Our philosophy regarding our client’s investment portfolios is characterized by three fundamental beliefs:

• Prudent investors should be adequately compensated for the risks they assume.
• Prudent investors should be positioned for a reasonable probability of success relative to their goals.
• Prudent investors should not be exposed to potentially avoidable catastrophic risks.

We rely on core principles developed and tested since the inception of our firm. These principles are:

• Asset allocation provides the foundation to managing portfolio risk and volatility
• Tax efficiency and asset location are critical
• Portfolio expenses must be scrutinized
• No single money management firm can be all things to all people
• Our most important role is to be an advocate; our goal is to control costs, be tax efficient and manage risk, which provides the most effective way of helping you toward your goals.