Process
Our process can be segmented into asset allocation decisions and security selection decisions. Our portfolios have a long-term strategic asset allocation which is determined in consultation with the client. We have flexibility to stray from those strategic asset allocation targets if our research shows us that, in the shorter term (1-3 years) an asset class is overvalued or undervalued. Our security selection process examines individual securities, mutual funds, ETFs, and alternative vehicles on a stand-alone basis, as well as how that asset fits in a portfolio context. We believe that more informationally efficient asset classes, such as US Large Cap Equity, are better suited for a liquid indexed approach, while less informationally efficient asset classes, such as Emerging Market Equity, are better suited for active strategies.