Investment management and financial planning for families and business owners.
Our thinking on investing and planning, published in full.
Written pieces on investing and financial planning.
Educational only. Not personalized investment, tax, or legal advice. No tax prep or legal services.
Investment management and financial planning, held to a fiduciary standard.
We manage investments in durable businesses and plan around the whole household: retirement income, taxes, estate, and concentrated positions. Planning is included for investment-management clients.
Financial planning for business owners, including the exit.
The business is usually the largest asset and the least examined. We plan around it: cash flow, taxes, the owner's own balance sheet, retirement plans for the company, and the sale when it comes.
Who we work with, and what it costs.
Relationships generally begin at $100,000 of managed assets. Our fees are published below and never hidden.
The foundations: a written plan, disciplined saving and investing, retirement income when the time comes, and keeping taxes from quietly eroding returns.
Wealth with a shape: a concentrated position, a business, equity compensation, or an inheritance — and the question of what belongs in the estate.
Estate planning moves to the center — which tools fit the family, coordinated with the family's attorney and CPA.
Annual advisory fee, billed on assets under management. The first $1,000,000 is charged at 1.00% and the next $1,000,000 at 0.75%. At $2,000,000 and above, the whole balance is charged at 0.65%. Financial planning is included for investment-management clients; there is no separate planning fee. Complete and current details are in the firm’s Form ADV Part 2A, available on request.
The three situations, in fullAn independent fiduciary firm, led by a CERTIFIED FINANCIAL PLANNER®.
We are value investors. We study a business until we can put a value on it, buy quality when the price is right, and hold while earnings compound. Many clients want that done with individual businesses. For others, the same security analysis is better applied to diversified funds or an index of the whole market, alongside their financial plan. Which one fits depends on the person.
Independent. Fiduciary. Registered Investment Adviser. CERTIFIED FINANCIAL PLANNER®.
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Client LoginThe name and the mark.
The name is four hundred years old. It means the place at the brook. Our mark is an arch standing over still water, and in the water its reflection completes a circle. The market price shows only what appears above the surface. Our work is to value the whole for the benefit of our clients.