Investment Management Philosophy

Our investment philosophy is disciplined. Our objective is to avoid risk and obtain returns that are satisfactory for our clients and consistent with the returns of comparable market investments. We do not feel that exotic techniques or untested investments are necessary to achieve above average investment performance. We are not market timers although there may be times when market conditions indicate that a reduction in equity or bond exposure would be prudent. The focal point of our management philosophy is the utilization of equities to provide a growing stream of income and capital appreciation.

Our investment management process starts with an understanding of your reasonable needs and desires. We meet and work directly with you to explore and establish your specific objectives relative to income, capital appreciation and capital risk tolerance. We believe the time spent with you, reviewing your financial needs and expectations will enable us to build an investment strategy that is unique and appropriate for you. We do not use a Common Trust Fund philosophy or treat you as part of a group with like objectives; an approach which could be in conflict with your individual needs. Portfolios range from all equity to all fixed income but most employ some degree of balance utilizing a combination of common stock, bonds, convertibles, and money market funds. We determine an appropriate mix of assets among these options that will best suit your needs based on our current outlook for the financial markets and our mutual understanding of your objectives.

Within each asset category, your portfolio will be diversified to minimize market and individual security risk. Fixed income positions would not be expected to exceed 10% of the portfolio and, initial equity positions would average 3% to 5%. Your portfolio is reviewed at least monthly and we communicate frequently to ensure that we initiate timely adjustments if your needs or market conditions change.