risk tolerance, we help them weigh these variables and select investments that provide a comfortable balance. We consider factors like timing, taxes and goals in recommending an appropriate investment strategy.

Developing an Asset Allocation Strategy

Most investors are familiar with the benefits of asset allocation: diversification and the balance between growth and income and risk and reward potential. By properly apportioning investments classes such as stocks, bonds and other asset categories, we arrive at the “efficient frontier.” The efficient frontier represents the blend of investments that offers the maximum potential for return for every given level of risk. Drawing on analysis and research of the capital markets, we assist in determining the mix of investments that best meets our clients’ risk and return objectives. Please keep in mind that Asset Allocation and Diversification does not guarantee a profit or protect against a loss.

Investment Evaluation and Selection

A debate has raged for decades between proponents of active and passive investment management. Our experience and research have lead us to believe that while many managers have not added value over and above their fees, a handful have consistently beaten their benchmarks. Historically, this observation has guided us as we have built our portfolios and we have focused them around those managers who have historically beaten the market.

We believe the research shows that other fundamentals based approaches have also lead to benchmark beating results. According to Standard and Poor’s, S&P Stars 4 and 5 outperform S&P 500 by 1.00%, as of 12/31/2019. The research of Nobel Prize winners French & Fama shows that low P/E stocks outperformed the S&P 500 by 5.8% on average from 1952 to 2019. Likewise, higher yielding stocks, the 4th Quintile dividend stocks in the Fama / French databse, outperformed the S&P 500 by 1.9% on average from 1928 to 2019.”. Based on this and other research, we have begun to transition many portfolios to a fundamentals based approach.

Building fundamentals based portfolios comprised of individual securities gives us the flexibility to manage capital gains taxes; Though, you should discuss any tax and legal matters with the appropriate professional.

For clients who prefer to use third party managers, our team conducts due diligence and leverages Raymond James’ resources (and those of external research organizations) in selecting managers for our clients.

Please keep in mind that past performance may not be indicative of future results. Investing involves risk, and investors may incur a profit or a loss. The S&P 500 is an unmanaged index of 500 widely held stocks. It is not possible to invest directly in an index. Opinions expressed are those of the author and not necessarily those of Raymond James.


Personnel. The credentials and expertise of key investment professionals are crucial. Depth of experience and a history of success weigh heavily in our evaluation.

Investment Process. Investment managers should have a coherent system for generating ideas and constructing portfolios. We look at sector or industry exposure, volatility guidelines or other constraints.

Research Capabilities. We expect each investment-management firm to possess adequate research resources. For example, if the stated goal is to identify fundamental value, we may review the number of companies each analyst is expected to cover.

Implementation. Investment managers should deliver results to clients that are consistent with their stated investment processes.

Business Operations. Clients need a reasonable assurance of the firm’s commercial viability. Relevant factors include the trend of assets under management, growth or stability of personnel, and legal or regulatory issues, among other business and management results.
For clients who prefer to use passive investment approaches, we can customize portfolios with low cost ETFs, funds or managed accounts.

Investors should carefully consider the investment objectives, risks, charges and expenses of mutual funds and ETS. The prospectus contains this and other information about mutual funds. The prospectus is available from our office [or from the fund company] and should be read carefully.

Monitoring Our Clients’ Portfolios’ Performance

Whether portfolios are comprised of individual securities, managers, ETFs or funds, the final step in our process is the monitoring of their performance. We regularly review portfolios for their progress toward meeting their investment objectives. On an ongoing basis, we review performance and evaluate how their total portfolios have performed in the current quarter, year-to-date and since inception. For comparative purposes, we examine the performance of appropriate market benchmarks for the same periods and in the context of economic and market events. We review our findings as often as our clients prefer in either one-on one meetings or over the telephone.