Cost control is paramount to long-term portfolio success because it allows more of your money to remain and work for you. Transaction costs are minimized through low portfolio turnover. We also employ various tax efficient strategies that allow us to eliminate, postpone, or reduce taxes. Our management fees are very competitive. The long-term compound effect of this savings can be tremendous.

We achieve superior portfolio cost efficiency versus

• Mutual Funds	• Life Insurance Companies
• Wrap Managers & Financial Institutions	• Financial Planners & CPAs
• Stock Brokers

Wrap Managers & Financial Institutions

Financial institutions will direct their clients toward proprietary mutual funds. Wrap managers (which include fee-based stock brokers) will direct their clients toward mutual funds or other money managers. Either way, the clients are aligned to a 'faceless' outside manager. Clients pay the 'middleman', the money manager, and high mutual fund fees. In exchange for the exorbitant total fees, the client receives little, if any, customized account service.

Stock Brokers

Stock brokers are more commonly paid by commissions versus management fees. What is in the best interest of clients versus what is best for the stock broker is often different. A stock broker is pressured to execute trades and promote specific securities/products. Much less attention is devoted to client education, proper portfolio management, and tax considerations.

Life Insurance Companies

Life insurance representatives will direct their clients towards high commission proprietary mutual funds or annuities, not separate account management. What is in the best interest of clients is not a consideration. Significantly higher costs are incurred in tandem with lower performing, tax inefficient products.

Financial Planners & CPAs

Financial planners and CPAs, if managing portfolios, will often utilize mutual funds. Separate account management is usually outside the scope of their expertise and core services. Consequently, higher expenses are incurred by the client through a combination of advisory fees and high mutual fund costs. There is little, if any, customization and account service.