We recognize each of our clients as unique people or families with unique situations, needs, goals, desires, and comfort zones.

1. Rather than having a few portfolios to be used for all of our clients, we establish, maintain, and regularly modify unique portfolios for each of our clients based on their specific needs, desires, and goals.
2. In developing those portfolios, we follow the principles outlined in Harry Markowitz’s Portfolio Selection as published in the Journal of Finance, spring 1952. We exclusively use investments registered under the Investment Company Act of 1940 and to the best of our ability, avoid non-systemic risk. We carefully manage systemic risk and personal risk individually for each client, recognizing their unique situations, goals, and comfort zones.

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​The risks associated with savings and investments fall generally within three categories.

Personal Risk

1. Short-Term Personal Risk can be managed and, in most cases, eliminated through careful planning, maintenance of adequate cash and short-term bond reserves, and appropriate personal risk-management tools such as adequate property, casualty, income replacement, and health insurance.
2. Long-Term Personal Risk, the risk that invested assets will be insufficient to provide adequate long-term income can be managed through realistic, long-term planning, appropriate asset allocation, and realistic cashflow management.

Non-Systemic Risk

​Loss of value and possible insolvency of individual companies, people, and industries.

Systemic Risk

The variance in the U.S. and world economy, reflected in inflation, interest rates, and large-scale stock and bond market valuation.