Investment Philosophy for fee-based advisory clients

We strive to provide participation in up markets, and preservation in down markets.

We're Different, Let's Talk

These are unusual words and unusual times. With the world changing at an alarming rate, what happened months ago feels like ancient history. We believe defense and flexibility are needed to negotiate this rocky terrain. Having worked with, observed, and listened to investors since 1988, we recognize how hard it is for people to commit to a fixed strategy given all of the volatility in the markets over the past decade. When times are good investors tend to be overly optimistic or aggressive. When the markets are weak, investors become fearful and want to be out. Our philosophy of investing starts with a thorough understanding of each client’s risk tolerance and time frame, but then it goes much further, striving to allow clients to potentially benefit from long-term growth with less volatility. As with all investment strategies there is no assurance these goals will be met

A Good Defense is your Best Offense

Many managers customize plans after an initial review of the client’s desires and goals. This plan can remain in place for months, several quarters or even years, without making any adjustments. This static approach is known as strategic asset management. We take this strategy one step further by employing an appropriate defensive strategy. This is designed to include the flexibility to change course when necessary. We believe a customized plan that works today may not work tomorrow, so we tactically move our advisory clients' capital in and out of the markets to attempt to both mitigate risk and grow principle. We believe this is our best offense.

Bulls vs. Bears...Managing Risk

Our philosophy of investing doesn't just stop with a thorough understanding of each client’s risk tolerance and time frame, but it goes much deeper. We attempt to adjust exposure to risk given the strength and weakness of the general market trend. By using both technical and fundamental research, we customize an asset allocation for every investment strategy to adjust the growth, fixed income, and cash allocations. This fluid approach, or tactical management, attempts to reflect shorter term risk in the market. Although past performance may not be indicative of future results, historically this approach has allowed us to mitigate risk in bear markets. Likewise, we attempt to participate in bull markets, allowing clients to potentially reap the benefits of market uptrends.

The Only Thing Certain...Uncertainty

We read research and study market trends every day. We monitor what is happening in the world and the affect this news might have on the markets. Armed with all this information we strategize each client's account. We understand that the only thing certain in this world is uncertainty, and we believe unpredicted events require changes to our clients' strategies. Because no one can predict the future, we make real time decisions that are designed to be flexible and adjustable...and based on what is happening today, and the evolving needs of our clients.

$275 Million* and Growing

That's why we have developed a discretionary investment strategy that is designed to allow adjustments in clients’ strategies in an attempt to mitigate risk while at the same time seeking to capture as much of the market upside as possible. Our investment philosophy has helped our business to grow with discretion for clients who appreciate this methodology. In our initial meeting with prospective clients, we will discuss this philosophy in detail. We also provide commissioned brokerage services when appropriate and in the client's best interest. Meet us and get to know us. We will work with you to help you pursue your goals. Then we will use our skills, methodology and professional expertise to help make the most appropriate decisions on your behalf.

*In client assets as of 04/28/2023

The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of the Investment Manager(s) and their team and not necessarily those of Raymond James. Opinions are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation. This should not be considered forward looking and does not guarantee the future performance of any investment.

All investments are subject to risk, including loss. There is no assurance that any investment strategy will be successful. Asset allocation and diversification do not ensure a profit or protect against a loss. It is important to review the investment objectives, risk tolerance, tax objectives and liquidity needs before choosing an investment style or manager.

In a fee-based account clients pay a quarterly fee, based on the level of assets in the account, for the services of a financial advisor as part of an advisory relationship. In deciding to pay a fee rather than commissions, clients should understand that the fee may be higher than a commission alternative during periods of lower trading. Advisory fees are in addition to the internal expenses charged by mutual funds and other investment company securities. To the extent that clients intend to hold these securities, the internal expenses should be included when evaluating the costs of a fee-based account. Clients should periodically re-evaluate whether the use of an asset-based fee continues to be appropriate in servicing their needs. A list of additional considerations, as well as the fee schedule, is available in the firm's Form ADV Part 2 as well as the client agreement.

Equities: Investors should be willing and able to assume the risks of equity investing. The value of a client's portfolio changes daily and can be affected by changes in interest rates, general market conditions and other political, social, and economic developments, as well as specific matters relating to the companies in which the strategy has invested. Companies paying dividends can reduce or cut payouts at any time.

Fixed Income: All fixed income securities are subject to market risk and interest rate risk. If fixed income securities are sold in the secondary market before maturity, an investor may experience a gain or loss depending on the level of interest rates, market conditions and the credit quality of the issuer. There is an inverse relationship between interest rate movements and bond prices. Generally, when interest rates rise, bond prices fall and when interest rates fall, bond prices generally rise. Please note these strategies may be subject to state, local, and/or alternative minimum taxes. You should discuss any tax or legal matters with the appropriate professional.

An investor without investment objectives is like a traveler without a destination.
Ralph Seger