Why We Are Different
Structure
Our structure is identical to that employed by the nation's largest, most sophisticated independent investors. It eliminates conflicts of interest, which differentiates us from all product-driven firms including banks, brokers and product oriented asset managers. While this structure eliminates conflicts, it also emphasizes day-to-day responsibility and point accountability, which differentiates us from firms that have grown out of a consulting culture.
Our structure has a clear investment advantage as well. While most investment programs benefit from only one source of value added - the kind that comes bottom up from securities selection - our programs enjoy an entirely additional source of value added - the kind that comes top down, from capital allocation.
Investment Philosophy
Every great investor has a philosophy. Ours emphasizes price, discipline and patience. Price is critical, because risk is a function of price. There is no asset that is a good investment at any price and there is almost no investment that is not a good investment at some price. Discipline is critical because no philosophy will succeed unless it is consistently applied. Patience is the hallmark of all great investors. This approach enables us to custom design fiduciary quality, globally diversified, multi-asset class portfolios built around a team of independent specialist money managers.
People and Culture
An institution is only as good as its people and the culture that binds them. Our people are clearly among the best in the industry and our culture is unique. We have been called "Wall Street Idealists" a label that describes a rare balance between Wall Street intensity and a genuine fiduciary ethos that we work hard to maintain. Our people and culture are driven to deliver sound long-term investment solutions, not just clever answers or component choices, and to work closely with our clients to keep them on course to long-term success.