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Wealth Management

A family office service model that covers the spectrum of planning solutions.

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Evidence-Based Investing

EBI seeks to filter through noise, hype and emotion in order to make investment decisions grounded in facts, logic and reason.

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A Clear Process

A truly dynamic planning process that adapts to changes in life circumstances.

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Viewpoints

Investor Biases & Mutual Funds

The relationship between investment flows and mutual fund performance is of great interest. For example, do investors naively look only at raw returns when making asset allocation decisions, or do they adjust returns for risk, using an asset pricing model?

Mutual Fund Investor Concerns

Itzhak Ben-David, Jiacui Li, Andrea Rossi and Yang Song, authors of the October 2018 study “What Do Mutual Fund Investors Really Care About?”, sought to determine whether investors use prominent asset pricing models—such as the CAPM (capital asset pricing model) and the three- and four-factor versions of Fama-French models—to allocate capital, or whether Morningstar’s star ratings (which do not account for systematic exposure to explanatory factors) explain mutual fund flows better than risk-adjusted returns. > SEE MORE

Long Term Returns, Short Time Periods

Investors would do well to learn from deer hunters and fishermen who know the importance of “being there” and using patient persistence, so they are there when opportunity knocks.

— Charles Ellis, on investment policy

One of my favorite sayings is, “If you think education is expensive, try ignorance.” This is certainly true about investing, which is why I believe that knowledge of investment history is an important, if not necessary, condition of achieving success. The following is offered as evidence.

Distribution Of Returns
Most investors know that the U.S. stock market has historically returned about 10%: Over the 92-year period from 1927 through 2018, the S&P 500 returned 10.1%. If we were to remove the returns of the best 92 months > SEE MORE

Half of a Whole: When You Lose a Spouse

Whether it’s sudden and unexpected or after an already lengthy ordeal, there’s nothing that can prepare you for losing your spouse. Grief and mourning affect each of us uniquely, but all widows and widowers share a painful dilemma: On the one hand, the world seems to demand rapid response to a barrage of critical questions – financial and otherwise. On the other hand, it’s usually a terrible time to be making big decisions, especially if they really can wait.

Here are some helpful handholds to hang onto if you have been recently widowed (or you know someone who has), plus preemptive steps to take if you’re reading this in happier times.

If you’ve just been widowed … > SEE MORE